On Tuesday Eastern Time, the three major US stock indexes collectively closed lower. As of the close, the Dow Jones Industrial Average fell 1.00%, the Nasdaq fell 0.95%, and the S&P 500 index fell 0.72%. Large tech stocks generally fell, with Tesla plummeting nearly 5%. The company's first quarter car production and delivery volume were 433371 and 386810, respectively, lower than expected; Microsoft, Apple, Google, Amazon, and Netflix saw a slight decline, while Meta rose by over 1%. In terms of chip and server stocks, Ansemy Semiconductor fell more than 4%, while Microelectronics, AMD, Asma, and ARM fell more than 2%, and Micron Technology and Nvidia fell more than 1%.
With digital currencies such as Bitcoin plummeting, cryptocurrency concept stocks have generally fallen, with MarathonDigital falling more than 8%, RiotPlatforms falling more than 7%, and MicroStrategy falling more than 3%.
In terms of other stocks, ChampionX rose more than 10%, and Schlumberger agreed to acquire ChampionX in full stock, with a valuation of $7.8 billion.
Popular Chinese concept stocks fluctuated, with the Nasdaq China Golden Dragon Index rising 0.32%. Bilibili rose more than 3%, iQiyi, Tencent Music, and Ideal Auto rose more than 1%, while Weibo, Vipshop, JD.com, and Baidu saw a slight increase. Xiaopeng Motors, Futu Holdings, and NIO fell more than 2%, NetEase fell more than 1%, and Pinduoduo and Alibaba fell slightly.
The main contract of COMEX gold futures broke through a record high of $2300 per ounce. In terms of news, previous Israeli airstrikes on the Iranian embassy in Syria have raised geopolitical risks as investors are flocking to gold.
Global News
Market emergency! The hardest support ushers in big variables? Will the number of interest rate cuts in the United States decrease?
The Middle East is facing a major upheaval, with official Iranian and Syrian media reporting that Israel launched an air raid on the Iranian embassy in Syria on April 1st local time, resulting in the deaths of seven people, including a senior military commander. Against the background that the Russia-Ukraine conflict has not yet ended, this means that international oil prices tend to rise but not fall. Similarly, this will also be one of the obstacles for the Federal Reserve to cut interest rates.
"One million simulations" sounded the alarm: the US debt crisis was imminent!
The Congressional Budget Office has warned in its latest forecast that by 2034, the proportion of US federal government debt to GDP will rise from 97% last year to 116%, even higher than during World War II. Moreover, the actual prospects may be even worse. The CBO's predictions released earlier this year, from taxes to defense spending to interest rates, were all based on optimistic assumptions. However, based on the current market view of interest rates (which have remained high for a longer period of time), analysts predict that the debt to GDP ratio will rise to 123% by 2034.
Oil prices hit their highest level in nearly six months! The seven major bullish factors linger: Is it difficult for the "king of commodities" not to rise?
With the prices of commodities such as gold and cocoa hitting new highs since the beginning of the year, speculation about whether the "commodity bull" will start this year has been constantly emerging in the past few weeks. And now, the spring breeze of rising prices seems to have gradually begun to blow towards crude oil, which is known as the "king of commodities"!
Bitcoin's 10 minute "diving" exceeds 6% in 24 hours, with 3.4 billion yuan evaporating and 150000 people selling out!
Starting from 10:35 am Beijing time on April 2nd, Bitcoin experienced a large-scale sell-off, and its price quickly fell. Within 10 minutes, it continuously fell below the integer levels of $67000 and $66000, with a drop of over 6% at one point. At the same time, other currencies in the virtual currency market have all experienced a massive decline. Ethereum experienced a 24-hour decline of over 7%, while Dogecoin experienced a 24-hour decline of 11.3%.
