Global macroscopic
Before Friday's market, the three major indices are rising in a straight line
The US core PCE price index rose 0.2% month-on-month in April, a new low since December 2023. The estimated value was 0.3%, the previous value was 0.3%; the US April core PCE price index rose 2.8% year on year, estimated at 2.8%, and the previous value was 2.8%. As of press release, the three major indices are rising.
Unrivaled! The “Big Six” account for 30% of the weight in the S&P 500 index
According to data compiled by the media, Microsoft, Apple, Nvidia, Google parent companies Alphabet, Amazon, and Meta currently account for about 30% of the total weight of the S&P 500 index. This figure is higher than about 26% at the beginning of the year. The S&P 500 index is weighted by stock market value.
Cleveland Fed economist warns: inflation back to 2% or it will take 3 years
According to a Cleveland Federal Reserve study, inflation may not return to the 2% target set by the Federal Reserve until mid-2027. Cleveland Federal Reserve economists said that this is because most of the effects of inflation caused by the impact of the pandemic have been resolved, and the remaining factors that keep inflation high at present are “very stubborn.”
J.P. Morgan: Watch out! US liquidity begins to dry up
Analysts at J.P. Morgan Chase said that with the Federal Reserve implementing quantitative easing policies and slowing bank lending, the liquidity in the US financial market is drying up. Since the end of March 2024, the US money supply is estimated to have shrunk by about $200 billion. There are three main factors contributing to this phenomenon: the Federal Reserve's continued quantitative austerity policy, increased use of the Federal Reserve's reverse repurchase mechanism, and a slowdown in Bank of America loan growth.
AI is in high demand for electricity! US delays closing old thermal power plants
Demand for electricity in the US has increased dramatically due to the rapid development of artificial intelligence technology, which has forced the government to delay plans to decommission old coal-fired power plants. S&P Global Commodity Insights predicts that by the end of this decade, 54 gigawatts of coal power generation assets will be decommissioned in the US, accounting for about 4% of total power generation capacity. This estimate is 40% lower than last year due to concerns about grid reliability.
Hot news
Star tech stocks had mixed ups and downs before Friday's market
Tesla fell slightly before the market, and the company recalled 125,227 US vehicles
US National Highway Traffic Safety Administration:$Tesla (TSLA.US)$125,227 US vehicles were recalled because seat belt warning systems failed to remind passengers to wear seat belts, which could increase the risk of injury in accidents. Tesla will release an OTA software update to address the seat belt warning issue. As of press time, Tesla fell slightly before the market.
Dell Technology's total revenue for the first fiscal quarter was higher than expected, but adjusted operating profit fell short of expectations
$Dell Technologies (DELL.US)$Adjusted earnings per share for the first fiscal quarter were $1.27, and analysts expected $1.23; total revenue for the first fiscal quarter was US$22.24 billion, up 6% year over year; analysts expected US$21.62 billion; adjusted operating profit for the first fiscal quarter was US$1.47 billion, and analysts expected US$1.48 billion. As of press time, Dell had a sharp drop of more than 16% before the market.
Maywell Technology fell more than 5% before the market, and Q1 revenue fell 12% year over year and losses widened
American chipmaker$Marvell Technology (MRVL.US)$US stocks fell more than 5% before the market. Goldman Sachs announced first-quarter results. Revenue was 1.16 billion US dollars, down 12% year on year, but slightly higher than the company's forecast and analysts' expectations of 1.15 billion US dollars; the loss per share was 0.25 US dollars, up from 0.2 US dollars in the same period last year, and worse than the loss of 0.22 US dollars per share expected by the market.
Zscaler rose more than 15% before the market, and strong demand drove Q3 results to exceed guidelines and market expectations+increase annual guidance
Cybersecurity provider US stock premarket$Zscaler (ZS.US)$Up more than 15%, the company announced results for the third fiscal quarter ending April 30. Revenue was US$553.2 million, up 32% year over year, higher than the company's guidance range of US$534 million to US$536 million and analysts' expectations of US$536 million; adjusted earnings per share were US$0.88, far higher than the guidance range of US$0.64 to US$0.65, and analysts' expectations of US$0.65. Zscaler raised its revenue guidance for FY2024. The estimated revenue will be between $2.14 billion and $2,142 billion, compared to the previous forecast of $2,118 billion to $2,122 million.
Faraday's future pre-market surge of nearly 15%, and Jia Yueting clarified that “FF will never be profitable”
$Faraday Future Intelligent Electric Inc. (FFIE.US)$Today's pre-market surge was close to 15% again. According to the news, Jia Yueting released a video clarifying the misunderstandings and rumors caused by the “Risk Warning Disclosure” of the 2023 financial report, stating that “Jia Yueting and FF acknowledge that the company will never be profitable” is completely untrue.
Focus on China Securities
Most of the popular Chinese securities stocks fell before the market
Top 20 pre-market turnover of US stocks
US Stock Macro Calendar Reminder
(The following are all Beijing time)
13:45 US May Chicago PMI
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Editor/Somer