Hot News

• Pre-Market Trading on Wednesday showed mixed results for the three major futures indexes.

• Most Growth Tech stocks rose in Pre-Market Trading, while Tesla and NVIDIA fell over 1%.

• Most China Concept Stocks also increased in Pre-Market Trading, with JD.com rising over 1%.

• Tesla officially enters Saudi Arabia.

$Tesla (TSLA.US)$ According to the official website, at the launch event in Riyadh, attendees will experience the future of autonomous driving through CyberCab and meet the humanoid robot Optimus. Tesla will showcase its future development guidelines in AI and robotics. Tesla did not specify which products will be launched in Saudi Arabia, but this entry may just be a precursor to the product. In 2023, Saudi Arabia hoped for Tesla to build a factory in the country, but later Musk denied this possibility. As it stands, both Tesla and Saudi Arabia have not reiterated any intent to build a factory.

• Apple officially announced 'WWDC25': it will kick off on June 9, focusing on the latest developments in Software.

Local time on Tuesday (March 25), $Apple (AAPL.US)$ announced that the annual Global Developer Conference (WWDC) will be held from June 9 to June 13, mainly in an online format. The company stated that WWDC25 will be open to all developers for free, focusing on the latest developments in Apple Software. In the opening keynote on June 9, Apple is expected to officially release new systems such as iOS 19, iPadOS 19, macOS 16, tvOS 19, watchOS 12 and visionOS 3.

• Google Pre-Market Trading fell 0.52%, executives: quantum computing may only be five years away from practical application.

An executive from Google researching quantum computers stated that he believes the technology is only five years away from practical application. Julian Kelly, Director of Google's Quantum AI Hardware, told that quantum computers may be able to conduct cutting-edge physics research and potentially generate new data. Kelly said in an interview broadcasted on Tuesday: "We believe that we are about five years away from a real breakthrough, and this practical application can only be solved on quantum computers." As of the time of publication, $Alphabet-A (GOOGL.US)$ Pre-Market Trading fell 0.5%.

• The new CEO of Nissan expressed the desire to seek partners, with Honda remaining a potential option.

Even though last month the historic cooperation negotiations with $Honda Motor (HMC.US)$ suddenly broke down, $Nissan Motor (ADR) (NSANY.US)$ The incoming CEO Ivan Espinosa still expressed an open attitude towards forming a partnership with Honda. Espinosa stated that the entry of the auto industry into Smart Automobile "will require a lot of work and investment, and may need some partners. Whether it's Honda or other partners, we remain open as long as it helps achieve our business vision." Currently serving as Nissan's Chief Planning Officer, Espinosa will officially take over the company on April 1. The struggling auto manufacturer previously missed the opportunity to become one of the largest car companies in the world after its negotiations with Honda to form a holding company broke down and is in urgent need of finding new development opportunities.

• Chewy saw a nearly 5% rise in pre-market trading, exceeding earnings expectations, with the CEO stating "strong active customer growth."

Pet supply retailer $Chewy (CHWY.US)$ In Pre-Market Trading, it rose nearly 5%, following the company's announcement of fourth quarter earnings and sales exceeding Analyst expectations. CEO Sumit Singh pointed out that revenue growth and profitability in the fourth quarter and for the fiscal year exceeded the high end of the company's guidance. "Our performance was supported by strong growth in active customers and compelling Autoship customer loyalty," Singh said.

• Dell's employee count decreased by 10% in the fiscal year 2025.

$Dell Technologies (DELL.US)$ In the annual report, it was stated that as of January 31, 2025, the company has approximately 108,000 employees, down from about 0.12 million in the same period last year. In the fiscal year 2025, the company remains committed to strict cost management and has taken certain measures to reduce costs, including limiting external hiring, employee restructuring, and other actions. These actions resulted in a reduction in the company's overall workforce.

• Dollar Tree rose over 4% in Pre-Market Trading due to better-than-expected earnings and plans to sell Family Dollar.

Discount retailer $Dollar Tree (DLTR.US)$ Reported better-than-expected fourth quarter earnings, with adjusted EPS of $2.29 for the quarter ending February 1, exceeding Analyst expectations of $2.19. The company also announced that it has reached a final agreement with Brigade and Macellum to sell its Family Dollar business for $1.01 billion. The company explained that in the fourth quarter, the assets of the Family Dollar business were determined to meet the criteria for classification as held for sale.

• GameStop surged 16% in pre-market trading, officially announcing that it will include Bitcoin in its financial reserves.

