Hot news
The Federal Reserve's Beige Book: The US economy and prices are growing slowly, and the overall outlook is more pessimistic to a certain extent
On Wednesday, May 29, EST, the Federal Reserve released the Economic Situation Survey Report prepared by 12 local federal banks — the Beige Book. According to the Beige Book report, most regions reported a “slight or moderate” increase in economic activity from early April to mid-May. According to the analysis, the Beige Book's overview of the US economy is generally positive, but retail spending, employment, prospects, etc. reflect more of a negative situation.
US companies are increasingly pessimistic about the economic outlook, according to the Federal Reserve survey
According to a survey released by the US Federal Reserve (Fed) on Wednesday, US economic activity continued to expand from early April to mid-May, but business pessimism about the future heats up due to weak consumer demand and a moderate rise in inflation. Federal Reserve officials are currently considering how long it will take to keep interest rates at current levels.
The US White House introduced a package of nuclear power support policies to promote the development of the SMR and enriched uranium industry chains
On Wednesday local time, the US White House issued a series of policies to promote the construction of the nuclear industry and deployed a special working group to study and resolve issues such as the slow progress of nuclear power plant construction and the surge in costs. The announcement issued by the White House on Wednesday outlined the Biden administration's various nuclear power support policies, which can be broadly divided into four areas: providing funds to support the extension of service of existing nuclear power plants, promoting the deployment of new nuclear power plants, simplifying the licensing process for approval and expansion of existing nuclear power plants, and promoting the development of supply chains such as enriched uranium.
Resumption of US stock trading
Stock indexes collectively closed down, Nvidia reached a new high, Faraday's future plummeted by 62%
On Wednesday EST, the three major US stock indices collectively closed down, as US bond yields rose further, reducing the attractiveness of risky assets, and expectations of the Federal Reserve's interest rate cut were once again suppressed. By the close, the Dow was down 1.06%, the NASDAQ was down 0.58%, and the S&P 500 was down 0.74%.
Most popular tech stocks fell. Among them, Microsoft fell 0.27%, Amazon fell 0.07%, META fell 1.16%, Google-A fell 0.28%, Tesla fell 0.32%, Nvidia rose 0.81%, and Apple rose 0.16%.
Faraday's future plummeted 62%, after the company claimed that due to various reasons, the company may never be able to achieve or maintain profits.
Popular Chinese securities generally fell, and the Nasdaq China Golden Dragon Index fell 0.86%. Weibo fell nearly 3%, Xiaopeng Motors, iQiyi, and Bilibili fell more than 2%, and JD, Alibaba, NetEase, Baidu, and Ideal Auto dropped more than 1%.
Revenue fell short of expectations for the first time in 18 years, and guidance was poor. Cloud computing service giant Salesforce fell nearly 16% after the market
$Salesforce (CRM.US)$Revenue for the first fiscal quarter was 9.13 billion US dollars, and analysts expected 9.15 billion US dollars; according to some analysts, this is the first time since 2006 that the company's quarterly revenue fell short of market expectations. Adjusted earnings per share for the first fiscal quarter were $2.44, and analysts expected $2.38; revenue for the second fiscal quarter was estimated at US$9.2 billion to US$9.25 billion, and analysts expected US$9.35 billion. As of press release, the stock fell nearly 16% after the market, having previously fallen by more than 17%.
Build the best performance of your phone! Arm Unveils CPU and GPU Architectures for AI Features in Next-Generation Flagship Phones
$Arm Holdings (ARM.US)$Announcing new chip blueprints and software tools to help smartphones handle artificial intelligence (AI) tasks, while also changing the way these blueprints are delivered to accelerate their adoption. Arm has unveiled a new central processing unit (CPU) design, which it says is more suitable for artificial intelligence work and a new graphics processing unit (GPU). It will also provide software tools to make it easier for developers to run chatbots and other artificial intelligence code on Arm chips.
Apple plans to develop custom chips for confidential computing to protect user privacy
According to previous reports$Apple (AAPL.US)$Employees revealed that for the past three years, Apple has been working on a secret project, internally called the Apple Data Center Chip (ACDC), which will be handled in a black box. Its approach is conceptually similar to confidential computing, meaning that data is confidential even during processing.
Apple announced that it will develop a TV+ app for Android phones
Apple is looking for a senior engineer to help develop a TV and sports app for Android, marking the company's finally bringing its TV+ service to rival smartphone platforms. This move shows that Apple is seeking market share in the video streaming sector and shelving competition with Android to attract more users.
