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• Goldman Sachs fund flow expert: The US stock market has fallen after the election, we have entered the best Q4 trading period in nearly a century.

There are only 44 trading days left in 2024, and this year's trading has entered the final sprint stage. Goldman Sachs fund flow expert Rubner stated in a report released on October 28th Eastern Time that this Monday marks the beginning of the best fourth quarter trading period for US stocks based on data since 1928. It is also the start of the best trading period of the year during an election year, with the repurchase window for the largest buyers of US stocks reopening on Monday. US stocks are beginning to enter the best fourth quarter trading phase in nearly a century.

• The US Treasury Department has lowered its estimate for fourth-quarter federal borrowing mainly due to more cash reserves at the end of September than expected.

On Monday, the US Treasury Department lowered its estimate for this quarter's federal borrowing, stating that the net borrowing from October to December is now anticipated to be $546 billion, below the $565 billion estimated in July. The reduced borrowing demand for the US Treasury Department this quarter is primarily due to more cash reserves at the end of September than previously expected, although this increment is partially offset by lower net cash flows to some extent.

• Nomura warns: The market may be excessively hedging against Trump's trade, potentially leading to a "Harris accident".

Nomura Director and Americas Cross-Asset Macro Strategist Charlie McElligott warned in a recent report that in recent weeks, the market has been hedging excessively against the assumption of Trump and the Republican Party winning both houses of Congress, potentially leading to the scenario where Harris' support rate is higher than expected and the election becomes deadlocked. At that time, various assets will face reversal risks, such as US bonds potentially rising due to short covering, while the stock market may sharply decline if the Democratic Party becomes the majority in both houses of Congress.

• US oil plunged more than 6%, the worst in over two years, Citi lowered its oil price target.

On Monday, the WTI crude oil in the USA plunged more than 6%, marking the largest single-day decline in over two years. Prior to this, Iranian energy facilities were not damaged in the attacks launched by Israel over the past weekend, easing market concerns about further escalation in the Middle East. Analysts at Citigroup indicated in their latest report on Monday that the market is unlikely to believe that recent Israeli military actions would escalate oil supply issues. Citigroup lowered its future three-month Brent crude price forecast by $4 to $70 per barrel.

• Bitcoin once touched the $0.07 million mark, with funds flowing into US ETFs.

Bitcoin once touched the $0.07 million mark. Previously, cryptocurrencies fell across the board last Friday, with funds steadily flowing into US exchange-traded funds. According to CoinShares' report, the scale of funds flowing into digital assets last week reached $0.91 billion, driving the inflow scale to $27 billion year-to-date, nearly three times the record high in 2021. Options traders have been increasing their bets, expecting that whoever wins the US election, Bitcoin will reach $0.08 million by the end of November, hitting a record high.

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

• The three major US stock indexes collectively closed higher, with China concept stocks leading the large cap with an increase of over 4%.

On Monday, October 28, the three major US stock indexes closed higher, as geopolitical tensions cooling down boosted risk sentiment in the financial markets.

At the close, the Dow Jones Index rose by 0.65%; the S&P 500 Index rose by 0.27%; the Nasdaq Composite Index rose by 0.26% to 18,567.19 points, nearing historic highs.

Large-cap tech stocks had mixed performances. Apple rose by 0.86%, Meta rose by 0.86%, Google Class C rose by 0.81%, Amazon rose by 0.30%, Microsoft fell by 0.36%, Nvidia fell by 0.72%, Tesla fell by 2.48%.

In terms of China concept stocks, the Nasdaq China Golden Dragon Index rose by 4.05%, closing at the highest level since October 15.

Most popular China concept stocks closed higher, with Miniso up 10.51%, Nio up 10.46%, Xpeng up 8.98%, JD.com up 4.36%, Baidu up 3.72%, PDD Holdings up 2.71%, Alibaba up 2.58%, and Li Auto Inc up 1.18%.

• Apple released the iMac with the M4 chip, marking the official launch of the first phase of AI features.

$Apple (AAPL.US)$The company's devices enter a 'new era' as it introduces the initial features of the Apple Intelligence AI and unveils a new iMac desktop equipped with the M4 chip. The company announced on Monday that the new iMac starts at $1,299, offering faster processing speed and an enhanced neural network engine for AI tasks. This product will be launched on November 8. Additionally, Apple stated that its Apple Intelligence software is now available on iPhone, iPad, and Mac.

• Meta is developing an AI search engine to reduce dependence on Google and Microsoft.

$Meta Platforms (META.US)$Developing a search engine that can crawl the web, providing conversation answers on current events for users of the Meta AI chatbot. The company is attempting to keep pace with OpenAI in AI development. According to a person familiar with the search engine team, Meta hopes this will reduce reliance on Google Search and Microsoft Bing, as these search engines currently provide news, sports, and stock information to users of Meta AI.

• After-hours trading continued to rise by over 4%, betting on the rise, attracting individual investors, and Trump Media Technology Group surged nearly three times from its September low.

