Top News
Trump exaggerates Iran's difficulties, but analysts say Iran can still withstand the U.S. blockade.
U.S. President Trump stated on the 28th that 'Iran hopes the U.S.' will reopen the Strait of Hormuz as soon as possible. He wrote on social media: 'Iran has just informed us that they are in a state of 'collapse.' They hope we will 'reopen the Strait of Hormuz' as soon as possible. Meanwhile, they are working to address leadership issues (I believe they can achieve it!).' Multiple analysts pointed out that Iran still possesses sufficient countermeasures to mitigate the impact of the blockade on crude oil production. On the 28th, the deputy commander of the Islamic Revolutionary Guard Corps Navy stated that Iran has achieved absolute control over the Strait of Hormuz and is demanding tolls from passing vessels.
United States: Prohibits domestic individuals or entities from paying passage fees to Iran for the Strait of Hormuz
An explanatory document issued by the Office of Foreign Assets Control under the U.S. Treasury Department on the 28th stated that the U.S. prohibits its individuals or entities from paying safe passage fees for the Strait of Hormuz to Iran. The document said that U.S. individuals, U.S. financial institutions, and foreign entities owned or controlled by the U.S. must not directly or indirectly pay the Strait of Hormuz safe passage fees to the Iranian government or the Islamic Revolutionary Guard Corps. The Office of Foreign Assets Control noted that non-U.S. individuals or entities paying safe passage fees to Iran for the Strait of Hormuz could also face significant sanctions risks. Due to the relevant sanctions imposed by the U.S. on the Iranian government and the Islamic Revolutionary Guard Corps based on nuclear non-proliferation and anti-terrorism reasons, foreign financial institutions and other non-U.S. individuals or entities engaging in certain transactions or activities with sanctioned parties may face sanctions risks. Transactions involving certain sectors of Iran’s economy may also expose foreign individuals or entities to sanctions risks. On the same day, the Office of Foreign Assets Control added 17 foreign individuals and 18 foreign entities to the Iran-related sanctions list.
UAE exits OPEC; investment banks: limited short-term impact, medium-term downside risk for oil prices.
Hours after the UAE announced its formal exit from OPEC effective May 1, Wall Street began assessing the impact on energy markets in the coming weeks and months. Analysts at JPMorgan, UBS Group, and Bloomberg were highly consistent in their core assessments: in the short term, $Brent Crude Oil (Cash) Futures Main Contract (2607) (BZmain.US)$ significant volatility is unlikely to occur because the blockade of the Strait of Hormuz remains the primary bottleneck constraining Gulf energy exports. However, once the U.S. and Iran reach a peace agreement and shipping through the Strait of Hormuz returns to normal, the UAE will be free to expand production outside OPEC's quota system. At that point, global crude oil supplies will face a new wave of shocks, further weakening OPEC's ability to support prices, and Brent crude oil prices will face increased downside risks as Gulf exports normalize.
Senior U.S. Senator Tillis: It is reasonable for Powell to remain temporarily after his term ends, though not indefinitely.
Thom Tillis, a prominent Republican senator from North Carolina, stated that he understands why Federal Reserve Chair Powell would want to remain briefly on the Fed's Board of Governors after his term ends on May 15. His temporary continuation would allow time for two matters to conclude: one being the review of his construction projects by the Fed's Inspector General, and the other being the appeal filed by the U.S. Department of Justice regarding a federal judge's ruling invalidating a subpoena.
The New Fedwire: The Federal Reserve is expected to stay on hold this week, with the key divergence being whether it indicates a shelved rate cut or merely a postponement.
At 2 a.m. Thursday, the Federal Open Market Committee (FOMC) released its interest rate decision. In an article, Nick Timiraos wrote that the historical mirror of the 1970s stagflation no longer seems as distant as it did two years ago. The April meeting of the Fed marks a turning point for deeper debate: how long can the committee maintain its stance that 'the next move is more likely to be a rate cut than a rate hike'? Should the formal statement be revised to indicate that rate cuts are essentially off the table?
Latest U.S. polls show Trump's approval rating hitting a record low during his presidency.
