Hot news

• Mestre, the voting committee, opposed raising interest rates by 75 basis points, saying that monetary policy should be tightened in an orderly manner.

On Friday, Cleveland Fed Chairman Mestre expressed his opposition to an one-off interest rate hike of 75 basis points and in favor of caution in tightening monetary policy. She also said she was in favour of raising interest rates by 50 basis points in May, followed by "a few more increases" in order to raise the policy rate to about 2.5 per cent by the end of the year. Mestre has FOMC voting rights this year.

• Over 70% of the US stock companies'Q1 profits exceeded expectations! Tesla, Inc. helped, non-essential consumer stocks performed best

As of April 22, 99 companies in the S & P 500 had reported first-quarter results, according to Refinitiv. 77.9% of the companies' profits exceeded market expectations, and the average range of profits exceeding market expectations was 7.7%. Of these, 69.7% of the total revenue exceeded market expectations, and the average range of total revenue exceeding expectations was 1.4%. The profit of non-essential consumer stocks exceeded expectations by 14%.

• Fannie Mae: recession may be inevitable, but real estate will be the savior

Us mortgage giant Fannie Mae admits it is doubtful that the US economy wants a soft landing, but the housing market is likely to help the US economy experience only a "moderate recession" in 2023. Fannie Mae said consumer demand for new homes will outstrip supply in the future, which will give impetus to keeping house prices high and stimulating economic growth in the United States until 2023.

• German asset management giant warns: the escalation of the war between Russia and Ukraine is the biggest risk facing the stock market.

The US investment director of German asset management giant DWS Group believes that what stock market investors are most worried about is the highest inflation rate in the United States in 40 years and the possibility of a recession, but the risk of escalating the war between Russia and Ukraine should be their biggest concern. DWS is watching the war because an escalation of it could cause oil prices to soar again and eventually lead to a recession. If there is any recession, "We think it will come from Europe," DWS said. The eurozone is under pressure from rising energy prices because the region is heavily dependent on Russian oil and other natural resources.

• See you at the end of the year for 2500 dollars! Goldman Sachs Group sings more gold: the price must rise

Goldman Sachs Group released a report a few days ago, saying that due to the strong demand for investment, consumer retail and central bank gold purchases at the same time, they raised their gold price target for the end of the year to 2500 US dollars / oz, and pointed out that if gold prices rise, the equilibrium of the spot market is also expected to be achieved. Goldman Sachs Group pointed out that gold, like other commodities, is a kind of physical asset, so physical demand must be balanced with physical supply. When investment demand for gold is strong, gold prices have to rise to delay consumer retail and make room for investors.

• Xiao Mo: the reserve status of the US dollar is declining day by day, and the world is approaching "diversification of foreign reserves".

The share of the dollar in global foreign exchange reserves has fallen to its lowest level on record, and the decline has accelerated recently, analysts JPMorgan Chase & Co said. In the fourth quarter of 2021, the allocation share of the dollar fell below 59%. This is down from nearly 62 per cent at the beginning of 2020 and 65 per cent in 2015. The decline in the dollar's share is even more pronounced if the value of the currency is taken into account, although the recent strengthening of the dollar has masked a sharp decline in the dollar's foreign exchange reserve position.

• The incumbent French President Jean-Claude Macron won the election and was re-elected.

The second round of voting in the French presidential election ended at 20:00 on April 24th. French media released the earliest exit poll results show that the incumbent president, Republican Kadima candidate Macron won the general election with 58.2% of the vote. Macron became another French president to be re-elected after Chirac.

• European Commission: total abandonment of Russian Natural Gas will cause serious Energy crisis in some member States

European Commission Vice President Julova said that the complete abandonment of Gazprom would lead to a serious energy crisis in some member states. She said that the EU is currently studying the sixth round of sanctions against Russia, but should understand the willingness of member states to cooperate before imposing sanctions. According to the European Commission website, the EU relies on Russia for 45% of its natural gas imports. The European Commission also said EU companies might be able to comply with Russia's proposed gas payment system without violating sanctions against Russia.

Review of US stocks

• On Friday, the three major indexes of US stocks all fell nearly 3 per cent.

The Dow fell 2.82%, the biggest one-day decline since the end of October 2020, the Nasdaq fell 2.55%, and the S & P 500 fell 2.77%.

All large technology stocks fell, with Apple Inc down 2.78%, Amazon.Com Inc down 2.66% Meta down 2.11%, Alphabet Inc-CL C down 4.15%, Microsoft Corp down 2.41% and Netflix Inc down 1.24%. Tesla, Inc., who closed up more than 3% on Thursday, closed down nearly 0.4%.

Hot US-listed stocks were mixed. JD.com rose 2.64%, iQIYI, Inc. 1.56%, BABA 0.58%, Bilibili Inc. 0.38%, NetEase, Inc 0.19%, Pinduoduo down 0.06%, Baidu, Inc. 1.21%, Tencent Music 1.92%, Zhihu Inc. 6.63%.

