Hot News
Citigroup: It suggests that investors seize the opportunity of a potential pullback in the S&P 500 Index, with a target level of 6,500 points by the end of next year.
Citigroup analysts recommended to clients on Monday to seize the opportunity for a potential pullback in the S&P 500 Index in early 2025, citing that the fundamentals of US stocks are robust and long-term growth drivers are expected to help S&P 500 constituent companies achieve double-digit earnings growth again. Citigroup noted that valuations and implied growth expectations set a high standard for next year's fundamentals and emphasized their optimistic outlook for S&P 500 constituent companies in a non-cyclical macro environment.
Citigroup currently sets the target level for the S&P 500 Index at 6,500 points by the end of 2025, expecting the index's EPS to reach $270. However, Citigroup also acknowledges some risks, including the Federal Reserve's tapering of easing measures and speculative asset bubbles.
Key manufacturing indicators in the USA have collapsed! The Chicago PMI unexpectedly plummeted to near the lows experienced during the pandemic.
On Monday, MNI's Chicago Purchasing Managers' Index (PMI) indicated a significant decline in December, nearing the lows observed during the COVID-19 lockdown, suggesting a severe contraction in the manufacturing sector of the Chicago area. The December Chicago PMI in the USA was 36.9, well below the expected 43, with the previous value in November at 40.2. Among economists surveyed by the media, the most pessimistic expectation was also 40. A reading of 50 indicates the boundary between expansion and contraction.
The U.S. stock market will be closed on January 9 to mourn former president Carter's passing, a tradition that has been in place for a hundred years.
The Nasdaq Stock Exchange, the New York Stock Exchange, and the Cboe Global Markets all issued a market closure announcement on Monday, declaring a full-day trading halt on January 9 of next year in memory of former President Carter. In addition to the stock market closure, the bond market will close early at 2 PM New York time, according to the recommendations of the Securities Industry and Financial Markets Association. This announcement comes in the context of the passing of Jimmy Carter, the 39th president of the USA, who died last Sunday at the age of 100. He was also the longest-lived president in American history.
It is expected that the East Coast of the USA will be colder than usual in January, and natural gas prices in the USA surged by 20% at one point.
Natural gas Futures prices soared on Monday, reaching a new high not seen in 52 weeks, after reports indicated that temperatures in the USA would be colder than usual in January. February natural gas Futures rose about 15% in trading, following the latest outlook released by The Weather Co. and Atmospheric G2 on Sunday, which showed that temperatures in the eastern region next month are expected to be below average, particularly from Florida to Maine and in certain areas of the Great Lakes.
News of individual stocks
The S&P 500 and Nasdaq dropped more than 1% for two consecutive days, while NVIDIA rose against the trend.
Last night and this morning, the US stock market experienced a rise after a significant drop at the opening for the second consecutive trading day. Ultimately, the S&P and Nasdaq fell more than 1% for two days in a row.
As of Monday's close, the S&P 500 Index fell by 1.07%; the Nasdaq Composite Index fell by 1.19%; the Dow Jones Industrial Average fell by 0.97%.
At the close on Monday, technology giants were almost all down except for NVIDIA, which rose 0.35% against the trend. Among them, Tesla fell 3.3%, Meta fell 1.43%, Apple fell 1.33%, Microsoft fell 1.32%, Amazon fell 1.09%, and Google C fell 0.7%.
Chinese concept stocks generally fell on Monday. At the close, Xpeng fell 6.06%, Li Auto fell 4.79%, PDD Holdings fell 3.14%, Baidu fell 2.94%, Bilibili fell 2.34%, NIO fell 2.12%, JD.com fell 2.06%, and Alibaba fell 1.08%.
The antitrust investigation has been passed, and NVIDIA has officially completed the acquisition of the AI startup Run:ai.
According to confirmation from the two companies on December 30,$NVIDIA (NVDA.US)$they have completed the acquisition of the Israeli AI startup Run:ai. The founder of Run:ai stated in a blog post that the company plans to open source its software, "Although Run:ai currently only supports NVIDIA's GPUs, open sourcing the software will allow it to expand to the entire AI ecosystem." The European Commission announced unconditional approval of the acquisition proposal on the 20th of this month, stating that the transaction would not raise competition issues within the European Economic Area.
Media: ByteDance plans to spend 7 billion USD on NVIDIA chips next year.
According to an exclusive report from the American technology media The Information, Chinese tech giant ByteDance, which is making a strong push into AI, plans to spend up to $7 billion to purchase $NVIDIA (NVDA.US)$chips and has informed suppliers of this plan. It is reported that ByteDance co-founder Zhang Yiming has been negotiating with data center operators in Southeast Asia and other overseas regions to ensure access to NVIDIA's next-generation most powerful Blackwell chips when they are launched next year.
