Market Overview - Moody's downgrade of the US sovereign credit rating from Aaa to Aa1 has raised concerns about US debt, leading to a rise in 30-year US Treasury yields to 5% [2] - The downgrade is attributed to the growing US budget deficit, which shows no signs of narrowing, and has triggered fears in the bond market [2][3] - US stock index futures fell following the downgrade, with the S&P 500 index futures dropping by 1.2% [3] Economic Policies - The Trump tax reform bill has advanced in the House of Representatives, with a key committee approving it, potentially leading to a vote later this week [4] - The bill is valued at several trillion dollars, but faces opposition from conservative Republicans who demand further cuts to Medicaid [4] - Goldman Sachs warns of a potential depreciation of the US dollar due to trade tensions and economic slowdown, predicting a 10% decline against the euro and 9% against the yen and pound by Q1 2025 [4] Investment Trends - Morgan Stanley suggests that investors should buy US stocks that have declined due to the credit rating downgrade, as the trade truce with China reduces recession risks [3] - Emerging market stocks are gaining attention from Wall Street investors, with predictions of a shift towards these markets for the next bull market, as they are expected to outperform US stocks in the coming years [5] Company Performance - Sohu reported Q1 total revenue of $136 million, with a net loss of $16 million, a reduction of over 20% year-on-year [6] - Niu Technologies achieved Q1 revenue of 682 million yuan, a year-on-year increase of 35.1%, with a significant rise in global vehicle sales [6] - Nvidia's CEO Huang Renxun announced new AI products at Computex, including the next-generation GB300 system set to launch in Q3 [7] - Apple is reportedly facing significant challenges in the AI sector, which could threaten its dominance in the smartphone market [8]