Nvidia and Microsoft invest $15 billion in Anthropic; Saudi Arabia's $1 trillion AI investment.

Upcoming US Economic Data Releases

The US Labor Department has announced the release schedule for several key economic indicators, including the CFTC weekly report and PPI data. A spokesperson confirmed that the department plans to publish the missing weekly initial jobless claims data from the government shutdown by Thursday.

Initial Jobless Claims Data

Ryan Honick, a spokesperson for the Labor Department, indicated that due to technical issues, the initial jobless claims data for the week ending October 18, showing 232,000 claims, was unexpectedly released early. The missing data will be published directly on the Labor Department's website without the usual accompanying press release.

PPI and Import/Export Price Index

The Labor Department also plans to release the PPI data for September on November 25 at 21:30 Beijing time, and the import/export price index on December 3 at the same time.

CFTC Reports

Additionally, the Commodity Futures Trading Commission (CFTC) will begin releasing trader position reports this week, with the first report expected early Thursday morning Beijing time. The CFTC will issue up to two reports weekly until January 23, when the release schedule will return to normal.

Saudi Investment in the US

Saudi Crown Prince Mohammed bin Salman has confirmed a significant investment in the US, agreeing to increase investments to $1 trillion, with an initial commitment of $600 billion.

Discussions on Chip Exports

During a meeting with former President Trump, discussions included potential announcements regarding chip export licenses. Trump expressed his desire to replace current Federal Reserve Chair Jerome Powell, indicating he believes he knows who the next chair will be.

AI Chip Sales to Saudi Arabia

Reports suggest that the US plans to approve the sale of advanced AI chips to Saudi Arabia's Humain, marking a significant step in US-Saudi relations in the AI sector. This approval is expected to be part of a broader agreement, with the US government showing a positive stance towards large-scale AI chip export applications.

US Treasury Bonds Held Overseas

In September, the total amount of US Treasury bonds held by foreign investors slightly decreased to $9.25 trillion from August's record high of $9.26 trillion. The decline was influenced by net selling and valuation changes.

Federal Reserve Warnings

Federal Reserve Governor Michael Barr warned that weakening regulatory measures could lead to significant risks accumulating within the banking system, potentially sowing the seeds for future crises.

Stock Market Performance

On Tuesday, major US stock indices continued their downward trend, with the Dow Jones falling 1.07%, the Nasdaq down 1.21%, and the S&P 500 decreasing by 0.83%. Notable declines were seen in large tech stocks, including Amazon and AMD.

Pinduoduo's Financial Warning

Pinduoduo reported Q3 revenue of 108.28 billion yuan, a 9% year-on-year increase, but warned of ongoing financial volatility due to increased support for merchants and ecosystem investments.

Baidu's AI Revenue Growth

Baidu's Q3 revenue reached 31.17 billion yuan, with AI business revenue growing over 50%. The company reported significant growth in its AI-driven marketing services.

Tesla's Autonomous Driving Approval

Tesla has received approval in Arizona to operate vehicles with its autonomous driving system, allowing the company to offer ride-sharing services in the Phoenix area.

Nvidia and Microsoft Investment in AI

Nvidia and Microsoft have announced a strategic partnership with AI startup Anthropic, committing up to $150 billion in investments to enhance AI capabilities.

Apple Sales Surge in China

Apple's sales in China surged by 37% in October, driven by the popularity of the iPhone 17 series, increasing its market share to 25%.

Hong Kong Stock Market Activity

On November 18, southbound funds net bought HK stocks worth 7.466 billion HKD, with Alibaba and Xpeng receiving significant investments.

Xiaomi's Strong Q3 Performance

Xiaomi reported a 22.3% year-on-year revenue increase in Q3, with adjusted net profit reaching a record high, driven by strong performance in its AIoT and electric vehicle segments.

Conclusion

The upcoming economic data releases and significant corporate developments highlight the dynamic landscape of the US and global markets, with implications for investors and policymakers alike.