Hot news
Pre-market trading in US stocks on Tuesday, with the three major futures indices slightly up.
Most growth tech stocks rise before the market, with Tesla up nearly 2%.
China concept stocks generally rise before the market, with Xpeng Auto up nearly 5%.
Trump Media DJT rises more than 9% before the market, as the US election is about to begin on a large scale.
$Trump Media & Technology (DJT.US)$ Up more than 9% before the market opens. According to previous reports, the results of the 'midnight vote' in the small town of Dixville Notch, New Hampshire, showed a tie between Harris and Trump, each receiving 3 votes. Starting from 19:00 on November 5th Beijing time (6:00 on November 5th US Eastern time), polling stations in most states in the US gradually opened, especially those on the East Coast, to begin the election process.
Palantir rises more than 14% pre-market, Q3 performance exceeds expectations, raising annual revenue guidance.
Data analysis company $Palantir (PLTR.US)$ Up more than 14% in pre-market trading, reporting at $47.26. The financial report shows that Palantir's revenue in the third quarter is $0.726 billion, a 30% year-on-year growth, exceeding market expectations; net income is $0.144 billion, reaching a historical high; earnings per share under non-GAAP are $0.10, higher than market expectations. The company has raised its full-year revenue guidance to $2.805 billion - $-2.809 billion, originally expected $2.74 billion - $-2.75 billion.
Super micro computer faces a new crisis under accounting scandal, rumored that Nvidia is transferring orders to other suppliers
According to insiders, $NVIDIA (NVDA.US)$ Currently transferring $Super Micro Computer (SMCI.US)$ The order issued was reassigned to other suppliers to contain the chaos in the AI server industry. Nvidia intervened to address the challenge from Super Micro Computer and stabilize the entire industry supply chain. Data indicates that Super Micro Computer plummeted nearly 45% last week, due to Ernst & Young resigning from auditing work over concerns about the company's governance and transparency. Previously, Super Micro Computer has been facing challenges with financial reporting. It was reported that if the company fails to submit financial statements by November 20, it will face the risk of delisting once again. In 2018, the company was delisted due to non-compliant financial reporting.
China concept electric vehicle stocks rose in pre-market trading, with impressive October delivery performance.
As of the time of publication, $XPeng (XPEV.US)$ Pre-market up nearly 5% $NIO Inc (NIO.US)$ Increased by nearly 3%. $Li Auto (LI.US)$ Ideal Auto delivered 51,443 vehicles in October, up 27.3% year-on-year. The historical cumulative delivery is 1.0266 million vehicles, making it the first new force car company to surpass one million deliveries. Xpeng delivered 23,917 vehicles in October, setting a new monthly delivery record, with a 20% year-on-year increase and a 12% increase from the previous month. Nio delivered 20,976 vehicles in October, up 30.5% year-on-year.
Boeing rose over 1% in pre-market trading, as workers voted to approve a new labor contract to end the strike.
$Boeing (BA.US)$ Pre-market trading saw a rise of over 1%, reaching $156.29. On the news front, workers at Boeing's US West Coast factory voted to approve the latest four-year contract proposal, ending a nearly eight-week strike, with work set to resume this Wednesday. Under the new agreement, employees will receive a 38% salary increase over four years, with additional benefits including a $120,000 signing bonus, the reinstatement of the annual bonus plan (AMPP), and increased contributions to the 401(k) retirement plan.
OpenAI reportedly in talks with California regulators to shift to a for-profit structure.
According to foreign media reports, OpenAI is in early discussions with the California Attorney General's Office regarding the procedures to change its corporate structure from a non-profit entity to a for-profit one. Regulators are likely to conduct a detailed review of OpenAI's intellectual property portfolio, including ChatGPT. OpenAI declined to comment on the reports of talks with regulators but stated in a release that any potential restructuring would ensure the continued existence and thriving of the non-profit entity, while enhancing the value of current stakes in OpenAI's for-profit entity and strengthening its ability to fulfill its mission.
Global macro
Voting begins on Election Day in the USA.
It is widely believed in the media that the 2024 election is the most contested presidential election in recent years in the USA. Key moments that market participants need to pay attention to include November 6th (Wednesday) 08:30-10:00 Beijing time, as seven swing states will complete their vote counting during this period, and the results of these seven swing states will largely determine the outcome of the presidential election. Some analyses suggest that the election results of this presidential election are unlikely to be announced on the election day of November 5th or the next day as usual in Eastern Time in the USA, but may take a few extra days to be revealed.
Wall Street's famous bearish investor "surrenders"! Bullish on s&p 500 rising to 6100 points by the end of the year.
Morgan Stanley strategist Wilson stated that after the end of the USA presidential election, as investors breathe a sigh of relief and the year-end FOMO sentiment kicks in, the s&p 500 index may continue to rise in the final stage of 2024. He mentioned that by the end of the year, the s&p 500 index may rise to 6000 points and possibly further to a high of 6100 points, but this year 'under any circumstances' will not exceed this level, as valuations are too high, and by 2025, growth is unlikely to accelerate and the pe ratio is unlikely to further expand.
Goldman Sachs continues to be 'overweight' on the China stock market! The latest forecast from Goldman Sachs: The potential ROI of A-shares and Hong Kong-listed stocks in the next year is expected to reach 20%.
Foreign capital's bullish sentiment towards China is getting stronger. One month after upgrading the Chinese stock market to 'overweight' on October 5, Goldman Sachs once again released research reports in favor of Chinese assets. In the report dated November 4 (Monday), Chief China Stock Strategist Liu Jingjin (Kinger Lau) and the team at Goldman Sachs Research Department maintained an 'Overweight' rating for Chinese A-shares and H-shares, expecting a potential ROI of around 20% for these markets in the next 12 months.
Prevent market turbulence! On the eve of the election day, the USA bitcoin ETF experienced a historic outflow of funds.
On November 5th, as the market prepares for the USA Election Day, the USA exchange-traded fund (ETF) for investing in bitcoin recorded the highest single-day net outflow of funds to date. According to data, 12 funds managed by BlackRock and Fidelity Investments experienced a capital outflow of $0.5795 billion on Monday. Digital asset traders are preparing for a period of intensified volatility post the USA Election Day. A 30-day indicator measuring the implied volatility of this major digital asset has reached its highest level since the global market crash in August.
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)
21:30 USA September Trade Balance (in billions of US dollars)
22:45 USA October S&P Global Services PMI final value
22:30 European Central Bank President Lagarde delivers keynote speech at an event in France
23:00 USA October ISM Non-Manufacturing PMI
02:00 USA November 5th 10-year Treasury Bond Auction - Awarded Interest Rate
Editor/new
