U.S. Stocks Open Higher as Expected, AI Stocks Rally, Intel Up 8%, SPCX Extends Losses
On June 18, the U.S. stock market opened higher, driven by positive news including the remote signing of a memorandum of understanding between the U.S. and Iran. The Dow Jones Industrial Average rose 0.77%, the S&P 500 gained 1.1%, and the Nasdaq Composite advanced 1.56% at the open.
Per Bitget market data, semiconductor stocks surged early: Intel jumped 8% following remarks from Trump about potential sector-specific stimulus. Marvell Technology added 4.7%, and Micron Technology climbed 6%.
Optical communication stocks also posted solid gains, with AAOI up 3.43%, GLW advancing 5.18%, and COHR notching a 4.27% increase.
Storage sector stocks led the upside, opening sharply higher: WDC surged 10.55%, STX climbed 7.22%, and SNDK added 6.28%.
In contrast, SpaceX shares extended their recent downward trajectory, falling 2% in early trading.
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Intellectual Chief Scientist Responds to Musk's "China Big Model Q1 Catching Up to Fable" Remark: It Won't Take That Long
June 18, Intellisense Chief Scientist Dr. Tang Jie responded to Tesla CEO Elon Musk’s remarks on X that a Chinese large language model could catch up to Anthropic’s Fable in the first quarter, stating it would not take that long for the Chinese model to surpass Fable.
Earlier today, a social media user asked when a Chinese large model would reach Fable’s performance level, noting that Intellisense’s GLM-5.2 had narrowed the gap significantly. Musk replied that this could happen “possibly in Q1 2027.”
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The DeFi lending protocol Ionic Protocol has announced that it is ceasing operations, and users are required to withdraw their funds as soon as possible.
June 18: DeFi (Decentralized Finance) lending protocol Ionic Protocol announced on the X platform that a security vulnerability dating back to 2025 has caused the project’s impact to escalate steadily. As a result, the team has been forced to immediately cease all operations, and all users are being advised to withdraw their assets from all of its deployments as quickly as possible.
Ionic Protocol further noted that this decision to shut down the project is “inevitable,” and all related services are now entering the formal termination process.
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Re: The token has officially launched and the airdrop is now open for claiming
June 18: Decentralized reinsurance protocol Re officially launched its RE token and opened airdrop claims. 95% of Season 1 participants holding fewer than 1.5 billion points can claim their full RE allocation via the designated claim website. For users with over 1.5 billion points, an initial batch of 1.5 billion RE will be issued as a reward on June 18, plus an extra 10% of their remaining points. The remaining points will be split into six equal installments and distributed over three years, with payouts made every six months. Re stated that KYC rules only apply to the top 5% of holders by token balance, adding that the majority of holders have already completed verification and adhere to applicable legal jurisdictions.
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The Federal Reserve Teams Up with Multiple Agencies on Proposal to Solicit Feedback on Identity Verification Requirements for Stablecoin Issuers
June 18 – A joint proposal from the Federal Reserve Board and four other U.S. financial regulators would require specific stablecoin issuers to maintain effective Customer Identification Programs (CIP), aligning with the same standards applied to traditional banks and credit unions, per an official notice on the Federal Reserve’s website.
Public comments on the rule will be open for 60 days starting from the date the proposal is formally published in the Federal Register.
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Avalanche Launches Payment Ecosystem Alliance, with 28 Organizations Already Onboard
On June 18, Avalanche announced the launch of the Avalanche Payments Collective—an alliance that has already attracted 28 organizations to jointly build payment infrastructure on the Avalanche network. The collective’s goals cover integrating multiple key areas including settlement, stablecoins, fund infrastructure, foreign exchange, asset management, compliance, and global payments. Founding members of the alliance include well-known institutions such as Franklin Templeton, VanEck, WisdomTree, Paxos, Kraken, Anchorage Digital, Ethena, and the Wyoming Stablecoin Committee.
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