Hot news

• The Republican Party in the United States is close to complete control of both houses of Congress, only four seats away from winning the majority in the House of Representatives.

There are still 17 seats undecided in the US House of Representatives, and the Republicans only need to win four more seats to obtain complete control of the executive and legislative branches under the leadership of President Trump. According to the Associated Press, as of Monday, the Republicans lead the Democrats 214-204 in decided seats, and they need 218 seats to control the House of Representatives, which consists of 435 members.

• Lock in the finance minister target this week? The media reported that Trump tends to choose Wall Street veterans.

Recent news indicates that the final list of candidates for the next US Treasury Secretary may be finalized within this week. Media reports indicate that former Soros Fund manager Scott Bessent, hedge fund giant Paulson, and former US Trade Representative Lighthizer are all possible candidates for Treasury Secretary; the interviews for the Treasury Secretary will be held at Mar-a-Lago, with an expected five to eight candidates, each with a PPT presentation outlining their credentials and the person recommending them, for Trump to weigh how important this person is to his inner circle.

• Bitcoin is approaching $90,000, with the total market cap of global cryptos reaching a new high of $0.09 million.

Bitcoin continues to rise and breaks through the $0.089 million mark, facing the challenge of the $0.09 million mark.$Ethereum (ETH.CC)$Rising to $3345. At the same time, the total market cap of cryptos globally has surpassed the historical high set in November 2021, reaching $3.1 trillion.

• Goldman Sachs: Trump's 'Super Week' ends, the US stock market will enter a rotation market.

Goldman Sachs traders expect that after the trading market driven by the US election ends, rotational pressure will continue to be a significant feature of the market, as investors put funds into smaller companies and seek opportunities in cyclical/inflation themes. Goldman Sachs trader Mike Washington said that with the elections, the Federal Reserve, and the Bank of England each cutting interest rates by 25 basis points, yield (10-year US Treasury yield fell 7 basis points to 4.30% within a week) fluctuation rebound and the long-profit reporting cycle, investor fatigue has already emerged.

• The People's Bank of China: The incremental scale of social financing in the first 10 months was 27.06 trillion yuan, a decrease of 4.13 trillion yuan compared to the same period last year.

According to the central bank data, the increment of the social financing scale in the first ten months of 2024 amounted to 27.06 trillion yuan, a decrease of 4.13 trillion yuan compared to the same period last year. At the end of October, the broad money supply (M2) balance was 309.71 trillion yuan, a year-on-year increase of 7.5%. At the end of October, the balance of domestic and foreign currency loans was 258.18 trillion yuan, a year-on-year increase of 7.5%. The RMB loan balance at the end of the month was 254.1 trillion yuan, a year-on-year growth of 8%. RMB loans increased by 16.52 trillion yuan in the first ten months, and RMB deposits increased by 17.22 trillion yuan.

• Pan Gongsheng: Improve policy tools to deal with abnormal stock market volatility and maintain the stable and healthy operation of the financial market.

China's People's Daily Online announced that PBOC Governor Pan Gongsheng delivered a report on the financial work situation at the request of the State Council. Pan Gongsheng stated the importance of improving policy tools to deal with abnormal stock market fluctuations, maintaining the stable and healthy operation of financial markets. This includes promoting the coordinated investment and financing functions of the stock market, as well as expanding channels for overseas investors to invest in domestic capital markets. Pan Gongsheng also mentioned guiding financial capital to invest early, invest small, invest long-term, and invest in hard technology in order to meet the financing needs of tech-oriented companies at different stages of their lifecycle. The report also emphasized the drafting of financial laws and collaborating with the Standing Committee of the National People's Congress to advance the subsequent review of financial stability laws and anti-money laundering laws.

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

• US stocks hit a new high, with the S&P 500 index surpassing 6000 points! Tesla surged more than 9%.

US stocks collectively closed higher, reaching new historic highs, with the 'Trump trade' still in full swing. Tesla and crypto concept stocks soar together; smaller companies are seen as potential beneficiaries of Trump's proposed tax cuts and relaxed regulations. From Election Day closing to this past Friday's close,E-mini Russell 2000 Index increasing by 6.1%, while during the same period$S&P 500 Index (.SPX.US)$increasing by 3.7%.

As of the Monday close, the Dow rose 0.69%, the Nasdaq rose 0.06%, and the S&P 500 index rose 0.10%. In addition, the Russell 2000 index rose 1.47%, reaching its highest level since November 2021.

Large-cap technology stocks were mixed, with Tesla continuing to soar nearly 9%, Google A rising 1.13%, Netflix up 1.29%, Intel down over 4%, Apple down 1.2%, NVIDIA down 1.6%, Microsoft down 1.03%, Meta down 1%, Amazon down 0.61%.

Most popular China concept stocks rose, Nasdaq Golden Dragon Index closed up 0.59%. XPeng Autos surged over 5%, Li Auto rose nearly 3%, JD.com, Alibaba rose over 1%. iQIYI fell over 1%, Gaotu Techedu fell over 5%.

• "Trump Trade" remains hot, with surging cryptos concept stocks.

"Trump Trade" remains hot. $Tesla (TSLA.US)$ Rise more than 7%, $Trump Media & Technology (DJT.US)$ Rises more than 3%. $Bitcoin (BTC.CC)$ Approaching the $0.09 million mark, cryptos concept stocks soared. $Bit Digital (BTBT.US)$ Up over 26%. $Canaan (CAN.US)$ Increased by 41%. $MARA Holdings (MARA.US)$ rising nearly 30%, $Riot Platforms (RIOT.US)$ rising nearly 17%, $MicroStrategy (MSTR.US)$ Increased by nearly 26%.

