Hot news

• The Federal Reserve shows Taper roadmap for the first time! Start in November at the earliest, end in the middle of next year, or buy 15 billion less per month.

According to the minutes of the Fed meeting, in September, Fed officials expected that if the official announced Taper in November, he might start to act in mid-November or mid-December. Many people favored faster Taper; and all agreed to put it this way: if progress is expected, the adjustment of bond purchases may soon be guaranteed; many people point out that there is a risk that high inflation will last longer. Officials confirmed that Taper is not a direct signal to raise interest rates, the conditions for raising interest rates are more stringent, and some people expect to start raising interest rates within next year.

• Inflation may be more persistent than expected, and the market expects the Fed to raise interest rates by 90% in September next year.

Inflation fears have intensified, and interest rates on short-term debt in the United States have recently reached their highest level since the epidemic. In the US, CPI exceeded expectations by 5.4 per cent year-on-year in September, growing at more than 5 per cent for five months in a row, adding to inflation fears. On Wednesday, interest rates implied in federal funds rate futures showed that there was a 90% chance that the fed would raise interest rates by September next year.

• Biden announced that the two largest ports in the United States will be open 24 hours a day, 7 days a week.

On October 13, local time, US President Joe Biden made a public speech, announcing that Los Angeles Port and long Beach Port, the two largest ports in the United States, would operate 24 hours a day, seven days a week, to solve the problem of port cargo congestion, and to enable goods trucks in the United States to transport goods at night when there are no traffic jams, strengthening the consumer goods supply chain. Biden also said that in addition to the port, there are two major US express companies and retailers such as Walmart Inc to cooperate with the extension of transportation hours and the increase in the number of containers.

• The CDC expects that the data related to COVID-19 will show a downward trend in the next four weeks.

The death toll and hospitalization rate related to COVID-19 are expected to decline in the next four weeks, according to a report released by the Centers for Disease Control and Prevention on Oct. 13 local time. According to the latest forecast, the number of deaths of COVID-19 in the United States will reach 740000 to 762000 by November 6, and there will be 5 to 10100 new hospitalization cases by November 5. This will be the third consecutive week of projected reductions in deaths and the fifth consecutive week of projected decreases in hospitalizations. According to the latest data from Johns Hopkins University, the number of COVID-19 deaths in the United States has exceeded 717000. As of October 12, 64332 people had been hospitalized because of COVID-19, according to the U.S. Department of Health and Human Services.

• Since the second half of the year, more than 25 billion of the funds have been borrowed from ETF to copy the bottom of the Internet sector.

Since July, the amount of money spent on the Internet through ETF related to China Interconnection and Hang Seng Interconnection has exceeded 25 billion. The scale of relevant ETF has increased significantly, with the latest share of Internet ETF exceeding 20 billion to 20.081 billion, an increase of 9.831 billion since July, an increase of 78.63%. A number of industry insiders believe that the security margin of the Internet giant is gradually emerging, and the stock price is close to the bottom. From the pullback strength and valuation point of view, now the allocation of China-listed stocks or a relatively high price choice.

Review of US stocks

• S & P and Nasdaq ended three consecutive overcast, and most leading technology stocks went higher.

The three major US stock indexes stopped three consecutive shades, the S & P 500 closed up 0.3%, the Nasdaq closed up 0.73%, and the Dow closed slightly down 0.53 points, roughly flat. Leading technology stocks mostly closed higher, with Tesla, Inc. up nearly 0.7 per cent. Among the FAANMG's six largest technology stocks, only Apple Inc, who fell more than 0.4 per cent, closed down, Microsoft Corp and Amazon.Com Inc rose more than 1 per cent, Nai soared nearly 0.8 per cent, and Alphabet Inc-CL C's parent company Alphabet rose more than 0.8 per cent.

• Several popular Chinese stocks outperformed the market.

ETF KWEB and CQQQ closed up more than 3 per cent and 2 per cent respectively. RLX Technology Inc. rose nearly 15%, New Oriental Education & Technology Group rose over 8%, Zhihu Inc. rose nearly 6%, TAL Education and XPeng Inc. rose over 5%, Pinduoduo rose over 4%, Tencent ADR and Bilibili Inc. rose over 3%, Alibaba, Baidu, JD.com, NIO Inc and Li Auto rose over 2%, iQIYI rose nearly 2%, and Weibo rose over 1%.

• Copy the bottom and copy it on the hillside? Before the plunge, ARK increased its positions in the gene editing company and more hedge funds laid an ambush ahead of time.

