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US initial claims data released, and three major equity index futures jumped straight up.
The number of initial jobless claims in the United States for the week ending August 3 was 0.233 million, lower than the expected 0.24 million and revised from 0.249 million to 0.25 million. It is a new low since the week of July 6.
Bitcoin broke through $58,000 per coin.
$Bitcoin (BTC.CC)$ The price of bitcoin broke through $58,000 each, rising by 5.19% during the day. $Ethereum (ETH.CC)$ The price of ethereum broke through $2,500 per unit, rising by 6.71% during the day.
Nvidia, the "AI overlord" stock, is being sold! A well-known US investment bank says it is a good opportunity to buy on dips.
Recently, the stock price of 'AI Dominator' NVIDIA has suffered a significant pullback. In the view of Piper Sandler's analyst Harsh Kumar, this provides investors with a great opportunity to buy on dips. Kumar pointed out in a report on Wednesday that the statement made by NVIDIA on the delay in shipping the Blackwell chip means that 'the delivery time of the Blackwell chip is not expected to be significantly affected or delayed'. Piper Sandler rates NVIDIA's stock as 'buy' with a target price of $140. $NVIDIA (NVDA.US)$ Eli Lilly and Co. rose nearly 13% in pre-market trading, exceeding expectations for Q2 revenue and adjusting its full-year revenue and EPS expectations. Pre-market gains have expanded to 13%. Earlier, Eli Lilly announced second-quarter results, with revenue of $11.3 billion, higher than the expected $9.98 billion; adjusted EPS was $3.92, compared with $2.11 in the same period last year. Lilly expects full-year revenues of $45.4 billion to $46.6 billion, up from previously forecasted $42.4 billion to $43.6 billion. Expected full-year adjusted EPS is $16.1 to $16.6, up from previously forecast $13.7.
Intel's market value evaporated $32 billion in one day, and it was sued by shareholders for major false or misleading statements. According to foreign media reports, the Silicon Valley chip manufacturer was sued by shareholders on Wednesday. Shareholders claimed that it made 'significant false or misleading statements' about its business and manufacturing capabilities, leading to poor performance, layoffs, suspension of dividends, and a market value shrinkage of more than $32 billion in one day. The collective lawsuit against Intel, CEO Pat Gelsinger and CFO David Sinclair was filed in a federal court in San Francisco. Shareholders claimed that Intel had made 'significant false or misleading statements' about its business and manufacturing capabilities.
$Eli Lilly and Co (LLY.US)$ Analysts: Apple may charge up to $20 for some Apple Intelligence functions. Counterpoint analysts say the company may charge up to $20 for advanced artificial intelligence functions as part of its efforts to drive profitable service revenue growth. Apple plans to launch its Apple Intelligence system on some devices later this year. Analysts expect Apple Intelligence to be included in the $19/month Apple One subscription service or charged separately at $10-20/month.
Founder Michael Saylor said he personally accumulated about $1 billion in Bitcoin. 'I will continue to buy more Bitcoins,' Saylor said, but he refused to disclose the exact amount of Bitcoin he personally owns. 'I think it's a great capital investment asset for individuals, families, institutions, companies or countries. I can't find a better area to invest in.' As of the time of publication, MicroStrategy jumped more than 6% in pre-market trading.
Sam Altman posted a 'strawberry' on X and netizens went crazy guessing whether it was a new GPT model. Sam Altman, CEO of OpenAI, the developer of ChatGPT, posted a picture of strawberries he grew in his garden on social media X, which sparked hot discussion among netizens. Did this mean that a new GPT model is coming soon? Strawberries made people think of a project called 'Strawberry' that had been exposed by the OpenAI team before. The project was originally named Q*. According to internal documents at the time, the goal of the model was to enable artificial intelligence to not only generate answers, but also plan ahead, browse the internet autonomously and reliably, and execute 'deep research' by OpenAI. $Intel (INTC.US)$ JPMorgan: Three-quarters of global arbitrage transactions have been lifted, and ROI has fallen by about 10% since May. JPMorgan's data shows that three-quarters of global arbitrage transactions have been lifted, and recent sell-offs have erased gains this year. Quantitative strategy analysts Antonin Delair, Meera Chandan, and Kunj Padh wrote in a report to clients that the ROI of the bank's tracked basket of arbitrage trades in the G10, emerging markets, and globally has fallen by about 10% since May. In the past week, due to concerns about the Fed's rapid interest rate cut and the Bank of Japan's higher-than-expected interest rate hike, global market volatility has risen sharply, causing yield spread trades to suffer a heavy blow.
Analysts: Apple may charge up to $20 for some Apple Intelligence features.
Counterpoint analysts stated that $Apple (AAPL.US)$ 聳人聽聞的新聞來了！深度探究行業的Counterpoint研究公司發布的報告稱，蘋果公司將向Apple Intelligence用戶收取高達20美元的費用，以使用其先進的人工智能功能。蘋果計劃在今年晚些時候在其部分設備上推出Apple Intelligence，這是其即將推出的人工智能系統。分析師預計將會加入到月費19美元的Apple One訂閱服務中，或收取單獨的10至20美元/月的費用。
The founder of microstrategy, a "large hodler", revealed that he personally purchased about $1 billion worth of bitcoin.
$MicroStrategy (MSTR.US)$ MicroStrategy's founder Michael Saylor said he personally accumulated about $1 billion in Bitcoin. 'I will continue to buy more Bitcoins,' Saylor said, but he refused to disclose the exact amount of Bitcoin he personally owns. 'I think it's a great capital investment asset for individuals, families, institutions, companies or countries. I can't find a better area to invest in.' As of the time of publication, MicroStrategy jumped more than 6% in pre-market trading.
