LB Select
2023.05.29 00:04
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Breakfast | Debt ceiling agreement eases market concerns, Alibaba DAMO Academy researches GPT-4 as data analyst.

Today, the US stock market is closed for Memorial Day. The White House announced a principle agreement on the debt ceiling, and the S&P 500 and Nasdaq futures opened higher. Nvidia's AI agent, integrated with GPT-4, outperformed AutoGPT. A paper from Alibaba DAMO Academy showed that GPT-4 can replace data analysts with an annual salary of 600,000 yuan for just a few thousand yuan. JPMorgan will lay off employees this week.

Good morning! A great day starts with making money.

Today, the US stock market is closed for Memorial Day, and the London Stock Exchange is closed for Spring Bank Holiday.

Market Overview

S&P 500 index and Nasdaq futures opened up 0.6% on Monday

The debt ceiling agreement reached over the weekend eased market concerns.

Top Stocks

Nvidia's AI agent Voyager outperforms AutoGPT

This AI agent can not only train itself based on game feedback, but also write code to complete game tasks.

Alibaba DAMO Academy: GPT-4 can replace data analysts earning 600,000 yuan per year with only a few thousand yuan, paper published

The cost of replacing junior data analysts with GPT-4 is only 0.71%, and for senior data analysts it is 0.45%.

JPMorgan to cut about 500 jobs this week, mainly in tech and operations

Kathy Wood defends missing out on Nvidia's big gains: chip cycles bring risks, now favors Meta

Kathy Wood said that Meta's LLaMA large language model can provide better models with less computing power and more data.

SUNAC: Rongchuang North China agrees to acquire 51% equity of target company held by Greentown Real Estate through restructuring arrangement

SUNAC: Rongchuang North China has agreed to acquire 51% equity of the target company held by Greentown Real Estate through a restructuring arrangement, at a cost of approximately RMB 1.486 billion, which will be offset by existing debt, with no actual cash payment.

[GANFENGLITHIUM: subscribes to AUD 10.6 million of Leo Lithium's additional shares](https://longportapp.com/en/news/88778101? force=1&app_id=longbridge)

GANFENGLITHIUM's board of directors has agreed to subscribe to no more than 9.9% of the newly issued shares of Leo Lithium Limited in Australia or its subsidiaries at a price of AUD 0.81 per share, with a total transaction amount of AUD 106.11 million.

Macro and Strategy

CICC: Hong Kong stock risk premium is already high

CICC: Why is the US stock market at a new high?

The continuously suppressed risk premium, the structural mismatch of the US economy, the macro credit cycle of the trend of technology leading industries, the expansion of US credit offsetting the effect of monetary tightening, and the government's "bottoming out" of the private sector have all significantly suppressed the risk premium and offset the rise in interest rates.

CITIC Securities: What are the differences in dividends among A-shares, Hong Kong stocks, and US stocks from a global perspective?

In terms of dividend payout ratio and dividend yield, the overall highest is the Hong Kong market, and the US market is relatively the lowest.

US President Biden: Just had a conversation with Speaker McCarthy of the House of Representatives and reached a bipartisan budget agreement, ready to submit it to Congress for review.

Kai-Fu Lee: The flaw of AI 2.0 in creating false information cannot be completely eliminated

Kai-Fu Lee, Chairman of Innovation Works, said that AI 2.0 may be used by bad actors to deceive or brainwash users in a targeted manner; AI 2.0 will bring changes to the search advertising business model led by Google. AI 2.0 platform companies will reduce development costs through rapid expansion, rapid fine-tuning, and precise positioning within 3-5 years.

Hong Kong Securities and Futures Commission: Virtual asset trading platform operating licenses can be applied for from June 1st

Operators who do not intend to apply for a license should take steps to end their business in Hong Kong in an orderly manner.