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Hot news
Biden withdraws, “Trump deal” cools down! Traders are betting again on US election concept stocks
US President Joe Biden's decision to withdraw from the election and support Kamala Harris prompted traders to evaluate and adjust their bets on various sectors. Stocks that performed better are expected to rise after the Democrats win, and the “Trump deal,” which will benefit from the Republican Party's victory, will be impacted. Renewable energy and photovoltaic companies, electric vehicle manufacturers, and cannabis stocks rose, while stocks in oil and gas, finance and healthcare declined. Analysts pointed out, “We think this decision will reset the election and reduce the certainty that Trump will win.”
The Ethereum Spot ETF is coming on Tuesday, and the US SEC approves applications from BlackRock and many other companies
On Monday, July 22, EST, according to regulatory documents and announcements from relevant companies, the US Securities Regulatory Commission (SEC) officially approved several companies' Ethereum spot ETF listing and trading applications. The Ethereum ETF is scheduled to be listed and traded on Tuesday morning EST. Seven issuers, including BlackRock and Fidelity, set rates of 0.19% to 0.25%, while Grayscale's fund rate for converting trusts to ETFs is still 2.5%. The agency predicts that the first year of ETF listing may attract 15 billion to 20 billion US dollars in capital inflows.
Bitcoin ETF funds have been flowing in for four consecutive weeks, and the market awaits Trump's speech at a major cryptocurrency conference this week
Bitcoin ETF has accumulated inflows of more than 3.1 billion dollars over four weeks. Harris has not publicly discussed her views on cryptocurrencies, but if her position is similar to Biden, traders may continue to believe that Trump is more beneficial to the industry. According to media reports, Trump may propose to list Bitcoin as a strategic reserve asset at this week's Bitcoin conference.
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Hedge funds cut their holdings of US stocks last week at the fastest rate since January 2021
Hedge funds want “cash to be king” before the US presidential election in November. Goldman Sachs's brokerage business said that overall, this week was full of painful liquidation, and early winners such as semiconductors, oversized stocks, and artificial intelligence concept stocks all fell sharply. Goldman Sachs's brokerage division said that in the week ending July 19, hedge funds were rapidly closing their long and short positions, and the speed of hedge fund sell-off was the fastest since January 2021.
Wells Fargo: The Federal Reserve is expected to open the door to interest rate cuts this month
Despite the growing political turmoil in the US, investors insist that US interest rates will fall this year. According to CME data, the possibility that the Fed will stay on hold next week and cut interest rates on September 18 is over 90%, and the possibility of cutting interest rates three times this year is close to 50%. This has hardly changed from before Biden withdrew from the election campaign. Wells Fargo economists said in a report that they expect the Federal Reserve to keep its policy unchanged this month, which will open the door to interest rate cuts. They added that the Federal Reserve's past record shows that it will not shy away from cutting interest rates during the last meeting before the election.
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Resumption of US stock trading
On Monday, the three major stock indexes collectively closed higher. The China General Index surged 2.77%, and Tesla rose more than 5%
The NASDAQ rose 1.58%, the S&P 500 rose 1.08%, and the Dow rose 0.32%.
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Most of the big tech stocks rose; Tesla rose more than 5%, Nvidia rose more than 4%, Google and Meta rose more than 2%, Microsoft rose more than 1%, and Apple and Amazon fell slightly. CrowdStrike fell more than 13%, the biggest two-day decline in history, and a new low since mid-January.
Popular Chinese securities generally rose, and the Nasdaq China Golden Dragon Index rose 2.77%. Xiaopeng Motors rose more than 6%, NIO rose more than 5%, Tencent Music and Ideal Auto rose more than 4%, and NetEase, JD, Baidu, and Bilibili rose more than 2%.
Tesla surged more than 5%. Musk says the company will produce humanoid robots in small quantities next year
$Tesla (TSLA.US)$The closing was up more than 5%. Musk said on Monday that next year Tesla will produce humanoid robots in small quantities for internal use within the company. A few months ago, he announced that he would launch a humanoid robot by the end of 2024. Musk said the company will mass produce robots in 2026 and “hopes” they can be used by other companies.
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This week, Google and Tesla will dominate the fate of US tech stocks
This week, the eyes of the global financial market will be on Tesla and Google.$Tesla (TSLA.US)$und$Alphabet-A (GOOGL.US)$Both companies will release financial reports on July 23, or this Tuesday. With the support of generative AI, Google is expected to continue its strong growth in Q1, and Q2 cloud revenue is expected to increase 25% year over year. Tesla's Q2 gross margin falls short of expectations, and investors will focus on the latest news on FSD, Robotaxi, and energy storage.
