On Tuesday local time, all three major US stock indices fell. Analysis suggests that the first quarter of the US stock market is coming to an end, and in recent days, the market has been mainly affected by quarter end position adjustments and asset allocation rebalancing.
On Tuesday morning local time, Trump Media Technology Group jumped over 50% and temporarily suspended trading due to significant fluctuations. As of the close, Trump Media Technology Group rose 16.10%, with its latest market value reaching approximately $6.6 billion.
The latest news suggests that Trump's "sky high margin" has been reduced. According to CCTV News, on the 25th local time, an appeals court in New York, USA, agreed to lower the deposit required by former Republican President Trump for financial fraud from around $500 million to $175 million, and gave him a 10 day payment period.
On March 26th local time, Apple announced that it will hold the annual World Developers Conference (WWDC) online from June 10th to 14th local time, aiming to showcase new versions of operating systems such as iOS, iPadOS, macOS, watchOS, tvOS, and visionOS.
All three major US stock indices closed lower
On Tuesday local time, the three major US stock indexes collectively closed lower. As of the close, the Dow Jones Industrial Average fell 0.08% to 39282.33 points, the S&P 500 Index fell 0.28% to 5203.58 points, and the Nasdaq fell 0.42% to 16315.70 points. The Dow Jones and S&P 500 Index recorded their third consecutive day of decline.
Analysis shows that the first quarter of the US stock market is coming to an end, and in recent days, the market has been mainly affected by quarter end position adjustments and asset allocation rebalancing.
On the market, most technology stocks fell, with Apple down 0.67%, Amazon down 0.78%, Netflix up 0.28%, Google up 0.4%, Facebook down 1.42%, and Microsoft down 0.29%.
Tesla rose over 6.7% in early trading and ultimately closed up 2.9%. On the news front, Tesla CEO Elon Musk announced that starting this week, all Tesla models in the United States equipped with fully autonomous driving (FSD) function can try it out for free for one month.
In terms of Chinese concept stocks, the Nasdaq China Golden Dragon Index fell 0.55%, Alibaba rose 0.03%, Baidu fell 1.89%, Pinduoduo rose 0.19%, JD.com fell 1.64%, NetEase rose 0.62%, NIO fell 2.44%, Ideal Automobile rose 0.46%, and Xiaopeng Automobile fell 0.35%.
In the European market, major stock indices have all risen, with Germany's DAX30 index up 0.67%, the UK's FTSE 100 index up 0.17%, France's CAC40 index up 0.41%, and Europe's Stoxx 50 index up 0.4%.
Trump Media Technology Group's debut: up over 16%
Trump Media Technology Group (TMTG) and Shell Company DWAC announced on Monday that their business merger and acquisition deal has been completed. On Tuesday local time, Trump Media Technology Group, which completed a reverse merger, was listed for trading on the NASDAQ exchange with the trading code "DJT".
On Tuesday morning local time, Trump Media Technology Group jumped over 50% to a high of $79.38 per share, and temporarily suspended trading due to excessive volatility. As of the close, Trump Media Technology Group rose 16.10%, with its latest market value reaching approximately $6.6 billion.
Analysis suggests that currently, retail investors have become the main driving force behind the stock's rise. In the past few weeks, thousands of retail investors have continued to purchase DWAC stocks to express their support for Trump. Although fundamentally speaking, Trump Media Technology Group has not yet made a profit. The data shows that the company suffered a loss of $49 million in the first nine months of last year, while its revenue was only $3.4 million.
According to public information, after going public, Trump will hold nearly 60% of the company's equity. Due to the lockdown period of the transaction, Trump is unable to easily sell his shares within 6 months. However, once the restriction expires, he can choose to monetize it.
Currently, Trump is facing multiple legal litigation costs and compensation. The latest news suggests that Trump is facing a reduction in his "sky high margin". According to CCTV News, on the 25th local time, an appeals court in New York, USA, agreed to lower the deposit required by former Republican President Trump for financial fraud from around $500 million to $175 million, and gave him a 10 day payment period.
Trump faces approximately $454 million in fines and interest in New York State for illegal activities such as financial fraud. Trump appealed against this. But in order to suspend the execution of the punishment, he was originally required to pay a security deposit equivalent to 1.1 times the total amount of fines and other related payments to the court. If Trump's appeal is successful, the deposit will be returned in full.
On the same 25th, another New York City judge ruled that the trial of Trump's "sealing fee" case could not be further delayed. According to CCTV News, on March 25th local time, former US President Trump arrived at a New York court to attend a hearing to finalize the trial date for the "sealing fee" case. Judge Juan Manuel Melchan of the Supreme Court of New York in the United States has rejected the Trump team's request for a further postponement of the trial date in this case, ruling that the case will be heard on April 15th.
The jury selection for this case was originally scheduled to begin on March 25th, but earlier this month, due to Trump's defense lawyer claiming that federal prosecutors had delayed the submission of over 100000 pages of potential evidence related to the case, Mel Shang has postponed the trial date. On the 25th, Melzan ruled that the prosecutor had no fault in the late submission of evidence.
At the end of March 2023, the prosecutor in charge of the case, Prague, charged Trump with 34 counts of serious crimes, alleging that he had entrusted Cohen to pay $130000 in "sealing fees" to the sex star Daniels to prevent the scandal from affecting his 2016 presidential campaign. He then forged business records and returned Cohen's advance payments in installments under the guise of "lawyer fees" to cover up his violation of New York state and federal election regulations.
The Apple Developer Conference will be held in June
AI strategy has received much attention
On March 26th local time, Apple announced that it will hold the annual World Developers Conference (WWDC) online from June 10th to 14th local time, aiming to showcase new versions of operating systems such as iOS, iPadOS, macOS, watchOS, tvOS, and visionOS. WWDC, as an important platform for Apple to communicate and explore innovation with developers around the world, has always attracted global attention.
The update of iOS 18 has received widespread attention from users and developers. There are rumors that iOS 18 will undergo a large-scale UI element redesign after iOS 17, but the design changes for Apple Vision Pro and visionOS may not be significant.
Apple's AI strategy has also become a focus of external attention. It is reported that Apple will launch a new AI app store at the developer conference, guiding consumers to obtain AI applications from a range of suppliers. Meanwhile, the conference may also reveal details about the collaboration between iPhone and Google Gemini. Previously, Apple was in talks with Google to integrate the iPhone into Google's Gemini model.
In February of this year, Apple CEO Cook stated that the company was investing heavily in the field of artificial intelligence and hinted that there would be a heavyweight news release later this year. The industry believes that WWDC will be the best stage for Apple to showcase its artificial intelligence achievements.
It is reported that as this year's exhibition coincides with the first anniversary of Vision Pro's release, it is expected that there may be more displays of applications and features based on its visionOS operating system.
