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PCE data, US presidential candidate debate, and Nvidia shareholder meeting are coming this week!
After the unexpected decline of US CPI and PPI data in May, market participants will pay close attention to the May PCE data in the evening of June 28th at 8:30 pm Beijing time to find signs of further easing of inflation. The 81-year-old current President Biden will engage in the first presidential candidate debate with former President Trump, who has just turned 78 years old. The debate will be launched at 9 pm Eastern Time on June 27 (9 am Beijing Time on June 28). In addition, the Nvidia shareholder meeting will be held at 9 am Pacific Time on Thursday, June 26 (12 am Beijing Time on June 27).
To avoid escalating trade frictions, China and Europe have launched negotiations on car tariffs.
The Ministry of Commerce announced on the evening of the 22nd that Minister of Commerce Wang Wentao had a video call with Valdis Dombrovskis, Executive Vice President of the European Commission and Commissioner for Trade, on that day. The two sides agreed to hold talks on the EU's anti-subsidy investigation against China's electric cars. The EU also issued a statement on the same day, saying that Dombrovskis and Wang had “frank and constructive” talks on the EU's anti-subsidy investigation of electric cars produced in China and “agreed to make contacts based on facts and fully respect WTO rules.”
JPMorgan warns: mainstream ETF short position levels continue to decline, and US stocks face volatility risks.
JPMorgan analysts warned in their latest report that the market may face risks as short positions in major US ETFs such as SPY and QQQ continue to decline. With fewer and fewer investors betting on the market falling through short positions, JPMorgan is concerned that this trend has gone too far and formed a potential 'implicit short-term volatility trade' that may backfire. If negative news hits the market, this trend may quickly reverse, causing a sharp drop in stock prices.
There is an 89.7% probability that the Federal Reserve will maintain interest rates in August.
According to CME's "Fed Watch", the probability that the Fed will maintain interest rates in August is 89.7%, and the probability of a 25 basis point rate cut is 10.3%. The probability that the Fed will maintain interest rates in September is 35%, the probability of a cumulative 25 basis point rate cut is 58.7%, and the probability of a cumulative 50 basis point rate cut is 6.3%.
Citigroup, the 'largest short-seller' of oil prices: will fall to 60 next year.
Although oil prices have recently hovered around $80, Wall Street generally holds the view of “short-term optimism and long-term pessimism”. Citigroup released a stunning oil price forecast report, predicting that international oil prices will fall to the $60 range per barrel in 2025. This forecast highlights Citigroup's pessimistic view of the crude oil market, which is in sharp contrast to the strong demand and high oil prices in the current market. The bank expects global crude oil inventories to increase significantly next year, while global oil demand growth will slow down, and oil demand may peak before the end of this decade.
Standard Chartered raises Hang Seng's one-year target to 19500.
As 2024 is about to enter its second half, major banks have released their stock market outlooks. Standard Chartered's Wealth Solutions Chief Investment Office has raised Hang Seng's 12-month target price to 19500 points to reflect a series of measures to support the domestic property market. It is not ruled out that the Hang Seng's price range may move further up to 22000 points in response to policy factors, among other factors. Another foreign bank, Morgan Stanley, maintains its target price for Chinese stock market indexes, and expects the MSCI China Index and the CSI 300 Index to rebound in July and August.$CSI 300 Index (800122.HK)$According to Tokyo Stock Exchange data as of June 14, foreign investments have been net selling stocks for four consecutive weeks, marking the longest sell-off since September last year. Only on the week of June 14th, foreign investment net sold 250 billion yen (about 1.6 billion US dollars) of Japanese stocks. According to media reports on Sunday, Citigroup said that the Japanese stock market is facing significant callback risks; abrdn Plc and others are also becoming more pessimistic about the prospects of Japanese stocks; a fund manager survey by Bank of America showed that about one-third of respondents believe that Japanese stocks have peaked.
"Triple witching hour" finale: S&P 500 volume soars at the end of the day, Google and Microsoft hit new highs, and Nvidia falls nearly 7% in two days.
More than $5 trillion in derivatives expired in the last five trading days. The S&P and Nasdaq rebounded unsuccessfully and were dragged down by Nvidia for two days. The S&P 500 has risen for three consecutive weeks, the Nasdaq has almost turned negative for the week, and the Dow has risen for four consecutive weeks, with a weekly increase of nearly 1.5%, the largest in a month.
Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.
Most large-scale technology stocks have risen slightly, while Google and Microsoft hit new record highs; Nvidia has fallen nearly 7% since its high, with a total market value evaporation of about $222 billion in two days.
