Federal After hawkish officials made a statement, U.S. stocks closed down again on Thursday, U.S. Treasury yields continued to rise, and investors continued to pay attention to U.S. stock financial reports, economic data and their impact on the Fed's policy prospects.
Tesla 's third-quarter report "lose" less than market expectations, its stock price fell 6.65%, and its market value evaporated by US$46.1 billion overnight! (approximately RMB 335.6 billion); Amazon faces class action lawsuit in the UK , and the potential losses of consumers may be as high as 900 million pound .
The rules that affect stock prices simultaneously have abnormal moments: , which suffered unexpected losses in the third quarter, closed up 3.4%! However, the third-quarter earnings and fourth-quarter guidance were higher than expected. American Airlines closed down 3.8%!
data falsification for more than 30 years, and Mitsubishi Electric punished 22 executives!
US stock rebound failure is under pressure again
Fed officials continue to "let the eagle". According to wind, Fed director Cook said that the Fed may need to continue hike interest rates; Inflation remains stubbornly maintaining an unacceptable high, and the risk of inflation is tending to rise.
Federal Evans, there is reason to believe that inflation will improve soon; do not think that the United States is on the road of wage-price spiral; after the release of CPI data in September, I think the policy interest rate next year is more appropriate. The Fed is considering the appropriate level of restrictive monetary policy; the Fed faces difficult communication challenges as it approaches the moment to slow down the pace of rate hikes.
After the hawkish statement from Federal Reserve officials, the three major U.S. stock indexes changed their early rise and fell in the afternoon. As of the close, the Dow Jones Industrial Average fell 0.3% to 30333.59 points, the S&P 500 index fell 0.8% to 3665.78 points, and the Nasdaq fell 0.61% to 10614.84 points.
, the 10-term U.S. Treasury bonds, which are "anchored of global asset pricing ", were also affected by hawkish remarks, and once rose above 4.2% during the session, setting a new high since 2009; the yield of 2-year US bond rose by more than 6 basis points, reaching a maximum of 4.6185%, the first increase of 4.6% since August 9, 2007.
Tesla's revenue and delivery both hit highs
but still lower than expected
Tesla's third-quarter revenue hit a record high again, but still lower than analysts' expectations. On October 20, Tesla released its third-quarter financial report, with total revenue in the third quarter of US$21.454 billion, and increased by 56% year-on-year. According to Refinitiv's IBES data, analysts expect Tesla's third-quarter revenue to be $21.96 billion.
Among other financial data, Tesla's net profit attributable to common shareholders in the third quarter was US$3.292 billion, a year-on-year increase of 103%, higher than analysts' expectations of US$3.2 billion; gross profit margin was 27.9%, not only lower than analysts' expectations, but also lower than 30.5% in the same period last year. Tesla's gross profit margin was below 30% for the second consecutive quarter.
On the same day, Tesla's official Weibo account released a message saying that since 2012, the global Tesla super charging network has been deployed in 46 countries, with a total of more than 35,000 super charging piles. Since the first Tesla super charging station in mainland China was completed in Jinqiao, Shanghai in 2014, Tesla has opened more than 1,300 super charging stations and more than 9,300 super charging piles in mainland China.
wind message, Tesla CEO Elon? Musk said he expects to break the delivery record in the fourth quarter; make rapid progress in the production of 4680 batteries; demand in the fourth quarter is very strong, and all produced cars are expected to be sold; Tesla may conduct stock buybacks of $5 billion to $10 billion; Tesla's market value may exceed the sum of Apple and Saudi Aramco.
was dragged down by the third-quarter financial report, and Tesla's decline reached 9% in the early trading, closing down 6.65%. Most other leading technology stocks also fell. The TAMAMA technology index in Wande fell 0.75%, Facebook fell 1.28%, Apple fell 0.33%, Amazon rose 0.16%, Netflix fell 1.55%, Google rose 0.34%, and Microsoft fell 0.14%.
According to Cailianshe, it is reported that due to the overall market of the iPhone 14 Plus, Apple has determined to cut orders for iPhone 14 Plus.Industry insiders said that there have been news that the iPhone 14 Plus will significantly reduce production, with the order cut of about 40%, and other models will make up for the gap in total shipment.
According to wind, Amazon faces a class action lawsuit in the UK and is accused of using a "secret" algorithm to abuse its dominance in the online market, with potential losses of up to £900 million for consumers.
