On Wednesday Eastern Time, the three major US stock indexes collectively rose, with the S&P 500 index reaching a historic closing high. As of the close, the Dow Jones Industrial Average rose 1.22%, the Nasdaq rose 0.51%, and the S&P 500 index rose 0.86%. Large tech stocks saw mixed gains and losses, with Intel up over 4%, Apple up over 2%, Tesla up over 1%, and Google, Amazon, and AMD slightly up; Nvidia and Netflix fell more than 2%, while Microsoft and Meta saw a slight decline. Trump Media Technology Group (DJT) rose over 14%, with a total market value exceeding $7.5 billion.
In terms of other stocks, MSD rose more than 5% and its stock price reached a historic high. MSD's pulmonary hypertension drug rotatercept has been approved by the FDA.
Popular Chinese concept stocks fluctuated, with the Nasdaq China Golden Dragon Index rising 0.03%. Bilibili rose by over 5%, JD.com rose by over 3%, Baidu rose by over 1%, and Alibaba and NetEase Youdao saw a slight increase; Xiaopeng Automobile fell more than 8%, Pinduoduo, Beike, and NIO fell more than 2%, Ideal Automobile fell more than 1%, and NetEase, iQiyi, and Tencent Music fell slightly.
Global News
Is the market expecting the Federal Reserve to cut interest rates too high? US elections may increase difficulty in controlling inflation
Senior Wall Street insiders believe that the Federal Reserve's policy statement has left significant room for maneuver. Li Shanquan, Senior Fund Manager of Jingshun Fund in the United States, stated in an interview with First Financial that on the one hand, given the widespread discussion in the market about the possibility of a rate cut by the Federal Reserve, the Federal Reserve needs to respond to the media; On the other hand, it is also necessary to maintain relatively good economic data in the United States. Due to the uncertainty of the timing and intensity of interest rate cuts, the Federal Reserve has not brought any particularly substantial content.
The Federal Reserve's interest rate hike "harms one thousand enemies and self harms eight hundred": a record breaking blood loss last year!
On Tuesday (26th Eastern Time), the Federal Reserve released its audited annual financial statements for 2023. This report reveals that raising interest rates is indeed a "loss of one thousand to oneself" - it can indeed cool inflation, but its own interest expenses have surged, with the Federal Reserve recording a record loss last year. The report shows that as of December 31, 2023, the total assets of the Federal Reserve were approximately $7.8 trillion, a decrease of $0.7 trillion from the previous year. Total assets are mainly composed of US treasury bond bonds, federal agency bonds, and government backed enterprise mortgage-backed securities (MBS).
An unexpected collapse of a bridge in the United States! The closure of important ports will have a huge impact on the automotive and coal supply chains
In the early hours of Tuesday Eastern Time, a container ship named "Dali" collided with the "Francis Scott Key" bridge in Baltimore, USA, causing the bridge, which is about 2.5 kilometers long, to collapse within seconds. After the incident, both Baltimore and Maryland declared a state of emergency. As of Tuesday afternoon Eastern Time, at least six people have gone missing in this accident, and search and rescue work is still ongoing. The impact of this disaster will further spread and may affect the US supply chain in the coming weeks, posing a threat of transportation disruptions to up to 2.5 million tons of coal, large quantities of cars, wood, and gypsum.
Is the collapse of the yen just the beginning? Looking at the world: The strong US dollar is once again causing trouble
If we talk about which country's financial market situation was most eye-catching in the first quarter of this year, then the answer is undoubtedly Japan - just last month, the Nikkei 225 index just broke the 34 year high record; And this week, the Japanese yen also became the focus of global financial media spotlight: it plummeted to a new low in nearly 34 years during the day! This scene may somewhat surprise some currency traders: even though the Bank of Japan just ended negative interest rates last week and announced a rate hike for the first time in 17 years, how did the decline of the Japanese yen quickly further amplify after the country's central bank raised interest rates?
