To The Moon

* Wall Street sighs with relief at avoiding further rate hikes after Fed Chairman Powell's unsurprising speech; Chinese markets remain cautious ahead of tech earnings

🇺🇸 S&P 500: 0.50% 📈

🇺🇸 Nasdaq: 0.75% 📈

🇪🇺 Stoxx 600: 0.16% 📈

🇯🇵 Nikkei 225 Index: 0.46% 📈

🇭🇰 Hang Seng Index: -0.19% 📉

🇨🇳 CSI 300 Index: -0.21% 📉

• U.S. stocks cheered, with the S&P 500 and Nasdaq Composite rebounding 0.5% and 0.8% respectively. In a cautious statement, Federal Reserve Chairman Powell emphasized patience in waiting for the current high interest rates to work to curb inflation and pledged to increase Interest rates are no longer on the table, citing some relief in the producer price index, which was mixed but not by much.

• U.S. PPI beat expectations, rising steadily by 0.5% quarter-on-quarter, with rapidly rising costs for services such as portfolio management and hotel accommodations suggesting inflation remains high at the start of the second quarter.

• Asia-Pacific stock markets were mixed, with Hong Kong's Hang Seng and China's CSI 300 down slightly -0.2%, with rising technology profits from Alibaba and Tencent adding to cautious market sentiment. The Nikkei rose 0.5%, with steadily rising PPI reaffirming that efforts to boost reflation are on track.

💡 Future events: 💡

* Will be released on Wednesday EU industrial production m/m, U.S. core CPI m/m, core retail sales m/m, CPI m/m and CPI year-on-year and retail sales m/m.

* Japan's preliminary quarterly GDP growth, Australia's unemployment rate, U.S. jobless claims and monthly industrial production were on investors' radar Thursday

* At the end of the week, we will see the release of China's annual industrial production and unemployment rate, and the EU's final CPI annual rate.

💡 Things you need to know today: 💡

1. Biden announced a significant increase in tariffs on Chinese imports, totaling $18 billion, including quadrupling electric vehicle tariffs to more than 100% and doubling semiconductor tariffs to 50% to accuse China of stealing knowledge on the grounds of property rights, it risks confronting the Chinese government in an election year.

2. Google's $Alphabet(GOOGL)$  parent company further announced that it will launch a series of artificial intelligence applications in its business, including enhanced Gemini chatbots and search engine improvements. The latest launch is the Gemini 1.5 artificial intelligence model (called Flash); the prototype is called Project Astra, which talks to users in real time about anything captured by their smartphone cameras.

Gemini

3. Home Depot's $Home Depot(HD)$  quarterly same-store sales fell -2.8% year over year, a larger-than-expected decline as cautious Americans cut back on big-ticket purchases and focused on small home repairs and Maintenance work. Big-ticket transactions over $1,000 fell 6.5% year over year. Currently, the company's focus is on catering to professional builders and contractors. The decline was larger than expected as cautious Americans cut back on big-ticket purchases and focused on smaller home repairs and maintenance work. Big-ticket transactions over $1,000 fell 6.5% year over year. Currently, the company's focus is on catering to professional builders and contractors.

Home Depot

4. Alibaba's $Alibaba(BABA)$  stock price fell sharply due to a decline in profits, down 86% year-on-year. This was mainly due to a net loss on investment in listed companies based on market prices, while its e-commerce business unit, marketing department and international business experienced slight losses increase.

Alibaba

5. TSMC $Taiwan Semiconductor Manufacturing(TSM)$   plans to start building its first European factory in the fourth quarter of 2024, and last year announced it would build an $11 billion factory in Germany, with Infineon, NXP and Robert Bosch (Robert Bosch) each holds 10% of the shares. They are confident that subsidies for the facility under the European Chips Act will be approved.

TSMC

✅ KEY TAKEAWAYS:

With stubborn inflation and a relatively balanced labor market, market expectations for a first rate cut have fallen back to September from March.

@Daily_Discussion  @TigerGPT  @MillionaireTiger  @Tiger_comments  @CaptainTiger  @TigerStars