Pre-market trading in US stocks | Chinese internet-related technology stocks rise across the board! Apple's iPhone 15 Pro Max is selling well, and Microsoft's acquisition of Activision Blizzard is showing a turning point.
US stock funds saw the largest outflow in 10 months. Alibaba rose 4.5%, JD.com, Pinduoduo, and Baidu rose nearly 4%, Beike rose nearly 5%, Bilibili and NetEase rose over 6%, XPeng Motors rose nearly 7%, and Li Auto and NIO rose over 4%. NVIDIA rose 1.3%, Apple, Google, and Meta rose 0.5%, Netflix rose 0.6%, and Tesla and Amazon rose nearly 1%.
Top News in US Stocks
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The Competition and Markets Authority (CMA) of the UK: The proposed deal between Microsoft and Activision Blizzard has addressed the concerns raised by the CMA, paving the way for approval. Microsoft will strive to obtain approval before the deadline on October 18th.
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Intel announced a partnership with TSMC to develop the world's first multi-chip package that complies with the Chiplet Interconnect Industry Alliance (UCIe) standard. The package includes ICs produced by both Intel and TSMC.
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The iPhone 15 series was officially released today, with scalpers offline raising prices by 700 yuan to snatch the Pro Max version.
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Faraday Future announced a management increase plan.
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VinFast, an electric vehicle manufacturer from Vietnam, expects to deliver the first batch of VF8 models to customers in France, Germany, and the Netherlands in the fourth quarter of this year. Models such as VF6, VF7, and VF9 are also expected to enter the European market next year.
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According to The Wall Street Journal, Apple's fully self-designed 5G modem is not expected to be ready until at least 2025.
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According to insiders, Apple's retail employees have received a reduced increase in salary this year. The average annual salary increase disclosed by the company this week is about 4%, returning to the levels of 2020 and earlier, ranging from 2% to 5%.
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According to Nikkei News, Toyota plans to increase its electric vehicle production to 600,000 units by 2025.
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Meituan Flash Purchase: Sales of the iPhone 15 series increased 13 times compared to the iPhone 14 series.
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Bank of America: The stock market has experienced the largest outflow of funds since December 2022.
11. In response to the 2009 antitrust case, the European Court of Justice fined Intel 376.4 million euros, stating that it engaged in a series of anti-competitive practices.
Pre-market Movement
In pre-market trading, Dow Jones futures edged up, Nasdaq futures rose 0.41%, and S&P 500 futures rose 0.24%.
Microsoft rose 0.3%, and Activision Blizzard rose nearly 2%. Microsoft's acquisition of Activision Blizzard is close to approval.
Apple, Google, and Meta rose 0.5%, Netflix rose 0.6%, and Tesla and Amazon rose nearly 1%.
Alibaba rose 4.5%, JD.com, Pinduoduo, and Baidu rose nearly 4%, Beike rose nearly 5%, Bilibili and NetEase rose over 6%, XPeng Motors rose nearly 7%, and Li Auto and NIO rose over 4%.
Analyst Views
1. Goldman Sachs raises oil price expectations across the board but deems $100 per barrel as too high
Morgan Stanley has raised its Brent crude price expectations, stating that the market may still face supply shortages in the coming quarters, especially after production cuts by Saudi Arabia and Russia. However, the bank believes that oil prices above $100 per barrel seem "excessive." The bank has raised its Q4 Brent crude price forecast from $82.5 per barrel to $95 per barrel.