Hot news

• The “Federal Reserve Speaker” sent a signal before the meeting: even if interest rates are cut, the days of ultra-low interest rates are over

“Federal Reserve microphone” Nick Timiraos recently wrote that speculations about rising neutral interest rates have left the Fed even less reason to cut interest rates. Neutral interest rates, sometimes called “r*” or “r-star,” five years ago, after the Federal Reserve raised the benchmark federal funds rate to 2.4%, officials saw signs of weak economic growth and inflation, so they began to lower interest rates. This means that the neutral interest rate must be around this level, or even lower. If the US economy continues to be strong and inflation is stubborn, it may trigger market speculation that neutral interest rates will rise, leading to the belief that current interest rates are not that tight. From this perspective, there is no reason for the Federal Reserve to cut interest rates. Even if interest rates are cut, the days of ultra-low interest rates will come to an end.

• Is the Federal Reserve's nightmare here? UBS warns: the US faces the risk of stagflation, and the market is far from ready

On Thursday EST, a new report released by the US Department of Commerce showed that US GDP growth slowed sharply in the first quarter, while some inflation indicators were quietly rising. UBS warned in a recent report that the latest economic data released by the US indicates that the US may be facing the risk of stagnation. What's more serious is that neither policy makers nor the market seem to have prepared ahead of time for this scenario.

• Is the US mired in “stagflation” concerns? Citi insists the Federal Reserve will cut interest rates in the summer

The US GDP growth rate for the first quarter fell short of expectations, and the March core PCE price index released on Friday also exceeded expectations, causing the market to worry that the US economy may enter stagflation. However, Citi still believes that the pricing of the market completely phasing out interest rate cuts this year is wrong, because concerns about slowing growth will be a key factor for the Federal Reserve to consider cutting interest rates, and details of GDP for the first quarter show that support for fiscal stimulus is weakening, and commodity spending is also weak. Therefore, Citi believes that although inflation has not continued to slow, the Federal Reserve will cut interest rates this summer.

• The US government set up an AI security committee. The members include executives from tech giants such as Hwang In-hoon and Altman

According to the latest news, tech giant executives such as Nvidia CEO Hwang In-hoon, OpenAI CEO Sam Ultrman, Microsoft CEO Nadella, and Google parent company Alphabet CEO Pichay will join a new US federal advisory committee, the AI Security Council. The committee's work focuses on the safe use of artificial intelligence in critical US infrastructure.

• The 71-day buying trend is over! BlackRock's Bitcoin ETF net inflow “returns to zero” highlights weak sentiment

On Thursday, BlackRock's IBIT fund had zero net capital inflows for two consecutive days. Previously, the fund had maintained a net inflow of capital for 71 consecutive days. FBTC, on the other hand, had its first net outflow in a single day, with an outflow of US$22.6 million, indicating a declining trend in investors' interest in Bitcoin ETFs. In addition, the other 5 Bitcoin ETFs have all experienced net outflows of capital in a single day. Among them, Grayscale's GBTC fund outflows were the largest, reaching a total of US$17.1 billion as of Thursday.

Resumption of US stock trading

• Both the S&P and NASDAQ recorded their biggest weekly gains since November last year. Google's performance soared 10% after that, and Nvidia rose more than 6%

By Friday's close, the S&P 500 was up 1.02%, the NASDAQ was up 2.03%, and the Dow Jones Industrial Average was up 0.4%. In terms of performance throughout the week, the S&P 500 index rose 2.67% cumulatively, and the NASDAQ rose 4.23%, ending “three consecutive declines” and “four consecutive declines” at the weekly level, respectively. Both indices recorded their biggest weekly gains since November last year.

Among the “Big Seven” of technology, Apple fell 0.35%, Microsoft rose 1.82%, Amazon rose 3.43%, META rose 0.43%, Google-A rose 10.22%, Tesla fell 1.11%, and Nvidia rose 6.18%.

The Nasdaq China Golden Dragon Index rose 2.45% last Friday, with a cumulative increase of nearly 9% throughout the week. Alibaba rose 0.59%, Tencent ADR rose 2.19%, Pinduoduo rose 2.8%, JD rose 6.12%, NIO rose 8.72%, Ideal Auto rose 6.69%, and Xiaopeng Motor rose 10.73%.

• A different kind of investment opportunity in the AI boom: under the surge in demand for electricity, utility stocks have become an alternative

Investors looking for unique ways to invest amidst the artificial intelligence boom in the stock market have found an interesting investment opportunity — the most traditional utility stocks. In connection with the wave of artificial intelligence, utility companies are energy providers, and artificial intelligence technology often requires large amounts of energy to develop and operate. As businesses spend more money on data centers, electricity consumption will increase dramatically.

• Musk's sudden visit to China! Or seek Tesla FSD to enter China

On the afternoon of the 28th$Tesla (TSLA.US)$CEO Elon Musk arrives in Beijing. The report said that Musk is seeking to meet with senior Chinese officials to discuss the launch of fully automated driving (FSD) software in China. Various brokerage firms have determined that this may greatly enhance consumer awareness, promote the penetration of advanced intelligent driving in China, and trigger the “pangasius effect” in the field of intelligent driving in China.

