Global macro
Before the trading session on Wednesday, the United States PPI in September fell year-on-year, US stock three major index futures narrowed the growth rate of
US September PPI increased by 0.4% month-on-month, expected 0.20%, and the previous value was -0.10%. The US PPI grew by 8.5% year-on-year in September, with an expected 8.40% and the previous value of 8.70%.
Bridgewater Dalio: The US economy is facing a "perfect storm"
grid world's largest hedge fund Bridgewater founder Dalio said that as the US Federal Reserve raises interest rates, a "perfect storm" is forming and will spread economic pain. He said that government stimulus measures during the epidemic have created a bubble. The domestic tensions in the United States, caused by irreconcilable differences and huge gaps between the rich and the poor, coupled with international conflicts, are contributing to this perfect storm. Dario expects that the Federal Reserve will continue to raise interest rates to fight inflation, but if the interest rate exceeds 4.5%, it will cause the economy to be unbearable, resulting in negative growth and put the economy into recession.
Is the fund panic coming? The Federal Reserve quietly provided US$3.1 billion in liquidity to the Swiss National Bank
On September 29, Michael Hartnett, chief strategist at Bank of America , warned in the report that US stocks will fall into a "spiral sell-off" and maintain a tactical bearish view before the panic selling of the market forces the Federal Reserve to intervene. At that time, Hartnett reiterated his classic comment: When the central bank starts to panic, the market no longer panics.
Hartnett warned less than a week ago, in addition to the Bank of England, which just announced an emergency intervention in the domestic bond market in late September, there was also a European central bank "panic". According to the official website of the New York Fed, last Wednesday, October 5, the Federal Reserve conducted a total of US$3.3065 billion in USD liquidity swap operations against the Swiss National Bank and the European Central Bank. This is mainly to provide the Swiss National Bank with US$3.1 billion in liquidity. The liquidity swap last Wednesday was the first time the Federal Reserve has provided US dollar liquidity to the Swiss Central Bank this year, and it is also the first time the Federal Reserve has used liquidity swap quota on overseas central banks on a large scale.
Yellen gives the green light to the strong dollar: in line with the interests of the United States
Yellen said that it is in line with the interests of the United States to determine the value of the dollar by the market. The US dollar is a safe haven, so capital inflows can be seen during periods of stress. The current position of the US dollar reflects appropriate policies. The fluctuation of the exchange rate is an inevitable result of different policy positions.
's remarks have left investors with no sufficient reason to short USD on . Although some strategists warn that rising interest rates will soon start to damage the U.S. economy, the dollar's uptrend that lasted for more than half a year still shows no sign of slowing down.
Biden: The United States may experience a recession, but any recession will be "very mild"
U.S. President Biden said that the United States may experience a recession, but any recession will be "very mild", and the US economy has enough resilience to survive the turmoil. Biden said, "I don't think there will be a recession. Even if it happens, it will be a very slight recession. That is, we will go slightly lower." When asked whether the American people should prepare for the recession, Biden replied, "No."
Next UK pension? The risk signal of the US corporate bond market has been revealed. The panic is spreading to the US corporate bond market, and it is also difficult for the US stock blue-chip stock companies to issue bonds. Media reports said that due to the tightening of the market environment, the investment-grade bond issuance plans of the three U.S. stock companies have been forced to stand on hold this week. Some traders are waiting for this week's CPI data, which will provide guidance for the Federal Reserve's subsequent rate hikes. As the Federal Reserve continues to tighten its policies, it is becoming increasingly difficult to issue corporate bonds in the United States. Investment bank statistics show that the total issuance of investment-grade corporate bonds in the United States in September was only US$90 billion, the second lowest monthly sales this year. The U.S. high-grade CDX index, which measures corporate bond credit risk, previously hit a new high this year.
nearly US$400,000 a day! Europe is rushing to stock up for winter, and the freight rate of LNG ship hits a new high
According to market news, as Europe rushes to stock up to ensure winter supply, a battle for ships is taking place, and the freight rate of liquefied natural gas (LNG) hits a new record high on Tuesday. The cost of leasing an LNG ship in the Atlantic basin now jumped to $397,500 a day, surpassing the record high set last year, according to ship broker data collected by Spark Commodities.
Research says European automobile production will be cut by 40%
Automotive industry research organization Standard & Poor's Global Mobility released a report on Tuesday saying that in the worst case, the European energy crisis could lead to a decrease in its automobile production by nearly 40%, that is, production may be cut by about 1 million vehicles per quarter. SP Global Mobility warns that the supply chain of the European automotive industry has been affected by the COVID-19 pandemic and the Russian-Ukrainian conflict, and may also face huge pressure from soaring energy costs and even power outages in winter.
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star tech stocks general rise before the market
Pepsi Q3 adjusted earnings and revenue per share were higher than expected, and the 2022 fiscal year performance guidance
$Pepsi Coke (PEP.US)$ rose more than 2% before the market. The company announced that in the third quarter ended September 3, adjusted earnings per share were $1.97, higher than analysts' expectations of $1.84; revenue was $21.97 billion, up 8.8% year-on-year, higher than analysts' expectations of $20.84 billion; net profit was $2.7 billion, higher than $2.22 billion in the same period last year. The company expects organic revenue growth to rise from 10% to 12% in 2022; core fixed exchange rate earnings per share will increase by 10%, up from 8% before. Thanks to the multiple price increases to buffer the impact of rising costs.
