On Tuesday Eastern Time, the US stock market opened high and rose, with the three major indexes collectively closing higher. As of the close, the Nasdaq rose 1.59%, the S&P 500 index rose 1.2%, and the Dow Jones rose 0.69%. Large tech stocks rose generally, with Netflix up over 4%, Nvidia up over 3%, Meta up over 2%, Tesla, Microsoft, Google, Amazon up over 1%, and Apple up slightly.
Popular Chinese concept stocks rose generally, with Futu Holdings up over 11%, iQiyi up over 6%, Tencent Music up over 4%, Pinduoduo up over 3%, Xiaopeng Motors, Alibaba, JD.com up over 2%, Vipshop up over 1%, and Baidu, Weibo, and NIO slightly up. Bilibili fell more than 2%, NetEase fell more than 1%, and Ideal Automobile slightly declined.
Global News
US Treasuries Stable Before Record Auction Tide BlackRock predicts the Federal Reserve will cut interest rates twice this year
The yield of US Treasuries did not fluctuate much this week. Investors were waiting and watching before the US Treasury Department auctioned US $183 billion of treasury bond bonds later this week. In addition, many traders are also waiting for PCE data to provide new clues on when the Federal Reserve may start cutting interest rates. The main focus of this week's economic data will be the US Q1 GDP data released on Thursday and the March PCE price index on Friday. The market expects the US core PCE price index to rise by 0.3% month on month and 2.7% year-on-year in March.
Revised six months ago? What happened the last time the volatility index VIX challenged 20 this week or again?
Since April, the Cboe volatility index VIX has risen by nearly 30% and is approaching the 20 level. The last time this situation occurred was in October last year, when concerns about the Federal Reserve's policies and resonance in the financial reporting season triggered a correction in US stocks, with the S&P 500 index and Nasdaq plummeting nearly 7% in two weeks. Now, the market may once again reach a critical point. Goldman Sachs predicts that if the S&P 500 effectively falls below 5135 points, the short-term trend will turn negative, and hedge funds may sell $20 billion to $42 billion in US stocks within the next month.
Be careful! Founder of a well-known Black Swan fund in the United States: The day the Federal Reserve cuts interest rates is the beginning of the market crash
Amidst the ongoing debate in the US financial market over the timing of interest rate cuts, one of Wall Street's most pessimistic hedge fund managers, the founder of Black Swan Fund, who excels at profiting from tail risk, has issued different warning voices. He believes that investors should take advantage of the ongoing economic optimism in the near future, as the Federal Reserve's shift towards interest rate cuts will herald a severe market crash.
Two major risk points continue to escalate! The strong US dollar has launched a "harvest" model, and emerging markets have launched a "currency defense war"
The strong US dollar has once again entered a "harvesting" mode, causing global financial markets to tremble. At present, emerging markets have launched a "currency defense war". The Bloomberg dollar index has risen by more than 4% this year, and bullish bets on the US dollar have surged to the highest level since 2019. The soaring US dollar has had a negative impact on the currencies and economies of other countries, and Japan, South Korea, Poland, and others have issued warnings to intervene in the foreign exchange market.
Standard Chartered insists on bullish Bitcoin: The situation in the Middle East has triggered a recent pullback, but it will double again by the end of the year!
After Bitcoin completed its quadrennial halving last Saturday Beijing time, Xiaomo issued a warning that Bitcoin may fall after the halving. But Geoff Kendrick, head of digital asset research at Standard Chartered Bank, holds a completely different view: he predicts that the price of Bitcoin may still more than double this year.
Company News
A bearish raid! How much will the downgrade affect the ratings of the six major US stock giants?
A bearish attack on tech giants in the US stock market. After the sharp decline of technology giants in the US stock market, UBS announced that it will downgrade the ratings of the six major technology stocks (Apple, Amazon, Alphabet, Meta, Microsoft, and Nvidia) from "overweight" to "neutral". On the eve of UBS rating downgrade, the "seven sisters in the US stock market" (Microsoft, Apple, Google, Nvidia, Amazon, Meta, Tesla) suffered a round of violent selling, and the total market value in a single week evaporated by more than 960 billion dollars (about 6900 billion yuan).
Does Apple have a bad start to the year? Bank of America is firmly optimistic: it should be the first stock selection in 2024!
As Apple is about to release its latest financial report, Bank of America has listed it as its "preferred stock for 2024" and expressed optimism about the performance report and the company's long-term prospects. Bank of America analyst Wamsi Mohan wrote in his latest report that Apple has a "rich catalyst pathway and defensive cash flow", and he rated the stock as "buy" with a target price of $225.
Musk's "salary negotiation" faces fatal questioning from shareholders: which is more important between Tesla and X?
Tesla proposes to re vote on CEO Musk's several hundred dollar compensation plan at the company's annual shareholder meeting in June. Previously, Musk's compensation package worth up to $56 billion was declared invalid by the US District Court. Tesla's board of directors claims to establish a special committee to evaluate Musk's compensation plan, which will be reviewed by independent director Kathleen Wilson Thompson. The board of directors stated in a document that shareholders need to re authorize Musk's compensation bill to incentivize Musk's leadership over Tesla.
Taiwan's Hualien earthquake, TSMC responded with "unexpected impact on operations"
The earthquake on April 3rd has caused damage to some equipment at TSMC, with an estimated loss of NT $3 billion. How will the recent earthquakes affect Taiwan's semiconductor manufacturing industry? On April 23rd, TSMC replied to First Financial reporters that the earthquakes did not meet external evacuation standards, and the factory and industrial safety systems were normal. Currently, it is not expected to have any impact on operations. Liandian replied to reporters that "there is no impact.". The first financial reporter also sent emails to semiconductor manufacturers such as TSMC, Huabang Electronics, and World Advanced on the impact of the earthquake, but there has been no response as of the time of publication.
Can Nvidia's AI "quartet" of Goldman Sachs still be performed after a 18% drop from its high position?
The volatility of technology stocks such as Nvidia has rapidly increased recently. Last Friday, the stock evaporated one day in Kweichow Moutai, and rose another 600 billion yuan overnight. However, the long short dispute over Nvidia has not stopped. The bulls believe that the AI market is only the first stage, while the bears are worried about the shipment of B100, like other chip stocks.