Hot news

• 周一盘前，美股三大股指期货涨跌不一，道指期货小幅下跌

• 明星科技股盘前普涨，英伟达、特斯拉涨超1%

• 加密货币概念股盘前集体飙升！比特币突破65000美元/枚，为9月30日以来首次，日内涨3.40%

截至发稿，“持币大户”$MicroStrategy (MSTR.US)$rose more than 5%.$MARA Holdings (MARA.US)$,$CleanSpark (CLSK.US)$,$Iris Energy (IREN.US)$stocks are all rising by more than 5%.

• Taiwan Semiconductor denies expansion plans in Europe

There are reports stating that the world's largest chip contract manufacturers$Taiwan Semiconductor (TSM.US)$Expanding its global business, planning to open more factories in Europe, focusing on the artificial intelligence chip market. Insiders who have knowledge of the situation recently revealed that Taiwan Semiconductor has started building its first wafer fab in Dresden, Saxony, Germany, and plans to build several more wafer fabs for different market sectors in the future.

• $Longboard Pharmaceuticals (LBPH.US)$up more than 50% in pre-market trading, Lundbeck to acquire the company for $2.6 billion

Danish pharmaceutical giant Lundbeck announced its intention to acquire the company for $2.6 billion in equity value.$Longboard Pharmaceuticals (LBPH.US)$.

• SpaceX shareholder DXYZ surged over 12% in pre-market trading, successful Starship test.

$Destiny Tech100 (DXYZ.US)$Pre-market trading surges over 12% in US stocks, SpaceX's Starship test launch is a perfect success, with the booster 'returning back' to the launch pad. As of June 30, 2024, 37.6% of the Destiny Tech100 investment portfolio consists of SpaceX shares, which may benefit significantly from it.

• WW International, a provider of weight loss solutions, rose nearly 6% in pre-market trading.

$WW International (WW.US)$Rising nearly 6% in pre-market trading. In terms of news, the FDA in the USA will reconsider the decision to ban the prescription version of liraglutide for weight loss. The company previously announced the addition of compounded semaglutide to its weight loss program, starting at $129.

• Sirius XM surged over 3% in pre-market trading, with Buffett once again increasing his stake in the company.

Satellite broadcasting company$Sirius XM (SIRI.US)$Rising over 3% in pre-market trading. In recent news, Buffett's Berkshire-A recently heavily bought shares of Sirius XM. According to documents submitted to regulatory agencies last Friday, this investment group acquired $86.73 million worth of shares within three days and increased its total holdings in the company to 0.10872 billion shares.

• Alibaba will be included in the Hang Seng Stock Connect Hong Kong Index after the close of trading on October 25th.

The Hang Seng Index announced that, because $Alibaba (BABA.US)$Already included in Stock Connect and meeting the rapid inclusion requirements of relevant indexes, Alibaba will be included in the following indexes after the close of trading on Friday, October 25, 2024, and will take effect from Monday, October 28, 2024.

Global macro

• "Terrifying data" will hit hard this week! Expectations for rate cuts will face further tests.

The US stock market closed at record highs again last week as investors began digesting quarterly earnings reports and the debate over what action the Fed will take at the November rate meeting intensified. Last week, both the Nasdaq index and the S&P 500 index rose by more than 1%, and on Friday, the Dow and the S&P 500 index closed at record highs. In the upcoming week, the monthly US retail sales report, known as "terrifying data," will lead the economic calendar as investors assess whether the economy will pick up speed again after unexpectedly strong job reports in September.

• Is the inflation target in sight? Goldman Sachs predicts that September PCE will approach the Federal Reserve's 2% target.

The US Personal Consumption Expenditures (PCE) report for September is set to be released on October 31, 2024. Goldman Sachs economists stated in a recent report regarding this data that they predict a 2.04% increase in the inflation index over the next 12 months, rounded to 2%, which is the Federal Reserve's target inflation rate. The Personal Consumption Expenditures report will provide the latest insights on inflation trends, including the overall and core Personal Consumption Expenditures price indices, all of which the Federal Reserve closely monitors when making monetary policy decisions.

• Goldman Sachs: Hedge funds' buying of US stocks in a single week reaches the highest level since 2021.

According to Goldman Sachs' prime brokerage desk, during the week of October 11, hedge funds bought US stocks at the fastest pace in the last four months, ending the trend of eight consecutive weeks of selling. Individual stocks saw the largest weekly buying demand since December 2021. Macro products (such as index funds and ETFs) were net sold. Out of eleven sectors (within the S&P 500 Index), seven experienced net buying, with the healthcare, financial, industrial, and information technology/technology sectors attracting notable bids.

• Uncertainty over the Fed rate cut intensifies market volatility, leading investors to turn to medium-term bonds.

With the prospect of a more uncertain path for Fed rate cuts, bond investors are taking defensive measures. The unexpectedly high inflation data released last week, along with weak labor market data, led traders to reduce bets on the extent of Fed rate cuts for the remaining time of 2024. This also pushed US bond yields to their highest levels since July. Additionally, an indicator closely monitored to measure expected volatility in US bonds rose to its highest level since January.

• Do not be misled by Shiba Mau, the market may underestimate the probability of japan raising interest rates.

Barclays stated that Yoshihide Suga's moderate remarks reflect his low approval ratings. Barclays believes that if the Liberal Democratic Party-Komeito coalition wins the majority of seats in the election, Suga's dovish comments may decrease, enhancing market expectations for the Bank of Japan to raise interest rates. The Bank of Japan is expected to raise rates by 25 basis points in December of this year or January of the next, and then again in July by 25 basis points to raise the interest rate to 0.75%.

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)

23:00 USA new york fed 1-year inflation expectations for september

The next morning

03:00 federal reserve board governor warsh speech on economic outlook

Editor/ping