Hot news

• Three senior officials of the Federal Reserve expressed that they remain open to decisions regarding interest rates in December.

Three Federal Reserve officials made it clear on Monday that they expect the Federal Reserve to continue lowering interest rates next year, but did not commit to the next rate cut later this month. "Hawkish" member Waller expressed a preference for a rate cut in December; New York Fed President Williams stated that more rate cuts may be needed; "Hawkish" voter Bostic indicated an "open" attitude towards the December decision.

• Central Bank: Starting from the statistics of January 2025, the newly revised narrow money (M1) statistical caliber will be implemented.

According to the People's Bank of China website, the People's Bank of China has decided to implement the newly revised narrow money (M1) statistical caliber starting from the statistics of January 2025. The revised M1 includes: currency in circulation (M0), unit demand deposits, personal demand deposits, and customer reserve funds of non-bank payment institutions. Regarding the background of this revision, a relevant person in charge of the People's Bank of China stated that the money supply is the sum of financial instruments that undertake circulation and means of payment at a certain point in time, and is an important indicator for financial statistics and analysis.

• usa ISM manufacturing data better than expected, with signs of weak demand but now easing.

ISM Manufacturing Business Survey Committee Chairman Timothy Fiore stated that U.S. manufacturing activity contracted again in November, but at a slower pace than last month. Demand remains weak but may be calming, output has declined again, and input remains loose. Positive signs on the demand front include: the new orders index returning to the expansion zone, the new export orders index rising moderately, the order backlog index further retreating to the strong contraction zone, and the customer inventory index indicating a level just slightly above "too low."

• Can it still rise 4% this year? Morgan Stanley predicts that the s&p 500 index will reach a maximum of 6,300 points by the end of the year.

According to JPMorgan's traders, the S&P 500 index still has room to climb further by the end of the year even after the strongest rally since the early days of the internet bubble. The derivatives analyst at the firm stated that the most favored options trading bets on the US stock benchmark hitting 6,200 to 6,300 points this month. Based on the closing level of around 6,032 points last Friday, this means it could rise another 3%-4% by the end of the year.

• The debt burden of the USA continues to increase, raising concerns about fiscal sustainability.

Seema Shah, the chief global strategist at Xin'an Asset Management Company, stated that US Treasury bonds continue to rise, approaching 36 trillion dollars, raising questions about fiscal sustainability. By 2034, interest expenditures are expected to reach 1.71 trillion dollars, equivalent to 4.1% of GDP, further limiting fiscal flexibility. This increasing debt may exacerbate concerns about fiscal health, making the current challenges potentially more difficult to tackle.

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

• Chinese concept stock index has achieved three consecutive days of gains, with technology giants supporting the Nasdaq and S&P reaching new highs.

Most of the three major indices rose, with the Dow Jones Industrial Average down by 0.29%, the S&P 500 index up by 0.24%, and the Nasdaq Composite Index up by 0.97%; the S&P 500 index and Nasdaq reached new highs.

All seven giants of US stocks rose on Monday, with Apple increasing by 0.95% to reach an all-time high, Nvidia up by 0.27%, Amazon up by 1.36%, Google-A up by 1.50%, Microsoft up by 1.78%, META up by 3.22%, and Tesla, which released the latest version of its autonomous driving software, rising by 3.46.

Overall sentiment for Chinese concept stocks is good, with the Nasdaq Golden Dragon Index achieving three consecutive days of gains, closing up by 0.98% on Monday. Alibaba fell by 1.63%, Netease rose by 1.59%, PDD Holdings rose by 2.51%, Bilibili rose by 3.91%, Kingsoft Cloud rose by 10.91%, and Miniso rose by 14.04%.

• Super Micro Computer announced that no misconduct was found, and the stock price surged over 28%.

On Monday's close,$Super Micro Computer (SMCI.US)$it rose by 28.68%. The company's independent special committee previously announced that there was no evidence of misconduct by the board of directors or the audit committee, and it is expected that there will be no restatement of financial data. However, some "process errors" were indeed found during the investigation. The company stated that as part of the investigation committee's recommendations, it will appoint a new chief financial officer, chief compliance officer, and general counsel, and has appointed Kenneth Cheung, who previously served as vice president of finance, as the new chief accounting officer.

As of the time of publication, Super Micro Computer's stock continued to rise by over 2% in post-market trading.

• Intel's CEO suddenly retired, reportedly forced out by the board of directors.

Local time on Monday (December 2),$Intel (INTC.US)$It has been announced that CEO Pat Gelsinger will retire on December 1 and resign from the company’s board of directors. According to insiders, the conflict between Gelsinger and the board reached an irreparable level during last week's board meeting, with the board presenting the option of 'resignation or dismissal'.

Although the retirement news briefly caused Intel's stock price to rise over 5%, it ultimately closed down 0.5%, indicating that investors do not completely view the sudden departure of veteran Gelsinger as a bullish development.

• Nvidia has invested in Nebius Group NV, a European AI infrastructure company, which raised $0.7 billion.

