Pre-market trading in US stocks | Tesla up nearly 8%, Baidu up nearly 6%! Cryptocurrency concept stocks plummet

U.S. Stock News

1. According to Bloomberg, Tesla is reportedly cooperating with Baidu in China on map and navigation functions.

2. Tesla CEO Elon Musk met with Ningde Times Chairman Zeng Yuqun in China.

Industry insiders believe that due to the recent sudden resignation of Drew Baglino, Senior Vice President of Powertrain and Energy Business at Tesla, the self-production process of the highly anticipated 4680 battery may face an unprecedented setback. Musk meeting Zeng Yuqun again may seek more help in the 4680 battery aspect and cheaper supply of power batteries.

1. On April 29th, there were market rumors that Xiaohongshu (RED) is undergoing a new round of financing with a valuation of $20 billion, which will be a pre-IPO round of financing for Xiaohongshu, providing pricing reference value for its future IPO. In response, Xiaohongshu stated that the news is false.

2. Renowned tech journalist Mark Gurman mentioned that Apple's next-generation VisionPro release may be delayed until late 2026, but before launching the second-generation product, Apple must find a way to reduce costs.

3. Nio announced the flexible upgrade pricing for the 150kWh ultra-long-range battery pack rental service: upgrading from the 70/75kWh standard range battery pack to the 150kWh ultra-long-range battery pack costs 150 yuan/day; upgrading from the 100kWh long-range battery pack to the 150kWh ultra-long-range battery pack costs 100 yuan/day.

4. Blackstone Group has agreed to acquire music copyright giant Hipgnosis for $1.30 per share in cash.

Pre-market Movers

In pre-market trading, U.S. stock index futures and the fear index are all up.

Bitcoin is currently trading at $62,372, down over 2% in the past 24 hours; Ethereum is trading at $3,176, down over 4% in the past 24 hours.

Cryptocurrency concept stocks are sharply down in pre-market trading, with Chinese concept stocks and technology stocks showing mixed movements.

Tesla is up nearly 8%, Apple is up nearly 2%, Amazon is up nearly 1%, AMD and Microsoft are up, while Nvidia, Meta, and Google are down.

Baidu is up nearly 6%, Nio is up 4%, Li Auto is up over 3%, XPeng and NetEase are up over 1%, Alibaba and Bilibili are slightly up, JD.com and Pinduoduo are down around 1%.

Microstrategy and Marathon Digital are down over 3%, Coinbase is down nearly 3%.

In individual stocks, Philips surged 47% as it announced a settlement related to cancer risks associated with its ventilators, agreeing to pay $1.1 billion without admitting any fault or liability.

Fulton Financial briefly surged over 12% as its bank is set to take over the collapsed Republic First Bancorp Paramount Universal rose by 5%, making progress in negotiations to merge with Skydance.

Deutsche Bank fell by over 6%, possibly due to provisions of up to 1.3 billion euros related to litigation involving the acquisition of Deutsche Postbank.

Strategy Review

1. JP Morgan: AI Short Positions Step Aside! Microsoft Azure Turning Point Has Arrived

JP Morgan believes that Microsoft is gradually enhancing its cloud service supply capabilities to meet strong market demand, indicating potential growth opportunities in the future.

2. Why Are Wall Street Bulls Firmly Believing "US Stock Bull Market Is in Full Swing"?

Wall Street believes that even if there is no rate cut this year, US stocks are expected to continue to rise! According to these optimistic bulls, the main reasons include the economic growth trend supporting the US stock market, coupled with the overall strong earnings data of the seven major US tech giants expected to boost stock price trends.

3. UBS: Beware of the Risk of European and American Cyclical Stocks Pullback

Macro-level cautious sentiment and seasonal headwinds have left cyclical stocks, which already have high valuations, lacking further upward momentum