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US stocks closed | The three major indices collectively closed higher. The NASDAQ hit a new high in nearly eight and a half months, the China Index surged more than 4%, and JD and Baidu rose more than 6%

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Steven000 wrote a column · May 15, 2023 21:03
On Monday, May 15, the market continued to focus on the US debt ceiling negotiations and the possibility of the first debt default in history. Risk sentiment fluctuated uneasily.

US stocks collectively fell rapidly after opening slightly higher. After 40 minutes of opening, they fell sharply, and the Dow fell nearly 140 points. Only Russell small-cap stocks maintained their gains. However, at noon trading, US stocks turned up again, and the NASDAQ rose 0.7%, leading the major stock indexes along with Russell's small-cap stocks, which rose more than 1%.

By the close, the S&P 500 index had stopped falling for two days, close to recovering the decline since last Wednesday. The Dow stopped falling for five days and rebounded from a one-week low. The NASDAQ index hit its highest level since August 25 last year, and the NASDAQ 100 hit its highest level since August 18 last year:
US stocks closed | The three major indices collectively closed higher. The NASDAQ hit a new high in nearly eight and a half months, the China Index surged more ...
$S&P 500 Index(.SPX.US)$ It closed up 12.20 points, or 0.30%, to 4136.28 points. $Dow Jones Industrial Average(.DJI.US)$ It closed up 47.98 points, or 0.14%, to 33348.60 points. $Nasdaq Composite Index(.IXIC.US)$ It closed up 80.47 points, or 0.66%, to 12365.21 points. $Invesco QQQ Trust(QQQ.US)$ rose 0.6%, $Ishares Russell 2000 Value Etf(IWN.US)$ Up 1.2%. $Materials Select Sector SPDR ETF(XLB.US)$ 、 $Financial Select Sector SPDR Fund(XLF.US)$ 、 $The Technology Select Sector SPDR® Fund(XLK.US)$ Both increased by about 0.7%, $Utilities Select Sector SPDR Fund(XLU.US)$ Decreased by more than 1%.

Russell's small-cap stocks rose more than 1%, leading the day, and the NASDAQ hit an eight-and-a-half-month high

Star tech stocks had mixed ups and downs. “metaverse” $Meta Platforms(META.US)$ It rose more than 2% to a two-week high; $Apple(AAPL.US)$ fell 0.3% to a one-week low; $Amazon(AMZN.US)$ Turned up 0.9%; $Netflix(NFLX.US)$ Decreased by more than 1%; $Microsoft(MSFT.US)$ After falling 0.4%, it turned up, and is still close to a 13-month high; $Alphabet-A(GOOGL.US)$ It fell nearly 1%, falling short of a nine-month high. Last week, it rose more than 11% to the best weekly performance since March 17; $Tesla(TSLA.US)$ The increase failed, and it fell 1% to a new one-week low.
US stocks closed | The three major indices collectively closed higher. The NASDAQ hit a new high in nearly eight and a half months, the China Index surged more ...
Chip stocks generally rose. $PHLX Semiconductor Index(.SOX.US)$ It rose 2.7% to a four-week high of 3,000 points. $Advanced Micro Devices(AMD.US)$ It rose more than 2% to a one-and-a-half-month high. $NVIDIA(NVDA.US)$ It rose more than 2% to a one-week high. $Intel(INTC.US)$ An increase of nearly 3%, $Western Digital(WDC.US)$ The increase was over 11% to the highest in five weeks.
US stocks closed | The three major indices collectively closed higher. The NASDAQ hit a new high in nearly eight and a half months, the China Index surged more ...
AI concept stocks have rebounded. $C3.ai(AI.US)$ Leading the way with an increase of over 23%, reaching a six-week high; $BigBear.ai Holdings(BBAI.US)$ It rose more than 5%, breaking away from a new low of more than five weeks; $SoundHound AI(SOUN.US)$ i turned up nearly 5%, breaking away from a one-week low and recovering the decline since last Wednesday.
US stocks closed | The three major indices collectively closed higher. The NASDAQ hit a new high in nearly eight and a half months, the China Index surged more ...
According to the news, C3.ai's revenue for the first quarter exceeded expectations. Microsoft's $69 billion deal to buy Activision Blizzard was approved by the European Union. The British antitrust regulator still opposed the deal. Activision Blizzard rose as high as nearly 2%, rising for four consecutive days and recovering the decline since April 26. Citing “brighter revenue prospects”, Loop Capital raised the Meta rating to “buy,” fearing that user search and interaction with AI assistants would change behavioral patterns, harming Apple to maintain its dominant position through large-scale technological transformation, and downgraded Apple's rating to “hold.” According to the media, Western Digital is speeding up discussions with Japanese computer memory chip maker Kioxia Holdings (Kioxia Holdings) to merge the NAND flash memory business. The new company will directly challenge Samsung, the largest manufacturer in this field, and may go public independently.
The most popular ones generally outperformed. Mid-term ETF $KraneShares CSI China Internet ETF(KWEB.US)$ Closing up 5.8%, $Invesco China Technology ETF(CQQQ.US)$ up 4.7%, $NASDAQ Golden Dragon China(.HXC.US)$ It rose 4% to its highest level in nearly four weeks. Of the four constituent stocks of NASDAQ 100, $JD.com(JD.US)$ Up nearly 7%, $PDD Holdings(PDD.US)$ An increase of more than 4%, $Baidu(BIDU.US)$ An increase of more than 6%, $NetEase(NTES.US)$ Up 5.5%. Among other individual stocks, $Alibaba(BABA.US)$ Increased by 3.5%, $Tencent(TCEHY.US)$ with $Bilibili(BILI.US)$ An increase of more than 7%, $Tencent Music(TME.US)$ It rose more than 9%, and the “new car building forces” were only $XPeng(XPEV.US)$ fall, $NIO Inc(NIO.US)$ Up nearly 4%.