On Monday (December 2), local time, the AI infrastructure company based in the Netherlands$NEBIUS (NBIS.US)$announced on its official website that it has reached a final agreement with selected institutions and investors to secure $0.7 billion in financing. Nebius stated that investors include venture capital firm Accel, chip giant Nvidia, and some accounts managed by Orbis Investments. Under the plan, Nebius will issue 33,333,334 Class A shares at a price of $21.00 per share.

As of the market close, Nebius Group NV’s stock rose over 17%.

• The head of Stellantis, the world's fourth largest auto manufacturer, has suddenly resigned early.

Last Sunday, Stellantis, the world's fourth largest auto manufacturer, suddenly announced that the board of directors accepted CEO Carlos Tavares' resignation. Media reports on Monday indicated that Tavares attempted to improve cash flow by "squeezing suppliers" in response to a sudden downturn in performance this year, raising concerns from the board. There were also disagreements between the parties regarding the strategy for electrification. Ultimately, the conflict ended with Tavares' resignation being advanced after pressure from the government, workers, and suppliers.

As of Monday's close,$Stellantis NV (STLA.US)$it declined by 6.29%, with a year-to-date drop of 43%.

• MicroStrategy has increased its bitcoin holdings for the fourth consecutive week, with total holdings reaching 38 billion dollars.

$MicroStrategy (MSTR.US)$It bought an additional 1.5 billion dollars' worth of bitcoin, marking the fourth consecutive week that this cryptocurrency hedge fund has purchased bitcoin. According to a document from the USA Securities and Exchange Commission (SEC), microstrategy acquired 0.0154 million bitcoins from November 25 to December 1. Since November 11, the company has purchased over 13.5 billion dollars' worth of bitcoin and currently holds approximately 38 billion dollars' worth of bitcoin.

• Tesla China: There are currently no plans to introduce the Cybertruck for sale in China.

According to reports,$Tesla (TSLA.US)$China's official website showcases a total of five models, but only the Cybertruck, which officially started delivery last December, does not offer an ordering option. Recently, news has spread about the Cybertruck potentially being introduced to China through official channels, attracting public attention. In response, Tesla China today denied this rumor to the media, stating that there are currently no plans for the Cybertruck to be sold in China.

• Musk's exorbitant salary has been rejected by the judge again.

According to the latest news after Monday's close, despite$Tesla (TSLA.US)$the recent reauthorization of CEO Musk's sizable options incentive from 2018 at this year's shareholder meeting, Delaware judge Kathaleen St. J. McCormick decided to uphold her ruling made in January. If Musk's appeal fails, it could have a massive impact on his wealth. According to calculations, this stock option plan was initially valued at 2.6 billion USD and skyrocketed to 56 billion USD by the time the judge canceled it, while it reached a value of 101.5 billion USD at Monday's close.

As a result, Tesla fell more than 1% in post-market trading on Monday.

If you want to play this game, you must believe in yourself and your judgment.

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.

• North funds aggressively bought tracker fund of hong kong近14 billion Hong Kong dollars, increased shareholding in alibaba by over 0.5 billion Hong Kong dollars, and sold nearly 1 billion Hong Kong dollars in meituan.

On December 2 (Monday), southbound funds net bought Hong Kong stocks worth 19.654 billion Hong Kong dollars.

$TRACKER FUND OF HONG KONG (02800.HK)$、$Hang Seng H-Share Index ETF (02828.HK)$、$BABA-W (09988.HK)$Net purchases were 13.886 billion HKD, 2.749 billion HKD, and 0.519 billion HKD respectively.

$MEITUAN-W (03690.HK)$、$XIAOMI-W (01810.HK)$、 $CHINA MOBILE (00941.HK)$Net sales of 0.955 billion Hong Kong dollars, 0.25 billion Hong Kong dollars, and 0.227 billion Hong Kong dollars were recorded.

• China Mobile proposed a tender offer to acquire HKBN at a price of 5.23 Hong Kong dollars per share.

$HKBN (01310.HK)$A non-binding preliminary intention has been received from I Squared Asia Advisors Pte Ltd., expressing interest in acquiring 100% of the company's issued shares. Additionally,$CHINA MOBILE (00941.HK)$A tender offer to acquire at a price of 5.23 Hong Kong dollars per share was proposed, which represents a premium of approximately 7.61% over the closing price on November 29.

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 October JOLTs job openings; Federal Reserve Governor Waller's speech; salesforce, marvell technology.

In terms of financial data, the USA will announce the JOLTs job openings for October.

In terms of financial events, Federal Reserve Governor Waller will deliver a speech, and New York Fed President williams will participate in a dialogue held by the Queens Chamber of Commerce.

In terms of financial reports, $Salesforce (CRM.US)$ 、 $Marvell Technology (MRVL.US)$ Will announce financial results after the US stock market closes.

Futubull Morning News:

Don't worry about what the market will do; worry about how you will react to the market.

——Michael Kahl

Editor/ping