News

On June 16, Morgan Stanley projected that the oil market may return to balance in the fourth quarter, but will shift back to oversupply by 2027.

Glonghui June 16｜Newmont Mining Corporation has announced a series of executive appointments, including naming Brian Tabolt as Chief Financial Officer, at a time when this gold mining company is reshaping its senior management team under the leadership of its new CEO. The company also announced the appointment of Mark Rodgers as Chief Operating Officer and David Thornton as Chief Technology Officer.

BlockBeats News, June 16th, A survey conducted by the Financial Times in conjunction with the University of Chicago Booth School of Business' Rustandy Center of 47 economists revealed that over half of the respondents expect the Federal Reserve to raise interest rates by at least 25 basis points by the end of 2026 to address the near 3.8% inflation level. This marks a significant reversal in market expectations compared to the majority of economists anticipating rate cuts at the beginning of March. Despite the peace agreement between the United States and Iran, the potential reopening of the Hormuz Strait to navigation to ease energy price pressures, many economists believe that inflation will continue to transmit to the real economy, and high inflation may persist for a prolonged period. The market broadly expects that the first FOMC meeting chaired by the newly appointed Fed Chair Powell will keep interest rates unchanged. However, with the U.S. labor market remaining robust and the economy showing resilience, internal Fed support for future rate hikes is increasing. Joe Lavorgna, Chief Economist for the Americas at Sumitomo Mitsui Banking Corporation who previously served as an advisor to U.S. Treasury Secretary Mnuchin, stated that President Trump's continued calls for rate cuts will not influence Powell's policy decisions, as the interest rate path will ultimately depend on economic data. Furthermore, the Financial Times survey revealed that nearly 70% of the surveyed economists believe there is a higher-than-normal probability of a more than 20% pullback in the S&P 500 index in the next year. They consider current tech stock, particularly the semiconductor sector, to be overvalued, indicating a structural bubble risk in the market.