Hot news

• Powell: The economy is stronger than expected, the Federal Reserve can be more cautious in cutting interest rates, and the Trump administration cannot set a shadow Fed chair.

On December 4, Eastern Time, during the DealBook/Summit conference hosted by the New York Times, economic growth was stronger than expected when the Federal Reserve first cut rates in September, there is no reason not to continue strongly, inflation has risen slightly, and the Fed can be more cautious in cutting rates while searching for a neutral interest rate level; there is no concern about losing the Fed's independence, confidence in good relations with the Trump administration, and it is premature to determine the impact of Trump’s tariffs and other policies on the economic and interest rate outlook.

• Trump nominates cryptocurrency-friendly Paul Atkins as SEC chairman.

On December 4, Eastern Time, Trump announced the nomination of Paul Atkins, who served as an SEC commissioner during the Bush administration, as the next SEC chairman. After taking office, Atkins is expected to focus on reducing regulations and easing penalties for violations. Since 2017, Atkins has been dedicated to establishing best practices for the issuance and trading of digital assets as co-chair of the cryptocurrency advocacy organization, Token Alliance. Trump stated that Atkins recognizes the importance of digital assets and other innovations for making America greater than ever. Following this news, bitcoin briefly surpassed $99,000.

• Suddenly hawkish! Federal Reserve officials: The timing to slow down the rate cuts may be until 2025.

FOMC voter and St. Louis Fed President Bullard stated on Wednesday that given inflation is above expectations and concerns about the labor market are decreasing, it may be time for policymakers to slow down the pace of rate cuts.

• Federal Reserve Beige Book: Economic activity has slightly increased in most areas of the USA, and businesses are more optimistic about future demand.

On Wednesday, the Federal Reserve stated in its latest Beige Book report that after several months of little change, economic activity in the usa slightly increased in November. Although the growth in economic activity was generally small, expectations for growth in most regions and industries rose moderately. Businesses showed greater optimism about future demand, while consumer spending remained generally stable. Employment levels were flat or only slightly increased.

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

• The three major indices all reached new highs! Technology stocks and crypto concept stocks surged collectively.

As Fed Chair Powell commented appropriately on the usa economy, combined with a surge in stocks driven by positive earnings reports from AI applications and semiconductor sectors, the three major us stock indices all hit record highs.

As of Wednesday's close, the S&P 500 index rose by 0.61% to 6086.49 points; the nasdaq composite index increased by 1.3% to 19735.12 points; and the dow jones industrial average advanced by 0.69% to 45014.04 points, closing above 45000 points for the first time in history.

The seven technology giants worked together; nvidia rose by 3.48%, microsoft by 1.44%, amazon by 2.21%, google c by 1.77%, tesla by 1.85%, apple by 0.15%, and meta by 0.02%.

Crypto concept stocks in the us stock market surged across the board, with Iris Energy rising over 10%, microstrategy nearly 9%, Coinbase gaining nearly 7%, and cleanspark increasing over 5%.

• Marvell technology soared over 23% after earnings! Q3 results for fiscal year 2025 exceeded expectations, and Q4 guidance is strong.

$Marvell Technology (MRVL.US)$ After the earnings report, the stock surged over 23%, with third quarter performance and fourth quarter outlook both exceeding expectations. Analysts believe that Marvell is undergoing a business transformation. In the third quarter, sales of cutting-edge AI products offset the significant year-on-year decline in telecommunications, autos, and other sectors. Sales of data center products such as high-speed networking equipment and next-generation custom computing chips doubled year-on-year, reaching $1.1 billion.

• Salesforce shares soared nearly 11% post-earnings! Q3 revenue exceeded expectations.

$Salesforce (CRM.US)$ After a nearly 11% surge, the earnings report showed that Salesforce's third-quarter revenue was $9.44 billion, an 8% year-on-year increase, compared to market expectations of $9.35 billion; EPS was $1.58, against an expected $1.44. CEO Marc Benioff stated: "Agentforce is our complete AI system, driving a transformative change." He noted that the rise of autonomous AI agents is reshaping the global labor market and the way various industries operate.

• Nvidia concept stock NEBIUS has surged nearly 47% in three days, with Citron praising its potential to become the next "AI darling."

Nvidia concept stock $NEBIUS (NBIS.US)$ After a two-day surge of nearly 47%, Citron recently stated that Nebius's stock price has the potential to reach $60, based on a 'rough estimate' that assumes a 50% discount on its valuation relative to CoreWeave's price-to-earnings ratio. The research firm stated, 'Citron is very bullish on Nebius and believes it could become the next AI darling on Wall Street,' highlighting CEO Arkady Volozh's background and the company's decade-long partnership with nvidia.

• The CEO of the largest health insurance company in the usa was shot to death on the street.

According to disclosures from the new york police, the publicly listed company $UnitedHealth (UNH.US)$ The CEO of unitedhealth, Brian Thompson, was shot dead by an ambush gunman on Wednesday morning at the entrance of hilton worldwide in midtown Manhattan. The company was originally scheduled to hold its annual investor day event today, and Thompson had arrived early for preparations. UnitedHealth Group's latest market cap exceeds $560 billion, ranking 16th among publicly listed companies globally. The health insurance segment led by Thompson is the largest health insurance company in the usa, contributing nearly two-thirds of the group's revenue.

• More effective than Wegovy! Eli Lilly and co's weight loss drug Zepbound achieves an average weight loss of 20% over 72 weeks.

$Eli Lilly and Co (LLY.US)$ Recent research results show that participants using its weight loss drug Zepbound lost an average of 20% of their weight over 72 weeks, while those using $Novo-Nordisk A/S (NVO.US)$ Participants in the Wegovy trial lost 14%. The trial results confirmed early research conclusions that Zepbound's weight loss effects are significantly better than its competitors. By the close, Eli Lilly rose 2.03%, while Novo-Nordisk fell 0.21%.

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.

• Northern funds added over 0.5 billion Hong Kong dollars to China Construction Bank Corporation, bought nearly 0.4 billion Hong Kong dollars worth of CNOOC, and sold over 11 billion Hong Kong dollars in Tracker Fund of Hong Kong.

On December 4th (Wednesday), southbound funds net sold Hong Kong stocks worth 10.36 billion Hong Kong dollars.

$CCB (00939.HK)$ 、$CNOOC (00883.HK)$、$CHINA SHENHUA (01088.HK)$Net purchases were 0.524 billion Hong Kong dollars, 0.398 billion Hong Kong dollars, and 0.37 billion Hong Kong dollars respectively.

$TRACKER FUND OF HONG KONG (02800.HK)$、$Hang Seng H-Share Index ETF (02828.HK)$、$TENCENT (00700.HK)$Net selling of 11.071 billion HKD, 2.386 billion HKD, and 0.253 billion HKD 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: Number of initial jobless claims in the USA for the week ending November 30.

In terms of financial data, the number of initial jobless claims in the usa for the week ending November 30, the number of layoffs by challenger companies in November, the trade balance in October, and the global supply chain pressure index for November will be released successively.

Futubull Morning News:

Let the trend be your friend.
—— Peter Lynch

Editor/Somer