On October 6th local time, European and American stock markets fell collectively, with the Dow Jones Industrial Average and S&P 500 index both falling by more than 1%. Chinese stocks listed in the United States fell most of the time, Juhao Mall fell more than 45%, and Ideal Auto fell more than 12%. Due to the continued impact of the news, Twitter closed down more than 3%, and rose 3% after the market. The energy sector stands out, with international crude oil prices rising for four consecutive days. Investors are waiting for the September US non-farm employment report to be released.
Comprehensive Xinhua News Agency . CCTV News reported that Russia said it was blocking Ukraine's southern offensive, while Ukraine said it controlled multiple settlements. Ukrainian President Zelensky held talks with International Atomic Energy Agency Director-General Grossi . In addition, the Ukrainian Armed Forces Commander-in-Chief Zalugene spoke with the Chairman of the Joint Chiefs of Staff Mili .
European and American stock markets fell across the board
On October 6th local time, the three major U.S. stock indexes closed down across the board. Wind data shows that as of the close, the Dow Jones Industrial Average fell 1.15% to 29,926.94 points, the S&P 500 fell 1.02% to 3,744.52 points, and the Nasdaq fell 0.68% to 11,073.31 points.
Image source: Wind
Most of the popular Chinese stocks fell, Juhao Mall fell by more than 45%, Singularity fell by more than 12% in the future, Hongen and Youdao fell by more than 8%, Hutchison Pharmaceuticals and Huadi International fell by more than 7%, Daquan New Energy fell by more than 6%, Jinko Energy fell by more than 4%; in terms of increase, Han Guangsha Real Estate rose by more than 161%, Yingxi Group rose by more than 28%, Jinyang Education rose by more than 13%, Lixiang Education rose by more than 11%, Zhongyang Finance rose by more than 10%, and Eastern Airlines rose by more than 5%. Chinese new energy vehicle stocks fell across the board, with Ideal Auto falling by more than 12%, NIO falling by more than 7%, and Xiaopeng Motors falling by 4%.
U.S. stocks large tech stocks most fell, Apple , Amazon , Google , Microsoft all fell, but the decline was less than 1%; Netflix rose by more than 1%, and Facebook rose slightly.
US energy stocks rose collectively, Occupy Oil rose by more than 4%, ExxonMobil and Schlumberger rose by more than 2%, and Chevron and ConocoPhillips rose by more than 1%.
US banking stocks fell across the board, with Morgan Stanley and Wells Fargo falling more than 2%, JPMorgan , Goldman Sachs, Citi and Bank of America all falling more than 1%.
European stocks closed down across the board, German DAX index fell 0.37% to 12,470.78 points, French CAC40 index fell 0.82% to 5,936.42 points, and the UK FTSE 100 index fell 0.78% to 6,997.27 points.
Twitter reversed and rose sharply after the market
On October 6th local time, Twitter closed down more than 3%.
Image source: Wind
There has been news that a judge of the US Delaware Court of Equity announced that the trial of Musk's acquisition of Twitter was suspended until October 28. By October 28 (17:00 ET), Musk must complete the merger and acquisition. If the transaction is not completed by then, the Equity Court will arrange a November trial date. Affected by this, Twitter's U.S. stock market rose 3% after the market closed.
Twitter also said that it looks forward to completing Musk's acquisition transaction before October 28.
Previously, it was reported that on October 6 local time, Twitter said that Musk should (now) arrange to complete the acquisition transaction on October 10. But Musk refused to make a commitment on any potential closing date. It is also reported that Musk and Twitter's negotiations to reach an agreement on a $44 billion acquisition are at a deadlock, partly because Musk said that closing the deal depends on whether he can obtain $13 billion in debt financing. The original agreement did not include this condition.
In addition, according to court documents, Musk expressed his willingness to complete the acquisition of Twitter transaction at $54.20 per share on October 28.
Federal Officials continue to put "eagle"
The number of first-time unemployment claims in the United States last week announced on Thursday rebounded beyond expectations and was still at a historical low. Following the "small non-farm" ADP private sector employment growth announced on Wednesday, it once again showed that despite the Fed's radical hikes in rate , the US labor market is still strong and has not yet sent a signal that supply and demand in this market is more balanced.
