Hot news

• Year-end U.S. stock market has been rising since Donald Trump's election victory! Goldman Sachs fund flow experts predict institutions have FOMO psychological cycle.

Goldman Sachs research fund flow experts stated that the year-end rally in the U.S. stock market started with Donald Trump's election victory, and it may rise even higher than investors anticipate. Following the October decline in the U.S. stock market, he does not rule out a larger scale market rebound led by fund rotation. Rubner said that in the best trading quarter of this year, the mechanical rebalancing flow of funds will form a feedback loop of institutional concern about missing out on the trend due to FOMO psychology.

• Wall Street reduces bets on Fed rate cuts, increasing bets on Europe's ECB rate cuts.

The results of the US presidential election were announced, and the Republican candidate Donald Trump was elected. Some Wall Street big banks have reduced their bets on the Fed cutting rates next year, while at the same time, they have increased their bets on the ECB cutting rates in the future. The market also holds similar views, as traders have cut back on their bets for Fed rate cuts next year, with an expected cumulative rate cut of 100 basis points by September next year, and have increased their bets on ECB rate cuts, with an expected cumulative rate cut of 30 basis points by December.

• Trump secures the White House! The US bond market is undergoing a huge wave, and the Fed's policy is facing a major test.

On November 6th local time, Republican presidential candidate Donald Trump secured more than half of the electoral votes, locking in his victory in the U.S. presidential election. Influenced by this news, the U.S. 10-year Treasury notes yield, known as the 'anchor of asset pricing,' rose by 18 basis points intraday, reaching a high of 4.479%, the highest level since July. The 2-year U.S. bond yield, which is most closely related to the Federal Reserve interest rate expectations, rebounded to a high not seen since August.

• Mortgage rates surged along with the rise in U.S. bond yields, reaching their highest levels since early July this year.

Donald Trump's victory has pushed up the U.S. 10-year treasury notes yield, and related mortgage rates have also risen. According to 'Daily Mortgage News' data, the average rate for 30-year fixed-rate mortgages surged by 9 basis points on Wednesday to 7.13%, the highest level since July 1 this year. John Burns, CEO of a real estate consulting firm, pointed out: 'Builder stocks are highly sensitive to mortgage rates and rate expectations. The current rise in inflation expectations has affected long-term rates.'

• Jefferies Financial: The implementation pace of Trump's policies will dominate the future trend of the US dollar.

Brad Bechtel, Global Head of Forex at Jefferies Financial Group, stated that with Donald Trump's election as U.S. president, the dollar started strong, but future trends will largely depend on the pace of policy implementation. 'Over time, I can see the potential for a continued rise in the dollar, but I don't think it will be immediately repriced,' Bechtel said. In Trump's first term, as he navigated his way in Washington, with more experience, he could more quickly advance tariff and regulatory reforms.

• First European Central Bank official to speak out after Trump's victory: closely monitoring, inflation may face significant impact.

On Wednesday, November 6th, Eastern Time, Luis de Guindos, Vice President of the European Central Bank, issued a warning at an event in London that if Trump really follows through on his high tariffs on commodities as he said during his campaign, the global economy and inflation could suffer a devastating blow.

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

• Trump's trading shook the market, with all three major indices hitting historic highs.

With the unexpected election results of former U.S. President Trump, the U.S. market experienced the ultimate emotional release of the 'Trump trade.' Coupled with the diminishing uncertainty of the U.S. election, all three stock indexes set historic highs in last night's and this morning's trading.

As of the close on Wednesday, the S&P 500 index rose 2.53%, which is also the best election day performance in the history of the index, according to statistics. Meanwhile, the Nasdaq index rose 2.95%, and the Dow Jones Industrial Average rose 3.57%.

Most tech giants strengthened, with Qualcomm up 4.27%, Nvidia up 4.07%, Google-A up 3.99%, Amazon up 3.80%, Microsoft up 2.12%, while Meta and Apple fell by 0.07% and 0.33%.

Chinese concept stocks retreated overall on Wednesday, with the Nasdaq Golden Dragon Index in China falling by 1.83%. Among them, Alibaba fell by 2.5%, Baidu by 1.04%, PDD Holdings by 1.29%, JD.com by 3.40%, Nio Inc by 5.3%, and Xpeng by 3.98%.

• Trump concept stocks surged overnight, with Tesla skyrocketing over 14%, and Coinbase soaring over 31%.