A latest Reuters/Ipsos poll shows that US President Trump's approval rating has dropped to a new low during his current term, primarily due to rising living costs in the United States and tensions with Iran. This four-day nationwide survey in the US indicates that only 34% of Americans approve of Trump's performance, a decline from 36% in mid-April, and significantly lower than the 47% approval rating at the start of his term in January 2025. The poll highlights growing public dissatisfaction with economic issues, as only 22% of respondents approved of his handling of 'living costs,' down from 25% previously. Analysts believe that the conflict between the US and Iran, which has driven up energy prices, is one of the key factors contributing to inflation and rising living costs. The survey collected opinions from 1,014 American adults, with a margin of error of approximately ±3 percentage points. Most of the data was gathered before the shooting incident at the White House Correspondents' Association dinner.
U.S. stock market recap
All three major indices declined collectively, with the Nasdaq falling 0.9%, and stocks related to OpenAI facing pressure.
On Tuesday, all three major US stock indices fell collectively. By the close, the Dow Jones Industrial Average dropped 0.05%, the S&P 500 Index declined 0.49%, and the Nasdaq Composite Index fell 0.9%.
$Star Tech Stocks (LIST2518.US)$ Most stocks declined, with NVIDIA dropping 1.59%, Google C declining 0.29%, Apple rising 1.15%, Microsoft rising 1.04%, Amazon falling 0.52%, Broadcom falling 4.39%, Meta Platforms falling 1.07%, and Tesla falling 0.67%.
$Popular Chinese Concept Stocks (LIST2517.US)$ Most fell, with the Nasdaq Golden Dragon China Index dropping 0.49%. Kingsoft Cloud fell 6.27%, GDS Holdings dropped 4.96%, Futu Holdings fell 3.06%, and Xiaopeng Group fell 2.48%; Huazhu rose 2.13%, Nio rose 2.09%, and New Oriental Education rose 1.95%.
$Storage Concept Stocks (LIST23925.US)$ Overall declines were seen, with SanDisk falling 6.34%, Micron Technology dropping 3.86%, Seagate Technology falling 2.82%, and Western Digital declining 2.43%. However, after-hours trading saw a collective rebound following Seagate's earnings release, with Seagate surging nearly 16% and Western Digital rising over 8%.
Individual stock information
Seagate Technology's third-quarter financial results exceeded expectations on both revenue and earnings.
a hard drive manufacturer, Shares surged over 16% after-hours. Third-quarter revenue reached $3.11 billion, surpassing analyst expectations of $2.95 billion; adjusted earnings per share (EPS) were $4.10, above the anticipated $3.50; and adjusted operating margin hit 37.5%, exceeding the expected 34.8%.
NXP Semiconductors reported better-than-expected first-quarter 2026 revenue growth of 12% year-over-year, raising its second-quarter guidance amid a broad-based recovery across end markets, signaling accelerating demand momentum. First-quarter revenue reached $3.181 billion, an increase of 12% year-over-year, surpassing analyst estimates of $3.15 billion. Non-GAAP diluted EPS was $3.05, marking a 16% year-over-year rise. Driven by a one-time gain of $627 million from the sale of its MEMS sensor business, GAAP diluted EPS surged to $4.43, a significant jump from $1.92 in the same period last year.
$NXP Semiconductors (NXPI.US)$ Shares soared over 15% after-hours following the announcement of better-than-expected first-quarter 2026 results, with revenue growing 12% year-over-year across all end markets, alongside an above-consensus second-quarter outlook, reflecting accelerating demand recovery. First-quarter revenue reached $3.181 billion, up 12% year-over-year, surpassing the $3.15 billion consensus. Non-GAAP diluted earnings per share (EPS) increased 16% to $3.05. Boosted by a one-time $627 million gain from the sale of its MEMS sensor business, GAAP diluted EPS surged to $4.43, a substantial increase from $1.92 in the same period last year.
Robinhood reported revenue of $1.067 billion for the first quarter of fiscal year 2026, representing a 15% increase year-over-year.
$Robinhood(HOOD.US)$After-hours trading saw a decline of over 9%. Total revenue for the first quarter of fiscal year 2026 was $1.067 billion, marking a 15% year-over-year increase. Diluted earnings per share were $0.38 (compared to $0.37 in the previous period), reflecting a 3% growth. Net profit reached $346 million, up 3% year-over-year. Revenue from transaction-related activities amounted to $623 million, growing by 7%; net interest income reached $359 million, increasing by 24%; and other income totaled $85 million, surging by 57% year-over-year.
