05/12/2023
Early trading news on December 5, 2023:
1. The three major U.S. stock indexes collectively closed down on Monday. The Dow Jones index fell 41.06 points from the previous day to close at 36204.44 points, a decrease of 0.11%; the Nasdaq index rose 119.54 points from the previous day to close at 14185.49 points, a decrease of 0.11%. It was 0.84%; the S&P 500 index fell 24.85 points from the previous day to close at 4569.78 points, a decrease of 0.54%; currently, the probability of the three major indexes going down this week is relatively high.
2. Technology stocks can rise by 20% next year: The AI boom is underestimated. Danlves, an analyst at US investment bank Wedbush, said: The market still largely underestimates the potential for change and the huge spending spree that this technology will bring. At present, technology stocks related to the concept of AI still have some room for growth.
3. The phenomenon of technology stocks “escaping from the top” is frequent. Following the sale of shares by Meta’s major shareholder Zuckerberg, NVIDIA (NVDA) executives and directors have submitted a stock selling plan. This plan is to pre-sell shares worth approximately US$180 million. . At present, the selling phenomenon of Nvidia (NVDA) and Meta is definitely not a special case, and other technology stocks are more likely to follow the selling. Therefore, technology stocks are currently under greater downward pressure. It is recommended that everyone not be too optimistic about holding technology stocks.
4. Another pharmaceutical giant enters the weight-loss drug market: Swiss pharmaceutical giant Roche announced that it has agreed to acquire unlisted U.S. weight-loss drug developer Carmot Therapeutics for US$2.7 billion. Roche challenges weight-loss drugs through acquisitions Giants Novo Nordisk and Eli Lilly. This news indicates that the weight loss concept stocks in the US stock market will continue to be popular.
5. Morgan Stanley warns of risks in U.S. stocks: Mike Wilson, head of investment at Morgan Stanley, warned that the U.S. economy has entered the end of this economic upturn, which means that the upside potential for U.S. stocks is limited. Investors hoping for continued sharp gains in U.S. stocks are likely to be disappointed. We also remind everyone that you should not be blindly optimistic about the U.S. stock market. Next, you must put risk control as the first priority, profit second, preserve principal, and operate with caution.
6. Chinese concept stocks: NIO disclosed its third quarter financial report. NIO’s sales reached a record high due to promotional stimulation in the third quarter. While revenue grew, net losses also expanded compared with the same period last year. Judging from the current news, leading new energy companies from China, such as Ideal, NIO, Xpeng, BYD and other companies, have an increasingly strong impact on Tesla. Therefore, we are not optimistic about the prospects of Tesla's stock price rising.
