On Tuesday, Eastern Time, October 11th, although U.S. stock once tried to pull up in the early trading stage, under the impact of the U.S. CPI data being released soon and the Bank of England refused to extend the rescue project, long sentiment quickly collapsed in the late trading of . At the close, only the Dow rose slightly, and the Nasdaq, which fell more than 1%, fell into the technical bear market for the second time this year. As of the close, the S&P 500 index fell 0.65% to 3588.84 points; the Nasdaq index fell 1.10% to 10,426.19 points; the Dow Jones Index rose 0.12% to 29,239.19 points.
Due to the reckless fiscal tax cut policy by the British Tras government, the Treasury bond market has fallen into chaos, forcing the Bank of England to buy bonds and stabilize the market. But in the face of the British Pension Association's call for extending to rescue on Tuesday, Central Bank Governor Bailey also flatly responded on Tuesday that the market stabilization operation is not the monetary policy tool , but only provides a window for orderly selling assets. So for related funds, you have three days left, so hurry up and adjust the position .
The speech of the Bank of England governor also left many suspense and uncertainty to the market. Steve Sosnick, chief strategist at Interactive Brokers, explained that British Treasury bonds are currently one of the more fragile factors in the global financial market. The Bank of England also saved the global market when it stabilized British bonds at the end of September. It will naturally be a huge risk for them to let the British bonds fall.
Before the Bank of England withdraws from the rescue policy, the US CPI data on Thursday also had the potential to trigger a huge shock in the market. JPMorgan expects that if inflation data is higher than the previous month, the S&P 500 may experience a 5% drop in a single day.
On the market, most large technology stocks fell, Netflix fell nearly 7%, Facebook fell nearly 4%, Microsoft , Apple fell more than 1%, Twitter , Google , and Nvidia fell slightly.
Meta fell nearly 4% and announced the new VR helmet. On Tuesday (October 11), Meta held the VR annual conference "Connect 2022". At the meeting, the company announced its most important product - Meta Quest Pro.
Meta said that this headset is the company's most advanced product at present and is a new way to work, create and collaborate. The starting price of the product is $1,499.99 (about RMB 10,748) and will be officially shipped on October 28.
product introduction says this nearly $1,500 headset can achieve a breakthrough high-resolution mixed reality (MR). Compared with Quest 2, Quest Pro uses more advanced pancake lenses, and the optical stack is reduced by more than 40%; advanced VR LCD display technology not only increases the pixel density by 37%, but also has a 1.3 times color gamut of Quest 2.
Apple closed down 1.03%, with a turnover of US$10.72 billion. The union organization "Retail and Fast Food Workers Union" (RAFFWU), which represents Australian Apple employees, reportedly went on strike by a vote due to lack of progress in wage negotiations.
It is reported that RAFFWU said it plans to hold an hourly strike on October 18. The strike will involve 150 of Apple's 4,000 Australian employees, which will restrict most of Apple's Australian stores. Union members will also refuse to undertake 15 specific tasks, including receiving goods, installing screen protection, meeting with store owners, etc.
Intel and Google-A fell nearly 1%. It is reported that Intel and Google have launched new chips for data centers.
Nvidia closed down 3.36%, with a turnover of US$8.09 billion. Investment bank Wedbush pointed out that even if concerns about the downturn remain, companies related to the cloud computing and semiconductor industries still have "significant opportunities". Wedbush analyst Dan Ive pointed out that Intel, , Qualcomm, and Nvidia all position themselves as profiting from the transition to 5G.
chip stocks fell for 4 consecutive days. Philadelphia Semiconductor Index fell by more than 3%, closing down by 2.5%, and Micron Technology rose by more than 4%. AMD and Nvidia fell 3%, and then turned nearly 1% after falling, and finally closed down. Kelei Semiconductor fell more than 6%, Ram Research fell nearly 7%, TSMC's US stocks fell 6%, and its Taiwan stocks fell more than 8%, the largest single-day drop in history.
Leading the rise in technology stock list:
Leading the fall in technology stock list:
Popular Chinese stocks listed in the list most fell, Ctrip fell more than 11%. According to the "2022 National Day Holiday Tourism Summary Report" released by Ctrip, local tours, surrounding tours and short-distance tours are the mainstream tourism methods during this year's National Day holiday. During the 7th day of National Day, local and surrounding tourism orders account for 65%, and the per capita tourism expenditure in local surrounding areas increased by nearly 30% compared with last year's National Day.
report shows that the most popular local surrounding tours this year's National Day are concentrated in Shanghai, Beijing, Guangzhou, Hangzhou, Shenzhen, Nanjing, Chengdu, Chongqing, Changsha, Suzhou , Hefei, Wuhan, Ningbo , Xi'an, Jinan and other cities.
For other Chinese stocks, Daily Youxian fell by more than 15%, Bilibili fell by more than 7%, Baidu fell by more than 5%, Alibaba , Weibo , and Pinduoduo fell by more than 4%, NIO , Netease fell by more than 3%, JD , and Tencent Music fell by more than 2%. Shangmax Technology rose by more than 35%, Ideal Automobile, Yingxi Group, and Wuxin Technology rose by more than 3%, Zhifu Financing rose by more than 1%, and Manbang rose slightly.
leading the rise in Chinese stocks list:
leading the fall in Chinese stocks list:
Automobile sector, Tesla fell 2.90%, Morgan Stanley lowered Tesla's target price to US$350.
