<h2>Market Overview</h2><p>Despite the pressure from disappointing retail data, U.S. stock indices rebounded over two days; quantum computing stocks continued to surge, with ARQQ up 57% and D-Wave up over 10%; the chip index rose more than 1%, with Intel up nearly 7%; however, several tech giants, including Tesla and NVIDIA, retreated, with Tesla closing down nearly 5% and NVIDIA down nearly 2%.</p><p>Chinese concept stocks strengthened, with the Chinese concept index rising 4%, reaching a three-year high. Baidu rose 9%, JD.com rose nearly 5%, and Alibaba rose over 4%. With Germany set to increase defense spending, Thyssenkrupp rose nearly 6%.</p><p>After the release of U.S. retail sales, the two-year U.S. Treasury yield hit a two-week high. The U.S. dollar index briefly approached a five-month low; the offshore RMB rebounded nearly 200 points after falling below 7.24 during the day; Bitcoin rose nearly $3,000 during the day, surpassing the $84,000 mark.</p><p>Crude oil rebounded over two days, with Brent crude closing at a two-week high. Gold rose for five consecutive days, with futures hitting a historical high over three days, although it briefly turned down during the day.</p><h3><strong>Will Jensen Huang's GTC speech revive NVIDIA's stock price?</strong></h3><p>NVIDIA investors are holding their breath, hoping that Jensen Huang's keynote speech at the GTC conference will bring enough optimism to sustain the stock's recent rebound from its lows.</p><p>Investors are particularly focused on the latest developments regarding the company's Blackwell product line, as well as comments on gross margins, the Chinese market, competitors, and growth prospects.</p><h3><strong>Most of the &#34;Tech Seven Sisters&#34; fell, while quantum computing concept stocks rose more than they fell</strong></h3><p>The Magnificent 7 index fell about 0.8%, while the &#34;Trump Tariff Losers&#34; index rose about 1.8%.</p><p>Tesla closed down 4.83%, Amazon fell 1.12%, Google A fell 0.73%, Meta Platforms fell 0.44%, while Microsoft rose 0.04% and Apple rose 0.24%.</p><p>NVIDIA fell 1.76%, with Ming-Chi Kuo stating that the B300 release will be a key focus for NVIDIA at GTC 2025, with mass production expected in the third quarter.</p><p>ARQQ rose 56.93%, QMCO rose 40.09%, QBTS rose 10.15%, and QUBT rose 13.12%.</p><h3><strong>Chinese concept stocks rose broadly</strong></h3><p>The Nasdaq Golden Dragon China Index closed up 4.03%, rebounding a cumulative 6.61% over the last three trading days. The FTSE A50 index futures rose 0.77% in consecutive night trading, reporting 13,767.000 points.</p><p>In ETFs, the FTSE China 3x Long ETF (YINN) rose 7.21%, the Chinese Internet Index ETF (KWEB) rose 4.11%, and the China Technology Index ETF (CQQQ) rose 1.73%.</p><p>Among popular Chinese concept stocks, Baidu rose over 9%, Alibaba rose 4.6%, Yuyuan Sunshine rose 97.98%, and X3 Holdings rose 47.91%.</p><p>Brain Regen Technology rose 46.59%, Ruineng New Energy rose 32.77%, and Leju rose 25%. Niu Technologies rose 29.04%, and Yixian E-commerce rose over 12%.</p><h3><strong>Intel rose 6.82%, new CEO plans comprehensive reform of chip business and AI strategy</strong></h3><p>According to a report by Reuters on Monday, the new CEO is considering significant adjustments to the company's chip manufacturing and artificial intelligence strategies as part of efforts to turn the situation around, citing two sources familiar with the new CEO's thoughts.</p><p>The company's new CEO, Chen Liwu, has begun planning a series of major reforms aimed at revitalizing the struggling tech giant. Measures include significant reforms to chip manufacturing methods and artificial intelligence (AI) strategies. Insiders revealed that Chen Liwu also plans to address the company's sluggishness and bloated middle management through layoffs.</p><h3>&#34;Outperforming&#34; Tesla? Laser radar test video goes viral, Luminar (LAZR) surges on Monday!</h3><p>Former NASA scientist Mark Robert test-drove a car equipped with Luminar (LAZR) laser radar technology in a YouTube video and stated that its performance surpasses Tesla's Autopilot feature. Following this, Luminar's stock price soared on Monday. By the close on Monday, the company's stock rose 27.1%, closing at $6.42.