At the same time, Fed officials continued to send hawkish signals, emphasizing the need for further interest rate hikes to suppress inflation.Federal Reserve Director Waller said that the U.S. economy will grow below the trend level in the second half of 2022. The labor market is very tight. Friday’s jobs report may not change the Fed’s view that it should be 100% focused on reducing inflation. Inflation is too high and unlikely to drop anytime soon.
Waller said he supported continuing interest rate hikes until the Fed saw meaningful and sustained progress in U.S. inflation. The Fed has not made meaningful progress on the inflation issue. Monetary policy can and must be actively used to reduce inflation. It is expected that interest rates will be raised early next year. It is not considered slowing down or stopping rate hikes due to concerns about financial stability.
Federal Director Cook said that restoring price stability may require continuous interest rate hikes, and then implement restrictive interest rate policies for a period of time; restrictive policies need to be maintained until there is confidence to stabilize inflation at 2%; fully support the decision to raise interest rates in the past three FOMC meetings; the implementation of restrictions can be implemented faster, which may curb inflation expectations. This preemptive approach is appropriate.
Federal Chicago Fed Chairman Evans also said that monetary policy needs to be more restrictive because the inflation rate is high; further interest rates are needed. The Fed is moving towards the 4.5%-4.75% interest rate rate, which is likely to reach it next spring. He believes that balance sheet reduction will be completed within three years; the Federal Reserve will discuss whether to raise interest rates by 50 basis points or 75 basis points at the next meeting; policy makers expect the rate hikes in the next two meetings to be 125 basis points.
analysts said that although Fed officials repeatedly sent hawkish signals, U.S. stocks did not repeat the sharp drop like last week. Before the September US non-farm employment report was released this Friday, the stock market was volatile, and investors were waiting for heavy employment data, hoping to find signs of economic weakness, which prompted the Fed to slow down the pace of aggressive interest rate hikes.
International oil prices have been positive for four consecutive days
Commodity In terms of international oil prices, international oil prices have risen across the board, with ICE WTI crude oil futures contract rising 1.38% to US$88.04/barrel; ICE Brent Oil crude oil futures contract rising 1.59% to US$94.85/barrel, both achieving four consecutive positives in the daily line.
Image source: Wind
After OPEC+ decided to jointly reduce production by 2 million barrels per day on Wednesday, international crude oil prices continued to rise, but the increase was significantly lower than the previous three trading days.
International precious metals futures generally closed up, COMEX gold futures rose 0.01% to $1,720.9/oz, and COMEX silver futures rose 0.71% to $20.69/oz.
London base metals closed mixed. Among them, London Metal Exchange copper futures fell 1.57% to US$7559/ton, LME zinc futures rose 0.54% to US$3060.5/ton, LME nickel futures rose 0.7% to US$22745/ton, LME aluminum futures fell 1.02% to US$2328/ton, LME tin futures fell 1.8% to US$19925/ton, LME lead futures fell 0.66% to US$2023/ton.
news, there are reports that the London Metal Exchange has issued discussion documents on whether to ban Russian metal products trading. The London Metal Exchange asked the market to provide feedback on issues regarding Russian metal products trading by October 28.
Russia said it would block the offensive in the southern Ukrainian line
Ukrainian said it would control multiple settlements
Russia reported on the 6th that the Russian army counterattacked the Ukrainian army in Khlsong , and the Ukrainian army's attack in the local area had stopped. Ukrainians said that the Ukrainian army regained control of multiple settlements in Luhansk and Khlsson.
On the eastern front, Russian Ministry of Defense spokesman Konashenkov reported on the 6th that the Russian army and local armed forces controlled the Zaitzevo town of Donetsk in the past day, and also attacked multiple Ukrainian military targets in Kharkiv and other places. The Russian Aerospace Forces shot down an MiG-29 and a Su-24 fighter jet of the Ukrainian army in Donetsk.
The General Staff of the Ukrainian Armed Forces stated on the 6th that the Ukrainian army repelled the Russian attack in Bachmut and surrounding areas and in western Donetsk in the past day. In Lugansk, the local military and political head of Ukraine said on the 5th that the Ukraine army has launched a counterattack in the local area and has re-controlled 6 settlements so far.
