On Wednesday Eastern Time, the three major US stock indexes closed mixed, with the Dow Jones Industrial Average rising for six consecutive days. As of the close, the Dow Jones Industrial Average rose 0.44%, the S&P 500 Index fell slightly by 0.0006%, and the Nasdaq fell 0.18%. Large technology stocks fluctuated, with Intel falling more than 2%, Tesla and Google falling more than 1%, and Amazon and Nvidia slightly falling; Apple, Netflix, Microsoft, and Meta saw a slight increase.
Popular Chinese concept stocks generally fell, with Xiaopeng Automobile falling more than 6%, NIO falling more than 5%, Ideal Automobile falling more than 4%, Weibo falling more than 3%, Futu Holdings and iQiyi falling more than 2%, Bilibili and Alibaba falling more than 1%, Baidu, Tencent Music, JD.com, and NetEase falling slightly. Vipshop and Pinduoduo rose by over 1%.
Global News
10-year US Treasury yields hit a three week low, with Mnuchin calling on election winners to control the federal debt burden
The yield of US 10-year treasury bond bonds continued to fall on Tuesday, as the market's expectation of interest rate cut within the year was significantly higher after the announcement of the Federal Reserve's resolution and non farm data last week. The US Treasury Department also auctioned US $58 billion of three-year treasury bond bonds overnight, obtaining good demand as a whole. The 10-year US Treasury yield, known as the "anchor of global asset pricing," once fell to 4.42% during trading, the lowest since April 10th. It continued to accelerate its decline after the April non farm employment growth announced last Friday was lower than expected.
The Federal Reserve has an emergency! Nearly 5 trillion yuan trading hands release eagles
The former super trader spoke up! Minneapolis Federal Reserve Chairman Neil Kashkali suddenly stated on Tuesday local time that the strength of the real estate market has to some extent driven up inflation, which means that the Federal Reserve needs to maintain current interest rates stable for a longer period of time, even throughout the year. Kashkali was once the head of the implementation of the $700 billion (nearly 5 trillion yuan) financial rescue plan by the US Treasury Department, and was also a hawkish member of the Federal Reserve's voting committee in the past, but he did not have voting rights this year.
Is the US economy showing cracks? Wall Street analysts warn: If the Federal Reserve does not cut interest rates again, a collapse is imminent!
At a time when the Federal Reserve is still hesitant about the prospect of interest rate cuts, Marija Veitmane, a senior Wall Street figure and head of global market stock research at Dow Jones, warns that although the current US economic data appears strong, there are already many signs that high interest rates have put enormous pressure on the US economy. If the Federal Reserve does not cut rates soon, the US economy will inevitably collapse.
Is it going to happen again in 1929? Legendary investors have issued another warning of a sharp drop in the US stock market, accurately predicting a crash twice!
John Hussman, a well-known fund manager in the United States, recently warned that the extreme bull market in the US stock market is coming to an end as overly optimistic investors have pushed stock market valuations to the highest level in nearly a century. From 1998 to 2000, Hussman established the hedge fund Hussman Strategic Advisors, which successfully predicted the Internet foam. Afterwards, he also successfully foresaw the global financial crisis of 2008-2009.
What is the situation? The avian influenza epidemic is spreading rapidly, and the United States is taking urgent action!
The United States suddenly became nervous. Faced with the rapid spread of avian influenza, the US authorities are taking urgent action. The Centers for Disease Control and Prevention in the United States stated in its latest announcement that state health officials have been requested to assist in distributing protective equipment to workers on farms across the country to avoid contracting H5N1 avian influenza. It is worth noting that this wave of avian influenza has seen cases of transmission from cattle to humans, causing widespread concern. The latest update is that the Centers for Disease Control and Prevention in the United States stated that at least 220 people have been "monitored for the virus after relevant contact.". But federal officials refused to answer questions from American media about where the monitored workers are in the country.
Company News
The Biden administration revokes Qualcomm and Intel's license to sell semiconductors to China
On May 7th, multiple foreign media outlets including Bloomberg, Financial Times, and Reuters reported that the Biden administration further tightened export restrictions on Huawei and revoked licenses for American chip companies Qualcomm and Intel to sell semiconductors to China. The US Department of Commerce confirmed on the same day that it had "revoked some of its export licenses to Huawei," but did not disclose which US companies were affected.
Musk's Autonomous Driving Program Goes Further China May Support Tesla's Testing of Autonomous Driving Rentals
Recently, Tesla CEO Musk's lightning fast visit to China sparked discussions and speculation about Tesla's entry into China for Full Self Driving (FSD). China Daily reporter learned exclusively from multiple sources that Tesla has proposed to implement an "unmanned taxi" in China. In this regard, the Chinese government may first support its testing and demonstration in China, but has not yet fully approved the full implementation of its FSD in China.
Is iPad the Most Important Release? The starting price of the thinnest version Pro qualitative AI device with M4 chip on its debut has skyrocketed
On the evening of May 7th at 10pm Beijing time, Apple released a new generation of iPad product series, including the iPad Pro and iPad Air. Both series have 11 inch and 13 inch versions, with Apple first using the latest chip M4 for the iPad Pro. Strong performance and indeed very expensive in price. The entry-level storage capacity of iPad Pro is 256GB, and the 11 inch version starts at 8999 yuan, while the 13 inch version starts at 11499 yuan. The price of the previous generation product has increased by 2200 yuan.
OpenAI vs Google head-on? ChatGPT search engine revealed to be released soon this week!
As more and more competitors launch chatbots, the artificial intelligence giant OpenAI is attempting to introduce more features to enter the search market and enhance its competitiveness. According to insiders, plans are underway to launch a search engine product based on its ChatGPT chatbot, which may be released within this week. This means that OpenAI may compete head-on with Google, a subsidiary of Alphabet Inc.
Nvidia can still increase by another 22%! Goldman Sachs: AI spending will continue to be high, valuations are still very cheap
In its latest report released on Tuesday, Goldman Sachs stated that although Nvidia's stock has risen by 88% this year after more than doubling last year, there is still a lot of room for growth in the future. The bank has raised Nvidia's target stock price from $1000 to $1100, which means the stock still has about 22% potential for growth compared to its current level.