The rebound in the streaming media sector is benefiting from the overall stock market rally and the confidence brought to investors by the latest user growth data. The question is, where are the risks?

Can Netflix and Disney continue to rebound?

In 2023, the star of the US stock market's artificial intelligence, NVIDIA, is set to announce its earnings report on Tuesday, which will become the focus of investors this week.

This week, NVIDIA's earnings report is coming in strong, followed closely by the financial reports of retailers such as Lowe's.

Last Friday, nearly 500,000 Alibaba options were traded, with 72% of them being bullish options. On the same day, over 200,000 Tesla put options with a strike price of $235 expired. Tesla call options with strike prices of $232.5 and $230 also traded over 110,000 contracts each.

US Stock Options | Tesla's trading volume of 3.6 million contracts sets a new recent high! The market continues to speculate on Alibaba call options.

有分析师也认为，市场信心不足导致募股不及预期、二级市场大消费概念市值总体偏低、盒马目前的体量和盈利状况尚未完全达到上市要求。同时，早期投资者似乎并不急于退出，这也为盒马暂缓 IPO 提供了可能。

盒马暂缓上市猜想

SpaceX 的星舰在二次试飞中发射失败，但马斯克却表示获得了有价值的数据用于下一次迭代。这次试飞中，一二级火箭成功分离，但二级因速度不够切入轨道失败。尽管火箭发射失败，马斯克却祝贺了 SpaceX 团队。这次试飞与 4 月份的首次试射相比，公司做出了一些改进。目前还不清楚具体失败原因。

SpaceX 的星舰又炸了，马斯克却说成功了？

谷歌、亚马逊、微软们都在开发自研芯片，试图在硬件层面降低了对英伟达的依赖，但在软件层面，他们又不得不与英伟达保持合作。

AI 时代，没有人能摆脱英伟达！

人工智能热潮有可能改变投资者的投资核心原则，传统的 60/40 股债策略可能过时。人工智能技术的发展可以提高生产率，造成经济增长与通胀之间的相关性发生逆转，打破股票与债券之间的传统负相关关系。这一趋势可能使债券不再是良好的分散投资工具。策略师们认为，长期投资组合可能更倾向于股票而非债券。

60/40 股债策略过时了？大摩：AI 将改变投资核心逻辑！

杰富瑞集团：将特斯拉目标股价从 250 美元下调至 210 美元。

Last week's performance of the Hong Kong stock market once again demonstrated that in the current situation of depressed valuations, sentiment, and allocation, the alleviation of external disturbances can lead to significant rebounds or even outperformance. CICC believes that the Hong Kong stock market is gradually bottoming out, with a potential upside of 10-15% in the base case scenario.

Is the Hong Kong stock market bottoming out again?

The central parity rate of the RMB against the USD has been raised by 116 points to the highest level since August. Guojun Macro previously pointed out that the central parity rate plays the role of a "stabilizer". Due to the relatively stable central parity rate of the RMB against the USD, the bears still remain cautious about the policy intentions.

Jumped 200 points! Offshore RMB breaks through the 7.2 level

恒生科技指数涨超 2%，腾讯涨近 4%，京东涨 3.5%。

If Altman returns, Microsoft hopes to gain a seat on the board of directors and have a greater influence on strategic decision-making.

Is Altman returning to OpenAI? The biggest winners and losers are: Microsoft!

自 2015 年以来，特斯拉股价已经飙涨了逾 1500%。因此，自称 “特斯拉最大空头” 的 Jim Chanos 已经亏得不得不关闭麾下对冲基金。

华尔街大空头做空特斯拉亏惨了！

The combination of a high interest rate environment and domestic political division is likely to significantly weaken the fiscal expansion in the United States next year, leading to an inability to sustain a high level of economic prosperity and putting downward pressure on the US dollar.

Dunhe: The US dollar is putting downward pressure, A-shares and Hong Kong stocks are expected to rebound from the bottom.

Recently, Mr. Zhen Junjie, CEO and Chief Investment Strategist of Swiss EFG Bank, stated that the direction of the Chinese economy is the most crucial factor for the overall market. The central government has already started to address the risks of local debt platforms, and the overall fundamentals are improving.

Swiss Prosperity Zhen Junjie: Overall fundamentals are improving, and the attractiveness of Hong Kong stocks is gradually returning.