Benefiting from the news of Trump's victory, his biggest supporter Musk's companies rose over 14% overnight.$Tesla (TSLA.US)$Surged more than 14% overnight; $Bitcoin (BTC.CC)$Then refresh the historical high above $0.076 million, concept stocks$Coinbase (COIN.US)$Surging over 31%.

• Bank of America stocks surged, with multiple bank indices hitting historic highs, the market bullish on Donald Trump relaxing financial regulations.

With the victory of Donald Trump, investors are betting that he will fulfill his promises to reduce taxes and relax banking regulations. Trump vowed during his campaign to reduce the corporate tax rate from 21% to as low as 15%. This signal has been interpreted positively for bank stocks. Overnight,$KBW Nasdaq Bank Index (.BKX.US)$closing up 10.7%, hitting a high since February 2022,$Spdr Series Trust S&P Regional Bkg Etf (KRE.US)$ closing up 13.4%, hitting a high since August 2022.

• Steel stocks rose across the board, potentially benefiting from Donald Trump's tariff policies.

Overnight, steel stocks closed higher across the board. $Cleveland-Cliffs (CLF.US)$up more than 20%, $Nucor (NUE.US)$up over 15%, $Gerdau (GGB.US)$rose more than 12%. On the news front, the market is focusing on whether Trump's election will lead to similar measures as in 2018 to impose tariffs on imported steel. It is reported that the Trump administration imposed a 25% tariff on imported steel and a 10% tariff on imported aluminum in 2018.

• Good news for the mobile phone market: Qualcomm's profits increased by over 30% last quarter, this season's guidance surpasses expectations, and rose more than 6% after hours.

Qualcomm's performance in the third quarter exceeded expectations across the board, with total revenue up 19% year-on-year. Revenue from mobile chip increased by 12%, revenue from automotive chip surged by 68% far beyond expectations; Fourth quarter revenue guidance is up to 14%, EPS guidance is up to 11%, analysts expect revenue to increase by less than 6%, and EPS to increase by over 2%. Qualcomm announced a new share buyback plan for the first time in three years, planning to repurchase $15 billion. As of the press time,$Qualcomm (QCOM.US)$up over 6%.

• After-hours trading fell by more than 5%, ARM's second quarter total revenue was $0.844 billion, below analysts' estimates

ARM's second quarter total revenue was $0.844 billion, below analysts' estimate of $0.8109 billion; Adjusted earnings per share for the second quarter were 30 cents, estimated to be 26 cents. The company expects revenue of $0.92 billion to $0.97 billion in the third quarter, while analysts project $0.9509 billion. As of the press time,$Arm Holdings (ARM.US)$After-hours trading fell by more than 5%.

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 net bought over 21 billion Hong Kong dollars in Hong Kong stocks, sweeping Tracer Fund nearly 9 billion Hong Kong dollars, and increasing their positions in Ping An Insurance by nearly 0.8 billion Hong Kong dollars.

On November 6 (Wednesday), the net inflow of funds from the mainland into Hong Kong stocks was 21.487 billion Hong Kong dollars.

$TRACKER FUND OF HONG KONG (02800.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$and$PING AN (02318.HK)$They respectively received a net purchase of 8.944 billion Hong Kong dollars, 1.265 billion Hong Kong dollars, and 0.79 billion Hong Kong dollars.

$SMIC (00981.HK)$Received net selling of 26.77 million Hong Kong dollars.

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.

Key Words: Semiconductor Manufacturing International Corporation financial report, U.S. initial jobless claims for the week, Bank of England interest rate decision

On Thursday, in terms of economic data, the U.S. will release data such as the U.S. initial jobless claims for the week ending November 2, and the U.S. September wholesale sales monthly rate; the Eurozone will release the September retail sales monthly rate.

In terms of performance, in the Hong Kong stock market $SMIC (00981.HK)$ the latest performance will be released, and in the US stock market $Unity Software (U.US)$Please use your Futubull account to access the feature.$Duke Energy (DUK.US)$Please use your Futubull account to access the feature.$Petroleo Brasileiro SA Petrobras (PBR.US)$ and other companies will also be releasing their financial reports.

In terms of financial events, the Bank of England announced the interest rate decision and meeting minutes.

Futubull Morning News:

Although I also rely on income for a living, I am more obsessed with the process than the income.

- Warren Buffett

Editor/ping