Pre-market trading in US stocks | AMD and NVIDIA rise, Alibaba and NTES-S fall! Duoduo Buy Vegetables closes its local life business

US Stock Market News

1. On January 4th, insiders revealed that PDD's local life business under PDD Buy was closed, while the PDD Buy project is operating normally.

2. Sources say that Alibaba's subsidiary, Lazada, is undergoing another round of layoffs in Southeast Asia.

3. Tianyancha App shows that Alipay (Hangzhou) Information Technology Co., Ltd. has applied for multiple social-related patents, such as the "Social Relationship Processing Method and Device" patent, which can establish trustworthy social relationships with social users through predicting social relationship establishment; the "Training User Interest Mining Model, Method, and Device" patent, which can effectively mine user interests; and the "Data Synchronization Method and Device" patent, which can achieve the synchronization and update of social data.

4. Microsoft announced the introduction of Copilot keys to Windows 11 computers. Microsoft stated that in the new year, there will be a major shift towards a more personalized and intelligent computing future, where artificial intelligence will seamlessly integrate into Windows from the system, chips to hardware.

5. BYD officially surpassed Tesla to become the world's largest pure electric vehicle manufacturer in the fourth quarter. Subsequently, users on social platform X compared the two companies. Tesla CEO Elon Musk also expressed his views on this, stating that compared to traditional car companies, Tesla is more positioned as an AI/robotics company.

6. IDC predicts that the demand for artificial intelligence and high-performance computing accelerators is experiencing explosive growth globally, while traditional industries are stabilizing after a downturn in 2023. It is expected that the growth in semiconductor market sales in 2024 will bring the annual growth rate of the entire market to 20%.

7. Recently, the Market Supervision Department of the State Post Bureau of China held joint talks with the Emergency Management Department and the Public Security Department on three express delivery companies, YTO Express Co., Ltd., Shanghai Yunda Freight Co., Ltd., and JD Logistics, which are suspected of illegally mailing fireworks and firecrackers.

Pre-market Movement

In pre-market trading, the three major stock index futures in the US rose, while the fear index fell.

US tech stocks rose in pre-market trading, with AMD up over 1%, NVIDIA and Tesla up nearly 1%.

Chinese concept stocks showed mixed performance, with Alibaba, NIO, and NetEase down nearly 1%, PDD and XPeng slightly down, and JD.com, Li Auto, and Bilibili up.

In terms of individual stocks, Faraday Future rose more than 25% in pre-market trading after the company announced that a Chinese automotive supplier delegation visited FF headquarters to explore opportunities for supply chain strategic cooperation.

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