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The company stated on its interactive platform that it has not yet engaged in any commercial spaceflight-related businesses.On January 20th, a research report from CICC pointed out that the recent accelerated appreciation of the RMB exchange rate is likely due to a seasonal increase in foreign exchange settlement demand in December. Increased corporate funding needs at the end of the year lead to a strong seasonality in foreign exchange settlement, typically accelerating in December and January. On average, from 2013 to 2024, the RMB/USD central parity rate is projected to appreciate by 0.5% and 0.8% in December and January respectively, with probabilities of appreciation of 75% and 67%. Beyond a trade perspective, we believe that assessing exchange rates should also consider the financial cycle perspective.1. US media: Dark Side of the Moons valuation rises to $4.8 billion. 2. US media: OpenAI plans to launch its first hardware device in 2026. 3. MiniMax CEO Yan Junjie attends Premiers symposium, becoming the second AI large-scale model company representative to participate. 4. Musk: AI5s dual-chip collaboration is equivalent to Nvidias Blackwell level. 5. Reports indicate TSMC will invest in building four more advanced packaging facilities in Taiwan this year. 6. Reports indicate SK Hynix completes process upgrade at its DRAM memory wafer fab in Wuxi, Jiangsu, China. 7. Shenzhou-20 spacecraft return capsule successfully lands at Dongfeng Landing Site. 8. New national standards for civilian drones, clarifying registration and activation procedures, are released. 9. Counterpoint: Apples iPhone shipments in China grew by 28% during the holiday season, regaining its number one market position. 1. European stock markets closed lower across the board. The German DAX index fell 1.34% to 24,959.06 points, the French CAC40 index fell 1.78% to 8,112.02 points, and the UK FTSE 100 index fell 0.39% to 10,195.35 points. Market concerns about weakening expectations of a Fed rate cut, weak European economic data, disappointing corporate earnings, and escalating geopolitical tensions fueled risk aversion. 2. The domestic bond market was generally weak and volatile. Most treasury bond futures closed lower, with the 30-year main contract down 0.22% and the 10-year main contract down 0.02%. Yields on most major interbank interest rate bonds rose by less than 1 basis point. 3. International oil prices rose across the board. The WTI crude oil futures contract rose 0.15% to $59.43 per barrel, and the Brent crude oil futures contract rose 0.08% to $64.18 per barrel. 4. All base metals rose in London. LME tin rose 3.87% to $49,840.0/ton, LME nickel rose 3.23% to $18,145.0/ton, LME copper rose 1.44% to $12,987.0/ton, LME aluminum rose 1.01% to $3,165.5/ton, LME lead rose 1.00% to $2,064.5/ton, and LME zinc rose 0.78% to $3,234.0/ton.January 20th - According to CNBC, citing sources, artificial intelligence startup Moonshot AI has increased its valuation by $500 million to $4.8 billion in its latest funding round. Just weeks ago, Moonshot AI was valued at $4.3 billion. The previous funding round was announced on December 31st, and IDG, Alibaba, and Tencent reportedly participated.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Retreat As Traders Focus On Recession Risks

Steven Zhao

Jan 19, 2023 17:42

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S&P 500 (SPX500)

S&P 500 found itself under pressure as traders reacted to the disappointing economic data.


Retail Sales declined by 1.1% month-over-month in December, compared to analyst consensus of -0.8%. Industrial Production declined by 0.7%, while Manufacturing Production decreased by 1.3%. Both reports missed analyst expectations.


The PPI report showed that Producer Prices declined by 0.5% in December. Treasury yields tested multi-month lows, as bond traders bet on a less hawkish Fed.


Lower Treasury yields did not provide any support to stocks as traders focused on recession risks. The pullback was broad, and all market segments moved lower. Consumer Defensive stocks were among the worst performers as Retail Sales data indicated that consumer activity was slowing down.

NASDAQ (NAS100)

NASDAQ  declined towards the 11,450 level amid a broad market sell-off. Leading tech stocks have found themselves under pressure, although Apple and Alphabet were almost flat in today’s trading session.


It should be noted that lower Treasury yields provided some support to the tech-heavy NASDAQ, which outperformed S&P 500 and Dow Jones.

Dow Jones (US30)

Dow Jones remained under strong pressure after yesterday’s sell-off. While Goldman Sachs made an attempt to rebound, other Dow Jones components were moving lower.


Honeywell, IBM, and Coca-Cola were among the biggest losers in the Dow Jones today. Currently, Dow Jones is trying to settle below the 33,500 level. In case this attempt is successful, Dow Jones will move towards the 50 EMA at 33,290.