The number of Americans filing for initial jobless claims for the week ending June 27 was 215,000, compared to an expected 220,000.
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The weekly change in U.S. ADP employment figures for the week ending June 20 was 21,000.
According to BlockBeats, on July 7th, the US ADP employment change for the week ending June 20th was 21,000, compared to 30,750 in the previous week. (Jinshi)
Crypto Market Preview This Week: Fed Meeting Minutes to be Released, SpaceX to be Included in Nasdaq 100 Index
According to BlockBeats, on July 6th, the crypto market will focus on the Federal Reserve meeting minutes, US economic data, and several crypto industry events this week. The macro environment and on-chain dynamics may jointly influence the price movements of digital assets. On the macro front, the Federal Reserve will release the minutes of its June FOMC meeting in the early hours of July 9th (Beijing time), with the market hoping to use this information to determine the future path of interest rates. In addition, the US ISM Services PMI, consumer inflation expectations, initial jobless claims, and China's June CPI data will also be released successively. On the industry front, SpaceX will be officially included in the Nasdaq 100 index on July 7th, becoming the fourth index component stock to hold Bitcoin, following Tesla, Strategy, and Mercado Libre. Data shows that SpaceX currently holds approximately 18,712 BTC, and its inclusion in the index is expected to benefit from the passive allocation demand of index funds. In addition, American Bitcoin (ABTC), a US mining company, will resume trading after completing a 1:15 reverse stock split to avoid delisting from Nasdaq; Berachain will complete its PoL Next upgrade on July 7. Regarding on-chain governance, ENS DAO, Frax DAO, Nexus Mutual DAO, and Arbitrum DAO will all conclude voting on multiple governance proposals this week. Regarding token unlocking, Hyperliquid (HYPE) will unlock 0.2% of its circulating supply on July 6, worth approximately $30.39 million; RAIN will unlock approximately 7.64% of its circulating supply on July 11, worth approximately $787 million; and PUMP will unlock approximately 29.12% of its circulating supply on July 12, worth approximately $130 million. Besides macroeconomic data, developments in the Russia-Ukraine situation and the continued weakening of the yen are also worth noting. Recently, Bitcoin has shown a strong negative correlation with the USD/JPY exchange rate, with the depreciation of the yen often accompanied by a rise in Bitcoin prices.
This week, 10 new companies completed their domestic IPO preparatory filings, with the semiconductor sector accounting for three of them.
Mars Finance reported on July 5th that, according to information disclosed on the China Securities Regulatory Commission (CSRC) website, 10 new companies received domestic IPO guidance filings this week (June 29th to July 5th). These companies are Zhejiang Deste New Materials, Qingdao Haisenlin Hair Products, Jiangsu Jingying New Materials, Wuxi Kenuowei New Energy, Jiangsu Yingneng Microelectronics, Zhejiang Yitaino Technology, Shengdake Semiconductor Technology (Shanghai), Nanjing Liancheng Technology, Sichuan Aidiweixin Biopharmaceutical, and Zheta Information Group. Three of these companies are in the semiconductor field. Shengdake Semiconductor is a semiconductor testing equipment manufacturer, backed by Hillhouse Capital and SMIC Capital. It previously signed a guidance agreement in 2022 but did not submit its application materials; this time it has restarted the process. Zheta Information is targeting domestic substitution of semiconductor CIM systems, while Yingneng Microelectronics focuses on power and analog ICs; both are first-time applicants. Four other companies are also applying for IPOs for the first time. Jingying New Materials mainly produces N-methylaniline, a core raw material for gasoline antiknock agents; Kenuowei focuses on new energy thermal management and components; Yitainuo is a national-level specialized and innovative "little giant" in the field of industrial automation pneumatic components; and Liancheng Technology is a provider of centralized network security management technology. The other three companies all have previous unsuccessful IPO experiences. PVB membrane manufacturer Deste applied for listing on the ChiNext/STAR Market three times in 2019, 2020, and 2023 without success; wig supplier Haisenlin terminated its IPO guidance twice, in 2023 and 2025; and vaccine R&D manufacturer Advaccine submitted its application for listing on the Hong Kong Stock Exchange's main board in April 2021, but has not yet made progress. (Science and Technology Treasure Broadcast) (Consumer Research Institute)
Market Outlook for Next Week: Fed and ECB Meeting Minutes Released, Market Focuses on Interest Rate Hike Path and Gold Price Movement
Mars Finance reports that on July 5th, global markets will see the release of the Federal Reserve's June meeting minutes, the European Central Bank's meeting minutes, and several important economic data releases next week. The market will focus on the Fed's latest assessment of inflation and interest rate paths, as well as US services PMI and initial jobless claims data. Gold may maintain range-bound trading in the short term. Key points to watch include: • Federal Reserve Meeting Minutes: Released early Thursday morning Beijing time, the market hopes to glean more details about the first meeting chaired by new Fed Chairman Warsh to determine if there is still room for rate hikes by the end of the year. The interest rate market has largely priced in a 25 basis point rate hike in December and believes there is a certain probability of an earlier move in October. • Fed Officials' Speeches: Officials such as Williams, Logan, and Waller will deliver speeches, and the market will focus on whether they will adjust their hawkish stance due to recent weak non-farm payroll data. • European Central Bank Minutes: Released on Thursday, investors will focus on the European Central Bank's latest assessment of economic growth, inflation, and subsequent monetary policy. * **Reserve Bank of New Zealand Interest Rate Decision:** The market expects an approximately 80% probability of a 25 basis point rate hike; attention will be focused on whether it delivers on its previous hawkish guidance. * **Important Economic Data:** Data including the US ISM Non-Manufacturing PMI, the final S&P Global Services PMI, EIA crude oil inventories, and initial jobless claims will be released successively, providing new clues for the market to assess the US economic and interest rate outlook. * **Gold Outlook:** HSBC believes that with real interest rates remaining high and the US dollar relatively strong, gold may maintain range-bound trading in the short term, but central bank gold purchases, ETF inflows, and the global trend of de-dollarization still support its medium- to long-term upward trend. * **Earnings Season Begins:** PepsiCo, Delta Air Lines, Levi's, and other companies will be among the first to release their second-quarter results. The market will focus on consumer demand, profit margins, and full-year earnings guidance, serving as a warm-up for the mid-July bank earnings season.
Bitcoin reclaims 50-week moving average: Is the bear market over?
Bitcoin’s move above its 50-week moving average has historically marked the end of bear markets, but analysts say one weekly close isn’t enough to confirm a new bull run.
SemiAnalysis: Nvidia's system memory spending is projected to exceed 40% by 2027.
Odaily Odaily reports that SemiAnalysis, in a post on its X platform, stated that the proportion of memory in Hyperscaler capital expenditures has sparked considerable discussion, especially after MU released its financial report last week. Some market participants were surprised by the level this proportion might reach next year. SemiAnalysis released its initial view in late February, and many clients disputed its 30% figure. In May, after pricing increases exceeded expectations, SemiAnalysis responded that, after combining DRAM, NAND, and HBM, memory spending in Nvidia systems would exceed 30% by the end of 2026 and surpass 40% in 2027. SemiAnalysis expects this dynamic to become more clear in the coming months.