How severe is overcapacity in the photovoltaic industry? Europeans use solar panels as garden fences
In recent years, the domestic photovoltaic industry has experienced severe internal competition, and life is generally difficult. As the world's largest single crystal silicon manufacturer, Longji Green Energy's market value has evaporated by nearly 400 billion yuan from its peak. In fact, as the global photovoltaic industry tends to saturate and prices become increasingly competitive, similar "cold winters" are everywhere. In Europe, as solar panels continue to fall towards the price of cabbage, many Europeans have even used them as garden fences.
Company News
The Tesla version is coming to be far ahead! The new car adopts a completely new assembly process, which is the biggest change in car manufacturing technology in the past century?
Tesla must thoroughly reform the manufacturing process founded by Henry Ford, which has a history of 100 years. Some industry insiders have pointed out that the new process may be the biggest change in automotive manufacturing technology in over a century. At present, Tesla is gradually shifting towards a new process called "unbox", which is different from the traditional assembly line operation. This new process is more similar to "assembling LEGO blocks": the car body does not need to be transported and assembled sequentially on a conveyor belt as before. Tesla plans to assemble different parts of the vehicle simultaneously in a dedicated area of the factory, and finally assemble these large sub components together.
The rental price is as low as 2 yuan/hour! Is Nvidia A800 not fragrant anymore? Changes in the market landscape of computing power leasing
The reporter recently learned that the rental price of the popular computing power card Nvidia A800 is only 2 yuan/hour. At the same time, after the server rental price skyrocketed last year, the prices of different specifications of products have decreased to a certain extent this year. Several professionals in the computing power leasing industry have stated that the supply and demand of computing power leasing remained tight in the first quarter of this year. According to industry insiders, the supply and demand structure of the computing power leasing market is gradually adjusting, and for small and medium-sized enterprises and research institutions with AI computing demand, cost investment will be improved.
OpenAI, let go of restrictions! Users can use ChatGPT without registering
On Monday, April 1st local time, artificial intelligence (AI) company OpenAI announced that it will allow users to directly use ChatGPT without registering for the service, making it easier for people to experience the potential of artificial intelligence. OpenAI stated that it will gradually launch this feature starting from Monday, allowing over 100 million users in 185 countries and regions to use ChatGPT to learn new things, seek creative inspiration, and obtain answers to questions.
Missing Nvidia? Bank of America: Get ready to embrace the second wave of AI and buy these three stocks!
Bank of America recently stated that although the artificial intelligence trading in the stock market has benefited chip manufacturers such as Nvidia and Broadcom greatly, there are still some "second tier winners" who are expected to further rise, and the market is about to usher in a second wave of AI fever. Bank of America analyst Vivek Arya wrote in the latest report, "The rising tide may create a profitable niche market for next tier suppliers." Arya observed that the accelerator market (which enables complex internal work of generative artificial intelligence chatbots) should double in the next three years, reaching approximately $200 billion. He believes that the rapid growth of this market may bring fruitful opportunities to the second ranked supplier.
Tesla's delivery volume in the first quarter was lower than expected due to factors such as the Red Sea conflict and the Berlin factory arson case
Tesla announced on April 2nd that its first quarter car production and delivery volume were 433371 and 386810, respectively, both lower than expected. Tesla stated that part of the reason for the decline in numbers is due to the early stages of production of the upgraded Model 3 at the Fremont factory in California, as well as transportation disruptions caused by the Red Sea conflict and the Berlin super factory arson, leading to factory shutdowns.
$12.5 billion Alibaba Super Repurchase! The total repurchase scale has increased to 65 billion US dollars
On the evening of April 2nd, Alibaba announced on the Hong Kong Stock Exchange that it had repurchased a total of 524 million shares of common stock (equivalent to 65 million American depositary shares) for a total price of $4.8 billion during the quarter ended March 31, 2024. As of the financial year ended March 31, 2024, a total of 1.249 billion shares of common stock were repurchased for a total price of $12.5 billion, equivalent to 156 million American depositary shares. The annual investment of nearly 100 billion yuan in repo means that Ali has become the Chinese Internet company with the largest repo strength in the past fiscal year.