[Morning Report] Scandinavian Fintech funded by Sofbank G, the biggest US listing plan this year, Apple abandons EV development plan - human resources shift to generative AI

moomooニュース米国株 wrote a column · Feb 28, 2024 07:09

[Morning Report] Scandinavian Fintech funded by Sofbank G, the biggest US listing plan this year, Apple abandons EV development plan - human resources shift to ...

Good morning to all Moomoo users!Here are the key points of this morning's first report.
● [Tokyo stock market forecast range] 38,900 yen - 39,500 yen (closing price 39,239 yen 52 sen on the 27th)
● Sofbank G-funded Kranah contacts multiple banks due to US listing plan - stakeholders
● Apple finally abandons EV development plan - shifting resources to generative AI
● The number of millionaires with a US defined contribution plan 401 (k) is approaching a record high
● Bitcoin is high for the first time in 2 years. Buying of virtual currency-related stocks intensified, and the highest rate of increase is close to 900% since last year!
● Sony G to cut approximately 900 jobs in game business
ー MooMoo News Mark

Market Overview
In the US stock market on the 27th, the NY Dow Jones Industrial Average continued to fall to 38,972 dollars 41 cents, 96 dollars 82 cents lower than the previous business day. The Nasdaq Composite Stock Price Index rose 59.049 points to 10,6035.300. Amid the exchange of sales and purchases in the Tokyo stock market on the 28th, it is expected that the upper price will be heavy. The Nikkei Stock Average is in the first half of the 39,000 yen range, and it seems that strengths and weaknesses will conflict.

Top news
Sofbank G-funded Kranah contacts multiple banks due to US listing plan - stakeholders
$SoftBank Group (9984.JP)$The Swedish fintech company Kranabank, which has invested in it, is advancing its US listing plan. The person concerned, who is familiar with the situation, made it clear. Kranah used to be the startup with the highest corporate value in Europe, and there is a possibility that it will be one of the biggest initial public offerings (IPOs) this year.

Arm's first bullish group lowered their investment decisions, and they can no longer justify buying due to soaring stock prices
$SoftBank Group (9984.JP)$British semiconductor design company under its umbrella $Arm Holdings (ARM.US)$The sharp rise in stock prices boosted valuation to a level where even the bullies from the beginning judged it to be overvalued. New Street Research lowered Arm's investment decision from “buy” to “neutral.” Arm stock prices have more than doubled this month alone.

Apple finally abandons EV development plan — shifting resources to generative AI
paddy $Apple (AAPL.US)$will stop a 10-year effort to develop electric vehicles (EVs). Multiple stakeholders who are familiar with the situation have made it clear. One of the most ambitious projects in the company's history will be abandoned.
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US Treasury Secretary Yellen says monetary tightening is a risk factor for the global outlook
US Treasury Secretary Yellen cited interest rate hikes by central banks in countries/regions around the world as a potential risk to an overall favorable economic outlook. Mr. Yellen held a press conference on the 27th in Sao Paulo, Brazil prior to the 20 countries/regions (G20) finance ministers and central bank governors meeting, and said, “Tightening monetary policies have been implemented in many countries. That is creating downward risk,” he said.
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The NY Dow continues to fall, and the mood spreads in anticipation of 96 dollar depreciation inflation
Fed Director Bowman: “We're not at that point yet” - it's too early to start cutting interest rates
This year's US interest rate cuts factored in by the interest rate swap market temporarily shrunk to 75 bp

Goldman CEO questions the certainty of soft landing predictions
David Solomon, Chief Executive Officer (CEO) of the Bank of America Goldman Sachs Group, stated that the softening of private consumption raises questions about predictions that the US economy will avoid a recession (recession).
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The possibility of a soft landing for the global economy is increasing - G20 draft statement

Dollar sales strengthen due to unexpected deterioration in the US consumer confidence index for February
The US February Consumer Confidence Index announced by the conference board was 106.7, which declined from 1/110.9, contrary to improvement expectations. The January portion was also drastically revised downward from 114.8 to 110.9. US 10-year bond yields fell from 4.30% to 4.28% due to an unexpected deterioration in the consumer confidence index. Dollar buying also declined, and the dollar and yen fell from a high price of 150 yen 44 yen to 150 yen 30 yen.
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The preliminary US durable goods order value for January was -6.1% lower than expected

The number of millionaires on the US Defined Contribution Pension 401 (k) is approaching a record high
The number of millionaires with a balance of 1 million dollars (about 150 million yen) or more with a defined contribution plan 401 (k) in the United States is approaching a record high. The number of accounts with 7 digits or more at Fidelity Investments increased 20% from 2023/10-12 (fourth quarter) to 422,000, recovering rapidly from a 7.7% decrease in the previous quarter. I found out in an analysis announced by Fidelity on the 27th.
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Bitcoin is high for the first time in 2 years, and the highest rate of increase of nearly 900% since last year, when purchases of virtual currency-related stocks intensified!
virtual currency $Bitcoin (BTC.CC)$It was traded on the 27th Asian time and exceeded 57,000 dollars for the first time since the end of 2021, and recorded a high for the first time in 2 years. It's up 33% year to date. Buying into virtual currency (crypto assets) has intensified, $Crypto (LIST20010.US)$Well then, $CleanSpark (CLSK.US)$has soared by about 24%, and the year-to-date rate of increase has reached 84%.

German SAP, whose stock prices are soaring, will rise another 80% - JPMorgan is bullish
The pace of increase in sales of SAP in Germany, the largest software company in Europe, is accelerating, and there is also a possibility that stock prices will rise further due to the possibility of expanding share buybacks. One of the most bullish analysts on the same stock points it out.

Sony G to cut nearly 900 jobs in game business
$Sony Group (6758.JP)$Sony Interactive Entertainment (SIE), which handles the game console “PlayStation (PS)” under its umbrella, revealed that it is planning to reduce about 900 people, which is 8% of its employees. It is said that this is to respond to rapid progress in the game industry.

Tokyo Stock Exchange Rate Forecast
Stock exchange rate forecast for the 28th = trading exchange is also heavy, ahead of US important economic indicators

Foreign substitutes

Key Market Events