HP's net revenue for the second fiscal quarter was slightly better than expected
$HP Inc (HPQ.US)$Net revenue for the second fiscal quarter was US$12.8 billion, and analysts expected US$12.6 billion; adjusted earnings per share for the second fiscal quarter were US$0.82, and analysts expected US$0.81; adjusted earnings per share for the third fiscal quarter were expected to be US$0.78-0.92, and analysts expected US$0.85; estimated full-year adjusted earnings per share of US$3.30-3.60, with the company's original forecast of US$3.25-3.65; maintaining the FCF forecast of US$3.1 billion to US$3.6 billion. Analysts expected US$3.13 billion.
C3.ai rose more than 8% after the market, revenue for the fourth fiscal quarter exceeded expectations, and the performance outlook was better than expected
$C3.ai (AI.US)$Revenue for the fourth fiscal quarter was $86.6 million, and analysts expected $84.4 million. Revenue for fiscal year 2025 is estimated at $370 million to $395 million, and analysts expect $367.5 million. An adjusted loss of $0.11 per share is expected for the first fiscal quarter, and analysts expect a loss of $0.30. Revenue for the first fiscal quarter is estimated at US$84 million to US$89 million, and analysts expect US$86.1 million. As of press release, the stock was up more than 8% after the market.
No agreement was reached with British and American Resources, and BHP Billiton abandoned the $49 billion bid plan
$BHP Group Ltd (BHP.US)$Said it wouldn't be right$ANGLO AMERI PLC (NGLOY.US)$A clear takeover offer was put forward, temporarily abandoning the biggest mining deal in more than a decade. Anglo-American Resources Group issued a statement on May 29 saying that there is no reason to further extend the tender offer deadline. BHP Billiton Group said earlier in the day that it needed more time to engage with Anglo-American Resources. The Anglo-American Resources Group had previously rejected BHP Billiton's £38.6 billion (about 49 billion US dollars) takeover offer.
MSD buys ophthalmology company EyeBio for $3 billion
On Wednesday EST, US pharmaceutical giants$Merck & Co (MRK.US)$It was announced that the ophthalmic biotech startup EyeBio will be acquired for $3 billion to expand its ophthalmic pharmaceutical product line. The acquisition has been unanimously approved by the EyeBio board of directors. According to reports, MSD will first pay 1.3 billion US dollars in cash, and then another 1.7 billion US dollars based on how EyeBio achieves certain goals. As part of the deal, MSD will acquire ownership of EyeBio's retinal disease drug RestoreT.
Bank of America: Raised Dell's target price to $180, optimistic about the development trend of artificial intelligence and new product launches
Bank of America General$Dell Technologies (DELL.US)$The target price was raised from $130 to $180 due to: 1) AI server demand, 2) storage demand driven by IBM (167.05, -2.61, -1.54%) mainframe update expectations, and 3) demand from PC updates. According to the bank, Dell is still an undervalued and undervalued stock, has a potential catalyst for artificial intelligence, and is likely to be included in the S&P Index.
Hong Kong Market Outlook
Beishui bought the Agricultural Bank for nearly HK$800 million and continued to sell Yingfu Fund for over HK$500 million
On May 29 (Wednesday), Southbound made a net purchase of HK$6.774 billion in Hong Kong stocks.
$ABC (01288.HK)$,$CNOOC (00883.HK)$,$ICBC (01398.HK)$Received net purchases of HK$786 million, HK$439 million and HK$336 million respectively;
$TRACKER FUND OF HONG KONG (02800.HK)$,$CHINA MOBILE (00941.HK)$Net sales were HK$503 million and HK$72.47 million respectively.
Today's attention
Keywords: revised US GDP, number of initial jobless claims; Federal Reserve Williams, Bostic; Costco, Dell financial reports
On Thursday, in terms of economic data, the revised value of the US real GDP annualized quarterly rate for the first quarter, the number of jobless claims for the week up to May 25, the monthly rate of the existing housing contract sales index in April, and EIA crude oil inventories for the week up to May 24 will soon be announced.
In terms of major financial reports,$Costco (COST.US)$,$Dell Technologies (DELL.US)$Financial reports will be released.
Futubull Chen read:
Invest in businesses rather than stocks.
—Buffett
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