Breakfast | US stocks bet on the end of the Fed's rate hike cycle, 8 companies including Baidu, ByteDance, and SenseTime have obtained approval for the launch of their large-scale models.
Weak economic data has sparked speculation that the Fed's rate hike cycle may be coming to an end. US stocks held onto their gains, with individual stocks showing lackluster performance. Nvidia rose 1% and Pinduoduo surged over 5%. Tesla's secret Project 42 is now under regulatory investigation. Media reports suggest that the affordable version of Tesla Model 3 will soon be launched in the Chinese market. Google will hold a press conference on October 4th. Analysts say that production of the iPhone 15 Pro Max is delayed. Baidu, ByteDance, SenseTime, and 8 other companies have received approval for their large-scale models, while Alibaba's Tongyi Qianwen did not make it onto the initial list of approvals.
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The Hong Kong Observatory: The Strong Wind Signal No. 3 will be issued between 3:00 PM and 5:00 PM today.
Market: Overnight and this morning's market
US stock index futures opened higher, with Dow Jones futures up 0.17%, S&P 500 futures and Nasdaq futures up less than 0.05%.
US economic data is not good. The revised annualized quarterly MoM growth rate of real GDP in the second quarter was 2.1%, lower than the expected and initial values (2.4%). The overall weak economic data this week has led people to bet that the Fed's rate hike cycle has ended. US stocks opened higher and barely maintained their gains at the close.
All major sectors performed weakly, with most of the star tech stocks rising and Meta falling 1%; Apple rose nearly 2%, Tesla reversed its gains and fell 0.1%, Google A rose 1%, Microsoft rose 0.1%, Netflix rose 1%, and Amazon rose 0.1%. Intel rose 0.6%, AMD rose 0.7%, and NVIDIA rose 1%, hitting a new closing high for two consecutive days. VinFast fell nearly 11%, and its market value was cut in half to $95 billion from its peak.
Popular Chinese concept indices fell slightly. JD.com fell 1.5%, Baidu rose over 3%, Pinduoduo rose over 5%. Alibaba's decline narrowed to 0.4%, Tencent ADR fell 0.7%, Bilibili, NIO, and Xpeng fell about 2%, and Xiaopeng Motors fell 1.7%. Reddy Medicine ADR rose more than 11%.
The Biden administration calls for classifying marijuana as a low-risk category of American drugs. Marijuana stocks generally rose, with Tilray Brands up more than 10%, CNBS up 11%, and VFF up 13%.
What happened to blue-chip stocks and hot stocks
Media: The new Tesla Model 3 will soon be launched in the Chinese market
The new Model 3 will be launched on September 1st, according to a Tesla store in Nanjing. Previously, it was reported that the new Model 3 will remove all radar systems, and the price is expected to be around 200,000 yuan.
Media: Apple is testing the use of 3D printers for device manufacturing
Apple is testing the use of 3D printers to produce steel chassis for its upcoming smartwatches, indicating a significant change in the company's manufacturing process. This technology eliminates the process of cutting large pieces of metal into the shape of a product.
Guo Mingxi: iPhone 15 Pro Max production is delayed, Apple is working hard to solve itforce=1&app_id=longbridge)
Guo Mingchi expects 8 content updates about the iPhone 15 series, including major production issues related to stacked CIS, panels, batteries (which expand when heated), and titanium alloy frames. The stacked CIS issue can be resolved by increasing production capacity, but it still affects about 10-15% of the shipment volume of regular models, and so on.
Amazon Launches Buy with Prime App for Shopify
This app allows Prime members to choose to use Buy with Prime before completing orders on the Shopify platform. Buy with Prime provides fast, free shipping and easy returns for Prime members through Amazon's delivery network.
Goldman Sachs Upgrades Pinduoduo ADR from Neutral to Buy, Target Price $129
Google Announces October 4th Event, Hints at AI Features
It is expected that Google will release the flagship Pixel 8 series smartphones and the Pixel Watch 2 smartwatch. On Wednesday, Google posted a video on social media hinting that the Pixel 8 will have some features that the iPhone does not have, such as AI answering unknown calls.
Media: Tesla's "Project 42" Secret Project Faces Regulatory Investigation
The U.S. Manhattan federal prosecutor is investigating a secret glass house project called "Project 42" that Tesla used company funds for. This secret project is described internally at Tesla as a house for CEO Musk and appears to be a "striking glass wall building" near Tesla's Texas headquarters.
Ocean Group's First Half Revenue Drops 11%, Board Does Not Recommend Interim Dividend
Ocean Group's loss in the first half of this year was nearly 18.4 billion yuan, exceeding the full-year loss of last year. The gross loss rate in the first half was 1%, compared to a gross profit margin of 18% in the same period last year. Ocean Group stated that the overall market environment remains sluggish, leading to a decrease in revenue and a more significant decline in gross profit margin.Evergrande Records a Loss of Approximately 45.35 Billion Yuan in the First Half of the Year
Evergrande's profit in the first half of this year was far worse than that of the same period last year, with a loss of 612 million yuan. The total revenue reached approximately 226.31 billion yuan, with a gross loss of about 24.26 billion yuan. The group's total interest-bearing debt balance decreased to 257.91 billion yuan, with a net debt ratio of 50.1%.
SenseTime's Large Model Application "SenseChat" Fully Opens for Service Today
Baidu's Large Language Model "Wenxin Yiyuan" Fully Opens to the Whole Society
Baidu will also open a batch of newly reconstructed AI native applications, allowing users to fully experience the four core capabilities of generative AI: understanding, generation, logic, and memory.
Ideal Car Releases a 10,000 Yuan Limited-time Insurance Subsidy Policy
From August 30th to September 30th, customers who purchase any of the Ideal L9, Ideal L8, or Ideal L7 models can enjoy a 10,000 yuan insurance subsidy by purchasing car insurance through a cooperative insurance institution.
Salesforce's Performance Exceeds Market Expectations
Salesforce's revenue in the second quarter was $8.6 billion, a year-on-year increase of 11%, exceeding analysts' expectations of $8.53 billion. The adjusted operating profit was $2.72 billion, exceeding analysts' expectations of $2.42 billion. The adjusted operating profit margin was 31.6%, exceeding analysts' expectations of 28.2%.
IPO Opportunities
AquilaAcq-Z: Business Merger with Zhaogang Industrial Internet Group, Zhaogang to be Listed on the Hong Kong Stock Exchange
Macro: Taking You Around the World
The revised annualized quarterly growth rate of the core PCE price index, excluding food and energy prices, was 3.7%, down 0.1% from the initial value and lower than the expected 3.8%.
ADP Employment in the U.S. Falls Below Expectations in August
ADP reported an increase of 177,000 jobs in August, lower than the expected 195,000 jobs. The previous value was revised from 324,000 to 371,000.
Australia and the EU Resume Free Trade Negotiations on Thursday, August 31st
Will Putin Visit China in October? Chinese Ministry of Foreign Affairs Responds: Relevant information will be released in due course.
The People's Bank of China Holds a Work Promotion Meeting on Financial Support for the Development of Private Enterprises, and the relevant documents on financial support for the development of private enterprises have formed a preliminary draft.Guangzhou and Shenzhen Announce "Recognize Property, Not Loan" Policy on the Same Day