On Monday Eastern Time, the three major US stock indexes closed with mixed gains and losses. As of the close, the Dow Jones Industrial Average fell 0.21%, the Nasdaq rose 0.29%, and the S&P 500 index fell 0.02%.
Large tech stocks have fluctuated, with Tesla up over 2%, Apple up nearly 2%, and Meta down over 1%. WSB's popular concept stocks surged, AMC theaters rose nearly 80%, and gaming stations rose over 74%. The news that the "number one bull market", which had previously driven retail investors to battle Wall Street behind the scenes, has returned after three years, attracting investor attention. The metal processing, semiconductor equipment and materials, precious metals and mining sectors fell, with gold mining falling more than 5%, Asma and Supercollin semiconductors falling more than 1%, and Ingrid falling more than 2%. Department stores and biotechnology sectors rose, with Novartis Pharmaceuticals up over 47%, Cole's up over 8%, Moderna up over 7%, Dillard up over 5%, and Novo Nordisk up over 3%.
Popular Chinese concept stocks rose generally, with Bilibili up over 12%, Tencent Music up over 11%, NIO up over 6%, Vipshop, Alibaba, Futu Holdings, and JD.com up over 5%, Xiaopeng Automobile and iQiyi up over 4%, Pinduoduo up over 3%, Baidu up over 2%, Weibo and Ideal Automobile up over 1%, and NetEase up slightly.
Global News
Can Wall Street crack the May curse? It all depends on this week? Powell is about to debut with CPI data
On Wall Street, there has always been the slang of "sell in May, and then leave", which is believed by many insiders. Historically, the period of the worst performance of American stocks every year is from May to October, and this period is also the six months when the yield of American bonds is relatively strong throughout the year. The relatively high yield of treasury bond bonds often suppresses the valuation of American stocks, thus intensifying the "May selling effect".
US stock earnings season brings positive news: nearly 80% of earnings exceed expectations. Wall Street's confidence in future performance has increased significantly
As the Q1 earnings season of the US stock market approaches its end, Wall Street analysts are raising their profit expectations for the second quarter at the fastest pace in two years. This means that the market's confidence in the profit prospects of American companies is increasing, which is clearly a positive signal for the US stock market. Data shows that as of now, 459 S&P 500 index constituent companies have released their financial reports for this quarter. According to the currently released financial reports, the profit growth rate of S&P 500 index companies is expected to reach 7.1% in the first quarter, far exceeding the analyst's pre quarter forecast of 3.8%.
Wall Street is breaking out! Hedge funds bet on Moody's issuing a warning
With huge debt at its peak, US small cap stocks have become the most dangerous stocks in the market? According to data compiled by Bloomberg, companies in the Russell 2000 index of small cap stocks hold a total of $832 billion in debt, of which 75% ($624 billion) need to be refinanced before 2029. Although small cap stocks are currently as cheap as in the past few decades, Wall Street is still not optimistic about this sector. According to Ned Davis Research, hedge funds have the largest net short position on record in Russell 2000 futures.
Is inflation making a comeback? Survey: Large tech stocks become the preferred hedge, comparable to gold
According to the latest Markets Live Pulse (MLIV) survey, large technology stocks such as Nvidia, as beneficiaries of the artificial intelligence (AI) boom and currently the hottest area, are not only a bet on innovation for investors, but may also be tools to hedge against inflation. According to a survey, 46% of respondents stated that gold, which has been a safe haven for decades, is still considered the best safeguard against the risk of rising prices. But nearly one-third of people say that technology giants are their first choice.
Policy releases multiple benefits, Chinese concept stock IPOs heat up, global capital refocuses on Chinese assets
Recently, the new energy vehicle brand Geely Krypton officially landed on the New York Stock Exchange, with an ADS price of $21 per share and a target valuation of $5.13 billion. As of the close of the day, the total market value of Jike was 6.898 billion US dollars (approximately RMB 49.85 billion). Securities Times reporters have noticed that as we enter 2024, the number of Chinese companies going public in the United States has increased compared to before. Especially with the increasing threshold and slowing pace of A-share IPOs, many companies and capital have refocused their attention on overseas IPO markets such as the US and Hong Kong stocks.
Company News
Samsung and SK Hynix Will Stop Supply of DDR3, Boosting Prices by 20%
According to a report by Taiwan Economic Daily today, it is rumored in the industry that global top DRAM suppliers Samsung and SK Hynix are fully pushing for high bandwidth memory (HBM) and mainstream DDR5 specification memory, and will stop supplying DDR3 niche DRAM from the second half of the year. Samsung has informed customers that it will discontinue production of DDR3 by the end of the second quarter; SK Hynix, on the other hand, transferred the DDR3 process from its mainland Wuxi factory to DDR4 at the end of last year, which is equivalent to no longer supplying DDR3; Another leading manufacturer, Micron, has significantly reduced the supply of DDR3 to expand its DDR5 and high bandwidth memory capacity.
Xiaomi and JD.com Deepen Strategic Cooperation with a Three Year Goal of 200 Billion RMB
The official WeChat account of Xiaomi announced this morning that it has recently reached a new strategic cooperation with JD.com. Xiaomi Group's partner, President, and International Business Department President Lu Weibing, and JD.com Group CEO Xu Ran attended the ceremony and witnessed the strategic signing. Both sides have set a target of 200 billion yuan in omni channel sales for Xiaomi on JD.com in the next three years. At the same time, they will jointly promote the popularization of multi category Xiaomi intelligent hardware products, allowing more users to enjoy Xiaomi's full scenario intelligent experience, and accelerating the comprehensive development of the "people, cars, and homes" strategy.
TSMC Japan's Third Factory Relocates in Kumamoto Prefecture? The new county mayor calls for full support
Takashi Kimura, the new mayor of Kumamoto Prefecture, stated over the weekend that he is ready to "do his best to support" to attract TSMC to establish Japan's third wafer factory in the area. Previously, it was reported that TSMC was considering setting up a third wafer factory in Japan, also located in Kumamoto, and planned to produce more advanced chips. However, TSMC has not yet engaged in practical negotiations with local departments in Kumamoto.
"Catfish" is coming! Tesla Shanghai Energy Storage Super Factory Obtained Construction Permit
Not just cars. Tesla, which produces and sells new energy vehicles, has recently transformed into a "catfish" and entered the new energy storage industry. According to the official WeChat account of the Lingang New Area Management Committee of the China (Shanghai) Pilot Free Trade Zone (hereinafter referred to as the "Shanghai Lingang Management Committee Official WeChat") on May 13th, the construction permit for Tesla's Shanghai Energy Storage Super Factory project has been issued.
Advanced intelligent driving causes another car accident. Ideal L9 mistakenly sees a billboard as a real car, resulting in rear end collision
After the M7 Shanxi accident, another accident caused by advanced intelligent driving has attracted attention. Recently, a car owner of the Ideal L9 in Xiangyang, Hubei Province, announced on social media that he had activated the assisted driving system while driving the Ideal L9 Pro version on a highway. While driving, the vehicle detected a picture of a small truck on a billboard and suddenly brake sharply, causing a rear end collision. After the accident, the vehicle owner was determined by the traffic police to be fully responsible for the accident.