US Market Outlook: Bitcoin to Worst Level of Decline This Year on a Weekly Basis - ETF Demand Stalls, Dow Average Starts Down $7
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Market Overview
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, depreciated 7.31 dollars to 39774.06 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, fell 14.01 points to 16387.83. The S&P 500 average, which consists of stocks of 500 companies, which are large US stocks, is 0.95 points higher at 5242.48.
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, depreciated 7.31 dollars to 39774.06 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, fell 14.01 points to 16387.83. The S&P 500 average, which consists of stocks of 500 companies, which are large US stocks, is 0.95 points higher at 5242.48.
$Dow Jones Industrial Average(.DJI.US$
$Nasdaq Composite Index(.IXIC.US$
$S&P 500 Index(.SPX.US$
Top news
Tesla announced production cuts in China due to a fall of more than 3% overtime and sluggish growth in EV sales
According to Bloomberg, $Tesla(TSLA.US$Automobile production in China is being cut due to sluggish growth in EV sales. The company's stock has fallen more than 3% in pre-market trading.
Apple discusses use of Baidu's generative AI in China
paddy $Apple(AAPL.US$It is a major search engine company in the same country for terminals provided in China, $BIDU-SW(09888.HK$Preliminary negotiations have begun with Baidu regarding the use of (Baidu) generative AI (artificial intelligence) technology. Apple is also proceeding with negotiations with US Google, US Open AI, etc. to utilize AI technology from other companies for the mobile functions of its own terminals.
Pushing for the losers Apple and Tesla?
A “loser” has emerged against the seven giant tech giants Magnificent Seven, which have led the appreciation of US stocks. There are 2 companies, Apple and Tesla. When searching for common points between the two companies, factors of decline emerge. In other words, it's 1) concerns about current poor sales and growth, and 2) a sense of being late with AI.
US Micron has room for improvement in profit margins
Major US semiconductor company $Micron Technology(MU.US$It will be safe as long as price increases and profit margins continue to improve. UBS analysts pointed out that since there are no major plans to expand production capacity, there is a high possibility that prices will continue to rise for Micron. Also, for Micron, which continues to emerge from the slump in the memory chip market last year, profit margins are extremely important.
$Nasdaq Composite Index(.IXIC.US$
$S&P 500 Index(.SPX.US$
Top news
Tesla announced production cuts in China due to a fall of more than 3% overtime and sluggish growth in EV sales
According to Bloomberg, $Tesla(TSLA.US$Automobile production in China is being cut due to sluggish growth in EV sales. The company's stock has fallen more than 3% in pre-market trading.
Apple discusses use of Baidu's generative AI in China
paddy $Apple(AAPL.US$It is a major search engine company in the same country for terminals provided in China, $BIDU-SW(09888.HK$Preliminary negotiations have begun with Baidu regarding the use of (Baidu) generative AI (artificial intelligence) technology. Apple is also proceeding with negotiations with US Google, US Open AI, etc. to utilize AI technology from other companies for the mobile functions of its own terminals.
Pushing for the losers Apple and Tesla?
A “loser” has emerged against the seven giant tech giants Magnificent Seven, which have led the appreciation of US stocks. There are 2 companies, Apple and Tesla. When searching for common points between the two companies, factors of decline emerge. In other words, it's 1) concerns about current poor sales and growth, and 2) a sense of being late with AI.
US Micron has room for improvement in profit margins
Major US semiconductor company $Micron Technology(MU.US$It will be safe as long as price increases and profit margins continue to improve. UBS analysts pointed out that since there are no major plans to expand production capacity, there is a high possibility that prices will continue to rise for Micron. Also, for Micron, which continues to emerge from the slump in the memory chip market last year, profit margins are extremely important.
