Bitget UEX Daily Report｜Waller is about to "take the helm" of the Federal Reserve; The CLARITY Act has been approved by the Senate Banking Committee; SpaceX's IPO prospectus will be released as early as next week (May 15, 2026)

# 1. Hot News

Federal Reserve Dynamics

Dovish Fed Governor Milan officially submitted his resignation, and the appointment of Waller is confirmed

• Federal Reserve Governor Stephen Milan submitted his resignation on Thursday, stepping down from his position and praising Waller's ability to lead the Federal Reserve in his letter.
• Milan has long held a dovish stance, voting in favor of the three 25 basis point rate cuts at the FOMC meetings in 2025, while opposing the three decisions to maintain rates this year, supporting further rate cuts.
• Market Impact: This personnel change may further solidify market expectations for a dovish shift from the Federal Reserve, helping to alleviate tightening concerns, which is favorable for stock markets and risk asset pricing.

International Commodities

Commodity price volatility intensifies, gold slightly retreats

• Spot gold fell to around $4650 per ounce on Thursday, while oil (WTI/Brent) remained volatile at high levels due to geopolitical factors.
• Silver performed relatively resiliently, but the overall commodity market was influenced by inflation data and supply expectations.
• Market Impact: The trend of commodity prices is linked to expectations of Federal Reserve policy; if the rate cut path is clear, gold's safe-haven attributes may weaken, shifting towards industrial demand-driven factors.

Macroeconomic Policy

US April retail sales exceeded expectations, CLARITY cryptocurrency bill passed by Senate Banking Committee

• April retail sales increased by 0.5% month-on-month and 4.9% year-on-year, marking the strongest growth in nearly eight months. Despite consumer confidence dropping to historic lows, actual consumption proved more resilient than market expectations.
• The "Cryptocurrency Market Structure Bill" (CLARITY Bill) passed the Senate Banking Committee with a vote of 15 in favor and 9 against, moving to a full vote, clarifying the regulatory roles of the SEC and CFTC.
• Market Impact: Retail data alleviates concerns about economic slowdown, while the advancement of the CLARITY Bill provides regulatory certainty for the cryptocurrency market, likely boosting institutional participation enthusiasm and benefiting related assets.

# 2. Market Review

Commodity & Forex Performance

• Spot Gold: -0.45%, around $4627 per ounce;
• Spot Silver: -1.6%, around $82 per ounce;
• WTI Crude Oil: +0.91%, $97.84 per barrel.
• Brent Crude Oil: +0.85%, $106.63 per barrel.
• US Dollar Index: +0.14%, strongly rising to 99.01.

Cryptocurrency Performance

• BTC: +2.39%, $81,562.
• ETH: +1.13%, around $2,293.
• Total Cryptocurrency Market Cap: +2%, approximately $2.79 trillion.
• Market Liquidation Situation: Total liquidation in 24 hours approximately $257 million, with short liquidations at $152 million.
• Bitget BTC/USDT Liquidation Map: BTC's current price is around $81,523, with significant high-leverage short liquidation pressure above $82,200-$83,300. If it continues to rise in the short term, it may trigger a new round of short squeezes. Below $79,500-$80,500, there are many long leverage positions; if it breaks down, the market may see a rapid pullback and a chain reaction of long stop-losses.

• Spot ETF Net Inflow/Outflow: BTC spot ETF had a net outflow of about $7.1 million yesterday; ETH spot ETF had an inflow of $11.2 million.
• BTC Inflow/Outflow: BTC had a net inflow of $25.88 million yesterday; contract net inflow of $1.13 billion.

US Stock Index Performance

• Dow Jones: Up 0.75%, at 50,063.46 points, breaking above 50,000 points for the first time in three months, with steady performance.
• S&P 500: Up 0.77%, at 7,501.24 points, setting a new historical high.
• Nasdaq: Up 0.88%, at 26,635.22 points, continuing to set new highs, driven significantly by the technology sector.

Tech Giants Dynamics

• NVIDIA (NVDA): +4.39%, at $235.74, market cap nearing $5.71 trillion, driven mainly by concentrated AI demand.
• Microsoft (MSFT): +1%, at $409.43, showing stable performance.
• Meta Platforms (META): +0.29%, at $618.43, supported by social and advertising business.
• Amazon (AMZN): -1.08%, at $267.22, facing short-term profit-taking pressure.
• Tesla (TSLA): -0.44%, at $443.3, with fluctuations in electric vehicle and autonomous driving expectations.
• Google A (GOOGL): -0.38%, at $401, with stable search and cloud business.
• Apple (AAPL): -0.22%, at $298.21, showing slight adjustments. Core Reason Summary: NVIDIA leads the tech sector, with the Mag7 showing overall differentiation; the AI theme remains the core driver.

Sector Movement Observation

Optical Communication Sector rises over 40%

• Representative Stock: POET Technologies (POET.US) +40%, reached a strategic partnership with Lumilens, securing a $50 million initial order, with potential purchases exceeding $500 million over five years.
• Driving Factors: Surge in demand for high-speed optical engines in AI data centers, with the company's wafer-level photonic integration technology gaining recognition.

AI Chip New Stocks surge

• Representative Stock: Cerebras Systems (CBRS.US) +68%, closing at $311.07 on its IPO debut, with a market cap of about $95 billion.
• Driving Factors: As a "challenger to NVIDIA," there is strong market demand for diversified AI computing power.

