On Tuesday Eastern Time, the three major US stock indexes closed with mixed gains and losses, with the Nasdaq falling 1.28%, the S&P 500 index falling 0.5%, and the Dow Jones Industrial Average rising 0.5%. Most large technology stocks fell, with Nvidia falling more than 7%, hitting a new low since the end of May; Tesla fell more than 4%, while Netflix, Microsoft, Amazon, and Meta experienced slight declines; Apple and Google have seen slight increases.
Popular Chinese concept stocks generally fell, with Xiaopeng Motors falling more than 3%, Ideal Motors falling more than 2%, Baidu, Futu Holdings, and Bilibili falling more than 1%, and JD.com, Vipshop, Alibaba, Tencent Music, and Weibo experiencing slight declines. NetEase and NIO saw slight increases.
Global News
The signal for interest rate cuts is coming! New Federal Reserve News Agency: This week's Federal Reserve resolution will focus on "four major highlights"
As the Federal Reserve is about to hold its first interest rate meeting of the second half of the year on Wednesday, this crucial meeting that is likely to predict whether to cut interest rates in September has undoubtedly attracted the attention of almost all Wall Street people. And the Federal Reserve's "mouthpiece" - Nick Timiraos, the "New Federal Reserve News Agency" - who has played a key role in the Fed's "quiet period" multiple times, is now clearly "writing hard".
Super central bank week approaching, market awaits decision on US, Japan, UK interest rates
This week marks the 'Super Central Bank Week'. In less than 32 hours from noon on July 31st to evening on August 1st Beijing time, the market will welcome the interest rate decisions of the US, Japan, and the UK central banks. Among them, the Federal Reserve's interest rate decision is undoubtedly highly anticipated. The current consensus in the market is that the Federal Reserve will continue to remain "inactive" at this meeting, and whether the relevant wording can continue to turn dovish and release signals of interest rate cuts is the focus of market attention.
Witness history! The size of the US federal government debt has exceeded the $35 trillion mark
The latest data from the US Treasury Department shows that the size of the US federal government debt has exceeded the $35 trillion mark. Recently, more and more US politicians, businessmen and economists have expressed their concern about the US debt problem. American Heritage Foundation economist EJ Anthony recently stated that in June of this year, the amount of interest paid on federal debt in the United States was equivalent to 76% of monthly personal income tax revenue. Tesla CEO Elon Musk recently issued a statement saying, "The United States is heading towards bankruptcy
Is there no rotation of US stocks or selling of technology stocks? UBS firmly bullish: this is a good opportunity to buy on dips!
UBS stated in its latest report released on Monday that this month's sell-off in technology stocks is a good opportunity for long-term investors to buy on dips. Recently, investors have shifted from large cap stocks to small cap stocks, intensifying selling and leading some to question whether the trend of large tech stocks outperforming the market over the years has ended. But according to UBS, the recent decline in technology stocks is only temporary.
Biden announces major plan, White House responds!
According to CCTV News on the 30th, on July 29th local time, Stephen Benjamin, Senior Advisor to the White House and Director of the Office of Public Engagement, stated at a briefing that President Biden's plan to reform the Supreme Court requires legislative action and the joint assistance of members of Congress from both parties to complete the reform. Biden called for reform of the Supreme Court on that day, including changes to term limits for Supreme Court justices and binding codes of conduct for the Supreme Court. In addition, Biden also called for the former president to no longer enjoy immunity for crimes committed during his tenure.
Two tech giants have a conversation by the fireplace: Huang Renxun predicts the next wave of AI, Zuckerberg warns of this' nightmare '
At the SIGGRAPH graphic conference held in Denver, USA, Nvidia founder and CEO Huang Renxun sat down with senior contributor Lauren Gould from Wired magazine and Meta founder and CEO Mark Zuckerberg for two hearth talks, envisioning the future of generative artificial intelligence.
Company News
Negative attack! Big news from BHP! What will happen to the maximum copper mine or strike copper prices?
Trillion giant BHP Billiton, comes a heavyweight news! On July 29th, it was reported that the labor union of the Escondida copper mine in Chile urged its nearly 2400 members to reject the contract offer and prepare for a strike. BHP holds 57.5% equity in Escondida copper mine. Affected by the above news, BHP Billiton's stock price fell 1.5% at one point during trading on the 29th, and eventually closed down 0.67%, with its market value shrinking to 139.5 billion US dollars, equivalent to about 1 trillion yuan in Chinese yuan.
Cashed out over $3 billion from Bank of America! Buffett makes another move
According to documents from the US Securities and Exchange Commission (SEC), Berkshire Hathaway, owned by Warren Buffett, reduced its holdings of approximately 18.41 million shares in Bank of America between July 25th and 29th, cashing out approximately $767 million. Berkshire Hathaway reduced its holdings of approximately 71.29 million shares in Bank of America throughout July, with a total cash out of over $3.046 billion (approximately RMB 22.1 billion).
Apple releases AI feature test version without integration into ChatGPT, only for paid developers
On Monday (July 29th) local time, Apple Inc. (AAPL, stock price $218.240, market value $3.347 trillion) released a beta version of "Apple Intelligence," primarily aimed at developers. Apple released developer beta versions of iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1 on Monday, allowing users to experience some of the features of "Apple Intelligence", which is currently only available to Apple developers. The annual fee for the Apple Developer Program is $99.
Microsoft financial report outlook: AI revenue and capital expenditures will become the focus of attention!
At present, Wall Street is closely monitoring the investment expenditures and revenues of large technology companies in artificial intelligence, hoping to discover signs of positive returns on related investments. Among them, AI leader Microsoft will announce its fourth quarter (April June) financial report after US stock market hours on Tuesday (July 30).
NVIDIA accelerates the development of humanoid robots. Huang Renxun: Open access to global robotics companies
On July 29th local time, Nvidia announced at the SiGGRAPH conference that it will provide a complete set of services, models, and software platforms for the world's leading robot manufacturers, AI model developers, and software manufacturers to develop, train, and build the next generation of humanoid robots. Nvidia founder and CEO Huang Renxun stated that we are advancing the development of the entire Nvidia robot stack, opening access to global robot developers and companies to use the platform, acceleration libraries, and AI models that best meet their needs.
Analysts test Tesla's fully autonomous driving: almost had a car accident, changed lanes twice on solid roads!
On July 30th, Overseas Network cited Bloomberg's report on July 29th, stating that recently, William Stern, an analyst at Truist Securities, a US investment firm, tested Tesla's FSD and narrowly avoided a car accident. Stein revealed serious safety hazards of Tesla FSD in actual road testing.