</p><p>Since its release on YouTube on March 15, the video has attracted over 11 million views. In the video, Robert conducted six tests comparing the laser radar technology with Tesla's system, stating that Tesla's system only uses &#34;simple cameras&#34; and image processing for navigation.</p><p>Luminar's stock price recorded its largest increase in over two months. Meanwhile, Tesla's stock price fell 4.8%, underperforming the S&amp;P 500 and Nasdaq 100 indices.</p><h3><strong>Pinduoduo's earnings report coming Thursday! Q4 revenue expected to grow over 30% year-on-year, profit margin trends become market focus</strong></h3><p>Pinduoduo is set to announce its earnings before the U.S. stock market opens on Thursday, March 20. Analysts expect Pinduoduo's Q4 revenue to reach 115.774 billion yuan, a year-on-year increase of 30.26%; earnings per share are expected to be 16.89 yuan, a year-on-year increase of 6.7%.</p><p>Looking back at the previous quarter's performance, Pinduoduo's Q3 revenue grew 44% year-on-year to 99.4 billion yuan, below market expectations; net profit attributable to shareholders grew 61% year-on-year to 25 billion yuan, but declined 22% quarter-on-quarter. During the Q3 conference call, Pinduoduo's co-CEO Zhao Jiazhen stated that due to limitations in the platform's operating model and the historical experience and capabilities of the team, the company's disadvantages relative to peers are expected to persist significantly for some time, potentially leading to further financial impacts. Affected by these factors, Pinduoduo's stock price fell over 10% on the day of the Q3 earnings announcement.</p><h3><strong>Xiaomi earnings preview: Focus on electric vehicles, smartphones, and IoT business</strong></h3><p>Xiaomi Group (01810) plans to announce its Q4 and full-year results for 2024 on Tuesday. According to a survey by VisibleAlpha of analysts, Xiaomi's net profit for the full year 2024 is expected to be 19.97 billion yuan, equivalent to $2.76 billion, a 14% increase from 2023. The net profit for the fourth quarter may be 5.25 billion yuan, higher than 4.72 billion yuan in the same period last yearRevenue in the fourth quarter is expected to grow by 41% to 103.3 billion yuan.</p><h3><strong>Countdown to Tariff Nuclear Bomb! Trump's Senior Economic Advisor Admits &#34;It Won't Be Peaceful&#34; Before April 2</strong></h3><p>Trump's senior economic advisor recently warned that the evolving tariff agenda in the U.S. will bring more economic uncertainty.</p><p>On Monday (March 17), Kevin Hassett, Chairman of the National Economic Council (NEC), told the media, &#34;Clearly, there will be some uncertainty from now until April 2.&#34;</p><p>The April 2 date mentioned by Hassett refers to the effective date of the so-called &#34;reciprocal tariffs,&#34; which will also apply to agricultural products on the same day. Last month, Trump signed a memorandum directing relevant departments to determine &#34;reciprocal tariffs&#34; with each foreign trading partner.</p><p>Two weeks ago, during a speech at a joint session of Congress, Trump stated that for decades, other countries have imposed tariffs on the U.S., and now it is America's turn to impose tariffs on other countries. Trump acknowledged that tariffs would cause &#34;a bit of disruption,&#34; but it is acceptable</p>

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<p>Nvidia fell nearly 2%, while Intel rose nearly 7%; quantum computing stock ARQQ surged 57%, and lidar stock Luminar soared 27%; the China concept index rose 4%, reaching a three-year high, with Alibaba up over 4%. After U.S. retail sales, the two-year U.S. Treasury yield hit a two-week high. The U.S. dollar index briefly approached a five-month low. Crude oil rebounded over two days. Gold futures closed at a historic high for three consecutive days</p>

- U.S. stock indices rebounded over two days despite disappointing retail data, with quantum computing stocks like ARQQ and D-Wave seeing significant gains.  
- The Chinese concept stocks surged, with the index rising 4%, while major tech companies like Tesla and Nvidia experienced declines.  
- Upcoming earnings reports from Pinduoduo and Xiaomi are anticipated, with Pinduoduo expected to show over 30% revenue growth year-on-year.

Breakfast | Tesla falls nearly 5%, quantum computing stocks continue to rise sharply