Ideal rose nearly 4% against the trend. Starting from January 1, 2023, Shanghai consumers who want to buy plug-in hybrid or extended-range new energy vehicles need to join the license plate auction army like the fuel car purchase group. Sales of many car brands say that it is the last time for plug-in hybrid models to place orders, and some models have stopped taking orders. Starting from January 1, 2023, if Shanghai consumers want to purchase plug-in hybrid or extended-range new energy vehicles, they need to join the license plate auction army like the fuel car purchase group.
However, the sales of the Ideal Experience Store told reporters that the policy has an impact but is not fatal. "Sales in Shanghai only account for 6% of the national sales share." According to sales, the Ideal L8, which was just launched before the National Day, has been scheduled for production in December, and now the car will not be mentioned at the earliest in early December.
However, Ideal L8 is still following the certification process for plug-in hybrid (including extended-range) models in Shanghai. Whether it can be used in the green license plate will not be known in November.
More auto sector rise and fall and market value ranking
The three major European stock indexes fell across the board on the same day. As of the close, the London stock market in the UK, the average price index of 100 stocks closed at 6885.23 points on the 11th, down 74.08 points from the previous trading day, a drop of 1.06%.
stocks , on that day, consumer stocks among the components of in London stock market led the rise, with the top five stocks in the top five stocks: the share price of commercial services company Nengduojie Company rose by 1.81%, the share price of consumer health company Haleon rose by 1.64%, the share price of Sainsbury Company rose by 1.30%, the share price of Tobacco Group Empire Brand Company rose by 1.05%, and the share price of Unilever rose by 0.91%.
The financial stocks led the decline on the same day, with the top five stocks in the declines: the stock price of online retailer Okado Group fell 5.32%, the stock price of British Fartong Insurance fell 5.18%, the stock price of financial services company Hargreaves Lance when the stock price fell 4.94%, the stock price of Port Energy fell 4.38%, and the stock price of Aviva Insurance Group fell 4.17%.
The other two major stock indexes in Europe, the Paris Stock Market CAC40 index of France closed at 5833.20 points, down 7.35 points from the previous trading day, down 0.13%; the Frankfurt DAX index of Germany closed at 12220.25 points, down 52.69 points from the previous trading day, down 0.43%.
Company news
[Meta announced the new Meta Universe headset with a starting price of US$1,500]
On Tuesday local time, the Meta platform held an annual Connect conference to show the outside world the software and hardware construction of its "Meta Universe" vision. As the most important part of the press conference, the latest flagship MR device, Meta Quest Pro, was also launched today.According to the official website, the Meta Quest Pro comes with 10 advanced VR/MR sensors, equipped with 12GB RAM and Qualcomm Snapdragon XR2+ processor. The starting price also reaches US$1,499.99, and will be released on October 25 and shipped on October 28. You can now book on the official website.
The capital market also responded to this device in modest way, with Meta closing down 3.92% throughout the day. Since the name change was announced last year at the Connect conference, the company's stock price has fallen by nearly 60%.
[GM enters the energy storage track and expands supporting businesses such as solar panels]
On Tuesday local time, GM announced on its official website to launch a new energy business, providing a series of energy management products such as battery packs, solar panels, , electric vehicle charging piles, etc. for homes and enterprises. The press release reads that in order to create a new energy ecosystem, the company has also launched two new businesses, Ultium Home and Ultium Commercial, which are combined with the existing Ultium Charge 360 to form a new division called "General Energy".
[Intel and Google Cloud release E2000 data center chip]
On Tuesday local time, Intel and Alphabet, Google Cloud, a subsidiary of Alphabet, released an E2000 chip designed specifically for data centers to help the expensive CPU undertake the work of packaging data, thereby increasing the security and efficiency of data centers.
[The U.S. Department of Labor proposes to adjust the definition of contractors Uber and other gig economy companies plummeted]
The U.S. Department of Labor issued a proposal on Tuesday, intending to define workers who "economicly depend on companies" as employees, rather than independent contractors, and the new regulations are expected to be implemented next year. Affected by this, Uber and Lyft, which had limited profitability, both fell by more than 10% at the close.
[Disney delays the launch time of many movies]
According to media reports, entertainment giant Disney confirmed on Tuesday that the release time of many popular masterpieces will be postponed. Among them, "Avengers: Secret War" was postponed for half a year to May 1, 2026, and the new Deadpool movie was also postponed for two months to November 2024, and the Fantastic Four movie was postponed for three months to February 2025.
[Google reaches cooperation with Coinbase]
Before the market on Tuesday, Google announced a cooperation with cryptocurrency trading platform Coinbase. It is expected that some users can use cryptocurrency to purchase cloud services starting next year. As part of the partnership, Coinbase agreed to transfer part of its business to Google Cloud. Affected by this, Coinbase rose 4.65% on Tuesday.
