To The Moon

Big-Tech’s PerformanceNVIDIA earnings is the biggest focus across the market. Excellent earnings once again exceeded already high expectations, while guidance was boosted and inventories stayed low to show that AI demand remains strong.By the close of trading on May 23, the best performer over the past week was $NVIDIA Corp(NVDA)$ +10%, followed by $Microsoft(MSFT)$ +1.43%, while all others closed lower, $Alphabet(GOOGL)$ $Alphabet(GOOG)$ -0.36%, $Tesla Motors(TSLA)$ -0.63%, $Amazon.com(AMZN)$ -1.4%,

$Alibaba(BABA)$ In considering the issuing $5 billion in convertible bonds; not coincidentally, a few days ago Jingdong announced its intention to offer an aggregate principal amount of $1.5 billion in 5-year convertible senior notesThe company intends to use the money for buybacks, as well as to develop its overseas business. $Alibaba Group Holding Limited(BABAF)$ Investment HighlightsDespite the drop in free cash flow, Alibaba still isn't short of money. But that doesn't mean it has enough dollars overseas. Therefore, in the current high dollar interest rate environment, it is very reasonable and normal operation to find relatively low cost convertible bonds. At the same time, the frictional costs of c

After analyzing the latest global headline fund positions in Chinese stocks, CICC found some interesting trends.Despite a small decline in the market value of Chinese stocks held by overseas capital management institutions in the first quarter, some large institutions such as $American Vanguard (AVD)$ Vanguard and Capital Group have bucked the trend by increasing their positions in Chinese stocks. This suggests that some leading investors still have faith in Chinese stocks despite the overall market trend of reducing holdings.Changes in investor positions by region reveal subtle differences in attitudes towards Chinese stocks across regions.The size of U.S. institutional investors' positions remained stable in the first quarter, with t

$Walmart (WMT)$ announced its Q1 earnings report After that, the stock went straight up to new highs.Q1 key performanceRevenue of $161.51 billion was up 5.8% year-over-year, beating market expectations of $159.42 billion.Adjusted EPS came in at $0.60, beating estimates of $0.53.U.S. same-store sales increased 3.8 percent and Sam's Club same-store sales increased 4.4 percent.E-commerce sales grew 22% year-over-year, driven by third-party sellers and in-store pickup/delivery services.New businesses such as advertising and membership service Walmart+ contributed about one-third of the operating income growth.Revenues from the global advertising business grew 24%, with the U.S. up 26%.The number of third-party sellers grew by 36%, with mor

U.S. economic data has turned weaker recently, driving up market expectations for a rate cut, $ Dow Jones (.DJI)$ $ S&P 500 (.SPX)$ and $ NASDAQ (.IXIC)$ are at new highs. Long-end rates are down 40bp to 4.3%, and the 30-year is also down to around 4.5%, and gold and commodities are also up.All of this stems from the easing of financial conditions, reflecting their reflexive impact on the economy.Financial conditions are composed of short- and long-term interest rates, credit spreads, equity prices and exchange rates, with long-term interest rates, credit spreads and equity prices having the greatest impact.bus

Several outlier options on May 20 followed several market-focused events. $Li Auto(LI)$ reported Q1 earnings. It turned out to be a big miss on the profit side of the equation, panicking investors in a thunderous way, with the stock dropping will the $21 position, hence the massive unwinding of the $23 (current week to expiration) CALL options.$Hims & Hers Health Inc.( HIMS)$ also shot up nearly 30% on the launch of a weight-loss pill that's 80% cheaper than Eli Lilly's, while the IV of Call, which expires at 19 this week, spiked to 193% as more speculative money joined in.Also, the meme ticker continues, $Faraday Future (FFIE)$ After

Big-Tech’s PerformanceThis week, despite Powell's "weak hawkish" statement, but the April CPI showed signs of a slight retreat, the market once again wild, the three major stock indexes to new highs.Despite the reemergence of meme stocks in the first half of the week, times are different now, and it's difficult to have a continuous surge without a massive short squeeze. On the contrary, the emergence of ChatGPT 4o once again brought up AI fever, just next week is NVIDIA earnings, the market focus once again returned to the big technology.By the close of trading on May 16, the best performer over the past week was $NVIDIA Corp(NVDA)$ +6.32%, followed by $Apple(AAPL)$ +2.86%,

$Sea Ltd (SE)$ Q1 results A mixed bag, with significant revenue growth on the one hand and a sharp decline in profits on the other.In terms of overall results, the company reported total revenues of $3.73 billion, up 22.8% year-over-year, beating the consensus estimate of $3.56 billion; however, the net loss of $23 million was significantly lower than the net profit of $87.3 million in the same period last year; while adjusted EBITDA of $401 million was down 21% year-over-year, but still better than the consensus estimate of $222 million.Investment HighlightsE-commerce company Shopee achieved its highest ever quarterly order intake, GMV and revenue. This included a 33% year-on-year increase in revenue of $2.7 billion, above the consensu

Investment HighlightsGame business "stops falling" and rebounds, old games revitalized, expectations and water flow hit three-year highs. Overall, compared with the bottom of the last quarter, Q1 game revenue of 48.1 billion, flat year-on-year, or better than market expectations.Domestic game revenue fell by 2 points, but the water flow began to rebound. The old games "King's Honor" and "Peaceful Elite" instead regained growth because of the new, and "Golden Shovel Shovel", a number of games, exceeded the market expectations in terms of water flow and also hit a new high, which also reflects the industry-wide rebound, as well as the fact that the influence of the old IPs is still important in the absence of explosive hand travel in the industry. In addition, in last year's Q4 was criticize

The market is more sensitive to Fed’s rate cut estimate. Whether a second wave of inflation in the US is moderate, has become a new topic of analysis.The next one to two pieces of inflation data are crucial in determining the pace of rate cuts for the year, as current rate cuts are not a response to economic deteriorationInflation OutlookCore CPI is expected to remain elevated around 3.5% in Q3 2024, before a slight uptick to 3.6% by year-end due to base effects.Leading indicators like rents and wage growth are showing signs of moderation, which should help cool inflation in the coming months.Financial ConditionsTightener financial conditions, driven by higher interest rates and tightening credit spreads, are suppressing demand and inflationary pressures.However, there is a risk of a feedb