Instead of trying to beat the market, this trillion-dollar ETF offers the same returns as the S&P 500 index.

Key PointsThe Vanguard S&P 500 ETF recently surpassed $1 trillion of assets, making it easily the largest ETF.

President Trump has appointed Bill Pulte as the Acting Director of National Intelligence which has mixed reactions from lawmakers on both sides of the aisle. Republican Congressman Greg Steube joined David Gura and Christina Ruffini on Bloomberg This Weekend to discuss his opinion on Pulte's appointment. (Source: Bloomberg)

格隆汇6月7日｜中信建投研报称，根据中指研究院统计，5月百城二手住宅均价环比下跌0.32%，跌幅较上月收窄0.14个百分点，同比下跌7.99%，较上月收窄0.35个百分点，上海二手房价格已连续3个月上涨，楼市持续向止跌回稳目标迈进。本周深圳南山宅地被保利置业以总价57.7亿元竞得，溢价率达150.7%，10.9万元每平方米的成交楼面价刷新深圳宅地楼面价记录，核心城市优质地块持续受到市场认可。

The Deputy PM called the US Vice President and told him he’s wrong over Henry Nowak post.

Key Points5,000 shares were sold for a total transaction value of ~$1.14 million on June 1, 2026, at a weighted average price around $227.06 per share.

AI进化速递丨OpenAI计划将ChatGPT转型为“超级应用” ①OpenAI计划将ChatGPT转型为“超级应用”； ②陈茂波：香港AI+与产业发展策略委员会顺利组成； ③黄仁勋会见韩国两大游戏商代表共商游戏AI合作方案； ④优必选：优世界超仿生人形机器人首发预订单量6天累计突破2110台。

Nikola Stojadinovic/E+ via Getty Images American consumers continue to spend despite higher fuel costs tied to the conflict with Iran, but retailers and analysts say many households are becoming more selective about where and how they spend their money, the Associated Press reported Sunday. The shifts have been gradual so far. Consumers are making more trips to discount fuel stations, sticking closer to shopping lists and cutting back on discretionary purchases such as clothing, furniture and restaurant meals. Retail executives say the pressure is most visible among lower-income households, though some higher-income shoppers are also seeking value. For consumers, the trend suggests that rising fuel costs are beginning to affect everyday spending decisions beyond the gas pump. While many households have remained resilient thanks in part to tax refunds, economists warn that higher costs for fuel, food, insurance and other essentials could leave consumers with less room for discretionary spending in the months ahead. Warehouse clubs including Costco ( COST ), Sam's Club ( WMT ) and BJ's Wholesale Club ( BJ ) have reported increased traffic at their gas stations as drivers seek lower prices. Retailers also say customers are purchasing smaller amounts of fuel per visit and topping off tanks more frequently rather than filling them completely. Higher gasoline prices appear to be influencing behavior elsewhere. Grocery shoppers are buying more items in bulk, opting for lower-cost alternatives and passing on impulse purchases. Some consumers report cutting back on nonessential items, including pet products and convenience foods. Restaurant spending has held up relatively well, supported by tax refunds, but industry data suggests higher fuel prices eventually weigh on dining frequency. Analysts say restaurant visits tend to decline as gasoline prices rise, particularly when national averages move above $4 per gallon. Retailers are also seeing consumers shift spending toward ...

Vanguard FTSE Emerging Markets ETF (NYSEMKT:VWO) provides a significantly lower expense ratio and higher dividend yield than iShares MSCI Emerging Markets ETF (NYSEMKT:EEM) , which maintains a higher technology weighting. Both funds provide exposure to developing economies but follow different index providers. While the iShares fund tracks the MSCI Emerging Markets Index, the Vanguard fund follows the FTSE Emerging Markets All Cap China A Inclusion Index, leading to meaningful differences in costs, risk profiles, and specific country weightings. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield. Continue reading