Nvidia wants to “seize” the Chinese market: it is allegedly preparing to launch a “compliant flagship” AI chip
People familiar with the matter revealed to the media that it is the “general leader in AI”$NVIDIA (NVDA.US)$A new flagship AI chip is being developed for the Chinese market. The chip will comply with current US export control regulations. According to them, Nvidia will partner with Inspur Group, one of its distributors in China, to distribute this chip, tentatively named “B20.” However, the report did not mention the performance or parameter information of the AI chip.
Global IT downtime aftershocks continue, CrowdStrike has fallen more than 10% over the past few days, and stocks have been downgraded
cybersecurity company$CrowdStrike (CRWD.US)$It fell more than 13%, hitting a low of more than six months. The system outage caused by CrowdStrike is the most serious in recent years. Although CrowdStrike has fixed related configuration errors, it will still take several days to fully resolve the issue. A number of investment banks have lowered their target prices for CrowdStrike. Analysts Guggenheim, who downgraded the CrowdStrike rating from buy to neutral, believe that the division will take some time to repair its image, which may affect the signing of the contract.
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Microsoft's technical failure caused global losses or more than 1 billion dollars
According to estimates by Patrick Anderson, CEO of the American research institute Anderson Economic Group, this time$Microsoft (MSFT.US)$The economic loss caused by the technical failure event is likely to exceed $1 billion. However, according to the report, it is unclear whether the “crowdstrike” company will pay for the related losses. Although the “crowdstrike” company has apologized, it has not responded to US media inquiries about whether it will pay compensation to affected customers. Some analysts pointed out that there may be exemptions in the contracts signed between “crowdstrike” companies and customers, which could allow them to avoid compensation.
NXP Semiconductors' revenue guidance for the third fiscal quarter was disappointing, falling nearly 8% after the market
$NXP Semiconductors (NXPI.US)$Adjusted earnings per share for the second fiscal quarter were $3.20, in line with analysts' expectations; revenue for the second quarter was $3.13 billion, in line with analysts' expectations; projected earnings per share for the third quarter were $3.21-3.63, and analysts expected $3.56 billion; projected revenue for the third quarter was 3.15 billion dollars, and analysts expected $3.35 billion; and the adjusted operating profit for the third fiscal quarter was $1.08 billion - $1.21 billion Analysts expect $1.17 billion; the adjusted gross profit margin for the third fiscal quarter is 58%-59%, and analysts expect 58.5%. After the results were announced, NXP dropped nearly 8% after the market.
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Top 20 US stock turnover
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Hong Kong Market Outlook
Nanshui significantly increased Tencent's holdings by more than HK$1 billion and sold Meituan by more than HK$0.3 billion
On Monday July 22, Southbound Capital made a net purchase of 3.692 billion yuan.
which$TRACKER FUND OF HONG KONG (02800.HK)$,$TENCENT (00700.HK)$,$CSOP Hang Seng TECH Index ETF (03033.HK)$Net purchases ranked in the top three, receiving net purchases of HK$1.286 billion, HK$1.011 billion, and HK$0.277 billion respectively.
In terms of net sales,$MEITUAN-W (03690.HK)$,$XIAOMI-W (01810.HK)$,$CNOOC (00883.HK)$Net sales were HK$0.323 billion, HK$0.076 billion, and HK$0.03 billion respectively.
Berkshire continues to reduce its holdings in BYD, and its shareholding ratio falls below 5%
After a month, Buffett once again took steps to reduce his holdings at BYD. Hong Kong Stock Exchange documents on Monday show that on July 16, Buffett's Berkshire Hathaway reduced its holdings by 1.3955 million shares at an average price of HK$246.96 per share$BYD COMPANY (01211.HK)$, the holding ratio fell from 5.06% to 4.94%. Some analysts point out that once the shareholding ratio falls to 5%, Buffett will speed up the pace of reducing holdings because shareholders holding 5% or less of their holdings do not need to be disclosed.
Today's attention
Keywords: Tesla, Google, Coca Cola, Visa financial report
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On Tuesday, in terms of economic data, the US will release annual data on total existing home sales.
In terms of financial events, the Turkish central bank announced the interest rate decision, and the ECB's chief economist Lien delivered a speech.
In terms of financial reports,$Coca-Cola (KO.US)$,$GE Aerospace (GE.US)$,$Spotify Technology (SPOT.US)$Financial reports will be announced in advance of the US stock market.$Tesla (TSLA.US)$,$Alphabet-A (GOOGL.US)$,$Visa (V.US)$Earnings will be announced after the market.
Futubull Chen read:
Investments must be rational. If you can't understand it, don't do it.
—Buffett
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