The Dow hit a record high for three consecutive days, the S&P** to an all-time high, and the Nasdaq** to a two-year high. On the eve of the earnings report, Microsoft rose more than 1%, and Google hit a record high。The chip stock index stopped two consecutive declinesAMD closed in the red, did not continue to fall from historical highs. Nvidia rose more than 2% to a new highTesla rose more than 4%.
After the announcement of the U.S. Treasury's first-quarter borrowing forecast cut, U.S. stocks expanded their gains, and the decline in U.S. Treasury yields widened, the 10-year yield fell below 410%, hitting a new low in more than a week,** to a new high in more than six weeks, the U.S. dollar index briefly turned lower.
* After rising more than 1% intraday, it turned down more than 1%, ending a three-game winning streak and falling to a nearly two-month high. **To a near one-week high. London nickel fell more than 2% to stop four consecutive rises, London copper **, approaching the high level of the week. Bitcoin rose above 4 intraday$30,000It hit a new high in nearly two weeks.
In the Chinese market, during the U.S. stock market, the Chinese concept stock index fell 1%, falling for three consecutive daysPinduoduo fell more than 8% and New Oriental fell more than 4%.；The offshore yuan fell more than 100 points intraday to close to 720，After a few degrees, it turned up。The Growth Enterprise Market closed down more than 3%.The Chinese word head rose sharply against the trend, PV fell hard, the three major indexes of Hong Kong stocks closed up, and WuXi was collective**.
He LifengPromote the improvement of the performance of listed companies and the restoration of investment willingness as an important measure to promote economic stability, promote stability, and establish first and then break downU.S. stocks: The Dow rose 059%, and the S&P 500 rose 076%, the Nasdaq rose 112%。State-owned Assets Supervision and Administration CommissionComprehensively promote the market value management assessment of listed companies, quantitatively evaluate the market performance of ** enterprise holding listed companies.
Ma HuatengMake every effort to develop the first live broadcast e-commerceConfidence is the most lacking in the current environment.
China EvergrandeInsolvent, was officially orderedLiquidation, China Evergrande responded: I have done my best, I am very sorry.
WuXi AppTec: The company-related content included in the draft U.S. Biosecurity ActNeither appropriate nor accurate
U.S. Department of the TreasuryLowered the forecast for the scale of borrowing in the first quarterAccidents do not increase but fall。U.S. corporate bond issuance in January was $176 billion, a record high for the same period.
Basis tradingMaybe it will become the US financial system this year."Liquidity riskThe fuse.
European stocks: Europe's STOXX 600 index closed up 021%。Germany's DAX 30 index closed down 012%。France's CAC 40 index closed up 009%。Britain's FTSE 100 index closed down 003%。
A shares: The Shanghai Composite Index closed at 288336 points, down 092%。The Shenzhen Component Index closed at 858176 points, down 206%。The GEM index closed at 162381 points, down 349%。
Bond market: The yield on the benchmark US 10-year Treasury note fell 596 basis points, at 40778%。The two-year Treasury yield fell about 350 basis points at 43159%。
commodity: WTI closed down 1 in March$23, down 158% to 76$78 barrel. Brent closed down 1 in March$15, down 138% to 82$40 barrel. COMEX closed up 040% in 2025$40 oz. London nickel closed down more than 2%, and London tin fell more than 12%。
Domestic macro
He LifengPromote the improvement of the performance of listed companies and the restoration of investment willingness as an important measure to promote economic stability, promote stability, and establish first and then break down。Listed companies are an important micro foundation for high-quality economic development, and promoting the high-quality development of listed companies will help high-level scientific and technological self-reliance and self-reliance, accelerate the construction of a modern industrial system, and help enhance market confidence. State-owned Assets Supervision and Administration Commission: Comprehensively promote the market value management assessment of listed companies, and quantitatively evaluate the market performance of listed companies controlled by enterprises. The relevant person in charge of China Shenhua said that it will actively implement the market value management assessment requirements. Seven departments including the Ministry of Industry and Information Technology: Breakthroughs in high-level intelligent networked vehicles, metaverse entrances and other super terminals with explosive potential. The opinions put forward that the development of industrial terminal products that adapt to the trend of general intelligence, support the quality and efficiency of industrial production, and empower new industrialization. The development of large-scale, wide-ranging, intelligent, convenient, and immersive consumer-level terminals to meet the new needs of digital life, digital culture, public services, etc. Gao Shanwen: China's real estate is undergoing a correction, not a bubble bursting, the second-hand housing correction has been completed, and now the core problem is it. The first-hand housing market is old, and the market cannot complete the correctionDomestic companies
