Overnight US Stocks | The three major US stock indexes fell together, with Tesla plunging 8% after hours

According to the Wise Finance APP, on Monday, the three major indexes turned down in the late trading session, with the financial reports of large technology companies becoming the focus. Investors are also paying attention to the U.S. election situation and the possibility of a rate cut by the Federal Reserve this year.

[US Stocks] At the close, the Dow Jones fell 57.35 points, or 0.14%, to 40,358.09 points; the Nasdaq fell 10.22 points, or 0.06%, to 17,997.35 points; the S&P 500 fell 8.67 points, or 0.16%, to 5,555.74 points. Alphabet (GOOGL.US) saw a slight increase in its stock price in after-hours trading. Tesla (TSLA.US) stock price fell over 2% in after-hours trading, briefly exceeding 3%.

[European Stocks] The German DAX30 index rose by 0.82% to 18,557.70 points; the UK's FTSE 100 index fell by 0.38% to 8,167.37 points; the French CAC40 index fell by 0.31% to 7,598.63 points; the Euro Stoxx 50 index rose by 0.40% to 4,916.80 points.

[Asia-Pacific Markets] The Nikkei 225 index fell by 0.01%, the Jakarta Composite Index fell by 0.11%, and the Vietnam VN30 index fell by 1.59%.

[Gold] COMEX August gold futures rose by 0.51% to $2,406.8 per ounce at the close, breaking a four-day decline trend; spot gold prices fell first and then rose, breaking above $2,400 per ounce in the early Asian session before falling back below $2,390, with a decline of about 0.35%.

[Cryptocurrency] Bitcoin fell by 2.51% to $66,112 per coin; Ethereum rose by 1.49% to $3,497.65 per coin.

[Crude Oil] Oil prices fell for the fourth consecutive day, marking the longest losing streak since early June. WTI September crude oil futures closed down $1.44, or about 1.84%, at $76.96 per barrel. Brent September crude oil futures closed down $1.39, or about 1.69%, at $81.01 per barrel.

[Metals] London industrial base metals collectively declined. LME copper fell by $50 to $9,166 per ton. LME aluminum fell by $4 to $2,295 per ton. LME zinc fell by $38, with a decline of over 1.39%, to $2,688 per ton. LME lead fell by $24, down more than 1.5%, to $2,060 per ton. LME nickel fell by $169, down more than 1.04%, to $16,021 per ton. LME tin fell by $470, down more than 1.57%, to $29,418 per ton.

[Macro News]

Latest U.S. election poll: Harris narrows gap with Trump. Biden has decided to give up running for re-election in 2024 and instead support Kamala Harris as his successor, a decision that directly impacts the election. According to the latest poll by Morning Consult, this is the first major survey since Biden announced his withdrawal. The poll shows that Harris (45%) is two percentage points behind Trump (47%). This represents an improvement from the 6-point gap faced before Biden withdrew from the race US Existing Home Sales Decline in June: Median Home Price Hits Historic High. US existing home sales in June fell more than expected, as the median home price hit a new historic high. However, hopes for a rebound in housing market activity in the coming months were sparked by improvements in supply and a decrease in mortgage rates. The National Association of Realtors announced on Tuesday that last month's seasonally adjusted annual rate of home sales was 3.89 million units, a 5.4% decrease, marking the lowest level since December last year. Analysts surveyed by Reuters had previously expected home sales to decline to 4 million units. Existing home resales, which account for a large portion of US home sales, dropped by 5.4% year-on-year in June. The median home price surged by 4.1% compared to the same period last year, reaching a historic high of $426,900, marking the second consecutive month of hitting a new record high.

Market Confident in Fed Rate Cut This Year, Strong Demand for 2-Year US Treasury Notes Auction. On Tuesday local time, the US Treasury auctioned $69 billion of 2-year government bonds, with strong auction results and high market demand, setting a record for overseas buying. The winning yield for this 2-year US Treasury auction was 4.434%, significantly lower than the 4.706% on June 25, a difference of 27.2 basis points. The winning yield for this 2-year US Treasury also hit the lowest level since January this year. The winning yield was 2.3 basis points lower than the pre-issued rate of 4.457%, marking the second largest difference between the two since records began, second only to March 2023, highlighting strong market demand.