On the southern front, Khlsong Military and Civilian Government reported on the 6th that the Russian army fought back against the Ukrainian army in Khlsong, and the Ukrainian army's attack in the northern region of Khlsong has stopped outside the Russian defense circle. The Ukrainian Southern Operations Command stated on the same day that since early October, the Ukrainian army has advanced 20 kilometers in multiple directions in the Khlsong front line, controlling several settlements in the northeast of Khlsong.
The French government announced an energy conservation plan to deal with the energy crisis
In order to deal with the increasingly severe energy crisis, the French government launched a national energy conservation plan on the 6th, calling on the whole country to take active actions to avoid the risk of energy supply suspension in winter.
On the same day, French Prime Minister Borne led several ministers to announce this energy-saving plan at the Porte de Versailles Exhibition Center in Paris, covering multiple aspects such as public administration, economic fields and family life. In his speech, Borne pointed out that the conflict between Russia and Ukraine has exacerbated the energy crisis, and the whole of Europe is facing severe challenges of shortage of energy supply and rising prices in winter. If France does not take national energy-saving actions, it will face the risk of energy supply being shut down in winter. The purpose of launching a national energy-saving plan is not to reduce production and affect economic development, but to reduce unnecessary energy consumption and ultimately achieve the goal of reducing national energy consumption by 10% in the next two years.
According to this energy-saving plan, the heating temperature for residential, educational institutions, offices and places open to the public shall not be higher than 19 degrees Celsius in winter, restaurants, gymnasiums and other places shall drop to 17 degrees Celsius when there are no customers, and the air conditioning temperature in summer shall not be lower than 26 degrees Celsius. Except for airports, railway stations and subway stations, all lighting advertisements will be prohibited from the whole country from 1:00 to 6:00; remote work will be encouraged through financial support to reduce gasoline consumption caused by travel; shared carpooling is encouraged, and the maximum speed of public service vehicles on highways will be reduced from 130 kilometers per hour to 110 kilometers per hour, etc. The government also plans to accelerate the popularization of building temperature automation control systems to reduce energy waste.
The energy-saving plan also calls on the French to reduce hot water shower time, completely turn off electronic devices in standby mode at night, and arrange the use of some high-energy-consuming equipment to peak electricity consumption.
French President Macron html at an entrepreneurs' meeting held in Paris on the morning of the 26th also called on France to take action and reduce energy consumption by 10% compared with the past to overcome the difficulties of the energy crisis this winter.
British Prime Minister: The current energy status of the UK
is better than many European countries
0 On October 6, local time, British Prime Minister , who was attending the first meeting of the "European Political Community" in Prague, Czech Republic, in an interview with the media that attending the first meeting of the "European Political Community" held by , the European Union , was to cooperate with European partners, and also to solve the "common problems" such as energy crisis and immigration.
Speaking of the British economy, Tras said that the UK faces a "very difficult economic situation." Regarding UK National Grid warning that UK households may encounter power outages this winter, Tras said, "We are working to ensure energy security." Tras said that the UK and European partners are interconnected and are committed to ensuring more supply of natural gas and , as well as developing nuclear and wind power industries to avoid falling into the energy dilemma again.
Tras also said that the current energy situation in the UK is better than that of many European countries and "can survive the winter."
Zelensky met with the Director-General of the International Atomic Energy Agency
On the 6th local time, Ukrainian President Zelensky held talks with Grossi, Director-General of the International Atomic Energy Agency who visited Kiev . The two sides discussed the issue of Zabolo thermonuclear power plant . Zelensky said that in order to ensure the safety of the Zaporo thermonuclear power plant, the complete demilitarization of the location of the nuclear power plant should be achieved.
Grossi said at a press conference after the meeting that the International Atomic Energy Agency will take measures to avoid nuclear accidents at the Zaporo Heat Nuclear Power Plant and plans to increase the organization's staff at the nuclear power plant from two to four.
Grossi also posted on social media that progress has been made in the establishment of a safe zone between Russia and Ukraine on the Zaporo Thermal Power Plant.After ending his trip to Kiev, Grossi will also go to Moscow to meet Russian officials.
