Hot News
In March, the PPI in the USA unexpectedly decreased by 0.4% month-on-month, while the three major stock index futures in the USA slightly rose.
In March, the PPI in the USA increased by 2.7% year-on-year, with expectations of a 3.3% increase and a previous value of 3.2%. The month-on-month PPI in the USA unexpectedly decreased by 0.4%, marking the largest decline since October 2023, while an increase of 0.2% was expected, and the previous value was revised from unchanged to an increase of 0.1%.
Growth Tech stocks in pre-market trading rose broadly. $Taiwan Semiconductor (TSM.US)$ rising over 3%, $ASML Holding (ASML.US)$ An increase of over 1%, $NVIDIA (NVDA.US)$ 、 $Advanced Micro Devices (AMD.US)$ Increased by nearly 1%.
China Concept Stocks show strong performance in Pre-Market Trading. $Zai Lab (ZLAB.US)$ It surged over 15%. $Kingsoft Cloud (KC.US)$、 $XPeng (XPEV.US)$ Increased by over 7%, $Bilibili (BILI.US)$、 $Li Auto (LI.US)$ 、 $JD.com (JD.US)$ Increased by over 4%.$Alibaba (BABA.US)$Gained more than 2%.
Cryptocurrency Concept Stocks are rising in Pre-Market Trading. $Strategy (MSTR.US)$ Increased by over 4%.$MARA Holdings (MARA.US)$Increased by over 2%.$Coinbase (COIN.US)$Up nearly 2%. Bitcoin returned to above the $82,000 mark during the day, with an intraday increase of 3%.
Pre-Market Trading for Gold Stocks in the USA rose along with gold prices.$Gold Fields (GFI.US)$rising over 5%,$Harmony Gold Mining (HMY.US)$Up over 4%. Spot gold surged fiercely, breaking through the $3,230 per ounce mark during the day, refreshing the historical high once again.
Pharmaceutical development-related Concept stocks surged in Pre-Market Trading, with Simulations Plus up over 20%, as the USA FDA abandoned the principle of animal testing.
Pharmaceutical development-related Concept stocks collectively surged in Pre-Market Trading.$Simulations Plus (SLP.US)$Increased by over 20%,$Certara (CERT.US)$Increased by nearly 19%,$Recursion Pharmaceuticals (RXRX.US)$Increased by nearly 14%. In terms of news, the FDA has announced that it will gradually abandon animal testing routes for many drugs such as monoclonal antibodies, turning to pursue "more effective human-related research methods."
JPMorgan has increased by over 2.5% in Pre-Market Trading, with Q1 adjusted revenue exceeding expectations, and has raised the estimated net interest income for this fiscal year.
$JPMorgan (JPM.US)$ After the earnings report, there was a short-term surge, initially rising over 4% in Pre-Market Trading and now increasing over 2.5%. In the first quarter, Morgan Stanley reported adjusted revenue of 46.01 billion USD, exceeding expectations of 44.39 billion USD; the first quarter EPS was 5.07 USD; the first quarter FICC sales and trading revenue was 5.85 billion USD, with expectations of 5.99 billion USD. Morgan Stanley still expects total spending for the year to be around 95 billion USD; net interest income for the current fiscal year is estimated to be about 94.5 billion USD, up from the previous estimate of 94 billion USD.
Morgan Stanley initially surged over 3% in Pre-Market Trading, with first quarter net revenue of 17.7 billion USD better than expected.
$Morgan Stanley (MS.US)$ Pre-Market Trading for the US stocks initially rose nearly 3%, now up over 1%. Morgan Stanley's first quarter net revenue was 17.7 billion USD, with expectations of 16.56 billion USD; the first quarter EPS was 2.60 USD; the first quarter revenue from stock sales and trading operations was 4.13 billion USD.
Wells Fargo & Co rose over 1.5% in pre-market trading, with Q1 revenue at 20.15 billion USD.
$Wells Fargo & Co (WFC.US)$ There was an increase of over 1.5% in Pre-Market Trading. Wells Fargo's Q1 revenue in 2025 was $20.15 billion, expected to be $20.73 billion; first quarter net interest income was $11.5 billion, expected to be $11.81 billion; EPS for the first quarter was $1.39, with commercial banking business revenue of $2.93 billion. Wells Fargo still expects total annual expenses to be around $54.2 billion; it estimates net interest income growth of 1%-3% for the entire fiscal year.
