Hot news

• Trump's odds of winning the election jumped again after the attack! Musk "fully supports" him.

The terrible shooting incident that occurred at the campaign rally held by U.S. Republican presidential candidate Trump in Pennsylvania on Saturday is likely to be a key moment that completely overturns the pattern of this year's U.S. election. After the latest attack, some gambling data has shown that Trump's chances of winning have soared to 70%. In addition, Musk has posted 5 or 6 tweets in a row on social media over the weekend to show his full support for Trump in response to the shooting incident.

• The global market is accelerating the "Trump Trade" and Bitcoin is back above 60,000 US dollars.

After Trump's attack, it is likely to rekindle the recent series of "Trump Trades" on the global market. After news of Trump's attack, the price of Bitcoin, which is regarded by the industry as one of the "Trump Trades", quickly rose above $60,000, with the latest quote at $61,153. The former president has claimed to support cryptos.

• Last week, the Federal Reserve issued the clearest "rate cut signal" to date.

In public appearances last week, including two hearings before Congress by Powell, Federal Reserve officials spoke with unprecedented confidence about their control of inflation and their determination to change monetary policy. Although the Fed did not specify when or to what extent it would cut borrowing costs, their comments made it clear that the era of rate cuts is coming. Traders and economists generally expect the first rate cut to occur in September.

• Regaining the full-year decline, could the US Treasury Bond completely turn around?

June's CPI and PPI in the United States have triggered a bullish sentiment in the market on the downside of inflation, with the US Treasury Bond Index up 0.3%, its first positive return this year. The trend of a steepening yield curve is obvious, with the yield on two-year Treasury bonds falling as much as 15 basis points to 4.45%, the lowest level since March.

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• The three major indices rose together, with the Dow Jones Industrial Average returning above the 40,000-point mark and the Jinlong Index rising 4% for the week, outstripping the large-cap market.

On Friday, the three major indices of US stocks collectively closed higher. At the close, the Dow Jones Industrial Average rose 0.62% to 40,000.90 points, less than 3 points away from the historic high of 40,003.59 points two months ago. The S&P 500 rose 0.55% to 5,615.35 points; the Nasdaq Composite Index rose 0.63% to 18,398.45 points.

Large-cap technology stocks rose and fell unevenly, with Tesla up 2.99%, Nvidia up 1.44%, and Apple up 1.31%, with a market cap back above $3.5 trillion. Microsoft fell 0.25%, Google C fell 0.28%, Amazon fell 0.29%, and Meta fell 2.70%.

Regarding Chinese concept stocks, the Nasdaq China Golden Dragon Index rose 0.60% this week, up 4.15%. Among the popular Chinese concept stocks, NIO rose 4.06%, Pinduoduo rose 2.28%, XPeng rose 1.73%, Alibaba rose 1.44%, Li Auto fell 0.75%, and Bilibili fell 5.16%.

• Tesla rose nearly 3% and received a target price increase from Citigroup to $274.

$Tesla (TSLA.US)$It closed up nearly 3% at $248.23, with a total market value of $791.654 billion. Tesla had previously planned to postpone the release of Robotaxi from August to October. In addition, UBS downgraded Tesla from neutral to sell, but Citigroup Group raised Tesla's target price from $182 to $274.

• Super Micro Computer will replace Walgreens Boots Alliance to become a Nasdaq 100 constituent stock.

Nasdaq announced that before the opening on July 22nd$Super Micro Computer (SMCI.US)$it will replace$Walgreens Boots Alliance (WBA.US)$Walgreens Boots Alliance and enter the Nasdaq 100 index.

• Bank of New York Mellon rose more than 5% to a record high, with Q2 earnings exceeding expectations.

$Bank of New York Mellon (BK.US)$It rose more than 5% to $64.74, a new high. The New York Mellon Bank's financial report showed an adjusted EPS of $1.51 for the second quarter, exceeding the market's expected $1.43; sales of $4.597 billion, exceeding the market's expected $4.523 billion; net interest income of $1.03 billion, exceeding the market's expected $1.01 billion.

• Wells Fargo fell more than 6%, with Q2 net interest income below expectations.

$Wells Fargo & Co (WFC.US)$Falling more than 6%, trading at $56.54. Wells Fargo & Co's financial report shows Q2 revenue of $20.69 billion, exceeding the market's expected $20.29 billion; earnings per share of $1.33, exceeding the market's expected $1.29.

Net interest income for the quarter was $11.92 billion, down 9% year-on-year and lower than analysts' expected $12.12 billion. Net interest income is a key indicator for measuring bank lending income. Wells Fargo & Co. explained that the decline in net interest income was due to the impact of rising interest rates on financing costs.

• Up 12%! Legend Biotech received a merger invitation, or it will create a new record of Chinese biotech acquisition amount.

On July 12, 2024, according to Seekingalpha website,$Legend Biotech (LEGN.US)$Confirmed the receipt of the acquisition request and hired Centerview Partners, a top investment bank, to help the board of directors evaluate this acquisition invitation and other options. This news pushed the company's share price up 12%, with a market cap of $9.9 billion. If the acquisition goes smoothly, the billion-dollar level of the acquisition will create a new record for Chinese biotech companies being acquired.

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.

• Northbound funds scramble to buy Industrial and Commercial Bank of China for nearly HKD 0.5 billion, and sell Meituan and Tencent for about HKD 0.3 billion each.

On July 12th (Friday), southbound funds net bought HKD 0.171 billion in Hong Kong stocks.

$ICBC (01398.HK)$,$XIAOMI-W (01810.HK)$,$SUNNY OPTICAL (02382.HK)$Received net purchase of HKD 0.495 billion, HKD 0.208 billion, and HKD 13.85 million respectively;

$MEITUAN-W (03690.HK)$,$CNOOC (00883.HK)$,$TENCENT (00700.HK)$Received net sales of HKD 0.324 billion, HKD 0.273 billion, and HKD 0.257 billion respectively.

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: China's Q2 GDP Annual Rate; Goldman Sachs, BlackRock's performance; Japanese stock market holiday.

On Monday, the National Bureau of Statistics will release China's Q2 GDP annual rate, June's YoY social consumer goods retail sales, and June's scale-above industrial added value YoY and other economic data; the New York Fed Manufacturing Index for July will be released in the U.S.

In terms of financial events, the National Bureau of Statistics will release monthly reports on housing sales prices in 70 large and medium-sized cities. The Third Plenary Session of the Twentieth Central Committee will be held in Beijing from today until the 18th.

Regarding financial reports,$Goldman Sachs (GS.US)$,$Blackrock (BLK.US)$The financial report will be released before the pre-market trading in the U.S.

In addition, the Tokyo Stock Exchange in Japan will be closed for one day due to Marine Day on Monday.

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