Hot news

• Market liquidity is again flashing a red light! The scale of the overnight reverse repurchase agreement of the Federal Reserve has fallen to a three-year low for many days.

According to the New York Fed data on Tuesday, August 6th, there are 60 counterparties (money market funds and other eligible companies) that have placed $291.958 billion in the Federal Reserve's overnight reverse repurchase agreement (RRP) tool, which not only has dropped for four consecutive days, but also has fallen below the 300 billion U.S. dollar mark in usage scale and has hit a more than three-year low since May 2021 for two consecutive days.

• Goldman Sachs CEO: The US economy is resilient and the Federal Reserve is unlikely to take action early.

On August 6th local time, Goldman Sachs CEO David Solomon said in an interview with media, "I don't think you'll see the Fed take action before September. The US economy will continue to grow steadily, and we may not see a recession. After the US stock market has just experienced a very strong rise, it is undergoing a correction." It is expected that the Fed will avoid taking emergency interest rate cuts and will cut interest rates once or twice in the fall of this year.

• Democratic presidential candidate Harris officially announced her running mate.

On August 6th local time, US Vice President Harris announced to supporters that she has selected Minnesota Governor Tim Walz as her running mate, that is, the Democratic Party's Vice Presidential candidate, to participate in this year's election. Walz, who is 60 years old this year, has served as a US federal congressman and was elected governor of Minnesota in 2018 and successfully re-elected in 2022.

• Goldman Sachs: as the US stock market plummeted on Monday, hedge funds aggressively bought on dips.

According to Goldman Sachs' latest brokerage business data, global stocks received moderate net inflows of funds on Monday as the global market experienced a "Black Monday". Bulls bought more than bears. By region, hedge funds bought on dips during the US stock market crash. North America is the only region in the world to receive net inflows. The net purchases of individual stocks by hedge funds was the largest in about 5 months, mainly driven by bullish purchases, and bearish funds had less flow of funds.

• Former ECB president talks about the rapid rise of the yen: no need to panic, it is a belated healthy adjustment.

On August 6th local time, former ECB president Jean-Claude Trichet stated that the recent rapid rise of the yen can be regarded as a belated and healthy adjustment, so there is no need to panic about its extensive market impact.

• The US Energy Department lowered its expectations for Brent crude oil prices for this year and next, as well as its expectations for US GDP and oil production in 2025.

On Tuesday, August 6th Eastern Time, the US Energy Information Administration (EIA) lowered its oil price forecast for 2024 and 2025, citing recent oil price declines being affected by economic concerns, but expected oil prices to rebound in the coming months.

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

• The three indices ended their consecutive declines, and the Jinlong index rose 3% to outperform the large cap.

On Tuesday, the US stock market rebounded significantly, and the three major indices collectively ended their three-day decline. At the close, the Dow Jones Industrial Average rose 0.76%, the S&P 500 rose 1.04%, and the Nasdaq Composite Index rose 1.03%. Nearly 80% of the 500 constituent stocks of the S&P 500 index rose. Tech giant stocks were mixed with Google C falling 0.06%, Apple falling 0.97%, Amazon rising 0.57%, Tesla rising 0.88%, Microsoft rising 1.13%, Nvidia rising 3.78%, and Meta rising 3.86%. Among popular China concept stocks, most rose, with the Nasdaq China Technology Index rising 3.03%, New Oriental rising 13.38%, TAL Education rising 8.47%, Tencent Music rising 5.87%, PDD Holdings rising 5.10%, Alibaba rising 1.20%, Li Auto Inc. rising 0.42%, Xpeng falling 1.37%, and NIO Inc. falling 3.08%.

Large-cap tech stocks were mixed, with Google C falling 0.06%, Apple falling 0.97%, Amazon rising 0.57%, Tesla rising 0.88%, Microsoft rising 1.13%, Nvidia rising 3.78%, and Meta rising 3.86%.

Most of the popular China concept stocks rose, with the Nasdaq China Technology Index rising 3.03%, New Oriental rising 13.38%, TAL Education rising 8.47%, Tencent Music rising 5.87%, PDD Holdings rising 5.10%, Alibaba rising 1.20%, Li Auto Inc. rising 0.42%, Xpeng falling 1.37%, and NIO Inc. falling 3.08%.

• After hours fell more than 12%, Super Micro Computer's last quarter revenue doubled, but profits fell short of expectations, with mixed joy and anxiety in guidance.

Super Micro Computer$SMCI.US$Last quarter's revenue exceeded expectations with a sharp increase, but the profit margin was weak, and the profit growth was far below expectations. The revenue guidance continues to exceed expectations, while the profit guidance is lackluster. The financial report shows an adjusted EPS of $6.25, while analysts expected $8.25. Net sales in the fourth quarter were $5.31 billion, with an estimated net sales of $26 billion to $30 billion for the full year, while analysts expected $23.64 billion. Estimated net sales for the first quarter are between $6 billion and $7 billion, while analysts expected $5.47 billion. The company's board of directors authorized a 10-1 stock split.

As of the time of writing, Super Micro Computer's stock price fell more than 12% after hours.

• After-hours trading fell more than 16%, Airbnb's third-quarter revenue outlook was below expectations.

