Late at night is good for raids! Chinese concept stocks are rising straight up!

Late at night is good for raids! Chinese concept stocks are rising straight up!

Stimulated by lower-than-expected inflation data and lower probability of interest rate hikes, the three major U.S. stock indexes collectively opened higher on Wednesday (July 15, local time). The Nasdaq China Golden Dragon Index rose nearly 4%, and popular Chinese concept stocks rose collectively, driven by Alibaba. Stimulated by performance, U.S.

bank stocks also experienced general gains. The three major U.S. stock indexes collectively opened higher on Wednesday, with most large technology stocks rising. As of press time, Apple rose more than 3%, Microsoft and Amazon rose more than 2%, Google A and Meta rose more than 1%, and Broadcom rose slightly.

Investors became optimistic about the inflation situation after New York Fed President John Williams said in a speech on Wednesday that "there are encouraging reasons to believe that inflation has peaked and that inflation should gradually ease over the next few quarters." In addition, the agricultural product price index unexpectedly fell 0.3% in June, while economists had expected the index to be flat on the month.

This follows a lower-than-expected consumer price index (CPI) report on Tuesday, which reinforced market expectations that the Federal Reserve may not need to significantly raise interest rates this year. The report prompted traders to lower their expectations for near-term policy tightening by the Federal Reserve.

According to data from CME's FedWatch Tool, the probability of a rate hike at the Fed's July meeting fell to 17% from 42% the previous day. However, the market is still pricing in a rate hike later this year, with traders placing a 63% chance of a 0.25 or 0.5 percentage point increase after the September meeting.

At the opening of trading on Wednesday, popular Chinese concept stocks rose collectively. The Nasdaq China Golden Dragon Index rose nearly 4%. As of press time, Alibaba rose more than 7%, Xpeng Group, Bilibili, iQiyi, and Manbang rose more than 5%. Baidu rose more than 3%. Pinduoduo, JD.com, NIO, etc. rose nearly 3%.

According to an announcement issued by Netcom China, Apple Intelligence has officially passed the registration of generative artificial intelligence services.

Alibaba responded to a Securities Times reporter that Alibaba Qianwen will be integrated into Apple smartphones as AI capabilities to bring intelligent experiences to Chinese users of iOS, iPadOS, macOS and visionOS.

Users can directly experience Qianwen’s text and image understanding, content generation and other capabilities on Apple devices without switching between applications.

In addition, there is news that Apple and Baidu will also cooperate, and the focus of the cooperation between the two parties will be around the development of search capabilities based on artificial intelligence. These capabilities are part of the "Apple Intelligence" functional system.

In addition to supporting image and text processing, they will also be used to upgrade the Chinese version of Siri voice assistant. However, Baidu has not yet responded to this news. The second quarter financial reports of banking stocks have been disclosed.

Driven by strong market performance and continued volatility, major Wall Street banks generally enjoyed a bumper harvest in their stock trading businesses in the second fiscal quarter.

Morgan Stanley's financial report data released on Wednesday showed that the company's stock trading revenue reached $6.3 billion in the quarter, an increase of 69%, breaking the record set in the first fiscal quarter. In addition, its much-watched wealth management business achieved net new assets of US$148.1 billion, much higher than analysts expected.

Morgan Stanley's results also capped the second-quarter earnings season for major U.S. banks. The quarter has been called a "bumper season" for Wall Street, with stock trading revenue from JPMorgan Chase, Goldman Sachs, Bank of America and Citigroup all exceeding market expectations and hitting record highs.

Investment banking revenue is also in the spotlight after SpaceX completed its record initial public offering, with Morgan Stanley and Goldman Sachs co-leading the deal. Morgan Stanley's stock underwriting business revenue was US$851 million, a 70% increase from the same period last year, pushing investment banking fee income to US$2.44 billion.

Among them, fee income from merger and acquisition advisory business was US$798 million, and fee income from bond underwriting business was US$788 million. After the opening on Wednesday, large bank stocks generally rose. As of press time, BlackRock rose nearly 7%, and Wells Fargo, Bank of America, JPMorgan Chase, etc. rose more than 1%. (

#Stocks #Apple #Microsoft #Meta #Amazon