rarrarorro/iStock via Getty Images Introduction The VanEck Vietnam ETF ( VNM ), a passively managed product (it tracks the MarketVector Vietnam Local Index ) that has been facilitating coverage to around 50 Vietnamese-incorporated listed businesses since 2009 (currently, coverage extends to 58 Vietnamese stocks in total, with 40% of this portfolio consisting of mid-caps alone), appears to be going through a rough ride in 2026. On a YTD basis, when global markets are up by around 10%, and VNM’s EM peers have managed total returns that are twice as much (as global markets), this ETF in focus has slumped by around 7%. YCharts So, what’s gone wrong with VNM, and is it worth pursuing now? Gulf War Disruptions Could Cap Potential Foreign Inflow Uplift VNM’s underperformance this year may come across as a surprise to a fair few, particularly in light of the FTSE Russell's impending reclassification updates I had written about over a year ago . If I may remind investors, back in May 2025, I had highlighted how this product and the broader Vietnamese markets (which were previously largely propped up by retail flows) were likely to receive a shot in the arm from the foreign institutional investment community because of the country’s impending reclassification from “frontier market” to “EM” by FTSE Russell. We saw an announcement related to this come through in October 2025 (although subject to an interim review in March 2026 to gauge if the regulatory authorities in Vietnam would be taking the necessary steps to ease access to global brokers). In the first week of April 2026, one finally saw the official seal of approval, with Vietnamese stocks set to make it to FTSE Russell’s global equity indices from September 21 ST, 2026 (this will be a phased entry that will carry on through 2027). Following the upgrade, Vietnam was initially expected to benefit from around $6B of foreign inflows (which is quite meaningful when you consider that capital flows to the country over the last...

According to the Internal Revenue Service (IRS), passive income generally includes earnings from rental activity or any trade, business, or investment in which the individual does not materially participate. It can also include income from limited partnerships, stocks, bonds, and other similar enterprises in which the investor is not actively involved. The more passive income ... Need Over $1000 per Month of Passive Income? Our Ultra-High-Yield Portfolio Can Make It Happen

ECB Hikes Rates For First Time Since 2023 (As Expected); Cuts Growth, Hikes Inflation Outlook As fully expected, The ECB hiked its key rate by 25bps (for the first time since 2023) as the policymakers battle with the dilemma of economic weakness combined with rising inflation. Obviously, raising rates to dampen inflation could further slow the economy, while easing rates to support growth increases the risk that higher inflation becomes persistent. Clearly, Lagarde et al went with the former with its well-jawboned baseline having long been a hike in June with risks skewed toward a follow-up move in September (although a move in July can’t be ruled out). “The Governing Council is committed to setting monetary policy to ensure that inflation stabilizes at its 2% target in the medium term . In line with this commitment, it today decided to raise the three key ECB interest rates by 25 basis points. The war in the Middle East is generating inflation pressures, and the decision to raise rates is robust across a range of scenarios mapping out how the shock might evolve and affect the medium-term outlook for the euro area.” On the ECB's growth/inflation dilemma, they wrote: “The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth. The full implications of the war for medium-term inflation and growth will depend on the intensity and duration of the energy price shock, as well as the scale of its indirect and second-round effects. ” The ECB’s new economic projections revise inflation upwards for 2026 and 2027 due to “a higher path for energy prices, which, to some extent, is expected to feed into food, goods and services inflation.” New (higher) inflation forecasts suggest more short-term pain with 2027 and 2028 seeing price pressures ease : *ECB SEES 2026 INFLATION AT 3%; PRIOR FORECAST 2.6% *ECB SEES 2027 INFLATION AT 2.3%; PRIOR FORECAST 2% *ECB SEES 2028 INFLATION AT 2%; PRIOR FORECAST 2.1% Growth is seen slowing in the same p...

