Nvidia(US:NVDA) Soochow Securities·2025-06-04 00:05Group 1 - The report indicates a divergence between developed and emerging markets, with developed markets rising by 1.6% while emerging markets fell by 1.2% during the week [5][11] - The U.S. stock market is expected to experience a short-term upward trend driven by improving "hard" economic data and reduced sensitivity to tariff dynamics [2][3] - Nvidia's earnings report exceeded expectations, highlighting its dominant position in the AI revolution, with Q1 revenue up 69% and Q2 guidance aligning with Wall Street expectations [1][5] Group 2 - The U.S. Treasury market shows strong overseas demand, with a notable auction for 5-year bonds indicating a bid-to-cover ratio of 78.4%, the highest in history for this maturity [4][6] - The report suggests that long-term U.S. Treasury yields may face upward pressure in the short term but are likely to trend downward in the medium to long term due to concerns over U.S. fiscal sustainability [6][13] - The report notes that the U.S. consumer confidence index rose by 12.3 points to 98, marking the largest monthly increase in four years, which may support market sentiment [2][3] Group 3 - The Hong Kong stock market, represented by the Hang Seng Index, declined by 1.3% with ongoing external risks and uncertainties surrounding tariff negotiations [7][15] - The report highlights that global gold ETFs saw a net inflow of $8.23 billion into SPDR Gold Trust, indicating increased institutional and retail interest in gold [23][30] - The report emphasizes that the technology sector saw the highest net inflow in global stock ETFs, while healthcare experienced the largest outflow [31][32]