Trump will hold bilateral meetings with the leaders of Ukraine and Syria during the NATO summit.

China Galaxy Securities says tech-manufacturing leadership rotated from May’s AI+new energy to June’s semiconductors+AI+aerospace, with sector rotation slowing and market leadership narrowing. Combining macro, style and industry signals, it assesses the current backdrop as macro under pressure but with clear structural themes; despite constrained risk appetite, capital is concentrating on manufacturing upgrades, energy security and AI, driving sustained inflows into sci‑tech innovation, semiconductors, aerospace and manufacturing — which the firm flags as the sectors with the strongest relative-return potential while growth-style remains dominant.

Ninja Trader Live的资深宏观策略师、跨资产交易员Craig Shapiro：美联储主席沃什本周确实没透露太多信息，但他对经济增长似乎相当乐观，主要得益于AI领域的积极因素。考虑到油价下跌以及由此带来的通胀盈亏平衡点走低，虽然我认为加息的门槛可能比市场所认为的要更高，但实际上降息的门槛其实也比市场所认为的要高得多。鉴于沃什对经济增长的积极评估， 要让美联储真正降息，可能需要劳动力市场出现显著恶化。尤其是在他还暗示缩表可能需要更长时间的情况下，这一点就更加重要了。 当然，单一劳动力数据点不足以构成趋势，但如果开始有越来越多的证据表明劳动力市场正在放缓，而与此同时，美联储提供政策宽松的时间线却被拉长（尤其是在通胀仍然高企的背景下），那么我怀疑这将形成对风险资产不利的环境。 在这种环境下，从AI概念股轮动到风险更高的周期股或小盘股等将变得越来越困难，投资者可能只能倾向于防御性板块，或许还有黄金。