Compiled by Sina Finance, the law firm that runs the lawsuit, Hausfeld, said Amazon has allowed millions of customers to pay more by hiding more favorable deals on its website and mobile apps and promoting self-operated products. Amazon does this by using a "secret and self-interested algorithm" in the Buy Box feature, the law firm said. "As we all know, consumers like to buy eye-catching items in prominent places, such as Buy Box, and Amazon has taken advantage of this trend. Amazon should not be allowed to exploit its customers in such anti-competitive ways."
Aluminum lost unexpectedly
CEO said it was a challenging quarter
Aluminum closed up 3.4% on Thursday, as the world's first aluminum giant to announce third-quarter results, Aluminum lost unexpectedly. According to the financial report, Aluminum Corporation's Q3 revenue was US$2.85 billion, a year-on-year decrease of 8.4%, lower than the market's expectations of US$2.97 billion; a net loss of US$746 million, compared with a net profit of US$337 million in the same period last year. Alcoa said the losses were due to falling prices of alumina and aluminum, rising energy and raw materials costs and restructuring costs, including $626 million in connection with pension settlement.
Zhitong Finance News last month, the company just warned investors that it was being squeezed by rising costs and falling aluminum prices. Aluminum prices have fallen by more than 20% this year due to intensified global inflation, soaring energy costs and weakening economic outlook. To increase market uncertainty, London Metal Exchange (LME) or the United States may impose a ban on Russia, the world's second largest producer of rare earth . "This is a challenging quarter, with oil prices falling sharply and energy and raw material costs remaining high." "In the past few years, we have been working hard to enhance our business's risk resistance and enable us to compete at all stages of the commodity cycle, including the stage we are currently going through."
AT;; T, IBM and American Airlines
both exceeded market expectations for revenue and profits
Among other companies that released their third-quarter financial results, both profit and revenue were better than expected AT; T (T) and IBM (IBM) closed up 7.7% and 4.7% respectively.
American Airlines' third-quarter financial report also performed very well. The financial report shows that American Airlines' total revenue in the third quarter was US$13.462 billion, a year-on-year increase of 50.1%; net profit was US$483 million, compared with US$169 million in the same period last year; diluted earnings per share were US$0.69, compared with US$0.25 in the same period last year. While third-quarter earnings and fourth-quarter guidance were higher than expected, American Airlines closed down 3.8% on Thursday.
data fraud has been committed for more than 30 years
Mitsubishi Electric punished 22 senior executives
According to CCTV, Japan's Mitsubishi Electric Company said on October 20 that it would punish 22 current and former executives involved in data fraud. The company was exposed to have faked inspection data and lasted for more than 30 years. A factory in Nagasaki is accused of not conducting product inspections as agreed in the contract since 1985 before the train air conditioners are mass-produced or left the factory, but instead forged inspection data.
In addition, this factory also falsified the air compressor inspection data. These air compressors mainly play a role when the train brakes and closes the door, which is related to the safety of operation. After the fraud of Mitsubishi Electric's data was exposed, the company's then chairman Masaki Shayama and then president Takeshi Sugiyama resigned last year.
Chinese stocks in the early trading rose far exceeding in the market and most of them closed higher
Popular Chinese stocks rose far exceeding the market in the early trading. Although the increase in in the future was narrowed, most of them closed higher. Nasdaq Golden Dragon China Index (HXC) rose more than 4% in the early trading and closed up 0.8%.
Nasdaq 100 Index Among the four constituent stocks of , , which rose more than 8% in the early trading, closed up 2.6%, , JD.com , closed up 2.3%, , Baidu , rose 0.1%, while NetEase fell 3.5%. Among other stocks, Xiaopeng Motors rose more than 3%, Ideal Auto rose nearly 3%, Alibaba rose more than 1%, NIO rose 0.5%, B station rose nearly 0.4%, and Tencent fans fell more than 1%.
NATO is approaching the edge of direct military conflict with Russia
CCTV news, on October 20 local time, Russian Foreign Ministry spokesperson Zakharova said that NATO continues to provide military support and weapons and equipment to Ukraine, which is gradually bringing NATO to the edge of direct military conflict with Russia.
Zakharova said that NATO countries have become the official supporter of terrorism in Ukraine. Western weapons and equipment flowing to Ukraine through smuggling and black markets exceeds $1 billion per month.
This article is from China Fund News
