---
title: "Pre-market trading in US stocks | Tesla, Li Auto lead the way! Cryptocurrency concept stocks soar"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/201455926.md"
description: "Microstrategy surged 12% in pre-market trading, Marathon Digital rose nearly 7%, Coinbase rose over 5%; Tesla rose nearly 4%, Amazon rose over 1%; Li Auto rose nearly 3%, Nio, Bilibili rose over 1%, XPeng, Baidu fell over 2%, Pinduoduo fell over 1%"
datetime: "2024-04-08T10:16:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/201455926.md)
  - [en](https://longbridge.com/en/news/201455926.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/201455926.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/201455926.md) | [繁體中文](https://longbridge.com/zh-HK/news/201455926.md)


# Pre-market trading in US stocks | Tesla, Li Auto lead the way! Cryptocurrency concept stocks soar

### U.S. Stock Market News

1.  On the evening of April 7, 2024, Chinese Minister of Finance Lan Fo'an and U.S. Secretary of the Treasury Janet Yellen held talks in Beijing on topics such as the macroeconomic situation in China and the United States, bilateral economic relations, and cooperation in addressing global challenges. Deputy Minister of Finance Liao Min accompanied the meeting.
    
2.  After a 5-day visit to China, U.S. Treasury Secretary Janet Yellen held a press conference in Beijing on the afternoon of April 8, where she reiterated that the U.S. is not seeking decoupling from China. She emphasized the close economic ties between the two countries and warned of the disastrous consequences of decoupling.
    
3.  Following a price reduction across the board in China a month ago, Alibaba Cloud is now extending discounts overseas: prices have been reduced globally, covering core cloud products deployed in 13 regions around the world, with over 500 product specifications. The average discount is 23%, with the highest discount reaching 59%.
    
4.  According to Sina, Amazon China is laying off employees, with some staff already receiving emails.
    
5.  Bloomberg reports that the U.S. is planning to provide a total of $11.6 billion in funding and loans to three chip factories of TSMC to help the company build a plant in Arizona.
    
6.  Bitcoin rose nearly $1,000 earlier, reaching $72,000, marking the first time since March, with a nearly 4% increase within the day. Ethereum surpassed $3,600, the first time since April 1.
    
7.  Recently, there were reports in the media that Chinese automaker Geely's high-end electric vehicle brand ZEEKR has restarted its initial public offering (IPO) in New York to raise up to $500 million, which is lower than the previously set target of over $1 billion. In response to the news, a ZEEKR spokesperson told reporters: "No comment."
    

### Pre-market Movers

In the U.S. stock market pre-market, the futures of the three major stock indexes are mixed, with a significant drop in the fear index.

Bitcoin is currently trading at $72,106, up over 4% in the past 24 hours; Ethereum is trading at $3,615, up nearly 7% in the past 24 hours.

Cryptocurrency-related stocks surged in pre-market trading, with technology stocks and Chinese concept stocks showing mixed movements.

Microstrategy surged by 12%, Marathon Digital rose by nearly 7%, and Coinbase rose by over 5%.

Tesla rose by nearly 4%, Amazon rose by over 1%, Netflix slightly rose, while Nvidia, AMD, Meta, Apple, and Microsoft declined.

Among Chinese concept stocks, Li Auto rose by nearly 3%, Nio and Bilibili rose by over 1%, Alibaba, JD.com, and NetEase slightly rose, while XPeng, Baidu dropped by over 2%, and Pinduoduo dropped by over 1%.

In terms of individual stocks, EHang Intelligent briefly surged by over 7%. On April 7, the Civil Aviation Administration of China issued a production license for EHang Intelligent's EH216-S unmanned aerial vehicle system in Guangzhou Legendary Biotech once surged over 5%. The company announced that its CAR-T product, Xylobrine, has been approved in the United States for second-line treatment of relapsed or refractory multiple myeloma patients. Legendary Biotech's partner, Johnson & Johnson, predicts that sales of this drug will exceed $1 billion this year.

### Strategy Review

**1\. Will the "rate cut expectations" collapse, halting the rise of US stocks?**

This week, the upward momentum of US stocks will face a key test: 1. Will overheated inflation data once again stifle hopes of a rate cut? 2. The first-quarter earnings season for US stocks has begun, can companies' profitability and prospects support the current high valuations?

**2\. Surged 800% in two weeks! What's going on with the new stock DXYZ?**

This closed-end fund management company, whose stock price has surged, has the largest position in Elon Musk's SpaceX, accounting for 34.6% of the total position, while OpenAI's position accounts for 3.8%. Analysts believe that a new speculation strategy may have emerged: the fluctuations in primary market pricing are affecting the market value of secondary holders. A perfect story not only needs to be told to primary investors but also needs to be disseminated to the secondary market in tangible forms.

**3\. The pitfall for Tesla today was already laid three years ago during its most glorious time**

When Tesla was at its peak, Elon Musk shifted his focus to robotics; as supply chain issues became prominent, Musk chose not to launch new car models and shelved plans for a low-cost car, instead vigorously developing the higher-cost FSD

### 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)
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- [Amazon.com, Inc. (AMZN.US)](https://longbridge.com/en/quote/AMZN.US.md)
- [Microsoft Corporation (MSFT.US)](https://longbridge.com/en/quote/MSFT.US.md)
- [Tesla, Inc. (TSLA.US)](https://longbridge.com/en/quote/TSLA.US.md)
- [NVIDIA Corporation (NVDA.US)](https://longbridge.com/en/quote/NVDA.US.md)
- [Advanced Micro Devices, Inc. (AMD.US)](https://longbridge.com/en/quote/AMD.US.md)
- [Netflix, Inc. (NFLX.US)](https://longbridge.com/en/quote/NFLX.US.md)
- [EHang Holdings Limited (EH.US)](https://longbridge.com/en/quote/EH.US.md)
- [Legend Biotech Corporation (LEGN.US)](https://longbridge.com/en/quote/LEGN.US.md)
- [Li Auto Inc. (LI.US)](https://longbridge.com/en/quote/LI.US.md)
- [XPeng Inc. (XPEV.US)](https://longbridge.com/en/quote/XPEV.US.md)
- [NIO Inc (NIO.US)](https://longbridge.com/en/quote/NIO.US.md)
- [Alibaba Group Holding Limited (BABA.US)](https://longbridge.com/en/quote/BABA.US.md)
- [PDD Holdings Inc. (PDD.US)](https://longbridge.com/en/quote/PDD.US.md)
- [JD.com, Inc. (JD.US)](https://longbridge.com/en/quote/JD.US.md)
- [Baidu, Inc. (BIDU.US)](https://longbridge.com/en/quote/BIDU.US.md)
- [NetEase, Inc. (NTES.US)](https://longbridge.com/en/quote/NTES.US.md)
- [Bilibili Inc. (BILI.US)](https://longbridge.com/en/quote/BILI.US.md)
- [LI AUTO-W (02015.HK)](https://longbridge.com/en/quote/02015.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)
- [BIDU-SWR (89888.HK)](https://longbridge.com/en/quote/89888.HK.md)
- [BIDU-SW (09888.HK)](https://longbridge.com/en/quote/09888.HK.md)
- [XPENG-W (09868.HK)](https://longbridge.com/en/quote/09868.HK.md)

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