<h3>US Stock Market News</h3>
<ol>
<li>
Question: Recently, the Energy and Commerce Committee of the US House of Representatives voted on a bill targeting ByteDance, requiring ByteDance to divest control of its short video app in the US, otherwise facing a ban. What is the comment from the spokesperson on this matter?
Spokesperson of the Chinese Ministry of Commerce: We have noted the actions of the US Congress. The US should genuinely respect the principles of market economy and fair competition, stop unjustified suppression of foreign companies, and provide an open, fair, just, and non-discriminatory environment for companies from all countries to invest and operate in the US. Relevant parties should strictly abide by Chinese laws and regulations, and China will take all necessary measures to resolutely defend its legitimate rights and interests.
</li>
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There are reports that Tencent has taken over some of the gaming business that ByteDance laid off in November last year.
</li>
<li>
NIO-SW revealed that its sub-brand, codenamed &#34;Alps,&#34; has been officially named &#34;Ledao,&#34; positioned as a family car, inspired by the concept of &#34;family happiness and household management.&#34; The brand will be launched in early May.
</li>
<li>
NVIDIA will officially launch the Generative AI Professional Certification at the GTC conference, enabling developers, professionals, and other relevant individuals to demonstrate and showcase their skills and expertise in generative AI.
</li>
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Microsoft announced that Microsoft Copilot for Security (International Edition) will be officially released globally on April 1st.
</li>
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Weibo's net revenue in the fourth quarter was $463.7 million, estimated at $454.3 million; adjusted EBITDA in the fourth quarter was $158.2 million, a YoY increase of 1.9%; adjusted EPS in the fourth quarter was $0.31, estimated at $0.50; daily active users in the fourth quarter were 260 million, estimated at 260 million.
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Futu Holdings' total revenue in Q4 last year was HKD 2.373 billion, a YoY increase of 4.1%; net profit was HKD 870 million, a YoY decrease of 8.6%; adjusted net profit was HKD 950 million, a YoY decrease of 6.3%.
</li>
<li>
Zhiwen Group's net revenue in the fourth quarter was RMB 3 billion, estimated at RMB 2.92 billion; adjusted earnings per ADS in the fourth quarter were RMB 2.63, estimated at RMB 2.49; monthly active users in the fourth quarter were 137 million, estimated at 110 million.
</li>
</ol>
<h3>Pre-market Movement</h3>
In the US stock market pre-market, the three major stock index futures rose, while the fear index fell.
<img src="https://pub.pbkrs.com/cms/2024/0/Wn1ksNySxzCgHDJJ1Qfz4CjwxYBBeueK.jpg?x-oss-process=style/lg" alt="Image" original-src="https://pub.pbkrs.com/cms/2024/0/Wn1ksNySxzCgHDJJ1Qfz4CjwxYBBeueK.jpg"/>
Bitcoin is currently trading at $73,259, slightly down in the past 24 hours; Ethereum is trading at $3,982, down nearly 2% in the past 24 hours.
<h2><img src="https://pub.pbkrs.com/cms/2024/0/3Arnis6m6hpwrzfPsNLJsGGKUUEoWFLz.jpg?x-oss-process=style/lg" alt="Image" original-src="https://pub.pbkrs.com/cms/2024/0/3Arnis6m6hpwrzfPsNLJsGGKUUEoWFLz.jpg"/></h2>
<h3>Pre-market fluctuations in tech stocks and Chinese concept stocks are mixed.</h3>
Tesla is down nearly 2%, Nvidia is falling, while AMD, Microsoft, Apple, Amazon, and Meta are up.
As for Chinese concept stocks, Pinduoduo is up nearly 1%, while XPeng and JD.com are down over 2%, and Baidu, Alibaba, and NIO-SW are down over 1%.
Cryptocurrency-related stocks continue to rise pre-market, with Microstrategy up 5%, Coinbase up over 1%, and Marathon Digital up nearly 1%.
In individual stocks, Fisker plummeted 50% pre-market, with reports of the company planning to file for bankruptcy.
Weibo's US stocks surged over 8% at one point.
UiPath soared 9% at one point, with Q4 revenue and annual performance guidance exceeding expectations.
Zhiwen Group plummeted 20%, with an expected QoQ revenue decline of 9.5% to 13.1% for the next quarter.
Futu dropped 15% at one point, with last year's Q4 performance falling short of expectations, and a YoY net profit decline of 8.6%.
Tiger dropped 9% at one point, following Futu's decline.
<h3>Strategy Review</h3>
1. Why Tesla may fall another 30%?
Without growth, is valuation still justified? Fuguo Bank believes Tesla is a &#34;growth company without growth,&#34; with an overvalued valuation. It is expected that sales will remain flat this year and start to decline in 2025. The target price has been lowered to $120, indicating a further drop of around 30%.
2. Apple's rough start to the year, why is Wall Street still bullish?
Since the beginning of the year, Apple has fallen 10%, underperforming the market. However, Wall Street sees this as an opportunity to buy Apple stock, as the upcoming AI &#34;catalyst&#34; could trigger a rebound—when Apple incorporates generative AI into its iOS features, it could boost investor optimism!
3. &#34;Quadruple Witching Day&#34; is here on Friday! Market focus: Nvidia options!
Historically, during the &#34;Quadruple Witching Day&#34; week in the first quarter, there is a higher probability of a bullish trend in the US stock market. However, the week following the &#34;Quadruple Witching Week&#34; is often the opposite, with the S&amp;P falling in 27 out of the past 41 years—and often by a significant margin. Could Nvidia options be the cause of trouble this time?
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Cryptocurrency concept stocks continue to rise in pre-market trading. Microstrategy is up 5%, Coinbase is up over 1%, and Marathon Digital is up nearly 1%. On the other hand, Fisker plummeted by 50% in pre-market trading, while Hello's parent company Hello dropped by 20%. Futu briefly fell by 15%, Tiger by 9%, and Weibo's US stocks briefly rose by over 8%.

LB Select

Meta Platforms

Alphabet

Alphabet - C

Microsoft

Amazon

Apple

Tesla

NVIDIA

Strategy

Coinbase

Mara

Hello

Futu

UP Fintech

Weibo

Alibaba

JD.com

XPeng

Li Auto

Bilibili

NetEase

Baidu

UiPath

JD-SW

JD-SWR

XPENG-W

Pre-market in the US stock market: XPeng-W, JD lead the decline in Chinese concept stocks, only PDD rises! The market is focusing on tonight's US PPI.