US Sep. Payroll to Due Tonight, Property “Rumors” Spark Rally | Daily News Recap

1120 |Dolphin Research Key Focus:

🐬 Macro/Industry

1. The U.S. September non-farm payrolls will be released tonight. This is the first monthly employment report issued by the U.S. Bureau of Labor Statistics since the release of August data in September, filling the gap in official employment data caused by the previous government shutdown. The market generally expects an increase of 54,000 in non-farm payrolls for September, with the unemployment rate remaining at 4.3%. However, this data is significantly lagging, and the U.S. Bureau of Labor Statistics has clearly stated that it will not release the October non-farm report.

2. According to foreign media reports, "China is considering new real estate stimulus policies." Today, real estate stocks showed unusual movements, with the real estate sectors in both A-shares and Hong Kong stocks collectively rising. The rapid market reaction highlights the market's anticipation of a relaxation in real estate policies, but this policy rumor has not yet been officially confirmed.

🐬 Individual Stocks

1.$CATL(03750.HK)

On November 20, approximately 77.5 million H shares of CATL's IPO cornerstone investors will be unlocked. This is the largest release of tradable shares since its listing in Hong Kong in May. Currently, CATL's H shares have a premium of about 23% over A shares. The news of the unlocking has already led to a significant drop in the H share price, falling more than 6% intraday. Previously, the company's third-largest shareholder also conducted a large share transfer, further drawing market attention to the circulation of shares.

2.$Broadcom(AVGO.US)

Broadcom launched the Brocade X8 Director and other eighth-generation 128G SAN switch product combinations, the world's first of its kind with quantum security features. This product embeds SAN AI technology, enabling infrastructure management automation to optimize performance and defend against future quantum computer threats to sensitive data and critical infrastructure. It is mainly suitable for enterprise storage and modern data center scenarios. For Broadcom, it can strengthen its competitiveness in the semiconductor and infrastructure software fields and seize the market opportunity related to quantum security.

3.$AMD(AMD.US)

AMD, Cisco, and Saudi AI company Humain announced the establishment of a joint venture, planning to build up to 1 gigawatt of AI infrastructure by 2030, with construction starting in 2026. The first phase, with 100-megawatt capacity, will use AMD's GPUs and Cisco's infrastructure, and Luma AI has been signed as the first customer. AMD and Cisco can leverage the collaboration to expand the market for AI hardware and infrastructure, while Humain can accelerate the construction of Saudi Arabia's AI ecosystem by relying on the technology of giants.

4. Dolphin Research Focus on Earnings Reports and Conference Call Minutes

NVIDIA: "More Important than Non-farm! Can NVIDIA Save the U.S. Stock Market Again?", "NVIDIA (Minutes): Next Year's Target Gross Margin 75%, Cooperation with Open AI is Not Blind"

Kuaishou: "Kuaishou: Saying Goodbye to 'Rustic' Valuation, Still Relying on Keling", "Kuaishou (Minutes): Impact of Competition? Keling's Short-term Growth May Slow More Than Expected"

NetEase will release its earnings report tonight.

🐬 Leading Sectors

Shanghai and Shenzhen: Real estate services, precious metals and minerals, furniture/home manufacturers;

Hong Kong Stocks: Commercial printing, real estate services, cloud and data centers;

U.S. Stocks: Pharmaceutical retailers, heavy electrical equipment, precious metals and minerals.

🐬 Focus for Tomorrow

1. Miniso will release its earnings report.

2. U.S. S&P Global Manufacturing PMI preliminary value, U.S. S&P Global Services PMI preliminary value, U.S. one-year inflation rate expectation final value;

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