Pre-market trading in US stocks | Nvidia leads the tech stocks! ZEEKR makes its debut on the market today

U.S. Stock News

1. Reuters reported on May 9th local time, citing two informed sources, that U.S. President Biden will announce new tariffs on strategic sectors in China, including electric vehicles, as early as next week. One of the sources mentioned that the specific areas will also include semiconductors and solar equipment.

In response, the Chinese Ministry of Foreign Affairs stated to inquire with the relevant authorities for specific details.

1. Geely Auto: ZEEKR's preliminary offering price for American depositary shares is set at $21 per share.

2. TSMC's April sales revenue was NT$236.02 billion, compared to NT$147.9 billion in the same period last year, representing a year-on-year growth of 59.6%. The year-to-date sales revenue is NT$828.67 billion, up 26.2% year-on-year. Additionally, TSMC's board of directors approved a cash dividend of NT$4.00 per share for the first quarter of 2024.

3. Recently, Taobao announced the official redesign of its web version, and at the same time, the Taobao Forum was relaunched. In the forum, a post by Jack Ma from 20 years ago was reposted, where he mentioned that the greatest beneficiaries and builders of a truly great and outstanding e-commerce platform should be the users.

4. Baidu's founder Robin Li and HR director Trudy Dai held a small-scale employee communication meeting to discuss the recent incident involving Qū Jìng. It was reported that Robin Li commended outstanding Baidu employees on the spot, stating, "You represent Baidu, you represent the most authentic Baidu, you are the most authentic representatives of Baidu." Robin Li expressed his emotions quite passionately.

5. World of Warcraft announced on Weibo that the Bloodhoof Recasting Message Event will end on June 6th. At the end of the event, more news about the return of the mainland China server of "World of Warcraft" will be shared. They are working at full speed and appreciate everyone's patience and support.

Pre-market Movers

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

Bitcoin is currently trading at $63,076, up 3% in the past 24 hours; Ethereum is trading at $3,030, up nearly 2% in the past 24 hours.

Tech stocks, cryptocurrency-related stocks are generally up, while Chinese concept stocks show mixed movements.

Microstrategy and Coinbase are up over 2%, Marathon Digital is up nearly 2%.

Nvidia is up over 1%, Tesla and AMD are up nearly 1%, Amazon, Microsoft, Apple, and Meta are up.

XPeng, Pinduoduo, Alibaba are up over 1%, JD.com is up nearly 1%, NetEase is up 0.5%, Nio, Li Auto, Bilibili, Baidu are slightly down.

In individual stocks, TSMC is up over 3%, with April sales increasing by nearly 60% year-on-year.

Novavax soared 48%. The company reached a multi-billion dollar cooperation agreement with Sanofi on a new coronavirus vaccine NVTS fell more than 10%, with a loss of $0.06 per share in the first quarter after adjustments.

Visionox dropped over 27%, with a year-on-year Q1 loss expansion below expectations.

SoundHound surged 17%, exceeding revenue expectations in the first quarter.

Sweetgreen rose 16.3%, with Q1 revenue surpassing expectations and annual guidance raised.

Cleanspark briefly rose over 8%, with Q2 earnings far exceeding expectations.

Building materials giant CRH rose nearly 5%, reversing Q1 performance from loss to profit and reaffirming annual guidance.

Strategy Review

1. Standard Chartered reiterates Bitcoin to reach $150,000 by the end of the year!

Standard Chartered Bank predicts that Bitcoin prices will benefit from the dominance of the US dollar and a potential Trump victory. "In the case of the dominance of the US dollar, we believe that Bitcoin will provide a good hedge against de-dollarization and declining confidence in the US Treasury market."

2. Apple issues its first-ever apology for an advertisement! What happened?

Some believe that with the rapid development of AI technology and the possibility of regulatory agencies splitting Apple's App Store, the new iPad Pro advertisement has had a negative impact on Apple's image, affecting the positive image of the new iPad version and M4 chip launched by Apple this week.

3. The most anticipated market data! Standard Chartered: US April CPI next week may bring a "surprise" cooling

As of March, US CPI has exceeded expectations for five consecutive months, but April may see a slower growth rate than expected. Last week, Powell optimistically predicted that a potential decrease in housing costs in the future could lower core inflation. Standard Chartered analysts stated that this optimism may be reasonable, as regression analysis suggests that the housing inflation indicator OER in the CPI will sharply decline in the coming months