In the early morning of the 12th Beijing time, U.S. stocks rose and fell in late Tuesday, with the Nasdaq and S&P falling. The market is still closely monitoring the financial report of US stocks, inflation data and tense geopolitical situation.

In the early morning of the 12th Beijing time, US stocks rose and fell in late trading on Tuesday, and the Nasdaq and S&P index fell. The market is still closely monitoring the U.S. stock financial report, inflation data and the tense geopolitical situation. International Monetary Fund lowers global GDP expectations in 2023.

Dow Jones rose 141.45 points, rose at 0.48%, to 29344.33 points; Nasdaq fell 92.87 points, or 0.88%, to 10449.23 points; S&P 500 index fell 10.69 points, or 0.30%, to 3601.70 points.

US Treasury bond prices fell on Tuesday, with the 10-year Treasury yield rising about 5 basis points, climbing to 3.937%, approaching the 4% mark again. Treasury yields tend to be the opposite of prices.

US stocks were suppressed on Monday by JPMorgan Chase CEO O Jamie Dimon remarks. Dimon warned on the same day that the US economy is very likely to fall into recession "within 6 to 9 months", and said that the S&P 500 may fall another 20%, but it will depend on whether the Federal Reserve manipulates the soft or hard landing of the US economy.

Dimon said that by mid-next year, several very serious adverse factors could put the U.S. and global economies in recession. Indicators that send warning signals include the impact of out-of-control inflation, the impact of higher interest rates than expected, and the unknown consequences of quantitative austerity and the tense geopolitical situation in Eastern Europe.

Dimon pointed out that these are very serious things, and they may push the United States and the world into some degree of recession after 6 to 9 months, while Europe has entered a recession.

When asked about your opinion on the S&P 500, Dimon said it could easily drop 20% from its current level and that the process would be more painful than the first time.

Morgan Stanley chief strategist Michael Wilson pointed out in his latest report that the S&P 500 closed at the 200-day moving average . The vicious rebound and short cover proved that this is just a struggle in the bear market, not the beginning of a new bull market.

Wilson believes that the S&P 500 index fell to 3,000 points, and the price-to-earnings ratio further dropped to 13 times, and the US stock market will bottom out and the bear market will end. The U.S. economic data may plummet after the midterm elections and U.S. stock companies abandon their earnings forecasts for next year, which means the pain will continue.

Wilson pointed out that the situation of the US economy may be much worse than the official data. After the November 8 midterm elections, how far will the economic data "collapse" when there is no more political motivation to support the US economic data?

On the other hand, in recent weeks, there has been overwhelming evidence that Wilson pointed out that businesses will continue to lower earnings expectations next year may become a reality. Large and important companies in all industries have announced or pre-released their profits, with performance in the fourth quarter falling sharply, with some of them expected to fall by 30%.

IMF President and World Bank President warn that the risk of a global economy falling into a recession is rising.

US stock investors are about to usher in intensive financial reports and important inflation data. These data include the Producer Price Index (PPI) on Wednesday, the Consumer Price Index (CPI) on Thursday, and retail sales data on Friday.

Investors are most concerned about this week how the Fed will respond to the economic situation in curbing inflation.

Cleveland Fed Chairman Loretta Mester said in a speech Tuesday that he needed to continue hikes in and that the Fed could not be complacent as he struggled to fight the worst inflation in decades. She said that given the current inflation level, its wide range of coverage and its durability, it is believed that monetary policy will need to become more restrictive in order to make inflation sustainable drop to 2%.

In terms of monetary policy, Fed officials must weigh the risks of too much tightening and insufficient tightening, but the greater risk at the moment comes from too little tightening, which will lead to high inflation continuing and taking root in the economy. Despite uncertainty, officials still need to take decisive action to control prices, "cautiousness does not mean doing less."

US September inflation data scheduled to be released on Thursday will reveal whether the Fed's previous aggressive interest rate hikes have played an effective role in curbing inflation.If inflation continues to soar, it may further strengthen the Fed's expectation of a 75 basis point rate hike in November.

Solus Alternative Wealth Management Chief Strategist and Economist Dan Greenhaus said: "Some people always think that the Fed's radical austerity policy is about to turn, and they will make certain economic sacrifices to suppress inflation so as to prevent the wider economy from being affected."