# 3. In-Depth Analysis of US Stocks

1. NVIDIA (NVDA) - AI Computing Leader's Market Cap Continues to Approach New Highs

Event Overview: NVIDIA's stock price rose 4.39% to $235.74 on Thursday, accumulating a 20% increase over seven trading days, with a market cap increasing by over $900 billion to $5.71 trillion, nearing the $6 trillion mark. CEO Jensen Huang's unexpected participation in Trump's delegation to China further highlights the global layout of the AI supply chain. Market Interpretation: Institutions generally believe that the concentration effect of AI winners continues, with semiconductors as the core infrastructure of AI, demand far exceeding supply, making NVIDIA's position difficult to shake in the short term. Investment Insight: The long-term trend of the AI theme remains unchanged, but valuations are at high levels; it is recommended to pay attention to layout opportunities after corrections.

2. POET Technologies (POET.US) - Optical Communication AI Orders Boost Stock Price

Event Overview: POET surged over 40% on Thursday, announcing a strategic partnership with optical interconnect startup Lumilens to develop a new electro-optical intermediary layer platform, with an initial order of $50 million already placed, and cumulative purchases expected to exceed $500 million over the next five years. Market Interpretation: Institutions are optimistic about AI data centers' demand for low-power, high-density optical connections, and this technology platform is expected to achieve wafer-level scalable manufacturing, reducing costs. Investment Insight: The optical communication sector benefits from AI capital expenditures, with strong short-term catalysts, but attention should be paid to the pace of order fulfillment.

3. Cerebras Systems (CBRS.US) - "NVIDIA Challenger" IPO Debut Soars

Event Overview: Cerebras officially listed on Nasdaq on Thursday, opening with an 89% surge, peaking at nearly 109% during the day, closing up 68% at $311.07, with a market cap of about $95 billion. Market Interpretation: As a new force in the AI chip field, its wafer-scale technology has gained market recognition, and investor expectations for diversified computing power suppliers have driven valuation expansion. Investment Insight: Competition in AI hardware intensifies, and the performance of new stocks reflects market enthusiasm, but volatility may increase after listing.

4. SpaceX - IPO Process Accelerates

Event Overview: Sources reveal that SpaceX plans to publicly release its prospectus as early as next week, starting its roadshow on June 8, with this IPO valued at $1.25 trillion (including the entity after merging with xAI). Market Interpretation: Institutions view SpaceX as a leader in the aerospace and Starlink fields, with post-merger valuation reflecting the potential for the integration of AI and the space economy. Investment Insight: The aerospace technology sector will benefit in the long term, and the increase in liquidity post-IPO is worth noting.

# 4. Cryptocurrency Project Dynamics

1. Sharplink CEO Joseph Chalom stated that the Ethereum treasury company is shifting from the Strategy and Michael Saylor model to a different path, focusing on staking income and a simpler balance sheet rather than complex financing structures.

2. The Bitwise Hyperliquid ETF will begin trading on the New York Stock Exchange on Friday, under the ticker BHYP. This fund will become the first in the US to offer Hyperliquid staking rewards, realized through the company's internal staking department, Bitwise Onchain Solutions.

3. JPMorgan analysts stated that although the overall cryptocurrency market has recovered after the Iran conflict, Ethereum and altcoins continue to underperform Bitcoin. Analysts believe that unless there is a substantial improvement in network activity, DeFi, and real-world applications, this trend that began in 2023 is unlikely to change.

4. The US Senate Banking Committee passed the CLARITY Bill with a bipartisan vote of 15 to 9, moving it to the next procedural step.

5. According to on-chain analyst Yu Jin's monitoring, Multicoin Capital appears to have stopped loss on AAVE. Multicoin Capital accumulated 338,000 AAVE at a price of $219 last November.

6. The US has approved about 10 Chinese companies to purchase NVIDIA H200 AI chips, including Alibaba, Tencent, ByteDance, and JD, with distributors like Lenovo and Foxconn also authorized. According to the licensing terms, each approved customer can purchase up to 75,000 H200 chips, but no actual deliveries have been made yet.

# 5. Today's Market Calendar

Data Release Schedule

|-------|----|------------------------------------------|------| | 08:30 | US | NY Empire State Manufacturing Index (May) | ⭐⭐⭐ | | 09:15 | US | Industrial Production MoM (April) / Capacity Utilization | ⭐⭐⭐⭐ |

Important Event Forecast

• Event: The Senate may discuss the subsequent merged version of the CLARITY Bill - pay attention to the final details of the regulatory framework.
• Event: SpaceX prospectus disclosure window - focus on valuation and roadshow progress.

Institutional Views:

Well-known investment bank analysts generally believe that the resignation of Fed Governor Milan and the confirmation of Waller's appointment further solidify expectations for easing, while the high vote passage of the CLARITY Bill in the Senate Banking Committee injects certainty into the cryptocurrency market, likely boosting institutional allocation willingness. The three major US stock indices have set new highs, and retail sales data demonstrates economic resilience, alleviating recession concerns, but the low consumer confidence and inflation data still require vigilance. In the cryptocurrency space, despite a significant outflow from BTC ETFs in a single day, regulatory progress is seen as a long-term positive, and a rebound may follow short-term volatility. Overall, the dual themes of AI and cryptocurrency remain the market focus, and attention should be paid to the pace of policy implementation and the impact of macro data on risk appetite.

Disclaimer: The above content is organized by AI search, with human verification for publication, and does not constitute any investment advice. The data in the text may inevitably have deviations; please refer to real-time market data.