1. The next Fed chairman's favorite candidate: If the data in the next 3-5 months is weak, the interest rate may be cut by the end of the year
2. S&P and Nasdaq both hit new highs! Morgan Stanley analysts: US stocks still have room to rise
3. Microsoft AI is making great efforts! Stock price hits a new high, and the annual Build developer conference is very popular
4. Xpeng Motors' US stocks surged 26% at one point, its net loss in the first quarter narrowed significantly year-on-year, and its gross profit margin increased by 6.7% month-on-month
5. Retail investors' holdings fell back, with Faraday Future falling more than 24% and GameStop falling 4.6%

The leading candidate for the next Fed chairman: If the data in the next 3-5 months is weak, the interest rate may be cut by the end of the year

Waller, a current Fed governor, said that although recent data showed that progress may have been made in inflation, he needed to see "a few more months" of good inflation data before starting to cut interest rates. If the data in the next three to five months continues to be weak, the Fed may consider cutting interest rates at the end of 2024. Waller said that recent price data showed only modest progress in achieving the Fed's 2% inflation target, and he gave the latest U.S. CPI report a grade of C+.

Morgan Stanley analyst: Investors are still holding on to cash, and US stocks still have room to rise

Investors are holding on to cash despite record highs in U.S. stocks, suggesting that the market has plenty of room to run higher. The market is still in the “fear” phase of this cycle, a sign of an early bull market. The abundance of cash yet to be deployed is a catalyst for further gains, as the “fear of missing out” could be strong if stocks continue to rise.

Morgan Stanley is bullish on gold prices

Morgan Stanley said that the risk of gold continued to be on the upside; the probability of gold price rising to $2,760/ounce was higher. COMEX gold futures closed down 0.55% at $2,425.2/ounce; COMEX silver futures closed down 0.68% at $32.205/ounce.

Related assets: $UGL , $GLD , $IAU , $SLV

Ethereum futures rose by about 7%. Investors paid attention to the approval system of spot Ethereum ETF. It rose by more than 37% in the past three days.

At the end of trading in New York on Tuesday (May 21), the main contract of CME Bitcoin futures BTC was quoted at $69,965.00, down 0.67% from the end of trading in New York on Monday, and trading in the range of $72,360.00-69,420.00. The US spot Bitcoin ETF closed down at least 1%. The main contract of CME Ethereum futures DCR was quoted at $3,764.50, up 6.93% from Monday, and trading in the range of $3,515.00-3,865.00, with a cumulative increase of 37.37% in the past three trading days.

Related targets: Coinbase $COIN , Canaan Technology, Marathon Digital, CleanSpark $CLSK , $RIOT , $BTCM , $BETS

On Tuesday, the three major U.S. stock indexes closed higher, with the S&P and Nasdaq closing at record highs . In terms of star stocks, Tesla closed up 6.7%, Google hit a record high for five consecutive days, and Microsoft continued to hold a developer conference, with its stock price also hitting a record high . The chip index fell back, and Nvidia fell nearly 2% at the beginning of the session before turning up and closing at a record high . It will release a heavyweight earnings report on Wednesday. IBM rose 2.08%, and JPMorgan Chase rose 2.07%, leading the Dow. Retail investors' group stocks fell back , Faraday Future fell more than 24%, GameStop (GME) rebounded during the session and closed down 4.6%, AMC Cinemas fell 3.7%; BlackBerry (BB) fell 2%, and Koss fell nearly 0.8%.

Popular Chinese stocks listed in the US generally fell , with the Nasdaq China Golden Dragon Index down 2.32%, Canaan Inc. down 11.89%, and NetEase down 5.57%; Chinese new energy vehicle stocks rose and fell, with NIO up 0.67%, Xpeng Motors soaring 26% at one point and closing up 5.92%, and Li Auto down 3.45%.

Microsoft AI is making great efforts! Stock price hits a new high, and the annual Build developer conference is very popular

Microsoft closed up 0.87% at $429.04 on Tuesday, hitting a record high of $432.97 during the session. It is reported that at this Build developer conference, Copilot's various function "gift packages" were unveiled, Microsoft allowed personal AI assistants to join the team, GPT-4o now helps Azure, and browser video real-time translation.

Xpeng Motors' US stocks surged 26% at one point, its net loss in the first quarter narrowed significantly year-on-year, and its gross profit margin increased by 6.7% month-on-month

Xpeng expects that its revenue in the second quarter will increase by about 48.1%-63.9% year-on-year; the number of vehicle deliveries will be between 29,000 and 32,000, while the market estimates 38,147. Xpeng's US stock price surged 26% in the early trading session and closed up nearly 6%. The company said that it will deliver a new B-class pure electric sedan in the fourth quarter, and the company is very confident that it will achieve a significant year-on-year increase in monthly deliveries in the fourth quarter of this year. Xpeng's strategy will not only focus on sales growth as before, but will also pursue high quality and high efficiency, comprehensively enhance the company's competitiveness, make the company's long board longer and have no short boards, and build Xpeng Motors into a "polygonal warrior" so that it can achieve greater scale and profits in the long run.

