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U.S. Stocks Mixed As Earnings Season Kicks Off 

U.S. Stocks Close Mix, NVIDIA Hits Record High For Fourth Day In A Row

The U.S. stocks saw a mix of gains and losses on Friday, capping a week where all three major indices posted overall increases.  

The fourth-quarter earnings season kicked off, drawing attention to financial reports from heavyweights like Morgan Stanley and Bank of America.  

Simultaneously, escalating tensions in the Middle East held investors’ focus, and the U.S. December Producer Price Index (PPI) hinted at a positive signal for decreasing inflation. 

Investors kept a close watch on geopolitical developments in the Middle East, notably after U.S. and U.K. airstrikes in Yemen. The strikes targeted Houthi forces, leading to a surge in oil prices. 

The fourth-quarter earnings season for U.S. stocks kicked off, with Delta Air Lines, BlackRock, Bank of America, Wells Fargo, JPMorgan Chase, and Citigroup among the companies announcing their financial results. 

U.S. Stocks

Fundamental Analysis: 

Tech giants displayed varied performances.  

Meta surged over 1%, Microsoft rose 1%, surpassing Apple’s market value.  

On the flip side, AMD and Intel slipped over 1%, NVIDIA fell 0.2%, Amazon declined by 0.36%, while Google A rose 0.4%.  

Tesla experienced a significant dip of over 3%, while Lucid saw a notable drop of 7.7%. 

Many Chinese concept stocks contributed to a 1.48% drop in the NASDAQ Golden Dragon Index.  

Baidu plummeted nearly 7%, and other stocks like Ideal Motors, XPeng, NIO,, Bilibili, Pinduoduo, Futu Holdings, Vipshop, and Weibo registered various degrees of decline.  

Alibaba, iQiyi, and Tencent Music witnessed slight declines, while NetEase recorded a modest increase. 

Technical Analysis:   

(S&P 500 Index, 1-day chart) 

Market Trends: 

  • Dow Jones fell by 118.04 points, a 0.31% decrease, closing at 37,592.98 points. 
  • Nasdaq dropped by 2.57 points, a 0.02% decrease, closing at 14,972.76 points. 
  • S&P 500 Index declined by 3.59 points, a 0.08% decrease, closing at 4,783.83 points. 

Hong Kong Stock Market

Fundamental Analysis: 

In the Hong Kong stock market, all three major indices fell on Friday.  

Notably, most tech-related stocks declined, with Baidu plummeting by 10%, Kuaishou falling nearly 3%, dropping nearly 2%, and Alibaba experiencing a nearly 1% decline.  

On the other hand, Meituan rose by 0.6%, and Tencent increased by 0.2%.  

New forces in the electric vehicle industry collectively declined, with XPeng Motors falling nearly 8%.  

Real estate stocks generally declined, but Longfor Group stood out with an 8% increase.  

Apple-related stocks were under pressure, with BYD Electronic falling nearly 5%. In the shipping sector, China Cosco Shipping surged over 8%. 

Apple-related stocks were under pressure, with BYD Electronic falling nearly 5%.  

On the news front, on January 15th, Apple China’s official website launched an event preview, announcing a “New Year Limited-Time Offer” from January 18th to 21st.  

Apple stated that by purchasing specified products with eligible payment methods, customers could save up to ¥800.  

Earlier, analysts at Jefferies, a Wall Street investment bank, reported that iPhone sales in China for the first week of 2024 declined by 30%. 

Technical Analysis:  

(Hang Seng Index, 1-day chart) 

Market Trends: 

  • Hang Seng Index (HSI) fell by 0.15%, closing at 16,219.55 points. 
  • Hang Seng Tech Index (HSTECH) dropped by 1.75%, closing at 3,410.06 points. 
  • Hang Seng China Enterprises Index (HSCEI.) declined by 0.64%, closing at 5,447.03 points. 

FTSE China A50 Index

Fundamental Analysis: 

A-shares’ three major indices opened with various decreases, but after an initial market dip, they rebounded and turned positive one after another.  

The Shanghai Composite Index briefly reclaimed the 2,900-point mark, but the morning market saw another decline, and the ChiNext Index turned green, closing with a decrease. 

Technical Analysis: 

(SSE Composite Index, 1-day chart) 

Market Trends: 

  • Shanghai Composite Index (SHCOMP) rose by 0.36%, closing at 2,892.28 points. 
  • Shenzhen Component Index (SZCOMP) fell by 0.01%, closing at 8,995.54 points. 
  • ChiNext Index (CHINEXT) dropped by 0.38%, closing at 1,754.5 points. 
  • SSE STAR Market 50 Index (SSE50) declined by 0.18%, closing at 776.97 points. 

Forward-looking Statements    
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Doo Prime has provided these forward-looking statements based on all current information available to Doo Prime and Doo Prime’s current expectations, assumptions, estimates, and projections. While Doo Prime believes these expectations, assumptions, estimations, and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond Doo Prime’s control. Such risks and uncertainties may cause results, performance, or achievements materially different from those expressed or implied by the forward-looking statements.     

Doo Prime does not provide any representation or warranty on the reliability, accuracy, or completeness of such statements. Doo Prime is not obliged to provide or release any updates or revisions to any forward-looking statements.    

Risk Disclosure
Trading in financial instruments involves high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding the investor’s initial investment could incur within a short period of time. The past performance of a financial instrument is not an indication of its future performance. Investments in certain services should be made on margin or leverage, where relatively small movements in trading prices may have a disproportionately large impact on the client’s investment and the client should therefore be prepared to suffer significant losses when using such trading facilities.

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While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.

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