[Morning Report] Tesla's letter from Nippon Steel succumbing to China's low price offensive is a “meaningless piece of paper,” and the National Steel Workers Union refuses to accept it

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Tesla has a sense of stagnation in popularity even in the US, which succumbs to China's low price offensive
The largest electric vehicle (EV) company in the US $Tesla (TSLA.US)$The global sales volume for the fiscal year ending 2024/1-3, which was announced on the 2nd, fell below the previous year's results for the first time in 4 years. The company's predicament reflects trends in the global EV market. It's an insatiable low price offensive by Chinese manufacturers and a recession in the US market. The “Chinese EV winning alone,” which was revealed as the supply chain (supply network) was divided due to the US-China confrontation, led to a decline in sales.
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Nippon Steel's letter is a “meaningless piece of paper,” and the National Steel Workers Union refuses to accept it
The American Steel Workers Union (USW) said it would commit to spending and job protection $Nippon Steel (5401.JP)$The letter from was described as a “meaningless piece of paper,” and they refused to accept it. Is Nippon Steel in the same industry $United States Steel (X.US)$It is planned to acquire it for 14.1 billion dollars (approximately 2.14 trillion yen)。

Expectations for buybacks due to sharp drop in Apple stocks from January to March - attention to whether they will leave the worst period
Rice sinks to minus 12% year to date $Apple (AAPL.US)$Attention is being drawn to whether stock prices will come here and get out of the worst period. Motivation to rewind their holdings has arisen among short sellers who have profiteed by selling Apple stock. According to technical analysis analysts, Apple stock prices are approaching a level where transactions aimed at hot spots would increase rapidly。

2 FOMC voting members still assume interest rate cuts 3 times by the end of the year
President Daly of the San Francisco Federal Reserve stated that it is still reasonable to cut policy interest rates 3 times this year, but there is no need to rush adjustments at this time. President Daly said “I think this is a very reasonable basic scenario” at an event held in Nevada on the 2nd. As of now, he said, “Growth is strong, so there is no urgency to adjust interest rates.”

Even if the yen falls to 1 dollar = 160 yen, if the reduction in US interest rates is delayed - BofA
Bank of America (BofA) predicted that if the US Federal Reserve does not cut interest rates by the end of this year, there is a possibility that the yen exchange rate will fall to 1 dollar = 160 yen.
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The number of JOLT job offers in February in the US exceeded expectations and was 8.756 million
The number of US February JOLT (Job Recruitment Labor Movement Survey) job offers announced at 11:00 p.m. on the 2nd Japan time exceeded expectations, reaching 8.756 million.

Former Murakami Fund holds over 5% of JSR shares in TOB
City Index Eleven (Tokyo/Shibuya), an investment company affiliated with the former Murakami Fund, together with its co-owners, is a major semiconductor materials company $JSR (4185.JP)$It turns out that they hold 5.11% of the shares. It was revealed in the mass ownership report submitted by the company to the Kanto Finance Bureau on the 2nd. The purpose of holding is “to give advice to management, make important proposals, etc. according to investment and circumstances.”