EvgeniyShkolenko/iStock via Getty Images The landscape with AIRO Group Holdings ( AIRO ) has materially changed over the course of the last year. AIRO seems to move away from the speculative aspect of the eVTOL story and towards its drone business focused on the military sphere. This idea is based on a realistic market opportunity for AIRO due to the large company backlog of $150 million, the possibility of Blue UAS certification, and increasing NATO demand. On the other hand, the increased probability of execution failure has become rather worrying. After all, the Q1 results included a 25% drop in revenue, a collapsed profit margin of 26.6%, and a worsening of profitability issues. The most important question for AIRO is not about the size of the opportunity but about successful execution. What Has Changed As an analyst, I would present AIRO quite differently now than I did back early this year. Indeed, the initial buzz was generated mainly by the fact that it possessed a full-fledged platform concept and eVTOL capabilities. Today, it seems that management decided to pivot from the broad platform towards defense-related drone products. However, eVTOL vehicles still look like a futuristic product, whereas drones for the military are a current reality. AIRO apparently recognized it. The key question is whether or not the management will succeed in making this pivot. Historically, the company enjoyed robust growth in the triple digits. However, by 2025 the trend was slowing down and reaching just 4.6%. The latest Q1 results moved the company even further behind its peers. Okay, yes, management may still promise a stellar fourth quarter and second-half growth in 2026. But then again, I prefer to put my faith in the proof of the pudding. So at this point, the most critical element of AIRO lies in discussions about the backlog. It's quite remarkable how AIRO has a backlog exceeding $150 million while only earning close to $90 million each year. However, the backlog will ...

Germany's First F-35 Stealth Fighter Moves Closer To Service With Key Engine Installation Authored by Sujita Sinha via Interesting Engineering , Germany's first F-35A fighter jet is now closer to delivery after its engine was installed during final assembly, according to Lockheed Martin. This milestone shows steady progress on one of Germany's biggest defense modernization efforts since the Cold War. Germany's first F-35 reaches a key production milestone as its powerful F135 engine is installed. Lockheed Martin Europe/X Lockheed Martin Europe posted the update on social media, describing the engine installation as "another key production milestone on the path to delivering advanced 5th Gen capability for Germany." The company shared photos of the aircraft on the assembly line as workers installed the Pratt & Whitney F135 engine. Now that the engine is in place, the jet will move on to final testing before its first flight and handover to the German Air Force. Powerplant Transforms Aircraft Into Operational System Germany's first F-35 uses the Pratt & Whitney F135, which is the most powerful engine in any Western fighter jet today. It produces about 43,000 pounds of thrust with afterburner and is a key part of the jet's design. The F135 was made specifically for the F-35 and cannot be swapped for another engine. Besides providing power, it also helps the jet stay stealthy. Engineers shaped the exhaust nozzle and air intake to lower radar visibility from different directions. Installing the engine is a major step in final assembly because it marks the change from a finished airframe to a working combat jet. After the engine is in, technicians start checking how the propulsion system works with the jet's controls, sensors, and software. Die Power hinter Deutschlands erster F-35 🇩🇪 Mit dem erfolgreichen Einbau des Triebwerks hat das Flugzeug einen weiteren wichtigen Meilenstein erreicht - auf dem Weg zur Auslieferung modernster Fähigkeiten der 5. Generation für Deutsch...

目前中新航线的恢复率远超疫情前的水平，相比之下，疫情前同样受欢迎的中泰航线，恢复率只有59.3%。 多家东南亚航司因为油价高企被迫停飞部分中国航线之际，新加坡航空在6月初开通了每日一班的新加坡—杭州直飞航线，这是新航在中国内地落子的第9个航点，也是整个新航集团（包括新航及酷航）在中国内地运营的第22个航点。 随着杭州航点的开通，新航每周共运营112个航班往返于中国内地与新加坡之间，超过了疫情前每周91班的水平，并且通过窄体机换宽体机，座位数也大大增加。 不仅仅是新加坡航空，第一财经记者了解到，目前中新航线的恢复率远超疫情前的水平。航班管家数据显示，截至今年5月，中新航线的恢复率达到114.7%，相比之下，疫情前同样受欢迎的中泰航线，恢复率只有59.3%。 谁在飞去新加坡 杭州机场总经理周节告诉记者，在新航入驻之前，杭州往返新加坡的航线已有四家航司运营。今年以来，杭州与新加坡两地往来旅客已达8.5万人次，同比增长11.9%。 这也是新航在已有一天五班上海-新加坡航线运营的基础上，敢于进一步增开华东直飞航线的原因。 “中国出境出行市场保持增长态势，跨境商旅、休闲出行需求稳步扩容。在刚刚过去的2025-2026财年（2025年4月至2026年3月），新航集团承运往返中国内地及新加坡的旅客总量超400万人次，比上一财年增加8.1%。”新加坡航空公司市场规划高级副总裁戴浩宇这样总结增班原因。 记者了解到，自2024年2月9日中国除夕开始生效的中新互免签证政策，是中新旅客量持续增长的重要动力。 2023 年，中国赴新加坡游客达136 万人次，略少于印度尼西亚，位列第二，但到了2024年，中国游客人数翻了两倍多，中国也重回新加坡最大客源地。 新加坡旅游局数据显示，2024年中国大陆游客到访新加坡达308万人次，同比增长126%，占新加坡总入境游客比重的18.7%。2025年进一步增加，连续两年位列新加坡第一大客源国。 据2024新加坡入境游白皮书披露，中国赴新加坡旅行的高端客群集中在30-39岁，追求高品质体验，对价格不敏感，偏好有行政酒廊服务、位于核心商圈的4-5星钻级酒店，认可ESG（可持续）酒店，旅游产品上，钟情私人定制小团体游、私家团或自由行。 这与新航的观察类似：疫情后中新航线上的旅客结构在发生变化，到新加坡的团队游客减少，自由行乘客增多，他们也更愿意选择服务更好价格更...

