Hot news

• On Monday pre-market, the three major futures indexes fell slightly.

• Growth tech stocks are slightly weaker in pre-market.

• International gold price breaks through $2700! Golden industrial concept stocks are strong in pre-market.

Golden industrial concept stocks collectively rise in pre-market. $Coeur Mining (CDE.US)$ Up more than 3%, Wheaton Precious Metals (WPM.US) fell more than 13%, with silver falling more than 4%, and others falling more than 2%. $Barrick Gold (GOLD.US)$Please use your Futubull account to access the feature.$Harmony Gold Mining (HMY.US)$Please use your Futubull account to access the feature.$Gold Fields (GFI.US)$ Rising by more than 1%. In terms of news, there is still no sign of a slowdown in the upward trend of gold, with London spot gold reaching a high of $2733.5 per ounce today, once again hitting a new all-time high.

• Is there a resurgence in demand for apple in China? Sales of iPhone 16 increased by 20% year-on-year in the first three weeks before its release.

According to the research company Counterpoint's data, $Apple (AAPL.US)$ The new iPhone model has had a strong start in the Chinese market, with sales increasing by 20% in the first three weeks after its launch compared to the iPhone 15 in 2023. Analyst Eves from Wedbush Securities indicated that the strong initial sales performance of the iPhone 16 suggests a significant recovery in the Chinese market, driving Apple's so-called "growth revival".

• Ming-Chi Kuo: Microsoft's Q4 GB200 orders surged 3-4 times, exceeding the total of all other cloud service providers.

Tianfeng International analyst Ming-Chi Kuo's latest release $NVIDIA (NVDA.US)$ Blackwell GB200 chip industry chain order information shows that currently $Microsoft (MSFT.US)$ is the world's largest GB200 customer, with a 3-4 times surge in orders in the fourth quarter of this year, surpassing the total orders of all other cloud service providers. Kuo Ming-Chi stated in the report that Blackwell chip capacity expansion is expected to start in early fourth quarter of this year, with shipments between 0.15 million and 0.2 million blocks. It's expected that shipments in the first quarter of 2025 will significantly increase by 200% to 250%, reaching between 0.5 million and 0.55 million blocks.

• Robotaxi's launch event was disappointing, can tesla's financial report this week regain market confidence?

After the US stock market closed on October 23, market expectations, $Tesla (TSLA.US)$ It is expected to achieve revenue of $25.57 billion in the third quarter, a year-on-year increase of 9.5%; expected EPS is $0.58, a year-on-year decrease of 12.1%. Analysts predict that Tesla's profit improvement prospects are not great, and the gross margin may further decline. The time of launching low-cost models, FSD, Robotaxi financing, and detailed progress in mass production are all key points of the conference call. As of the publication, Tesla fell over 1% in pre-market trading.

• Is the sky the limit? Bank of America raises Nvidia's target price: it can still rise by another 38%

Despite the fact that $NVIDIA (NVDA.US)$ Stocks have been rising for almost the entire year, but analysts at Bank of America recently stated that they expect the stock to rise further. The bank has raised Nvidia's target price from $165 to $190. This means that the stock, which closed at $138 last Friday, can still rise by 38%. Bank of America analysts point out that the artificial intelligence market will grow exponentially in the coming years. They state that as this chip giant continues to consolidate its leading position in the market, this will bring a "generational opportunity" to Nvidia.

• Cryptocurrency concept stocks collectively "celebrate", with MSTR and MARA both experiencing implied volatility of over 100%

Bitcoin surged towards the $70,000 mark! Last Friday, the concept stocks of cryptocurrencies collectively rose, with "major holders".$MicroStrategy (MSTR.US)$Rising by more than 11%, the implied volatility soared to 110%, the call ratio increased to 74%; the options volume expanded by 2.15 times compared to the previous trading day to 0.75 million contracts. Among the unexpired options, the highest volume of call options with a $220 exercise price expiring this Friday was 0.029 million contracts.

Mining stocks$MARA Holdings (MARA.US)$Last Friday, rose nearly 5%, the implied volatility slightly fell to 114.18%, the put ratio increased to 23%; the options volume increased to 0.547 million contracts. Among the unexpired contracts, the highest volume of call options with $20 and $19 exercise prices expiring this Friday was 0.04 million contracts and 18,000 contracts respectively.

Global macro

• Bull market in US stocks expected to continue! Survey: s&p 500 expected to close at nearly 6000 points this year.

According to the latest Markets Live Pulse survey, despite the upcoming US presidential election being a major uncertainty factor, the crazy rebound in US stocks this year is expected to continue until the final stage of 2024. Based on the median estimate of 411 respondents, the S&P 500 index is expected to close at 5977 points this year, about 2% higher than last Friday's closing price of 5865 points. Year-to-date, the benchmark index has risen by 23%, hitting 47 closing highs.

• Goldman Sachs, JPMorgan Chase, Deutsche Bank, and others have collectively voiced their opinion, with Wall Street betting heavily on the "Trump trade."

As the US election enters a heated phase, the market seems to sense subtle changes in the wind. 'Smart money' has begun to overwhelmingly bet on a Trump victory. Wall Street believes that, similar to 2016, the recent main drivers of the market's rise come from regional banks, large banks, and the energy sector. Deutsche Bank believes that the main difference in market expectations between Trump and Harris is mainly reflected in the forex market. If Trump wins, the dollar will strengthen. However, the market volatility from the red sweep may be greater.

• Every day, Musk makes the most extreme bet by 'buying tickets' for one million dollars.

Musk announced that he will randomly give $1 million to a Pennsylvania voter who signs an “American Political Action Committee” (America PAC) petition every day until Election Day (November 5). Market analysis shows that from satellites to autonomous driving, from brain chips to AI robots, Musk's technologies face significant regulatory obstacles before going public. If Trump wins, Musk will have significant influence on regulatory agencies. In this unpredictable election, Musk intricately links Tesla's future, his reputation, and wealth with Trump's.

• The sentiment in the cryptocurrency circle has sharply intensified! Bitcoin briefly approached $70,000.

Due to a large inflow of funds into Bitcoin ETFs and the increased likelihood of a Trump victory, which enhances the expectation of a friendly future regulatory environment for the cryptocurrency circle, on Monday, $Bitcoin (BTC.CC)$ The price once approached $70,000, reaching the highest level since June.

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)

22:00 USA September Conference Board Leading Indicators m/m

20:55 2026 FOMC Voting Member, Dallas Fed President Logan delivered a speech and participated in a moderated Q&A session before the 2024 Securities Industry and Financial Markets Association (SIFMA) annual meeting.

Next day

05:05 2025 FOMC Voting Member, Kansas Fed President Schmidt delivered a speech on economic and monetary policy outlook.

06:40 2024 FOMC voting committee member, San Francisco Fed President Daly participated in the Q&A session of the 2024 Wall Street Journal Technology Event.

Editor/Somer