OpenAI refutes concerns about a growth slowdown, stating that both consumer and enterprise businesses are operating at 'full capacity.'
OpenAI failed to meet its 2025 revenue and user targets, reigniting market skepticism about AI investment returns. Stocks associated with 'OpenAI concepts' collectively came under pressure. SoftBank Group (ADR) (SFTBY.US) A single-day plunge of nearly 10%, CoreWeave (CRWV.US) 、 $Oracle(ORCL.US)$ 、 Advanced Micro Devices (AMD.US) and others closed collectively lower. The event highlighted the dilemma in AI capital expenditures: slowing down invites negative sentiment, while accelerating raises concerns about return on investment. Coupled with intensifying competition and uncertainties surrounding IPOs, the narrative of high AI investments is facing real-world scrutiny.
In response, OpenAI refuted the reports as inaccurate, emphasizing the continuous growth of its enterprise and advertising businesses. It also stated its commitment to pursuing greater computing power to enhance product experience for customers. CoreWeave responded by noting that its client base is diverse and expanding, now including Meta, Microsoft, Google, Anthropic, and other leading firms besides OpenAI. CoreWeave stressed that the demand for AI computing power is driven by the overall ecosystem expansion, with supply-demand gaps remaining a core narrative, and its fundamentals remain unshaken.
NVIDIA launches Nemotron 3 Nano Omni model
$NVIDIA(NVDA.US)$ Introduced the Nemotron 3 Nano Omni model, which integrates vision, audio, and language capabilities, enhancing the efficiency of AI agents by up to 9 times. It will be available on multiple platforms starting April 28.
Amazon launched an OpenClaw-like intelligent agent, intensifying its push into the enterprise software market.
$Amazon(AMZN.US)$ Released its self-developed OpenClaw-like desktop AI agent and launched several standalone AI services, officially stepping up efforts to capture enterprise software market share. This desktop agent represents a significant upgrade to Amazon's existing cloud service, Amazon Quick, capable of autonomously performing various office tasks such as drafting emails and retrieving personal data.
Additionally, OpenAI announced on Tuesday that its latest AI model and Codex programming assistant are now available on Amazon Web Services. The day before, the developer of ChatGPT had just adjusted its long-standing partnership with Microsoft. OpenAI also introduced a service allowing developers to leverage its cutting-edge models to build and deploy advanced AI agents on Amazon Web Services (AWS).
Apple plans to fully revolutionize photo editing features in iOS 27 this year, leveraging artificial intelligence.
$Apple(AAPL.US)$ The company is planning a major overhaul of the built-in photo editing functionalities on iPhone, iPad, and Mac, heavily utilizing artificial intelligence technology. Apple is developing a new suite of tools powered by its Apple Intelligence platform, including features such as 'Expand,' 'Enhance,' and 'Recompose.' By employing on-device AI models, users can expand, enhance, and recompose images, with processing typically taking only a few seconds.
Visa's adjusted net profit for the second fiscal quarter was $6.34 billion, a year-over-year increase of 17%.
$Visa(V.US)$ Shares rose nearly 5% after-hours. Net revenue for the second fiscal quarter was $11.23 billion, up 17% year-over-year; adjusted net profit was $6.34 billion, a 17% year-over-year increase; adjusted earnings per share were $3.31 compared to $2.76 in the same period last year.
Starbucks' net revenue for the second fiscal quarter was $9.5 billion, an 8.4% year-over-year increase.
$Starbucks (SBUX.US)$Shares surged over 5%. Second fiscal quarter net revenue reached $9.5 billion, representing an 8.4% year-over-year increase, surpassing estimates of $9.14 billion. Operating profit for the second fiscal quarter was $828.1 million, a 38% year-over-year increase, exceeding forecasts of $757.7 million. Same-store sales growth for the second fiscal quarter was 6.2%, higher than analysts' expectations of 3.65%. Starbucks now projects full-year same-store sales growth of at least 5%, revised upward from the previous forecast of at least 3%.
Top 20 by trading value
Hong Kong Market Outlook
Southbound capital invested over HK$14.5 billion in Hong Kong stocks, purchasing Xiaomi Group shares worth over HK$1.8 billion while selling Alibaba shares worth over HK$1.2 billion.