Gene therapy research co.$CRISPR Therapeutics AG (CRSP.US) $At one point on Wednesday, it fell 10% as the company disappointed investors with an experimental blood cancer treatment. "wooden Sister" and a number of hedge funds "tricked", "wooden Sister" is an important shareholder of Crispr. ARK's flagship ETF ARKK and Genome Revolution ETF (ARKG) bought hundreds of thousands of shares a week before Crispr released its genetic editing of trial data for the cancer drug CTX110. The latest figures show that wooden Sister's two funds hold a total of nearly 7.5 million shares of Crispr, worth about $700m.

In addition, according to 13F filings filed with the Securities and Exchange Commission (SEC), many hedge funds have seen a surge in interest in Crispr. Although Crispr was not among the 30 most popular stocks of hedge funds in the second quarter, 34 hedge funds held it at its peak.

• The European Union intends to fine Facebook Inc with a maximum of 42 million US dollars

The Irish data Protection Commission (DPC) proposes that the European Union$Facebook Inc (FB.US) $Issue a fine up to 36 million euros ($42 million, about 271 million yuan). With the introduction of data protection regulations by the EU in 2018, the DPC will now share the preliminary decision with all relevant EU regulators and make a final decision after taking into account their views. Because Facebook Inc's protection of information was insufficient, DPC proposed a fine of 2800-36 million euros. The draft submitted by DPC argues that Facebook Inc has committed a serious infringement and lacks transparency.

• IPhone 13 production reduction due to shortage of materials? Apple Inc supply chain: orders have not changed much

It is reported that the limited upstream IC is short of materials, and the production of iPhone 13 will be reduced by 10 million units this year, and the total production capacity will be lower than expected. Hon Hai and Pegatron, the two major assembly plants of the iPhone 13 series, did not comment on the rumors yesterday. The unnamed iPhone supply chain revealed, "from$Apple Inc (AAPL.US) $According to the current shipping forecast, the current order has not changed much, and the assembly manufacturer's production is also carried out as planned. "

• Fisker confirmed that one of its electric cars will be produced by Hon Hai, with a target annual sales of up to 250000 vehicles.

Hon Hai electric vehicle partner American electric vehicle start-up company$Fisk (FSR.US) $It has been confirmed that one of its electric cars will be produced by Hon Hai at the Ohio plant it has just signed up to buy as early as 2024, with a target annual sales and production of up to 250000 vehicles. According to foreign reports, Fisker chairman Henrik Fisker disclosed the above news to the local Ohio newspaper The Morning Journal.

• Amazon.Com Inc is suspected of using platform data to gain unfair competitive advantage.

According to reports that the media reviewed thousands of internal documents$Amazon.Com Inc (AMZN.US) $The proprietary team in India is suspected of "copying" the products of other merchants through data comparison and promoting the sales of these products by manipulating the search order. At least two company executives have reviewed the strategy. Amazon.Com Inc currently faces antitrust investigations in the United States, the European Union and India.

• Us regulators questioned Tesla, Inc. whether to evade recall obligations through software upgrades

On Wednesday, local time, the National Highway Traffic Safety Administration (NHTSA) announced$Tesla, Inc. (TSLA.US) $The inquiry letter asked the company to explain why a safety-related software upgrade was launched in September rather than a public recall of vehicles. The software upgrades involved are said to be related to identifying emergency vehicle alarm lights in low light, which is what NHTSA is investigating. If the regulator finds Tesla, Inc. suspected of evading the recall, he may order a mandatory recall of the vehicle.

• Delta warns that rising oil prices could lead to fourth-quarter losses

although$Delta Airlines (DAL.US) $On Wednesday, it disclosed that it had made a profit without federal aid for the first time since the outbreak, but the company warned that rising oil prices would lead to a return to losses in the fourth quarter, sending the share price down 5.76%. The company said that every 5 cents increase in oil prices would mean an extra $40 million in expenses, which CEO Ed Bastian said would also lead to higher air ticket prices.

• Blackrock's Q3 revenue was 5.05 billion US dollars, an increase of 16% over the same period last year.

The largest asset management company in the world$Blackrock (BLK.US) $It reported better-than-expected three-quarter results, mainly due to an improvement in the global economy and an increase in assets under management, which boosted revenues. According to the financial report, Blackrock Q3 had revenue of $5.05 billion, up 16% from the same period last year; net profit was $1.68 billion, up 23% from the same period last year, and adjusted earnings per share was $10.95, exceeding market expectations of $9.39. Blackrock said that the decline in performance costs was offset by an increase in revenue from the technical services sector.

• Blue Origin successfully completed its second manned space flight, carrying 90-year-old Star Trek actor William Shatner into space!

At 10:49 EDT, famous Star Trek actor William Shatner and three other private crew members went into space today in Bezos' Blue Origin Blue Origin New Shepard rocket New Shepard rocket, marking Blue Origin's second successful manned suborbital mission aboard its space tourism vehicle.

