US Stock Market Close: Three Major Indexes Close Collectively Lower, Apple's Total Market Cap Falls Below $3 Trillion

On Wednesday (June 11), US stocks moved downwards after a higher opening, with all three major indices declining. Both the S&P 500 and the Nasdaq ended their three-day winning streaks.

By the closing bell, the Dow Jones Industrial Average dipped slightly by 1.1 points to close at 42,865.77. The S&P 500 fell 0.27% to close at 6,022.24, and the Nasdaq Composite Index dropped 0.5% to close at 19,615.88.

Data released before the US market opened showed that the US Consumer Price Index (CPI) for May rose 2.4% YoY, while the core CPI increased 2.8% YoY, both falling short of market expectations of 2.5% and 2.9%, respectively.

Following the data release, US President Trump posted on his social media platform, calling the CPI figures "very good numbers" and reiterating his earlier statement that "the US Fed should cut interest rates by a full percentage point."

Alexandra Wilson-Elizondo, an executive at Goldman Sachs Asset Management, stated that the lower-than-expected inflation in May suggests that tariffs have not yet had a significant direct impact, as companies have been using existing inventory or adjusting prices slowly due to uncertain demand.

She added that if US inflation remains manageable or the labor market shows weakness, the US Fed may consider an interest rate cut.

However, during the trading session, tensions in the Middle East reversed market risk appetite. Hossein Salami, commander-in-chief of the Islamic Revolutionary Guard Corps (IRGC) of Iran, stated that Iran is prepared with upgraded missiles for any combat. He also reiterated that Iran is ready for any threat scenario.

Earlier in the day, Iranian Defense Minister Mohammad Reza Ashtiani warned that if conflict is forced, US losses would far exceed those of Iran. He pointed out that in any conflict, the US would have to withdraw from the region as all its bases would be within Iran's missile range.

During the session, media reports indicated that the US was preparing to evacuate some staff from its embassy in Iraq and allow US military families to leave the Middle East due to heightened security risks in the region. This news led to a surge of over 4% in the settlement price of international crude oil futures.

Performance of Popular Stocks

Most large-cap tech stocks declined, with Microsoft (ranked by market cap) rising 0.36% to reclaim its position as the world's most valuable company, while Nvidia fell 0.78%. Apple dropped 1.92%, with its total market cap falling below $3 trillion. Amazon fell 2.03%, Google Class C fell 0.68%, Meta fell 1.18%, and Tesla rose 0.1%.

The Philadelphia Semiconductor Index fell 0.19%, with only 7 out of 30 component stocks rising. Broadcom saw the largest gain, rising 3.38%, while Intel fell 6.34%, marking its biggest single-day decline in two months.

US nuclear power company Oklo rose by 29.48%, hitting a new all-time closing high. Space technology company Voyager Technologies surged by 82.19% on its first day of trading in the US IPO.

Among US-listed Chinese companies, the Nasdaq Golden Dragon China Index rose by 0.08%.

Popular US-listed Chinese stocks had mixed changes. Bilibili rose by 8.28%, Tencent Music Entertainment rose by 1.31%, Li Auto rose by 1.12%, Pinduoduo rose by 0.75%, and Baidu rose by 0.07%.

Pony.ai fell by 3.21%, NIO fell by 1.84%, Alibaba fell by 1.27%, New Oriental Education & Technology Group fell by 1.11%, TAL Education Group fell by 1.02%, XPeng Motors fell by 0.24%, and JD.com fell by 0.18%.

Company News

[Meta Launches New Model V-JEPA 2]

Meta has launched a new model, V-JEPA 2, claiming it "achieves state-of-the-art visual understanding and prediction in the physical world, thereby enhancing the physical reasoning capabilities of AI agents." Meanwhile, the company has also released three new benchmarks to evaluate the ability of existing models to infer the physical world from videos.

[Meta Introduces AI Video Editing Feature on AI APP]

Meta Platforms has introduced an AI video editing feature on its AI APP. Recently, the company has been testing a new private messaging feature on its social media platform Threads. Meta Platforms stated that users can now easily adjust elements such as clothing, location, and lighting using preset AI video editing prompts, and then share or publish the edited videos.

[Disney and Universal Sue AI Company for Copyright Infringement]

On June 11 local time, Disney and Universal Studios filed a copyright infringement lawsuit against AI company Midjourney, alleging that Midjourney pirated the copyright libraries of these two Hollywood studios to generate and distribute "countless unauthorized copies" of their famous characters.

[Heineken Plans to Invest $2.7 Billion in Mexico by 2028]

On June 11, Heineken Mexico announced that it will invest $2.7 billion in Mexico by 2028, including the construction of a previously announced plant in Yucatan. The company stated that it will not close any plants in other regions of Mexico and will continue to expand its business.

[Trump Responds to Musk's Apology: "I Think He Did a Great Job"]

On June 11 local time, Trump responded to Musk's apology, saying, "I think he did a great job." In the early morning of the 11th Eastern Time, Elon Musk, CEO of Tesla and SpaceX, stated on his social media platform "X" that he regretted some posts he made about US President Trump last week, saying that "the content went too far."

[Oracle's adjusted EPS for the fourth fiscal quarter was $1.7, exceeding market expectations]

Oracle's adjusted EPS for the fourth fiscal quarter was $1.70, compared to analysts' expectations of $1.64. Adjusted revenue for the fourth fiscal quarter was $15.9 billion, compared to the estimated $15.59 billion. Operating profit for the fourth fiscal quarter was $7.04 billion, compared to analysts' expectations of $6.85 billion. Cloud infrastructure revenue (IaaS) for the fourth fiscal quarter was $3 billion, compared to the estimated $3.07 billion.