Breakfast | S&P 500 hits new high again, Tesla rises for 7 consecutive days, "Cathy Wood" reduces Tesla holdings, Bezos reduces Amazon holdings

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Overnight Morning Market

The U.S. stock market closed on Wednesday, with the S&P 500 and Nasdaq hitting new all-time highs for the 33rd and 22nd time this year, respectively.

Tesla's second-generation humanoid robot Optimus made its first appearance and rose by 6.5%, marking a seven-day consecutive increase, the longest in a year, with a cumulative increase of nearly 34.95% since the closing on June 24.

NVIDIA rose by 4.57%, while the NVIDIA double long ETF rose by 8.99%. TSMC ADR rose by 3.86% to a historic high, and ARM rose by 2.92%.

Chinese concept stocks outperformed the U.S. market. ZEEKR rose by 9.28%, XPeng rose by 9.04%, Nio rose by 7.51%, and Li Auto rose by 6.53%. DouYu surged over 42%, leading the gains, with Huya and Zhihu up over 10%, Baidu up by 3.67%, JD.com up by 2.99%, Pinduoduo up by 2.58%, Alibaba up by 2.57%, and NetEase up by 2.09%.

Retail investors remain enthusiastic about group stocks. Gaussin Electronics soared by 143.81%, Game Station rose by 1.63%, BlackBerry rose by 1.63%, while AMC Theatres fell by 3.45%.

Blue Chips and Hot Stocks

Tesla's second-generation humanoid robot Optimus will make its debut at the 2024 World Artificial Intelligence Conference in Shanghai.

Elon Musk responded to the criticism of "shorting Tesla" on Twitter: Once Tesla completely solves the autonomous driving problem and mass-produces the Optimus robot, anyone still holding short positions will be eliminated, including Bill Gates.

Bank of America: Raised Tesla's target price from $220 to $260.

Cathie Wood, the famous fund manager known as "Wood Sister," made significant adjustments to her investment portfolio at Ark Invest, selling 56,425 shares of Tesla from ARKK and 6,442 shares from ARKW, worth about $14.54 million. This is the first time ARKK has sold Tesla stock since October last year.

NVIDIA CEO Jensen Huang sold $169 million worth of company stock in June, marking the largest monthly sale.

Bezos will sell 25 million shares of Amazon stock worth $5 billion. In February, he sold about $8.5 billion worth of stock in 9 trading days, his first stock sale since 2021. After the latest sale, Bezos still holds nearly 912 million shares, about 8.8% of Amazon's shares.

Trump Media Technology Group established a long-term equity arrangement to fund expansion. As part of the agreement, Trump Media Technology Group will issue up to 5.1 million shares.

The parent company of the U.S. luxury department store Saks Fifth Avenue acquired competitor Neiman Marcus for $2.65 billion, creating a combined company with annual sales of about $10 billion. Amazon will hold a minority stake in the new company and plans to provide technology and logistics expertise After only 7 months of launch, Amazon announced the "retirement" of its enterprise security robot.

Tencent's buyback spree continues, with a total buyback of over HKD 52.3 billion in the first half of this year, exceeding the full year of last year, making it the listed company with the largest buyback amount in the Hong Kong stock market.

Chips and Artificial Intelligence

According to Nikkei News: Japan will help Southeast Asia establish local language artificial intelligence models.

Macro: Taking You Around the World

Fed Meeting Minutes: Fed is waiting for "more information" to gain confidence in rate cuts

Officials believe that lowering borrowing costs is inappropriate until "more information gives them more confidence" that inflation is moving towards the 2% target. The "vast majority" of Fed officials assessed that economic growth "appears to be slowing gradually, with most participants indicating that they believe the current policy stance is restrictive." Officials noted that the monthly increase in the core personal consumption expenditure price index was small, indicating clear progress in inflation, supported by May CPI data.

The "Fed megaphone" Nick Timiraos stated that rising inflation has made Fed officials lack sufficient confidence in rate cuts, and the Fed meeting minutes suggest that they are unlikely to cut rates at the later meeting this month.

Fed Chairman Powell will attend hearings of the Senate Banking Committee and the House Financial Services Committee on July 9-10.

Nasdaq and S&P 500 hit new highs, analysts: Bulls "completely in control"

Mark Hackett, head of investment research at financial services company Nationwide, said: "The bulls are still completely in control. Most of the pessimists have surrendered, while seasonal factors and fund flows provide favorable conditions. The dark clouds of the macro outlook are forming, especially in consumer data, but investors' optimistic mindset continues to drive the market higher."

The U.S. June ISM non-manufacturing PMI recorded 48.8, a new low since May 2020. The U.S. June ADP employment figure recorded an increase of 150,000, the smallest since January 2024.

According to The New York Times: A co-founder of Netflix becomes one of the largest Democratic donors demanding Biden to step down.

A poll by The New York Times/Siena College shows Trump leading Biden by 6 percentage points among potential voters. Trump has 49% support, while Biden has 43%, with concerns about Biden's age being a major reason for the reversal in the election.

The White House spokesperson in the U.S. denied that Biden is considering withdrawing from the race.

A U.S. judge has postponed the Biden administration's ban on "comprehensive non-compete agreements"