In the past two weeks, the number of new Tesla users increased by 0.1 million, and LiveOne's stock price surged over 23%.
On Monday local time, the American music and radio media company.$LiveOne (LVO.US)$Closed up 23.53% as the company announced that its collaboration with Tesla brought in over 0.45 million users, with 0.1 million new users added in the past two weeks. The company disclosed that one-quarter of these users are free (but listen to ads), listening to 50 minutes of programming daily in their cars.
Ackman 'promotes' Fannie Mae and Freddie Mac stocks, both closing up over 30%.
Noted American investor and Trump supporter Bill Ackman openly stated.$FEDERAL NATIONAL MORTGAGE ASSOC (FNMA.US)$and$FREDDIE MAC (FMCC.US)$The stock price provides a "huge asymmetrical upside potential." Ackman believes that there will be a credible path for the federal government to exit its custodianship of these two companies during Trump's next term. In addition to removing $8 trillion of debt from the government balance sheet, it could bring an extra $300 billion in profit to the U.S. government, which would be a "big deal" that Trump would like.
After Ackman's comments, Fannie Mae's stock rose 36.14% on Monday, and Freddie Mac's stock also surged by 33.87%.
Is bullish confidence weakening? MicroStrategy's weekly Bitcoin purchases continue to decline.
$MicroStrategy (MSTR.US)$The latest Bitcoin purchase data disclosed on Monday shows that its weekly purchasing volume has further decreased, closing down more than 8% on Monday. According to securities documents, the company purchased $0.209 billion worth of Bitcoin at an average price of $97,837 each between December 23 and December 29, and currently holds a total of 446,400 Bitcoins, with a total value of approximately $41.4 billion based on Monday's price of $92,678 each.
Hesai Technology's stock rose over 8%, and Lidar deliveries reached a milestone.
Hesai Technology announced on Monday that the company delivered over 100,000 Lidar units in December, becoming the first company in the industry to reach this milestone. Hesai also announced that the Lidar delivery volume in the robotics market exceeded 20,000 units in December, setting a new record. The company expects its capacity to reach 2 million units by 2025. This news drove the stock up.$Hesai (HSAI.US)$It closed up 8.73% on Monday.
Faraday Future rose more than 12% in after-hours trading, announcing that it will unveil the FX prototype vehicle at the CES exhibition in January next year.
$Faraday Future Intelligent Electric Inc. (FFIE.US)$ It closed up 78.41% on Monday, and the company announced it will unveil the FX prototype vehicle at the CES exhibition in January next year and provide a strategic update. Additionally, the company announced that entrepreneur Luke Hans will participate in the delivery ceremony of the FF 91 2.0 Futurist Alliance electric vehicle in January 2025, which is reportedly the 15th FF 91 delivered by Faraday Future.
As of the time of writing, Faraday Future rose 12% in after-hours trading.
Top 20 by trading volume
Hong Kong market outlook
Northbound funds increased their holdings in Semiconductor Manufacturing International Corporation by over 1.6 billion HKD, bought more than 1 billion HKD in UBTECH, and sold more than 0.7 billion HKD in MEITUAN-W.
On December 30 (Monday), southbound funds net bought Hong Kong stocks worth 7.351 billion HKD.
$SMIC (00981.HK)$、$UBTECH ROBOTICS (09880.HK)$、$XIAOMI-W (01810.HK)$Net purchases of 1.604 billion Hong Kong dollars, 1.055 billion Hong Kong dollars, and 0.856 billion Hong Kong dollars respectively;
$MEITUAN-W (03690.HK)$、$TENCENT (00700.HK)$、$BABA-W (09988.HK)$Net sales of 0.762 billion Hong Kong dollars, 0.331 billion Hong Kong dollars, and 10.41 million Hong Kong dollars respectively.
Today's focus
Keywords: Hong Kong stock half-day market, China's December Composite PMI, Official Manufacturing PMI, Non-Manufacturing PMI, USA's October FHFA Housing Price Index month-on-month.
On Tuesday, in terms of economic data, China will announce December Composite PMI, Official Manufacturing PMI, Non-Manufacturing PMI and other data. The USA will announce the October FHFA Housing Price Index month-on-month and the October S&P/CS 20-City Composite Home Price Index year-on-year.
In addition, on the eve of New Year's Day, the Hong Kong stock, Singapore stock, and Australian stock markets will close in the afternoon; the Japanese stock market will be closed all day.
Futubull Morning News:
It's not buying and selling that makes big money, but waiting.
——Charlie Munger
Editor/ping
