---
title: "Breakfast | CPI puts pressure on US stocks to collectively fall, \"China Dragons\" rise against the trend, Tesla's watershed moment is coming"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/216500378.md"
description: "US stocks collectively fell. AMD launched the MI325X AI accelerator, claiming performance surpasses NVIDIA. Tesla's Robotaxi Day is about to begin: the Robotaxi event may showcase the winged double doors, L4 driving technology, commercialization by the end of next year, etc. Meta was exposed to have \"polished\" the intelligent glasses Orion prototype for eight years. The US September CPI exceeded expectations across the board, indicating a bumpy road to cooling inflation. ByteDance initiates a new round of repurchases"
datetime: "2024-10-10T23:52:59.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/216500378.md)
  - [en](https://longbridge.com/en/news/216500378.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/216500378.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/216500378.md) | [繁體中文](https://longbridge.com/zh-HK/news/216500378.md)


# Breakfast | CPI puts pressure on US stocks to collectively fall, "China Dragons" rise against the trend, Tesla's watershed moment is coming

Good morning! A great day starts with making money.

### CPI suppresses US stocks, Chinese concept stocks rise against the market

Inflation in the United States in September exceeded expectations across the board. Several senior officials of the Federal Reserve stated that they are not worried about the September CPI. William Williams, the third person at the Federal Reserve and President of the New York Fed, stated that the downward trend in inflation remains quite stable.

European and American stock markets collectively closed lower, with the Dow down 0.14%, the S&P 500 down 0.21%, and the Nasdaq down 0.05%.

Boeing and Home Depot fell by more than 1%, leading the Dow lower. Tech stocks showed mixed performance, with NVIDIA up more than 1% and Tesla down nearly 1%. Amazon, Netflix, and Google rose slightly, while Facebook fell by more than 1%, and Apple and Microsoft fell slightly. Trump Media Technology stocks surged 17%, hitting a six-week high during trading.

The Nasdaq China Golden Dragon Index rose by 0.3%, the China Technology Index ETF (CQQQ) fell by 1.62%, the Chinese Internet Index ETF (KWEB) rose by 0.23%, the Direxion FTSE China Bull 3X ETF (YINN) rose by 3.45%, the Direxion FTSE China Bear 3X ETF (YANG) fell by 3.28%, the Roundhill China Dragons ETF (DRAG) rose by 1.06%, the Xtrackers Harvest CSI 300 ETF (ASHS) fell by 0.47%, and the Deutsche X-trackers CSI 300 China A-Shares ETF (ASHR) rose by 1.16%. The FTSE A50 futures continued to rise by 0.66% in overnight trading.

Popular Chinese concept stocks showed mixed performance, with the Nasdaq China Golden Dragon Index rising by 0.3%. Legend Biotech rose by about 3%, while Reddy Medicine, Miniso, Ctrip Group, and TAL Education rose by over 2%. Weibo, Yum China, Tencent Music, and Alibaba rose by over 1%. On the downside, Antaisolar and Kingsoft Cloud fell by over 8%, JA Solar fell by about 6%, iQIYI fell by over 4%, Li Auto and Futu Holdings fell by over 3%.

### Exceeding expectations across the board! US CPI rose by 2.4% year-on-year in September, with a core month-on-month increase of 0.3%

In September, the US CPI rose by 2.4% year-on-year, slightly slower than the previous value of 2.5%, but exceeded the expected value of 2.3%, marking the lowest level since February 2021, mainly due to the decline in energy prices. On a month-on-month basis, it rose by 0.2%, unchanged from the previous value, exceeding the expected value of 0.1%.

### How does Wall Street view the US CPI?

Most Wall Street analysts believe that the September CPI data is mixed. Although it strengthened the expectation that the Federal Reserve will slow down the pace of rate cuts, the possibility of a significant 50 basis point rate cut can be ruled out. However, it will not change the Federal Reserve's judgment that inflation is still on a downward trend.

### Evaluation of the US September CPI by the "New Federal Reserve News Agency"

Mixed feelings, the road to cooling inflation continues to be bumpy. Investors have been reconsidering the speed of the Fed's rate cuts as recent labor market data shows that the US economy may be stronger than expected. Although investors still believe that the Fed will cut rates at the remaining two meetings this year, they now believe that the pace of rate cuts next year and the magnitude of rate cuts throughout the rate-cutting cycle will be smaller than expected a few weeks ago.

