Hot news

• Hopes for interest rate cuts have plummeted! Powell: High interest rates may need to be maintained longer

On Tuesday local time in the US, Federal Reserve Chairman Powell said that recent data shows a lack of further progress in inflation, and it may take longer to have confidence in inflation, so it may be appropriate for a high interest rate policy to work for a longer period of time. According to the “New Federal Reserve News Agency,” the Fed's outlook has clearly changed, which seems to have broken their hopes that they may “pre-emptively” cut interest rates.

• Federal Reserve Vice Chairman: If inflation slows down and stagnates, interest rates will remain high for a longer period of time

Federal Reserve Vice Chairman Philip Jefferson said on Tuesday that if US inflation does not slow as expected, the most important central bank in the global financial system will be prepared to keep its tight monetary policy unchanged. Jefferson believes that although the inflation rate has slowed sharply over the past year, the bank is facing strong economic fundamentals, and there has been little significant progress in prices recently.

• The IMF raised its global economic growth forecast for this year, and it is expected that major central banks will cut interest rates in the second half of the year

The International Monetary Fund (IMF) raised its expectations for the global economy this year and predicts that as inflation falls, global central banks will start cutting interest rates in the second half of this year. The IMF expects the global economy to grow by 3.2% this year, a slight increase from the 3.1% forecast in January, which is comparable to the 3.2% economic growth rate last year.

• The number of new home starts in the US unexpectedly plummeted in March, the biggest monthly decline since the pandemic

The US real estate market has experienced roller coaster ups and downs in recent months, and the latest data released today once again “surprised” the market. Following a sharp 10.7% increase in new home starts in February, March data showed a 14.7% month-on-month decline, far below the 2.4% decline expected by the market, the biggest monthly decline since the lockdown measures during the COVID-19 pandemic.

Resumption of US stock trading

• The NASDAQ and S&P fell three times in a row, and Tesla fell nearly 3% with a market capitalization of less than 500 billion US dollars

The three major US stock indices closed with mixed gains and losses. By the close, the Dow Jones index had risen 0.17% to 37,798.97 points, ending six consecutive daily losses; the S&P 500 index fell 0.21% to 5,051.41 points; and the Nasdaq Composite Index fell 0.12% to 15,865.25 points, both falling for three consecutive days.

Popular technology stocks had mixed ups and downs. Nvidia rose nearly 2%, Tesla fell nearly 3%, had a market capitalization of less than 500 billion US dollars, and Apple fell nearly 2%.

Computer hardware, semiconductor equipment, and materials rose the highest. Ultramicrocomputers rose more than 10%, Kangte Technology rose more than 6%, and Asmack, Klei, and Dell Technologies rose more than 2%.

Most popular Chinese securities fell, and the Nasdaq China Golden Dragon Index fell 1.27%. Bilibili and NIO fell more than 2%, NetEase, Alibaba, and JD fell more than 1%, and Xiaopeng Motors, Ideal Auto, Pinduoduo, and Baidu fell slightly.

• The market capitalization fell below 500 billion dollars! Tesla continues to fall, layoffs increase Wall Street concerns

On Tuesday EST,$Tesla (TSLA.US)$It closed down nearly 3%, which also extended its decline since this year to an astonishing 37%. The market capitalization fell below 500 billion US dollars, and now it is 499.44 billion US dollars. Generally speaking, after related companies lay off employees, stock prices tend to rise sharply because Wall Street will be satisfied with the prospects of improving efficiency and profits, but this time investors don't view Tesla that way.

• AMD Unveils Next-Generation AI PC Chips

$Advanced Micro Devices (AMD.US)$A new processor has been introduced to drive AI PCs in an attempt to get ahead of the competition with Nvidia and Intel. It is reported that these new AMD chips will support PC models from brands including HP and Lenovo starting in the second quarter of 2024. By the close, AMD was up nearly 2%.

• Ultramicrocomputers rose more than 10%, and institutions raised their target price sharply to 1,500 US dollars

Loop Capital analyst Ananda Baruah will$Super Micro Computer (SMCI.US)$The target price was raised sharply from $600 to $1,500, and the “buy” rating was maintained.

• Microsoft will invest US$1.5 billion in UAE AI startup G42 to win a seat on the board

$Microsoft (MSFT.US)$It was announced on Tuesday that it will invest $1.5 billion in G42, the UAE's top artificial intelligence company. As part of the agreement, Microsoft President Brad Smith will join G42's board of directors, and G42's AI applications will use Microsoft Azure cloud services.

• DeepMind CEO: Google will invest more than $100 billion in artificial intelligence

$Alphabet-A (GOOGL.US)$/$Alphabet-C (GOOG.US)$Demis Hassabis, CEO of DeepMind, its AI research division, said a few days ago that over time, Google will spend more than 100 billion US dollars to develop artificial intelligence technology. Hassabis said that Google has more powerful computing power than rivals such as Microsoft. “This is one of the reasons we partnered with Google in 2014 because we know that in order to achieve general artificial intelligence, we need a lot of computing power.”

Top 20 US stock turnover

Hong Kong Market Outlook

• Beishui added nearly HK$800 million to buy CNPC over HK$600 million

On April 16 (Tuesday), Southbound made a net purchase of HK$9.877 billion in Hong Kong stocks.

$TRACKER FUND OF HONG KONG (02800.HK)$,$TENCENT (00700.HK)$,$PETROCHINA (00857.HK)$Received net purchases of HK$2,678 million, HK$775 million and HK$639 million respectively;

$ANTA SPORTS (02020.HK)$,$MEITUAN-W (03690.HK)$,$KUAISHOU-W (01024.HK)$Net sales were HK$310 million, HK$293 million, and HK$905 million respectively.

Today's attention

Keywords: Asmail/Abbott performance

On Wednesday, in terms of economic data, the US will release EIA crude oil inventories and strategic oil reserve inventories for the week up to April 12.

In terms of financial reports, US stocks$ASML Holding (ASML.US)$,$Abbott Laboratories (ABT.US)$Results will be announced before the market.

Futubull Chen read:

For me, investing is both a sport and a form of entertainment.

—Warren Buffett

editor/tolk