---
title: "Pre-market trading in US stocks: Tesla fell nearly 4%, XPeng-W fell nearly 5%, leading the decline in Chinese concept stocks!"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/200455510.md"
description: "According to reports, Tesla is cutting its car production in the Chinese market due to slowing growth in electric vehicle sales. Chinese concept stocks are generally down in pre-market trading, with XPeng-W dropping nearly 5%, JD.com, Bilibili, and Li Auto falling over 2%, Alibaba-SWR, Pinduoduo, Nio-SW, and Baidu-SW dropping over 1%. Lululemon is down nearly 13%, Nike is down over 6%, and FedEx is up nearly 13%"
datetime: "2024-03-22T10:29:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/200455510.md)
  - [en](https://longbridge.com/en/news/200455510.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/200455510.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/200455510.md) | [繁體中文](https://longbridge.com/zh-HK/news/200455510.md)


# Pre-market trading in US stocks: Tesla fell nearly 4%, XPeng-W fell nearly 5%, leading the decline in Chinese concept stocks!

### U.S. Stock News

1.  Meituan reported a fourth-quarter revenue of 73.70 billion RMB, exceeding the estimated 72.7 billion RMB; operating profit of 1.76 billion RMB, exceeding the estimated 1.34 billion RMB; net profit of 2.22 billion RMB, exceeding the estimated 1.09 billion RMB; adjusted net profit of 4.37 billion RMB, exceeding the estimated 2.9 billion RMB.
    
2.  It is reported that due to the slowdown in electric vehicle sales, Tesla is cutting its car production in the Chinese market.
    
3.  NVIDIA and Kuaishou announced the latest progress of the recommendation system based on the Hopper architecture: by migrating part of the CPU load to the GPU, conducting in-depth analysis and optimization of GPU performance bottlenecks, implementing kernel fusion oriented towards throughput, and a series of other measures, the system bottleneck issue has been successfully resolved, thereby improving recommendation efficiency by a full 20%.
    
4.  Tencent Music's board of directors adjustment: Xie Zhenyu resigned from the positions of Tencent Music's President and CTO, and CFO Hu Min was appointed as a board member.
    
5.  Due to the possibility of water seeping into the transmission control harness, causing a short circuit and shifting the transmission from park to neutral, Hyundai will recall a total of 15,645 units of the 2024 Genesis GV70.
    
6.  Airbus announced on its official Weibo account that it has received aircraft orders from two Asian airlines. Japan Airlines announced an additional purchase of 21 A350-900 aircraft and committed to ordering 11 A321neo aircraft, marking Japan Airlines' first order of single-aisle aircraft; Korean Air announced the purchase of 33 A350 series aircraft.
    

### Pre-market Movers

In pre-market trading, the three major U.S. stock index futures are up, while the fear index is down.

Bitcoin is currently trading at $65,221, down over 2% in the past 24 hours; Ethereum is trading at $3,456, down over 2% in the past 24 hours.

Among tech stocks, Tesla is down nearly 4% pre-market, while NVIDIA, AMD, Apple, and others are all up.

Chinese concept stocks are generally down, with XPeng down nearly 5%, JD.com, Bilibili, Li Auto down over 2%, Alibaba, Pinduoduo, Nio, Baidu down over 1%.

In individual stocks, Lululemon is down nearly 13% as Q1 and full-year sales guidance fell short of expectations.

Nike is down over 6% as Q3 revenue growth was only 0.3% year-on-year, with a pessimistic outlook for the 2025 fiscal year.

FedEx is up nearly 13% as adjusted EPS for Q3 exceeded expectations, and a $5 billion stock buyback plan was announced.

### Strategy Review

**1\. Another milestone in anti-monopoly! In 1998, Microsoft was split up, will Apple follow the same path this time?** The "battle" between Apple and the Department of Justice will be a marathon that concerns the reform and update of antitrust laws, affecting the fate of the technology industry.

**2\. "Overbought Pullback" Alarm Rings! Bitcoin May See Its Worst Weekly Performance in 2024**

"In fact, this time Bitcoin's rise did not take off from historical highs as before, which has led many to question the ultimate strength of this bull market. With Bitcoin's halving approaching, if this event fails to truly sustain the momentum of Bitcoin's price, then we may face a significant pullback, meaning the price could potentially drop below $50,000 in the short term."

**3\. The Fed is More Dovish Than Market Expectations! Is a Rate Cut in June Inevitable?**

The core PCE data favored by the Fed may provide some comfort to the market. Although the year-on-year increase in the core PCE price index remains around 2.8%, it is trending downwards and may further decline in the coming months. This could reignite market expectations for a Fed rate cut and support the Fed in starting a loose monetary policy cycle

### Related Stocks

- [Meta Platforms, Inc. (META.US)](https://longbridge.com/en/quote/META.US.md)
- [Alphabet Inc. (GOOGL.US)](https://longbridge.com/en/quote/GOOGL.US.md)
- [Alphabet Inc. (GOOG.US)](https://longbridge.com/en/quote/GOOG.US.md)
- [Microsoft Corporation (MSFT.US)](https://longbridge.com/en/quote/MSFT.US.md)
- [Apple Inc. (AAPL.US)](https://longbridge.com/en/quote/AAPL.US.md)
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- [NVIDIA Corporation (NVDA.US)](https://longbridge.com/en/quote/NVDA.US.md)
- [Tesla, Inc. (TSLA.US)](https://longbridge.com/en/quote/TSLA.US.md)
- [Advanced Micro Devices, Inc. (AMD.US)](https://longbridge.com/en/quote/AMD.US.md)
- [lululemon athletica inc. (LULU.US)](https://longbridge.com/en/quote/LULU.US.md)
- [NIKE, Inc. (NKE.US)](https://longbridge.com/en/quote/NKE.US.md)
- [FedEx Corporation (FDX.US)](https://longbridge.com/en/quote/FDX.US.md)
- [Alibaba Group Holding Limited (BABA.US)](https://longbridge.com/en/quote/BABA.US.md)
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- [JD.com, Inc. (JD.US)](https://longbridge.com/en/quote/JD.US.md)
- [NIO Inc (NIO.US)](https://longbridge.com/en/quote/NIO.US.md)
- [XPeng Inc. (XPEV.US)](https://longbridge.com/en/quote/XPEV.US.md)
- [Li Auto Inc. (LI.US)](https://longbridge.com/en/quote/LI.US.md)
- [Bilibili Inc. (BILI.US)](https://longbridge.com/en/quote/BILI.US.md)
- [NetEase, Inc. (NTES.US)](https://longbridge.com/en/quote/NTES.US.md)
- [Baidu, Inc. (BIDU.US)](https://longbridge.com/en/quote/BIDU.US.md)
- [XPENG-W (09868.HK)](https://longbridge.com/en/quote/09868.HK.md)
- [BIDU-SWR (89888.HK)](https://longbridge.com/en/quote/89888.HK.md)
- [BIDU-SW (09888.HK)](https://longbridge.com/en/quote/09888.HK.md)
- [NIO-SW (09866.HK)](https://longbridge.com/en/quote/09866.HK.md)
- [NIO Inc (NIO.SG)](https://longbridge.com/en/quote/NIO.SG.md)
- [Direxion Daily TSLA Bull 2X Shares (TSLL.US)](https://longbridge.com/en/quote/TSLL.US.md)

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