News

BlockBeats News, June 30th, at the opening of the US stock market, the Dow rose 0.1%, the S&P 500 Index, and the Nasdaq were nearly flat. Tech giants saw mixed performance, with NVIDIA up 0.6%, Oracle down 0.2%, SpaceX up 0.4%, and Tesla down 0.9%. Sandisk rose by 1.2%, with Bernstein significantly raising its price target for the stock from $1700 to $3000.

BlockBeats News, June 30th, preliminary vessel tracking data from Kpler and Vortexa shows that shortly after exiting OPEC, the UAE boosted its crude oil and condensate exports to a record high in June. Kpler's Senior Oil Analyst Rauball stated that the UAE's average crude oil and condensate exports this month were around 3.7 million barrels per day, hitting a historical peak and significantly higher than the pre-Middle East conflict levels of 3.1 to 3.3 million barrels per day. The UAE's previous export peak was in April 2020, reaching 3.44 million barrels per day during the brief oil price war ignited by Saudi Arabia and Russia. Vortexa's Senior Oil Analyst Emma Li said that from June 1st to the 29th, crude loadings in Abu Dhabi reached 4 million barrels per day, surpassing the pre-war level of 3.4 million barrels per day. Export volumes also rose to a historical high of 3.7 million barrels per day, compared to 3.3 million barrels per day in the first two months of this year.

```htmlGolden Ten Data reported on June 30 that single-family home prices in the United States saw a slight month-over-month decline in April, but a shortage of homes for sale continued to support prices. The Federal Housing Finance Agency (FHFA) stated on Tuesday that after rising by 0.2% in March (revised data), home prices fell by 0.1% in April. The monthly decline in home prices may reflect weak demand, as tensions in the Middle East have pushed up oil prices, leading to higher inflation and mortgage rates. According to Freddie Mac, since the conflict broke out at the end of February, the average rate for mainstream 30-year fixed-rate mortgages has increased by roughly 50 basis points, averaging 6.49% last week. A sharp drop in home prices is unlikely. Over the past 12 months ending in April, home prices rose by 2.0%, compared to a 1.8% increase in March. There is currently a nationwide housing shortage, especially for entry-level homes suitable for first-time buyers. The National Association of Home Builders (NAHB) estimates a housing gap of about 1.2 million units.```