Global Headlines | U.S. stocks fluctuate back and forth, Nasdaq China Golden Dragon Index rises 1.94% and NIO surges 15.08%

【U.S. Stock Indexes】

On March 10 (Tuesday) U.S. Eastern Time, the major U.S. stock indexes saw choppy trading. The S&P 500 fell 0.21% to 6781.48; the Dow Jones fell 0.07% to 47706.51; and the Nasdaq rose 0.01% to 22697.10.

【U.S. Treasuries】

On March 10, the benchmark 10-year U.S. Treasury yield was 4.15%, while the 2-year U.S. Treasury yield—most sensitive to Federal Reserve policy rates—was 3.57%.

【Popular U.S. Stocks】

Among popular U.S. stocks, NVIDIA rose 1.16%, Apple rose 0.37%, Google A rose 0.22%, Google C rose 0.30%, Microsoft fell 0.89%, Amazon rose 0.39%, TSMC fell 0.47%, Meta rose 1.03%, Tesla rose 0.14%, Advanced Micro Devices rose 0.27%, and Intel rose 2.63%.

【Global Indexes】

【China Indexes】

On March 10, overnight Hang Seng Tech Index futures rose 2.60%. The Nasdaq China Golden Dragon Index rose 1.96%, and the FTSE China A50 Index rose 1.06%.

【China Concept Stocks】

Among popular China concept stocks, Tencent Holdings (HK) rose 7.27%, Alibaba rose 3.16%, PDD rose 2.16%, NetEase rose 0.05%, Baidu rose 2.47%, Trip.com fell 1.04%, Li Auto fell 0.39%, XPeng Motors rose 2.25%, and NIO rose 15.18%.

【FX Commodities】

【Global Headlines】

Apple’s first foldable-screen phone is coming—companies across the supply chain respond quickly

On March 10, stocks in Apple’s industry chain rose notably. Dongshan Precision (002384), Aohai Technology (002993), Yuhuan CNC (002903), and others hit the daily limit, while Blunte Optical, Baibong Technology (300736), and Everbright Tongchuang (301387) saw gains of over 10%. Recently, 3D CAD renderings of Apple’s first foldable-screen iPhone Fold was exposed online, drawing widespread attention in the market. In China’s A-share market, there are more than 110 stocks related to foldable-screen concepts in total. Among them, Lijin Smart Manufacturing (002600), Macro Link (002851), Jingce Electronics (300567), and others have received unanimous institutional predictions that their net profit growth rates over the next two years will exceed 30%. (Securities Times)

The probability that the Federal Reserve holds rates unchanged in March is 99.4%

According to the CME “FedWatch”: the probability of the Federal Reserve cutting rates by 25 basis points by March is 0.6%, while the probability of keeping rates unchanged is 99.4%. The probability of cumulative rate cuts of 25 basis points by April is 13.9%, with the probability of keeping rates unchanged at 86.1%, and the probability of cumulative cuts of 50 basis points at 0.1%. By June, the probability of cumulative rate cuts of 25 basis points is 37.5%.

ChatGPT and other chatbots have been approved for use by the U.S. Senate

According to The New York Times: ChatGPT and other chatbots have been approved for use by the U.S. Senate. (Sina Finance)

Nasdaq China Golden Dragon Index closes up 1.94%, NIO up 15.08%

The Nasdaq China Golden Dragon Index closed up 1.94%. NIO rose 15.08%, Century Internet rose 14.76%, Haitian Network rose 12.04%, Wanwu Xinsheng rose 11.78%, and Tiger Securities rose 6.43%.

xAI, Musk’s company, has obtained approval to build a power plant in Mississippi

xAI, Musk’s company, has obtained approval to build a power plant in Mississippi. (Caixin)

Federal Reserve overnight reverse repo (RRP) usage totals $278 million (4 counterparties)

On Tuesday (March 10), the Federal Reserve’s overnight reverse repo (RRP) usage totaled $278 million (with 4 counterparties), compared with $332 million on the previous trading day.

Brahma AI and Google Cloud team up to develop interactive digital humans

Brahma AI has teamed up with Google Cloud to develop interactive digital humans.

Google launches public preview of its multimodal model Gemini Embedding 2

Google has launched a public preview of its multimodal model Gemini Embedding 2.

NVIDIA and ComfyUI streamline AI video generation workflows for game developers

NVIDIA and ComfyUI streamline AI video generation workflows for game developers.

Musk announces X Money—public testing in April

According to Reuters, Elon Musk announced on March 10 local time that the digital payments system “X Money” on his social platform X will open access to the public next month (April). The billionaire is working to turn X into a “super app.” Musk’s social platform X reached a partnership with Visa last year to provide direct payment services to users on the platform. Since Musk acquired X (formerly Twitter) for $44 billion in 2022, he has long claimed plans to transform the platform into a “super app,” aiming to offer a wide range of features including streaming, communications, images, video, and payments. (Caixin Finance)