The bank stock index also rebounded significantly, with the Philadelphia Stock Exchange, the industry benchmark $KBW Nasdaq Bank Index(.BKX.US)$ It rose 2.6%, and was close to the lowest since October 2020, which was set on May 4 last Friday. $Spdr Series Trust S&P Regional Bkg Etf(KRE.US)$ The increase was more than 3%, and was close to the lowest since October 2020, which was set on May 4 last Thursday.
US stocks closed | The three major indices collectively closed higher. The NASDAQ hit a new high in nearly eight and a half months, the China Index surged more ...
Among the “Big Four US Banks” $Wells Fargo & Co(WFC.US)$ Leading the way with a 3.4% increase, $JPMorgan(JPM.US)$ The smallest increase of 0.9% was raised by Raymond James, an asset management giant that outperformed the market and predicted another 30% increase in stock prices $Charles Schwab(SCHW.US)$ It rose 4% to the highest in the month. Among banks in key regions, $PacWest Bancorp(PACW.US)$Up more than 17%, $Western Alliance Bancorp(WAL.US)$ It rose 12% to its highest level since May 1st. $KeyCorp(KEY.US)$ An increase of more than 6%.
Important Market News
The US Treasury Secretary once again warns that the US Treasury may run out of cash before June 1
On May 15, local time, US Treasury Secretary Janet Yellen once again warned that unless the US Congress raises or suspends the federal debt limit, the US Treasury may run out of cash as early as June 1.

US House Speaker Kevin McCarthy said on the 15th that there is currently little progress in negotiations to avoid America's historic default. On the same day, US President Joe Biden announced plans to meet with congressional leaders on the 16th.

Is interest rate hikes finally being suspended? The Federal Reserve's voting committee revealed that the May meeting was already “in a state of turmoil”

On Monday (May 15) local time, Chicago Federal Reserve Chairman Austin Goolsbee (Austan Goolsbee) said that the Federal Reserve's intensive interest rate hike has not yet fully taken effect, and policymakers need to be highly cautious when evaluating next steps.

Goulsby told the media that the Federal Reserve has raised interest rates by a total of 500 basis points over the past year, and the impact of this series of monetary austerity policies has not yet fully arrived. He added that it is still too early to talk about what the bank's June meeting should do.

The Commission said in its May policy statement that when considering future monetary policy, it will pay attention to the cumulative effects of monetary austerity policies, the lag in the economy and inflation, and the subsequent development of economic and financial events. This statement was also recognized by the market as a signal that “interest rate hikes will be suspended.”

