<p>Good morning! A beautiful day starts with making money.</p><h3>Only the Dow fell in the US stock market, Trump Media soared 16%, and the China concept index rose 1.7%</h3><p>Investors are focusing on Nvidia's earnings report after the market closes on Wednesday, seeking signs of strong demand for its next-generation AI chip Blackwell, along with the company's recent inclusion in the Dow, which may affect the performance of all key stock indices.</p><p>On Monday, the Dow fell 0.13%, the S&amp;P 500 rose 0.39%, and the Nasdaq rose 0.6%. Cryptocurrency concept stocks surged, with Trump Media &amp; Tech (DJT.O) up 16%, MicroStrategy up 12.9%, Coinbase up 6%, and Bakkt soaring 160%. Tesla rose 5.6%, while Nvidia fell 1.2%.</p><p>The China concept stock index rose. Bilibili rose over 4%, Nio rose nearly 4%, Miniso and XPeng rose over 2%, and Li Auto rose over 1%. iQIYI fell over 2%, and Lufax Holdings fell over 1%. EHang fell 7%. Xiaomi Group ADR rose nearly 6%, with third-quarter revenue increasing 31% year-on-year to a record high of 92.5 billion yuan, and automotive business revenue nearing 10 billion yuan in a single quarter.</p><h3>Morgan Stanley raises S&amp;P 500 target to 6,500 points by the end of 2025</h3><p>Morgan Stanley strategist Michael Wilson, known for his bearish outlook on the US stock market in recent years, has recently reversed his stance, expressing a completely bullish outlook for US stocks in 2025, believing that the S&amp;P 500 will reach around 6,500 points by the end of next year. Since the beginning of 2023, the S&amp;P 500 index has surged over 50%.</p><h3>Bank of America Securities: Nvidia's earnings report may determine the success or failure of the stock market rebound</h3><p>Bank of America Securities expects that Nvidia's earnings report will bring greater volatility compared to the next non-farm payroll data, consumer price index, or Federal Reserve decisions. At that time, the implied volatility of the S&amp;P 500 index will align with Nvidia's own implied volatility, indicating that the risks brought by the earnings report are higher than the upcoming employment and inflation data or Federal Reserve meetings.</p><h3>Trump meets with Coinbase CEO to discuss personnel appointments</h3><p>Sources revealed that Trump will meet with Coinbase CEO Brian Armstrong on Monday. Since Trump's victory, Armstrong has publicly discussed who should be the next leader of the US Securities and Exchange Commission, believing that Trump's SEC commissioner Hester Peirce is the &#34;best candidate.&#34; Coinbase rose over 7% during the session, reaching an intraday high.</p><h3>Trump Media is negotiating to acquire cryptocurrency trading platform Bakkt, with stock prices of both companies soaring</h3><p>Two insiders stated that Trump Media is in &#34;deep negotiations&#34; to acquire cryptocurrency trading company Bakkt. Trump Media &amp; Tech (DJT.O) soared 16%. Bakkt, created by the owner of the New York Stock Exchange, Intercontinental Exchange, saw its stock price surge over 230%, triggering multiple trading halts due to significant volatility.</p><h3>Media: The US Department of Justice will push for Google to sell its browser Chrome to break the monopoly</h3><p>The U.S. Department of Justice will push for Google to sell Chrome to break the monopoly and require measures to allow websites to choose not to use artificial intelligence.</p><h3>Russian Court Fines Google $38,000 for Violations</h3><p>A Russian court has fined Google, a subsidiary of Alphabet, 3.8 million rubles ($38,057) for failing to delete prohibited content. For years, Russia has ordered foreign tech platforms to remove content it deems illegal, imposing small but frequent fines upon discovering violations.</p><h3>NVIDIA is Helping Google Design Quantum Computing Processors</h3><p>Google's Quantum AI department will use NVIDIA's Eos supercomputer to accelerate the design of quantum components. The collaboration aims to advance the physics required for quantum processors to operate, helping them overcome many current limitations.</p><h3>Indian Competition Commission Fines Meta ₹2.13 Billion</h3><p>This is due to anti-competitive behavior related to the 2021 privacy policy update. Additionally, Meta has begun rolling out AI features on its Ray-Ban Meta glasses in France, Italy, Ireland, and Spain.</p><h3>Market News: AMD Chief Accounting Officer (CAO) Smith Resigns, Effective November 18</h3><h3>MicroStrategy Plans to Issue $1.75 Billion in Convertible Notes for Bitcoin Accumulation</h3><p>Additionally, MicroStrategy purchased approximately 51,780 bitcoins for about $4.6 billion in cash.</p><h3>Xiaomi's Automotive Business Reports Quarterly Loss; Xiaomi's Lu Weibing: Scale Effects Will Become More Apparent</h3><p>Xiaomi's innovative businesses, including smart electric vehicles, reported an adjusted net loss of 1.5 billion yuan. Xiaomi Group partner and president Lu Weibing stated that Xiaomi's automotive business is still in its early stages and not large enough. The initial heavy investment in self-built factories and self-developed core technologies has led to losses, but as delivery volumes increase, losses will narrow, and scale effects will become more apparent. Xiaomi has adjusted its 2024 delivery target from the original plan of 120,000 units to 130,000 units.</p><h3>Sequoia China and Hillhouse Exit Nio Capital-Related Company? Nio Responds: Misunderstanding</h3><p>According to Tianyancha App, &#34;Nio Capital&#34; related company Hubei Changjiang Nio New Energy Investment Management Co., Ltd. recently underwent a business change, with the original shareholder Sequoia China's subsidiary exiting, and registered capital reduced from about 180 million yuan to 100 million yuan, along with changes in several executives. A Nio Capital representative stated that the adjustment by Sequoia and Hillhouse through capital reduction is a routine operation according to the &#34;Private Investment Fund Registration and Filing Measures&#34; and its supporting guidelines effective September 1, 2023. After the operation, Sequoia and Hillhouse still retain their partnership shares among general partners, and the change does not affect the fund's daily operations.</p><h3>Temu Considers Launching Platform Model, Further Relaxing Requirements for Merchants</h3><p>Temu initially adopted a fully &#34;managed&#34; model but is now adding a more locally adapted semi-managed model. Temu is also considering launching a third-party platform model, similar to Taobao, where merchants can independently select products, set prices, open stores, and ship overseas, with the platform charging transaction commissionsA Temu representative said that the internal expectation for the business is &#34;only success, no failure; it must be done and it can be done.&#34;</p><h3>SF Holding: Plans to issue 170 million shares in Hong Kong with a maximum issue price of HKD 36.3</h3><p>SF Holding expects the issue price to be between HKD 32.3 and HKD 36.3, with pricing expected on November 25 and announcement on the 26th. Trading on the Hong Kong Stock Exchange is set to begin on the 27th.</p><h3>Media: China Mobile explores acquisition of Hong Kong Broadband, valuation exceeds HKD 6.5 billion</h3><p>China Mobile has been in talks with Hong Kong Broadband's major shareholders, private equity firms MBK Partners and TPG Inc., regarding the acquisition. China Mobile has hinted at a willingness to offer at least HKD 5 per share, which would value the company at over HKD 6.5 billion. Hong Kong Broadband's stock price has risen 24% year-to-date, with a market capitalization of approximately HKD 5.7 billion.</p><h3>Beijing and Shanghai announce on the same day: From December 1, the cancellation of ordinary and non-ordinary housing standards</h3><p>The value-added tax related to the sale of personal housing and the deed tax for personal housing purchases will be implemented according to national regulations. Individuals selling housing purchased for less than two years will pay value-added tax at a rate of 5%. Chinese Premier Li Qiang stated that there should be increased policy support for the construction of good housing, focusing on the renovation of old urban communities, urban villages, and dilapidated houses to improve living conditions.</p><h3>Mainland China to launch eVTOL (electric vertical takeoff and landing aircraft) pilot projects in six cities</h3><p>Several industry insiders revealed that the six pilot cities have been preliminarily determined to be Hefei, Hangzhou, Shenzhen, Suzhou, Chengdu, and Chongqing. The pilot documents include relevant plans for routes and areas, authorizing some local governments for airspace below 600 meters, which means that relevant local governments will bear more management responsibilities.</p><h3>Goldman Sachs: Expects MSCI China Index and CSI 300 Index to rise by 15% and 13% respectively by 2025</h3><p>This is mainly due to earnings per share growth and moderate valuation increases. From an industry perspective, Goldman Sachs advocates including the consumer sector in investment portfolios and has upgraded ratings for the healthcare and brokerage sectors. Additionally, Goldman Sachs believes that with the implementation of debt reduction plans, investments in public welfare and new infrastructure projects may accelerate, making the performance of the consumer and infrastructure sectors worth watching</p>