Rangsarit Chaiyakun/iStock via Getty Images Hawkins ( HWKN ) is a specialty chemical company that sells value-added products. It has diversified end markets but is increasingly focused on water chemical treatment through a growth-by-acquisition strategy. The share price has risen considerably since I last wrote about it. As a dividend growth stock, Hawkins is familiar as a Dividend Contender with a 21-year streak of annual increases and outstanding safety. The company has many attractive attributes, including past success at bolt-on M&A, a still sound balance sheet, and growing revenue, earnings, and operating income. However, debt, leverage, and interest expenses are climbing, and the recent WaterSurplus acquisition has created financial headwinds. Next, the equity is overvalued with an earnings multiple that is well above the historical average with the lowest dividend yield in a decade. Moreover, the stock is overvalued using multiple other metrics. Hence, I view Hawkins as a 'sell.' Overview of Hawkins Hawkins, Inc. is a small chemical company founded in 1938 and went public in 1972. It is headquartered in Roseville, Minnesota. Today, it manufactures and sells value-added and bulk ingredients, chemicals, and services to industrial, manufacturing, and municipal customers in the United States. The company operates in three segments: Water Treatment (~50% of revenue), Food & Health Sciences (~30% of revenue), and Industrial (~20% of revenue). It owns 66 facilities in 28 states, including 54 branch locations, 10 manufacturing facilities, two main offices, and rail and barge access. Key brands are Stevia, Hereditium, Fermentalg, Lipofoods, Epax, Aquamin, Covico, Panmol, Pomma, Nippi, etc. The CEO is Patrick Hawkins, a member of the founding family. He owns about 1.5% of the company. Total revenue was $1,083.7 million in the fiscal year 2026 and in the last twelve months ("LTM"). The fiscal year ends on the last Sunday in March, and the company operates one year ahead...

浙江省温州市生态环境局瑞安分局今天发布通报：6月7日，瑞安市汀田大典下河一段水体出现异常，分局接报后立即启动应急调查处置。当日5时50分，接某织带有限公司报告，因储罐阀门密封失灵导致原料水性胶水泄漏至毗邻河道，事发后企业已对泄漏罐体进行堵漏，切断污染源头。6时15分，应急、监测人员及专家到场勘查，根据泄漏物特性，制定并实施应急处置方案。至14时许，河面及水质均恢复正常。分局将督促该公司全面整改，并依法立案调查。下一步，将加密河道监测频次，持续跟踪水质动态，确保河道生态安全。（央视新闻）

Roman Tiraspolsky/iStock Editorial via Getty Images Investment Thesis BuzzFeed ( BZFD ) is an interesting turnaround story, from a distressed digital media stock into a still distressed but turnaround stock controlled by Byron Allen. The Allen transaction improves BuzzFeed's survival odds. However, the deal was not a clean deal; 40 million shares were bought at $3.00 per share, but only $20 million of those shares were paid in cash, with the rest secured largely by a circular financing scheme using the acquired shares as collateral. For that reason, I do not view the $3.00 purchase price as a clean valuation anchor. BuzzFeed's TTM and recent Q1 financials still show a business in decline, with dropping top and bottom lines, with core business metrics like total time spent dropping. The company and the stock can reverse their fortunes if Allen can use his experience in media to cut costs, drive revenue, and turn around this struggling digital media company; then I can see BuzzFeed giving double-digit IRR from here on out. However, until there is proof of that, I view BuzzFeed as too speculative for most fundamental investors. Business Overview BuzzFeed's revenue sources come from its digital media brands (BuzzFeed, HuffPost, and Tasty), with revenue split across advertising, content, and commerce/other. The advertising revenue comes from ads placed against content, within owned sites, and also third-party platforms such as YouTube. Content revenue comes from custom-branded content, licensing, studio projects, and other film/content-related work. Commerce and other revenue are mainly affiliate commissions from shopping links and product licensing. Over the past few years, the company's capital assets, or asset base, have changed quite a bit. BuzzFeed sold First We Feast , which is the division behind the famous talk show "Hot Ones," for $82.5 million in cash. Those sales helped reduce debt, which was and still is a big issue for BuzzFeed, but also removed one of the c...