随着埃隆·马斯克旗下的SpaceX公司准备于周五在 纳斯达克 市场进行首次公开募股，两家华尔街机构开始对该公司进行评级覆盖。 奥本海默公司首次覆盖SpaceX，给予“跑赢大盘”评级，并设定12至18个月目标价为190美元。这意味着相较于每股135美元的发行价有40%的上涨空间。分析师蒂莫西·霍兰指出，他预计该股将出现波动，但上市初期应会上涨。 纽街研究公司也对SpaceX进行了首次覆盖，设定12个月目标价为165美元，这意味着较发行价有22%的上涨空间。该公司未对该股给出具体评级。 责任编辑：张俊 SF065

Key PointsThe SpaceX IPO is reportedly well oversubscribed, which should lead it to hit its IPO price target.

Everyone wants to get in on the action. That generally doesn't make the best investing opportunities.

沙特阿拉伯取消了实施近五年的黎巴嫩商品输沙禁令。尽管真主党与以色列仍处于交战状态，但此举表明黎巴嫩修复对沙关系的努力初见成效。 沙特官方媒体报道，沙特王储穆罕默德·本·萨勒曼应黎巴嫩领导层请求下令解除禁令，同时“认可黎巴嫩政府为重建国家机构所采取的积极举措”。 沙特曾是黎巴嫩重要的资金与政治后盾，此次决定凸显利雅得正致力于在关键节点助力这个局势脆弱的国家稳定局面。当下黎当局难以约束真主党，以色列还每日对黎巴嫩实施空袭。黎巴嫩总理纳瓦夫·萨拉姆与总统约瑟夫·奥恩第一时间发表声明，向沙特表达谢意。 奥恩表示，禁令解除将“切实助力国民经济复苏，惠及大批黎巴嫩生产商与出口商户”。

美国总统特朗普发文表示，美国今晚将对伊朗采取强硬措施，美国将拿下哈尔克岛（Kharg Island），将完全控制伊朗的石油和天然气市场。受此影响，美股股指期货短线下挫，纳指期货涨幅收窄至0.65%，国际油价拉升。现货黄金短线走低20美元，报4069.45美元/盎司。

美国软件巨头 甲骨文 公司周三盘后宣布，计划通过股权和债务方式额外融资200亿美元，以支持其人工智能基础设施建设。尽管公司当天公布的第四财季财报多项指标创下历史新高，但这一融资计划引发投资者对资本支出过高的担忧，股价在盘后交易中大跌逾8%，周四延续跌势，最终收跌8.6%。 财报显示，截至5月31日的第四财季，甲骨文营收同比增长21%至192亿美元，超出市场预期的191亿美元；调整后每股盈利为2.03美元，同样高于预期的1.96美元。云基础设施业务表现尤为亮眼，营收同比飙升93%至58亿美元，成为整体业绩增长的核心动力。 更令市场瞩目的是，甲骨文截至季末的剩余履约义务达到创纪录的6380亿美元，同比增长363%。这一衡量未来合约收入的关键指标大幅增长，主要来自大规模人工智能合同，其中超过50%的积压订单承诺来自OpenAI。 然而，支撑如此高速增长的成本同样惊人。甲骨文2026财年全年资本支出达557亿美元，超出公司此前500亿美元的预期。公司预计2027财年资本支出将进一步攀升至约700亿美元。2026财年自由现金流为负237亿美元，折旧费用几乎翻倍至76.2亿美元。 为应对庞大的资金需求，甲骨文宣布将在2027财年通过债务和股权融资筹集约400亿美元，其中就包括此次公布的200亿美元股票发行计划。此前公司在2026财年已通过债务和股权分别融资430亿美元和50亿美元。 市场分析人士指出，投资者担忧的焦点在于，甲骨文不像其他超大规模云厂商那样坐拥大量现金储备，在融资方面更受制于市场环境。尽管公司基本面强劲、人工智能需求旺盛，但如此大规模且持续的资本开支何时能够产生回报，仍是市场最大的疑虑。 责任编辑：张俊 SF065

