Hot news
Approaching another shutdown, Biden warns that a government shutdown will damage the US economy
As time to reach an agreement runs out, US President Joe Biden urged avoiding a partial government shutdown during a meeting with congressional leaders at the White House. Biden emphasized on Tuesday the urgent need to pass a spending bill to allow government agencies to continue operating beyond the March 1 deadline. He also urged congressional leaders to approve his request for tens of billions of dollars for Ukraine, Israel, and the U.S.-Mexico border, saying the consequences of inaction were “very serious.”
Federal Reserve Bowman reiterated that it is still too early to cut interest rates, and even suggests retaining the option to raise interest rates
On Tuesday local time, Federal Reserve Governor Michelle Bauman reiterated that she expects inflation to continue to decline further as interest rates remain at current levels, but it is still too early to start cutting interest rates. Bauman warned that cutting interest rates too soon could cause interest rate hikes in the future, which is very similar to what she said earlier this month.
Is polarization more serious? Damo: There is no small-cap market in US stocks; large-cap stocks will continue to support the market
In 2024, US small-cap stocks are in trouble, and the trend of large stocks supporting the US stock market is becoming more and more obvious. Damo believes that in the future, the profitability of small-cap stocks will be further squeezed, and the polarization situation may become more serious. Damo speculates that the future performance of large-cap stocks will continue to surpass small-cap stocks. On the one hand, in addition to economic environmental factors, operational efficiency is becoming the key for enterprises to focus on the future, and it can also show the advantages of large-cap stocks in this regard.
The traders surrendered! There are only 3 expectations left for the Fed to cut interest rates this year
Bond traders no longer expect the Fed to cut interest rates by more than 75 basis points this year, which is in line with the most likely outcome suggested by the Fed's policymakers. It is predicted that the swap contract decided by the Federal Reserve will be repriced to a higher interest rate level. The December contract reached 4.58% in the afternoon trading in New York on Tuesday, only 75 basis points lower than the 5.33% effective federal funds rate.
Bitcoin surpasses $57,000! More institutions prepare to launch cryptocurrency ETFs, Ethereum is next
The listing of a Bitcoin spot ETF pushed the price of Bitcoin to once surpass 57,000 US dollars on Tuesday, and the price of Ethereum was also close to 3,300 US dollars at one point. Currently, 10 institutions have submitted applications for the listing of an Ethereum spot ETF. Analysts believe that approval of a Bitcoin spot ETF would also mean that an Ethereum spot ETF will also be approved, but some of Ethereum's unique characteristics may also make its spot ETF face more regulatory barriers.
After reaching new highs, BlackRock and Damo continued to look at multi-day stocks
As Japanese stocks have repeatedly reached new highs, Wall Street banks BlackRock and Morgan Stanley continue to be bullish. The former reiterated their ratings of increasing their holdings of Japanese stocks, saying they may continue to “break through new highs,” while the latter said that Japanese stocks are not showing signs of overheating, and Nikkei's breakout of new highs is probably “just the beginning.”
Resumption of US stock trading
The three major stock indexes fluctuated in a narrow range. Nvidia closed down slightly, and the ideal rise was close to 12% to reach a record high
Although the market safely passed the $42 billion 7-year US Treasury bid on Tuesday, the PCE data that hangs at the top of the US stock market will not fall until Thursday. As a result, the three major stock indexes spent another trading day fluctuating in a narrow range.
The supertech giants rose more and less, with Apple up 0.81%, Microsoft down 0.01%, Amazon down 0.68%, META up 1.1%, Google-A up 0.95%, Tesla up 0.17%, and Nvidia down 0.49%.
In terms of Chinese securities, the Nasdaq China Golden Dragon Index rose 2.1%, Alibaba rose 1.53%, Baidu 1.6%, Pinduoduo rose 1.46%, JD 1.6%, NetEase rose 5.27%, NIO 2.3%, Ideal Auto rose 11.78%, and Xiaopeng Auto rose 1.74%. China's education stock surged 30.64% after Gaotu announced its earnings report.
Did 10 years of car construction lose to the AI wave? Apple allegedly cancels electric vehicle project, team turns to generative AI
On Tuesday, February 27, EST, the media quoted people familiar with the matter as saying,$Apple (AAPL.US)$Internal disclosure that the electric vehicle project will be cancelled surprised nearly 2,000 employees working on the project. Many of them will be transferred to the AI department to focus on generative AI projects. Hundreds of other engineers and designers may apply for jobs in other teams, and Apple may lay off employees. After the news broke, Apple's stock price turned up intraday and finally closed up nearly 1%.
Viking Therapeutics surged more than 121%, new drug data tremors “diet drug duos”
Driven by the company's disclosure of positive clinical trial data for the diet drug VK2735,$Viking Therapeutics (VKTX.US)$Shares surged 121.02%. The phase II clinical data of VK2735 not only showed remarkable results, but the weight loss process did not show a plateau period, which means that subsequent extended test cycle data will be more beautiful. In the past two months, the stock price of Viking Therapeutics has doubled due to news of an acquisition.
Approaching a record high! Ideal car performance surged nearly 33% in the next two days
$Li Auto (LI.US)$Following an increase of 18.79% in earnings reports on the previous trading day, it surged 11.78% on Tuesday. After two consecutive days of sharp gains, we are only a stone's throw away from a new all-time high.
Tesla mobile app launches AI chat assistant
On Tuesday local time in the US,$Tesla (TSLA.US)$A new artificial intelligence chat assistant has been added to the phone software update. This one, called “Tesla Assistant Beta,” can answer questions about existing Tesla products registered in the app, or other Tesla products.
Microsoft's GitHub provides customers with stronger and more expensive AI programming tools
$Microsoft (MSFT.US)$Its GitHub releases a more expensive AI software development tool, which can answer questions based on a company's own programming code. GitHub hopes the new tools will help new engineers adapt faster and support long-time programmers to work faster. According to reports, the GitHub-based CoPilot Business service charges $19 per person per month, and the newly launched Copilot Enterprise fee standard has reached $39 per person per month.
Top 20 US stock turnover
Hong Kong Market Outlook
Beishui added CNOOC's inventory for nearly HK$600 million and sold Tencent over HK$800 million
On February 27 (Tuesday), Southbound made a net purchase of HK$1,329 billion in Hong Kong stocks.
$CNOOC (00883.HK)$,$SMIC (00981.HK)$,$SAMSONITE (01910.HK)$Received net purchases of HK$566 million, HK$340 million and HK$201 million respectively;
$TENCENT (00700.HK)$,$MEITUAN-W (03690.HK)$,$CCB (00939.HK)$Net sales were HK$841 million, HK$488 million, and HK$81.37 million respectively.
Today's attention
Keywords: revised US GDP for the fourth quarter, Baidu/iQiyi/Snowflake/Saifushi results, Hong Kong's “Budget”
In terms of economic data, investors can pay attention to the revised quarterly annualized rate of US GDP for the fourth quarter on Wednesday. The market expects limited changes compared to the initial value of 3.3%. They can keep an eye on revisions to key items such as consumer spending.
J.P. Morgan economist Daniel Silver said that the bank has raised its tracking forecast for the US GDP for the last three months of 2023 to 3.3%, which is in line with the initial forecast announced by the US government last month.
In terms of financial reports,$Baidu (BIDU.US)$,$iQIYI (IQ.US)$Results will be announced in advance of the US stock market;$Snowflake (SNOW.US)$,$Salesforce (CRM.US)$The results of US stocks will be announced after the market.
Futubull Chen read:
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