Top News
Before the market opened on Wednesday, the Nasdaq index achieved a ten-day consecutive rise, and the S&P 500 Index approached its all-time high. After a significant rebound, the market is now awaiting new variables to emerge. The three major U.S. stock index futures experienced mild fluctuations. As of the time of writing, Dow Jones futures were down 0.03%, Nasdaq futures dropped 0.03%, and S&P futures rose 0.01%.
$Star Tech Stocks (LIST2518.US)$Pre-market trading showed mixed results. $Broadcom (AVGO.US)$ rose nearly 3%, $ASML Holding(ASML.US)$ Fell more than 1%.
$Popular Chinese Concept Stocks (LIST2517.US)$ Most stocks fell before the market opened. Xpeng Group (XPEV.US)Down more than 1%, $JD.com(JD.US)$、 $Baidu (BIDU.US)$、 $Nio(NIO.US)$ Fell more than 1%.
$Quantum Computing (LIST23644.US)$ Pre-market trading trended upward, $D-Wave Quantum(QBTS.US)$ 、 SEALSQ Corp(LAES.US) Increased by more than 9%, $Arqit Quantum(ARQQ.US)$ Surging over 8%, $IonQ Inc(IONQ.US)$ with gains exceeding 6%. $Rigetti Computing(RGTI.US)$ Up over 5%, $Quantum Computing(QUBT.US)$ Up over 4%.
$Nuclear Power (LIST2583.US)$ Active in pre-market trading, $Oklo Inc(OKLO.US)$ with gains exceeding 6%. $NuScale Power(SMR.US)$ Up over 5%, $NANO Nuclear Energy(NNE.US)$ Rose more than 3%.
$Storage Concept Stocks (LIST23925.US)$ fell in pre-market trading, $SanDisk (SNDK.US)$ 、 $Micron Technology(MU.US)$ Dropping more than 2%, $Western Digital (WDC.US)$ Fell more than 1%.
Individual Stock News
The U.S. SEC approved a plan to lift intraday trading restrictions for investors.
$Robinhood(HOOD.US)$ Continued to rise nearly 7% in pre-market trading. According to Bloomberg, on Tuesday local time, the U.S. Securities and Exchange Commission (SEC) approved a plan to eliminate the current intraday trading margin requirement, which aims to comprehensively reform restrictions on intraday trading activities for small retail investors. The Financial Industry Regulatory Authority (FINRA) previously proposed revising the Pattern Day Trader Rule (PDT Rule). Under the original rule, if a trader's margin account assets were below $25,000, they could not make more than four intraday trades within five business days.
Four major events and earnings reports bombarding sequentially; Citi places Google on its bullish watchlist in advance
Citi issued a research report, adding Google-A (GOOGL.US) to its 90-day positive catalyst watchlist, reiterating a 'Buy' rating while raising the target price from $390 to $405. Analyst Ronald Josey stated that this adjustment was driven by favorable catalyst pathways across the company's core businesses. The watchlist is valid until July 13, during which a series of product launches and earnings announcements will occur. Citi highlighted that the 'Google Cloud Next' conference held from April 22 to 24 marks the first key milestone, followed by the Q1 earnings release on April 29, the YouTube Brandcast event on May 13, and the Google I/O Developer Conference from May 19 to 20. Additionally, Google Marketing Live is scheduled for May 20, concluding this busy five-week period.
Tesla successfully completed the tape-out of its AI5 chip
Following yesterday's 3.34% increase, $Tesla(TSLA.US)$ rose slightly by 0.36% in pre-market trading. Elon Musk congratulated the team on X platform, saying 'Congratulations' $Tesla(TSLA.US)$ The AI chip design team has successfully completed the tape-out of the AI5 chip. Development is also underway for the highly anticipated AI6, Dojo3, and other chips. The AI5 is expected to become one of the highest-production AI chips in history.
SNAP expects Q1 revenue to reach $1.529 billion, representing a year-over-year increase of 12%.
