During the holiday season, overseas markets surged.

The market opens tomorrow! Friends who held stocks during the holiday feel like they lost a billion and can't wait for the market to reopen—this is an unprecedented feeling. May, the month of pomegranate flowers, is worth looking forward to, mainly because global stock markets performed exceptionally well during the holiday, and the overall news sentiment is bullish. Let me break down the key news for you:

1. Actively develop venture capital and grow patient capital (previously, it was about invigorating the capital market; now, the focus is on nurturing patient capital, indicating a shift toward attracting long-term stable funds into the market);

2. Promote high-quality development in the real estate sector (real estate remains one of China's pillar industries and cannot collapse. Before the holiday, Beijing relaxed some real estate policies, and during the holiday, Shenzhen followed suit. First-tier cities are experimenting with deregulation, and a full cancellation of purchase restrictions is the inevitable trend);

3. Implement the action plan for large-scale equipment upgrades and consumer goods trade-ins;

4. Flexibly use policy tools such as interest rates and reserve requirements to reduce overall financing costs (signaling that rate cuts and reserve requirement reductions are on the way);

5. An important meeting is scheduled for July. Last year's July meeting triggered a rush into the market, and this year's July meeting is equally anticipated.

II. The Fed's Rate Decision Is Out
The Fed kept interest rates unchanged, in line with market expectations. Powell stated that the next policy rate adjustment is unlikely to be a hike. Starting June 1, the Fed will reduce its monthly Treasury bond runoff from $60 billion to $25 billion.

The key takeaway: U.S. non-farm payrolls for April came in at 175,000, far below the expected 240,000 and the lowest since October 2023. This has heightened expectations for a Fed rate cut, with traders moving the anticipated first cut from November to September. Swaps markets now predict two 25-basis-point cuts this year, up from one before the jobs data release. This triggered a global stock market rally.

1. Berkshire Hathaway's Q1 operating income reached $11.22 billion, up 32% QoQ and 39.1% YoY; insurance underwriting income was $2.6 billion. Proof that stock trading can indeed make you rich!
2. Berkshire Hathaway's cash reserves hit a record $189 billion in Q1, up from $167.6 billion at the end of last year. Mainly because Buffett hasn't found good investment targets, so he's sitting on a pile of cash.
3. Berkshire Hathaway: Q1 net profit reached $12.702 billion, exceeding market expectations. Buffett is harvesting globally, with his shorting of the yen stealing the spotlight!
4. Berkshire Hathaway: As of March 31, its Apple stock holdings dropped from $174.3 billion to $135.4 billion. Buffett trimmed his Apple stake but remains bullish—similar to how he initially reduced his BYD position while praising it, only to eventually exit entirely. This is bearish for Apple-related stocks, but Apple's Q2 revenue and profit both beat expectations, and the company announced an additional $110 billion stock buyback, so Buffett's sell-off may have limited short-term impact.
5. Key takeaway: When asked if he would continue investing in China, Buffett replied, "Our main investments will be in the U.S." Is this a soft rejection? But Buffett has made mistakes before. The A-share market will keep turning without him!

III. Outbound Travel Surges During May Day, with Chinese Tourists Visiting 1,035 Cities Worldwide

This May Day holiday saw an explosion in outbound travel. Platform data shows that international flight bookings for May 1, 2024, surpassed 2019 levels, setting a new single-day record for May Day. Bookings for many visa-free destinations exceeded 2019 levels by over 30%. Chinese tourists booked hotels in 1,035 cities worldwide, driving a recovery in global consumption. "Chinese holidays" have once again become peak seasons for global tourism.

The travel boom is, of course, bullish for hotel and tourism stocks. But after the May Day hype, the next peak season is summer vacation, so be wary of a pullback in the tourism sector.

IV. Global Stock Markets Soar

The Hang Seng Index rose for the ninth consecutive day, marking its longest winning streak since 2018. During the holiday, the Hang Seng Index surged over 4.7%, while the Hang Seng Tech Index jumped over 8%, hitting its highest level since late November 2023. The Golden Dragon Index of U.S.-listed Chinese stocks soared over 8%, and the FTSE China 3x Long ETF skyrocketed nearly 20%. The RMB also appreciated significantly. A strong open for A-shares tomorrow is a given, and a rally from open to close is highly likely. Just hope quant funds don't spoil the party—otherwise, regulators will come knocking!

V. Nearly 40 Listed Companies Face Delisting Risks

On April 30, at least 40 listed companies announced trading halts, with 40 facing delisting risk warnings or other risk alerts. These stocks will see ticker changes on May 6, and those under delisting risk warnings will be "star-marked."

These companies include: Zhongrun Resources, Zhengtong Electronics, Yangtze Health, Yongyue Technology, Infintronic, Yinjiang Technology, Elion Clean Energy, New Intelligence, Tianshin Fashion, My Gym, Longyu Shares, Kelida, Jingfeng Pharmaceutical, Jiangsu Sunshine, Huwei Electronics, Guizhou Bailing, Gaohong Shares, Futong Information, Chaohua Tech, Baili Tech, Aiko Solar, etc. Thankfully, the earnings season is over, so most bombs have already exploded, leaving room for speculative stocks to shine.