Wall Street Morning Briefing | July 1, 2026

In May, the US JOLTS job openings slightly rebounded to 7.59 million, surpassing expectations, with labor demand remaining steady.Reports state that a Trump envoy is set to hold indirect talks with Iran in Doha, while Qatar downplays the likelihood of a major breakthrough.Official disclosures reveal that Trump's cryptocurrency business in 2025 has earned over $1 billion, with major holdings in US tech giants.At the end of the month, the People's Bank of China implemented a "one increase, one decrease" operation: overnight reverse repos doubled to 600 billion, precisely smoothing cross-quarter liquidity.China's June manufacturing PMI rose to 50.3, returning to expansion territory, while the non-manufacturing business activity index continued to expand.After surpassing a market capitalization of 1 trillion, Cambricon issued a risk warning. CCTV commented on Cambricon's market cap exceeding 1 trillion: Before the milestone, even more sobriety and composure are needed.Robot girlfriends have arrived! UBTECH launches a major product, with the highest price set at 990 thousand.Anthropic has released its value-for-money ace, Claude Sonnet 5, enhancing agent capabilities and targeting the enterprise AI automation market.There's widespread discussion as reports claim that NVIDIA's Rubin Ultra, comprising 4 chips, was "canceled just three months after release." SemiAnalysis notes, "NVIDIA's market share is being eroded."Reminder: On Wednesday, data will be released on China's June RatingDog Manufacturing PMI, US June ADP Employment Change, and US June ISM Manufacturing Index.