Hot news

• The Fed released a new indicator, showing ample reserve levels, indicating that QT can continue to move forward.

On Thursday, based on a monthly indicator first released by the New York Fed, the reserve size of the U.S. banking system remains ample, indicating that the Fed can continue to reduce the liquidity of the financial system through Quantitative Tightening (QT). Wall Street analysts believe this means the Fed can continue QT until 2025; it is reasonable for the Fed to remain cautious when further reducing its balance sheet size, especially to avoid a repeat of the repo crisis in September 2019 as the debt ceiling period approaches next year.

• The "fear data" exceeded expectations, and the Fed's interest rate cut expectations for the year suffered another blow.

On Thursday, the September retail sales growth in the U.S. slightly exceeded expectations, supporting the view of strong growth in the economy in the third quarter. The increase in September retail sales in the U.S. indicates that the economy is still on track, which may not prevent the Fed from cutting interest rates next month, but the magnitude of the rate cut is likely to be reduced.

• Gold is strong once again at a new high! Will it break through the $2700 mark?

On Thursday, gold continued to hit new historical highs, approaching the $2700 mark at one point. The uncertainty surrounding the U.S. presidential election and the Middle East conflict is prompting investors to seek.Its price has soared to a historic high, closely related to market expectations of interest rate cuts by the Federal Reserve.While the loose monetary policy environment has maintained the upward trend of gold.

• Bitcoin is on a strong rise, and the expectation of Trump winning the election is gradually strengthening.

In the past seven days, the price of bitcoin has accumulated a rise of about 7%, far exceeding global stock indices and gold. As of the time of publication, the price of the token fluctuated above $67,000. Recently, Trump's campaign data has shown significant strength, and the rise in bitcoin indicates that the market is increasingly believing that Trump may win the November US election. Billionaire Stan Druckenmiller referred to the cryptocurrency market as one of the reliable indicators of expectations for a Trump victory.

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

• Dow hits another historic high! Taiwan Semiconductor surged nearly 10%, with a market cap exceeding $1 trillion.

Major US stock indices closed mixed, with the Dow hitting another historic high, marking the fourth day in the last five trading days to set a closing record, while the S&P 500 index reached another intraday high.

As of the close, the Dow rose 161.35 points, up 0.37%, to 43,239.05 points; the Nasdaq rose 6.53 points, up 0.04%, to 18,373.61 points; the S&P 500 index fell 1.00 point, a decrease of 0.02%, to 5,841.47 points.

Large-cap tech stocks had mixed performances, with Taiwan Semiconductor surging nearly 10%, closing at a record high of $205 per share, with a total market cap of $1.07 trillion; Netflix fell over 2%, Google over 1%, Tesla slightly down; Intel, Apple, Microsoft, Amazon, Meta all saw slight gains.

Many china concept stocks fell, with the nasdaq golden dragon index in china dropping by 3.61%. Fangdd network plunged over 24%, ke holdings dropped over 11%, miniso, xpeng fell by 7%, nio inc fell over 6%, bilibili, li auto inc and others dropped by more than 5%, jd.com, tencent music and others fell by over 4%.

• Hits a new high! Taiwan semiconductor surged nearly 10%, market cap surpasses trillion mark.

Taiwan semiconductor's Q3 2024 revenue reaches 759.69 billion New Taiwan dollars, up 39% year-on-year; net income is 325.26 billion New Taiwan dollars, up 54.2% year-on-year; estimated sales for the fourth quarter are 26.1 billion US dollars to 26.9 billion US dollars, with an estimated 24.94 billion US dollars. As of the close, Taiwan semiconductor soared by nearly 10%, with a total market value reaching 1.07 trillion US dollars.

• After hours, netflix surged nearly 5% in Q3 revenue and earnings exceeding expectations, unexpected increase in paid users.

$Netflix (NFLX.US)$ Operating profit increased by over 50% in the third quarter, operating margin exceeded 30% to 29.6%, greatly exceeding expectations. Revenue in the third quarter increased by 15%, expected to increase by another 15% in the fourth quarter, 8% higher than analysts' expectations, with slight upward adjustment to full-year guidance, stating that the full-year revenue growth rate is at the high end of the guidance range of 15%. Net increase of 5.07 million streaming paid subscribers in the third quarter, down 42% year-on-year, analyst expected increase of 4.47 million. As of press time, netflix rose nearly 5% after hours.

• Apple Alert! Wall Street investment banks issue warnings to the company.

Jefferies financial's analysts from Wall Street investment banks warns that the U.S. Department of Justice is "likely" to ban. $Alphabet-C (GOOG.US)$ and $Apple (AAPL.US)$ The long-term search deal between apple and google could lead to an 11% drop in apple's stock price. Jefferies financial indicated that the deal between search giant Google and smartphone makers such as Apple is at the core of the U.S. Department of Justice's antitrust lawsuit against Google. If the U.S. Department of Justice ultimately wins after a series of appeals, Apple could lose a significant amount of revenue. Apple and Google have not yet commented on this.

