Outlook for the U.S. market: SMCI spikes, announces no evidence of misconduct. Dow opens 15 points higher.
Good evening, Moomoo users!![]()
Tonight's analysis of NY stocks.
Market Overview
U.S. market opens with the Dow Jones Industrial Average, comprising high-quality stocks, starting 15.21 points higher at 44,925.86, while the Nasdaq Composite Index, with a high proportion of tech stocks, begins 37.25 points higher at 19,255.42. The S&P 500, consisting of 500 large cap stocks in the U.S., opens 7.73 points higher at 6,040.11.
U.S. market opens with the Dow Jones Industrial Average, comprising high-quality stocks, starting 15.21 points higher at 44,925.86, while the Nasdaq Composite Index, with a high proportion of tech stocks, begins 37.25 points higher at 19,255.42. The S&P 500, consisting of 500 large cap stocks in the U.S., opens 7.73 points higher at 6,040.11.
Top News
Super Micro rises significantly after hours, announces no evidence of wrongdoing.
Super Micro significantly higher after hours. Regarding the suspicions of fraudulent accounting, a special committee announced that no evidence of misconduct by the management or board of directors was found. The company also announced the replacement of CFO Wiegan.
Super Micro rises significantly after hours, announces no evidence of wrongdoing.
Super Micro significantly higher after hours. Regarding the suspicions of fraudulent accounting, a special committee announced that no evidence of misconduct by the management or board of directors was found. The company also announced the replacement of CFO Wiegan.
Dollar rising
Ahead of the release of U.S. economic indicators that affect the Federal Reserve Board's (FRB) policy, U.S. bonds fell. President-elect Donald Trump received a warning that the dollar received further support as he demanded an assurance not to create a new currency to replace the U.S. dollar for the so-called BRICS countries.
Ahead of the release of U.S. economic indicators that affect the Federal Reserve Board's (FRB) policy, U.S. bonds fell. President-elect Donald Trump received a warning that the dollar received further support as he demanded an assurance not to create a new currency to replace the U.S. dollar for the so-called BRICS countries.
Since the election on November 5th, the dollar has risen by about 2%. However, out of the past 10 years, the dollar has fallen in December 8 times. It is common for traders to sell the dollar and buy risky assets such as stocks during the year-end portfolio rebalancing flow and the Christmas rally.
Furthermore, there is a risk of traders becoming anxious this month due to the flow of year-end portfolio rebalancing and the Christmas rally, as well as the market turmoil caused by President Trump's social media posts, the policy meetings of 9 major central banks, and important economic data. This increases the likelihood of sudden price fluctuations.
The United States is strengthening export regulations on AI memory and chip manufacturing equipment to China.
The Biden administration has announced further regulations to delay domestic development in China of advanced semiconductors and artificial intelligence systems that could be useful for military purposes. This included additional regulations on the sale of High Bandwidth Memory (HBM) and chip manufacturing equipment to China, and adding 140 Chinese companies to the blacklist that were not initially mentioned in the first statement.
The Biden administration has announced further regulations to delay domestic development in China of advanced semiconductors and artificial intelligence systems that could be useful for military purposes. This included additional regulations on the sale of High Bandwidth Memory (HBM) and chip manufacturing equipment to China, and adding 140 Chinese companies to the blacklist that were not initially mentioned in the first statement.
Citi analyst Kevin Chen stated last week, "The scope of the regulations announced this time will at least temporarily alleviate concerns about the spread of export restrictions that had been circulating among investors. However, there is a possibility of even stricter regulations being imposed under the Trump administration next year."
The new regulations will restrict the sale of High Bandwidth Memory chips (essential components for AI processing data) and will be in addition to existing regulations affecting advanced logic chips that function as the brains of devices. Memory regulations will apply to HBM2 and more advanced chips, and senior government officials stated that the rules will manage both U.S. and foreign companies using the Foreign Direct Product Rule (FDPR). The leading companies in HBM chips are SK Hynix in South Korea and Samsung Electronics based in Idaho. $Micron Technology (MU.US)$following suit.
Tesla to release a new version of its self-driving software.
$Tesla (TSLA.US)$Ashok Ellswamy, Vice President in charge of AI software at stem inc, announced on Saturday night that Tesla's highest level of driving assistance software called Full Self-Driving (FSD) version 13 has been made available to customers.
$Tesla (TSLA.US)$Ashok Ellswamy, Vice President in charge of AI software at stem inc, announced on Saturday night that Tesla's highest level of driving assistance software called Full Self-Driving (FSD) version 13 has been made available to customers.
Tesla believes that this is a product that will transform millions of Tesla autos into fully self-driving cars. Dan Ives, an analyst at Wedbush, stated that the company's artificial intelligence/self-driving technology has a business value of $1 trillion. He rated the company's stock as a "buy" with a target price of $400.
Crude oil is on the rise, with attention to the Chinese economy and the OPEC+ supply meeting.
Crude oil rose along with Asian stocks, reflecting signs of a gradual recovery in the Chinese economy.
Crude oil rose along with Asian stocks, reflecting signs of a gradual recovery in the Chinese economy.
Brent futures traded above $72 per barrel, reversing a 3% decline from the previous week, as factory activity in China, the world's largest crude oil importer, showed signs of a temporary recovery.
On the other hand, OPEC+ has postponed its supply meeting to December 5. The focus of this meeting, where the prevailing view is that OPEC+ will postpone its third minor output increase, will be to seek clues to future policies.
UMAC surged in after-hours trading, appointing President Trump's eldest son as an advisor.
US drone (unmanned aerial vehicle) component manufacturer $Unusual Machines (UMAC.US)$Soared in after-hours trading on 2nd. The company announced on the 27th the appointment of Donald Trump Jr., the son of the incoming President Donald Trump, as an advisor.
US drone (unmanned aerial vehicle) component manufacturer $Unusual Machines (UMAC.US)$Soared in after-hours trading on 2nd. The company announced on the 27th the appointment of Donald Trump Jr., the son of the incoming President Donald Trump, as an advisor.
OpenAI is considering introducing advertisements into its products, exploring new sources of revenue according to reports.
OpenAI's CFO Sarah Friar mentioned in an interview with the Financial Times (FT) that the company is considering introducing an advertising model. Friar stated that while the company is reorganizing into a for-profit enterprise, they are also exploring plans to introduce advertisements into AI products to find new sources of income.
OpenAI's CFO Sarah Friar mentioned in an interview with the Financial Times (FT) that the company is considering introducing an advertising model. Friar stated that while the company is reorganizing into a for-profit enterprise, they are also exploring plans to introduce advertisements into AI products to find new sources of income.
Recently, OpenAI has been moving towards commercialization and generating revenue from its products. Perplexity, its rival, has already experimentally introduced advertisements in its AI-powered search engine.
- moomoo News Vicky
Source: moomoo, Bloomberg
This article utilizes auto-translation in some parts.
Source: moomoo, Bloomberg
This article utilizes auto-translation in some parts.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