Airbnb$ABNB.US$Second-quarter revenue was $2.75 billion, with analysts expecting $2.74 billion. Total second-quarter bookings were valued at $21.2 billion, with analysts expecting $21.23 billion. Adjusted EBITDA for the second quarter was $0.894 billion, with analysts expecting $0.8623 billion. The adjusted EBITDA profit margin for the second quarter was 33%, with analysts expecting 31.4%. Forecasted third-quarter revenue is between $3.67 billion and $3.73 billion, while analysts expected $3.84 billion.

As of the time of writing, Airbnb's stock price fell more than 16% after hours.

• With a market share of over 90%, Nvidia has become a "thorn in the eye" of regulators around the world, and its new acquisition cases may be investigated.

According to data, as of the end of last year, Nvidia's AI chip sales accounted for more than 90% of the global market. However, this has also attracted the attention of regulators in various countries. According to Nvidia's financial documents, relevant departments in the European Union, United Kingdom, and China have requested information on its sales of important chips and investments in other companies. According to media reports, the US Department of Justice has also begun investigating Nvidia's sales behavior and will review the company's recent acquisition. $NVDA.US$ United Kingdom

• Up nearly 11%, Uber Technologies' Q2 revenue and profits exceeded expectations, and the number of trips increased by 21.5% year-on-year for the same period.

Uber$UBER.US$In the second quarter, total revenue was $10.7 billion, and EPS was $0.47, while analysts expected $10.57 billion and $0.31, respectively. Thanks to the stable demand for ride-sharing and meal delivery services, Uber's revenue and profits exceeded market expectations, with the number of trips in the second quarter increasing by 21.5% year-on-year and monthly active platform consumers increasing by 14%. Looking ahead to the third quarter, Uber expects bookings to range from $40.25 billion to $41.75 billion, slightly lower than the market's average expectation of $41.18 billion.

As of the time of writing, Uber Technologies' stock price rose by nearly 11% after hours.

• In less than half a year, Figure AI released its second-generation humanoid robot, calling it the "most advanced AI hardware on the planet".

On Tuesday, August 6, Microsoft, Nvidia, and Amazon$MSFT.US$Nvidia$NVDA.US$Amazon$AMZN.US$FigureAI, an AI robot startup supported by founder Bezos, has released its second-generation humanoid robot, Figure 02, calling it "the most advanced AI hardware on earth." This brings the company closer to its goal of mass-producing humanoid robots for industrial customers.

• Bitcoin miner Core Scientific expands cooperation with NVIDIA's "acclaimed organization" and its stock price soars more than 18% overnight.

Core Scientific, a US Bitcoin mining company. $CORZ.US$ Core Scientific announced on Tuesday that it had expanded its cooperation with CoreWeave, a startup supported by NVIDIA, and reached a $6.7 billion agreement. The news boosted Core Scientific's stocks by 18.13% on Tuesday.

• Rivian, a US electric car maker, fell more than 6% after hours due to lower than expected revenue for the second quarter.

Rivian, a US electric car maker.$RIVN.US$In the second quarter, Rivian's revenue was $1.16 billion, analysts expected $1.17 billion; the adjusted loss per share in the second quarter was $1.13, analysts expected a loss per share of $1.20; cash and cash equivalents in the second quarter were $5.76 billion, analysts expected $5.64 billion; the company is expected to produce 57,000 vehicles for the full year, while analysts expect 56,007 vehicles; the company still expects to have an adjusted loss before interest and taxes of $2.7 billion for the full year, while analysts expect a loss of $2.74 billion.

As of publication, Rivian fell more than 6% after hours.

• Disney will increase its streaming prices by up to 25% and add new channels.

Disney$DIS.US$On August 6, it was announced that the streaming service would raise prices. For the lowest-priced, ad-supported version of Disney+, the price will increase by 25% to $9.99 per month. The ad-free version of Disney+ will rise by 14% to $15.99 per month. The package that includes Disney+ and Hulu with ads will increase by 10% to $10.99 per month. The price increase will take effect on October 17. Hulu and ESPN+ will also be more expensive.

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.

• Beishui significantly increased its holdings of Tracker Fund of Hong Kong by more than HKD 2.2 billion and sold more than HKD 0.2 billion in HSBC Holdings.

As of August 6 (Tuesday), southbound funds had a net purchase of HKD 5.987 billion of Hong Kong stocks.

$TRACKER FUND OF HONG KONG (02800.HK)$,$TENCENT (00700.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$Net purchases were HKD 2.214 billion, HKD 0.755 billion, and HKD 0.589 billion respectively.

$HSBC HOLDINGS (00005.HK)$,$CHINA MOBILE (00941.HK)$,$MEITUAN-W (03690.HK)$Net sales of HKD 0.218 billion, HKD 0.143 billion, HKD 0.1 billion are respectively suffered.

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 foreign exchange reserves; Disney, Novo Nordisk, Occidental Petroleum financial report.

On Wednesday, economic data including US EIA crude oil inventories and strategic petroleum reserve inventories, as well as China's foreign exchange reserves, will be released.

Among the US stock companies, attention should be paid to the financial reports of weight loss drug giant $Novo-Nordisk A/S (NVO.US)$and media entertainment giant $Disney (DIS.US)$as well as oil companies.$Occidental Petroleum (OXY.US)$In Hong Kong stock companies, the results of $CHINA TOWER (00788.HK)$,$CATHAY PAC AIR (00293.HK)$Will release financial report.

Regarding IPOs,$BLACK SESAME (02533.HK)$will be announced.

Futubull Morning News:

When people forget the most basic common sense like "two plus two equals four", it's time to exit the market.

- Buffet

Editor/ping