Pre-market US stocks | Alibaba, PDD up more than 2%, Tesla's sales in Europe double, EU to investigate Microsoft for antitrust next week

Top News in US Stocks

1. The European Automobile Manufacturers Association released data on Wednesday showing that new car registrations in Europe increased by 19% YoY to 1.27 million vehicles in June this year. Among them, electric car sales soared by 55%, while diesel car sales declined by 10%. Tesla registered 47,606 new cars in Europe in June, more than double compared to the same period last year.

2. Documents show that Tesla has requested an extension of the deadline for its battery production facility in Germany and the construction of a water recycling facility. The renovated factory is planned to be operational in the first half of 2024.

3. Asmei expects net sales in the third quarter to be between 6.5 billion euros and 7 billion euros, with market expectations at 6.51 billion euros. The company has raised its annual guidance, expecting a net sales growth of 30%. Order volume in the second quarter was 4.5 billion euros, with market expectations at 3.98 billion euros.

4. According to the Financial Times, the European Commission will launch a formal antitrust investigation next week into Microsoft's bundling of video conferencing and chat tool Teams with its office software Office.

5. Carvana reported a loss of 55 cents per share in the second quarter. The company expects its inventory scale to remain close to current levels. Net loss in the second quarter was $105 million, compared to a net loss of $439 million in the same period last year.

Pre-market Movers

In pre-market trading, Dow Jones futures rose by 0.13%, Nasdaq futures rose by 0.15%, and S&P 500 futures rose.

Alibaba and Pinduoduo rose more than 2%, BEKE-W rose 1.6%, JD.com rose 1.8%, BILIBILI-W and XPENG-W rose more than 2%, Baidu and NIO rose more than 1%, and iQiyi rose more than 3%.

US Stock Strategies

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5. How can a $700 billion Robotaxi valuation save Tesla?

6. ASML, the giant of lithography machines, raises full-year sales guidance with a backlog of €38 billion