路透纽约 11 月 17 日 - 目前市场大举押注华尔街最著名的波动率指数将会翻倍上扬，这已然引起美国股票期权市场的关注，尽管分析师称这些押注可能不是对市场崩溃的押注。

美股涨个不停，“灾难对冲” VIX 期权买气随之兴旺

港股 U 型反弹，恒指涨幅扩大至 1.1%，恒生科技指数涨 1.4%。

马斯克：星舰第三次试飞的硬件应该会在 3-4 周内准备好。

* 野村下调阿里目标价至 134 美元 评级「买入」

* 野村下调阿里目标价至 134 美元  评级「买入」

Recently, "stock god" Warren Buffett's Berkshire Hathaway released its latest portfolio report, and the position adjustments in it have raised warning signals for some analysts.

Be cautious! Warren Buffett has sold approximately $23.6 billion worth of stocks this year. Is the future of the US stock market worrisome?

Cryptocurrency market investors are increasingly convinced that the U.S. Securities and Exchange Commission (SEC) will soon give the green light to exchange-traded funds (ETFs) that directly invest in Bitcoin.

Coinbase: Approval of Bitcoin Spot ETF Will Increase Cryptocurrency Market Cap by Billions of Dollars

新加坡股市 17 日报：恒生科技指数权证遭大规模抛售

The latest one-year loan prime rate (LPR) is reported at 3.45%, unchanged from the previous rate. The LPR for loans with a term of five years or more is reported at 4.20%, also unchanged.

"No interest rate cut!" China's 1-year and 5-year LPR rates remain unchanged in November.

LI AUTO-W is now up more than 3%. As of the time of writing, it has increased by 2.86% to HKD 161.6, with a trading volume of HKD 101 million.

Hong Kong Stock Market News | LI AUTO-W rises more than 3%, company included in Hang Seng Index, IDEAL MEGA pre-orders exceed 10,000.

离岸人民币兑美元短线走高近 200 点，触及 7.20 关口。此前人民币兑美元中间价调升至 8 月份来最高，上调 116 点报 7.1612。

离岸人民币兑美元触及 7.20 关口，创 8 月份来新高

融创中国盘初涨 6.82%，日前消息称境外债务重组条件将预计达成。

港股开盘，恒指开涨 0.98%，科指开涨 1.26%；理想汽车开涨 2.48%，日前恒生指数公司公布季检结果将其纳入恒指。

中国 11 月一年期贷款市场报价利率 (LPR) 3.45%，预期 3.45%，前值 3.45%。

PSL 重启，将用于支持基建相关领域。PSL 是一种结构性货币政策工具，最初用于支持棚改提供稳定的资金来源。随着时间的推移，PSL 的投向领域逐渐扩大，包括重大水利工程、人民币 “走出去” 项目等。2022 年下半年，为了应对经济压力和部分突出问题，央行决定重启 PSL，用于支持基建相关领域。PSL 的重启引起了市场的关注，对债券市场可能产生影响。

PSL 重启？

The S&P 500 index has risen by 9.6% in just three weeks, but for some market observers, this upward trend seems increasingly difficult to sustain.

The S&P 500 index has risen nearly 10% in just three weeks, but the market is in a panic?

NIO-SW President responds to "bankruptcy" rumors. Media reports that Altman hopes to replace current members of the OpenAI board and wants to use Middle Eastern funds to develop AI chips to compete with NVIDIA. Apple is considering developing its own camera image sensors. Meta is betting on generative AI business and has split its Responsible AI team. Citigroup is reportedly planning large-scale layoffs. Germany, France, and Italy have reached a consensus on how to regulate AI in the future.

Breakfast | OpenAInAI "Coup Drama" Begins Second Act, Alibaba Denies "Laying Off 25,000 Employees"

金十数据 11 月 20 日讯，据 CME“美联储观察”：美联储 12 月维持利率在 5.25%-5.50% 区间不变的概率为 100%。到明年 2 月维持利率不变的概率为 100%。到明年 3 月累计降息 25 个基点的概率为 30%，维持利率不变的概率为 70%。

美联储 12 月维持利率不变的概率为 100%

The narrative of a soft landing dominates the US stock market, speculative trading is prevalent, and small-cap stocks have surged 5% in a week. Junk bonds have seen the largest inflow of funds in three months. However, several institutions believe that the market's assessment of the US economy may be overly optimistic.

Small-cap stocks and junk bonds are soaring, is the market "all in" on a soft landing in the United States?

