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Glonghui, June 17 — U.S. retail sales in May rose more than expected, but as the support from large tax refunds in offsetting rising prices gradually weakens, future growth momentum may slow down. The U.S. Department of Commerce Census Bureau announced on Wednesday that retail sales in May increased by 0.9% month-on-month, surpassing the market expectation of 0.5%. Part of the sales growth in May reflects that rising gasoline prices boosted gas station revenues. Affected by the war in Iran, gasoline prices once rose to the highest level in four years. Since then, oil prices have retreated, and this week the average retail gasoline price in the U.S. fell below $4 per gallon for the first time since April. Tax refund funds together with rising stock markets have supported consumer spending, but part of this consumption growth has come at the expense of reduced savings. The savings rate in April fell to its lowest level in four years. Core retail sales, which exclude automobiles, gasoline, building materials, and food services, grew by 0.7% in May, compared to an increase of 0.5% in April. Core retail sales most closely align with the consumer spending component in GDP. The tax filing season has ended, and most tax refund funds have been used up. Economists at PNC Financial said an analysis of internal data shows that "households are spending tax refund funds faster than in previous years, and increased gasoline spending is the main reason for this difference."

Odaily News: A summary of key pre-market news for US stocks: 1. The three major US stock index futures showed mixed performance. Dow Jones index futures fell by 0.08%, S&P 500 index futures rose by 0.06%, and Nasdaq 100 index futures rose by 0.61%. 2. International oil prices turned from a decline to an increase during the session. WTI crude oil futures rose by 0.91% to $75.957 per barrel; Brent crude oil futures rose by 0.98% to $79.730 per barrel. 3. International spot gold and silver prices edged down. Spot gold prices dropped by 0.05% to $4,328.95 per ounce; spot silver prices fell by 0.14% to $69.90 per ounce. 4. The Federal Reserve will announce its latest interest rate decision, policy statement, and economic forecast at 2:00 AM (GMT+8) on the 18th. At 2:30 AM, the new Fed Chair, Walsh, will hold his first press conference after the rate meeting. 5. Optical interconnect leader Coherent, together with NVIDIA, held a groundbreaking ceremony for the expansion of its indium phosphide plant in Texas, focusing on 6-inch indium phosphide wafers and optical interconnect capacity to support AI data transmission at the speed of light between racks. 6. JPMorgan estimates that by 2030, hyperscale AI data center operators will invest about $5.5 trillion, an increase of $400 billion compared to previous forecasts.

Odaily reported that the DeFi structured protocol Thetanuts Finance issued a statement in response to a vault security incident. According to preliminary investigations, the related vault is an old version contract that was abandoned years ago and fully migrated, and has no connection with any currently operating contracts or products. The team is continuing to investigate further details and will publish a full post-event analysis report once more information is obtained. Previously, it was reported that Thetanuts Finance had allegedly experienced an attack, with preliminary estimates of losses around 2.1 million USD.