Before the US stock market on Tuesday (May 28th), the futures of the three major indexes fluctuated. As of press release, Dow Jones index futures fell 0.12%, S&P 500 index futures rose 0.11%, and Nasdaq 100 index futures rose 0.20%.
The heavyweight stock NVIDIA, the leading AI company, rose nearly 3% before trading, with its stock price approaching the $1100 mark and expected to continue reaching a new historical high. The company's various financial report data released last week completely exceeded market expectations, and also announced a "1 to 10" stock split plan. Analysis suggests that this move is in preparation for being included in the Dow Jones Industrial Average.
Boosted by Nvidia, the S&P 500 index rose for five consecutive weeks, and the Nasdaq Composite Index hit a historic high again last Friday. The Dow Jones index, excluding Nvidia, fell 2.33%. But from the beginning of the month until now, the Dow Jones Industrial Average has still accumulated a 3.22% increase, while the S&P and Nasdaq have accumulated 5.34% and 8.07% respectively.
The first quarter report of the US stock market, including Nvidia, was overall better than expected, boosting market sentiment. Media analysis also pointed out that the US inflation data released earlier this month has softened, reigniting hopes among investors for an earlier rate cut by the Federal Reserve. This Friday, the United States will release the Federal Reserve's favorite inflation indicator - the April Core PCE Price Index.
Earlier in the day, Minneapolis Fed Chairman Kashkali pointed out that policymakers should spend time monitoring whether inflation has slowed down enough to ensure interest rate cuts. He acknowledges that the US economy is "very resilient" and the labor market continues to be strong, but it is best for the Federal Reserve to wait and see.
It is worth mentioning that the US stock market will shorten the trading settlement cycle from T+2 to T+1 starting today. Simply put, according to the new rules, investors can sell stocks on Tuesday and withdraw on Wednesday, which is of great significance for improving liquidity and trading efficiency.
Company news
[News reports that the target shipment volume for the 2024 Apple iPad Pro will exceed 9 million units]
Apple's first 2024 iPad Pro tablet with OLED screens is set to ship over 9 million units. Korean industry insiders revealed that Apple LG Display and Samsung Display are adhering to their original shipping targets for finished iPad Pro devices and panels, It is reported that the OLED panel shipment target for LG displays is 5 million pieces, while Samsung displays have a target of over 4 million pieces.
Micron will establish a new chip factory in Hiroshima and put it into operation by the end of 2027 at the earliest
Micron Technology plans to build a new DRAM chip factory in Hiroshima Prefecture, Japan, with the goal of putting it into operation by the end of 2027 at the earliest. The total investment is estimated to be between 600 and 800 billion yen.
UBS and Credit Suisse will officially complete the merger this week. UBS Asia Pacific President: The Asia Pacific region has basically completed job adjustments
UBS Asia Pacific CEO Xu Jianzhou stated in an interview that UBS and Credit Suisse will officially merge this week, and "most of the job optimization work in the bank's Asia Pacific region has been completed.". Due to the elimination of duplicate positions, the employee turnover rate (including voluntary and involuntary layoffs) is quite high. He also stated that UBS is expanding its business in India, but it is still in its early stages.
[Sea is under investigation by Indonesian antitrust authorities for suspected discriminatory behavior in favor of its express delivery services]
The Indonesian antitrust regulatory agency stated at a hearing on Tuesday that online shoppers in Indonesia can choose which company will deliver the purchased goods, and Sea's e-commerce platform Shopee has set up an algorithm to prioritize its express delivery services over other options, including local competitors. Shopee's legal team attended the hearing and will respond at the subsequent hearing on June 11th.
Waystar, a US healthcare financial services company, will launch an IPO in the US as early as Tuesday
According to insiders, Waystar Holding, a US healthcare financial services company, is advancing its plan for an initial public offering (IPO) in the US, which is expected to start as early as Tuesday. According to insiders, the company may raise approximately $950 million through this IPO and will only issue new shares. In addition, there are reports that, Waystar may go public as early as June, with a valuation of up to $6 billion.
Airbus Helicopter China Headquarters Settles in Hengqin
Ke Lin, Managing Director of Airbus Helicopter China, stated that the Guangdong Hong Kong Macao Greater Bay Area is one of the largest economic zones in the world and has great potential in general aviation, especially in the helicopter industry. He is pleased to relocate the headquarters of Airbus Helicopter China to Hengqin, and it is expected that the new site will be opened in September this year.
Events worth paying attention to during the US stock market period (Beijing time)
May 28th
21:00 US March FHFA House Price Index Monthly Rate/S& P/CS Annual rate of housing price index in 20 major cities
21:55 Minneapolis Fed Chairman Kashkali delivers a speech
22:00 US May Consumer Confidence Index
22:30 Dallas Federal Reserve Business Activity Index for May