Line rises and falls on index funds;
up slightly$Alphabet-C (GOOG.US)$, $Amazon (AMZN.US)$, $Intel (INTC.US)$, $Netflix (NFLX.US)$Increased by more than 1%, $Microsoft (MSFT.US)$, $Tesla (TSLA.US)$; down slightly. Among them, Google and Microsoft hit new historical closing highs; Nvidia fell nearly 7% from its high, with a total market value evaporation of about $222 billion in two days.$NVIDIA (NVDA.US)$Dropped more than 3%, $Apple (AAPL.US)$, $Meta Platforms (META.US)$The most expensive shareholding reduction in history: Huang Renxun cashed out $79 million in five days, and Nvidia fell by $22.2 billion in two days.
In the past two trading days,
In the past two trading days, $NVIDIA (NVDA.US)$The market value evaporated $222 billion, a drop of 6.7%, equivalent to RMB 1.6 trillion. According to documents filed by Nvidia CEO Huang Jen-hsun (HUANG JEN HSUN) with the U.S. Securities and Exchange Commission (SEC) on June 20 in U.S. eastern time, he sold 120,000 shares of common stock on June 21, with a total value of about $15.1884 million calculated at the closing price. Since June 13, Huang has reduced his holdings by 600,000 shares over five trading days, cashing in more than $79 million, or more than RMB 570 million.
Tesla's total number of employees has shrunk by at least 14% this year, and previously Musk said layoffs would exceed 10%.
According to CNBC, from internal records and emails showing the recipient as "everyone," the number of employees (including temporary workers) as of June 17 was just over 121,000. As of December 31, 2023, Tesla employs a total of 140,473 people globally (including hourly and salaried workers). In April, Musk said that Tesla would lay off more than 10% of its workforce globally.$Tesla (TSLA.US)$Wedbush: Tesla has embarked on a path to return to a trillion-dollar market value. Dan Ives, a well-known "tech stock evangelist" and securities analyst at Wedbush, said last Friday that the next step, after Musk's salary dispute was settled, should be for the board of directors to push for an incentive plan that would increase Musk's stake to 25%, which would end the uncertainty about the company's AI prospects in recent months. Ives also noted that robotaxi for August 8 will be a key moment in Tesla's history and a catalyst for recent share prices. They believe that the key to reaching a market value of $1 trillion or more lies in the realization of the autonomous driving and FSD (full self-driving) vision.
Apple claims it cannot launch AI features in the European Union market this year.
Multiple media outlets cited a statement from Apple last Friday saying the company cannot release its personal intelligent system "Apple Intelligence," iPhone mirroring on Mac, and "SharePlay Screen Sharing" functionality in FaceTime calls to EU users this year. Apple blamed the EU's antitrust law, the Digital Market Act (DMA), for forcing it to lower the security of its products and services and bringing "uncertainty" to the company.$Tesla (TSLA.US)$U.S. prosecutors have recommended that senior officials at the Department of Justice bring criminal charges against Boeing after finding that the company violated settlement agreements related to two fatal crashes. The Department of Justice must decide by July 7 whether to prosecute Boeing. It is reported that internal deliberations within the Justice Department are still ongoing and no final decision has been made.
Eli Lilly announces it has applied to the U.S. for approval of its weight-loss drug Zepbound to treat the most common sleep-related breathing disorder, and regulators are expected to make a decision as early as the end of this year.
German automaker BMW said on Friday it will start production of all-electric vehicles at its Spartanburg, South Carolina, plant in the US in 2026, and plans to produce at least six electric cars at the plant by 2030. Full electric SUVs will start production at the factory by the end of 2026. The announcement comes after BMW said in 2022 it would invest $1.7 billion to retool the U.S. plant for domestic electric vehicle production.$Apple (AAPL.US)$Goldman Sachs reviews 618: Taobao and JD.com approach PDD in price, return rates rise, and algorithm upgrades monetize.
Amazon is reportedly launching an AI version of Alexa, charging $5 to $10 per month.
According to sources, $Amazon (AMZN.US)$It is planning a major overhaul of its voice assistant Alexa service, which has been losing money for a decade, by incorporating AI chatbots and offering two levels of service that charge $5 to $10 per month.
US prosecutors have recommended that the Justice Department bring criminal charges against Boeing for violating settlement agreements related to two fatal crashes.
On June 23, the US prosecutor discovered the United States.$Boeing (BA.US)$Northbound funds have rushed to build more than HKD 700 million of China Construction Bank, and increased their holdings of China Mobile by more than HKD 500 million.
Eli Lilly: Zepbound applies to FDA for the treatment of sleep apnea and is expected to be approved by the end of the year.
