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Spot gold has surpassed $4,740 per ounce, rising 1.10% for the day. (Jin Shi)

[Spot Gold Breaks $4,740/Ounce, Up 1.10% for the Day]Spot gold has surpassed $4,740 per ounce, rising 1.10% for the day. (Jin Shi)

Spot Gold Breaks $4,740/Ounce, Up 1.10% for the Day

On May 8, Nick Timiraos, known as the 'voice of the Fed,' stated that a significant issue the Federal Reserve faced four months ago was whether to continue lowering interest rates to support a seemingly faltering labor market. This issue is no longer relevant. The labor market has stabilized, while inflation is shifting from a previous decline to an upward trend due to tariffs and the war in Iran. The April non-farm report highlights this change in outlook and suggests that the market's focus will clearly shift to inflation data when assessing the next policy direction of the Fed, which has firmly held its position. April hiring remained robust, the unemployment rate held steady, and income growth remained strong, all of which do not justify a rate cut. As the labor market provides the Fed with the space to continue waiting, the next discussion on policy will be when and how to shift to a 'neutral' stance—where the possibilities of rate hikes and cuts become roughly equal—and the answer may depend almost entirely on future inflation data.

[Fed's Voice: Non-Farm Data Indicates Shift from Employment to Inflation Focus]On May 8, Nick Timiraos, known as the 'voice of the Fed,' stated that a significant issue the Federal Reserve faced four months ago was whether to continue lowering interest rates to support a seemingly faltering labor market. This issue is no longer relevant. The labor market has stabilized, while inflation is shifting from a previous decline to an upward trend due to tariffs and the war in Iran. The April non-farm report highlights this change in outlook and suggests that the market's focus will clearly shift to inflation data when assessing the next policy direction of the Fed, which has firmly held its position. April hiring remained robust, the unemployment rate held steady, and income growth remained strong, all of which do not justify a rate cut. As the labor market provides the Fed with the space to continue waiting, the next discussion on policy will be when and how to shift to a 'neutral' stance—where the possibilities of rate hikes and cuts become roughly equal—and the answer may depend almost entirely on future inflation data.

Fed's Voice: Non-Farm Data Indicates Shift from Employment to Inflation Focus

On May 8, according to Fox News, the US military conducted additional airstrikes today, targeting several empty tankers attempting to breach a blockade. According to a senior US official, these were Very Large Crude Carriers (VLCCs), and the massive empty vessels were attempting to return to Iran in an effort to break through the blockade.

[US Military Strikes Tankers Attempting to Breach Blockade]On May 8, according to Fox News, the US military conducted additional airstrikes today, targeting several empty tankers attempting to breach a blockade. According to a senior US official, these were Very Large Crude Carriers (VLCCs), and the massive empty vessels were attempting to return to Iran in an effort to break through the blockade.

US Military Strikes Tankers Attempting to Breach Blockade

On May 8, U.S. stock indices opened higher across the board, with the Dow Jones rising by 0.46%, the Nasdaq by 0.57%, and the S&P 500 by 0.44%. Baidu surged over 5%, as its AI chip subsidiary Kunlun is advancing its listing process in both Shanghai and Hong Kong; Qualcomm increased by over 5%, and Micron Technology rose by over 4%. CoreWeave fell by more than 6% after the company raised the lower limit of its annual capital expenditure forecast.

[U.S. Stock Indices Open Higher]On May 8, U.S. stock indices opened higher across the board, with the Dow Jones rising by 0.46%, the Nasdaq by 0.57%, and the S&P 500 by 0.44%. Baidu surged over 5%, as its AI chip subsidiary Kunlun is advancing its listing process in both Shanghai and Hong Kong; Qualcomm increased by over 5%, and Micron Technology rose by over 4%. CoreWeave fell by more than 6% after the company raised the lower limit of its annual capital expenditure forecast.

U.S. Stock Indices Open Higher

On May 8, Iranian Tasnim News Agency reported that Iran stated it is still reviewing the proposal put forward by the United States to end the war. (Jinshi)

[Iranian News Agency: Iran Claims It Is Still Reviewing US Proposal to End War]On May 8, Iranian Tasnim News Agency reported that Iran stated it is still reviewing the proposal put forward by the United States to end the war. (Jinshi)

Iranian News Agency: Iran Claims It Is Still Reviewing US Proposal to End War

On May 8, according to the Iranian Tasnim News Agency, Iran stated that it is still reviewing the proposal put forward by the United States to end the war.

[Iran Claims It Is Still Reviewing U.S. Proposal to End War]On May 8, according to the Iranian Tasnim News Agency, Iran stated that it is still reviewing the proposal put forward by the United States to end the war.

Iran Claims It Is Still Reviewing U.S. Proposal to End War

On May 8, the Solana Foundation officially announced that registration for Breakpoint 2026 is now open. The conference will take place from November 15 to 17 in London. As one of the world's leading financial and technology centers, this marks the first time the Breakpoint event will be held in the city. Limited early bird tickets are currently available.

[Registration for Solana's Annual Breakpoint 2026 Conference Now Open]On May 8, the Solana Foundation officially announced that registration for Breakpoint 2026 is now open. The conference will take place from November 15 to 17 in London. As one of the world's leading financial and technology centers, this marks the first time the Breakpoint event will be held in the city. Limited early bird tickets are currently available.

Registration for Solana's Annual Breakpoint 2026 Conference Now Open

On May 8, Hassett, the Director of the National Economic Council at the White House, stated: 'I believe we will see rate cuts this year, as indicated by Fed Chair nominee Waller.'

