Pre-market US stocks | Nvidia, AMD, TSMC fall 1.5%, the House of Representatives will vote on the debt ceiling agreement tonight, and Faraday Future Intelligent Electric releases FF 91 2.0 version.

US Stock News

1. Mark Gurman, a well-known Apple insider, predicts that Apple's WWDC 2023 will focus on three key areas: several new Mac products, the first mixed reality headset, and a new operating system. As new software and hardware will be showcased, the event is likely to last more than two hours, setting a new record.

2. Market news: BIDU-SW has created a $140 million fund to support start-ups in the ChatGPT field.

3. Qualcomm recently announced that it is in talks with Nintendo and Sony PlayStation to jointly explore and promote portable gaming devices.

4. JOYY's net revenue for the first quarter was $583.6 million, a year-on-year decrease of 6.4%, with an estimated $562.8 million.

5. Berkshire Hathaway has increased its stake in Western Petroleum by 4.66 million shares.

6. Majority Leader Scalise of the US House of Representatives: The House of Representatives will hold a procedural debt ceiling agreement vote at 3:30 pm on Wednesday (3:30 am Beijing time on Thursday).

Pre-market Movement

In pre-market trading, Dow futures, Nasdaq futures, and S&P 500 futures all fell slightly by more than 0.1%.

Alibaba rose 0.8%, Pinduoduo fell 0.7%, iQiyi and Bilibili fell more than 1%, Beike fell nearly 1%, BIDU-SW fell nearly 1%, and NIO rose more than 1%.

Nvidia, AMD, and TSMC fell 1.5%.

Faraday Future Intelligent Electric rose 6%, having previously released the FF 91 2.0 version, which will begin the first phase of deliveries on May 31.

Institutional Views

Royal Bank of Canada raises S&P 500 target to 4250 points

The Royal Bank of Canada stated that improved profit expectations, reduced layoffs in key industries, and changes in patterns have led to an increase in the S&P 500's EPS from $200 to $213 in 2023 and to $223 in 2024. The background of the US stock market is still full of contradictory cross-currents, and the bank maintains a neutral view, but believes that the "upward risk of asset classes is greater than the downward risk."

US Stock Strategy

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2. FANG+ surges! Is the US stock market replicating the tech frenzy of the summer of 2020?

3. US stock options | Bullish bets on Tesla rising to $220, Nvidia and Palantir options trading doubled

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5. From Apple to Nvidia! A picture to understand the global 8 trillion dollar market value club elites

6. HP's performance is poor, but it is embracing artificial intelligence!

7. Buffett increases his holdings in Occidental Petroleum again! Berkshire Hathaway holds nearly a quarter of the shares

8. Technical analysis | Why is Nvidia at $400 already profitable to close out?