$Eli Lilly and Co (LLY.US)$Announced that it has applied to the United States for approval of its Zepbound weight loss drug for the treatment of the most common sleep-related breathing disorders. The regulatory agency is expected to make a decision as early as the end of this year.
BMW will produce fully electric autos at its US factory in 2026.
German automaker$BAYER MOTOREN WERK (BMWYY.US)$The company announced on Friday that it will begin production of electric vehicles at its Spartanburg, USA plant in 2026 and plans to produce at least six electric vehicles at the plant by 2030. The all-electric SUV model will begin production at the plant by the end of 2026. BMW announced in 2022 that it will invest $1.7 billion to renovate its US factory for domestic production of electric vehicles.
Goldman Sachs forecasts that this year's 618 industry's total GMV is expected to achieve low double-digit growth year-on-year. However, influenced by returns and order cancellations, the net GMV (i.e. the final actual transaction amount) is expected to increase only to the mid- to high-single-digit level.
Analysts at Goldman Sachs said on Friday that the board of directors should push for an incentive plan that would raise Musk's stake to 25%, which would end uncertainty about Tesla's prospects in artificial intelligence in the past few months. Dan Ives also noted that the robotaxi release on August 8 will be a critical moment for Tesla's history and a catalyst for recent stock prices. They believe that the key to achieving a market value of $1 trillion or more is the realization of the automated driving and FSD (fully self-driving) vision.
If you want to play this game, you must believe in yourself and your judgment.
BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.
Boeing's market value fell by 6.7%, or $22.2 billion, equivalent to RMB 1.6 trillion. According to documents filed by Nvidia with the U.S. Securities and Exchange Commission (SEC) on June 20, CEO Huang Jen-hsun sold 120,000 shares of common stock on June 21, with a total value of about $15.1884 million calculated by the closing price. From June 13 to now, Huang has reduced his holdings by 600,000 shares over five trading days, cashing in more than $79 million, or more than RMB 570 million.
On Friday, June 21st, southbound funds net bought HKD 4.578 billion in Hong Kong stocks.
$CCB (00939.HK)$, $CHINA MOBILE (00941.HK)$, $CNOOC (00883.HK)$Net bought 675 million Hong Kong dollars, 544 million Hong Kong dollars, and 398 million Hong Kong dollars respectively;
$YANKUANG ENERGY (01171.HK)$, $UNITEDENERGY GP (00467.HK)$Net sold 94.78 million Hong Kong dollars and 2.92 million Hong Kong dollars respectively.
On the 24th anniversary of HKEX's listing, its market cap has multiplied by 38 times.
On June 21st, Hong Kong Exchanges and Clearing Limited held a reception to celebrate its 24th anniversary. According to the disclosure, since 2000, the group has gradually developed into a leading global market operator and a major bridge connecting the mainland China with the international market. As of June 21st, 2024, the market capitalization of Hong Kong Stock Exchange has grown from HKD 8.6 billion in 2000 to HKD 326 billion, an increase of nearly 38 times.$HKEX (00388.HK)$Assuming that you only have one investment decision card that can be used for 20 holes, every investment you make will punch a hole in the card. Therefore, the number of times you can make investment decisions will also be reduced by one. If investors are really subject to such restrictions, then they will patiently wait for excellent investment opportunities to appear instead of making hasty decisions.
The international version of Honor of Kings has been launched in markets such as Southeast Asia, North America, Europe, Japan, South Korea, and Latin America.
$TENCENT (00700.HK)$Honor of Kings, a game under Tencent, has launched in Southeast Asia, North America, Europe, Japan, South Korea, Latin America and other markets, officially taking the first step towards globalization. After its launch, the game quickly topped the free charts of 12 countries and regions, such as Indonesia, the Philippines, North America, Canada, Australia, Peru, Malaysia, and Singapore. Since its first landing in Brazil in March 2023, Honor of Kings has successively launched in more than 50 regions such as the Middle East and North Africa, and is now available in multiple countries and regions, such as North America and Europe.
The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.
Keywords: Dallas Federal Reserve business activity index; summary of monetary policy meeting of the Bank of Japan.
On Monday, economic data will be released, including the Dallas Fed's business activity index and manufacturing employment index, among others.
In terms of financial events, the Bank of Japan releases the summary of its June monetary policy meeting.
Futubull Morning News:
"If you are an investor and have only one card that can be used for 20 holes, every investment you make will punch a hole in the card. Therefore, the number of times you can make investment decisions will also be reduced by one. If investors are really subject to such restrictions, then they will patiently wait for excellent investment opportunities to appear instead of making hasty decisions." -Warren Buffett
- Warren Buffett
Editor/Emily