Breakfast | US Treasury yields return to more than a decade high, putting pressure on US stocks; Meta releases new VR headset.

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Market: Overnight and this morning

US stock index futures opened higher, with all three major index futures up about 0.15%.

US bond yields return to a more than decade-high, Dow hits four-month low

As US bond yields rebounded and returned to a more than decade-high, and US oil prices hit a one-year high, US stocks were under pressure. The S&P and Nasdaq barely closed higher, while the Dow fell for the sixth consecutive day in the past seven trading days.

The late-stage decline of star tech stocks narrowed. Meta fell 0.4%, Tesla fell 1.5%, Google A rose 1.5%, Apple fell nearly 1%, Netflix fell 0.4%, Microsoft rose 0.2%, and Amazon remained flat. Intel rose over 2%, AMD rose over 2%, Nvidia rose 1.3%, and Arm fell 1%. Faraday Future fell 44.31% and plans to raise up to $90 million in Class A common stock through ATM, with Jia Yueting investing about 21.9 billion yuan in the car-making project over the past nine years, but only delivering three vehicles.

Popular Chinese concept stocks followed the rise of US stocks in the late session. JD.com fell 0.3%, Baidu rose 0.4%, Pinduoduo rose over 1%, Alibaba rose 0.3%, Bilibili rose over 1%, Tencent ADR rose 0.7%, NIO rose 0.6%, Li Auto rose 0.4%, and XPeng rose nearly 3%.

What happened to blue-chip stocks and hot stocks

Meta releases new Quest 3 VR headset

Meta has released the new Quest 3 VR headset, with a starting price of $499, which is $200 higher than the previous generation. It will be equipped with a more powerful chip provided by Qualcomm.

Guo Mingchi: Acquiring a car company is the best solution for Apple's car project to start production in a few years

Guo Mingchi, an analyst at TF Securities, said that the Apple car project is currently "silent" and if they want to start production "in the next few years," the best solution is to acquire a car company and enter the automotive market using existing plans.

Unsatisfied with the ruling, the battle between Epic and Apple enters the Supreme Court stage

Epic Games Inc. has requested the US Supreme Court to review a ruling by a California court that found Apple's App Store policies did not violate federal antitrust laws.

FTC renews internal challenge to Microsoft-Activision deal

The US Federal Trade Commission (FTC) has once again challenged Microsoft's $69 billion acquisition of Activision Blizzard, which could attempt to reverse the deal after it is completed. The agency will continue its internal review of the acquisition, which was previously suspended during the summer. Guo Mingchi: ASML may significantly lower its 2024 EUV equipment shipment forecast by 20%-30%

Apple's demand for 3nm in 2024 is expected to be lower than anticipated. Shipments of MacBook and iPad in 2023 are projected to decrease by approximately 30% and 22% respectively, with 17 million units and 48 million units. Looking ahead to 2024, Apple's 3nm demand will be negatively impacted by the lack of growth momentum in MacBook and iPad.

OpenAI: CHATGPT is no longer limited to data before 2021 and can now browse the internet

Lululemon and Peloton announce a five-year global strategic partnership

After the announcement, Peloton's stock surged over 30% in after-hours trading.

Micron Technology's performance exceeds expectations, warns of losses in the next quarter

Micron Technology's adjusted revenue for the fourth quarter was $4.01 billion, compared to the market expectation of $3.93 billion. The adjusted operating loss for the fourth quarter was $1.21 billion, compared to the market expectation of a $1.25 billion loss.

Berkshire Hathaway, owned by Warren Buffett, reduces its stake in HP by 4.6 million shares

BYD to establish a joint venture with Uzbekistan's state-owned automotive group Uzavtosanoat

Both parties will produce electric and hybrid vehicles. The investment project plans to have a production capacity of 50,000 vehicles in phases one and two, and the capacity will reach 300,000 vehicles after phase three is completed.

Snap to shut down its enterprise AR services division

IPO Opportunities

October Rice Field and Green Source Holdings begin IPO

October Rice Field plans to issue 53.4 million shares through a Hong Kong IPO. The offering will be open for subscription from September 28th to October 5th, with a price range of HKD 13.00-15.80 per share. The IPO price is expected to be determined on October 5th, and trading is expected to commence on October 12th.

Green Source Holdings plans to issue 106.7 million shares through a Hong Kong IPO. The price range is set at HKD 6-8 per share, and the offering will be open for subscription from September 28th to October 4th. The IPO price is expected to be determined on October 4th, and trading is expected to commence on October 12th.

Macro: Taking you around the world

Media: The scale of the strike in the US automotive industry may expand According to insiders, UAW President Fein is expected to announce the follow-up plans for the strike on the morning of September 29th, and the strike may be expanded. Insiders also said that Fein is scheduled to meet with General Motors in the afternoon of the 29th to continue negotiations.

The US may exempt Korean chip manufacturers from export controls

According to Yonhap News Agency, the US may announce as early as this week an indefinite exemption from export controls on chip manufacturers such as Samsung Electronics and SK Hynix.

National leaders emphasized during the 8th collective study of the Central Political Bureau of the Communist Party of China the need to actively participate in the reform of the World Trade Organization and improve the ability to handle high-level opening up.

The Monetary Policy Committee of China's State Council expressed four major changes, and there may still be a possibility of reserve requirement ratio cuts or interest rate cuts in the fourth quarter.

The People's Bank of China: We must continue to exert efforts and seize opportunities, increase the intensity of macro policy regulation, carry out countercyclical and cross-cycle adjustments, strengthen the implementation of monetary policies already introduced, promote a low-level rebound in prices, and implement differentiated housing and credit policies based on local conditions.

Chen Huaping appointed as Vice Chairman of the China Securities Regulatory Commission by the State Council