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2023.09.18 23:45
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Breakfast | Ant Group becomes the second largest shareholder of Korean payment giant, Microsoft AI team leaks a large amount of data

Market expectations are generally that the Federal Reserve will hold steady on Wednesday, resulting in a collective plateau in US stock indices. Ant Group has reportedly become the second largest shareholder of Toss Payments in South Korea. TikTok has strengthened its e-commerce business in the United States and launched a music streaming service to compete with Amazon. NIO announced plans to issue $1 billion in convertible preferred bonds. Goldman Sachs predicts that the price war for Tesla will continue unabated, leading to a downward revision of profit expectations. TSMC is set to receive more Dojo supercomputer orders from Tesla. Midea Group plans to list on the main board of the Hong Kong Stock Exchange.

Good morning! A wonderful day starts with making money.

Market: Overnight and this morning

Waiting for the Fed decision, US stocks closed roughly flat

The market generally expects the Fed to stand pat on Wednesday, with a 34% probability of another rate hike in November. US stocks opened lower and closed higher, with the S&P 500 up 0.07%, the Dow up 0.02%, and the Nasdaq up 0.01%.

Tech stocks had mixed performances. Meta rose 0.8%, Apple rose 1.7%, Amazon fell 0.3%, Microsoft fell 0.4%, Netflix fell 0.6%, Google A rose 0.6%, and Tesla fell over 3%. Arm fell over 4% on its third day of trading, Intel rose 0.3%, AMD rose nearly 1%, and Nvidia rose slightly.

The late-stage decline of popular Chinese concept stocks narrowed significantly. and Baidu fell over 1%, Pinduoduo rose 0.4%. Alibaba fell 0.05%, Bilibili fell nearly 1%, Tencent ADR fell 1%, NIO fell over 1% and fell over 5% after hours, Li Auto fell over 2%, and XPeng rose nearly 1%.

What happened to blue-chip stocks and hot stocks

Microsoft AI team accidentally leaked a large amount of data, including over 30,000 internal messages

The Microsoft AI research team accidentally leaked data when releasing open-source training data. Repository users were only allowed to download AI models from cloud storage links, but the link permissions were misconfigured, which meant that others could delete and overwrite existing files.

NIO announces plans to issue $1 billion convertible bonds, US stocks fall 4.3% after hours

Ant Group becomes the second largest shareholder of South Korean Toss Payments, holding a stake of about 40%.

Multiple private equity firms accuse Morgan Stanley of fraud and seek a total of $750 million in compensation.

TikTok has strengthened its e-commerce business in the United States and launched a music streaming service to compete with Amazon.

Goldman Sachs expects Tesla's price war to continue, lowers profit expectations

Tesla may further reduce prices in 2024, which will weaken the earnings growth from cost reductions. Goldman Sachs has lowered its earnings per share expectations for Tesla in the next two years from the previous $3.00/$4.25 to $2.90/$4.15.

Tesla to build a new factory in Saudi Arabia? Musk dismisses the report as completely fake news According to reports, Saudi Arabia is using the purchasing rights of certain metals and minerals required for electric vehicles to attract Tesla.

Musk considers charging all Twitter users

Musk said in a live broadcast with Israeli Prime Minister Netanyahu on Monday that X will start charging users a small fee per month to combat bots and spam on the platform.

Sunac China: Majority of overseas debt restructuring plan approved by creditors

China Evergrande issues clarification announcement

China Evergrande: The criminal coercive measures taken against personnel related to Evergrande Wealth in accordance with the law do not affect the company's business operations. In addition, the transfer of Evergrande Life Insurance business and corresponding assets and liabilities does not have a significant impact on the company's current business operations.

TSMC to receive more Dojo supercomputer orders from Tesla

Tesla's chip orders from TSMC this year are about 5,000 pieces, and if it increases to 10,000 pieces next year, it will double in growth.

Cisco plans to lay off 350 people in Silicon Valley next month

This is the company's second round of layoffs this year. In November last year, Cisco announced a global layoff of 4,000 people, accounting for about 5% of its global workforce.

IPO Opportunities

US IPO market is heating up again

Venture capital funds are rushing to exit.

Midea Group: Plans to issue H-shares and list on the main board of the Hong Kong Stock Exchange

Midea Group is actively discussing the relevant work of this issuance and listing with relevant intermediaries. In addition to the relevant resolutions approved by the board of directors, the specific details of this issuance and listing have not been determined.

Macro: Taking you around the world

For a hundred consecutive days, the US stock market has not had a daily decline of more than 1.5%

Since reaching its peak this year, the index has only had four declines of more than 1% in two months. Apart from that, the daily volatility has reached a level not seen since 2018. Analysts believe that there is a greater possibility of a decline in late September and October.

Is the US government going to shut down again? If no agreement is reached, it will shut down at the end of the month

Bank of America believes that the probability of a shutdown this time is about 50%.

US Treasury Secretary Yellen: No signs of an imminent recession in the US economy, too early to judge the impact of the major auto industry strike Janet Yellen also called on the US Congress to pass appropriation legislation, stating that the US government has absolutely no reason to shut down.

The United Auto Workers Union is reportedly lowering its demand for wage increases to 36%.

On Monday, we are still waiting for new labor proposals from the Big Three automakers in Detroit. Sources say that the latest contract proposal from automaker Stellantis to the union could result in the closure of 18 factories in the United States, but it could also bring new investments.

Biden's schedule for the United Nations General Assembly

President Biden will deliver a speech at the United Nations General Assembly at 10:00 am Eastern Time on the 19th; at 11:30, he will meet with UN Secretary-General Guterres; and then he will chair the "Central Asia - United States" (C5+1) meeting.

UK antitrust regulator, Competition and Markets Authority (CMA), proposes new standards for regulating AI models

It covers accountability, access, transparency, and other matters, making it clear that developers are responsible for the output content.

Will Chinese leaders plan to participate in this year's APEC summit held in the United States? Chinese Ministry of Foreign Affairs: If there is any news, we will release it in real-time.

Rumors about "Shenzhen canceling the 3-year restriction on buying houses after divorce" are spreading

Staff members of the Shenzhen Housing Provident Fund Management Center stated that unmarried individuals who buy houses after divorce still need to trace the number of properties they owned before the divorce. The relevant policy is still being optimized in the preliminary stage and has not been officially released yet.