On Tuesday, April 28, southbound capital recorded a net purchase of HK$14.523 billion in Hong Kong stocks.
$Tracker Fund (02800.HK)$、$Hang Seng China Enterprises (02828.HK)$、$Xiaomi Group-W(01810.HK)$Net purchases amounted to HK$4.137 billion, HK$2.64 billion, and HK$1.809 billion respectively.
$Alibaba-W (09988.HK)$、Tencent (00700.HK)、Huahong Semiconductor (01347.HK)Net sell-offs totaled HK$1.251 billion, HK$1.132 billion, and HK$626 million respectively.
SF Express Q1 revenue increased by 6% year-over-year to RMB 74.1 billion, with net profit up 13% year-over-year.
In the first quarter,SF Holding (06936.HK)Revenue reached RMB 74.14 billion, representing a year-over-year increase of 6.1%; net profit attributable to shareholders was RMB 2.53 billion, up 13.0% year-over-year, with profit growth significantly outpacing revenue growth. The per-ticket revenue of the express delivery business rebounded year-over-year, while international business revenue grew by 8.2%, surpassing the growth rate of the core express business. The company cross-invested with J&T Express, advanced dual A+H share repurchase and equity incentive plans, and reduced its debt-to-asset ratio to 47.8%.
Zijin Mining plans to invest $1.5 billion in developing the La Arena copper mine in Peru.
A senior executive of ****jin Mining Group stated that the company is preparing to invest approximately USD 1.5 billion in expanding its La Arena mining area in Peru and increasing copper production in the South American nation while actively seeking new opportunities in Peru. Luo Yuchuan, CEO of La Arena Mining Company (controlled by Zijin Mining), noted that despite the 'rather unique' political situation in Peru, the company believes that the country maintains fiscal and financial stability and possesses crucial mining potential vital for industry investment. 'This is why we consider Peru a favorable country for mining investment and why we continue to look for other projects to develop.' Zijin Mining acquired the La Arena copper-gold mine at the end of 2024 and currently plans to extend the mine’s operational life by 19 years.
BYD Q1 revenue slightly exceeded expectations at RMB 150.2 billion but net profit fell 55% year-over-year due to foreign exchange losses.
In the first quarter,BYD (01211.HK)Revenue slightly exceeded expectations at RMB 150.2 billion, but net profit plunged 50% year-over-year to RMB 4.085 billion. Foreign exchange gains/losses swung from a gain of approximately RMB 1.9 billion in the same period last year to a loss, dragging down profits by about RMB 4 billion. Overseas sales surged over 50%, with the new model 'Tang' receiving over 30,000 pre-orders within 24 hours, signaling positive momentum. Operating cash flow dropped by 67%, while inventory and short-term borrowings both increased, and capital expenditures contracted somewhat.
Shenghong Technology: Q1 Net Profit of 1.288 Billion Yuan, Up 39.95% Year-on-Year
$Shenghong Technology(02476.HK)$The announcement stated that the company achieved revenue of RMB 5.519 billion in the first quarter of 2026, representing a year-over-year increase of 27.99%; net profit attributable to shareholders was RMB 1.288 billion, up 39.95% year-over-year. The change in performance was primarily driven by increased sales.
Today's Focus
Keywords: Google, Amazon, Microsoft, Meta Platforms, Changfei Optical Fiber, etc., earnings reports, U.S. EIA crude oil inventories
In terms of financial events, the U.S. EIA crude oil inventory for the week ending April 24 (in million barrels).
In terms of new stocks, $Shangmi Technology-W(06810.HK)$Officially launched.
In terms of performance, $Google-C(GOOG.US)$ 、 $Amazon(AMZN.US)$ 、 Microsoft (MSFT.US) 、 $Meta Platforms(META.US)$ will release earnings reports after the market close, $PetroChina(00857.HK)$ 、 Hong Kong Exchange (00388.HK) 、 Changfei Fiber Optic Cables (Stock Code: 06869.HK)、 GigaDevice (03986.HK)、 $Ganfeng Lithium (01772.HK)$、 $Sanhua (02050.HK)$ announced their financial reports.
Futubull AI Morning Reading:
The essence of investment is to recognize the true nature behind illusions, actively participate, and exit in a timely manner before the illusion collapses.
— George Soros
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