Ma HuatengMake every effort to develop the first live broadcast e-commerceConfidence is the most lacking in the current environment. Ma Huateng said that WeChat is Tencent's current daily activity and the strongest platform in the entire ecosystem, but the lack of e-commerce knowledge over the years still needs to be supplemented. China Evergrande was insolvent and was officially ordered to liquidate, and China Evergrande responded: It has done its best, and it is very regrettable. Evergrande said it had tried its best to defend itself, but was eventually ordered to wind up by the court due to the slow progress of debt restructuring. WuXi AppTec: The company-related content included in the draft U.S. Biosecurity Act is neither appropriate nor accurate. As of the disclosure date of this announcement,There has been no major change in the company's daily operations, and the company's production and operation activities are normal。BYD's net profit last year was at least 29 billion yuan, earning about 80 million yuan a day, an increase of more than 70%. Sales data shows that BYD sold 302 for the whole year last year440,000 units, a year-on-year increase of 619%。Of these, exports 24280,000 units, a year-on-year increase of 3342%。China Shipbuilding: Net profit is expected to increase by 1470 year-on-year in 202395%-1761.87%。
Dong Mingzhu announced that he would issue an additional 200 million yuan year-end bonus. Dong Mingzhu was on the hot search again, this time because of the generous year-end bonus to employees, which was 200 million more. However, in previous years, Gree's year-end bonus consisted of "bonus + points in-house purchase". "The main thing is to send virtual welfare coupons to employee accounts for the purchase of Gree electrical products. "The fourth quarter has become a "nightmare" for photovoltaic companies. In the fourth quarter of 2023, silicon wafers will become the last straw that overwhelms the photovoltaic leader. JinkoSolar, as a leading PV company, saw a significant decline in profits in the fourth quarter due to the impact of modules, despite doubling its full-year performance. Wafer companies, represented by TCL Zhonghuan, experienced their first full-year performance decline. Even the most scarce links in the industry, high-purity quartz sand and large-size quartz crucibles, the profits of industry leaders in the fourth quarter have also declined month-on-month. The problem of overcapacity in the photovoltaic industry has become very serious. The world's largest lithium mine is set to cut production and change its pricing model, and Chinese lithium salters are regaining pricing power over Australian mines. Industry insiders believe that the first change of lithium concentrate will be closer to the rhythm of lithium salt, in the case of a short-term downturn in the raw material market for new energy vehicles, the easing of the global lithium resource end has been an obvious trend. Overseas macro
The U.S. Treasury Department lowered its forecast for the scale of borrowing in the first quarter, unexpectedly declining instead of increasing. The U.S. Treasury Department released its quarterly borrowing estimates, lowering its January-March borrowing estimate from $816 billion to $760 billion, and expects net borrowing of $202 billion from April-June 2024. U.S. corporate bond issuance in January was $176 billion, a record high for the same period. U.S. businesses are taking advantage of the decline in long-term borrowing costs to grab financing. Basis trading may become a trigger for "liquidity risk" in the U.S. financial system this year. Basis trading holdings in U.S. Treasuries may have exceeded $1 trillion, and the net short position in leveraged Treasuries** has also risen sharplyIf the current round of basis carry trade reverses, then liquidity problems will also spread more quickly in the financial system. Oil prices fell about 1% intraday after Israel said it agreed to an agreement on the release of detainees. According to CCTV News,Israel agreed to a 45-day truce in exchange for the release of 35 Israeli detainees。For every return of an Israeli, approximately 100 to 250 Palestinian detainees are released. India's Ministry of Finance expects economic growth to exceed 7% in the next few years. According to India's vision, the country's GDP will grow from the current 3$7 trillion to $7 trillion. Nomura: The Japanese economy no longer needs QQE, and fiscal stimulus is the key. Koo argues that after more than a decade of QQE (the largest monetary easing in human history), what the Japanese economy needs more now is fiscal stimulus to persuade companies to invest enough domestically to turn their fiscal surpluses into fiscal deficits. Overseas companies
The hottest AI "darling" ultra-micro computerShares rose 8% after hours of trading ahead of expectations for the fiscal second quarter. Supermicro's second-quarter revenue and adjusted EPS both exceeded expectations, and its third-quarter guidance also far exceeded expectations. 1、Central enterprises|*State-owned Assets Supervision and Administration Commission (SASAC) held a working meeting on the assessment and distribution of ** enterprises and local SASAC on the 29th. In terms of promoting the cultivation of new quality productivity, the SASAC will strengthen the "double-line" assessment of R&D investment and output, highlight the main position of enterprise scientific and technological innovation, and further improve the differentiated assessment mechanism in line with the laws of scientific research; Strengthen the assessment of the proportion of income and added value of strategic emerging industries, guide enterprises to accelerate the optimization of the layout structure, further promote transformation and upgrading, and go all out to develop strategic emerging industries and future industries.
Comments: Central enterprises are an important strategic force for scientific and technological innovation in key areas, and their business layout mostly involves the national economy and people's livelihood. Regarding the "all-out development of strategic emerging industries", the agency believes that China Electronics and CETC, as the "national team" of China's digital industry, are expected to use their own advantages in the future to achieve professional and strategic integration in various fields of the digital industry.
AI phones|According to ** reports, Samsung recently announced that its new flagship Galaxy S24 series has achieved unprecedented pre-order results in the Korean market. In just one pre-order period from January 19 to 25, the Galaxy S24 series has already reached 1.21 million pre-orders, a number that is the highest in the history of the S-series.