IBM announces open source release of a range of artificial intelligence models

IBM announced that it will release a series of artificial intelligence models in the form of open source software. IBM said that one year after the launch of the WatsonX platform, the platform will undergo a number of new updates and will soon launch data and automation capabilities, and has made public the latest open source model Granite series, which aims to make artificial intelligence more open, cost-effective and flexible for enterprises. In addition, IBM also revealed its cooperation with the Saudi Data and Artificial Intelligence Authority (SDAIA), and IBM will use its WatsonX platform to train SDAIA's Arabic model "ALLaM".

Eli Lilly's innovative telportipeptide injection approved in China

Eli Lilly rose more than 2.55%, reaching an intraday high of $816.61, a new high since its listing. On the news front, on May 21, the official website of the National Medical Products Administration showed that Eli Lilly's Mufengda (Telpotide Injection) was approved by the National Medical Products Administration (NMPA) to improve blood sugar control in adult patients with type 2 diabetes. Telpotide is a once-weekly injection of GIPR and GLP-1R agonists.

AstraZeneca aims to double revenue by 2030 and expects to launch more than 20 new drugs

AstraZeneca announced a grand blueprint yesterday, planning to push its annual sales to $80 billion by launching 20 new drugs in the next six years, almost doubling from $45.8 billion in 2023. This growth target means that the company's annual compound growth rate will reach 7%, exceeding analysts' previous expectations.

Goldman Sachs lowers Zoom's price target to $70

Goldman Sachs: Lowered the target price for Zoom Video Communications from $73 to $70 and maintained a "neutral" rating.

Hesai Technology fell more than 13%; Q1 net income fell 16.5% year-on-year; Q2 guidance fell short of expectations

Hesai Technology ( $HSAI ), the first Chinese LiDAR stock, fell more than 13% to $4.53. Hesai's net income in the first quarter was 359 million yuan, down 16.5% year-on-year, while analysts expected 337.2 million yuan. The company expects net income in the second quarter to be 440 million to 460 million yuan, while analysts expect it to reach 648.2 million yuan.

Trump Media & Technology Group fell more than 8% and lost more than $300 million in the first quarter

Trump Media & Technology Group ( $DJT ) fell 8.66% to $44.19. The company had a net loss of more than $327.6 million in the first quarter, including $311 million in non-cash expenses related to the merger and listing, compared with a loss of $210,300 in the same period last year. Revenue was $770,500, compared with $1.1 million in the same period last year. In addition, the company said it has cooperated with the U.S. Financial Industry Regulatory Authority (FINRA) in its investigation into its bad check mergers and acquisitions.

The "price war" for large models breaks out! Alibaba Tongyi Qianwen GPT-4 large models drop by 97%

Alibaba announced price cuts for 9 Tongyi models, among which Qwen-Long has a very high cost-effectiveness, with a price of only 1/400 of GPT-4, and supports 10 million tokens input. 1 yuan can buy 2 million tokens, breaking the bottom price of the entire network.

It is rumored that Tencent may invest in the dark side of the moon and continue to compete with Alibaba for the title of "the first funder of AI"

According to All Weather Technology, the large model startup company Dark Side of the Moon is currently in the process of a new round of financing. Investors include Tencent and Gaorong Venture Capital. If the deal is successful, most of the domestic LLM startup companies with a valuation of over 1 billion will have Alibaba and Tencent involved.

OneConnect Financial Technology (06638.HK) continued to steadily advance towards profitability in the first quarter, with revenue from its cloud service platform growing by 8.9%

YTO Express (09956.HK) Q1 net profit increased by 303.1% and will continue to implement the strategy of balancing quality and profitability

BOSS Direct Hiring-W (02076.HK) reported adjusted net profit of 530 million yuan in the first quarter, up 116.6% year-on-year

Sun Art Retail (06808.HK) turned from profit to loss of 1.668 billion yuan

VTech Holdings (00303.HK)'s annual profit attributable to shareholders increased by 11.7% to US$167 million

Tongcheng Travel (00780.HK) released its first quarter report for 2024: revenue of 3.8663 billion yuan, up 49.5% year-on-year; adjusted net profit of 558.5 million yuan, up 10.9% year-on-year; average monthly paying users increased by 2.9% year-on-year to 42.6 million. International business grew impressively, with international air ticket sales increasing by more than 260% year-on-year

New Fire Technology Holdings (01611.HK) Profit Warning: Expected to Turn Loss into Profit of More Than HK$80 Million in the Mid-term

Hong Kong Stocks Financial Report

Kuaishou-W

Kingsoft

GDS

Topsports

US stock earnings

Pre-market | Pinduoduo , Target, Vipshop

[Live] Pinduoduo (PDD.US) 2024 First Quarter Earnings Conference Call

After hours | Nvidia , Synopsys, Snowflake

[Live] Nvidia (NVDA.US) 2025 Fiscal First Quarter Earnings Conference Call

US IPOs

Bowhead Specialty Holdings $BOW

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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