Category: Flash News

On May 2nd, the Trump administration announced in a statement that it will cut $163 billion in federal spending next year. The White House Office of Management and Budget stated that compared to the levels set in 2025, the proposed budget will increase defense spending by 13%, homeland security spending by nearly 65%, and non defense discretionary spending by 23%, reaching the lowest level since 2017.

On May 2nd, according to the national warning, a magnitude 7.4 earthquake occurred in the waters of the Drake Passage at 20:58 on May 2nd, 2025 (Beijing time). The Tsunami Warning Center of the Ministry of Natural Resources has determined based on preliminary earthquake parameters that the earthquake may cause local tsunamis around the epicenter, but will not have an impact on the coast of China.

On May 2nd, personality, diversity, fashion, and customization have become new keywords for consumers to choose clothing. With the upgrading of aesthetics and technological innovation, the clothing industry has shown unprecedented vitality. The latest data from the National Bureau of Statistics shows that in the first quarter of this year, the actual completed investment in China’s clothing industry increased by nearly 23% year-on-year, exceeding the growth rate of several popular tracks. At this year’s Guangdong Fashion Week Summer Ordering Fair, in addition to new Chinese style clothing, “urban outdoor” that combines fashion and functional outdoor needs has also become a hot selling category for summer clothing. (CCTV Finance)

① 07:30 Japan’s March unemployment rate; ② 15:50 French April Manufacturing PMI Final Value; ③ 15:55 Final value of Germany’s manufacturing PMI for April; ④ 16:00 Eurozone manufacturing PMI final value for April; ⑤ 17:00 Eurozone April CPI annual rate initial value, April CPI monthly rate initial value, March unemployment rate; ⑥ 20:30 US April unemployment rate, seasonally adjusted non farm employment in April, average annual hourly wage rate in April, and average monthly hourly wage rate in April; ⑦ 22:00 Monthly rate of factory orders in March in the United States; ⑧ The total number of oil wells drilled in the United States for the week ending May 2nd at 01:00 the next day.

On May 2nd, Japanese Finance Minister Katsuyuki Kato stated that there have been no discussions with the United States regarding the goals and framework for controlling foreign exchange trends; Discussed with the United States whether constructive discussions are needed on foreign exchange issues; Japan has not manipulated the yen exchange rate and must thoroughly explain this to the United States. He also said that the huge amount of US treasury bond held by Japan could be one of the tools used in trade negotiations.

On May 2nd, Apple CEO Tim Cook stated that the company needs more time to develop new and more personalized Siri features. The iPhone sold in the United States in the third fiscal quarter will be produced in India, while the iPad and MAC sold in the United States in the third fiscal quarter will be produced in Vietnam. And it is stated that the vast majority of Apple products sold outside the United States will still be from China as the country of origin.

On May 2nd, Strategy (formerly known as MicroStrategy), a major Bitcoin holder, reported a revenue of $111.1 million in the first quarter, with analysts expecting $115.8 million; Net loss of 4.23 billion US dollars in the first quarter; Cash and cash equivalents for the first quarter were $60.3 million, with analysts expecting $106.2 million.

On May 2nd, Reddit’s first quarter revenue was $392.4 million, with a market expectation of $370 million; The company expects second quarter revenue to be between $410 million and $430 million, while analysts expect it to be $395.5 million. The company’s stock price surged by over 17% after the market closed.

On May 2nd, popular Chinese concept stocks fluctuated, with the Nasdaq China Golden Dragon Index rising 0.22%. Luckin Coffee rose over 4%, Bawang Tea Lady rose over 3%, Jinshan Cloud and Wanguo Data rose over 2%, Futu Holdings, Beike and others rose over 1%, while Alibaba, JD.com, Ctrip, Ideal Auto and others rose slightly; Qifu Technology fell more than 1%, while Tencent Music, Manbang, Vipshop, and others experienced slight declines.

On the evening of May 1st, the Syrian Observatory for Human Rights announced that the two-day violent conflict in Damascus and southern Syria has resulted in at least 100 deaths. Among the deceased in the suburbs of Damascus, including 30 members of the Syrian security forces and 15 Druze armed personnel, were in the cities of Jeramana and Sanaya. In the southern Syrian province of Suwayda, 27 Druze militants were killed. Israeli Defense Minister Katz issued a warning to the Syrian authorities that night not to harm Druze people in the internal violent conflict in Syria, otherwise Israel will respond strongly. The Israeli Defense Forces also issued a statement on the same day stating that they have deployed in southern Syria to prevent so-called “hostile forces” from entering the area and Druze villages. At the same time, the Israeli military will closely monitor the development of the situation and prepare for defense and response to different situations.