$Snap Inc (SNAP.US)$ Shares surged more than 8% pre-market following a sharp upward movement. Snap Inc expects revenue of $1.529 billion for the first quarter of 2026, representing a 12% year-over-year increase, with adjusted EBITDA at $233 million. Snap plans to cut its workforce by 16%, affecting approximately 1,000 full-time employees, as part of its drive toward profitability. Additionally, Snap’s newly established XR subsidiary, Specs, announced a multi-year partnership with Qualcomm for the upcoming AR glasses. Qualcomm has committed to supplying Snapdragon chips for future iterations. Both companies reiterated that Snap's next-generation Specs will be released 'later this year.'
Has the time come to invest in Microsoft after a deep correction?
Recently, Bernstein analyst Mark Moerdler issued a research report to clients stating that Microsoft (MSFT.US) the revenue growth rate of the Azure cloud platform is expected to accelerate over the next two quarters. This projection is based on the typical six-month cycle from hardware procurement to revenue generation, with the conversion point now approaching. He believes the current share price represents a reasonable entry point for new investors.
Going all-in on Robotaxis, Uber Technologies invests $10 billion
According to a report by the Financial Times, Uber Technologies (UBER.US) is betting over $10 billion on the Robotaxi sector, with funds allocated for equity investments and the procurement of autonomous vehicle fleets. This move marks a strategic shift from a lightweight platform model to a capital-intensive approach, which analysts have described as a 'complete narrative transformation.' Meanwhile, giants such as Waymo and others are bypassing Uber by building their own direct-to-consumer applications, emerging as strong competitors in the space. $Tesla(TSLA.US)$
Nike shares hit a 12-year low; Apple CEO Tim Cook shows support with another cash investment
Nike (NKE.US) Shares rose more than 2% pre-market. On April 10, Apple CEO Tim Cook purchased 25,000 Class B ordinary shares at prices ranging from $42.42 to $42.44 per share. Following this stock purchase, Cook directly holds 130,480 shares. According to another public disclosure, Nike President and CEO Elliott Hill purchased 23,660 Class B ordinary shares on April 13 at $42.27 per share, totaling approximately $1 million. After this transaction, Hill directly holds 265,247 shares.
The company's stock price once fell to a 12-year low, prompting the market to ask, "Is it done falling?" UBS Group provided a sobering answer: not yet. Three tough challenges lie ahead — the fashion business accounts for over 50% but needs to be scaled back, its brand's superpower of appealing to all demographics is being eroded by On, Hoka, and others, and returning EBIT to 10% looks more like a five-year uphill battle than a natural rebound. The target price of $54 has upside potential, but only if Nike first realigns the triangle of growth, branding, and profitability.
Surging demand for server CPUs supports earnings expectations, with Intel receiving an upgraded price target of $80 from investment banks ahead of its earnings release.
Recently showing strong momentum, $Intel (INTC.US)$ will announce its Q1 2026 financial results after the U.S. stock market closes on April 23, Eastern Time. Investment bank Susquehanna raised its price target for Intel from $65 to $80, citing 'unmet CPU demand.' This price target indicates an approximate 25% upside from the stock’s closing price of $63.81 on Tuesday. Analysts noted, 'Importantly, Intel stated that it cannot currently meet robust demand due to supply constraints expected to peak in Q1. However, the company anticipates these constraints easing in Q2, driving performance above seasonal levels for the remainder of 2026 (which we believe will primarily be driven by the server business).'
ASML Holding's Q1 net profit exceeded expectations, but its Q2 outlook fell short of expectations, with uncertainties from export controls incorporated into the full-year forecast.
$ASML Holding(ASML.US)$ Shares fell more than 3% in pre-market trading despite the company’s Q1 results surpassing expectations across the board, with an upward revision to its full-year sales guidance. However, the Q2 outlook was slightly below expectations. ASML Holding reported Q1 net sales of €8.77 billion and a net profit of €2.76 billion, both exceeding forecasts, with a gross margin of 53%. The company raised its full-year sales guidance to between €36 billion and €40 billion. Nevertheless, its Q2 outlook missed expectations, with projected net sales of €8.4 billion to €9 billion, lower than the anticipated €9.07 billion. The CEO stated that chip demand has now exceeded supply, prompting customers to accelerate expansion plans targeting 2026.