After-hours on Tuesday, $GameStop (GME.US)$ in a brief statement, it was indicated that the Board of Directors unanimously approved the updated investment policy, designating Bitcoin as the company's financial reserve asset. In the 10-K document, GameStop revealed that the company may invest a portion of cash, debt, or equity financing proceeds into Bitcoin in the future. "We have not set a limit on Bitcoin Hold Positions and may sell the Bitcoin we hold," GameStop added. Last month, Cohen released a photo with Michael Saylor, who is the Executive Chairman of the Software company. $Strategy (MSTR.US)$ Since 2020, strategy has designated Bitcoin as its primary financial reserve asset.

Global Macro

• A Federal Reserve voting member warned: inflation expectations out of control will destroy the interest rate cut plan.

Chicago Fed President and FOMC voting member Goolsbee warned that investors in the US bond market are expecting rising inflation, a signal that could be a "major danger signal" that might disrupt policymakers' plans for interest rate cuts. Goolsbee stated that he believes borrowing costs will "decrease significantly" in the next 12 to 18 months, but he cautioned that due to economic uncertainty, the next rate cut might need to be postponed longer than expected. The district Goolsbee represents includes Michigan, where many of the major Auto Manufacturers in the USA are headquartered. He said the next three to six weeks will be a "critical time for us to address a series of policy uncertainties."

• Both Goldman Sachs and Morgan Stanley are Bullish on US stocks: it is time to pause the 'sell on rallies' strategy.

With the gradual clarification of tariffs alleviating some key risks, Ilan Benhamou, a member of JPMorgan's stock derivatives sales team, wrote in a report to clients on Monday: "I think it may be time to change mindset and pause the 'sell on rallies' strategy. The market's biggest fear is not the impending tariffs, but the chaotic arrival of tariffs." Morgan Stanley strategist Michael Wilson and others believe that a weaker dollar will improve the earnings prospects of the US stock market, which has the potential to reverse the large-scale Capital Trend shift occurring in global markets since the beginning of this year.

• Tariffs ignite ahead of schedule! Copper prices hit a historic record, the era of copper scarcity may have already begun.

Sources indicate that the USA may impose tariffs on imported Copper within weeks, months ahead of the original decision deadline. In February of this year, President Trump directed the Commerce Department to investigate potential tariffs on Copper and to submit a report within 270 days, but now it is expected that this issue will be resolved more quickly. Some of these insiders stated that because Trump frequently mentioned plans to impose tariffs, the investigation seems merely procedural. An official familiar with the review process stated that the government is rapidly conducting the review and could reach a conclusion before the 270-day deadline. The White House declined to comment. In February, White House trade advisor Peter Navarro stated that the investigation would begin promptly.

• Is the storm in the US stock market not over? UBS Group: The shadow of Trump has not dissipated, and the S&P 500 is expected to decline another 8%.

Over the past week, the S&P 500 Index has shown signs of stabilizing and rebounding, but the US Consumer Confidence Index has declined for the fourth consecutive month, providing strong support for Bhanu Baweja's viewpoint. Bhanu Baweja noted that indicators such as employment expectations, spending prospects, and consumer confidence are all sending warning signals. He anticipates that as Analysts lower corporate earnings expectations for the next three to four months, the S&P 500 Index will drop to 5300 points, representing about an 8% decline from Tuesday's closing price of 5776 points. "If you told others three months ago that the US economy would slow down, you would have been collectively laughed at," Bhanu Baweja mentioned, "but now, the impacts of reduced immigration and decreased fiscal stimulus are suddenly reflected in the data."

• China is back! Goldman Sachs: The enthusiasm of foreign investment for increasing investments in China has surged to a four-year high.

Goldman Sachs' Chief China Equity Strategist, Liu Jinjing, released a report on Wednesday titled "China is Back (Global marketing feedback: China is back)". The report states that overseas investors' interest and participation in the Chinese stock market has risen to a nearly four-year high, while Goldman Sachs also reiterated its view that the current rally in the Chinese stock market will be more enduring than in September last year. Liu Jinjing also pointed out that, from the current situation, the impact of Trump's tariffs on the Chinese stock market is not as significant as it was during his first term, and that the Chinese Technology sector, represented by AI, has begun to show structural growth opportunities, while traditional economic sectors like Real Estate have also begun to show signs of recovery, all of which have led Goldman Sachs economists to be more optimistic about the outlook for China's economic growth.

Pre-Market Trading Top 20 by transaction volume.

Macro calendar reminders for the USA stock market.

(The following are all in Beijing Time)

22:30 USA Weekly EIA Crude Oil Inventory (10,000 barrels) as of March 21, and Strategic Petroleum Reserve Inventory (10,000 barrels) for the week.

Editor/Rocky