The three major U.S. stock indices closed slightly higher, while tech stocks showed divergent performance
According to ChainCatcher and Gate market data, U.S. stocks closed up 0.36%, the S&P 500 gained 0.02%, and the Nasdaq gained 0.07%. Tech stocks showed mixed performance: Micron Technology rose 3.63%, Tesla gained 1.66%, Qualcomm fell over 6%, and Intel dropped 1.4%.
Cook: The labor market is "basically stable," but downside risks are increasing
According to ChainCatcher and Jin Shi, Federal Reserve Governor Tim Cook stated that the labor market is "basically stable," but downside risks are increasing.
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ChainCatcher and 2 sources
Cook: If the labor market worsens, the Fed will be prepared to cut rates
According to ChainCatcher and Jin Shi, Federal Reserve Governor Tim Cook stated that if the labor market deteriorates, the Fed will be prepared to cut interest rates.
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ChainCatcher and 1 source
Cook: Short-term shocks may push inflation higher in the medium term
According to ChainCatcher and Jin Shi, Federal Reserve Governor Tim Cook stated that even short-term shocks could push inflation higher in the medium term.
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ChainCatcher and 1 source
Federal Reserve Governor Tim Cook is currently expected to keep interest rates stable
According to ChainCatcher and Golden Ten, Federal Reserve Governor Tim Cook stated that the right course of action now is to keep interest rates stable.
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ChainCatcher and 1 source
Cook: Risk tends to be higher in inflation, and inflation is heading in the wrong direction
According to ChainCatcher and Jin Shi, Federal Reserve Governor Tim Cook stated that current risks lean toward higher inflation, which is clearly heading in the wrong direction.
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Odaily and 1 source
Goldman Sachs: In the first month of the US-Iran conflict, the US dollar strengthened, and foreign official institutions sold US Treasury bonds
Odaily Planet Daily reports that Goldman Sachs stated that the US dollar strengthened in the first month of the US-Iran conflict, prompting foreign official institutions to sell US Treasury bonds. Goldman Sachs strategists point out that these shifts seem to occur as some foreign governments are working to support their national currencies and ease capital outflows during the war. This is likely a temporary pattern and does not indicate a structural shift in demand for U.S. Treasuries.
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币界网 and 1 source
A Texas bank in the United States completes its regulatory transformation, challenging Wall Street
According to Bijie.com, United Bank (UTB) of Texas received approval from the U.S. Office of the Comptroller of the Currency (OCC) on May 15, completing its transformation from a state-state financial institution to a national bank. UTB CEO Scott Baker stated that this transformation aims to build it into a major bridge between the cryptocurrency industry and traditional financial institutions. Baker pointed out that UTB has become a major asset for several well-known crypto companies, with annual trading volumes exceeding $120 billion. This transformation makes UTB one of the first banks in the U.S. to successfully complete OCC transformation, granting it the same federal licenses and fiduciary powers as JPMorgan Chase and Bank of America. Baker also mentioned that UTB clears about $10 billion in US dollar transactions each month for foreign banks and major exchanges.
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ChainCatcher and 2 sources
United Texas Bank transitioned to a national banking license and launched a crypto payment network
According to ChainCatcher, United Texas Bank, headquartered in Dallas, has transformed from a chartered bank in Texas into a national bank approved by the Office of the Comptroller of the Currency, positioned as an institution connecting global crypto companies with the U.S. banking system. United Texas Bank stated that it currently has the same federal licensing and direct access to the Federal Reserve as major currency center banks, and has cleared about $10 billion in dollar trading volume per month for global crypto companies.
The bank is launching the 24/7 AI-driven payment network UTB Atomic, complemented by its compliance platform UTB Prism Sentinel to restore round-the-clock crypto liquidity and comply with emerging federal rules related to digital assets and stablecoins.
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币界网 and 1 source
Meta launched an AI chatbot subscription service
According to Bijie.com, Meta Platforms (meta.o) has launched its consumer subscription service for its AI chatbot for the first time, aiming to help offset the company's trillions of dollars in AI investments. The new subscription service is offered in two tiers: Meta One Plus at $7.99 per month and Meta One Premium at $19.99 per month. Meta first launched the service in Singapore, Guatemala, and Bolivia, and will later expand to more countries. Users can still use Meta's AI chatbot for free image and video generation, but as usage increases, usage limits will eventually be reached. Meta declined to disclose usage limits for each tier but stated that high-tier members use significantly more than lower-tier members.