After-hours trading continued to rise by over 4%, under the pursuit of individual investors, former U.S. President Donald Trump's $Trump Media & Technology (DJT.US)$The momentum of five consecutive weeks of increases is still expanding, with the stock price soaring nearly three times from the low point on September 26. This yet-to-be-profitable company surged in value to over $9 billion as Trump's success in the gambling market rose.

• Eli Lilly's IL-23 inhibitor Omvoh has shown long-term efficacy in the treatment of ulcerative colitis and Crohn's disease.

$Eli Lilly and Co (LLY.US)$The research results released on Monday showed that Mirikizumab has long-term efficacy in ulcerative colitis (UC) and Crohn's disease. The pharmaceutical company claims that based on the results of two phase 3 studies for moderate to severe active UC and Crohn's disease, Omvoh is the first and only IL23p19 antagonist to report long-term, multi-year, sustained efficacy and safety for both diseases.

• Social media brokerage Robinhood enters the US presidential election gambling market, allowing users to bet on contracts for Harris or Trump.

About eight days left until the US presidential election, the emerging brokerage firm in the USA.$Robinhood (HOOD.US)$Hurry to announce, their users can now start betting on the results of the 2024 US presidential election. Starting from Monday, October 28th, Eastern Time, as long as users meet certain conditions, such as being US citizens, they can trade contracts about Harris or Trump on Robinhood. This new service is provided through Robinhood's derivatives department in collaboration with ForecastEx.

• Ford Motor's full-year adjusted EBIT outlook falls short of expectations.

$Ford Motor (F.US)$Adjusted EPS of $0.49 for the third quarter, analysts expected $0.49; Third-quarter revenue of $46.2 billion, analysts expected $41.88 billion; Expected full-year adjusted EBIT of about $10 billion, analysts expected $10.63 billion, the company originally expected $10 billion to $-12 billion; Still forecasting full-year adjusted free cash flow of $7.5 billion to $8.5 billion; Expected full-year capital expenditures of $8 billion to $8.5 billion, analysts expected $8.3-9 billion, the company originally expected $8 billion to $9 billion.

• Solar energy also aims to seize the opportunity in the AI era! Solar system giant Sunrun targets datacenter infrastructure.

Just last week,$Sunrun (RUN.US)$CEO Mary Powell said that the American residence solar energy provider is in discussions with data center developers to provide distributed solar power for their facilities. Powell mentioned at a distributed energy conference that Sunrun is exploring "several different, very cool models," which include collaborating with electrical utilities to offer customized solar systems for new data centers, or utilizing existing Sunrun systems in nearby community.

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.

• Beishui significantly increased its holdings in Alibaba by over 1.7 billion Hong Kong dollars and aggressively bought nearly 0.7 billion Hong Kong dollars worth of Xiaomi, while selling nearly 0.6 billion Hong Kong dollars of China Mobile.

On October 28 (Monday), southbound funds net bought 6.282 billion Hong Kong dollars of Hong Kong stocks.

$BABA-W (09988.HK)$,$XIAOMI-W (01810.HK)$,$GCL TECH (03800.HK)$Received net inflows of 1.711 billion Hong Kong dollars, 0.663 billion Hong Kong dollars, 0.344 billion Hong Kong dollars respectively;

$CHINA MOBILE (00941.HK)$,$SUNAC (01918.HK)$,$CNOOC (00883.HK)$Respectively suffered net sales of 0.583 billion Hong Kong dollars, 0.192 billion Hong Kong dollars, 91.03 million Hong Kong dollars.

• CNOOC announced its performance for the first three quarters, with a net income attributable to equity shareholders of 116.659 billion yuan, a year-on-year increase of 19.5%.

$CNOOC (00883.HK)$Achieved oil and gas sales revenue of approximately 271.43 billion yuan in the first three quarters, a year-on-year increase of 13.9%; with third-quarter revenue of 326.024 billion yuan, up 6.3% year-on-year, and net income of 116.659 billion yuan, a 19.5% increase year-on-year.

• Sinopec Corp's net profit attributable to shareholders for the first three quarters was 44.247 billion yuan, a decrease of 16.5% year-on-year.

$SINOPEC CORP (00386.HK)$Revenue in the first three quarters was 2366.541 billion yuan, a 4.2% decrease year-on-year, with a net profit of 44.247 billion yuan, a decrease of 16.5% year-on-year.

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: USA September JOLTs Job Openings, October Conference Board Consumer Confidence Index, Japan September Unemployment Rate

On Tuesday, in terms of economic data, the USA will release September JOLTs job openings, October Conference Board Consumer Confidence Index, August FHFA House Price Index and other data; Japan will release September unemployment rate.

In terms of performance, in the Hong Kong stock market$HSBC HOLDINGS (00005.HK)$Will release the latest performance in the US stock market.$D.R. Horton (DHI.US)$,$Alphabet-A (GOOGL.US)$,$Advanced Micro Devices (AMD.US)$The other company will also release its results.

Futubull Morning News:

History is the best teacher for the future. The answers in history books are invaluable.

——Munger

Editor/ping