1. US core CPI cools down, US stocks, US bonds, gold, and Bitcoin all rise
2. Buffett sold 110 million shares of Apple in Q1 and invested $6.7 billion in Chubb Insurance
3. MEME stocks ended their two-day frenzy, AMC Cinemas fell 20% and took the opportunity to issue new shares
4. MicroStrategy is included in the MSCI Global Standard Index
5. Faraday Future continues to rise by more than 147%; Jia Yueting responds to the surge in stock prices

The U.S. core CPI monthly rate cooled for the first time in six months, and the three major U.S. stock indexes all hit new highs

U.S. stocks closed higher on Wednesday, with all three major indexes hitting record intraday and closing highs. The Dow Jones closed above 39,900 for the first time, approaching the 40,000 mark. The S&P 500 broke through the 5,300 mark for the first time. The U.S. CPI report for April showed a cooling of inflation, leading the market to expect the Federal Reserve to accelerate the pace of interest rate cuts in 2024. U.S. retail sales slowed significantly in April.

The Dow Jones Industrial Average rose 0.88%, the S&P 500 rose 1.17%, and the Nasdaq rose 1.40%. Bitcoin rose 4% during the day, reaching $64,000; the international gold price rose more than 1% to a record high; U.S. Treasury bonds rose, and the 10-year yield fell to the lowest level in more than a month.

Buffett sold 110 million shares of Apple in the first quarter and invested $6.7 billion in Chubb Insurance

The 13F U.S. stock holdings file submitted by Buffett's Berkshire Hathaway shows that in the first quarter, Berkshire increased its holdings of Occidental Petroleum (OXY.N) by 4.3 million shares, liquidated its Hewlett-Packard (HPQ.N), and reduced its holdings of Apple (AAPL.O) by 116 million shares, reducing its holdings to 40%; it bought 25.92 million shares to establish a position in Chubb Insurance, with a holding value of approximately US$6.7 billion.

"Big Short" Michael Burry holds a large position in gold in the first quarter

Due to accelerating inflation and increasing geopolitical risks, gold prices have reached new highs, with US gold futures prices exceeding $2,400 per ounce last month. Against this backdrop, "Big Short" Michael Burry increased his bets on physical gold in the first quarter, purchasing more than 440,000 units of the Sprott Physical Gold Trust (PHYS), with a total value of more than $10 million, making it the top holding of Scion Asset Management, which he manages.

Wall Street Bank: Raise the S&P 500 year-end target price from 5,100 to 5,600

Brian Belski, chief investment strategist at BMO Capital Markets, raised his year-end price target for the S&P 500 to 5,600 from 5,100 in a research note Wednesday, noting that market momentum "is likely to continue." Belski's 5,600 target would represent a gain of about 7% from Monday's close.

The United States announced that it would impose tariffs on Chinese products such as electric vehicles, but brokerage firms said the overall impact was small

The United States announced that it would further increase tariffs on electric vehicles imported from China on the basis of the existing 301 tariffs on China. Zhongtai Securities commented that the share of Chinese new energy vehicles in the United States remains low and the market impact is very limited. In 2023, my country's passenger car exports to the United States will be 67,000 units, accounting for only 1.5% of total exports, and new energy passenger cars will be exported to the United States. 13,000 units, accounting for only 0.3%, which can be ignored.

The three major U.S. stock indexes collectively hit record highs on Wednesday, with the Dow Jones Industrial Average up 0.88%, the S&P 500 up 1.17%, and the Nasdaq up 1.40%; AI chip stocks soared, with Nvidia closing up 3.58% and AMD up more than 4%; in terms of hot stocks, GameStop closed down 18.87% and MicroStrategy up 15%>>

MEME stocks ended their two-day frenzy and fell across the board. AMC took the opportunity to issue new shares

U.S. retail stocks plunged across the board during the day, with trading suspended several times. Although the decline narrowed significantly at the close, GameStop (GME) still fell 18.9%, AMC Theaters closed down 20%, Koss closed down 19.2%, and BlackBerry closed down 6.9%. According to news on the same day on Wednesday, AMC disclosed in a document that it will issue 23.3 million shares in exchange for notes due in 2026 with a principal amount of US$164 million.

