Breakfast | US stock indexes and tech blue chips hit new highs, "unstoppable", Tesla to spend $500 million to build Dojo.

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Overnight Market Update

The three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average rising for three consecutive trading days, setting new historical highs. The Nasdaq and S&P 500 rebounded after ending a five-day winning streak last Friday, with the S&P 500 hitting new all-time highs. The Nasdaq rebounded to a two-year high.

Tesla rose more than 4%, leading the gains in blue-chip technology stocks, after receiving consecutive increases in holdings from ARK. Microsoft rose more than 1% ahead of its earnings report; chip stocks halted their two-day decline, with AMD narrowly closing higher and NVIDIA reaching a new closing high. Alphabet-C set a new closing high for four consecutive trading days; Meta set a new closing high for five consecutive trading days; Netflix rose for four consecutive days, continuing to hit a two-year high; Amazon rose for five consecutive trading days, continuing to hit a closing high since April 2022; Apple fell for four consecutive trading days to a closing low since January 18.

Lucid surged 27%, marking its largest gain in a year, as the company announced delivery data and launched a "competitive model" against Tesla. iRobot initially fell more than 20% and closed down more than 8% after Amazon terminated its acquisition of the company.

Chinese concept stocks fell across the board, with the Nasdaq Golden Dragon China Index falling for three consecutive trading days. Pinduoduo fell more than 8%, New Oriental EDU & Tech fell more than 4%, NetEase fell nearly 3%, Tencent Music fell more than 2%, JD.com and Bilibili fell more than 1%, Alibaba and XPeng fell about 0.6%.

Cryptocurrency

Bitcoin briefly rose above $43,000 per coin in the Asian market session, the first time since mid-January, with a 2.44% increase during the day.

Inflows into Bitcoin spot ETFs hit a recent low, with nine new funds receiving approximately $270 million in inflows yesterday. Taking into account the outflows from Grayscale's Bitcoin spot ETF, the ten funds had a net outflow of approximately $153 million on Wednesday, marking the third consecutive day of net outflows.

Blue-Chip Stocks and Hot Stocks

Google launches AI agenda for ASEAN

Sources say that Apple's new iPad Pro and M3 MacBook Air have started production and are expected to be officially released at the end of March.

Musk: Yesterday, the first human received an implant from Neuralink, the brain-machine interface company, and is currently recovering well. Preliminary results show promising performance in neuron spike detection.

Tesla Chairman Robyn Denholm and one of Musk's senior aides formulated plans to sell a large amount of company stock at the end of last year, with these stocks valued at over $72 million based on Tesla's latest closing price.

Jefferies: Lowers Tesla's target price from $225 to $185

Media: Alaska Airlines' Boeing aircraft left the Boeing factory missing bolts

Stellantis' Commercial Vehicle Division "Pro One" expands its existing hydrogen fuel cell product line and begins production of medium and large trucks in Europe.

Amazon and consumer robotics company iRobot have agreed to terminate a pending acquisition due to the acquisition not receiving regulatory approval in the European Union, and will pay iRobot a termination fee of $94 million. iRobot announced the implementation of an operational restructuring plan to adjust the company's positioning, which will result in the layoff of approximately 350 employees, accounting for about 31% of the company's workforce. CEO Colin Angle has resigned, and Chief Legal Officer Glen Weinstein has been appointed as interim CEO, with the process of seeking a permanent CEO already underway.

Users in North America, Canada, and Brazil may experience difficulties accessing Microsoft Teams or its features.

Blizzard Entertainment has appointed Johanna Faries as the next president, making her the first new president of the company since Microsoft's acquisition of Activision Blizzard for $69 billion. Faries was previously the general manager of the popular game series "Call of Duty" under Blizzard.

Pony Ma: Tencent's 6.4 billion investment in Haidian, Beijing is not just to boost confidence, but also because overseas gaming is currently Tencent's biggest hope for internationalization.

Tencent COO Ren Yuxin: Don't pay too much attention to external information, but rather focus on internal circumstances. We should calmly assess the gaming market. Currently, competitive battle games are still the crown jewel for Tencent Games. We need to hold onto this foundation and not be swayed by the popularity of MMOs and anime.

Stephen Chow will collaborate with Douyin on the production of the first micro-drama.

Media reports suggest that JD.com has held several small-scale internal meetings to discuss the feasibility of recruiting Dong Yuhui and explore various possibilities for future cooperation.

China Evergrande has received a "liquidation order," but legal experts believe that the impact on its domestic operations is limited, and the liquidation process is complex and challenging.

Evergrande Auto has applied to the Hong Kong Stock Exchange to resume trading of its shares on January 30th.

WuXi AppTec stated that there have been no significant changes in the company's day-to-day operations, and its production and business activities are normal.

WuXi AppTec believes that the content related to the company in the draft of the "Biological Security Act" submitted to the U.S. House of Representatives is both inappropriate and inaccurate. The company firmly believes that its business does not pose a risk to the national security of any country.

An American airline company has announced the layoff of 656 employees, accounting for approximately 8.2% of the approximately 8,000 employees responsible for customer service at the airline.

Startups

AI chip startup Rebellions has completed a Series B financing round of $124 million.

IPO Opportunities

Renault Group will cancel Ampere's IPO.

NYSE President Lynn Martin: Despite market volatility, there are still many companies on the IPO path. Recently, several companies, including tennis racket manufacturer Amer Sports Inc., plan to go public in early this year. The outlook for stock sales in 2024 is optimistic.

Nasdaq CEO Adena Friedman previously stated that this year is expected to be a busy year for IPOs, with over 80 companies preparing to go public on the exchange.

Macro: A Worldview

The probability of the Federal Reserve maintaining interest rates unchanged this week is 96.9%.

SPX CEO Xavier: It is expected that the Federal Reserve and the European Central Bank will initiate a loose monetary policy cycle in March.

BlackRock has upgraded its overall rating for US stocks to overweight. Hong Kong Securities and Futures Commission: Following a comprehensive investigation into a tightly-knit "pump and dump" group, the Securities and Futures Commission suspects that key members of the group, including Liu Jiarong, were prosecuted today in the Eastern District Court. Two other suspected members of the group have previously been prosecuted in relation to this case.

The issuance of corporate bonds in the United States reached a record high of $176 billion in January, surpassing previous years' figures for the same period.

After the Supreme Court of Venezuela blocked the opposition leader from running for office, the United States is likely to reimpose oil sanctions on Venezuela.

The Ministry of Industry and Information Technology of China, along with six other departments, aims to break through the high-level intelligent connected vehicle and metaverse gateway, which have explosive potential as super terminals.

The State-owned Assets Supervision and Administration Commission of the State Council of China will fully implement a "one enterprise, one policy" assessment.

The United States restricts the training of artificial intelligence by Chinese companies. In response, the Chinese Ministry of Foreign Affairs urges the US not to violate the objective laws of technological development.

Media reports suggest that Trump mentioned imposing a 60% tariff on Chinese imports.