Hot news

• Powell firmly released the eagle: the May meeting discussed raising interest rates by 50 basis points, implying that there was more than one time this year.

Powell, chairman of the Federal Reserve, said on Thursday that the Fed was committed to raising interest rates "quickly" to reduce inflation and that it was "absolutely necessary" to curb inflation and that any adjustment in advance was appropriate. Mr Powell left market expectations of a 50 basis point rate hike unchanged in May and hinted at the possibility of a similar rate hike this year. Powell also believes that the US labor market is overheated, and although "overheating" is good for workers, it is "unsustainably hot" and the Fed will cool the job market.

• Lagarde: the ECB needs to wait for the data to determine whether to raise interest rates next.

When asked about potential interest rate hikes in the eurozone, ECB President Christine Lagarde said it was pointless to be confined to a certain period of time and would wait for the data to make the next decision. She pointed out that the June meeting of the ECB was the time to decide what to do next based on the new data, reiterating that the speed of the eurozone economy was different from that of the US, justifying the slower response to current inflation. Lagarde also said the ECB's policy is more about normalisation than austerity.

• Fed official Daley: support raising interest rates by 50 basis points next month to 2.5% by the end of the year

Daley, chairman of the San Francisco Fed (not the 2022 FOMC voting committee), called for the Fed to raise interest rates "quickly" to reach neutral levels by the end of the year, possibly around 2.5 per cent, and she supported a big 50 basis point hike early next month. She said a purposeful shift to a more neutral monetary policy position that did not stimulate the economy was a top priority for the Fed. She also said that while the Fed's rate hike is expected to be very strong, the market has been digesting it for a long time, coupled with the imminent contraction of the Fed's $9 trillion balance sheet, it is unlikely to have an impact on the economy.

• Dove camp loses a general: Evans announces he will resign as chairman of the Chicago Federal Reserve

The Chicago Fed announced on April 21 local time that it had begun looking for new leaders because of the region's Federal Reserve Chairman Jonny Evans's decision to retire early next year. The 64-year-old Evans has long been a staunch supporter of dovish policy, serving at the Chicago Fed since 1991 and as chairman of the region in 2007. According to Fed practice, the term of office of a regional Fed chairman is usually up to 10 years, or until the age of 65, while Evans will reach the age limit in January.

• The rise in Treasury yields resumed on Thursday, with the two-year yield rising nearly 10 basis points

Treasury yields resumed their rally on Thursday. The yield on the 2-year Treasury note led the rise. Traders are already betting that the Fed may tighten monetary policy more aggressively at future meetings.

The policy-sensitive two-year yield climbed nearly 10 basis points, above 2.67 per cent, a new cyclical high, and traders began to bet on the possibility of a 75 basis point hike at the May or June policy meeting. The yield on the five-year note rose 8.5 basis points to 2.945 per cent. The yield on the 10-year Treasury note rose 6.5 basis points to 2.895%. The yield on the 30-year note rose 6 basis points to 2.93 per cent.

• Deutsche Bank warned: the United States should prepare for a hard landing.

In its latest House View report, Deutsche Bank offered a more pessimistic forecast that not only would the US economy suffer a recession, but that inflation expectations "could rise significantly, eventually leading to more aggressive tightening and a deeper recession, with unemployment soaring again". Deutsche Bank points out that the global economic situation is already deteriorating sharply. The war between Russia and Ukraine fundamentally shook Europe's energy dependence on Russia and undermined the geopolitical stability of the continent, thus significantly pushing up commodity prices and further heating up already high inflation. and could lead to a serious risk of long-term inflation expectations getting out of control.

• Us Treasury Secretary: EU energy ban on Russia may do more harm than good

U.S. Treasury Secretary Yellen said at a joint meeting of the IMF and the World Bank that Europe's energy ban on Russia could do more harm than good. She pointed out that the European Union must end its dependence on Russian oil, gas and coal imports, but the current comprehensive ban may not cause damage to the Russian economy, but also raise energy prices in Europe and raise global oil prices. have a devastating impact on Europe and the rest of the world.

Review of US stocks

• On Thursday, the three major indexes of US stocks closed down, while hot Chinese stocks continued to fall.

The Dow is down 1.05%, the Nasdaq is down 2.07%, and the S & P 500 is down 1.48%.

Large-scale technology stocks in the United States fell, Amazon.Com Inc and Netflix fell by more than 3%, Alphabet Inc-CL C fell by more than 2%, Apple Inc fell by 0.48% and Apple Inc fell by more than 6%, Microsoft Corp fell by more than 1%, and Tesla, Inc. rose by more than 3%.

Hot Chinese stocks generally fell. IQIYI fell nearly 15%, DiDi Global Inc. fell more than 9%, Pinduoduo fell more than 6%, JD.com, NIO Inc, Bilibili Inc., Baidu, Inc., Weibo Corp fell more than 5%, XPeng Inc. and Li Auto Inc. fell more than 4%, and Alibaba fell more than 3%.

• Musk: $46.5 billion has been arranged for the acquisition of Twitter, nearly half of which is self-owned

According to a declaration on Thursday, in order to give$Tesla, Inc. (TSLA.US) $CEO Musk acquisition$Twitter (TWTR.US) $For the financing of the transaction, the "relevant entity" has received a letter promising a total of approximately $46.5 billion. Of that amount, $21 billion was funded by Musk himself through equity financing. Mr Musk said financial institutions such as Morgan Stanley would provide about $25.5 billion in debt financing. Musk is in talks with private equity firm Thoma Bravo about a joint takeover of Twitter, according to two people familiar with the matter.