交易员维持对欧洲央行利率预期不变，预计2026年还将加息43个基点。

AMD: Our Next Server Chips Will Trounce Nvidia's Vera PCMag

Liens/iStock via Getty Images Energy Fuels ( UUUU ) up 3.7% pre-market Thursday after saying it expects to achieve its FY 2026 uranium production target from its fully-owned White Mesa Mill in Utah by mid-year , putting the company in position to exceed its guidance. Energy Fuels ( UUUU ) said it expects to reach output of ~1.6M lbs of uranium by the end of June, which falls within its previously stated guidance range of 1.5M-2.5M lbs for the year, equating to average monthly production of more than 265K lbs of U3O8 from the processing of ores mined at the company's U.S . conventional assets, including the Pinyon Plain mine in Arizona and La Sal Complex in Utah . As planned, the company said it expects to complete the current uranium ore processing campaign at White Mesa by the end of June to rebuild ore stockpiles, then resume ore processing in Q4, subject to continued strong ore production at the conventional mines, uranium market conditions, and the potential for a rare earth element processing campaign. The company also said permitting for planned phase 1 modifications and phase 2 rare earth expansion in Utah is proceeding on schedule, with phase 1 expected to become operational in late 2027 to early 2028. More on Energy Fuels Energy Fuels: Down 36% In A Month, A Dip Worth Buying For Patient Investors Energy Fuels Is A Very Cautious Buy, On Q1 Results, And Long-Term Prospects (Rating Upgrade) Energy Fuels: The Overlooked Uranium And Rare Earth Breakout Story

AMD: Our Next Server Chips Will Trounce Nvidia's Vera PCMag Australia

AMD: Our Next Server Chips Will Trounce Nvidia's Vera PCMag UK

AMD: Our Next Server Chips Will Trounce Nvidia's Vera PCMag Middle East

瑞立科密公告，拟发行股份购买程毅先生持有的武汉瑞立科德斯汽车电子有限责任公司16%股权。深圳证券交易所并购重组审核委员会于2026年6月11日召开2026年第6次并购重组审核委员会审议会议，对本次交易的申请进行了审议。根据深圳证券交易所并购重组审核委员会发布的《深圳证券交易所并购重组审核委员会2026年第6次审议会议结果公告》，本次会议的审议结果为：本次交易符合重组条件和信息披露要求。

M. Suhail/iStock Editorial via Getty Images Investment overview I wrote about Best Buy Co., Inc. ( BBY ) previously with a buy rating, as BBY was indeed showing that growth was inflecting and margins were improving. I am now moving to a hold rating. The quarter was good, and the core parts of my earlier thesis are still playing out: CSG turned positive, Marketplace and Ads are scaling, and margins expanded. But the setup is no longer as clean. Appliances and CE remain weak, guidance was not raised, and the stock already reflects a good portion of the improvement. 1Q27 earnings BBY reported Q1 2027 results a while back, with revenue up ~2% y/y to $8.9 billion, of which comparable Enterprise sales grew 2%, a clear step up from the -0.7% seen last year. Domestic revenue saw ~$8.25 billion, up 1.5% y/y, supported by 1.8% comparable sales growth (CSG). International revenue saw $687 million, up 7.3% y/y, driven by 4.7% CSG and a favorable FX impact. Domestic online revenue saw $2.6 billion, supported by 1.4% CSG, driven by gaming, computing, mobile phones, and services. By category, Domestic Computing and Mobile Phones grew 4.2% CSG, Consumer Electronics (CE) fell 2.7%, mainly from home theater, headphones, and portable speakers. Appliances fell ~14%, mainly from large appliances. Services, on the other hand, grew 5.5%, helped by Best Buy Marketplace and credit card revenue. Entertainment was a small mix of revenue (7% of Domestic revenue) but grew the fastest at ~38%, driven mainly by gaming. Finally, International did better vs. domestic, with mobile phones, gaming, and digital imaging driving CSG. It was also encouraging that profits went up alongside revenue with consolidated gross profit coming in at ~$2.1 billion, and margins up by 10bps y/y to 23.5%. While that seemed small, operating leverage was evident as EBIT went up significantly to $370 million, vs. $219 million last year, and EBIT margin expanded by 160bps y/y to 4.1%. Overall, this led to adj. diluted EPS ...