### Wall Street veterans firmly bullish on the Chinese stock market

Jeff deGraaf, co-founder and CEO of Renaissance Macro Research, stated that in his nearly 35 years on Wall Street, he has rarely seen such favorable conditions for a long-term bull marketHe predicts that the benchmark index of A shares, the CSI 300, could reach 6000 points within the next 12 months. Based on the recent closing price, this implies an increase of over 50%.

### AMD launches MI325X AI accelerator, claiming performance surpasses NVIDIA

CEO Su Zifeng stated that AMD's AI accelerator, which competes with NVIDIA's Blackwell, will begin mass production in the fourth quarter, with performance surpassing NVIDIA. It is expected that the AI accelerator market will reach $500 billion by 2028. In terms of revenue, AMD already holds a 34% market share in the data center CPU field, with its latest CPU outperforming Intel.

### AMD challenges NVIDIA's AI chips, why does the stock price still drop by 4%?

The new product did not significantly change the recent financial outlook. Investors are waiting for returns from AMD's AI investments and are still looking for signs of AMD catching up with NVIDIA, which may only be seen in the third-quarter financial report. AMD's new GPU MI325X may not effectively challenge NVIDIA's dominant position, despite being touted as comparable to Blackwell, its actual performance may not be as good as Blackwell.

### Tesla at a turning point: Robotaxi event coming soon

On Thursday, October 10th at 19:00 local time (10:00 AM on October 11th in Singapore), Tesla will hold a "Robotaxi Day" demonstration event at the Warner Bros. Studios in Los Angeles.

They will showcase the Cybercab robot taxi; demonstrate a specially designed "ride-hailing app"; provide updates on the progress and roadmap of Full Self-Driving (FSD); regulatory approval challenges, most likely testing autonomous driving in Texas; conducting robot taxi trials in China; revealing more details about new vehicle models; updating progress on Optimus; it is unlikely to disclose the latest news on production processes; the uncertainty remains on whether Tesla Semi will be updated.

### Zuckerberg to turn the tables with the strongest AR glasses? Meta's Orion prototype developed over eight years

Ten years ago, Meta, formerly known as Facebook, entered the VR field through a $2 billion acquisition of the startup Oculus. It wasn't until last month when they unveiled the first prototype of augmented reality (AR) smart glasses, Orion, that they seemed to have gained a foothold in the VR and AR fields.

### Amazon Prime Video allows direct subscription to Apple TV+

Amazon announced that US Prime Video users can subscribe to Apple's Apple TV+ service directly through Prime Video starting later this month. The monthly fee for this new service is $9.99.

### Morgan Stanley's Heavy Report: Will Brain-Computer Interfaces Be the Next Major Medical Technology Opportunity?

Morgan Stanley stated that brain-computer interface technology could be a significant breakthrough in future medical technology, providing new treatment options for nearly 10 million candidates (patients with neurological diseases) and bringing about a $400 billion market opportunity.

### Tesla to Offer Permanent Jobs to 500 Temporary Workers at Gruenheide Super Factory in Germany Starting November 1

This decision is based on an optimistic assessment of the further development of electric vehicle production at the Gruenheide factory.

### ByteDance Initiates New Round of Buyback at $180.7 per Share

ByteDance has released the latest round of stock buyback emails, with an offer price of $180.7 per share for current employees and $153.6 per share for departing employees. Based on this rough estimate, ByteDance's valuation has returned to around $300 billion

### Related Stocks

- [Direxion Daily FTSE China Bull 3X ETF (YINN.US)](https://longbridge.com/en/quote/YINN.US.md)
- [Direxion Daily FTSE China Bear 3X ETF (YANG.US)](https://longbridge.com/en/quote/YANG.US.md)
- [Roundhill China Magnificent Seven ETF (DRAG.US)](https://longbridge.com/en/quote/DRAG.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)
- [Apple Inc. (AAPL.US)](https://longbridge.com/en/quote/AAPL.US.md)
- [Amazon.com, Inc. (AMZN.US)](https://longbridge.com/en/quote/AMZN.US.md)
- [OpenAI (OpenAI.NA)](https://longbridge.com/en/quote/OpenAI.NA.md)
- [ByteDance (BYTED.NA)](https://longbridge.com/en/quote/BYTED.NA.md)
- [Roundhill China Magnificent Seven ETF (MAGC.US)](https://longbridge.com/en/quote/MAGC.US.md)

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