##【Stock News】

Tesla's Q2 Profit Plunges by Double Digits, Robotaxi Launch Delayed, Stock Plunges Over 8% After Hours. Tesla's revenue for the second quarter was $25.55 billion, slightly higher than the expected $24.63 billion, but lower than the $24.93 billion a year ago. Tesla's adjusted earnings per share were $0.52, below the expected $0.60, with a non-GAAP net profit of $1.8 billion. Tesla CEO Musk confirmed in the earnings call the previous media reports that the launch of Robotaxi was delayed from August 8 to October 10. After the second quarter financial report was released, Tesla's stock price fell by about 2% on Tuesday and accelerated further after hours, with a drop of over 4%. During Musk's speech on the call, the decline widened to over 8%.

Alphabet's Q2 Revenue and Profit Exceed Expectations, Quarterly Cloud Revenue Exceeds $10 Billion for the First Time, AI Losses Expand. In the second quarter, Alphabet's total revenue increased by 13.6% year-on-year to $84.74 billion, surpassing analysts' expectations of $84.37 billion. Adjusted earnings per share increased by over 31% year-on-year to $1.89, higher than the expected $1.84. The cloud computing revenue was $10.35 billion, with an operating income of $1.17 billion, beating analysts' expectations of $10.1 billion and $982.2 million in operating income. In the second quarter, the company invested $2.2 billion in its DeepMind and Google Research departments to build AI models, higher than the $1.1 billion in the second quarter of 2023 Simulated chips show signs of recovery, with Texas Instruments (TXN.US) guiding above expectations. Texas Instruments reported a 16% year-on-year decrease in total revenue to $3.82 billion, marking the seventh consecutive quarter of year-on-year revenue decline. However, the revenue figure of $3.82 billion met analysts' expectations and achieved a 4% sequential growth, indicating a recovery in demand for simulated chips. Texas Instruments' management expects total revenue for the quarter ending in September to be between $3.94 billion and $4.96 billion, with the midpoint of the range exceeding the average Wall Street analyst expectation of around $4.14 billion.

From a 6% increase to a 6% decrease! General Motors (GM.US) electric vehicle transformation delay triggers sharp stock price drop. General Motors' stock price rose and then fell after releasing a promising financial report on Tuesday, reflecting market concerns about headwinds facing its autonomous driving and electric vehicle businesses. The stock decline is related to the uncertain outlook of the electric vehicle transformation plan. Last week, General Motors CEO Mary Barra publicly expressed doubts about the company's goal of reaching the milestone of producing 1 million electric vehicles in North America by the end of 2025. On Tuesday, the company announced a further delay in opening an electric pickup truck factory in the Detroit suburbs and postponed the launch of a Buick plug-in hybrid model.

Thousands of flights canceled, Delta Air Lines (DAL.US) faces investigation in the United States. Delta Air Lines is under investigation by U.S. authorities due to its handling of technical failures leading to the cancellation of thousands of flights. This situation has added pressure on the company, as Delta Air Lines stated a day ago that flight cancellations are expected to continue until later this week. Among major U.S. airlines, Delta Air Lines is facing the most severe situation. Last Friday, the network failure caused by CrowdStrike disrupted systems in multiple industries globally, but most other airlines resumed normal operations over the weekend.

Global economic impact of outage, CrowdStrike (CRWD.US) CEO summoned to testify in Congress. Due to the global economic impact of last week's outage, CrowdStrike CEO George Kurtz has been summoned to testify in the U.S. Congress, with Wedbush Securities calling this testimony a "critical moment" for the company. Wedbush analysts stated, "This will be a critical moment for Kurtz and CrowdStrike, as Congress and Washington are ready to focus on the global dark chapter of the CrowdStrike story."