China’s Concept Stocks Surge Ahead of Market Open: US Futures Follow Suit in Quiet Gains
Financial Associated Press, September 27 (Editor Zhao Hao)The inflation data released before the U.S. stock market opened on Friday (September 27) was generally in line with expectations, and the three major index futures strengthened slightly.
As of press time, Dow Jones Index futures were up 0.25%, S&P 500 Index futures were up 0.21%, and Nasdaq 100 Index futures were up 0.24%.
Specific data shows that the U.S. personal consumption expenditures (PCE) price index increased by 0.1% month-on-month and 2.2% year-on-year in August, both slower than in July; the core indicator increased by 0.1% month-on-month, lower than the 0.2% previously expected by the market. A year-on-year increase of 2.7% was in line with expectations.
Since 2000, the Federal Reserve has used the PCE price index as the main basis for judging inflation. Compared with the Consumer Price Index (CPI), PCE can better reflect consumer behavior.
Analysts believe that both Federal Reserve policymakers and Wall Street hope that the data will show a cooling trend. But it should be pointed out that if the temperature cools down too quickly, it will once again trigger concerns about a potential recession.
The report also showed that the monthly rate of personal expenditures and personal income in the United States in August was only slightly lower than expected, and actual personal consumption expenditures increased by 0.1% month-on-month, in line with expectations. Coupled with yesterday’s smaller-than-expected number of first-time jobless claims, it suggests a strong labor market.
In terms of individual stocks, Tesla rose nearly 1.3% before the market opened. China’s official website showed that the company’s zero-interest car purchase policy has been extended; Bristol-Myers Squibb rose more than 3.6%. The US regulatory authorities approved its Cobenfy to treat schizophrenia. This is the first time in decades. The first drug approved to treat schizophrenia in years.
Chinese concept stocks continue to strengthen. Among the popular Chinese concept stocks, Miniso has risen by more than 6%, Ctrip.com and BOSS Zhipin have risen by more than 4%, and Weilai, Xpeng Motors and TAL have increased by more than 3%; the trading volume ranks top Alibaba rose more than 1%, while Pinduoduo and JD.com rose more than 3%.
Most European stock markets currently trading are also rising, with Germany’s DAX30 index now up 1.24%, Britain’s FTSE 100 index up 0.41%, and France’s CAC40 index up 1.43%.
As Shigeru Ishiba, former secretary-general of the Liberal Democratic Party of Japan, was elected as the new president of the Liberal Democratic Party, the U.S. dollar fell more than 1.5% against the yen during the day. The December contract futures of the Nikkei 225 Index once plunged more than 5%, triggering the circuit breaker mechanism, and the decline has now narrowed to around 4.3%.
company news
[Tesla’s 0-interest car purchase event is postponed again]
Tesla’s official mini program shows that the 5-year 0-interest car purchase event for Model 3/Y cars has been extended to October 31. Tesla announced July car purchase rights for its Model 3/Y models on July 1. Rear-drive standard range/long-range four-wheel drive models can enjoy a limited-time 5-year 0-interest installment purchase plan if they place an order before July 31. On July 23, Tesla announced that it would postpone the event to August 31. On August 26, Tesla postponed the event to September 30. This is now the third postponement.
[The U.S. ITC issued Part 337 final ruling on products containing tilpotide and products claiming to contain tilpotide]
According to the China Trade Remedy Information Network, on September 26, 2024, the U.S. International Trade Commission (ITC) issued an announcement stating that certain products containing Tirzepatide and products claiming to contain Tirzepatide (Certain Products Containing Tirzepatide and Products Purporting to Contain Tirzepatide, investigation code: 337-TA-1377) made a final ruling in Part 337: The preliminary ruling (No. 23) made by the administrative judge in this case on August 27, 2024 will not be reviewed, that is, the American Fibonacci Sequence LLC d/b/a GenX Peptides of Houston, Texas is an absent defendant.
