Hot news
Before the market opened on Tuesday, the three major futures indexes fell slightly.
Tesla rose nearly 1% pre-market, achieving its best sales performance in China in August.
$Tesla (TSLA.US)$ Pre-market, it rose by nearly 1%, reaching $216.12. According to the latest data released by the China Association of Automobile Manufacturers, Tesla's delivery volume at the Shanghai Gigafactory in August was 86,697 vehicles, an increase of 17% compared to the previous month. Domestic sales exceeded 630,000 vehicles, reaching the highest level this year, with a month-on-month increase of 37%. It is reported that Tesla's five-year interest-free benefits policy will continue until September 30th. Consumers purchasing Model Y and Model 3 can save over 260,000 yuan in interest.
Nvidia plans to expand its software and data center business, providing AI one-stop services.
Foreign media quoted $NVIDIA (NVDA.US)$ CEO Huang Renxun stated that in addition to AI chips, the company is also expanding into software, datacenter design, and network technology services. It hopes to become a one-stop service platform and position itself as an AI factory. Huang Renxun pointed out that in addition to strengthening its core business of AI chips, Nvidia is actively involved in software development, datacenter design, and other areas, aiming to become a big data center like ChatGPT, that is, an AI factory.
According to informed sources, WeChat and iPhone can coexist without a '2-option' scenario, but the game of 'Apple tax' continues.
Citigroup: Tencent is the preferred choice for Chinese Internet stocks, and also bullish on Meituan and Ctrip, etc.
Citigroup believes that internet companies have actively reduced subsidies and focused on improving the quality of investment returns in this quarter, which in turn has supported stronger profits. It is expected that this trend will continue into the second half of the year, and the prospects for profitability may further improve. In addition, several companies have increased their share buyback efforts in the second quarter, strengthening market confidence in their future development prospects. $Tencent (TCEHY.US)$ Still the preferred choice for the bank, and also bullish. $Meituan ADR (MPNGY.US)$Please use your Futubull account to access the feature.$Trip.com (TCOM.US)$ Related service business; the bank is also bullish $Full Truck Alliance (YMM.US)$ growth potential, and considers $Tencent Music (TME.US)$ the recent stock price adjustment as an attractive defensive investment.
"Xpeng Series" flying car is here, selling for less than 2 million yuan!
On September 3, $XPeng (XPEV.US)$ Huizhong's 'Land Carrier' flying car advanced tasting event officially held. Xpeng Huizhong's 'Land Carrier' flying vehicle is scheduled to complete its first public manned flight during the Zhuhai Air Show in November this year, make its first public appearance during the Guangzhou Auto Show in November, start pre-sale by the end of 2024, and the price will be below 2 million yuan.
Gold quantity and price are both increasing! Harmony Gold Mining announces 'explosive' performance forecast: profits expected to surge by 78%
A globally renowned gold mining and exploration company $Harmony Gold Mining (HMY.US)$ stated that with gold prices repeatedly hitting new highs and gold production increasing, the profit size (i.e., earnings per share) from the previous fiscal year is expected to increase significantly by 78% year-on-year. The company estimates that earnings per share for the twelve months of the fiscal year ending in June will reach 13.88 rand (about 0.78 US dollars), far higher than the 7.80 rand of the previous fiscal year. The company is set to officially release its financial statements on September 5.
Indian communication technology company Sify soared more than 134% in pre-market trading, securing the NVIDIA DGX-Ready liquid-cooled data center certification
ICT solution provider $Sify Technologies (SIFY.US)$ Pre-market trading today rose more than 134%. On the news front, the company announced today that it has become the hosting partner of NVIDIA and has obtained liquid cooling certification for the NVIDIA DGX-Ready datacenter program to enable breakthrough AI performance.
Global macro
Wall Street bears: If non-farm payrolls are strong enough, laggards in US stocks may catch up.
Morgan Stanley strategist, who accurately predicted last month's US stock market pullback, said that if this week's non-farm payrolls further prove the resilience of the economy, stocks that have lagged behind in the US stock market rebound may get a boost. If the data once again triggers concerns about a hard landing, it could lead to a significant decline. Wilson reiterated his preference for defensive stocks while warning investors to stay away from small-cap stocks or "underperforming other cheap cyclical stocks in recent years, mainly because economic growth is slowing."
Will tonight's ISM manufacturing index set the tone for global markets this week?
Wall Street expects the August ISM manufacturing index to rise from last month's 46.8 to 47.5, although it is still in the contraction range for the fifth consecutive month despite some recovery. The recovery in the manufacturing sector is expected to further strengthen expectations of a slight interest rate cut by the Fed in September. Bank of America's renowned strategist Michael Hartnett commented in his latest Flow Show report that he sees an opportunity to re-enter long-term bond trades, especially if the ISM manufacturing index is greater than 49, which may push the 30-year US bond yield above 4.3%.
Bank of Japan Governor reiterates that the economic environment remains loose, and if the data meets expectations, interest rates will continue to rise.
Bank of Japan Governor Haruhiko Kuroda reiterated in a document that if the economic and price data meet expectations, the central bank will continue to raise interest rates. Kuroda said that due to the significant negative real interest rates, the economic environment remains loose even after the rate hike in July. After the news was released, the exchange rate fell slightly and is now around 146.153. $USD/JPY (USDJPY.FX)$ The exchange rate has decreased in the short term and is now trading around 146.153.
What signal? Goldman Sachs: "Smart money" is aggressively selling bank and other financial stocks!
According to media reports citing the latest report released by Goldman Sachs on Monday, as reports of layoffs in Wall Street banks and a decrease in investment banking transactions continue to emerge, hedge funds known as "smart money" have continued to short banks and other financial stocks in the week ending last Friday. The report stated that financial stocks were the most sold sector in Goldman Sachs' institutional brokerage division. This division specializes in providing services to global hedge funds. In addition, banks, insurance companies, publicly traded real estate investment trusts (REITs), and capital market companies that enable people to buy and sell bonds and stocks have all experienced net selling for the fourth consecutive week.
Bank of America predicts that structural inflation in the United States will rise sharply, and the bull market for commodities is just beginning!
Bank of America strategists believe that from now until 2030, commodities are the area investors should focus on; structural inflation will rise, which means that the "bull market for commodities is just beginning". Woodard emphasized that due to globalization and technological trends, the inflation rate has remained around 2% for the past 20 years. However, the United States may soon return to the inflation trend before 2000, when inflation averaged around 5% per year. For a long time, commodities such as oil and gold have been considered reliable inflation hedges.
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)
21:45 US August SPGI Manufacturing PMI final value
22:00 US August ISM Manufacturing PMI
Editor/new