Breakfast | S&P Dow Jones Hits All-Time High, Media Reports Apple Developing Foldable iPhone

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Overnight Morning Market

After-hours, Arm rose by 40%, and its annual performance guidance greatly exceeded expectations.

After the record-breaking US bond auction, supported by the rebound of tech giants, US stock indices rose across the board. The Dow Jones Industrial Average rose by 0.4%, the S&P 500 rose by 0.82%, reaching a new closing high of 4,995 points, and the Nasdaq rose by 0.95%.

Snap fell by 34%, Arm rose by 5.5%, and Tesla rose by 1.3%. Meta rose by 3.3%, Microsoft rose by 2.1%, Alphabet-C rose by 1% for the fifth consecutive day, Amazon rose by 0.8%, and Apple rose by less than 0.1%. Nvidia rose by nearly 2.8%, closing above $700 for the first time in history, marking the fourth consecutive day of closing at a new high.

Overall, popular Chinese concept stocks fell. The Nasdaq Golden Dragon China Index fell by 1.2%, Alibaba fell by 5.8%, and Yum China rose by 7.9%. JD.com and Bilibili fell by over 4%, XPeng fell by over 3%, Nio fell by nearly 3%, BIDU-SW and Li Auto fell by over 2%, Tencent Music fell by over 1%, and NetEase fell by nearly 1%; Pinduoduo rose by over 2%.

Bitcoin briefly reached $44,000 per coin.

Blue Chips and Hot Stocks

Media: Apple has developed a foldable flip iPhone.

Ride-hailing orders surge, Uber achieves annual profitability for the first time.

Alphabet-C has agreed to pay $350 million to settle a lawsuit brought by the Rhode Island government regarding the personal data breach of its former social network, Google Plus.

Microsoft is negotiating with CISPE in an attempt to resolve the European Union's antitrust complaint against its cloud computing licensing practices.

SK Hynix and TSMC have established an artificial intelligence chip alliance called "One Team Strategy" and will cooperate on the development of the sixth-generation HBM chip (HBM4). TSMC may handle part of the manufacturing process for HBM4.

UBS is launching Hong Kong's first Ethereum network tokenized warrants, with Xiaomi Group as the underlying stock for subscription.

New York Community Bank is in talks to divest mortgage risk and plans to sell $1 billion in RV loans.

In the fourth quarter of 2023, Kuaishou's local life GMV increased more than 25 times year-on-year, and the average daily paying users increased nearly 40 times year-on-year.

Disney's first-quarter revenue was $23.55 billion, analysts expected $23.8 billion; earnings per share were $1.22, analysts expected $0.99; Disney+ had 149.6 million subscribers, analysts expected 151.2 million. Disney will increase its cash dividend by 50% and plans to repurchase $3 billion of stock in 2024; it will invest $1.5 billion in the game developer Epic Games. Disney's stock price rose by 8% after hours.

Alibaba's fourth-quarter revenue was RMB 260.348 billion, a year-on-year increase of 5%; operating profit was RMB 22.511 billion, a year-on-year decrease of 36%; net profit was RMB 10.717 billion, a year-on-year decrease of 77%. The buyback plan has been increased by $25 billion; there is no rush for Cainiao and Hema to go public. Warner Music announced on Wednesday that it plans to lay off 600 employees, which is approximately 10% of its total workforce.

Macro: Taking you around the world

Hang Seng Index Company stated that the Hang Seng Index has recorded an average return of 14% during the past four Dragon years, ranking seventh among the 12 zodiac signs. The Hang Seng Index has achieved positive returns in all four previous Dragon years, ranging from 0.5% to 33.4%.

The Congressional Budget Office (CBO) predicts that the core PCE in the United States will be 2.4% in 2024 and 2.3% in 2025. (3.2% in 2023)

Wang Shouwen, Vice Minister of Commerce and China's International Trade Representative, had a video call with Alan Turley, Deputy Secretary of the U.S. Department of Commerce, to have frank and in-depth discussions on the preparations for the first deputy-level meeting of the China-U.S. trade working group and the trade and economic issues of mutual concern. Wang Shouwen also expressed concerns about the U.S. restrictions on semiconductors and cloud services to China, fair treatment of Chinese companies in the U.S., and photovoltaic restrictions.

There has been a leadership adjustment in the China Securities Regulatory Commission: Wu Qing has been appointed as the Party Secretary and Chairman of the China Securities Regulatory Commission, and Yi Huiman has been relieved of his duties as the Party Secretary and Chairman.

Shenzhen is optimizing its housing purchase restriction policy by removing the requirement for local household registration to have a certain number of years of residence and pay personal income tax and social insurance.

The Supreme People's Assembly of North Korea has decided to abolish all economic cooperation agreements with South Korea.