JD.com saw its US stock rise over 4% in Pre-Market Trading, announcing a 200 billion yuan export to domestic sales support plan.
$JD.com (JD.US)$ US Pre-Market Trading is up over 4%. On April 11, JD.com announced the launch of a 200 billion export-to-domestic sales support plan. Over the next year, JD.com will make large-scale purchases of no less than 200 billion export-to-domestic sales products to help foreign trade enterprises quickly expand into the domestic market.
Chinese milk tea chain Heytea initiates IPO in the USA.
On April 10, local time in the USA, the Chinese pearl milk tea chain.$Chagee Holdings (CHA.US)$is seeking to conduct an initial public offering (IPO) in the USA, aiming to raise 0.411 billion USD. Documents submitted to the U.S. Securities and Exchange Commission (SEC) show that the company plans to issue 14.68 million American Depositary Shares (ADS) at a price of $26-28 per share.
Global Macro
Continue to retaliate! The State Council Tariff Commission: starting April 12, the tariff rate on the USA will be increased from 84% to 125%, and subsequent U.S. tax increases will be ignored.
The State Council Tariff Commission announced that the adjusted tariff rates stipulated in the "Announcement of the State Council Tariff Commission on Adjusting Tariff Measures on Imported Commodities Originating from the USA" will be raised from 84% to 125%. Given the current tariff level, there is no market acceptance possibility for US goods exported to China. If the US continues to impose tariffs on Chinese goods exported to the USA, China will disregard it.
Trump: Very much hopes to reach an agreement with China to end the escalating trade war.
According to Reuters, US President Trump said on Thursday that he very much hopes to reach an agreement with China to end the escalating trade war. Trump made the statement during a cabinet meeting open to the media. US Treasury Secretary Scott Bassenet said at the meeting that as agreements are reached with various countries, trade policy will become more certain.
The European Union warns the USA: If no agreement is reached within 90 days, it may impose taxes on American Technology companies.
European Commission President Ursula von der Leyen stated that the EU will seek to reach a "fully balanced" trade agreement with Washington during the 90-day suspension of "reciprocal tariffs" set by Trump. However, she also warned that if the negotiations fail, the EU is prepared to expand the transatlantic trade war from commodities to services. Von der Leyen specifically pointed out that tariffs on US service trade may include "taxes on advertising revenue from digital services," which will directly impact American tech giants like Meta, Google, and Facebook.
The Federal Reserve officials sharply criticized Trump's policies: tariffs have caused "stagflationary shocks"!
On Thursday local time, Chicago Fed President and 2025 FOMC voting member Goolsbee made an unusually harsh criticism of Trump's policies. He described tariffs as "stagflationary shocks" and said this could challenge the Federal Reserve's ability to respond. Goolsbee stated, "There is no one-size-fits-all template for how central banks should respond to stagflation shocks."
JP Morgan: Although President Trump has suspended "reciprocal tariffs", it is uncertain whether this will continue to drag down US stocks.
David Kelly, Chief Global Strategist at Morgan Stanley Asset Management, warned that despite President Trump's 90-day delay on his "reciprocal tariffs," the uncertainty surrounding tariffs will continue to weigh on the US stock market. According to Kelly, the biggest tax on the American economy imposed by Washington right now is the "tax of uncertainty." He believes the White House has not done enough to eliminate tariff uncertainties, which makes it difficult for the US stock market to achieve a lasting rebound.
The USD has fallen below the 100 mark, and the US bond market continues to see selling pressure.
The USD weakened across the board, with the USD index falling below the 100 level for the first time since July 2023. As the dollar continues to decline, the US Treasury bond market extends its selling momentum, with the ten-year US Treasury yield rising to 4.45%, an increase of about 45 basis points this week, the largest increase since 2001. Analysts and investors point out that the violent sell-off of US Treasuries and the weakness of the dollar this week signal a wavering confidence in the world's largest economy.
Pre-Market Trading Top 20 by transaction volume.
Macro calendar reminders for the USA stock market.
(The following is in Beijing time)
20:30 US March PPI year-on-year.
At 22:00, the 2025 FOMC voting member, St. Louis Fed President Bullard, will deliver a speech on the USA's economy and monetary policy.
At 23:00, FOMC permanent voting member and New York Fed President Williams will deliver a speech on the economic outlook and monetary policy.
Editor/jayden