[Hassett: Rate Cuts Expected This Year, Says Fed Chair Nominee Waller]On May 8, Hassett, the Director of the National Economic Council at the White House, stated: 'I believe we will see rate cuts this year, as indicated by Fed Chair nominee Waller.'

Hassett: Rate Cuts Expected This Year, Says Fed Chair Nominee Waller

GTAI fluctuated by 53.48% within 24 hours, current price $0.0355

【GTAI fluctuated over 50% in 24 hours!】GTAI fluctuated by 53.48% within 24 hours, current price $0.0355

GTAI fluctuated over 50% in 24 hours!

1. The daily trading volume of LUNC exceeded $1.56B. LUNC is now at 0.000283 USDT, with a 70.32% in 24H.
2. U.S. California crypto oversight bill approved by the Assembly, crypto business may be required to get licensed.
3. uxury brand Hermès files trademark application for crypto, NFT and metaverse.

#POLICY
1. U.S. California crypto oversight bill approved by the Assembly, crypto business may be required to get licensed.
2. Thailand starts to impose stricter rules on crypto ads.
3. South Korean ruling party officials plan to formulate Metaverse Industry Promotion Law.

#CRYPTOCURRENCY 
1. According to luncvalidator, Terra Luna Classic is said to be switching its eco system to version 1.2 around the 12th September, which will introduce something called the LUNC 1.2% burn tax.
2. Hardware wallet Trezor enables direct crypto purchases with MoonPay.
3. More volatility ahead for bitcoin as Federal Reserve keeps quiet.
4. LG Electronics to launch Hedera-based crypto wallet.
5. Fake Google Translate app installs crypto miner malware on 112,000 PCs.
6. Crypto lender Celsius faces another group of customers who want their money back.
7. Bitcoin futures contract volume falls below $1T in August, hits 21-month low.
8. Ethereum client Teku released v22.9.0 version.
9. Shiba Inu (SHIB) clothing line to be featured on Milan Fashion Week.
10. The transaction volume on the Ethereum chain in August was less than $500 million, the lowest record in the past 12 months.

#NFT 
1. Luxury brand Hermès files trademark application for crypto, NFT and metaverse.
2. a16z crypto's 'Can't Be Evil' licenses aim to fix NFT copyright confusion.
3. OpenSea: Only support NFTs on the upgraded Ethereum PoS chain.
4. Unstoppable Domains users can now send private emails with skiff.
5. ConsenSys to launchthe first green NFT series on Ethereum mainnet.
6. The NFT transaction volume on the Polyon chain exceedes $100 million in August.
7. Hackers try to sell NFT of Belarusian leader's supposed stolen passport.
8. The NFT market transaction volume in August was $750 million.
9. NFT sales on the Avalanche chain in August were less than $900,000.

#DEFI 
1. Yearn Finance cuts management fees on key vaults like ETH and more.

#FUNDING 
1. Solid raises $63M Series B led by FTV Capital.

#METAVERSE
1. Meta planning more paid features for Facebook and Instagram.
2. Qualcomm CEO: Metaverse is the future of the Internet.
3. Crypto bank Sygnum to open metaverse hub in Decentraland.

Detail

【Huobi Daily】1. The daily trading volume of LUNC exceeded $1.56B. LUNC is now at 0.000283 USDT, with a 70.32% in 24H.
2. U.S. California crypto oversight bill approved by the Assembly, crypto business may be required to get licensed.
3. uxury brand Hermès files trademark application for crypto, NFT and metaverse.

#POLICY
1. U.S. California crypto oversight bill approved by the Assembly, crypto business may be required to get licensed.
2. Thailand starts to impose stricter rules on crypto ads.
3. South Korean ruling party officials plan to formulate Metaverse Industry Promotion Law.

#CRYPTOCURRENCY 
1. According to luncvalidator, Terra Luna Classic is said to be switching its eco system to version 1.2 around the 12th September, which will introduce something called the LUNC 1.2% burn tax.
2. Hardware wallet Trezor enables direct crypto purchases with MoonPay.
3. More volatility ahead for bitcoin as Federal Reserve keeps quiet.
4. LG Electronics to launch Hedera-based crypto wallet.
5. Fake Google Translate app installs crypto miner malware on 112,000 PCs.
6. Crypto lender Celsius faces another group of customers who want their money back.
7. Bitcoin futures contract volume falls below $1T in August, hits 21-month low.
8. Ethereum client Teku released v22.9.0 version.
9. Shiba Inu (SHIB) clothing line to be featured on Milan Fashion Week.
10. The transaction volume on the Ethereum chain in August was less than $500 million, the lowest record in the past 12 months.

#NFT 
1. Luxury brand Hermès files trademark application for crypto, NFT and metaverse.
2. a16z crypto's 'Can't Be Evil' licenses aim to fix NFT copyright confusion.
3. OpenSea: Only support NFTs on the upgraded Ethereum PoS chain.
4. Unstoppable Domains users can now send private emails with skiff.
5. ConsenSys to launchthe first green NFT series on Ethereum mainnet.
6. The NFT transaction volume on the Polyon chain exceedes $100 million in August.
7. Hackers try to sell NFT of Belarusian leader's supposed stolen passport.
8. The NFT market transaction volume in August was $750 million.
9. NFT sales on the Avalanche chain in August were less than $900,000.

#DEFI 
1. Yearn Finance cuts management fees on key vaults like ETH and more.

#FUNDING 
1. Solid raises $63M Series B led by FTV Capital.

#METAVERSE
1. Meta planning more paid features for Facebook and Instagram.
2. Qualcomm CEO: Metaverse is the future of the Internet.
3. Crypto bank Sygnum to open metaverse hub in Decentraland.

Huobi Daily

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ETH falls below 2300 USDT

Huobi Daily

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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