Breakfast | NVIDIA, PDD and others release earnings reports, Trump's team hopes to relax regulations on autonomous vehicles

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Last week, the Dow Jones fell by 1.24%, the S&P 500 index fell by 2.08%, and the Nasdaq fell by 3.15%. Among them, the S&P 500 index and Nasdaq both recorded their largest weekly declines since September, while the Dow Jones recorded its largest weekly decline since late October.

NVIDIA's Q3 Earnings Report is Coming Soon, Analysts Optimistic About Revenue Performance

Analysts expect NVIDIA's revenue to see significant growth. Investors will be looking for signs of sales for NVIDIA's latest Blackwell processors, as well as demand for AI chips from large-scale enterprises.

Important Events and Data This Week: Earnings Reports from NVIDIA, PDD, Xiaomi, and Others

Monday: U.S. November NAHB Housing Market Index. G20 Summit held until November 19; 2024 International Financial Leaders Investment Summit until November 20. Earnings report: Xiaomi Corporation.

Tuesday: U.S. October New Housing Starts (annualized), U.S. October Building Permits (total). Earnings reports: XPeng, Kingsoft, Futu Holdings, Weibo, Walmart (after U.S. market close).

Wednesday: China’s one-year Loan Market Quote Rate as of November 20. Earnings reports: NIO, Kuaishou, NVIDIA (after U.S. market close), Target (TGT.N).

Thursday: U.S. Initial Jobless Claims for the week ending November 16, U.S. November Philadelphia Fed Manufacturing Index, U.S. October Existing Home Sales (annualized), U.S. October Conference Board Leading Index. 2024 Paris European Financial Markets Association International Financial Forum. Earnings reports: PDD, Baidu, Beike.

Friday: U.S. November S&P Global Manufacturing PMI (preliminary), U.S. November S&P Global Services PMI (preliminary), U.S. November University of Michigan Consumer Sentiment Index (final), U.S. November one-year inflation expectations (final). Hang Seng Index Company announces third-quarter review results, changes to the Hang Seng Index series constituents will take effect on December 9; 2025 FOMC voting member and Chicago Fed President Goolsbee will participate in a Q&A session at a conference.

Duan Yongping Increases Holdings in PDD and Occidental Petroleum, Reduces Apple Holdings, Li Lu Reduces Apple Holdings, New Position in Loss-Making Oil Field Stocks

As of the end of the third quarter, the combined market value of Duan Yongping and Li Lu's holdings in U.S. stocks reached $19 billion. The H&H International Investment fund, believed to be managed by Duan Yongping, significantly increased its holdings in PDD and Occidental Petroleum, reduced its holdings in Apple, and completely exited Bank of America; Li Lu's Himalaya Fund also similarly reduced its holdings in Apple while establishing a new position in a loss-making oil field stock. Recently, Duan Yongping has frequently bought Tencent and PDD, selling 1,000 Tencent puts daily.

Sources: Trump Team Expresses Desire to Ease U.S. Regulations on Autonomous Vehicles

The transition team of U.S. President-elect Trump plans to make the federal framework for fully autonomous vehicles one of the priorities for the Department of Transportation. The Trump team is looking for policy leaders for the department to develop a regulatory framework for autonomous vehicles. Current federal regulations pose significant obstacles for companies looking to deploy cars without steering wheels or pedals on a large scale, with Tesla being one of them

Sources: Trump's Transportation Secretary Candidates Include Uber Executives and Fox News Hosts

Eight sources revealed that Trump's transition team is considering former Uber executive Emil Michael, Missouri State Representative and Chair of the Transportation and Infrastructure Committee Sam Graves, outgoing Louisiana Republican Representative Garret Graves, and former Wisconsin Representative and Fox News host Sean Duffy to lead the U.S. Department of Transportation.

Media: NVIDIA's New AI Chip Faces Server Overheating Issues

NVIDIA's newly launched Blackwell AI chip is already facing delays as accompanying servers experience overheating issues, causing some customers to worry they do not have enough time to launch and operate new data centers.

Media: Shein Plans IPO in Q1 2025, Valuation at £50.3 Billion

Shein's IPO still awaits regulatory approval. The company is preparing to hold an official investor roadshow in the coming weeks.

ByteDance Valuation Reaches Approximately $300 Billion

According to insiders, ByteDance's self-valuation is around $300 billion, close to its historical peak, with expectations for further growth. Recently, ByteDance has implemented a buyback.

China-U.S. Party Dialogue Held: Both Sides Should Maintain Contact and Communication to Properly Manage Differences

On November 17, the 2024 China-U.S. Party Dialogue was held in Shenzhen. Both sides engaged in candid, in-depth, and constructive exchanges on the theme of "Cooperation and Challenges: The Path Forward for China-U.S. Relations in the New Situation." Both parties believe that a stable, healthy, and sustainable China-U.S. relationship aligns with the common interests of both countries and is a shared expectation of the international community. Both sides should maintain contact and communication, properly manage differences, deepen mutually beneficial cooperation, promote cultural exchanges, and shoulder the responsibility of promoting world peace and development.

China's National Development and Reform Commission: China Has Built the World's Largest and Most Complete New Energy Industry Chain

Wen Hua, Deputy Director of the Environmental Resources Department of the National Development and Reform Commission, stated that China has established the world's most systematic and comprehensive carbon reduction policy system, with significant results in energy transition. The total installed capacity of wind and solar power generation has achieved the international commitment target more than six years ahead of schedule; the annual production of new energy vehicles has surpassed 10 million in 2024; and resource utilization efficiency has continuously improved, with the output rate of major resources increasing by about 60% over the past decade.

Weight Loss Version of Semaglutide Officially Launched in China

Novo Nordisk announced the official launch of the world's first and currently only long-acting glucagon-like peptide-1 receptor agonist (GLP-1) for long-term weight management, Novo Nordisk's Ozempic, in China. Ozempic (semaglutide injection for long-term weight management) can achieve an average weight reduction of about 17%, with its weight loss effects lasting for at least two years.

Trump's New Health Secretary Opposes Vaccines and Weight Loss Drugs

Since Trump nominated Robert F. Kennedy Jr. as the Secretary of the U.S. Department of Health and Human Services (HHS), the U.S. pharmaceutical market has experienced significant volatility, with pharmaceutical stocks plummeting. Kennedy has publicly questioned experimental mRNA vaccines and strongly opposes GLP-1 drugs (used for weight loss and diabetes management), arguing that these drugs are the wrong approach to addressing the obesity crisis and that healthy eating should be promoted

U.S. shale oil tycoon nominated as Energy Secretary, previously criticized clean energy

Trump has nominated oil magnate Chris Wright as Energy Secretary, with the U.S. oil industry expressing support, believing he will help boost liquefied natural gas exports. However, this nomination may face opposition from environmentalists, as Wright has sparked controversy by criticizing the use of terms like "climate crisis" and "clean energy."

Media: Boeing issues layoff notices to over 400 workers, begins major layoffs

Boeing is attempting to recover from financial and regulatory issues, as well as an eight-week strike by the machinists' union. The company announced in October that it plans to lay off 10% of its workforce, approximately 17,000 people, in the coming months.

Netflix resumes after approximately six-hour outage in the U.S.

According to Downdetector.com, the video streaming platform Netflix resumed operations after experiencing an outage of about six hours in the U.S. that night while viewers were watching the boxing match between Mike Tyson and Jake Paul. Data showed that there were over 90,000 reports of issues with Netflix at the peak of the outage