[British regulators clear Amazon and Anthropic’s artificial intelligence cooperation]
The British Competition and Markets Authority (CMA) said on September 27 that Amazon’s artificial intelligence cooperation project with startup Anthropic will not be submitted for a more in-depth investigation because the cooperation does not raise competition issues. Last year the two companies announced a strategic cooperation in the development of generative AI.
[Tabitu®, a targeted treatment drug for chronic obstructive pulmonary disease, was approved in China]
Sanofi announced that Dalbitur® (duplimumab injection) has been approved by the China National Medical Products Administration (NMPA) for the treatment of chronic obstructive pulmonary disease with elevated blood eosinophils and poor control. Adult patients. This approval preceded the U.S. FDA approval, and compared with the European Union and the United States, China’s approval time was the shortest, once again setting a new record for innovative drugs benefiting Chinese patients.
[E-commerce interconnection deepens and JD.com will officially access Alipay payment]
CCTV News reporters learned from Taobao officials that starting today, consumers can use WeChat payment when shopping through Taobao. The reporter learned that Taobao and Tmall will soon be officially connected to JD Logistics, which is expected to be launched in mid-October. After that, Taobao merchants will have an additional JD Logistics option when selecting the delivery method of goods in the system. At the same time, JD.com will also connect to Cainiao Express and Cainiao Post – Cainiao’s self-operated express brand and parcel collection site respectively. In addition, JD.com will also officially access Alipay payment, which is expected to be launched on the eve of “Double 11”. Currently, when consumers place orders on JD.com, the default payment methods are JD.com Pay, Union Quick Pass, WeChat Pay, etc. It is reported that the two parties have reached an agreement on cooperation in logistics and payment.
[Chen Rui: Station B has launched a self-developed large language model to support the translation of hundreds of thousands of non-Chinese manuscripts every day]
Chen Rui, chairman and CEO of Bilibili, revealed in his speech the progress of Bilibili in the field of AI (artificial intelligence): Bilibili launched a self-developed large language model index and applied it to AI subtitles. At present, Bilibili has Chinese, English, Korean, Japanese, Thai and other languages. The center must continue to take advantage of the talent highland, globalization and AI technology. At present, Xpeng’s chip team has more than 200 people and has settled in the Shanghai R&D center. The Turing chip it developed “will be available soon.”
[Toyota’s global production in August decreased by 11.2% year-on-year]
Toyota Motor Corporation announced on the 27th that global production in August decreased by 11.2% from the same period last year to 709,571 units, a year-on-year decrease for the seventh consecutive month. Domestic production decreased by 22.2% to 185,680 units. The reasons include the suspension of production of three models including the “YARiS CROSS” due to certification violations, and the impact of this year’s No. 10 Typhoon “Shanshan”, which caused all 14 domestic factories to suspend operations in late August.
[Ming-Chi Kuo: The actual mass production time of Meta’s AR glasses Orion should be later]
Well-known analyst Ming-Chi Kuo pointed out that Meta Platforms’ internal product roadmap shows that the AR glasses Orion will be mass-produced as soon as 2027. However, since the EMS/NPI manufacturer has not been decided yet and many technical issues have been taken into consideration, the actual mass production time should be later. Before mass production of Orion, Meta may launch a lower specification version (such as using LCoS to replace Micro LED). Meta’s strategy is to continuously test and collect market feedback to quickly improve the product, rather than waiting until the product is perfect before releasing it. Orion is positioned to replace mobile phones and tablets, and its key selling point is the integration of AI and spatial computing.
Events worthy of attention during the US stock market time period (Beijing time)
September 27
21:30 Boston Fed President Collins (2025 FOMC Voting Committee) and Fed Governor Coogler delivered speeches
22:00 The final value of the University of Michigan Consumer Confidence Index in September/the final value of the one-year inflation rate expectation
September 28
01:00 Total number of oil rigs drilled in the United States for the week to September 27
01:15 Federal Reserve Board Governor Bowman participated in a discussion at the Alabama Bankers Association Bank CEO Conference
03:30 CFTC releases weekly position report