Hot news

• South Korea's late night surprise: Yoon Suk-yeol suddenly launched a state of emergency, with the parliament resisting the military's vote to veto.

Overnight, a major event occurred in the South Korean political arena: first, South Korean President Yoon Suk-yeol announced the first emergency state of emergency since the Chun Doo-hwan era, followed by the military's parachute drop into the parliament to prepare for the arrest of opposition party members. However, after the parliament resisted the pressure and voted to reject the state of emergency, Yoon Suk-yeol made another live broadcast announcing the abandonment of the state of emergency. Overnight, in the U.S. stock market trading, $iShares MSCI South Korea ETF (EWY.US)$ the decline initially plunged by over 7%, narrowing to 1.5%. South Korean regulatory agencies stated that they are prepared to deploy a 10 trillion Korean won stock market stability fund at any time.

• Will there be a rate cut in December? The Federal Reserve's voting members this year have been "playing Tai Chi": regardless of whether they lower rates or not, interest rates should continue to decline.

Regarding whether the monetary policy meeting held on the 17th to 18th of this month will decide to continue to cut interest rates, the latest remarks from Federal Reserve officials indicate that they are playing "Tai Chi". Mary Daly, President of the Federal Reserve Bank of San Francisco, who has the voting rights for the Federal Open Market Committee (FOMC) meeting this year, stated that it is still uncertain whether there will be a rate cut this month, but a rate cut is still within the range of considerations for Federal Reserve decision-makers. Also on Tuesday, Lael Brainard, a long-time FOMC member with voting rights during her tenure at the Federal Reserve, almost did not indicate whether she favored a signal of a rate cut at this month's meeting. Instead, she said the Fed will make decisions at each meeting and that the current Fed policy is prepared to deal with uncertainties.

• With the help of AI, the U.S. 'Cyber Monday' sales surpassed 13 billion U.S. dollars, a 7.3% year-on-year increase.

According to a report by adobe, usa consumers reached an online spending of 13.3 billion dollars this year on "Cyber Monday", which is a 7.3% increase compared to Cyber Monday in 2023, surpassing the 10.8 billion dollars spent online on Black Friday. Caila Schwartz, director of consumer research at Salesforce, stated that generative ai tools can answer basic product queries from online shoppers, helping retailers protect their profit margins despite rising costs.

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

• Nasdaq and S&P hit new highs again! Apple continued its seven-day winning streak and reached a historic high.

While global investors watched the historic turbulence in South Korea's political scene, the US stock market continued to rise, with the S&P 500 index and Nasdaq reaching new all-time highs.

As of Tuesday's close, the S&P 500 index rose by 0.05%, marking the 55th time this year to achieve a record closing high; the Nasdaq Composite Index rose by 0.4%; the Dow Jones Industrial Average fell by 0.17%.

Most tech giants rose, with Apple up 1.28% hitting a new all-time high, Microsoft up 0.05%, Amazon up 1.3%, Nvidia up 1.18%, Google C up 0.02%, Musk's compensation package triggered a 1.59% drop in Tesla, Meta rose 3.51%, and Intel faced an uncertain future with a sharp 6.1% decline.

The Nasdaq Golden Dragon China Index rose 1.16% on Tuesday, marking the fourth consecutive trading day of gains. Stocks related to the 'guilt economy' concept saw Miniso rise by 9.64%, JinkoSolar up by 7.13%, New Oriental up by 6.54%, Nio up by 5.45%, Alibaba down by 0.31%, JD.com down by 0.99%, Baidu down by 0.62%, PDD Holdings down by 0.54%, and Tuya Inc up by 5.17%.

• Palantir rose nearly 7%, hitting a new all-time high, with its cloud computing service receiving 'high authorization' certification.

$Palantir (PLTR.US)$ Up nearly 7% overnight, hitting another historical high. On the news front, Palantir announced that its cloud computing services have received the 'High Authorization' certification from the Federal Risk and Authorization Management Program (FedRAMP) in the USA, allowing the company to provide services to more US government agencies.

• Soaring over 10% after hours! Marvell Technology's Q3 results for the 2025 fiscal year exceeded expectations, with strong guidance for Q4.

$Marvell Technology (MRVL.US)$ Surging over 10% after hours. The results show that the third-quarter revenue was $1.52 billion, higher than the analyst consensus of $1.46 billion, a 6.84% year-on-year increase; earnings per share were $0.43, higher than the analyst consensus of $0.41, compared to $0.41 in the same period last year. Looking ahead, Marvell Technology expects to continue its momentum, with projected fourth-quarter revenue of $1.8 billion (+/-5%), surpassing the market consensus of $1.65 billion.