• US regulators release summary report on Tesla Autopilot investigation

The US National Highway Traffic Safety Administration (NHTSA) released an investigation report on Tesla's Autopilot system on Friday. NHTSA believes there is a “critical safety gap” between drivers' ability expectations of the Tesla Autopilot system and the actual capabilities of the system, leading to “predictable misuse and avoidable collisions.” The department also said it will launch a new investigation into the effectiveness of the software upgrade carried out by Tesla at the end of last year.

• Apple Vision Pro sales are worrisome, and the price is heavily discounted on second-hand platforms

Unlike the hectic atmosphere that was crowded at the beginning of February, now there are many$Apple (AAPL.US)$Retail stores have reached the point where they can't sell a few units in a week. The US second-hand trading platform eBay shows that Vision Pro, which has been on sale for less than 3 months, is clearly discounted. A 1TB version of Vision Pro with $500 Apple Care+ and a $200 original travel case sold on eBay for $3,200, at a discount of nearly $1,400.

• Berkshire buys Liberty SiriusXM

The file shows,$Berkshire Hathaway-A (BRK.A.US)$Liberty SiriusXM's Class A shares and Class C shares were increased for three days this Wednesday, Thursday, and Friday, respectively. Class A shares$Liberty SiriusXM Series A (LSXMA.US)$The holdings were increased by 500,000 shares, and the price was between $24.42 and $25.21; Class C shares$Liberty SiriusXM Series C (LSXMK.US)$The holdings were increased by 64,7016 shares, and the price was between 24.33 and 25.16 US dollars. In total, it cost more than $28 million. According to information, LSXMA and LSXMK are tracking shares issued by US media giant Liberty Media Group for 84% of its satellite broadcasting giant SiriusXM.

• BHP Billiton is bound to win? Consider increasing the acquisition offer for British and American resources

in$BHP Group Ltd (BHP.US)$To the beginning$ANGLO AMERI PLC (NGLOY.US)$After the proposed $39 billion takeover offer was rejected, according to a source familiar with the situation, BHP Billiton is considering making a higher offer. The source said that BHP Billiton is discussing a revised offer for Anglo-American Resources Group in the next few weeks. The review is still ongoing, and the group has yet to decide on the size and structure of the new proposal.

• FDA Approves Pfizer Hemophilia Gene Therapy

American pharmaceutical giant$Pfizer (PFE.US)$It was announced that the US Food and Drug Administration (FDA) has approved Beqvez, a gene therapy from the company to treat hemophilia. For adults with moderate to severe hemophilia B. Beqvez is a one-off treatment that enables patients to produce clotting factor IX and prevent bleeding. Pfizer said that without insurance and other discounts, the price of each dose is as high as 3.5 million US dollars, making it one of the most expensive drugs in the US so far.

• IBM signs semiconductor industry cooperation agreements with the Canadian Government and the Government of Québec

$IBM Corp (IBM.US)$The Canadian government and the Québec provincial government announced an agreement on Friday local time to strengthen Canada's semiconductor industry and further develop semiconductor module assembly, testing and packaging capabilities. These modules will be widely used in fields such as telecommunications, high-performance computing, automotive, aerospace and defense, computer networks, and generative AI. The agreement reflects a total investment worth approximately $187 million.

• Republic Ten Thousand Link Financial Holdings became the first bank of the United States to go bankrupt this year

Following the close of trading on Friday, the US Federal Deposit Insurance Corporation (FDIC) announced the closure of the troubled one on Friday$Republic First Bancorp (FRBK.US)$In the announcement, regulators also called it the first bank of America to go bankrupt this year. The FDIC also announced that it has reached an agreement with Fulton Bank to take over Republic First Bancorp's deposits and purchase almost all assets.

Top 20 US stock turnover

Hong Kong Market Outlook

• Beishui once again increased its holdings of the Bank of China by nearly HK$900 million, leaving Meituan by nearly HK$800 million

On April 26 (last Friday), Southbound made a net purchase of HK$1,174 billion in Hong Kong stocks.

$BANK OF CHINA (03988.HK)$,$KUAISHOU-W (01024.HK)$,$HKEX (00388.HK)$Received net purchases of HK$888 million, HK$500 million and HK$117 million respectively;

$MEITUAN-W (03690.HK)$,$HSBC HOLDINGS (00005.HK)$,$TRACKER FUND OF HONG KONG (02800.HK)$Net sales were HK$760 million, HK$344 million and HK$243 million respectively.

Today's attention

Keywords：Japanese stock market closure; BYD stock financial report

On Monday, in terms of economic data, the Dallas Federal Reserve Business Activity Index will be released.

In terms of major financial reports,$BYD COMPANY (01211.HK)$Financial reports will be published.

The Japanese stock market is closed for one day.

Futubull Chen read:

Get involved only in stocks that are actively traded, and avoid those that move slowly and seldom traded.
—William Gann

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