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2024.05.15 23:50
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Breakfast | US stocks collectively hit new highs, new features such as eye tracking are about to be launched on iPhone and iPad

Nvidia leads the technology giants, while retail investors see double-digit declines in stock prices. Faraday Future skyrockets by 145%. The US House of Representatives' version of the "Biosecurity Law" passes the hearing and will enter a full House vote. Apple releases iOS 18 new accessibility features, including using haptic engine to feel music, setting up voice shortcuts, and "Personal Voice" feature will also support Mandarin, etc. Netflix will launch an internal advertising platform by the end of next year. Microsoft China's AI team is reportedly "packing up" to the US. Hong Kong is set to launch the digital RMB as early as Friday

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Overnight Morning Market

The US Consumer Price Index for April cooled for the first time in six months, with slowing inflation strengthening the market's bet that the Federal Reserve will start cutting interest rates as early as September. The futures market reflects an accelerated pace of Fed policy easing this year, supporting a rate cut by the Fed in the fall.

US stocks opened higher across the board, with all three major indices hitting record highs at the close. The S&P 500 index closed at 5308.15 points, the Dow Jones at 39908 points, and the Nasdaq at 16742.39 points.

However, the previously surging retail investor favorite stocks cooled off in the past two days, with stocks like Game Station and AMC plummeting by double digits during trading. Game Station fell by 18%, dropping to a circuit breaker at one point. AMC fell by over 20%. Sunpower fell by over 29%. Koss dropped by 19.2%, BlackBerry (BB) by 6.4%; Reddit by nearly 4.4%, while brokerage Robinhood rose by nearly 2.8%.

Faraday Future surged by 145%.

AMD rose by 4%, MicroStrategy by 15%. Tesla fell by 2%. Microsoft rose for two consecutive days, Apple for three consecutive days, Google for three consecutive days, hitting record closing highs; Meta rose for two consecutive days. NVIDIA rose for four consecutive days.

The Nasdaq China Golden Dragon Index edged up, with Alibaba up by 1.8%, XPeng down by 3.5%. Nio fell by nearly 8%, ZEEKR by 3.5%, Li Auto by 1.8%, Pinduoduo up by nearly 1.9%, Bilibili, B station up by over 1%, up by 0.8%.

Blue Chips and Hot Stocks

Buffett reduced Apple holdings in the first quarter and opened a position in Aon

Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum by 4.3 million shares in the first quarter, divested from HP, reduced Apple by 116 million shares, with the holding ratio dropping to 40%, and bought 25.92 million shares to open a position in Aon.

Apple's new iPhone accessibility features: eye-tracking control of iPhone, real-time subtitles on headsets

Apple released new accessibility features for iOS 18, including the ability for users to control iPhone and iPad solely with their eyes, feel music through haptic engines, set up voice shortcuts, and the "Personal Voice" feature will also support Mandarin, etc. The upcoming system-wide "real-time subtitles" feature in Vision Pro can convert live conversations and audio exchanges in apps into subtitles in real time.

Netflix to launch an in-house advertising platform by the end of next year

Market news: Uber to launch shuttle buses at airports and concert venues.

Market news: Netflix is close to reaching an agreement on NFL-related deals, further expanding into the sports field.

Reportedly, Microsoft's AI team in China is "packaging" to move to the US, with internal sources confirming that some employees have indeed received transfers, which will not affect domestic operations.

Nio's CEO: L60 presale price starting at 219,900 yuan

Nio officially launched its second brand, LeDao, with the presale price of LeDao L60 starting at 219,900 yuan, 30,000 yuan cheaper than the Model Y. LeDao L60 will be launched and deliveries will begin in September Xiaomi's car announced the delivery of the 10,000th Xiaomi SU7. Lei Jun, Chairman and CEO of Xiaomi Group, stated that they are continuing to expand production capacity to ensure the delivery of 100,000 units this year.

BYD's first pickup truck, BYDSHARK, had its global product launch in Mexico City. Positioned as a new energy luxury smart pickup truck, BYDSHARK is equipped with the DMO super hybrid off-road platform, with a price of 969,800 Mexican pesos (approximately RMB 416,000).

Media: The Vice President of the International Business Department of Xiaomi's core decision-making team, Xiang Zheng, has resigned.

Chips and Artificial Intelligence

Media: SK Hynix's foundry division will produce power management (PMIC) chips for Tesla.


Bitcoin briefly rose above $66,000, hitting a new high since April 24. Ethereum surpassed $3,000.

Federal Reserve's Kashkari: Reiterated that Bitcoin has almost no practical use, as it is neither an investment tool nor a currency.

IPO Opportunities

Market news: Innovent Biologics is seeking to raise over $1 billion through an IPO at a valuation of up to $10 billion. The company is reportedly planning to submit its IPO application as early as June.

Macro: A Global Perspective

US retail sales unexpectedly remained flat in April, recording 0%, lower than the market's expected 0.4%. The unadjusted CPI for April in the US recorded a year-on-year rate of 3.4%, lower than the previous month's 3.5%. The core CPI for April fell as expected to 0.3%, reaching a new low since December last year. Traders remain firm in their bets on the Fed cutting rates in September and December.

"Fed Whisperer" Nick Timiraos stated that the inflation report for April is still not enough to prompt the Fed to cut rates before September.

Federal Reserve's Kashkari: We may need to keep rates at their current levels for some time to understand the direction of inflation.

The Jackson Hole Global Central Bank Annual Meeting will be held on August 22, with the theme "Reassessing the Effectiveness and Transmission of Monetary Policy."

The Atlanta Fed's GDPNow model predicts a 3.8% GDP growth rate for the US in the second quarter, down from the previous estimate of 4.2%.

The US House of Representatives' version of the "Biosecurity Act" passed the hearing and will enter a full House vote

The new version of the US House of Representatives' "Biosecurity Act" draft (H.R.8333) sets the final deadline for decoupling the US biopharmaceutical industry from companies like WuXi AppTec and WuXi Biologics to January 1, 2032.

Media: Hong Kong to announce the launch of digital RMB as early as tomorrow

Russian President Vladimir Vladimirovich Putin arrived in Beijing to begin his state visit to China.

China's Immigration Administration: Fully implement the visa-free policy for foreign tourist groups entering by cruise ship.

The era of "buying a house and getting a residence permit" returns to the mainland, where buying a house in nearly 20 cities can qualify for residency. "Ultimately, the competition in cities comes down to population and talent."