Hot News

• In Pre-Market Trading on Friday, the three major futures indices fell slightly.

• Most Growth Tech stocks weakened in Pre-Market Trading.

• China Concept Stocks collectively fell in Pre-Market Trading.

• NIO's revenue in Q4 2024 is 19.703 billion yuan, a year-on-year increase of 15.2%.

$NIO Inc (NIO.US)$ In Q4 2024, revenue is expected to be 19.703 billion yuan, a year-on-year increase of 15.2%; adjusted net loss is 6.622 billion yuan, a year-on-year increase of 37.9%. Additionally, NIO delivered 72,689 units in Q4 2024, setting a new record. The company expects vehicle deliveries in the first quarter to be between 41,000 and 43,000 units, a year-on-year increase of 36.4% to 43.1%; total revenue is expected to be between 12.367 billion yuan and 12.859 billion yuan, a year-on-year increase of approximately 24.8% to about 29.8%. As of the time of reporting, NIO fell nearly 4% in Pre-Market Trading.

• Micron Technology's Datacenter revenue tripled in Q2, and the Q3 guidance exceeded expectations.

$Micron Technology (MU.US)$ In the second fiscal quarter, adjusted revenue was 8.05 billion USD, a year-on-year increase of 38%; non-GAAP net income was 1.78 billion USD, with EPS of 1.56 USD. Among them, Q2 Datacenter revenue increased threefold year-on-year, and the revenue guidance for the third fiscal quarter also exceeded Analyst expectations, potentially setting a historical high. As of press time, Micron fell over 3% in Pre-Market Trading, after previously rising over 1%.

• Fearless of the stock price plummeting by 40%! Musk encouraged employees at the Tesla all-hands meeting to "continue holding shares".

$Tesla (TSLA.US)$ CEO Musk held an all-hands meeting in Texas on Thursday, attempting to assure employees that despite Tesla facing difficult times, the future is bright; since the beginning of this year, Tesla's stock price has plummeted nearly 40%, primarily due to the gloomy sentiment in the USA stock market and consumer boycotts triggered by Musk's political stance; Musk told employees that they should now 'hold tight' to Tesla stocks, as the future of Tesla relies on Siasun Robot&Automation and autonomous driving. As of press time, Tesla had a slight rise in Pre-Market Trading.

• FedEx fell over 9% in Pre-Market Trading, further lowering its earnings guidance for the year due to tariff impacts.

$FedEx (FDX.US)$ Fell over 9% in Pre-Market Trading, the company's third fiscal quarter revenue was 22.2 billion USD, a year-on-year increase of 2.3%, better than Analyst expectations of 21.91 billion USD; adjusted EPS was 4.51 USD, a year-on-year increase of 16.8%, but still lower than the Analyst expectation of 4.54 USD. In addition, FedEx lowered its EPS guidance for fiscal year 2025 from 20-22 USD to 19-20 USD last December, and further cut it to 18-18.6 USD, adjusting the revenue guidance from year-on-year flat to flat or slightly down, reflecting the lagging impact of tariff policies on cross-border trade.

• In Q4, MINISO's revenue increased by 22.7% year-on-year, with the gross margin reaching a new high, and the number of overseas stores exceeding 3,000.

$MINISO (MNSO.US)$ Revenue in the fourth quarter grew by 22.7% to 4.71 billion RMB, with a gross margin of 47.0%, up 3.9 percentage points year-on-year, marking an increase for eight consecutive quarters. MINISO's Global Strategy achieved significant results in Q4, with the number of overseas stores surpassing 3,000, reaching 3,118, an annual net increase of 631 stores.

• The only losing Business of Apple revealed: a survey claims that the streaming service loses 1 billion dollars every year.

$Apple (AAPL.US)$ Since the launch of its streaming platform in 2019, more than 5 billion USD has been spent annually on content, yet surveys indicate continued losses; it is estimated that Apple TV+ currently has 45 million subscribers, far below$Netflix (NFLX.US)$0.3 billion users; although 1 billion USD is not considered a "large sum" for Apple, the losses have raised concerns among investors about its streaming service, and Apple also faces challenges in AI.

• Quantum stocks continue to weaken in Pre-Market Trading, Huang Renxun: unaware that Quantum companies have gone public.

On Thursday, Huang Renxun announced the establishment of a Quantum Computing research laboratory in Boston, USA. During the Thursday$NVIDIA (NVDA.US)$Annual Software Development Conference, Huang Renxun stated that he was previously unaware that there were Quantum companies already listed, and this statement once again led to the collapse of Quantum Computing concept stocks. As of the time of publication, $Quantum Computing (QUBT.US)$ down over 12%, $SEALSQ Corp (LAES.US)$ down over 11%.

Global Macro

• The first "Triple Witching Day" of the year has arrived! Options worth over 4.5 trillion dollars are facing expiration.

Today, the US stock market welcomes its first "Triple Witching Day" of the year, which casts a layer of uncertainty over the market. Goldman Sachs estimates that over $4.7 trillion in nominal Options exposure will expire on the 21st, including $2.8 trillion in SPX Options and $645 billion in nominal individual stock Options. However, some Analysts indicate that after experiencing a period of market volatility, the Options expiration on Friday may actually help restore calm to the market.

• "New Fed News Agency": The Federal Reserve's forecast points to "stagflation," and expectations for a "recent interest rate cut" are changing, while investors have not fully recognized this.

Timiraos published an article stating that "stagflation" may make it difficult for the Federal Reserve to preemptively prevent economic slowdown through interest rate cuts this year. While some officials still expect two rate cuts this year, the expectations for a "recent rate cut" are changing, which seems not to have been fully recognized among investors.

• Citi warnshard landingRisks may trigger a historic rally in Gold, with Gold prices rising for eight consecutive days aiming for $3,500.

Citi Research has raised its forecast for Gold Futures prices over the next three months to $3,200 per ounce, an increase of $200 from the previous estimate. If concerns about worsening economic troubles in the USA continue, gold prices could rise to $3,500 by the end of the year. Citi stated: "In our view, gold prices will reach $3,500 per ounce before the end of the year due to concerns over a hard landing/stagflation in the USA, with a significant increase in hedging/investment demand supporting gold prices."

Pre-Market Trading Top 20 by transaction volume.

Macro calendar reminders for the USA stock market.

(The following are all in Beijing Time)

At 20:30, 2025 FOMC voting member and Chicago Fed President Goolsbee will participate in a CNBC program.

At 21:05, FOMC permanent voting member and New York Fed President Williams will deliver a speech.

At 23:00, US President Trump and US Defense Secretary Hegseth will give a speech in the Oval Office.

Editor/Somer