Hot news

• The US Treasury unexpectedly raised borrowing expectations for the second quarter

To Wall Street's surprise, the US Treasury not only did not cut, but instead sharply raised the expected size of loans this quarter. The Ministry of Finance raised the expected size of net borrowing for the second quarter by 20% to US$243 billion, and is expected to triple to US$847 billion in the third quarter; the Treasury account TAG cash balance is expected to remain unchanged at US$750 billion at the end of the second quarter, rising to US$850 billion at the end of the third quarter, suggesting that actual capital requirements for the third quarter were lower than Wall Street expectations.

• Goldman Sachs: Hedge fund technology stock buying power last week was the biggest in more than a year

Goldman Sachs's brokerage business data shows that judging from last week's situation, hedge funds considered “smart money” have not lost their risk appetite for technology stocks. This group snapped up technology stocks at the fastest speed in over a year, and net purchases of technology stocks were the largest since December 2022, mainly driven by an increase in long positions and short compensation. This is also the fourth consecutive week that hedge funds have made net purchases of technology stocks.

• Goldman Sachs warns: if interest rates continue to rise sharply, US stocks will be in big trouble

Goldman Sachs analyst David Kostin, who had always been optimistic and optimistic until now, showed a clear cautious attitude in his recently published weekly report. He anticipates that if interest rates continue to rise sharply, “it will be difficult for stocks to find a foothold,” regardless of macro drivers. In other words, if the latest “VaR shock” of US debt accelerates, even the AI narrative that currently supports the market will collapse because it cannot withstand the peak of all market pressure.

• J.P. Morgan strategist Kolanovic is worried that the US stock market will repeat last summer's decline

Marko Kolanovic, chief market strategist at J.P. Morgan Chase, said that the US stock market may repeat the late-summer slump that began in August last year. The outlook for long-term high interest rates will put pressure on economic growth and pose a risk to the rise in the stock market this year. Kolanovic said that the rise in big tech companies has overshadowed investors' concerns about interest rates, which seem to remain higher for a longer period of time.

• G7 to agree to phase out coal by early 2030s

The UK Energy and Nuclear Secretary said on Monday that the Group of Seven (G7) has agreed to phase out coal by the early 2030s, which is a key milestone for the world's most industrialized economies seeking to switch to more sustainable fuels. The United States, Britain, Germany, France, Canada, Japan, and Italy agreed on this date after talks hosted by Italy on Monday, but the information has not been officially confirmed by Italy.

Resumption of US stock trading

• The three major indices closed up slightly. Tesla rose more than 15%, and its market capitalization surged by more than 80 billion US dollars

On Monday EST, the three major US stock indices all closed slightly higher, with Tesla and Apple leading the way. Investors focused on the Federal Reserve's interest rate decision and the financial reports of some major technology companies. By the close, the Dow was up 0.39%, the NASDAQ was up 0.35%, and the S&P 500 was up 0.32%.

Major technology stocks had mixed ups and downs. Nvidia rose slightly by 0.03%, Amazon rose 0.75%; Google A fell more than 3%, Meta fell more than 2%, Apple rose about 2.5%, Intel and Microsoft fell more than 1%, and Netflix fell slightly. Tesla rose 15.39% to a new intraday high since March 4, and its market capitalization increased by US$82.2 billion.

Most popular Chinese securities rose, and the Nasdaq China Golden Dragon Index rose 0.54%. Ideal Auto rose more than 7%, Baidu rose more than 5%, Xiaopeng Motor rose more than 3%, NIO rose more than 2%, Bilibili, Alibaba, iQiyi, and Vipshop rose more than 1%; Pinduoduo and JD fell more than 1%.

• Musk “beating” the bears? Tesla shorters lost $5.5 billion in four days

According to data from financial analysis firm S3 Partners, since$Tesla (TSLA.US)$Investors who have shorted the company have lost 5.5 billion dollars in just four trading days since promising to speed up the launch of affordable models. Tesla has experienced large-scale layoffs, executive turnover, and product price cuts in the past week. It can be described as turbulent, but Musk's promise to speed up the launch of affordable models has allayed investors' concerns about a slowdown in growth. Overnight, Tesla rose more than 15%.

• Gulman broke the news that Apple's “hard work” is coming! M4 chip may be unveiled in the new iPad Pro

reputed$Apple (AAPL.US)$Whistleblower Mark Gurman said there is news that Apple may release the M4 chip next week and position the new iPad Pro equipped with the chip as the first “device truly driven by artificial intelligence (AI).” Gurman added that after launching the iPad Pro before the June Global Developers Conference, it is worth paying attention to how Apple will use iPadOS 18 to advance AI software and services.

• Google faces a class action lawsuit over copyright infringement involving the Iagen AI model

$Alphabet-A (GOOGL.US)$Facing a class-action lawsuit filed by three cartoonists and a photographer, they say Google's Imagen AI software model, which trains billions of works, violates copyright laws. According to a lawsuit filed with the U.S. District Court for the Northern District of California, Imagen is a text-to-image artificial intelligence model whose training involves copying billions of images.

• Confirmed to be involved in two fatal accidents, US regulators launched a preliminary investigation into Ford's “driverless driving system”

According to US media reports, documents released on its official website by the National Highway Traffic Safety Administration, the highest regulator of the US automobile industry on Monday showed that due to confirmation of two fatal accidents, the agency began investigating last week$Ford Motor (F.US)$A preliminary investigation can be initiated with the BlueCruise driving system that “takes both hands off the steering wheel.”

• Turkish Airlines is in talks with Airbus and Boeing to buy 235 aircraft

Turkish Airlines Chairman Ahmet Bolat said on Monday that the company is working with Airbus and$Boeing (BA.US)$Negotiated the purchase of 235 aircraft as part of its expansion plans. The airline's 10-year fleet plan announced last year shows that it aims to expand nearly 600 aircraft.

Top 20 US stock turnover

Hong Kong Market Outlook

• Beishui Sweep China sold nearly HK$1.6 billion and sold Meituan for nearly HK$1.1 billion

On April 29 (Monday), Southbound made a net purchase of HK$2,753 billion in Hong Kong stocks.

$BANK OF CHINA (03988.HK)$,$SENSETIME-W (00020.HK)$,$SUNAC (01918.HK)$Received net purchases of HK$1,583 million, HK$372 million and HK$204 million respectively;

$MEITUAN-W (03690.HK)$,$CHINA MOBILE (00941.HK)$,$TENCENT (00700.HK)$Net sales were HK$1,067 million, HK$606 million and HK$332 million respectively.

Today's attention

Keywords: China's official manufacturing PMI, Caixin manufacturing PMI; AMD, Amazon, ultra-microcomputer financial report

On Tuesday, in terms of economic data, China's official manufacturing PMI and Caixin manufacturing PMI will be announced.

In terms of major financial reports,$Amazon (AMZN.US)$,$Advanced Micro Devices (AMD.US)$,$Super Micro Computer (SMCI.US)$Other companies will release financial reports after the market today EST.

Futubull Chen read:

Don't buy it all at once; arrogance is a sin.
—William Gann

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