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LB Select
2023.05.30 08:53
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Pre-market trading of US stocks | Nvidia breaks the $400 mark! Musk's private jet arrives in Beijing, and Gao Tu rises more than 18%.

AMD and Intel rose nearly 3%, Microsoft and Alphabet-C rose over 1%, Tesla rose over 2%, Meta and Amazon rose 1.6%, Up Fintech Holding rose over 10%. PDD rose 2.5%, Trip.com Group surged over 18%, BILIBILI-W and LI AUTO-W rose over 1%, BIDU-SW rose 0.7%, XPENG-W fell over 1%.

US Stock News

  1. Ministry of Foreign Affairs: The US should immediately correct its wrong actions and create necessary conditions for dialogue between the Chinese and US militaries. (Beijing Daily)

  2. Market News: BHP Billiton and Microsoft are collaborating to use artificial intelligence technology at their Escondida mine.

  3. MediaTek plans to launch its first 3nm automotive chip in 2024 and achieve mass production as early as 2025. (DIGITIMES asia)

  4. Market News: Tesla's private jet has landed in Beijing. Previously, sources said that Tesla CEO Elon Musk is expected to visit China this week and visit the Shanghai factory.

  5. NVIDIA CEO Huang Renxun: NVIDIA has an open attitude towards future cooperation with Intel to build artificial intelligence chips.

  6. Gaotu Q1

Pre-market Changes

In pre-market trading, Nasdaq futures rose by 1%, S&P 500 futures rose by 0.5%, and Dow futures rose by 0.2%.

NVIDIA rose more than 3%, and the opening momentum is expected to break through the $400 mark and set a new historical high.

Upward Rongke rose more than 10%, turning losses into profits in the first quarter.

AMD and Intel rose nearly 3%, Microsoft and Google rose more than 1%, Tesla rose more than 2%, Meta and Amazon rose 1.6%, Netflix rose 0.8%, and Apple rose 0.4%.

Pinduoduo rose 2.5%, Bilibili and Ideal rose more than 1%, BIDU-SW rose 0.7%, and Xiaopeng Motors fell more than 1%. Gaotu rose more than 18%.

Institutional Views

Citigroup: Maintains BIDU-SW Buy Rating with Target Price of $184

Citigroup analysts believe that BIDU-SW is expected to continue to seize the momentum of economic recovery. Citigroup also believes that BIDU-SW's use of generative OpenAI will support its profitability. OpenAI can help generate higher quality ads and increase the time users spend on the company's tools. Citigroup maintains a buy rating on BIDU-SW with a target price of $184.00.

US Stock Strategy

  1. What did Huang Renxun say at the COMPUTEX conference? Here are the highlights

  2. 7 years, 33 times! A history of NVIDIA's development and stock price changes

  3. Hong Kong stocks in the second half of the year: Valuations are extremely attractive, but liquidity is lacking, focusing on three main lines

  4. Rising all depends on FAAMNNGT! US stocks face sector rotation in the second half of the year

  5. All eyes are on Nvidia, the "fallen giant" that quietly made a comeback this year.

  6. Is the US stock market version of "weak reality, strong expectations"? Investor survey: the stronger the recession expectations, the more tech stocks will rise.

  7. Review | From Microsoft + OpenOpenAI to Nvidia! How did overseas OpenAI large-scale enterprise come into being?

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