Another investment bank is bullish on Nvidia before earnings! KeyBanc: Earnings and guidance will exceed expectations

KeyBanc Capital Markets has set a target price of $1,200 for Nvidia. Nvidia will announce its quarterly results on May 22, and the investment bank's analysts said that the upward trend in current results and performance guidance may be due to several factors. These include better supply of H100 GPUs, strong demand for its H20 GPUs in China, and initial supply of H200 GPUs.

Faraday Future continues to rise by more than 147%; Jia Yueting responds to the surge in stock prices

Faraday Future continued to rise by more than 147% on Wednesday, and its total market value returned to above 30 million US dollars. Faraday Future soared by more than 367% on Tuesday. When talking about this, Jia Yueting said that more and more people are aware of FF's uniqueness as a bridge between the Chinese and American automobile industries, as well as its many unique values. "My personal IP and I are also working hard to build a bridge of friendship and economic development between China and the United States, and are communicating with partners on the China-US automobile bridge strategy."

MicroStrategy surged 15% overnight and was included in the MSCI Global Standard Index

On Tuesday, Morgan Stanley Capital International (MSCI) announced the results of its quarterly index adjustment. MicroStrategy will be included in the MSCI World Index. MicroStrategy is known for hoarding about $13 billion in Bitcoin. Previously, the company's stock price rose even faster than Bitcoin.

Dell Technologies surged more than 11% overnight, Morgan Stanley is optimistic about Dell's AI servers

Morgan Stanley predicts the company will gain sales from continued growth in demand for artificial intelligence servers, most of which are built around Nvidia chips, and Dell and Nvidia's CEOs have a close relationship. Dell is expected to report its April quarter earnings on May 30.

Cisco's earnings report exceeded expectations, and its stock price rose nearly 5% after the market closed.

Cisco announced its third quarter results for fiscal year 2024. The financial report shows that Cisco's Q3 revenue was $12.7 billion, down 12.8% year-on-year, exceeding market expectations; net profit was $1.9 billion, down 41% year-on-year; diluted earnings per share was $0.46, compared with $0.78 per share in the same period last year. After the financial report was released, Cisco's stock price rose nearly 5% after the market.

Netflix close to NFL broadcasting deal

Netflix is reportedly finalizing a deal for exclusive rights to two NFL games over Christmas, a major step forward for the streaming service in its push into live programming.

Baidu: Considering possible cooperation opportunities with Tesla on Robotaxi

The general manager of Baidu's autonomous driving technology department said that for Tesla's upcoming Robotaxi (shared taxi), Baidu will consider possible cooperation opportunities based on Tesla's specific application model and the pace of entering the Chinese market. Musk recently posted on the social media platform X that Tesla plans to launch a driverless taxi (robotaxi) on August 8, 2024.

Ping An of China (02318): The original insurance contract premium income of its four subsidiaries in the first four months totaled approximately RMB 330.377 billion, a year-on-year increase of 2.4%.

China Shenhua (01088)'s coal sales in April were 37 million tons, up 1.1% year-on-year

CSPC Pharmaceutical Group (01093): Peramivir Injection Obtains Drug Registration Approval

China Railway Construction (01186): Recently won bids for several major projects involving a total investment of approximately RMB 61.154 billion

Guolian Securities (01456): Plans to issue A-shares to acquire 100% equity of Minsheng Securities and raise supporting funds of no more than RMB 2 billion

Shanghai Electric (02727): and its wholly-owned subsidiary intend to transfer 95.5585% equity of Shanghai Jiyou to Shanghai Mechanical and Electrical for approximately RMB 5.082 billion

Tuya Smart-W (02391): Plans to spend up to US$400 million to purchase US Treasury bonds

Hong Kong Stocks Financial Report

JD Group-SW

[Live] JD.com 2024 Q1 Results Conference Call

Baidu Group-SW

[Live] Baidu 2024 First Quarter Results Conference Call

US stock earnings

Pre-market | Walmart, iQiyi, Xunlei

After hours | Applied Materials

The above is today’s Washington Morning News. You are welcome to leave a message for discussion. I wish you a smooth investment!

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