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Market Insights: Jan 9th, 2024

TraderKnows
TraderKnows
01-09

Multiple stocks fall more than 7%; new regulations for online gaming management; policies of the People's Bank of China.

Economics and Finance

  1. Stock Market Dynamics: The North Certificate 50 Index fell by more than 2%, with several stocks plunging over 7%. In the U.S., major indices moved higher during midday trading, with the Nasdaq Composite Index up by 1.2%.
  2. U.S. Federal Reserve Inflation Expectations: According to a survey by the Federal Reserve Bank of New York, the one-year inflation expectation in the U.S. has dropped to 3%, a three-year low. The President of the Atlanta Federal Reserve expects two interest rate cuts this year, despite inflation moving towards the 2% target. The Dallas Federal Reserve President mentioned that there might be a need to slow down the pace of reducing the Fed's balance sheet amid tightening financial market liquidity.
  3. Policy of the People's Bank of China: The People's Bank of China plans to reinforce counter-cyclical and cross-cyclical adjustments from volume, structure, and price perspectives, aiming to improve the quality and level of Renminbi internationalization. There are plans to strengthen the regulation of cross-border Renminbi business.
  4. Oil Price Dynamics: Oil prices stabilized in Asian trading following significant price cuts by Saudi Arabia for its oil sales to parts of Asia and Europe.
  5. Tokyo CPI Inflation Slows: Tokyo's Consumer Price Index (CPI) inflation slowed down in December, indicating that the Bank of Japan's annual target is nearing realization.
  6. Dow Jones Futures Trend: Dow Jones futures slightly dipped following the previous day's rise.

Technology and Innovation

  1. Bitcoin Spot ETF: Potential issuers of Bitcoin spot ETFs, including BlackRock and Ark, have submitted revised S-1 forms to the SEC. The SEC Chairman has cautioned investors about the risks associated with cryptocurrencies.
  2. New Nvidia Graphics Card: Nvidia has launched the GeForce RTX 40 Super series graphics cards, enhancing gaming performance and supporting over 500 RTX games and applications.
  3. Apple's AR Headset: Apple announced that its Vision Pro headset will be available in the U.S. starting February 2, with pre-orders beginning January 19.
  4. New Regulations for Online Gaming: China's National Press and Publication Administration is soliciting public opinions on the "Draft Measures for Online Gaming Management," focusing on the regulatory supervision of the online gaming industry.
  5. Samsung's Profit Decline: Samsung Electronics reported a 35% decline in profits for the fourth quarter, mainly due to weak chip demand.

Transportation and Aviation

Boeing 737 MAX 9s Safety Issue: United Airlines discovered missing bolt parts during an investigation, leading the Federal Aviation Administration (FAA) to continue the grounding of Boeing 737 MAX 9 aircraft.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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