Before the US stock market opened on Tuesday (March 12th), the overall inflation rate and core inflation rate announced by the US Department of Labor exceeded market expectations.
Specific data shows that the US CPI in February increased by 3.2% year-on-year, reaching a new high since December last year; After excluding volatile food and energy prices, the core CPI increased by 3.8% year-on-year, stronger than market expectations of 3.1% and 3.7% respectively, even though 3.8% is the lowest growth rate since May 2021.
The higher than expected inflation rate may keep the Federal Reserve's high interest rates for a longer period of time. After the data was released, US bond yields surged in the short term, and futures on the S&P 500 index and Nasdaq 100 index briefly turned lower. Analyst EndaCurran said that housing and gasoline costs seem to be the driving forces behind these two inflation increases.
In terms of individual stocks, NVIDIA, the hottest pre market trading company, rose over 2%, while AMD Computer rose nearly 4%. Oracle rose over 12%, the company's previously announced Q3 profit exceeded expectations, and cloud computing revenue increased by 25% year-on-year. Oracle executives have revealed that they will soon release an "exciting joint statement" with Nvidia.
Company news
Apple's Increase in Investment in China: Enhancing the Capacity of Shanghai Research Center and Establishing a New Shenzhen Applied Research Laboratory
Apple announced on March 12th that it will expand its applied research laboratory in China to support product manufacturing. As of now, Apple has invested over 1 billion yuan in its application research laboratory. Apple Vice President and Managing Director of Greater China, Ge Yue, introduced that the new investment is mainly used in two aspects: first, to enhance the capabilities of the Shanghai Research Center, so that it can provide support for the reliability, quality, and material analysis of all product lines. Secondly, later this year, Apple will also open a new application research laboratory in Shenzhen to provide stronger support for employees in the entire region and deepen cooperation with local suppliers. This new laboratory will enhance testing and research capabilities for products such as iPhone, iPad, and Apple Vision Pro.
[Apple's new iPad may be released at the end of March or April]
Technology journalist Mark Gurman reported that Apple plans to release new iPad Pro and iPad Air by the end of March or around April. He also stated that it is expected that the new Miao Kong keyboard and Apple Pencil suitable for related iPads will be launched simultaneously.
[Media: Boeing has failed more than 30 audits]
According to local media reports on the 11th, some media have obtained detailed results from the Federal Aviation Administration's audit of Boeing and its aircraft suppliers. According to the report, the Federal Aviation Administration of the United States conducted 89 audits of Boeing, of which 33 were unsuccessful, and a total of 97 potential non compliant situations were identified. Thirteen audits were conducted on the aircraft supplier, inevitably Rui Aviation Systems, of which seven failed, more than half. Both companies have failed audits involving embedded emergency doors in aircraft.
Tesla's German factory has been reconnected to the power grid after a week of power outage
Tesla's German factory experienced a week-long power outage due to arson, and the power company responsible for resolving the initial power outage issue announced late Monday that the factory has been reconnected to the grid. Tesla earlier stated that it will gradually start the system within the factory after power is restored. It is reported that the factory has approximately 12500 employees.
OpenAI claims that Musk's accusations are based on "disconnected" factual premises
OpenAI stated in a court document that Musk's allegations are based on "disconnected" factual premises. This is the first legal response made by the startup company after Musk filed a lawsuit against OpenAI. OpenAI also reminded the court that Musk may use this lawsuit to obtain OpenAI's "proprietary records and technology", therefore requiring "careful supervision" of information sharing programs.
Nvidia claims that its NeMo artificial intelligence platform complies with copyright laws
A spokesperson for Nvidia stated in a statement on Monday, "We respect the rights of all content creators and believe that we fully complied with copyright laws when creating NeMo." Earlier, three authors sued Nvidia, claiming that the chip manufacturer used some of their books without permission to train NeMo models.
Southwest Airlines plans to reduce its capacity in 2024
Southwest Airlines fell nearly 7% in the US stock market before trading, as the company plans to reduce its capacity for 2024. Southwest Airlines stated that due to the ongoing challenges and changing delivery schedules faced by Boeing, the company plans to reduce capacity and re optimize its schedule, mainly in the second half of 2024. The company will also reassess all previous guidance for the full year of 2024, including expectations for capital expenditures, and plans to provide the latest guidance for the full year of 2024 while announcing the financial results for the first quarter of 2024 on April 25th.
[Ideal adjustment of the 2024 model series. Ideal L7Air and L8Air have reduced their selling prices by 18000 yuan]
According to the official WeChat account of Ideal Automobile, the sequence of 24 models of Ideal L7 and 8 will be adjusted, with the names changed from Air, Pro, and Max to Pro, Max, and Ultra; The naming of the 24 L9 Max models will also be adjusted synchronously to L9 Ultra. At the same time, the official price of the Ideal L7 Air has been adjusted to 301800 yuan, and the Ideal L8 Air has been adjusted to 321800 yuan. The 2023 Ideal L7 Air and L8 Air will continue to be sold.
Events worth paying attention to during the US stock market period (Beijing time)
March 12th
20: 55 US to March 9th Weekly Redbook Commercial Retail Sales Annual Rate
March 13th
00:00 EIA releases monthly short-term energy outlook report
00:15 Bank of England Governor Bailey delivered a speech.
02:00 US February Government Budget
04:30 API crude oil inventory for the week from the United States to March 8th