To The Moon

Strong U.S. jobs data drove gains on Wall Street; Hong Kong stocks retreated as traders cooled expectations for a rate cut from the Federal Reserve.

 🇺🇸 S&P 500: 1.11% 📈

🇺🇸 Nasdaq: 1.24% 📈

🇪🇺 Stoxx 600 Index: -0.84% 📉

🇯🇵 Nikkei 225 Index: -1.96% 📉

🇭🇰 Hang Seng Index: -0.01% 📉

🇨🇳 CSI 300 Index: Market closed

* U.S. markets rose on Friday, with the S&P 500 and Nasdaq Composite rising 1.1% and 1.2% respectively, after a strong jobs report reinforced views that the economy remains healthy and suggested the Federal Reserve may delay Cut interest rates. I believe this might continue to send the index further down to more correction, $Nasdaq100 Bull 3X ETF(TQQQ)$  $SPDR S&P 500 ETF Trust(SPY)$ in short term.

* U.S. non-farm payrolls increased by 303,000 in March, higher than expectations for 212,000 and accelerating from February's 270,000, while the unemployment rate edged down from 3.9% to 3.8%, leaving the Federal Reserve to decide Flexibility on when to cut interest rates.

* Hong Kong's Hang Seng Index performed lacklusterly, as investors continued to lower hopes for a rate cut by the Federal Reserve at its June meeting amid signs of continued rising inflation.

* ⁠ Wall Street sent negative signals overnight as hawkish signals from the Federal Reserve stoked uncertainty about a U.S. interest rate cut.

💡 Things you need to know today: 💡

1. Samsung Electronics plans to increase chip investment in Texas to about $44 billion, including building another chip manufacturing plant and advanced packaging center, as Washington plans to provide more than $6 billion in incentives to support Samsung's expansion. It seems like the chip demand is still increasing and this will be beneficial to semiconductor stocks like $Apple(AAPL)$  $Microsoft(MSFT)$  $Amazon.com(AMZN)$  

Samsung Electronics

2. Cathie Wood's flagship ARK Innovation ETF (ARKK) continues to struggle, down -8.7% for the year despite a generally positive tech environment, as ARKK's performance is limited to the ETF itself, which The 10 underperforming stocks accounted for 27.75% of ARKK's portfolio.

Cathie Wood

3. Joe Tsai, chairman of Alibaba Group Holding, said that Chinese technology companies are about two years behind their U.S. counterparts in artificial intelligence development, mainly due to the U.S. export restrictions on Nvidia's GPUs. Affecting their ability to provide high-end computing services.

BABA chairman

4. Direct purchases of ETFs by Central Huijin Investment, the investment arm of China's sovereign wealth fund, drove China's CSI 300 Index (up 5.4% year-to-date), which outperformed the Shanghai Composite Index (up 3.6% year-to-date) and the Shenzhen Composite Index (up 3.6% year-to-date). Year-to-date growth of 1.5%).

✅ Key Points:

Investors will be closely watching whether evidence of continued strength in the U.S. economy will be reflected in earnings expectations, as well as March CPI data due to be released this week.

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