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On May 28, Garrett Jin, the agent of 'BTC OG Insider Whale', released the 'Weekly Market Signal Strategy', stating that geopolitical tensions and the US dollar remain in a stalemate. Following the US strikes on Iranian targets, the situation in the Strait of Hormuz remains unresolved. Although US Secretary of State Rubio mentioned 'good news', Iran's draft peace agreement was denied by the White House. Meanwhile, US long-term Treasury yields continue to hover around a 19-year high of 5.07–5.18%. The S&P 500 index briefly reached a new high but quickly retreated. Garrett Jin believes that a single catalyst is insufficient to break the market; at least two of the three factors—credit, the Federal Reserve, and geopolitical issues—must overlap to trigger a real turning point. Additionally, AI capital expenditure is rapidly spreading from the US to Asia, with ByteDance planning to increase its capital expenditure to as much as $70 billion this year, while Tencent and Alibaba are also raising their spending levels, indicating that AI competition has escalated to a sovereign issue.

(1) In April, U.S. personal spending grew by 0.5% month-on-month, increasing by $111.1 billion. This marks a slowdown compared to the 1% increase (after revision) in March and is in line with market expectations. (2) Goods spending increased by $44 billion, primarily driven by a surge in energy prices due to Middle East conflicts. Spending on gasoline and other energy goods spiked by $28.8 billion. Spending on food and beverages was $9.5 billion, other non-durable goods $8.2 billion, recreational goods and vehicles $8.1 billion, while car spending decreased by $9.2 billion. (3) Services spending rose by $67.2 billion, with housing and utilities ($22.7 billion), recreational services ($12.1 billion), food services and accommodation ($11.3 billion), and final expenditures of nonprofit institutions ($9.9 billion) being the four main driving factors.

Gelonghui May 28｜ 1. The three major US stock index futures edged down slightly: Nasdaq futures fell by 0.1%, S&P 500 index futures declined by 0.05%, and Dow Jones futures dropped by 0.15%. 2. Major European stock indices fell collectively: Germany's DAX index was down 0.65%, the UK's FTSE 100 index declined 0.94%, France's CAC index decreased 0.54%, and the Euro Stoxx 50 index slipped 0.42%. 3. The US April Core PCE Price Index year-on-year growth accelerated to 3.3%, the highest level since November 2023, in line with market expectations; month-on-month growth was 0.2%, expected 0.3%, previous 0.3%. 4. Revised annualized quarterly growth of US Q1 real GDP was 1.6%, expected 2.0%, previous 2.0%. 5. US initial jobless claims for the week ending May 23 reached 215,000, expected 211,000, previous revised from 209,000 to 210,000. 6. Federal Reserve official Goolsbee: Expectations of productivity improvement may push up inflation, forcing the Fed and other central banks to raise interest rates. 7. Early SpaceX investor: Merger with Tesla is "only a matter of time", Musk will seek to consolidate control over his companies. 8. Meta launched a paid AI chatbot service, with monthly fees starting at $7.99. 9. SanDisk CTO: The global AI race depends on memory, not computing power, with HBF products expected to launch next year. 10. Trump posted on social media: Government investment of $8.9 billion in Intel has appreciated to over $51 billion. 11. Dell Technologies was awarded a large US Department of Defense software contract worth about $9.7 billion over 5 years. 12. Toyota’s global sales in April fell 3.1% year-on-year to 849,300 vehicles, marking a decline for the third consecutive month. 13. US media: The Trump administration is advancing financing agreements with several drone companies, including potential candidates such as Unusual Machines. 14. Trump has again filed a $10 billion defamation lawsuit over the Wall Street Journal's Epstein-related report. 15. Futu and Longbridge are cleaning up accounts opened with false documentation, as well as zero-asset and empty accounts.Earnings Announcements:1. Salesforce Q1 revenue grew 13% year-on-year to $11.13 billion, adjusted earnings per share of $3.88, both exceeding expectations; AI products have nearly $3.4 billion in annualized recurring revenue.2. HP Q2 sales grew 9.2% year-on-year to $14.4 billion, but the company lowered its full-year adjusted profit forecast in response to rising memory costs.3. Marvell Technology Q1 revenue reached a record $2.418 billion, net profit was $34.5 million; boosted its FY2028 revenue target due to strong AI-related orders.4. Synopsys Q2 revenue increased 42.5% year-on-year to $2.28 billion, with design automation revenue soaring 62% over last year; raised full-year performance guidance.5. Snowflake Q1 revenue was $1.39 billion, adjusted earnings per share were $0.39, both exceeding expectations; committed to purchasing $6 billion in services and technology from AWS over five years.6. XPeng Q1 revenue fell 17.6% year-on-year to 13 billion yuan, with a net loss of 1.78 billion yuan; Q2 deliveries expected to reach 100,000–106,000 vehicles.7. Futu Q1 revenue grew 24.7% year-on-year to HK$5.856 billion, slightly under expectations; net profit fell 61.2% year-on-year to HK$831 million. The planned regulatory fines and confiscations totaling about 1.85 billion yuan have been provisioned for in the financial report.US stock trading session event to watch:22:00 US April New Home Sales (annualized rate)