Breakfast | US stocks sluggish on the eve of heavyweight inflation data, lack of highlights in Apple's conference dragging down stock prices
Market awaits US August CPI and PPI, reigniting fears of "rising oil prices will push up inflation," causing US stocks to open and trade lower. Oracle suffered heavy selling. Apple's new products failed to exceed market expectations, leading to a widening decline in Apple's stock price during the product launch event. UBS lowered its shipment expectations for the iPhone 15. Morgan Stanley's unusually optimistic forecast for Tesla was questioned by several peers. TSMC subscribed to Arm shares for no more than $100 million. TikTok fully launched its e-commerce business "TikTok Shop" in the United States. 10 cities in mainland China have fully lifted purchase restrictions.
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Market: Overnight and this morning's market
The market is awaiting the release of US August CPI and PPI inflation data on Wednesday and Thursday respectively. At the same time, the market is reigniting fears of "rising oil prices leading to inflation." US stocks opened low and continued to decline, with the S&P and Nasdaq ending their two-day rally. The S&P 500 Index fell 0.57% and the Nasdaq fell 1%; the Dow ended its three-day rally with a decline of 0.05%.
Star tech stocks fell across the board. Meta and Microsoft fell nearly 2%, Amazon and Google A shares fell over 1%, Apple fell 1.7%, Netflix fell 2.4%, and Tesla fell over 2%. WeWork rose 89%, surging as much as 119% intraday. Oracle was heavily sold off, with a sharp decline of over 13% intraday and a 9% decline at the close.
Popular Chinese concept stocks fell, with JD.com down 0.6%, Baidu slightly down, and Pinduoduo up 1.5%. Alibaba fell 0.5%, Tencent ADR rose 0.3%, and Bilibili rose 0.4%. New energy vehicles rose across the board, with NIO up over 2%, Li Auto up nearly 3%, and XPeng up nearly 1%.
What happened to blue-chip and hot stocks
News: Samsung Electronics to raise prices of mobile storage chips by 10-20%
Media reports suggest that Samsung Electronics also expects demand in the memory chip market to exceed supply starting from the fourth quarter. There are also reports that Samsung's NAND flash production cuts have reached 40%, with a target of 50% by the end of the year. There are rumors that Samsung is collaborating with Microsoft to develop chatbots.
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iPhone 15 and iPhone 15 Plus are equipped with the A16 Bionic chip and feature the Dynamic Island. They adopt the USB Type-C interface.
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iPhone 15 Pro and iPhone 15 Pro Max are equipped with the A17 Pro chip and feature the Dynamic Island. They have a titanium metal frame and are the lightest Pro models to date. The mute button has been replaced with a customizable operation button. They adopt the USB Type-C interface and support USB 3.
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Apple Watch Series 9 is equipped with the S9 chip and introduces the function of controlling gestures by pinching fingers twice. It is equipped with a new second-generation ultra-wideband chip that can locate the iPhone. It features narrow bezels and a RETINA screen with an always-on display.
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Apple Watch Ultra 2 has launched an exclusive new watch face. With typical usage after a single charge, the battery life can last up to 36 hours.
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AirPods Pro for USB-C version has been released. The VR headset Vision Pro will begin shipping in early next year.
During the press conference, Apple's stock price extended its decline and ultimately closed down 1.7%.
UBS lowers iPhone 15 shipment expectations
Due to risks such as competition from Huawei's new devices, the shipment expectations for the Apple iPhone 15 series have been revised down from 80-90 million units to 78 million units.
The optimistic prediction by Morgan Stanley analyst Adam Jonas about "Dojo supercomputer potentially adding $500 billion in market value to Tesla, Tesla's stock price expected to reach $400" has faced skepticism from peers.
Google faces the largest antitrust lawsuit in twenty years in the United States!
Lawyers from the U.S. Department of Justice accused Google of spending over $10 billion a year to maintain its position as the default search engine on the internet and mobile devices, thereby stifling market competition. Google claims that its search engine ranks first because users prefer it, not because of a lack of competition.
Microsoft and Oracle to announce partnership update on Thursday afternoon
TSMC board approves up to $100 million investment in Arm shares
There are also reports that TSMC plans to double its AI semiconductor capacity.
White House: Eight companies, including NVIDIA, voluntarily commit to managing AI risks, including conducting security testing and adding digital watermarks.
Meituan promotes five business leaders to vice presidents
The promoted leaders are responsible for departments including catering, grocery shopping, flash sales, and drones.
TikTok launches comprehensive e-commerce business "TikTok Shop" in the United States
Features include video shopping in the feed, product displays, merchant tags, alliance programs, merchant advertising, and secure checkout.
Macro: Taking You Around the World
US to Release August CPI Data
As the final heavyweight data before the Federal Reserve's interest rate meeting, the performance of inflation will have the greatest impact on the currently divided internal dynamics of the Federal Reserve. Barclays and Bank of America predict that the MoM growth of CPI in August will be 0.6%, far higher than July's 0.2%, while the YoY growth of CPI will reach 3.6-3.7%, compared to 3.2% in July.
More and More Fund Managers Believe the Federal Reserve Will Not Raise Interest Rates Further
According to the Bank of America's September Global Fund Manager Survey, 60% of the surveyed fund managers expect that the Federal Reserve will not raise interest rates further, higher than the 47% in August and 9% in July.
The prices of online commodities in the US dropped by 3.2% YoY in August. According to this data, it marks the 12th consecutive month of decline and the largest drop since April 2020.
Beijing Relaxes Guidance Price Restrictions for Second-hand Homes. Zhengzhou Will Completely Lift Purchase and Sales Restrictions and Lower the Down Payment Ratio for Second Homes Starting from the 12th. Media reports that 10 cities have already completely lifted purchase restrictions.
The CPC Central Committee and the State Council Issue the "Opinions on Supporting Fujian in Exploring a New Path for Integrated Development Across the Taiwan Strait and Building a Demonstration Zone for Integrated Development Across the Taiwan Strait".