Hodges Capital Management Inc. Sells 3,207 Shares of Tesla, Inc. $TSLA MarketBeat

Karp says enterprise customers are unhappy with frontier AI labs as OpenAI and Anthropic move toward potential public listings.

Palantir Drops 4% as Karp Warns on AI Lab Frustration TradingView

在今天（11日）召开的商务部例行新闻发布会上，新闻发言人何亚东表示：近年来，在政策支持和产业发展的驱动下，“中国服务”的国际竞争力不断提升，特别是知识密集型服务出口实现较快增长。商务部新闻发言人何亚东介绍：前4个月，我国服务出口同比增长15%。其中，知识密集型服务出口占总体服务出口比重超五成。（央视新闻）

While New Street Research analyst Pierre Ferragu went more conservative with no rating, analysts at KGI and Oppenheimer opted for a Buy rating.

美国铝业公司 股价在周四盘前交易中上涨约2%，收复了前一交易日的部分失地。此前 摩根士丹利 发布报告称，该股周三近10%的下跌幅度过度，并重申了对美铝的买入评级。 周三，美铝股价大跌9.47%，收于65.55美元。此次下跌主要源于公司管理层发布的最新指引。美铝此前警告称，其氧化铝业务面临短期盈利压力，同时澳大利亚地区的氧化铝出货量因气旋影响而有所下降。 面对市场的剧烈反应，摩根士丹利在周四发布的报告中指出，尽管该公司已下调了对美铝第二季度及2026年全年的盈利预测，以反映管理层的最新指引，但认为昨日市场近10%的跌幅反应过度。该机构分析称，美铝更新的指引对其2026年盈利预期的影响幅度实际上仅约为2%。基于这一判断，摩根士丹利维持对美铝的增持评级，并将其目标股价定为79美元。 作为一家垂直整合的铝业公司，美铝的业务涵盖铝土矿开采、氧化铝精炼以及原铝生产。尽管氧化铝业务面临短期挑战，但摩根士丹利认为这并不足以支撑如此大幅度的股价下跌。该机构重申其买入评级，表明对美铝长期基本面及估值修复潜力的信心。 在摩根士丹利的积极评论推动下，美铝股价周四盘前交易中继续回暖，截至发稿时上涨约1.6%至66.65美元，市场情绪得到一定修复。 责任编辑：张俊 SF065

The noughties girl group are back for a reunion gig to celebrate the 25th anniversary of their debut album.

核心要点 5 月，美国超越其他国家，成为印度液化天然气、液化石油气第一大供应来源。 中东冲突导致霍尔木兹海峡航运受阻，印度难以从海湾产油国进口油气。 在美国政府大力推动对南亚出口能源的政策下，印度自美国采购的天然气规模持续稳步增长。 2026 年 4 月 14 日周二，美国路易斯安那州卡梅伦市萨宾帕斯液化天然气接收站。 受霍尔木兹海峡航运中断影响，海湾国家对印度油气运输量大幅下滑，5 月美国一举成为印度液化天然气（LNG）与液化石油气（LPG）最大供应国。 印度 60% 的液化天然气、几乎全部液化石油气都依靠这条关键航道进口。自 2 月 28 日美以首次打击伊朗以来，霍尔木兹海峡航运秩序持续受扰。 能源数据分析机构克拉克森（Kpler）数据显示：5 月美国向印度出口液化石油气 63 万吨，而印度从所有海湾国家合计进口量仅 38 万吨，美国供货规模高出约六成。 克拉克森统计，5 月美国向印度出口液化天然气 90 万吨，占印度当月总需求四成以上，相较 4 月供应量翻了三倍。 业内专家表示，中东冲突推高了美国油气出口规模，而美国政府长期推动扩大对印能源出口，同样是增长核心推手。早在冲突爆发前，印美两国能源贸易合作就已持续深化。 能源情报机构克拉克森首席研究分析师苏米特・里托利亚在 CNBC 采访中称：“未来印美能源贸易的核心将逐步聚焦天然气领域。” 他补充道，美国页岩油气资源储量丰厚、出口配套设施持续扩建，在印度推进天然气进口来源多元化的进程中占据得天独厚的优势。 美国抢占印度市场份额 冲突爆发前，高昂海运成本一直制约美国天然气在印度市场拓展份额。而印度气源断供海湾后，不得不加大采购美国油气船货。 雷斯塔德能源大宗商品市场（原油、凝析油、液化石油气、石脑油）高级副总裁马尼什・塞杰瓦尔通过邮件向 CNBC 表示：“在此之前，中东液化石油气到岸成本长期低于美国货源，美国始终难以打开印度市场。” 塞杰瓦尔预测，截至 6 月底，美国对印度液化石油气出口量或将突破 100 万吨大关。 液化石油气在印度主要用作居民炊事燃料，其供应稳定与价格波动具备高度政治敏感性，印度官方一直出台政策，避免国内普通家庭承受国际油气涨价冲击。 国际投行野村证券周三发布研报指出，印度天然气进口格局转向，美国是 “最大受益方”；报告测算，美国对印度油气出口量较冲突前暴涨 8 倍。 野村印度能源股票分析师比内...