Investors were confronted this past week with four difficult realities that may fundamentally change the way they think about AI the business vs. AI the technology:

And the stock jumped again in June with an endorsement from Jensen Huang.

Key PointsAMD reported a small investment in Marvell last month.

Key PointsiShares U.S. Aerospace & Defense ETF offers a more cost-effective way to track the sector.

Micron Technology's Stock Surge Outlook Remains Positive Intellectia AI

格隆汇6月7日丨据以色列第12频道，以色列空军的3枚导弹击中了贝鲁特南郊的两处公寓。

We Are/DigitalVision via Getty Images Executive Summary Fixed income markets navigated a quarter defined by geopolitical disruption and shifting monetary policy expectations. Q1 began on constructive footing — inflation continued its gradual descent, credit spreads held near historic tights, and the Fed's patient stance provided a stable backdrop. That narrative unraveled in March as the war in Iran closed the Strait of Hormuz, drove oil prices sharply higher, and forced markets to rapidly reprice both inflation and growth. The 10-year Treasury yield ended the quarter at 4.32%, nearly flat to year-end 2025, but the path there was anything but. Against this backdrop, the Victory Income Fund (Institutional Shares) underperformed its benchmark, the Bloomberg U.S. Aggregate Bond Index, for the quarter ended March 31, 2026. Market Update & Commentary Fixed income markets entered 2026 with cautious optimism, and for much of the quarter, that optimism was rewarded. Inflation continued its gradual moderation — December CPI held at 2.7% year-over-year before declining to 2.4% by January — reinforcing the view that the Fed remained on a patient but ultimately easing path. Corporate credit spreads tightened to their narrowest levels since 1998, touching 71 basis points for investment grade, as robust demand and broadly constructive risk sentiment prevailed. The nomination of Kevin Warsh as Fed Chair introduced a new variable: his well-documented opposition to quantitative easing gave markets pause, even as his more recent commentary struck a somewhat more accommodative tone. The quarter's constructive narrative began to fracture in February. AI-driven disruptions in technology credit, the Supreme Court's ruling against the administration's tariff authority, and the initial U.S./Israel military strikes on Iran competed for investor attention, generating volatility even as headline index returns remained positive. The 10-year Treasury yield drifted to 3.95% by month-end as geopo...

Watch all five of Gus Atkinson's wickets as he finishes with figures of 5-30 in New Zealand's second innings to help England secure a 115-run win in the opening Test at Lord's.

Taiwan coast guard 'expels' Chinese ships from restricted waters Reuters

格隆汇6月7日丨美国起草的国际原子能机构理事会会议决议强调，伊朗的核不扩散条约保障协议不能单方面修改或暂停。

Key PointsSpaceX is holding its IPO, aiming to raise a massive $75 billion.

中信建投研报称，美国5月非农数据爆表，引发年内加息预期上升，权益市场遭受考验。本周工业金属权益标的再次遭遇普遍抛售，与保持坚挺的工业金属价格形成鲜明对比。金属价格坚挺意味着基本面优异，分子端盈利水平保持高位，但股票不断下跌将PE压低到很低的水平，凸显了当前交易风格的极致。霍尔木兹海峡通航打断高油价—高通胀—高无风险利率的螺旋，是最有利于工业金属反弹的情形。另外，交易筹码若重新分配，基本面优异的金属不失为资金的优先选项。

格隆汇6月7日丨据CCTV国际时讯，美国全国广播公司称，由于美国与以色列在对伊朗和黎巴嫩的战事走向问题上分歧加大、关系趋紧，美国国防部下属国防情报局近期更新内部反间谍威胁评估，将针对以色列的威胁等级上调至最高级。美方官员透露，美方担忧以色列监视本国高级官员，借机获取美国在中东冲突议题上的内部商议与决策信息，美国总统特使威特科夫也被列为以方重点监视对象。针对以上报道，以色列驻美大使馆发表声明称，以色列对美国进行间谍活动的说法 “完全是无稽之谈”。美国白宫一名官员回应称，“整篇报道纯属虚构”。