The three major stock index futures all rose, and Meta(META.US) and AMD(AMD.US) reached a $60 billion strategic alliance.

1. On February 24th (Tuesday) before the US stock market opens, the three major US stock index futures all rose. As of press time, Dow futures are up 0.23%, S&P 500 futures are up 0.15%, and Nasdaq futures are up 0.33%.

2. As of press time, Germany’s DAX index is down 0.08%, the UK FTSE 100 index is down 0.10%, France’s CAC 40 index is up 0.03%, and Europe’s Stoxx 50 index is down 0.07%.

3. As of press time, WTI crude oil is up 0.23%, at $66.46 per barrel. Brent crude oil is up 0.13%, at $71.20 per barrel.

Market News

Citrini’s “Dystopian Research Report” reshapes AI investment: “‘AI Doomsday Narrative’ in the US, Alpha in Asia’s Computing Power Chain.” Citrini Research recently released the impactful “2028 AI Doomsday Prophecy” — a comprehensive vision of a dystopian AI future shaped by artificial intelligence. The institution predicts that by 2028, despite global AI productivity surpassing expectations, the complete disruption of white-collar employment will cause a “global economic plague,” triggering panic in financial markets worldwide. From software and wealth management to logistics, many market sectors are experiencing panic selling due to this “2028 AI Doomsday Report.” Investors are increasingly worried about the performance impact of AI agents like Claude Cowork and OpenClaw, adopting a “shoot first, ask questions later” selling mode.

AI “Horror Stories” again shake US stocks: a hypothetical scenario set in 2028 sparks panic, with IBM plunging to a 25-year low. On Monday, AI “panic trading” erupted again amid growing fears of AI’s disruptive power, dragging down stocks of delivery, payment, and software companies, and causing IBM (IBM.US) to record its largest single-day decline in 25 years. The sell-off was triggered by a pessimistic report from a small firm called Citrini Research over the weekend. The report outlined potential risks AI could pose to various global economic sectors, setting a hypothetical scenario in June 2028 where AI’s disruptive impact leads to mass white-collar unemployment, reduced consumer spending, loan defaults supported by software, and economic contraction.

“AI Disrupts Everything” sweeps the stock market—where is a safe haven? Goldman Sachs highlights the keyword: HALO. Goldman strategists say that stocks of tangible, heavy-asset companies are significantly outperforming the global stock market, as investors—including hedge funds and retail—seek safe havens to avoid the “AI disrupts everything” sell-off, turning their focus to heavy-asset, low-obsolescence stocks (Heavy Assets, Low Obsolescence). The “HALO effect” referenced in the report refers not to the psychological “halo effect,” but to companies whose value mainly derives from high-cost, long-lived physical assets, core capacities, manufacturing networks, or infrastructure.

Former President Trump’s new 10% global tariffs officially take effect, marking a phase of rebuilding the “tariff wall.” The new 10% global tariffs implemented by President Trump took effect Tuesday. The Supreme Court previously rejected his comprehensive tariff plan, and this new tariff marks a renewed effort by the White House to continue the trade agenda. Hours after the Supreme Court’s ruling last Friday, Trump signed an executive order authorizing a 10% import tax. He also threatened to raise this to 15%, but when the 10% tariff took effect early Tuesday in Washington, he did not issue an official order to increase the rate. A government official revealed that the White House is drafting a formal order to raise the global tariff rate to 15%, though the timeline for implementation has not been finalized.

Stock News

Home Depot (HD.US) Q4 revenue and earnings both beat expectations. Driven by steady demand, Home Depot’s key sales metrics exceeded forecasts, though the retailer also warned that macro challenges remain. The earnings report shows Q4 revenue of $38.2 billion, down 3.8% year-over-year but exceeding expectations by $1 billion; adjusted EPS was $2.72, beating forecasts by $0.20. For the quarter ending February 1, same-store sales for stores open at least one year increased by 0.4%, outperforming the average forecast.

Meta (META.US) and AMD (AMD.US) reach a $60 billion strategic alliance. The global social media giant Meta announced a groundbreaking strategic partnership with semiconductor leader AMD. According to official plans, Meta commits to purchasing up to $60 billion worth of AI chips and data center hardware from AMD over the next five years, aiming to build a solid computing foundation for its expanding AI empire. This move marks Meta’s shift from a mere hardware buyer to a deep strategic partner in the supply chain, delivering the largest single order in AMD’s history and signaling a transition from a “monopoly” to a “duopoly” in the AI chip market.

Apple (AAPL.US) is more confident in its Houston Mac Mini plan than in its Austin Mac Pro plan. Apple is expanding its factory in Houston to assemble Mac Mini desktops. Under pressure from the Trump administration, Apple pledged last year to invest $6 billion in the US over four years. Apple’s global procurement chief, David Tom, stated that this commitment also includes the purchase of over 100 million chips from TSMC’s Arizona factory this year.

Novo Nordisk (NVO.US) mid-term trial of potential weight-loss drug in China shows promising results, with nearly 20% weight reduction. Novo Nordisk’s experimental drug, authorized last year, demonstrated significant weight loss in a mid-term study in China, supporting the company’s efforts to find new products to sustain growth in the obesity market. The Chinese partner, United Laboratories International, reported that overweight and obese Chinese subjects taking the drug for 24 weeks lost up to 19.7% of their body weight, compared to an average 2% weight loss in placebo groups.

Amazon (AMZN.US) invests $12 billion in Louisiana data centers to support cloud computing and AI. Amazon announced Monday a $12 billion investment to build its first data center facilities in Louisiana, USA, to support its cloud and AI services. Major cloud providers in the US are competing for dominance, pouring trillions into data center infrastructure to boost computing capacity—crucial for AI development.

Important Economic Data and Event Preview

• 23:00 Beijing Time: US February Conference Board Consumer Confidence Index.
• 05:30 Beijing Time (next day): US API Crude Oil Inventories Change (in ten thousand barrels).
• 21:00 Beijing Time: Speech by FOMC voter and Chicago Fed President Goolsbee.
• 21:00 Beijing Time: Speech by FOMC voter and Atlanta Fed President Bostic at NABE’s 42nd Annual Economic Policy Conference.
• 22:00 Beijing Time: Boston Fed President Collins delivers opening remarks.
• 22:00 Beijing Time: Speech by FOMC voter and Atlanta Fed President Bostic.
• 22:10 Beijing Time: Fed Governor Waller speaks.
• 22:35 Beijing Time: Fed Board Member Lisa Cook speaks on AI.
• Next day, 00:00 Beijing Time: Apple holds its annual online shareholder meeting.
• Next day, 04:15 Beijing Time: Richmond Fed President Barkin and Boston Fed President Collins participate in a panel discussion.
• TBA: US President Trump delivers the State of the Union address.

Earnings Preview

• Wednesday morning: HPQ.US, HSBC.US
• Wednesday pre-market: Lowe’s (LOW.US)