Global Macro
U.S. and Iran Agree in Principle to Extend Ceasefire? Trump Says War Nearing End
According to an Associated Press report on the 15th, mediators are nearing agreement on extending the temporary ceasefire between the United States and Iran and pushing for renewed negotiations. Sources indicated that both sides have 'agreed in principle' to extend the ceasefire agreement, set to expire on April 22, to allow for more diplomatic time. In an interview broadcast on April 15, U.S. President Trump stated that he believes the war with Iran is 'coming to an end,' but warned it could continue until the November midterm elections. Trump reiterated threats to attack Iran's civilian infrastructure but added, 'I hope it doesn’t come to that.'
According to Iranian state media, the Iranian Foreign Ministry spokesperson stated that communication through Pakistan with the United States continues. Since Iran’s delegation returned from Pakistan, multiple messages have been exchanged. Iran is likely to host a Pakistani delegation on Wednesday to continue talks with Pakistan. Discussions with Pakistan will address fully ending the war, lifting sanctions, and seeking compensation for damages caused by attacks on Iran by the U.S. and Israel. The Iranian Foreign Ministry spokesperson also noted that reports regarding the extension of the ceasefire remain unconfirmed.
Fed Chair Candidate Kevin Warsh Nomination Hearing Scheduled for Next Week
The U.S. Senate Banking Committee will hold a confirmation hearing for Kevin Warsh, Trump’s nominee for Federal Reserve Chair, at 10 a.m. Eastern Time on April 21. Senator Tim Scott, chairman of the Senate Banking Committee from South Carolina, said in an interview, 'We will hold the hearing next week, and Kevin Warsh will attend. We will discuss the economy, price stability, inflation, and the independence of the Federal Reserve.' Regarding this, U.S. President Trump stated, 'I hope Kevin Warsh will be confirmed as Fed Chair next week; interest rates may decrease after Warsh takes office; I do not plan to abandon the investigation into Powell; if Powell does not leave on time, he will be fired.'
Yellen: The Fed may still cut interest rates this year, and the candidate for chair may not “follow Trump’s orders”
Janet Yellen, former US Treasury Secretary and former Federal Reserve Chair, stated on Wednesday that she still believes it is possible for the United States to cut interest rates later this year, although fluctuations in oil prices triggered by the US-Iran conflict have cast a shadow over the policy outlook. According to Yellen, while the possibility of needing to raise interest rates cannot be entirely ruled out at this point, stable long-term inflation expectations suggest that the likelihood of a rate hike remains low. "I would guess that there could be a rate cut later this year. I think it's entirely possible and the most likely scenario. But many things are possible," she added. Yellen also anticipated that Kevin Warsh, Trump's nominee for Fed Chair, might “not follow Trump’s orders.” Warsh worked with Yellen at the Fed for six years, and she noted that given Warsh’s reputation as an “inflation hawk,” he might disagree with the President.
The largest 'tariff refund' in US history to officially launch system on April 20
The Trump administration plans to launch a system next Monday (April 20 EST) that will be used to refund $166 billion in tariffs to US importers, which were ruled "illegal" by the US Supreme Court in February. The US Customs and Border Protection has completed the first phase of developing new functionality for the customs clearance system, which will consolidate refund amounts, and importers will receive an electronic payment.
Top 20 pre-market trading volume stocks in the U.S.
Reminder of the US stock market macroeconomic calendar
(The following times are in Beijing Time)
20:30 Fed Governor Barr participates in a discussion on "Consumer Compliance Supervision and Regulation"
22:30 US EIA crude oil inventory for the week ending April 10 (in million barrels)
In the early hours of the following morning,
01:40 Fed Governor Bowman delivers remarks at the Institute of International Finance Forum
02:00 Fed releases Beige Book report on economic conditions
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Editor/KOKO