Bitcoin falls to worst level this year on a weekly basis - ETF demand stalls
The price of the crypto asset (virtual currency) Bitcoin dropped by more than 10% from its all-time high. The background is that motivation to buy Bitcoin spot investment exchange-traded funds (ETFs) listed this year is weakening, and JPMorgan Chase strategists warned that price drops will continue. The 3-day fund outflow amount of 10 Bitcoin spot ETFs recorded the highest since listing on January 11. Meanwhile, Bitcoin fell 4%, making it one of the worst weeks of the year on a weekly basis.
RELATED ARTICLES
Bitcoin half-life countdown! Are related stocks soaring again?
The reverse yield on US bonds has been renewed for the longest time ever, and there is no sign of a recession
In the US bond market, it became known that the duration of the long and short yield reversal (reverse yield), which is regarded as a sign of an economic recession, became the longest ever at 21 days. However, the current US economy remains solid, and there is no sign of a recession. The reverse yield of 2-year bonds and 10-year bonds has continued since July 2022. According to Deutsche Bank, this reached the longest, exceeding the 624 business days recorded in 1978.
Fund inflow into gold funds at a high level for the first time in about 1 year = BoFA weekly survey
According to the Bank of America (BoFA) weekly survey, the inflow of funds into gold funds reached a high level for the first time in about a year during the week until the 20th. The price of gold hit a high, and investors transferred funds from cash and stocks. The inflow of funds into the gold fund was 1.1 billion dollars, the largest since May 2023.
US IPO resumes fumbling, the boom period is far from doubling
Initial public offerings (IPOs) are showing signs of recovery in the US stock market. The closing price of US Reddit, which operates an online bulletin board listed on the 21st, exceeded the selling price by 48%. The amount of funds raised by newly listed US companies for the 2024/1-3 fiscal year doubled from the same period last year. Compared to past boom periods, IPOs are still far from booming, and differences with stock prices are conspicuous.
Distribution sources: Bloomberg, Nihon Keizai Shimbun, Reuters, Dow Jones
ー MooMoo News Sherry
The price of the crypto asset (virtual currency) Bitcoin dropped by more than 10% from its all-time high. The background is that motivation to buy Bitcoin spot investment exchange-traded funds (ETFs) listed this year is weakening, and JPMorgan Chase strategists warned that price drops will continue. The 3-day fund outflow amount of 10 Bitcoin spot ETFs recorded the highest since listing on January 11. Meanwhile, Bitcoin fell 4%, making it one of the worst weeks of the year on a weekly basis.
RELATED ARTICLES
Bitcoin half-life countdown! Are related stocks soaring again?
The reverse yield on US bonds has been renewed for the longest time ever, and there is no sign of a recession
In the US bond market, it became known that the duration of the long and short yield reversal (reverse yield), which is regarded as a sign of an economic recession, became the longest ever at 21 days. However, the current US economy remains solid, and there is no sign of a recession. The reverse yield of 2-year bonds and 10-year bonds has continued since July 2022. According to Deutsche Bank, this reached the longest, exceeding the 624 business days recorded in 1978.
Fund inflow into gold funds at a high level for the first time in about 1 year = BoFA weekly survey
According to the Bank of America (BoFA) weekly survey, the inflow of funds into gold funds reached a high level for the first time in about a year during the week until the 20th. The price of gold hit a high, and investors transferred funds from cash and stocks. The inflow of funds into the gold fund was 1.1 billion dollars, the largest since May 2023.
US IPO resumes fumbling, the boom period is far from doubling
Initial public offerings (IPOs) are showing signs of recovery in the US stock market. The closing price of US Reddit, which operates an online bulletin board listed on the 21st, exceeded the selling price by 48%. The amount of funds raised by newly listed US companies for the 2024/1-3 fiscal year doubled from the same period last year. Compared to past boom periods, IPOs are still far from booming, and differences with stock prices are conspicuous.
Distribution sources: Bloomberg, Nihon Keizai Shimbun, Reuters, Dow Jones
ー MooMoo News Sherry
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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