• Insiders: Tesla's FSD has not yet been approved to enter China, Musk once sought to obtain some data.

According to China Daily,Since the beginning of the year, there have been continuous reports about Tesla's FSD (Full-Self Driving) system entering the Chinese market soon. Several insiders revealed that the Chinese government supports the testing of some FSD features, under the premise of complying with existing laws and regulations, but the introduction of FSD into China has not yet been approved by the regulatory authorities, and related assessments are still underway. Musk has applied to the relevant authorities, hoping to obtain some video data for system training, and has promised that this data can be subject to strict review by the relevant departments.

• Meta collaborates with Hollywood's Blumhouse to develop an AI movie generation model

On Thursday local time, the US tech giant announced a collaboration with Hollywood company Blumhouse Productions, known for producing popular horror films such as 'The Purge' and 'Get Out', to jointly develop its artificial intelligence (AI) video model Movie Gen. Blumhouse has selected film producers like Anish Chaganty and Casey Affleck to test Movie Gen and use clips generated by the tool in their films. Earlier this month, Meta released a new AI model Movie Gen that can create realistic videos and audio clips based on user prompts, claiming it can rival the vin video models of startups like OpenAI and ElevenLabs. $Meta Platforms (META.US)$ Thursday Meta Platforms released a new AI model Movie Gen that can create realistic videos and audio clips based on user prompts. The tech giant has partnered with Hollywood company Blumhouse Productions, known for producing popular horror films such as 'The Purge' and 'Get Out', to develop its artificial intelligence (AI) video model Movie Gen. Blumhouse has selected film producers like Anish Chaganty and Casey Affleck to test Movie Gen and use clips generated by the tool in their films. Earlier this month, Meta released a new AI model Movie Gen that can create realistic videos and audio clips based on user prompts, claiming it can rival the vin video models of startups like OpenAI and ElevenLabs.

• "Optimus Prime" is a marketing gimmick? Tesla's official release video attempts to respond to the questioning.

Thursday $Tesla (TSLA.US)$ The Optimus social media account posted a 90-second video on Thursday, showing Optimus navigating inside the factory, charging itself at a charging station, transporting a box of batteries, and climbing stairs. At the end of the video, Optimus also distributed bottled beverages and popcorn to human employees in the factory. Tesla CEO Musk also reposted the video, with insiders revealing that Musk personally approved it. Media analysts suggest that Musk aims to counter external doubts about robots with this video. According to media reports, insiders pointed out that Tesla employees remotely supervised many interactions between Optimus and guests, which were not as intelligent as they appeared.

• Bank of America raised Nvidia's stock price target to $190

Bank of America's global research has been upgraded. $NVIDIA (NVDA.US)$ The stock price target is raised to $190, implying a 39% upside from the latest closing price, previously $165; maintaining a buy rating.

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.

• Northbound funds bought over 8.3 billion Hong Kong dollars in Hong Kong stocks all day! Rushing into nearly 0.9 billion Hong Kong dollars for Sunac China, and increasing holdings of Alibaba by over 0.6 billion Hong Kong dollars.

On October 17 (Thursday), southbound funds net bought 8.359 billion Hong Kong dollars of Hong Kong stocks.

$SUNAC (01918.HK)$,$CHINA LIFE (02628.HK)$,$BABA-W (09988.HK)$Net buys of 0.876 billion Hong Kong dollars, 0.727 billion Hong Kong dollars, and 0.648 billion Hong Kong dollars respectively.

$KUAISHOU-W (01024.HK)$,$CHINA MOBILE (00941.HK)$,$MEITUAN-W (03690.HK)$Received net sales of 0.102 billion Hong Kong dollars, 0.101 billion Hong Kong dollars, and 99.95 million Hong Kong dollars respectively.

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 third-quarter GDP, the State Council Information Office holds a press conference on the operation of the national economy, the opening of the 2024 Financial Street Forum Annual Meeting, Japan's September core CPI, Zijin Mining Group/American Express earnings

On Friday, in terms of economic data, China will release data on the third-quarter GDP, total retail sales of consumer goods in September, and the value added of industrial enterprises above a designated size in September. In addition, Japan will release the September core CPI.

In terms of financial events, the State Council Information Office will hold a press conference on the operation of the national economy. In addition, the 2024 Financial Street Forum Annual Meeting will open.

In terms of performance, $American Express (AXP.US)$ Will release earnings before the US stock market opens. In addition, $ZIJIN MINING (02899.HK)$ will also announce earnings on the same day.

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