Global macroscopic
Before Thursday's market, the three major US stock indices had mixed ups and downs. Friday was Good Friday, and the US stock market was closed for one day
The final quarterly annualized real GDP rate for the fourth quarter of the US was 3.4%. The forecast was 3.2%, compared with the previous value of 3.2%.
The number of jobless claims in the US until the beginning of the week of March 23 was 210,000. It is expected to be 212,000, compared with the previous value of 210,000.
Energy and healthcare costs remain high! Yellen: Reducing inflation is still a top priority
US Treasury Secretary Yellen said on Wednesday that due to inflation, the energy and health care costs faced by American households remain high, and reducing these costs is still the top priority of the Biden administration's economic policy. In her speech, Yellen said that US GDP growth is strong, inflation has dropped sharply from a high level, and the labor market is very healthy. However, she also said that the White House is aware that energy and medical costs are still high, and that the effects of inflation are still lingering in the economy.
Xiaoma is firmly bearish: US stocks are too crowded, be wary of the risk of a collapse
Lacos Bujas, chief global analyst at J.P. Morgan Chase, reiterated his view that the best performing stocks in the US stock market are already overcrowded, and the risk of an impending pullback is gradually increasing. He said, “The collapse of US stocks may occur suddenly one day. This has happened in the past, and we have experienced flash crashes.”
Economists judge: even if the Fed doesn't cut interest rates this year, US stocks will continue to rise
Steven Blitz, chief US economist at investment research firm TS Lombard, believes that investors need not worry about this; even if the Federal Reserve does not cut interest rates this year, US stocks will continue to rise. He said, “Actually, the Federal Reserve has told us they won't raise interest rates any more. Investors will then slowly adapt to the current situation, and the market will continue to rise.”
2023 Wall Street's “Most Promising Prophet” Says: Such Stocks Will Surge By At Least 50% This Year
Tom Lee, co-founder and head of research at the US investment agency Fundstrat Global Advisors, said that investors who focus on large stocks may miss out on the potential of a “more low-key corner” of the US stock market, and this corner will unleash huge returns in 2024. In his latest report released on Wednesday, he said, “Our first choice for 2024 is small-cap stocks, and we think these stocks have at least 50% room to rise.”
Bitcoin may skyrocket! Analysts say large-scale short rolling will impact the price by $100,000
Pav Hundal, chief analyst at cryptocurrency exchange Swyftx, predicts that a massive shorting could push Bitcoin's price to an unprecedented all-time high. He added that the price fluctuated more than expected, and if the market sees bears squeeze, the price of Bitcoin could rise straight to $80,000. One can even look forward to seeing the price of $100,000 at some point this year.
Komo warns: Russia's production cuts will push oil prices to a high of $100
J.P. Morgan's strategists recently warned that if there are no countermeasures to balance Russia's decision to cut production, Brent crude oil will rise to $100 per barrel this year. Natasha Kaneva, head of global commodity research at J.P. Morgan Chase, pointed out in the report that Russia decided at the beginning of this month to cut production by 471,000 barrels per day in the second quarter, which means Brent crude may test the $100 mark per barrel later this year.
Hot news
Star Technology's stock had mixed ups and downs before the market
Veteran investors sing that Tesla will become the market leader
Bradley Gerstner, CEO of Altimeter Capital, said betting on Musk, especially in the artificial intelligence era where he is building market-leading models, is a “no-brainer.” The US investor and hedge fund manager said he recently bought$Tesla (TSLA.US)$Shares, because “Tesla has the best product engineer and CEO in the world,” this CEO will lead the company to become a market leader.
Bernstein cuts Tesla price target: no hope for growth
Bernstein will$Tesla (TSLA.US)$The target price was lowered from $150 to $120, and it was pointed out that Tesla's overvaluation was unreasonable because its profit margin was comparable to that of its peers. More importantly, Tesla's growth has stalled, and there is currently no clear catalyst in sight to stimulate its future growth.
The “US version of Tieba” Reddit continued to drop nearly 4% before the market, and market bearish bets increased dramatically
According to data from analysis company Ortex,$Reddit (RDDT.US)$The listing attracted a large number of bearish bets against this social media forum. According to preliminary estimates, based on 2.15 million shares loaned by Reddit, at least 7.1% of the company's freely tradable shares were sold short. According to a report published by Hedgeye, Reddit's stock price is seriously overvalued, and its transaction price should be closer to its IPO price of $34, which means that the stock price needs to drop more than 40% from Wednesday's closing price. As of press time, Reddit continued to drop nearly 4% before the market.
Wedbush removes Netflix from “list of best investment choices”
Wedbush analyst Alicia Reese will$Netflix (NFLX.US)$Removed from the “Best Investment Choices List.” One reason for the removal is that although the number of users in the first and second quarters is expected to be higher than the same period last year, the growth rate has slowed compared to previous quarters. “We think Netflix's ability to beat investors' high expectations in the coming year will be even more challenged,” Reese wrote.
FDA approves its anemia drug, Akebia Therapeutics surges more than 21% ahead of market
The US Food and Drug Administration (FDA) approved it on Wednesday$Akebia Therapeutics (AKBA.US)$The drug vadadustat, which will be used to treat anemia due to chronic kidney disease (CKD) in dialysis patients. The regulator stated in the letter that Akebia could explore new studies to conduct a favorable benefit-risk assessment of the drug. As of press time, Akebia Therapeutics surged more than 21% in premarket.
With directors' stock holdings increased, Snowflake rose nearly 3% in the premarket
According to documents disclosed by the US Securities and Exchange Commission (SEC) on March 27,$Snowflake (SNOW.US)$Director Ramaswamy Sridhar increased his common stock holdings by 31,500,000 shares at an average price of US$1,5852 per share on March 25, worth approximately US$5 million. As of press time, Snowflake is up nearly 3% in the premarket.
Digital currency concept stocks collectively strengthened before the market
Focus on China Securities
Popular Chinese securities stocks generally rose before the market
Top 20 pre-market turnover of US stocks
US Stock Macro Calendar Reminder
13:45 US March Chicago PMI
22:00 US February Existing Home Contract Sales Index Monthly Rate/US March University of Michigan Consumer Confidence Index Final Value/US March 1-Year Inflation Rate Expectations
22:30 US EIA gas inventory for the week of March 22 (100 million cubic feet)
Total number of oil drills (ports) for the week from the US at 01:00 the next day to March 29
editor/tolk