Top 20 turnover of US stocks on Wednesday

The Prospect of Hong Kong City

• Hong Kong stocks are closed today because of Double-ninth Day.

Double-ninth Day will be held on Thursday, October 14. Hong Kong stocks will be closed for a day, while US stocks and A shares will open normally.

• China International Marine Containers expects net profit in the third quarter to be 4.1 billion to 4.9 billion yuan, up 366% to 457% over the same period last year.

$China International Marine Containers (02039.HK) $According to the announcement, the company expects the net profit of the group merger to be attributed to shareholders and other equity holders of the parent company in the nine months to September 30, 2021, ranging from 8.4 billion yuan to 9.2 billion yuan, an increase of 1104% to 1219% over the same period last year. The net profit attributable to shareholders and other equity holders of the parent company for the three months from July 1, 2021 to September 30, 2021 is expected to be about 4.1 billion to 4.9 billion yuan, an increase of 366% to 457% over the same period last year. Since the beginning of this year, the global economy has accelerated its recovery, international trade has maintained a relatively high bearing, and the market demand for containers has remained relatively high. Compared with the same period last year, the volume and price of the group's container business rose, and the performance increased significantly.

• Jiangxi Copper estimates that the net profit of returning home in the first three quarters will increase by 179% compared with the same period last year.

$Jiangxi Copper (00358.HK) $According to the announcement, the net profit attributed to the company's shareholders from January to September 2021 is expected to be 4.274 billion yuan to 4.734 billion yuan, compared with the same period last year. It will increase by 2.742 billion yuan to 3.202 billion yuan, an increase of 179% to 209% year-on-year. During the reporting period, the company strengthened internal management, scientifically organized production, dug management efficiency, and increased the prices of copper, sulfuric acid and other products over the same period last year, promoting performance growth.

• The People's Insurance's original premium income reached 454.382 billion yuan the month before last.

$The People's Insurance (01339.HK) $To issue an announcement, from January 1, 2021 to September 30, 2021, the original insurance premium income obtained by the company's subsidiaries China people's property Insurance Co., Ltd., China people's Life Insurance Co., Ltd. And China people's Health Insurance Co., Ltd. is 345.796 billion yuan, 77.936 billion yuan and 30.65 billion yuan respectively; a total of 454.382 billion yuan, an increase of 0.17% over the same period last year.

Focus today

Keywords: China's September CPI and PPI, US September PPI data, US large bank stock financial report, Taiwan Semiconductor Manufacturing Co Ltd financial report

Thursday is another busy day.The National Bureau of Statistics will release CPI and PPI data in September.

As for the follow-up trend of PPI, Bureau of Statistics spokesman Fu Linghui analyzed that PPI may run at a high level in the short term, and the future trend generally needs to be observed. On the one hand, international commodity prices remain high, although the recent increase has slowed down, but there is still some uncertainty.

Second, investors need to focus onChanges in the number of weekly jobless claims in the United States and September PPI data.

Analysts expect initial jobless claims to continue to decline as the surge in delta variants has receded and economic activity rebounded. Initial jobless claims are expected to fall by 26000, with a decrease of 38000 in early October, completely reversing the temporary increase of 52000 in the previous three weeks.

In terms of financial eventsOctober 14th for Double-ninth DayThe Hong Kong stock market is closed for one day.

Second, investors need to focus onMinutes of the Federal Reserve meetingThe September interest rate resolution was skewed towards hawks, basically finalizing the timing for scaling back bond purchases in November, but the minutes are more likely to be less than expected.

Financial reportLarge bank stocks huddled together to announce their results. According to the financial blog ZeroHedge, large US banks will begin to report their results in the week of October 11, 47% of the market capitalization of the S & P 500 will be released in the week of October 25, and 86% will be released by November 6, please note.

The leading bank stocks will receive the most attention, before Thursday's trading.$Morgan Stanley (MS.US) $、$U.S. Bancorp (USB.US) $、$Bank of America Corporation (BAC.US) $、$Wells Fargo & Co (WFC.US) $、$Citigroup Inc (C.US) $The successive release of earnings reports will help the market understand the strength of the US economy, loan demand, and even consumer spending. (profits in the financial sector are expected to grow by 18%. )

In addition$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $The results will also be announced before trading.

In terms of new shares, focus on the code hosting platform$Gitlab (GTLB.US) $be listed.

Niuniu morning reading:

Usually, the company's performance has nothing to do with the stock price for months or even years. But in the long run, the two are 100% related. This difference is the key to making money. Be patient and hold good stocks.

Peter Lynch (Peter Lynch)