Morgan Stanley raises Micron Technology's target price to $1200 and maintains its overweight rating

According to Reuters, Chinese state-owned refining companies are considering resuming purchases of Iranian crude oil, while PetroChina and Sinopec are evaluating the banking, insurance, and shipping conditions required for the transaction. The United States issued an exemption on Monday, allowing global customers to purchase Iranian oil and petrochemical products and settle in US dollars. At present, crude oil exports from Saudi Arabia, Kuwait, and Iraq are increasing, and bank financing, clearing services, and Iran's shipping capacity are still unclear.

Almost 11 million bitcoin are now held at a loss, while long-term holders control a record 14.8 million coins.

The global market is focused on the PCE data of the United States in May, and the market is concerned about inflation stickiness and high interest rate environment. The short-term trend of the cryptocurrency market is affected by inflation data.

According to The Block, CoinShares surveyed 261 European wealth management practitioners and found that 52% of UK advisors reported that over half of their clients' digital assets were not under their management, compared to approximately a quarter in Europe as a whole. The report points out that 61% of the surveyed consultants' institutions have restrictions or no clear information on digital assets, resulting in a proactive recommendation rate of only 1% in restricted institutions and a management gap of 34%, while it is only 4% in supporting institutions. Respondents believe that regulatory inclusion of encrypted assets in mainstream asset classes and provision of encrypted ETPs are key structural conditions for narrowing the gap.

Micron Technology surged after blockbuster earnings and strong guidance, lifting AI memory stocks.