Will the production reduction be carried out to the end? OPEC+reportedly unlikely to change policies before the June meeting
According to sources cited by the media, it is unlikely that OPEC+will change its oil production policy before the June meeting, and it is expected that the alliance will not make any policy recommendations at next week's ministerial meeting. OPEC+is an alliance formed by the Organization of the Petroleum Exporting Countries (OPEC) and countries led by Russia. The alliance's crude oil production accounts for over 40% of the world's total crude oil production, approximately 43 million barrels per day. OPEC+will hold a Joint Ministerial Supervisory Committee (JMMC) meeting next Wednesday (April 3) to review the implementation of production cuts by the market and member countries. Sources say that OPEC+is not expected to take action before June, and the April meeting may come to a quick and straightforward conclusion.
Latest! US judge issues an injunction against Trump
According to CCTV News on March 27th, on March 26th local time, Judge Juan Melchan, who was presiding over the "sealing fee" case against former US President Trump, issued a restraining order against Trump, prohibiting him from attacking witnesses, prosecutors, and jurors in the case. According to The New York Times, Mel Shang issued this order at the request of the Manhattan District Prosecutor's Office. According to the injunction, Trump cannot make public statements about the role of witnesses in the case, nor can he instruct others to make statements. Trump is also prohibited from commenting on prosecutors and court staff.
Company News
Apple official announcement is set! IOS 18 or debut! Apple executives also hinted at this important detail in their tweets
On Tuesday, March 26th local time, Apple announced on its official website that it will hold the World Developers Conference "WWDC24" online from June 10th to 14th, 2024 Pacific Time. On the day before WWDC24 (June 10th, Beijing time, coinciding with this year's Dragon Boat Festival), Apple will hold a full day event at its headquarters in Apple Park, California, USA. The heaviest keynote speech segment will be held on the same day. Apple announced that the meeting will be broadcast live on its website. At this year's conference, Apple may announce its long-awaited artificial intelligence strategy and consumer features.
The AI winners are not just Nvidia! Wedbush raises Microsoft's target price: an additional 18% increase!
On Tuesday (26th), Dan Ives, a renowned strategist at the US investment bank Wedbush, raised Microsoft's target stock price from $475 to $500, stating that the company's artificial intelligence (AI) business is a major growth accelerator. Copilot is an AI assistant added by Microsoft in Windows 11. The AI assistant is an integrated sidebar tool in the operating system that can help users complete various tasks.
Trump goes public again and makes a fortune! Fans take over the shares and investors make a large proportion of short selling
According to media statistics, Trump will own 58% of the merged company's shares, or nearly 79 million shares. Based on the closing price of $49.95 local time on the 25th, DWAC's shares are valued at $3.9 billion. This has brought his total wealth to $6.4 billion, making him one of the world's wealthiest 500 on the Bloomberg Billionaires Index for the first time.
Commercial real estate is in crisis! Five regional banks in the United States have their rating outlook downgraded to "negative"
On Tuesday Eastern Time, rating agency S&P Global downgraded the rating outlook of five regional banks in the United States to "negative". This move may reignite investors' concerns about the health status of the industry. As of Tuesday, S&P Global had a negative outlook for nine US banks, accounting for 18% of the total number of banks rated by it. S&P Global also stated that most of these ratings are "at least to some extent related to substantial exposure to commercial real estate.".
Taobao "Clearing Warehouse" Bilibili Equity Alibaba Accelerates Exit of Non Core Assets
On March 26, Bilibili (also known as Bilibili) announced that as of March 21, 2024, Taobao China Holdings Limited no longer holds any ordinary shares or American Depositary Shares of Bilibili. Therefore, as of the announcement date, Taobao is no longer the beneficial owner of more than 5% of the issuer's Class Z common shares or American depositary shares.
Merck's imported hepatitis A vaccine will exit the domestic market
Interface News recently learned from multiple sources that Merck is about to discontinue its Hepatitis A vaccine, Viagra? Supply in the domestic market. The staff of the CDC in a city in East China confirmed to the interface news that MSD was ready to suspend the supply of inactivated hepatitis A vaccine in Chinese Mainland, but the follow-up use of the delivered vaccine was not clear. Interface news also learned similar statements from the Community Health Service Center in Shunyi District, Beijing. The other party's staff also stated that Merck's imported inactivated hepatitis A vaccine is about to be delisted.