• Vice Chairman of the Securities Regulatory Commission: the issue of audit supervision between China and the United States is the core. I believe that the uncertainty will be eliminated soon.

According to Xinhua Finance, Fang Xinghai, vice chairman of the Securities Regulatory Commission, said in response to the decline of Chinese and US stocks that the issue of audit supervision between China and the United States is the core, and it is not easy to make some arrangements, and it is not easy to find a reasonable arrangement. However, the teams of the two sides meet every week to discuss, and it is believed that this uncertainty will be eliminated soon.

• SEC of the United States added another 17 Chinese stocks to the "pre-drawn list".

The Securities and Exchange Commission (SEC) added another 17 Chinese stocks to the "pre-delimited" list on April 21, local time, which is the fifth batch of Chinese companies to be added to the list since March. SEC claims that the deadline for the 17 companies to submit their claims is May 12, local time.

The 17 Chinese stocks are Zhihu Inc., Novartis Furniture, LOVARRA, BeyondSpring Inc, LUCKN COFFEE DRC, Aurora Mobile Limited Mobile, Scientific Energy, China Food, Value Exchange International, Jersey Medical Group, Entrepreneur Universe Bright Group, China than Energy, ZW Data Action Technologies In, AMTD International, BEST INC, Li Auto Inc. and KE Holdings Inc..

• Together, the three senior executives of Snap Inc Inc sold about 63488 shares, worth about $2.05 million

According to documents disclosed by the Securities and Exchange Commission (SEC) on April 20th$Snap Inc Inc (SNAP.US) $In total, the three executives sold 63488 shares, worth about $2.05 million. On April 20th, Jeremi Gorman, the chief business officer, sold 42239 shares at an average price of $32.28 per share, worth about $1.3633 million. Rebecca Morrow, the chief financial officer and chief financial officer, sold 8405 shares at an average price of $32.25 per share, worth about $271100. Derek Andersen, the chief financial officer, sold 12844 shares at an average price of $32.55 per share, worth about $418100.

• World Health Organization (WHO) supports the oral administration of Pfizer Inc and COVID-19 for high-risk patients

Approved by World Health Organization (WHO) on Thursday$Pfizer Inc (PFE.US) $COVID-19 took Paxlovid orally for high-risk patients (that is, patients with a hospital risk of more than 10 per cent), after an analysis of the organization's trial data showed that Paxlovid significantly reduced the risk of hospitalization. World Health Organization (WHO) said that in the existing COVID-19 treatment, Huirui oral administration of Paxlovid is by far the most effective. The World Health Organization's analysis of two Paxlovid clinical trials involving nearly 3100 patients showed that the drug reduced the risk of hospitalization by 85 per cent.

Yesterday's turnover of US stocks TOP20

The Prospect of Hong Kong City

• Beishui substantially increased Meituan's position by more than 1.1 billion Hong Kong dollars and sold Tencent more than 800 million Hong Kong dollars.

On Thursday, southbound funds sold a net HK $2.226 billion. Tencent, China Mobile Limited and CNOOC Limited received a net sale of HK $838 million, HK $443 million and HK $437 million respectively, while Meituan-W made a net purchase of HK $1.112 billion against the trend.

• Zhihu Inc.-W goes public todayThe price per share is HK $32.06.

$Zhihu Inc.-W (02390.HK) $Will be listed on the Hong Kong Stock Exchange today. Prior to the announcement of the allotment results, the company issued 26 million shares, of which Hong Kong public offerings accounted for 10 per cent, international placements accounted for 90 per cent, and another 15 per cent over-allotment rights. The final offering price is set at HK $32.06 per offer share, with 100 shares per share.

• China Mobile Limited: the net profit in the first quarter was 25.6 billion yuan, up 6.5% from the same period last year.

$China Mobile Limited (00941.HK) $According to the first quarter report, during the reporting period, the company achieved operating income of 227.3 billion yuan, an increase of 14.6% over the same period last year; net profit of 25.6 billion yuan, an increase of 6.5% over the same period last year; and basic earnings per share of 1.20 yuan. As of March 31, the company has a total of about 967 million mobile customers, of which the total number of 5G package customers has reached 467 million and the total number of 5G network customers has reached 233 million. The customer structure has been continuously optimized.

Focus today

Key words: Snap Inc, American Express Co, intuitive surgery financial reportThe initial value of US Markit manufacturing PMI in April and the US Markit service industry PMI in April.

Economic dataThe initial values of US Markit manufacturing PMI in April and US Markit service industry PMI in April will be announced on the same day.

Incident aspectFederal Reserve Chairman Powell and European Central Bank President Christine Lagarde participated in a panel discussion on the global economy held by IMF.

Financial report，$Snap Inc Inc (SNAP.US) $、$Intuitive Surgical (ISRG.US) $、$Verizon Communications Inc (VZ.US) $、$American Express Co (AXP.US) $、$Simulations Plus (SLP.US) $、$Great Wall Motor (02333.HK) $、$China Merchants Bank (03968.HK) $Waiting for the big financial report to hit.

Niuniu morning reading:

The stock market is full of people who know the price of everything but the value of nothing.

-- Philip Fisher