US May PPI unexpectedly fell, US stock futures extended gains, Tesla surged 6% pre-market, Musk's $56 billion compensation approved

The 2-year US Treasury yield fell to 4.66%, the lowest level since April 5th. Bilibili rose nearly 6% as its mobile game "Three Kingdoms: Strategy Conquest" entered public beta testing on Thursday. Nvidia surged over 2%, while TSMC rose over 1%. Broadcom soared over 14% after reporting higher-than-expected revenue for the second quarter and raising its full-year guidance, along with announcing a 10-1 stock split plan. European stocks extended losses. Bitcoin dropped over 3%. Gold, silver, copper, and oil all declined

U.S. May PPI unexpectedly saw the largest month-on-month decline since October last year, providing solid evidence of cooling inflation, with slight gains in the futures of the three major U.S. stock indexes on Thursday.

As of the time of publication, Nasdaq futures rose by 0.91%, S&P 500 index futures rose by 0.40%, and Dow futures narrowed their decline to 0.05%.

U.S. Treasury yields fell, with the 10-year Treasury yield dropping to 4.258%. The 2-year Treasury yield in the U.S. fell to 4.66%, the lowest level since April 5.

The U.S. dollar index fell in the short term, down 0.05% during the day.

[The following market updates are as of 20:20]

Bilibili ADR surged 5.8% in U.S. pre-market trading. Its mobile game "Three Kingdoms: Strategy Conquest" was officially launched on Thursday and is currently ranked second in the free iPhone games list on the Apple China App Store.

[The following market updates are as of 16:30]

Most major tech stocks rose, with Tesla surging over 6% in pre-market trading. According to Musk, Tesla shareholders have overwhelmingly approved its $56 billion compensation plan, and Tesla's headquarters will be relocated to Texas.

Broadcom rose by over 14% as its second-quarter revenue exceeded expectations and it raised its annual guidance, announcing a 10-1 stock split plan.

Nvidia rose by over 2% in pre-market trading, while TSMC rose by over 1%.

Chinese concept stocks had mixed performances, with Nio down by 0.45%, XPeng down by 0.67%, Li Auto up by 0.95%, Alibaba up by 0.17%, and JD.com up by 0.54%.

European Stocks Extend Losses

The German DAX30 index is currently down by 0.56%, the UK's FTSE 100 index is down by 0.28%, the French CAC40 index is down by 0.47%, and the Euro Stoxx 50 index is down by 0.31%. The Euro Stoxx 600 index has extended its decline to 0.5%, hitting a new intraday low.