Furthermore, Richmond Federal Reserve Chairman Barkin said that current financial stability is not an obstacle to interest rate hikes that may be needed to counter inflation. Minneapolis Federal Reserve Chairman Kashkari believes that inflation is too high, but it has declined, and the Federal Reserve still has a lot of work to do. Atlanta Federal Reserve Chairman Bostic said that this year's interest rate cut was not his basic expectation. It is expected that the Fed will raise interest rates more likely, but he is inclined to suspend it.

“Deposit balance is zero” Bank of AmericaAnother explosion of news in the industry

Never thought of it,Bank of AmericaAsian savers were actually hurt the most by the industry crisis. According to the Wall Street Journal, depositor funds at the Cayman Islands branch of the US Silicon Valley Bank (SVB) have been confiscated by the US Federal Deposit Insurance Corporation (FDIC). Some institutional savers said their bank statements showed that their deposit balance at Silicon Valley Bank was zero. Earlier, SVB stated that it set up a branch in this offshore tax haven mainly to support the bank's activities in Asia.

However, for US savers, the experience is quite different from that of SVB's Cayman Islands branch customers. As soon as SVB was officially taken over by the FDIC, its US savers were “protected” by deposit insurance. An FDIC spokesperson said that according to the US Federal Deposit Insurance Act, only deposits within the US can be protected.
Important company news
Microsoft's $69 billion deal to buy Activision Blizzard was approved by the European Union. The European Commission said its analysis showed that 10 years after Microsoft made cloud computing rivals offer blockbuster games such as “Call of Duty” on its platform, the deal would not hurt competition. Previously, the UK Competition and Markets Authority (CMA) declined to approve Microsoft's deal to acquire Activision Blizzard. The agency believes that Microsoft will only provide Activision Blizzard games in Microsoft's own cloud gaming service due to commercial motives. The CMA also believes that the solution proposed by Microsoft has failed to effectively address concerns in the cloud gaming sector and has major flaws.

TeslaCEO Musk: All personnel recruitment requires own approval

According to tech media reports, on Monday local time, Musk said in an email to Tesla employees that Tesla will not recruit new employees, including temporary workers (contractors), unless he personally approves it. According to a memo seen by the media, he told executives to send him a weekly list of job requests, while also reminding them to “carefully consider” such requests before submitting them.

“Big bears” swept US stocks in the first quarter: they increased their holdings of JD and Ali to heavy stocks and bought regional banks such as First Republic

According to the 13F report, Michael Burry's hedge fund Scion Asset Management increased its holdings of JD ADR 6.763 million in the first quarter, accounting for 10.261% of its portfolio, making it the largest stock with a market value of 10.973 million US dollars and the largest market value of shares held. The hedge fund also increased its holdingsAlibabaADR 5.814 million, accounting for 9.555% of the investment portfolio. It is the second-largest stock with a market value of US$1.0218 million and second in market value.

Another major move by Burry in the first quarter was to buy shares in a number of regional banks, including First Republic Bank (FRC).

Buffett cleared NZB Mellon and other regional banks and TSMC in the first quarter, and heavily stocks Apple

According to the 13F report released on Monday, May 15: Under BuffettBerkshireHathaway did not hold positions in regional banks Bancorp or New Zealand Bank Mellon in the first quarter, nor did it hold sharessumptuousFurniture retailer RH and cleared TSMC ADR.

In the first quarter, $Berkshire Hathaway-A(BRK.A.US)$ Hathaway opened a position to expand three stocks including Capital One; increased its holdings in Apple, $Occidental Petroleum(OXY.US)$ 、 $HP Inc(HPQ.US)$ 、 $Paramount Global-A(PARAA.US)$ 、 $Citigroup(C.US)$ Wait seven stocks; reduce holdings $Chevron(CVX.US)$ with $General Motors(GM.US)$ Wait for eight stocks.
I hope my sharing can bring you some practical help. It's not easy to get excerpts. Your support, praise, and comments are all the greatest encouragement and help to me. Every review and conclusion took a lot of time and effort. Thank you to all my friends
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