Comments: The Samsung Galaxy S24 series integrates the innovative features of Galaxy AI into many native applications, bringing more convenience to various daily use scenarios. These include real-time call translation and writing assistants to improve the communication experience, productivity tools such as note-taking assistants and transcription assistants, generative editing that rivals professional photo editing software, and instant search to reimagine the search experience on mobile phones. Analysts believe that the machine will become a milestone product in the field of AI mobile phones. In addition, Apple, Huawei, Google, and Honor Equality have also invested in the field of AI mobile phones. According to Canalys, global smartphone shipments will reach 11700 million units, a year-on-year increase of 354%, of which the shipment of AI mobile phones will reach 60 million units.
Flexible electronics|According to reports, researchers at Texas A&M University in the United States have developed a 3D-printed electron** (E-skin) using nano-engineered hydrogels with tunable electronic and thermal biosensing capabilities, which can bend, stretch and sense like humans**.
Comment: By replicating haptics and integrating them into a variety of technologies, new possibilities are opened up for human-computer interaction and advanced sensory experiences. The future of electronics** is very versatile, including wearable health devices that continuously monitor vital signs such as exercise, body temperature, heart rate, and blood pressure, providing feedback to users and helping them improve their motor skills and coordination. According to authoritative data, the market size of the flexible electronics industry will reach 301 billion US dollars (equivalent to more than 2 trillion yuan) in 2028, with a compound growth rate of nearly 30%.
Wave energy|According to reports, recently, the first set of 100 kilowatt pneumatic wave energy power generation equipment "Huaqing" developed by the China Academy of Ocean Engineering (Qingdao) was launched in Guangdong. The whole process of sea trials has verified that the pneumatic wave energy power generation equipment can achieve efficient, safe and reliable power generation under all sea conditions, and all performance indicators are at the world's leading level, and the power generation cost after large-scale development can be close to that of offshore wind power.
Comments: As a renewable energy contained in the ocean, wave energy has become a new energy source of urgent development and strategic significance because of its renewable and green environmental protection advantages. Wave power generation is the fastest growing form of marine energy utilization after tidal power generation. The theoretical value of wave energy in the earth's oceans is about 109KW, which is hundreds of times the world's total power generation, and has broad commercial prospects and strategic value. China's wave energy resources are abundant, and the wave power generation industry has been encouraged and supported by national policies, and the investment prospects are good.
Low-altitude economy|According to reports, recently, the AE200 electric vertical take-off and landing aircraft (EVTOL) developed by Wofei Changkong, an enterprise in Chengdu High-tech Zone, successfully completed its first flight, which means that EVTOL business aviation travel is expected to be the first to land in Chengdu in the future. Developed by Geely's subsidiary, Wofei Changkong, the AE200 is the first manned manned EVTOL in China to be approved by the Civil Aviation Administration of China for airworthiness approval, with a wingspan of 145 meters, machine height 46 meters, 9 meters long, the standard cockpit can carry 1 pilot and 4 passengers, and the maximum range is 200 km to 300 km.
Comments: At the ** Economic Work Conference in December 2023, the state clearly identified the "low-altitude economy" as a national strategic emerging industry. As an important part of the low-altitude economy, flying cars are gradually "flying" into reality. According to the report by Roland Berger Strategy Consultants, nearly 100,000 flying cars worldwide will be used as air** car rentals, airport shuttles and intercity airlines worldwide. Morgan Stanley also **, by 2050, the global market size of flying cars will reach 9 trillion US dollars, of which China's potential market size will reach 2$1 trillion.
Lithium|On January 29, Australian lithium miner IGO announced that it had entered into a partnership with Tianqi Lithium [002466sz、09696.HKEx] and Albemarle jointly owned by the world's largest lithium mine, the Greenbush mine, will produce a slight decrease in lithium concentrate this year to about 100,000 tons. The long-term offtake pricing model for lithium concentrate produced by the mine has also been changed and will be reset on a monthly basis. Industry insiders said that this will greatly shorten the transmission time between lithium ore and lithium salt processing.
Comments: The Galaxy ** Research Institute believes that the recent shutdown of some Australian lithium mines indicates that the current round of lithium prices** has begun to break through the cost line of spodumene mining enterprises. If the follow-up lithium price is further improved, it is expected that more solid lithium mining enterprises will stop production or delay the progress of new production capacity, so as to give support to the bottom lithium price at the first end, and then complete the bottoming and clearing of the industry. The worst moment of the lithium mining sector in the A** field is expected to pass, and we are optimistic about lithium mining enterprises with high self-sufficiency rate of lithium mines.
Microsoft, Google's parent company Alphabet, AMD, Pfizer, Starbucks, and General Motors released financial reports.
Job Vacancies for Jolts in the United States for December.
U.S. S&P CS 20 Large City Home Price Index for November.
Eurozone Q4 GDP.
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