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Overnight, the Federal Reserve raised interest rates by 25 basis points as expected, ignoring the plight of the banking industry. In the view of Powell and other Federal Reserve officials, combating inflation is a top priority and primary responsibility, and lowering the inflation rate to the 2% baseline is the first goal. At the press conference, Federal Reserve Chairman Powell ruled out the possibility of an interest rate cut this year, and there will be at least one 25 basis point interest rate hike during the year. Judging from the dot plot, the interest rate cut cycle is expected to start next year. This diverged from market expectations, and all three major U.S. stock indexes closed down.  Source: TigerBroker Sister Yan believes that investors need to continue to observe the lagging impact on the U.S. macroeconomics after consecutive sharp interest rate hikes. Coupled with the European and American banking incidents, short-term market confidence is insufficient, which may lead to increased market volatility. At the same time, we must also be wary of similar bankruptcies of small and medium-sized banks. However, judging from the wording of last night's statement, the window for the Fed's interest rate hike cycle may soon close, meaning that it is now close to the end of the rate hike. Today, the Shanghai and Shenzhen stock markets fluctuated and closed higher, with chip computing power, gold 6G and other sectors leading the gains.； ChatGPT concept stocks continue to explode, and iFlytek hits the daily limit. Since the beginning of this year, the income of GPT-related equity funds has continued to rise. According to the Choice concept stock index, the index has increased by 58.69% since the beginning of this year, while the Shanghai and Shenzhen 300 has increased by only 5.29%.  Source: Choice According to Choice data, the industry distribution of the ChatGPT index concept compiled by Oriental Fortune is mainly composed of 19 companies in computer software (iFlytek, 360, etc.), 5 companies in marketing services (Threesome, etc.), and 5 companies in Internet services (Haitian Ruisheng, Kunlun Wanwei, etc.). Covering upstream, midstream and downstream manufacturers covering the AIGC concept.  Industry distribution of Dongcai ChatGPT concept index constituent stocks, source: Choice Thanks to ChatGPT, the stock price of NVIDIA, founded by Jen-Hsun Huang, known as the "Godfather of AI," has surged astonishingly this year. Its market value has reached US$659.5 billion, making it the sixth-largest company in the world by market value, surpassing Musk's Tesla and Warren Buffett's Berkshire Hathaway in one fell swoop. Obviously, ChatGPT has started an "arms race" in AI, and NVIDIA is the far ahead leader in this race. Jen-Hsun Huang said yesterday that generative artificial intelligence will reshape almost all industries. Sister Yan believes that after the United States has continuously raised interest rates sharply, the global economy is showing signs of slowing down, and coupled with the thunderstorms in the European and American banking industries, short-term market confidence is still insufficient. The main investment focus is still to look for equity funds that value high quality and have high corporate profit visibility. Another sector worthy of attention is gold. Affected by factors such as the collapse of the European and American banking industries, continued geopolitical tensions, and the gloomy global economic outlook, the price of gold continued to rise this month, once exceeding US$2,000 per ounce during the session. As gold stocks have risen sharply, 13 gold ETF-linked products have all recorded positive returns this year, with returns above 5%.  Cartography: Draw Lines and Invest in ResearchAmong them, Cathay Gold ETF, CCB Shanghai Gold ETF, Huaan Gold ETF, E Fund Gold ETF and Bosera Gold ETF ranked among the top five with a highest yield of 5.81%. Compared with other funds, gold ETFs are much smaller in size. The largest in the chart above is Huaan Gold ETF, which is 1.295 billion yuan, and the smallest is Harvest Shanghai Gold ETF, which is only 12.41 million yuan. After the collapse of FTX, something happened again in the currency circle! “Sun Ge smiled, life or death was unpredictable； Sun Ge was in trouble, and everyone praised him. ”  Source: Zhihu This is a short joke made by retail investors on the Internet to ridicule Justin Sun, the founder of the cryptocurrency platform Tron. Recently, Justin Sun, who is known as the "King of Hype" and is the most controversial one, has gotten into trouble. On March 22, the U.S. Securities and Exchange Commission (SEC) filed a complaint with the Manhattan District Court in New York, accusing Justin Sun and his related foundations of illegal sales of securities, fraud and market manipulation. The SEC stated in its press release that they are filing a complaint with the court against Justin Sun, the Tron Foundation, the BitTorrent Foundation, and BitTorrent (now known as Rainberry) for selling tokens such as tronix (TRX) and BitTorrent (BTT). The SEC believes that these are unregistered crypto asset securities, and further accuses Justin Sun of fraudulently manipulating the secondary market of TRX. The charges allege that Justin Sun tried to artificially increase TRX trading volume through false transactions. He asked his employees to conduct more than 600,000 TRX false transactions between the two crypto asset trading platform accounts he controlled. Approximately 4.5 million to 7.4 million TRX were traded through these virtual transactions every day. All TRX used in illegal transactions was provided by Justin Sun himself. His series of operations generated $31 million in illegal profits at the expense of other investors. In addition to Justin Sun himself, the SEC also charged eight social celebrities for allegedly participating in TRX and BTT promotions, inducing investors to buy TRX and BTT tokens, and concealing the fact that celebrities were paid for their tweets. These celebrities include actors Lindsay Lohan (Lindsay Lohan), Jake Paul, American rapper DeAndre Cortez Way, Lil Yachty, Ne-Yo, Akon and Michele Mason. Currently, in addition to Cortez Way and Mahone, others have agreed to pay $400,000 in disgorgement, interest and penalties to reach a settlement. After the news broke, TRON's TRX fell by more than 14% during the session, Huobi Exchange's platform currency HT also fell by 10%, and other tokens related to Justin Sun: Just (JST) and Sun Token (SUN) also fell by more than 6%.   Source: Binance & Huobi Sun Ge was in trouble, and everyone praised him. As soon as the news came out, social media was filled with applause. Justin Sun himself tweeted to defend himself, saying that the SEC's indictment against him and three of his companies "lacks basis", "the SEC is deliberately cracking down on celebrities in the currency circle", and "we will continue to build the most decentralized financial system." He said that the SEC’s digital asset regulatory framework is still in its infancy and needs further development. “This is no secret.”  Image source: Twitter Finally, Justin Sun did not forget to move closer to supervision. He said, "Given the important role that the cryptocurrency industry can play, we are eager to cooperate with governments and regulatory agencies around the world that are committed to establishing transparent supervision and cooperation standards." Justin Sun has always been a controversial figure in the currency circle. Many retail investors like to call him "Sun Cut" to express his ability to cut leeks faster than a sickle. The media "The Verge" compiled a series of his practices last year and believed that he had engaged in insider trading, money laundering and other improper conduct. Justin Sun responded at the time that the report was a false accusation and a fabricated story. |
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