Morgan Stanley: Three-quarters of global arbitrage transactions have been lifted, and the ROI has fallen by about 10% since May. JPMorgan's data shows that three-quarters of global arbitrage transactions have been lifted, and recent sell-offs have erased gains this year. Quantitative strategy analysts Antonin Delair, Meera Chandan, and Kunj Padh wrote in a report to clients that the ROI of the bank's tracked basket of arbitrage trades in the G10, emerging markets, and globally has fallen by about 10% since May. In the past week, due to concerns about the Fed's rapid interest rate cut and the Bank of Japan's higher-than-expected interest rate hike, global market volatility has risen sharply, causing yield spread trades to suffer a heavy blow.
MicroStrategy's founder Michael Saylor said he personally accumulated about $1 billion in Bitcoin. 'I will continue to buy more Bitcoins,' Saylor said, but he refused to disclose the exact amount of Bitcoin he personally owns. 'I think it's a great capital investment asset for individuals, families, institutions, companies or countries. I can't find a better area to invest in.' As of the time of publication, MicroStrategy jumped more than 6% in pre-market trading.
Super micro computer's performance is bearish, and put orders are being taken one after another.
There are concerns about the significant decline in gross margin. $Super Micro Computer (SMCI.US)$ After the earnings report, the stock fell by more than 20%, and the daily trading volume of options increased by 2.4 times, reaching 0.38 million contracts. The put/call ratio rose to 46.5%. On the options chain, the bears have the upper hand, and the put option with an expiration date of this Friday and an exercise price of $500 has the highest trading volume, with 0.0232 million contracts. It is worth noting that the put option with an expiration date of this Friday and an exercise price of $522.5 saw a 400% increase in trading volume, and some put options earned more than triple the option premium.
Global macro
Today's weather is good. Today's weather is good.
JPMorgan's data shows that three-quarters of global arbitrage transactions have been lifted, and recent sell-offs have erased gains this year. Quantitative strategy analysts Antonin Delair, Meera Chandan, and Kunj Padh wrote in a report to clients that the ROI of the bank's tracked basket of arbitrage trades in the G10, emerging markets, and globally has fallen by about 10% since May. In the past week, due to concerns about the Fed's rapid interest rate cut and the Bank of Japan's higher-than-expected interest rate hike, global market volatility has risen sharply, causing yield spread trades to suffer a heavy blow.
Buffett loses 55 billion yen due to the sharp decline in Japanese stocks! Industry insiders discuss: Will the stock god still increase holdings?
According to industry insiders' statistics, the book value of the Japanese stocks held by the 'Oracle of Omaha' as of Monday had evaporated by about JPY 980 billion (approximately USD 6.7 billion) in the recent market crash, but as the Japanese stock market rebounded, the loss had narrowed to about JPY 550 billion (approximately USD 3.8 billion) as of Wednesday's close. Data compiled by the industry shows that Berkshire holds an average of 8.2% in each of the following stocks: $ITOCHU (8001.JP)$Please use your Futubull account to access the feature.$Marubeni (8002.JP)$Please use your Futubull account to access the feature.$Mitsubishi (8058.JP)$Please use your Futubull account to access the feature.$Mitsui (8031.JP)$Asia Vets and New Energy Fund.$Sumitomo (8053.JP)$ .
Wall Street executives debate: Emergency rate cuts are 'very unlikely', but a 50 basis point rate cut can be expected.
According to the CME FedWatch tool, the market is pricing in a 50 basis-point rate cut at the September meeting of the Federal Reserve. Former New York Fed President Dudley said an immediate rate cut is necessary, but 'very unlikely,' and the September meeting may see a 50 basis-point rate cut. Jeff Muhlenkamp, portfolio manager at Muhlenkamp & Company, and Ian Shepherdson, founder and chief economist of Pantheon Macroeconomics, both believe that an early rate cut by the Fed is unlikely, as it could send investors the wrong message. Lukasz Tomicki, founder of LRT Capital, thinks that the volatility in the stock market is not due to a recession, and the Fed does not need to cut rates.
Analysts: The difficult summer market conditions in the US stock market have overshadowed the shine of corporate profits exceeding expectations.
Analyst Sagarika Jaisinghani pointed out that stocks in the S&P 500 index that exceeded earnings expectations had a median one-day reaction that was 1.7% higher than the benchmark index, the widest gap since 2019, while the median reaction of stocks that fell short of expectations was only 1.1% behind the index, one of the smallest gaps in the same period. Profits of S&P 500 component stocks grew by 13% in the second quarter, the largest increase since the fourth quarter of 2021. However, the index did not benefit from a strong earnings season. The stock market is focused on concerns about overvalued technology company valuations and fears that the Fed's rate cuts are not fast enough to prevent an economic slump.
The Bank of Japan's 'repeated hopping' has caused market turmoil, and future policy decisions are expected to become more complex.
After the global market turmoil, the Bank of Japan successfully calmed investors' nerves by conveying a signal of stable rate hikes. However, this change in communication strategy may reflect the Bank of Japan's determination to gradually withdraw from decades of stimulus policies. If the Bank of Japan, which has been scarred by policy mistakes and reversals over the past 25 years, allows itself to be swayed by the market, it may be constrained in its efforts to overcome the so-called over-support of the Japanese economy, namely achieving monetary policy normalization.
Bilibili rose more than 3% pre-market trading and was upgraded to "buy" by UBS, which raised its EPS estimate per share.
Reminder for US Macro Events
(All in Peking Time)
20:30 Initial jobless claims in the United States for the week ending August 3rd.
The next day at 03:00, the FOMC voting member for 2024, and Richmond Fed President Barkin, will participate in a fireside chat.
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