Asked whether he was worried about today’s inflation print, US President Trump said, "No, I like it. I love inflation." Data showed US May CPI rose 4.2% YoY, a three-year high; core CPI YoY at its highest since September last year.

Al Arabiya cited Pakistani sources saying a US-Israel agreement is currently far from being reached.

Liu Xiaochun, director of the Internet Rule of Law Research Center at the University of Chinese Academy of Social Sciences, warned that platforms' competing '100-billion-yuan' subsidy campaigns could trigger 'involution'-style cutthroat competition. He said large, irrational subsidies distort price signals and that some platforms require merchants to absorb subsidies in full, leaving merchants caught between no traffic if they don't cut prices and losses if they do. Severe margin compression threatens merchant viability, hinders industry innovation and upgrading. He also flagged that several platforms' rules unilaterally exempt platform liability except in force majeure, increasing consumer risk.