Pre-market market trends
1. On Thursday, October 6 (Thursday) U.S. stock Before the market, the three major U.S. stock index futures rose and fell. As of press time, Dow futures fell 0.08%, S&P 500 index futures fell 0.01%, and Nasdaq futures rose 0.21%.
2. As of press time, Germany DAX index fell 0.01%, the UK FTSE 100 index fell 0.72%, France CAC40 index fell 0.24%, and the European Stoke 50 index rose 0.02%.
3. As of press time, WTI crude oil rose 0.17% to US$87.91 per barrel. Brent crude oil rose 0.12% to $93.48 per barrel.
Market news
The number of people who requested unemployment benefits in the United States to October 1st in the week from October 1 was 219,000, and the expected number was 203,000, and the previous value was 193,000.
EU will set a price limit for Russian oil. On the 5th local time, the EU approved the latest round of sanctions against Russia, including setting a price ceiling on Russian oil, which has attracted much attention from the outside world. However, in the EU, some differences remain in the new round of sanctions against Russia, and the outside world is also generally worried that sanctions will further aggravate economic and social problems such as high inflation and soaring energy prices in Europe. According to several European media citing internal EU news, EU member states reached a preliminary consensus on the new round of sanctions against Russia on the evening of the 4th local time, and approved a new round of sanctions against Russia on the 5th. The specific sanctions measures officially took effect on the 6th.
LME restricts Russian metal delivery, and industrial metals such as zinc and copper rise in response. It is reported that London Metal Exchange (LME) restricts the use of Russian Ural Mining and Metallurgical Co., Ltd. in metals in the delivery of metal products, and industrial metals rose. From now on, the metals from Ural Mining and Metallurgical Company and its Chelyabinsk zinc plant can only be shipped to LME's warehouse if the shipper can prove to LME that it does not violate sanctions against Russia.
US refiners and the Biden administration are playing against the oil export ban. According to reports, the U.S. Department of Energy urges refiners to pay more attention to the construction of domestic gasoline and diesel stocks in the United States and reduce their attention to exports, otherwise local governments may consider taking "emergency measures." In response, The American Petroleum Society and the American Association of Fuel and Petrochemical Manufacturers said in a joint letter that last week's discussion "raised serious concerns about the possible ban or restrictions on refined petroleum products by local governments", which would disrupt the energy market, hinder investment in the oil industry, cut ties with European allies when needed, strengthen Russia's strength as an energy exporter, and raise domestic fuel prices.
European Central Bank meeting minutes show that most members expressed a tendency to increase by 75 basis points. ECB meeting minutes show that some members expressed a tendency to raise the ECB's key interest rate by 50 basis points, while 25 basis points hikes of are obviously not enough. Most members expressed a tendency to raise the European Central Bank's key interest rates by 75 basis points. Most people believe that interest rates are still "significantly" below neutral levels. European Central Bank chief economist Lian En said price pressure is very high, inflation pressure is unlikely to weaken on its own, and price pressure may continue.
recession clouds were shrouded, and euro zone retail sales in August unexpectedly fell 2.0% year-on-year. According to data released by the European Statistics Office on Thursday, retail sales in the euro zone fell 0.3% month-on-month in August, with market expectations falling 0.4%; retail sales fell 2.0% year-on-year, with market expectations falling 1.7%. This shows that consumer demand in the euro zone is weak and markets are concerned that the recession is coming.
Fitch: Maintains its "AA-" credit rating for the UK, but downgrades its rating outlook to negative. Fitch said the announced large and unfunded fiscal plan as part of the new government's growth plan could lead to a significant increase in the UK's medium-term fiscal deficit. The lack of independent budget forecasts, and a clear conflict with the Bank of England's anti-inflation strategy, "has negatively impacted the confidence of financial markets and the credibility of policy frameworks, which are key rating advantages in the long term." Fitch said, “Although the government has revoked the cancellation of the maximum income tax rate of 45% … the government’s weakened political capital could further undermine the credibility and support for the government’s fiscal strategy."Fitch noted that the average inflation rate in the UK will rise to 8.9% in 2022 and then gradually drop to 4% in 2024. Despite the government's announcement of energy tariff support and proposed tax cuts, Fitch still expects the UK economy to shrink in 2023.
stocks news
Peloton(PTON.US) 500 jobs are laid off, making the final effort to transform. Peloton reportedly announced to employees on Thursday that it would cut about 500 jobs, accounting for about 12% of its surplus workforce, the company's fourth round of layoffs this year as it tries to reverse growing losses. The layoffs will reduce Peloton's number of employees to about 3,800, less than half of last year's peak, with the biggest layoffs being the marketing department. CEO, who took office in February this year Barry McCarthy said he left about six months for the unprofitable company to turn things around significantly, and if it fails, Peloton is likely to not survive on its own. McCarthy said the latest layoffs mark Peloton's last major move to reduce its operating footprint, and executives will now focus on increasing revenue.
Creditsin (CS.US) is considering bringing outside investors into investment banking business L3 spin-off. It is reported that Credit Suisse intends to allow an outside investor to hold part of its equity, injecting funds into the plan to split investment banking business to help pay the cost of recruiting and retaining talents. At present, the leadership of Credit Suisse Group is preparing to complete the planned comprehensive reform. Negotiations on restoring the name of "First Boston Bank" for the divested business are also ongoing.
news said that Musk wanted to lower the acquisition price by 30%, but was Twitter (TWT R.US) refused. people said Musk tried to lower the acquisition price before Tesla CEO O Elon Musk announced that he would continue to fulfill the $44 billion acquisition of Twitter, but was rejected by Twitter. The people said Musk's representatives had repeatedly approached Twitter in the weeks before the announcement of continuing to acquire Twitter, hoping to re-enter the acquisition at a lower price. Three of the people said Musk's initial discount was as high as 3 0%, which means the acquisition price will drop to about $31 billion from the previous value of about $44 billion, but Twitter rejected the proposal. Over the past week, Musk narrowed the discount to about 10%, which is to acquire Twitter for $39.6 billion. But in the end, the bargaining between the two sides has made no progress. As of Wednesday, Twitter (TWTR.N) has a market value of about $39.2 billion.
Ford Motor (F.US) will raise the F-150 again Lightning truck starting price. Ford will raise the starting price of its all-electric truck for the second time in recent months. The company said the new price tag for the 2023 F-150 Lightning Pro is $51,974. It is expected that this price increase will only affect the Pro models that are the most affordable configuration level. Customers who have placed orders with Ford Motor will not be affected by this price increase. Ford raised the price of all models of F-150 Lightning trucks in early August, less than four months after the company began offering the pickup to dealers. At the time, the F-150 Lightning Pro was priced at $46,974.
Important economic data and event preview
Beijing time 22:30 US EIA natural gas inventory changes (billion cubic feet)
Beijing time 23:50 Bank of Canada Governor McClum delivered a speech at the Halifax Chamber of Commerce.
Beijing time the next day 01:00 2023 FOMC vote committee and Chicago Fed Chairman Evans delivered a speech.
Beijing time the next day 05:00 Feder Director Waller made a speech on the outlook for the US economy
