UK June construction PMI 38.4, vs 40 expected and 38.2 prior.

The China Earthquake Networks Center officially reported that a magnitude 3.3 earthquake occurred at 21:41 on July 5 in Gongliu County, Ili Prefecture, Xinjiang (43.58 degrees north latitude, 82.51 degrees east longitude), with a focal depth of 22 kilometers.

International 1. JPMorgan Chase: Gold is under short-term pressure, potentially reaching $4,500 in the second half of 2026. 2. BNP Paribas: The likelihood of Fed action in July has decreased. 3. Bank of America: US stocks experienced the largest outflow in three months. 4. Bank of America: Raised its year-end target for the Stoxx Europe 600 index to 630 points, but maintained an underweight rating. 5. Nomura Securities: The global memory industry is still facing a severe supply shortage, and AI-driven structural demand growth has not yet peaked. 6. ANZ: Despite fading inflation risks, the Reserve Bank of New Zealand may still raise interest rates. 7. ANZ: Risks in the Strait of Hormuz remain, and OPEC+ members are unlikely to utilize new capacity. 8. UBS: Raised its memory price forecast: The DRAM/NAND price increase cycle will continue into 2027. Domestic 1. CICC: Recommends buying agricultural products on dips in the medium to long term. 2. CITIC Securities: A double boost in valuation and earnings for the gold sector is anticipated at the bottom. 3. CITIC Securities: Aluminum prices will still have a cost curve of $3,000/ton after the second half of 2027. 4. CITIC Securities: Tightening supply and demand, increased sodium electricity production, and promising prospects for aluminum foil. 5. CITIC Securities: Two factors are expected to catalyze the recovery of some non-AI sectors with strong performance. 6. Everbright Securities: The semiconductor and AI wave are driving fluorine-containing new materials into a period of rapid growth. 7. China Merchants Securities: Focus on the dual themes of technology recovery and interim results after short-term shocks. 8. BOC Securities: Oil prices are gradually declining, and the travel industry chain is expected to recover in Q3. 9. BOC Securities: Structural breakthrough focuses on science and technology manufacturing, with the main theme shifting to semiconductors, AI, and aerospace. 10. Industrial Securities: The relative strength of the economic climate and the relative changes in performance remain the core clues for allocation. 11. Guotai Haitong: Bullish on CCL/high-end MLCC/indium phosphide, etc., which have strong certainty of price increases. 12. Guotai Haitong: Thematic investments in robotics, commercial aerospace, AI new materials, etc., are rebounding. 13. Huatai Securities: High export growth in South Korea indicates that global AI supply chain trade is still on an upward trend, and the Asian AI supply chain is expected to continue to benefit.