• Tesla continued to soar by 9%, boosting Elon Musk's wealth by $16.2 billion in a single day.

$Tesla (TSLA.US)$ On Monday, in the US market, it closed up nearly 9%, pushing Elon Musk, the world's richest man, to yet another level of wealth. Data from the Forbes Billionaires List shows that Musk's wealth increased by $16.2 billion in a single day, reaching a total of $320.2 billion. Some analysts believe that the biggest beneficiaries of Trump's victory will be Tesla and Musk. With the Trump administration in power, Tesla and other companies may face less regulation. In addition, Musk revealed that Tesla is improving the design of the Optimus robot to address key bottlenecks in the production process.

• MicroStrategy bought another 0.0272 million bitcoins.

On Monday local time, the U.S. listed company MicroStrategy, globally known for "hoarding bitcoins", $MicroStrategy (MSTR.US)$ announced that the company bought another 0.0272 million bitcoins. It is worth mentioning that this transaction is MicroStrategy's largest single bitcoin transaction since buying 29,646 bitcoins in December 2020. MicroStrategy disclosed that between October 31 and November 10 this year, the company used $2.03 billion raised through issuing shares to purchase approximately 27,200 bitcoins, with an average transaction price of $74,463 per bitcoin.

• Zeekr rose over 14%, and Zeekr 7X delivered more than 20,000 units in 50 days after listing.

$ZEEKR (ZK.US)$ Closing surged more than 14%. On the news front, Zeekr's first home SUV, Zeekr 7X, has delivered over 20,000 units in just 50 days since its listing, once again setting the record for the fastest delivery of luxury pure electric vehicles. With outstanding product performance that balances performance and comfort, suitable for both urban and off-road environments, Zeekr 7X meets the travel expectations of young families seeking both family comfort and personal enjoyment, gaining wide user recognition. According to statistics, by October 2024, Zeekr 7X had become the best-selling pure electric SUV model in China with sales of over 200,000 units.

• Nvidia's Blackwell supplier Chip Source Systems drops dramatically! Analysts support: No technological problems.

Previously, Edgewater Research pointed out problems with the Chipsource system ( $Monolithic Power Systems (MPWR.US)$ ), which could result in Blackwell losing the opportunity to supply components to $NVIDIA (NVDA.US)$ Nvidia, causing the stock price to drop by nearly 15%. However, Rosenblatt analyst Mosesmann believes that the product is problem-free, and if there are real issues, Nvidia will notify the company. Despite the potential decrease in Chipsource's share of Blackwell chips, it will still remain a major supplier with hopes of retaining a large market share, leading to a narrowing of the stock price decline.

• The engine may be experiencing a malfunction, and the US regulatory authorities have launched an investigation into Honda Motor.

On Monday local time, the National Highway Traffic Safety Administration in the USA is conducting an investigation into complaints involving as many as 1.4 million Honda and Acura vehicles potentially experiencing engine failures. The agency stated that the connecting rod bearings in these vehicles equipped with 3.5-liter V6 engines may fail, resulting in complete engine failure. $Honda Motor (HMC.US)$ Reportedly, Honda recalled about 250,000 vehicles in November 2023 to address this issue. The National Highway Traffic Safety Administration in the USA indicated that they received 173 complaints from car owners stating that their vehicles' connecting rod bearings were failing, yet they were not included in the recall.

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.

• On Monday, November 11, southbound capital had a net inflow of 9.865 billion Hong Kong dollars into Hong Kong stocks.

$TRACKER FUND OF HONG KONG (02800.HK)$、$Hang Seng H-Share Index ETF (02828.HK)$、$XIAOMI-W (01810.HK)$Received a net buy of 3.492 billion Hong Kong dollars, 1.351 billion Hong Kong dollars, and 1.185 billion Hong Kong dollars respectively;

$CNOOC (00883.HK)$、$TENCENT (00700.HK)$、$PING AN (02318.HK)$Net sell-offs of 0.43 billion Hong Kong dollars, 0.32 billion Hong Kong dollars, and 0.305 billion 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: Occidental Petroleum, Home Depot, Sea and others will release financial reports, Federal Reserve Board member Waller will deliver a speech.

On Tuesday, in terms of economic data, the USA will release the NFIB Small Business Confidence Index, the United Kingdom will release the unemployment rate, the number of unemployment benefit claimants, Germany will release the final value of the CPI monthly rate, and the ZEW Economic Sentiment Index.

In terms of performance, the US stock market $Home Depot (HD.US)$ 、 $Shopify (SHOP.US)$ 、 $Sea (SE.US)$ Will release financial report in pre-market trading. $Occidental Petroleum (OXY.US)$ 、 $MARA Holdings (MARA.US)$ 、 $Spotify Technology (SPOT.US)$ Will release financial report after the market closes; as for Hong Kong stocks, $TME-SW (01698.HK)$ Financial report will be released today.

In terms of financial events, in the evening, Federal Reserve Board of Directors Waller delivered a speech at a banking conference, and in 2024, FOMC voter and Richmond Fed Chair Barkin delivered a speech; the next morning, FOMC voter and Minneapolis Fed Chair Kashkari participated in a financial investment conference titled "New Challenges, New Opportunities" hosted by Yahoo in 2026.

In terms of new stocks, $GUOFUHEE (02582.HK)$ Application closed.

Futubull Morning News:

Investing for me is both a sport and entertainment. I like to 'capture rare fast-moving elephants' by searching for good prey.

- Warren Buffett

Editor/Rocky