Market news: The Biden administration will appeal the social media ban. Earlier, a US judge issued a historic injunction to prevent the Biden administration from contacting social media companies.

[The probability that the Fed will raise interest rates by 25 basis points in July is 89.9%] According to CME "Fed Watch": The probability that the Fed will keep interest rates unchanged at 5.00%-5.25% in July is 10.1%, and raise interest rates by 25 basis points to 5.25%- The probability of the 5.50% interval is 89.9%; the probability of maintaining interest rates until September is 8.1%, the probability of accumulative rate hikes of 25 basis points is 73.9%, and the probability of accumulative rate hikes of 50 basis points is 18.0%.

[Silicon Valley Bank parent company approved to sell its investment banking unit for US$100 million] On July 5 local time, according to Bloomberg News, SVB Financial Group, the parent company of Silicon Valley Bank, successfully obtained court approval to sell its investment banking unit for US$100 million. sold to founder Jeff Leyrink and his management team. SVB Financial Group is understood to have acquired the unit four years ago for $280 million.

The Hong Kong Monetary Authority conducted a discount window operation of HK$3.1 billion on Wednesday (July 5), the highest level in more than a month.

According to The Information: Former Twitter and search engine Giphy executives launch Lighty AI.

American Iron and Steel Institute: U.S. steel capacity utilization was 77.3% in the week ended July 1.

Bank of America: Will increase quarterly dividend by 9% to $0.24 per share.

Bank of America: Discussions with the Fed on stress test results are ongoing.

Rivian is in final talks with Amazon to sell vans to other companies.

In the week to June 30, the import of API refined oil in the United States was 263,000 barrels per day, compared with the previous value of 63,000 barrels per day.

Rivian CEO: Our goal is to exceed delivery goals.

The United States imported 217,000 barrels of API crude oil in the week to June 30, compared with the previous value of 303,000 barrels.

In the United States, API heating oil inventories in the week to June 30 were -2.09 million barrels, compared with -5.13 million barrels before.

In the United States, API refined oil inventories in the week to June 30 were 604,000 barrels, expected to be 500,000 barrels, and the previous value was 777,000 barrels.

In the United States, the API Cushing crude oil inventory in the week to June 30 was 289,000 barrels, compared with the previous value of 1.457 million barrels.

In the United States, API gasoline inventories in the week to June 30 were 1.615 million barrels, expected to be -1.1 million barrels, and the previous value was -2.85 million barrels.

Fed Williams: I think we have more work to do on interest rates.

Fed Williams: It is reasonable to slow down the pace of rate hikes for now.

Fed Williams: Surprised by the stability of the natural rate of interest.