<h3>Market Overview</h3>
<p>The Dow Jones Industrial Average fell for eight consecutive days, marking the longest losing streak since 2018; Tesla rose over 6%, supporting a new high for the Nasdaq, while chip stocks rose over 2%, with Broadcom surging 11%. Tesla set a new historical high for two consecutive days, while Nvidia fell over 1%, marking its third consecutive decline and entering a correction zone. Microstrategy, which was included in the Nasdaq 100 index, surged over 7% before turning negative, while Advanced Micro Devices, which was removed from the index, fell over 8%.</p>
<p>The US dollar index retreated from a two-week high, and the offshore yuan fell over 100 points during the session, breaching 7.29. Bitcoin surged over $5,000 during the session, breaking through $107,000 to set a new record. Crude oil fell over 1% during the session, with US oil dropping from a five-week high. Gold hit a one-week low during the session.</p>
<p>In the Asian session, the ChiNext and Hang Seng Tech Index fell over 1%, while government bonds continued to rise, with the 30-year yield reaching 1.94%, the lowest since February 2005.</p>
<h3>Is the AI Industry About to Change? Broadcom Soars Nearly 40% in Two Days, While Nvidia Continues to Decline</h3>
<p>After surpassing a market capitalization of $1 trillion and achieving a 24% single-day gain last Friday, Broadcom surged over 11% on Monday, closing at $250 and hitting a historical high of $251.88 during the session, driven by Wall Street raising its target price.</p>
<p>In contrast, Nvidia's stock price fell on Monday, dropping nearly 3% during the session and closing down nearly 1.7% at $132. Since December, Nvidia's stock price has fallen about 4.5%, down over 11% from last month's closing high, officially entering a correction zone. It is generally considered that a stock price decline of 10% or more from a historical closing high constitutes a correction.</p>
<p>The recent surge in Broadcom's stock price is attributed to the company's better-than-expected earnings report and optimistic outlook for the first quarter released last Thursday evening. Benefiting from the generative artificial intelligence (AI) boom, Broadcom's AI-related revenue soared 220% year-on-year to $12.2 billion.</p>
<p>Broadcom refers to its custom AI accelerator as XPU, which is different from the GPUs sold by Nvidia. Broadcom stated that the shipment of XPUs delivered to three hyperscale customers doubled this quarter. Although Broadcom did not disclose the customer list, analysts believe these three companies are Meta, Alphabet (Google's parent company), and ByteDance (the parent company of TikTok).</p>
<h3>Tesla Soars Again by 6%, Continues to Rise by 2% After Hours</h3>
<p>Following a 4.3% surge last Friday, Tesla continued to rise overnight, with its stock price having easily doubled since October 23.</p>
<p>On the news front, Trump's transition team plans to make significant reforms to US electric vehicle policies, potentially eliminating support for electric vehicles and charging infrastructure. The transition team also suggested imposing tariffs on all battery materials globally to promote domestic production in the US and negotiate individual exemptions with allies. Reducing support for electric vehicles may also impact Tesla's sales. However, Musk stated that the elimination of subsidies would have a greater impact on competitors than on Tesla, as he believes Tesla has already established a dominant position in the market.</p>
<h3>Collaboration with SpaceX! WiSeKey Soars Over 50%, Triggering a Trading Halt</h3>
<p>After a significant increase of 139% in stock price last Friday, Swiss technology company WiSeKey International surged over 50% in overnight U.S. stock market trading, triggering a trading halt.</p>
<p>After two trading days on December 12 and December 13, the stock price had accumulated a rise of 480%.</p>
<p>On the news front, WiSeKey announced last Friday (December 13) that its subsidiary would collaborate with Elon Musk's SpaceX to launch a satellite.</p>
<p>WiSeKey stated that the satellite from its subsidiary WISeSat.Space is scheduled to launch on January 14 from Vandenberg Space Force Base in California. The satellite will carry technology to protect the communications of complex quantum computers, which can solve problems beyond the capabilities of traditional computers. WiSeKey founder and CEO Carlos Moreira stated that this launch represents a significant step forward for the company in its mission to ensure the security of IoT communications and prepare for a post-quantum future.</p>
<h3>MSTR spends $1.5 billion on Bitcoin ahead of joining Nasdaq 100, stock price plummets at the close</h3>
<p>Ahead of joining the Nasdaq 100, MSTR purchased $1.5 billion worth of Bitcoin through stock issuance from December 9 to 15, totaling 15,350 coins at an average price of $100,386 each. This marks the sixth consecutive Monday that MSTR has announced Bitcoin purchases, with its total Bitcoin holdings now valued at approximately $45 billion.</p>
<p>Bitcoin surged over $5,000 during trading, breaking the $107,000 mark for the first time in history.</p>
<h3>OpenAI's new bombshell</h3>
<p>ChatGPT search goes global, with upgraded features including real-time search and advanced voice capabilities. The ChatGPT search is available to free users, and compared to the search feature launched for some paid users at the end of October, the new ChatGPT search results integrate maps to view nearby geographical information, and combined with the Advanced Voice mode, allows for direct voice conversations, questions, and answers.</p>
<h3>&#34;New Federal Reserve News Agency&#34;: After another rate cut this week, the Federal Reserve is preparing to slow down or even stop rate cuts</h3>
<p>Nick Timiraos stated that one of the options for the Federal Reserve this week is to cut rates by 25 basis points, then use new economic forecasts to strongly hint that the central bank is ready to slow the pace of rate cuts. Facing differing internal voices, Powell must balance policy adjustments.</p>
<h3>U.S. December services PMI rises to 58.5, the fastest expansion in over three years</h3>
<p>Meanwhile, manufacturing unexpectedly dropped to 48.3, remaining sluggish, with the price index soaring to a two-year high. Analysts noted that the latest PMI data shows a growing divergence in the U.S. economy, with robust growth in the services sector and further deterioration in manufacturing. In manufacturing, factory output and orders are shrinking at a faster pace, with input prices accelerating due to concerns that the new Trump administration may impose tariffs. Input costs for service providers fell to the lowest level since May 2020, influenced by slowing wage growth</p>
<h3>Ministry of Finance: From January to November, the national general public budget revenue was 19,901 billion yuan, a year-on-year decrease of 0.6%</h3>
<p>Among the main tax revenue items, corporate income tax was 39,577 billion yuan, a year-on-year decrease of 2.1%; individual income tax was 13,177 billion yuan, a year-on-year decrease of 2.7%; stamp duty was 3,185 billion yuan, a year-on-year decrease of 12.1%, of which the stamp duty on securities transactions was 1,087 billion yuan, a year-on-year decrease of 35.9%</p>

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<p>Bitcoin surged over $5,000 during trading, breaking through $107,000 for the first time in history; Nvidia fell over 1%, marking its third consecutive decline; MSTR, which was included in the Nasdaq 100 index, rose over 7% before turning negative; Advanced Micro Devices, which was removed from the index, closed down over 8%; Chinese concept stocks index fell over 2%</p>

- The Dow Jones experienced its longest losing streak since 2018, while Tesla surged over 6%, supporting a new high for the Nasdaq.  
- Broadcom's stock rose nearly 40% over two days, driven by strong earnings and optimistic forecasts, while Nvidia faced a decline, entering a correction phase.  
- Bitcoin soared past $107,000, and Microstrategy announced a $1.5 billion Bitcoin purchase, coinciding with its inclusion in the Nasdaq 100.

Breakfast | Breaking the gravitational pull? Broadcom surged nearly 40% in two days, Tesla surged 10% in two days