US Stock Pre-market | FFIE leads the plunge of Meme stocks! Panic index surges

U.S. Stock News

1. NVIDIA CEO Jensen Huang stated that NVIDIA is working hard to certify Samsung and Micron's High Bandwidth Memory (HBM).

2. Tesla CEO Elon Musk announced on June 3rd on social media that its AI startup xAI will purchase 300,000 NVIDIA B200 AI chips.

3. TSMC held its sixteenth first board meeting, where all directors unanimously elected Mark Liu as Chairman and CEO. This marks the end of TSMC's "co-CEO" structure and the beginning of Mark Liu's full leadership era.

4. Recent reports indicate that Li Auto has recently merged the functions of its retail and delivery headquarters into sales. Insiders mentioned that "after the merger of the retail and delivery teams, the goals are more aligned, which is more conducive to overall sales growth." Li Auto later confirmed the authenticity of the merger of the retail and delivery departments.

5. According to Nikkei News, due to testing violations and other issues, Toyota has decided to temporarily halt production of three models, including the Yaris Cross, by the end of June. Toyota stated that a decision on whether to resume production after July will be made in late June, and individual compensation negotiations will be conducted with affected business partners.

6. Regarding the research results suggesting a possible link between semaglutide and male erectile dysfunction, on June 4th, Novo Nordisk China stated that based on approved U.S. prescription information or EU product characteristics summary, sexual dysfunction is not a side effect mentioned in the Wegovy (weight-loss version of semaglutide) instructions.

Pre-market Movers

In pre-market trading, U.S. stock index futures are down, while the fear index is surging.

Bitcoin is currently trading at $68,617, down nearly 1% in the past 24 hours; Ethereum is trading at $3,747, down over 2% in the past 24 hours.

Meme stocks, cryptocurrency-related stocks, and tech stocks are declining, while Chinese concept stocks are mixed.

GME initially rose by 10% in pre-market trading, then fell by over 3%, currently down over 1%; AMC Entertainment initially rose by over 2%, then fell by nearly 5%, currently down over 1%; Faraday Future Intelligent Electric initially rose by over 4%, then fell by over 5%, currently down over 4%; Crown ElectroKinetics is down over 5%.

MSTR, COIN are down over 1%, MARA is down nearly 1%.

AMD was down over 1% at one point, while NVIDIA, Tesla, Meta, Apple, Microsoft, Amazon, and Alphabet are all down.

Bilibili and NetEase initially rose by over 1%, NetEase, XPeng, Alibaba, and JD.com are up, while Pinduoduo, NIO, and Li Auto are down.

In individual stocks, WiMi Hologram Cloud initially rose by 27%, currently up 15%, announcing the establishment of the MicroAlgo-WiMi Quantum Consciousness Research Center.

Sony is up nearly 2%, and its semiconductor division will reduce spending by 30% over the next three years.

Strategy Review

1. The Impact of High Interest Rates, Overshadowed by the S&P 500

The performance of the S&P 500 index as a whole and its performance under equal weight calculation can be described as two different worlds. Under equal weight calculation, the S&P's gain this year is actually less than 5%. Looking at it now, the 50 cheapest stocks in the S&P 500 have a forward P/E median of only 15 times, roughly consistent with the market P/E during the lowest point after the epidemic, which can be considered very cheap 2. "Big Brother" Leading the Way, Morgan Stanley in Panic, Wall Street Furious

"Big Brother" roared back last month, leading retail investors to once again frenzy over meme stocks like GameStop (GME), using Morgan Stanley's ETrade trading platform. Morgan Stanley is worried that "Big Brother" may drive up stock prices for personal gain and then unload them to unsuspecting retail investors, potentially exposing its ETrade platform to unknown risks.

3. Why the Constant Mishaps? NYSE Blames "Grassroots Team": Unrelated to the US Stock Market's T+1 Change

The overnight trading failure is the third unexpected event to occur in the US market in the past week, coinciding with the transition from T+2 to T+1 settlement cycle. It is worth noting that the catalyst for the transition of the US stock market from T+2 to T+1 settlement was the 2021 GameStop (GME) incident