有代表喜笑颜开地说 “进去了就还可以”，当然也有 “考前” 信心满满，出场后却遗憾表示 “差一块钱”

国谈 DAY2：AZ、齐鲁 20 分钟谈完，华领、拜耳 “鏖战” 2 小时，华东的 GLP-1 谈成了吗？肿瘤药明天将开启大战

OpenAI 前总裁、核心 AI 科学家 Greg Brockman 在社交平台上梳理了与 OpenAI 前 CEO Sam Altman 被董事会罢免的细节。他表示，他对董事会的决定感到震惊和悲伤。经过 Ilya 的通知，Sam 被解雇，并且 Greg 也被从董事会中除名。

Altman 被罢免原因来了？OpenAI 内乱解读

After this sale, GEELY AUTO will still hold 78.7% of Volvo's shares. According to reports, the sale price of GEELY AUTO's shares is approximately SEK 37 per share, with a total sale amount of approximately USD 350 million. Volvo's financial report released last month showed that the company's adjusted operating profit in the third quarter was SEK 19.11 billion, a year-on-year increase of 61%, far exceeding expectations.

Volvo's European stocks plummeted by 11%, hitting a historic low, after previously experiencing a discounted sale of shares by Geely Auto.

Qube Company has stated that it does not hold £670 million in short positions on HSBC HOLDINGS. The disclosed short position in the public register of the Financial Conduct Authority in the UK was due to an error in submission. Stuart Brown, the Chief Operating Officer of the company, stated in an email announcement that the company does not have a net short position on HSBC.

Hedge fund Qube's massive short position on HSBC? Company responds: Reporting error, no net short position on HSBC!

US e-commerce giant Amazon is reportedly laying off hundreds of employees in its smart voice assistant Alexa division, and has announced plans to invest more resources in developing generative AI capabilities. This move highlights the pressure the company is facing in the face of competition from generative AI technologies such as ChatGPT.

Priority AI Battle! Amazon Alexa Department Shrinks, Hundreds of Layoffs Expected

Founder Securities pointed out that TSV is the core process in the HBM industry chain, and there will also be an increase in demand for plating, testing, and bonding. The growth in AI computing power demand has opened up the market space for HBM, and it is expected that the market size will reach 12.74 billion US dollars by 2026, with a CAGR of 37%.

Understanding the HBM Industry Chain in One Article

Alibaba's Variation

Both China and the United States have agreed that the two countries' ministries of commerce will hold the first meeting of the trade and commerce working group in the first quarter of next year. Within one hour of the start of pre-sales, the Ideal MEGA has received over 10,000 reservations. The Xiaopeng X9 has been officially released and pre-sales have begun, with prices starting at 388,000 yuan.

Pre-market US stocks | Alibaba leads the decline of Chinese concept stocks, Weibo rises! Tesla China will continue to raise prices next week.

金十数据 11 月 17 日讯，从接近特斯拉的业内人士处获悉，在接连三次涨价后，特斯拉将于下周再次上调中国市场售价。（蓝鲸财经）

特斯拉下周将继续上调中国市场售价

Nomura believes that the market's focus on TENCENT's small game business is misplaced, as despite operating for several years, this business has always accounted for only a small portion of its revenue. TENCENT's video ad platform is likely to be the driving force behind future earnings.

Quick look at the major banks | Alibaba, Tencent! Target prices have been significantly lowered! CLOUD MUSIC receives strong positive outlook.

已经有不止一位网友发现，自己的 ChatGPT 已经在悄悄测试该功能。

ChatGPT 被曝测试新功能：学习所有历史聊天，还能重置记忆、“阅后即焚”

Microsoft is undoubtedly one of the best companies in the world, but that doesn't necessarily mean you should buy its stock.

Microsoft: How to balance between competitive advantage and valuation?

Buffett may be considering Japanese banks, insurance companies, and automakers as his next investment targets.

Should we continue to buy Japanese stocks? Berkshire Hathaway has issued yen bonds for the second time this year, with a total value of 122 billion yen.

港股收盘，恒指收跌 2.12%，科指收跌 1.62%；国美零售涨超 80%，新股药明合联涨超 35%，阿里巴巴跌近 10%，哔哩哔哩跌近 7%。

沃尔沃汽车欧股股价下跌 12.6%。此前，吉利计划出售约 3.88 亿美元的沃尔沃汽车股份。

* 大摩削阿里目标价至 110 美元 剔出首选股

* 大摩削阿里目标价至 110 美元  剔出首选股

Alibaba fell more than 9% overnight, but among the 640,000 traded contracts, the proportion of call options was 69%. Tesla's call options with an expiration date of tomorrow and a strike price of $240 traded over 210,000 contracts, while put options with a strike price of $230 traded 160,000 contracts.