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<p>Trump Media is negotiating to acquire the cryptocurrency trading platform Bakkt, with Bakkt's stock price soaring 230% during trading, triggering multiple circuit breakers. Trump met with Coinbase CEO to discuss personnel appointments. Bank of America stated that NVIDIA's earnings report could determine the success or failure of the rebound in the U.S. stock market. Morgan Stanley raised its S&P 500 index target for the end of 2025 to 6,500 points. NVIDIA is assisting Google in designing quantum computing processors. China Mobile is exploring the acquisition of Hong Kong Broadband, with a valuation exceeding HKD 6.5 billion. Temu is considering launching a platform model</p>

- On Monday, U.S. stock markets showed mixed results, with the Dow Jones down 0.13%, while the S&P 500 and Nasdaq rose by 0.39% and 0.6%, respectively.  
- Cryptocurrency stocks surged, particularly Trump Media Technology Group, which increased by 16%, and Bakkt, which soared by 160% amid acquisition talks.  
- Additionally, the U.S. Department of Justice is pushing for Google to sell its Chrome browser to address antitrust concerns, and MicroStrategy plans to issue $1.75 billion in convertible notes for Bitcoin purchases.

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Breakfast | DJT's negotiation to acquire stimulates Bakkt to experience a crazy circuit breaker, Morgan Stanley turns bullish on short interest, raising the S&P 500 target to 6,500 points