Pre-market trading in US stocks: Li Auto, XPeng-W leading the decline among Chinese concept stocks! Cryptocurrency-related stocks surge.

LB Select
2024.03.04 10:35
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Before the market opens, LI Auto plunged over 6%, XPeng-W dropped over 4%, NIO-SW fell nearly 2%, Alibaba dropped over 1%, with only Bilibili rising nearly 2%. Fisker surged over 23% at one point, with news stating that it is in deep negotiations with Nissan on cooperation matters. AMD surged over 17% at one point, while Dexun Outdoor rose over 7%.

U.S. Stock Market News

  1. The 14th National People's Congress of China held a press conference, where the spokesperson Lou Qinjian answered questions from domestic and foreign journalists regarding the agenda and work of the congress. Lou Qinjian mentioned that after the conclusion of the 14th National People's Congress, there will be no press conference with the Premier. Such press conferences will also not be held in the following years.

  2. Question: U.S. Secretary of Commerce Raimondo recently stated that today's cars are like wheeled Apples, capable of collecting vast amounts of information. If there were 3 million Chinese cars on American roads, Beijing could shut them all down simultaneously. What is the spokesperson's comment on this?

    Chinese Foreign Ministry Spokesperson Mao Ning: Such remarks are not only false narratives but also a typical example of politicizing and securitizing economic and trade issues. Following this logic, should China be more concerned about Washington being able to send information back to the U.S. from millions of Apple devices used by Chinese users, or even simultaneously blacking out these devices?

  3. Bitcoin continues to rise, briefly surpassing $65,000, hitting a new high since November 2021, with a difference of around $4,000 from the all-time high.

  4. According to the supply chain sources, Apple is developing the Vision standard version (internally named Vision, the official name is yet to be confirmed), expected to be released in the fall of 2025. The Vision standard version aims to control the weight within 400g while maintaining the display quality consistent with the pro version. Apple has not decided whether to cancel eyesight and is still selecting component materials.

  5. Goldman Sachs has removed Apple Inc. from its best buy list due to the company's poor stock performance, with concerns in the market about weak demand for its main products. Since June last year, the company's stock price has remained almost unchanged, while the S&P 500 index has risen by nearly 22%.

  6. NVIDIA's H200 is set to be launched in the second quarter, with B100 adopting a Chiplet design architecture, already ordered and in production. H200 and B100 will be manufactured using TSMC's 4nm and 3nm processes, respectively. Analysts point out that NVIDIA's orders are strong, and TSMC's 3nm and 4nm production capacity is nearly full.

  7. Thailand is still in negotiations with Tesla regarding investments.

Pre-market Movers

In the U.S. stock market pre-market trading, the futures of the three major stock indexes are down, while the fear index is rising.

Bitcoin is currently trading at $64,941, up over 5% in the last 24 hours; Ethereum is trading at $3,505, up over 3% in the last 24 hours.

Tech stocks are showing mixed movements in pre-market trading, with NVIDIA up over 1%, Tesla down over 1%, AMD, Apple, and Microsoft down.

As for Chinese concept stocks, Li Auto is down over 6%, XPeng down over 4%, Nio down nearly 2%, Alibaba down over 1%, JD.com, Baidu, Pinduoduo are down, with Bilibili being the only one up by nearly 2%. Cryptocurrency-related stocks are rising in pre-market trading, with MicroStrategy and Marathon Digital up over 7%, Coinbase up over 6%, and Proshares Bitcoin Strategy ETF up 3.2%.

In terms of individual stocks, TSMC rose over 4% in pre-market trading. Today, the Taiwan stock market rose by 5.22% at one point, reaching a historical high.

Fisker surged over 23% at one point, with news of in-depth negotiations with Nissan on cooperation matters.

AMD's stock in the US pre-market trading surged over 17%, while Dexcom rose over 7%. Previously, S&P Dow Jones Indices announced the inclusion of AMD and Dexcom in the S&P 500 Index, replacing Whirlpool and Zions Bancorp.

Strategy Review

1. The bull market in cryptocurrencies is back, these three US stocks are worth watching!

With the cryptocurrency market rebounding, investors are once again focusing on related stocks like Coinbase, Marathon Digital, and MicroStrategy. Many analysts believe that if the cryptocurrency market continues to expand, these three stocks will provide a simple way for investors to profit from it.

2. How should investors deal with a potential major drop in the US stock market?

The return of the Fear of Missing Out (FOMO) has intensified investors' concerns about a possible sharp decline in the US stock market. Some market observers are worried that the market may experience a melt-up. What should be done?

3. Post-earnings boost pushing the stock price close to the $500 mark, will Meta's upward trend peak?

In the fourth quarter, Morgan Stanley reduced its holdings of META stock, with the ownership ratio decreasing from 1.13% to 1.11%. Meta's platform also faces a large number of complaints in Europe, with 8 consumer organizations accusing Meta of unfairly offering an ad-free version to users for a fee. After the enthusiasm brought by the earnings report cools down, these negative events may cause a certain degree of pullback in the company's stock price.

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