• Rising over 10% after hours! Salesforce's Q3 revenue for the 2025 fiscal year exceeded expectations. The CEO stated that Agentforce is driving a breakthrough transformation.

$Salesforce (CRM.US)$ In post-market trading, US stocks surged by more than 10%, with third-quarter revenue of $9.44 billion, an 8% year-on-year increase, market expectations were $9.35 billion; earnings per share were $1.58, exceeding market expectations of $1.44. CEO Marc Benioff said, "Agentforce is our company's comprehensive AI system, driving a groundbreaking transformation." He pointed out that the rise of autonomous AI agents is reshaping the global labor market and operational methods in various industries.

• The 'Little Donald Trade' stirs up the stock market, and the stock price doubles after Trump's eldest son joins the company.

According to reports, informed sources revealed that Donald Trump Jr., the son of US President-elect Trump, will join the board of directors of PSQ Holdings, Inc., the parent company of the online market PublicSquare. As a result of this news, the stock price surged by over 270%, reaching the highest level since July this year. $PSQ Holdings (PSQH.US)$ Stock price soared over 270%, reaching the highest level since July this year.

• Okta surged over 16% in post-market trading, with Q3 performance exceeding expectations and full-year guidance revised upwards.

$Okta (OKTA.US)$ In post-market trading, stocks surged by over 15%, with third-quarter revenue of $0.665 billion, a 14% year-on-year increase, market expectations were $0.65 billion; adjusted net income was $0.121 billion, a 53% year-on-year increase. Revenue for the fourth quarter is expected to be between $0.667 billion and $0.669 billion, while analysts expect $0.651 billion; adjusted earnings per share for the fourth quarter are expected to be between $0.73 and $0.74, while analysts expect $0.67.

• Tesla's 'bullish' investor announced no longer being ALL-IN.

Tesla's third largest individual shareholder, Leo KoGuan, recently stated that he is reducing his holdings in Tesla and reallocating funds to short-term US Treasury bills. He mentioned that he is selling Tesla stocks and increasing positions in US 3-month Treasury bills.

• Meta is also seeking nuclear power trade.

Reports on Tuesday indicate that the US tech giant Meta is seeking partners to start using nuclear reactors to power data centers in the early 2030s. Urvi Parekh, the global energy lead at Meta, stated that the company is open to various ideas regarding the scale, type, location of reactors, and is looking for partners who will be involved from the project's inception to completion. Meta is also willing to share costs in the early stages of development and has purchasing power when the project goes online.

Top 20 in transaction volume

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.

• Temasek bought nearly 0.6 billion Hong Kong dollars of Alibaba and sold more than 1.3 billion Hong Kong dollars of Tracker Fund of Hong Kong.

On December 3 (Tuesday), northbound funds net bought 0.295 billion Hong Kong dollars of Hong Kong stocks.

$BABA-W (09988.HK)$、$EVEREST MED-B (01952.HK)$、$SH ELECTRIC (02727.HK)$Received net purchases of 0.58 billion Hong Kong dollars, 93.05 million Hong Kong dollars, 32.9 million Hong Kong dollars respectively;

$TRACKER FUND OF HONG KONG (02800.HK)$、$MEITUAN-W (03690.HK)$、$TENCENT (00700.HK)$Net sells of 1.34 billion Hong Kong dollar, 0.575 billion Hong Kong dollar, 0.38 billion Hong Kong dollar 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: China's November Caixin PMI; USA's November ADP employment numbers; European Central Bank President Lagarde's speech; dollar tree.

In terms of financial data, the USA's November ADP employment numbers, the final value of the USA's November S&P Global services PMI, the USA's November ISM non-manufacturing PMI, the USA's October factory orders month-on-month rate, and the USA EIA crude oil inventory data for the week ending November 29 will be released successively.

In terms of financial events, St. Louis Fed President Mursi Laem delivered a speech, and European Central Bank President Lagarde made introductory remarks at the European Parliament's Committee on Economic and Monetary Affairs hearing.

In terms of financial reports, $Dollar Tree (DLTR.US)$ Will announce financial results after the US stock market closes.

Futubull Morning News:

Visiting stores and testing products are key elements of an analyst's work.
—— Peter Lynch

Editor/Somer