Sundry Photography/iStock Editorial via Getty Images Target ( TGT ) shareholders voted on Wednesday to retain the current corporate structure in which former CEO Brian Cornell would remain as the company’s executive chairman rather than appoint an independent director. The decision has implications for governance as it puts Cornell in a position superior to Fiddelke, who was promoted from COO in February to help facilitate a turnaround in the struggling retailer. During Cornell’s tenure at Target, the company leaned heavily into progressive issues such as transgender merchandising during Pride Month. Store displays subsequently unleashed social media backlash and boycotts in May 2023, reflected in a 5.4% drop in comparable store sales during the impacted quarter. The financial strain and difficulty luring back Target’s core customer contributed to Cornell’s decision to step down last August. Since Fiddelke stepped into the CEO role, Target ( TGT ) shares have risen ~17%. More on Target Target's Bear Case Is Looking Less Solid As Sales And Traffic Begin To Rebound Target: Take Some Chips Off The Table (Rating Downgrade) Target Corporation (TGT) Q1 2026 Earnings Call Transcript Target raises dividend by 1.8% to $1.16 a share Insider trades: Nvidia, Intel, Verizon among notable trades

Nakamoto ( NAKA ) reduced outstanding debt by ~$45M using $48M of proceeds from selling about 600 BTC and related derivatives. The company refinanced its remaining debt, extending 105M USDT of principal maturity to June 30, 2027. Remaining debt totals 165M USDT, with 60M USDT due in December 2026 and 105M USDT due in June 2027. The new loan agreement lowers the interest rate from 8.0% to 7.75%, subject to collateral requirements. Annual financing costs are expected to decline by ~$4M. Nakamoto retained a Bitcoin treasury of ~4,467 BTC after the debt repayment. The board approved a share repurchase program of up to $25M through December 31, 2026. The company regained compliance with Nasdaq’s minimum $1 bid-price requirement on June 9, 2026. More on KindlyMD Nakamoto announces 1-for-40 reverse stock split BitFuFu sees lowest short interest in April among small and microcap firms Seeking Alpha’s Quant Rating on KindlyMD Historical earnings data for KindlyMD Financial information for KindlyMD

魅视科技公告，第二大股东、董事及控股股东一致行动人叶伟飞拟自2026年7月6日至2026年10月5日，通过集中竞价减持不超过143.43万股，占总股本1%；通过大宗交易减持不超过286.86万股，占总股本2%，减持原因为自身资金需求。

Key PointsSpaceX is expanding its business model beyond rocket launches and Starlink subscriptions.

Expansion adds seven markets as Wing surpasses 1 million commercial drone deliveries and targets 40 million U.S. residents.