Breakfast | Concept stocks related to blockchain surge, MSTR surges more than 15%

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Overnight Morning Market

Powell "dovish" with Trump trade, Dow hits new high.

Funds continue to rotate, with small-cap stocks like the Russell 2000 Index rising over 2% at one point, up nearly 8% in four days, the best performance in four years.

Due to the increased probability of Trump's re-election after the assassination attempt, Trump concept stocks opened significantly higher but later fell back. Tesla opened about 7% higher and closed up nearly 2%; DJT pre-market trading surged over 70% at one point, but closed up only 31%, with post-market trading continuing to fall by about 10%; blockchain concept stocks surged, with MSTR up over 15%.

Chinese concept stocks fell. The China Internet ETF (KWEB) fell by 3.4%; China Technology ETF (CQQQ) fell by 2.72%; Nasdaq Golden Dragon China Index (HXC) fell by 3.64%.

Among popular Chinese concept stocks, Nio fell by 4.93%, XPeng fell by 4.98%, Li Auto fell by 3.2%, ZEEKR fell by 2.76%, JD.com fell by 5.33%, Alibaba fell by 2.06%, Baidu fell by 5.98%, Tencent Holdings (ADR) fell by 2.04%, Pinduoduo fell by 3.11%, Bilibili fell by 5.09%, while NetEase rose by 0.93%.

Blue Chips and Hot Stocks

Apple hits a new high, with a market value breaking $3.6 trillion at one point. Morgan Stanley: maintains a buy rating on Apple and raises the target price from $216 to $273, citing the upcoming artificial intelligence (AI) platform Apple Intelligence expected to significantly boost hardware sales. In addition, Apple's annual sales in India surged by 33%, with over half contributed by iPhones.

Financial stocks rose after last week's CPI release, with Berkshire Hathaway hitting new highs continuously; Goldman Sachs exceeded expectations with quarterly profits nearly doubling, pushing the stock price up by 2.5% to a new high.

TSMC and NVIDIA saw slight declines in stock prices. According to Taiwanese media reports, NVIDIA has increased its wafer starts at TSMC's 4nm process by 25% to meet the production demand for its latest Blackwell platform architecture graphics processor, with GB200 sales expected to increase by 50%. TSMC will announce its financial report before the market opens on July 18.

Other blue chips like Amazon, Meta, and Microsoft turned lower during trading.

Cryptocurrency

BTC continues to rise, nearing $65,000, influenced by the increased probability of Trump's re-election:

Among them, MAGA has accumulated a gain of over 50%:

Macro: A Look at the World

Powell continues to be "dovish": Recent three inflation data is "quite good," no need to wait for it to drop to 2% before cutting rates. Goldman Sachs: The Fed has "sufficient reason" to cut rates in JulyNext year, the chairman of the Fed's FOMC and the Chicago Fed, Guolsby, reiterated that there will soon be reasons to cut interest rates. This year, the chairman of the Fed's FOMC and the San Francisco Fed, Daly, also stated that confidence in approaching the 2% inflation target is increasing. The market is focusing on the June U.S. retail sales data on Tuesday to find more clues for interest rate cuts.

China's GDP in the second quarter grew by 4.7% year-on-year.

In June, China's total retail sales of consumer goods increased by 2% year-on-year, slowing down from the previous month. The value-added of industrial enterprises above designated size decreased by 5.3% year-on-year, sliding from the previous month. Real estate investment in China continued to decline but at a slower pace. In June, housing prices in 70 cities in China: the year-on-year decline in housing prices in various cities widened, and the prices of second-hand houses in Beijing and Shanghai increased month-on-month for the first time this year