Rivian rose before the market, and Ruisui said the company's recall of cars had little impact
$Rivian Automotive(RIVN.US)$ rose nearly 2% before the market to $32.89. After speaking with Rivian management, Vijay Rakesh, an analyst at Ruisui, said the impact of the company's recall of cars was relatively small and its production lines had been updated. The analyst believes that Rivian has found loose parts on only "less than 1%" of vehicles, noting that the company expects the recall to be minimal as manufacturing processes improve. He said the news description was worse than the actual situation and maintained the buy rating of for the stock, with a target price of $65.
Moderna rose nearly 5% before the market trading
Moderna rose 4.71% before the market trading to $126.41. It is reported that it will jointly develop the cancer vaccine MRNA-4157/V940 with Merck . Merck will pay Moderna $250 million.
Apple , Samsung and Google will launch software updates for mobile phones in India, compatible with local 5G services in India
$Apple (AAPL.US)$ in an email statement on Wednesday local time, saying that it plans to launch software updates for Indian iPhone users from December. Samsung issued a statement saying it will launch the OTA update for 5G phones in India by the end of November. Google-C(GOOG.US)$$Google-A(GOOGL.US)$A spokesperson said Google is actively working with Indian operators to seek to implement 5G capabilities for devices including Pixel 7.
Twitter reviews policy on permanent user ban
According to the Financial Times, $Twitter (TWTR.US)$ is reviewing its permanent ban user policy, which may make its content review more in line with Elon Musk ’s vision for Twitter. Twitter has been evaluating whether there are other content review tools that can replace its toughest penalties for violating certain rules, people familiar with the matter said. But insiders say any change is unlikely to pave the way for Donald Trump to return to the platform, as lifting bans on violations of policy prohibiting incitement to violence is out of consideration. Staff are studying what areas Twitter may have taken overly harsh measures, such as sharing misleading information.The review began a few months ago and no conclusions have been reached.
Microsoft and Mercedes-Benz reached a cooperation agreement on cloud platform
Mercedes-Benz and $Microsoft (MSFT.US)$ announced on Wednesday that it will establish a partnership, which will use the Microsoft cloud platform to improve the production efficiency of more than 30 automotive factories around the world. The statement said that the data platform called MO360 has been launched in Europe, Middle East and Africa, and will also be launched in the United States and China. It is reported that this cooperation will increase automobile production efficiency in 2025 by 20% compared with the level in 2022.
Zuckerberg hinted that Apple is Meta's main rival in the meta-universe field
According to market news, on Tuesday local time, $Meta Platforms (META.US)$CEO Mark Zuckerberg hinted that he regards $Apple (AAPL.US)$ as Meta's main competitor in the meta-universe field. Although Zuckerberg, like before, did not explicitly mention Apple, he said that competitors are focusing on developing VR platforms to lock consumers in specific operating systems. "In each generation of computing platforms, there are open and closed ecosystems, such as Windows and Mac, and then Android and iOS." Zuckerberg said, "The focus of a closed ecosystem is to create unique experiences through tight control and integration and lock in users. But most of the value eventually flows to this platform."
focuses on Chinese stocks listed in htm. l2
Popular Chinese stocks rose before the market
Chinese new energy vehicle stocks strengthened before the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market till the market The latest data from the China Association of Automobile Manufacturers shows that in September, my country's new energy vehicle production and sales reached 755,000 and 708,000 respectively, an increase of 1.1 times and 93.9% year-on-year, with a market share of 27.1%. The China Association of Automobile Manufacturers said that in the third quarter, my country's monthly production and sales grew rapidly, and the overall trend of "the off-season is not slow, and the peak season returns", driving the industry to stabilize and rebound.
Ctrip.com rose more than 2% before the market, and in-depth layout of hotel and catering business
$ Ctrip.com (TCOM.US)$ rose 2.54% before the market to US$24.23. According to the news, Ctrip Food Forest released the seasonal menu "Mountains, Lakes, Seas, Finding the ultimate taste" at the Huamao Hilton Hotel in Dongqian Lake, Ningbo yesterday. This is also the first time that Ctrip Food Forest has cooperated with a hotel group to inject vitality into the food and tourism industry. Ctrip stated that in the future, it will carry out and deepen catering cooperation with major hotel groups around the world, integrate more innovative catering strategies, and continue to help hotel groups deepen and expand their catering business.
U.S. stock trading volume TOP20
U.S. stock macro calendar reminder:
20:30 US September PPI monthly rate
20:00 OPEC released its monthly crude oil market report (the specific release time of the monthly report is to be determined, generally announced around 18-21:30 ECB President Lagarde delivered a speech.
22:00 US 2023 FOMC voter, Minneapolis Fed Chairman Kashkali delivered a speech
00:00 US EIA released monthly short-term energy outlook report
01:45 Fed Director Barr gave a speech on new technologies, the Federal Reserve and inclusiveness
02:00 Fed FOMC released September monetary policy meeting minutes
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