He said: "These are market hopes and dreams. And history shows that when the Fed tightens its policies, the most likely result is: the Fed's excessive tightening leads to economic misalignment, and the market falls."

Focus stocks

Morgan Stanley lowers its target price for Tesla to $350.

Barclays lowered the target price of Apple to $155, maintaining the wait-and-see rating for stocks. Barclays analyst Tim Long lowered Apple's target price to $155 from $169 and maintained a wait-and-see rating on the stock. The analyst believes that even with a 200 basis point incremental forex headwind, Apple's hardware revenue forecast still has a 3% upside in September. He believes that the weak service business was offset by a slight increase in iPhone sales and a sharp increase in MacBook sales, which increased expectations for hardware revenue this quarter. Share prices of

Lyftt, Uber and others fell sharply. The U.S. Department of Labor released a proposal Tuesday that would make millions of doormen, home care and construction workers, and gig drivers more likely to be classified as employees rather than independent contractors. Uber and Lyft said viewing drivers as employees could force them to change their business models, and some gig economy officials estimate that this will increase labor costs for both companies by 20% to 30%.

Delta Airlines announced an investment of US$60 million to invest in Joby Aviation, and the investment amount is expected to expand to US$200 million in the future.

American Airlines Group updated its third-quarter performance guidance. The company will announce Q3 results before the trading session on October 20. American Airlines said that capacity is expected to drop 9.6% in the third quarter, with available seat mileage of 68.6 billion miles, compared with pre-pandemic levels in 2019.

Wells Fargo lowered its target price for Intel to $32, maintaining its wait-and-see rating. Wells Fargo analyst Aaron Rakers lowered Intel's target price to $32 from $45 and maintained a wait-and-see rating on the stock. The analyst believes that investors' concerns about the decline in Intel's data center business revenue in 2023 are increasing, which will continue to drag down stock price performance.

news said that Google will choose cryptocurrency trading platform Coinbase to make cloud payments in cryptocurrency, Coinbase chooses Google Cloud as a strategic cloud provider; Google and Coinbase establish a new partnership to promote WEB3 innovation.

In addition, Coinbase stated that the company's main payment institution license has been approved in principle by the Monetary Authority of Singapore . Coinbase said that after obtaining the license, the company will be able to provide regulated digital payment token products and services on Singapore . Coinbase announced last year that Singapore was its technology hub.

GM announced on Tuesday that it will provide its own solar power generation and storage systems from the end of next year, competing with Tesla's energy storage business Powerwall. General Motors said the company will set up a new business unit, GM Energy, which will work with solar technology and energy service provider SunPower to provide residential and commercial users with solar panel and home energy storage solutions. The plan is similar to Tesla's energy business, where panels made by automakers power homes during night or during power outages.

Barclays gave Roblox an initial rating of its sub-equity, believing that its user growth faces challenges.

French Federation (CGTh) representative said on October 11 that ExxonMobil's refineries in Gravenchon and Fos, France are still suspended due to strikes. Earlier, ExxonMobil's French branch said it had reached an agreement with two unions. But the French Federation said it did not include itself and the group's strike continued.

According to media reports, the Indian government will promote mobile phone manufacturers such as Apple, Samsung and Xiaomi and vivo to give priority to launching software upgrades to support local 5G services.

Toyota Motor announced on October 11 that it will launch a pilot project for flexible fuel hybrid vehicle in India. Toyota will import Corolla Altis for this project.

Zscaler CTO resigns.

BlackRock's asset management business in the United States has lost more than $1 billion.

ContextLogic shareholders sold 1.7853 million shares.

Arrival plans to raise funds and enter the US market.

It is said that Viliden LiDAR has acquired artificial intelligence software company Bluecity.

Velodyne signed a multi-year agreement with Yamaha Engines and has now begun providing sensors to it for the Eve car launched in October this year.

Wells Fargo lowers its target price to $360.

US capital agency expects a comprehensive loss of $1.99-2.03 per share in the third quarter.

Other markets, the price of gold futures for December delivery on the New York Mercantile Exchange rose 0.6% to close at $1,686.00 per ounce.