• The European Union has agreed on new digital regulations that will require tech giants to deal more actively with illegal content

The European Parliament and EU member states agreed on Saturday on a new digital regulation, the Digital Services Act (DSA), which will require$Alphabet Inc-CL C-A (GOOGL.US) $/$Alphabet Inc-CL C-C (GOOG.US) $和$Meta Platforms (FB.US) $And other tech giants are more active in regulating illegal content on their platforms, and companies that break the rules could face billions of dollars in fines. According to the new rules$Amazon.Com Inc (AMZN.US) $E-commerce markets such as e-commerce must also stop the sale of illegal goods.

• Twitter faces shareholder pressure or seeks to reach an agreement with Musk

It is reported that in$Tesla, Inc. (TSLA.US) $After CEO Musk disclosed that he had received $46.5 billion in financing$Twitter (TWTR.US) $In the face of shareholder pressure, he may be more inclined to accept Mr Musk's offer. Twitter executives are now reviewing the bid and are more likely than ever to try negotiations, with the two sides meeting on Sunday local time to discuss Mr Musk's $43 billion proposal, according to people familiar with the matter. The social media company had been expected to veto the proposal and use a "poison pill" to fend off potentially hostile takeovers.

• Netflix Inc's performance affects the prospects of the industry, analysts: the streaming media industry "dark clouds"

$Netflix Inc (NFLX.US) $The company lost 200000 users in the first quarter of 2022 and is expected to lose another 2 million users in the coming months. The company's share price plummeted 35% after the Q1 earnings report, and other streaming stocks were also hit.$Amazon.Com Inc (AMZN.US) $Prime, Hulu and NBC Global's streaming Peacock will also be affected by the loss of users. Several analysts said that the streaming market in Europe and the United States had become too saturated for companies in the industry to continue their rapid growth trajectory, while fierce competition among companies suggested that the performance of the industry as a whole could be worse.

• Entering Indian social commerce, Amazon.Com Inc acquired start-up company GlowRoad

People familiar with the matter said$Amazon.Com Inc (AMZN.US) $It is now exploring social commerce in India through an all-cash acquisition of social commerce startup GlowRoad, a company spokesman confirmed. GlowRoad sells products to customers at wholesale prices and helps them resell them on Facebook Inc and WhatsApp. It also provides them with logistics networks and collection functions.

• Apple Inc: iPhone no longer comes with charging plugs, saving 550000 tons of ore.

$Apple Inc (AAPL.US) $It has been estimated that 550000 tons of copper, tin and zinc mines have been reduced since charging plugs are no longer included in iPhone 12's packaging. It is reported that the power adapter requires a lot of materials such as plastic, copper, tin and zinc, and the cancellation of the power adapter helped Apple Inc avoid more than 2 million tons of carbon emissions. According to some analysts, this has saved the company a total of at least 5 billion pounds, including not only the reduced cost of charging plugs, but also reduced shipping costs and an additional 225 million pounds from accessories sales.

Last Friday, US stock turnover TOP20

The Prospect of Hong Kong City

• Beishui bought nearly HK $1 billion last Friday for the 14th day in a row.

On Friday, April 22, a net purchase of HK $3.284 billion was made by southbound funds. Meituan-W, Tencent and ANTA Sports Products received a net purchase of HK $971 million, HK $674 million and HK $243 million respectively. In terms of net sales, XIAOMI Group-W, China Construction Bank Corporation and Industrial and Commercial Bank of China received net sales of HK $142 million, HK $137 million and HK $68 million respectively.

• Shanghai Stock Exchange: the stock list of Hong Kong Stock Connect has been transferred to Li Auto Inc., Huaxin cement and Rongchang Bio, effective today.

The Shanghai Stock Exchange announced that in accordance with the relevant provisions of the Shanghai Stock Exchange measures for the implementation of the Shanghai-Hong Kong Stock Connect, the list of shares of the Shanghai-Hong Kong Stock Connect has been transferred into the stock list.$Li Auto Inc.-W (02015.HK) $ 、Huaxin cement (06655.HK) $ 及$Rongchang Bio-B (09995.HK) $And will take effect today (April 25).

• China Merchants Bank: Q1 net profit increased by 12.52% over the same period last year to 36 billion yuan

$China Merchants Bank (03968.HK) $According to the first quarterly report of 2022, revenue reached 91.99 billion yuan during the reporting period, an increase of 8.54% over the same period last year, and net profit was 36.022 billion yuan, up 12.52% from the same period last year.

• Byd Company Limited: it is proposed to use RMB 1.8 billion to 1.85 billion yuan to buy back shares for employee shareholding

$Byd Company Limited (01211.HK) $Notice, the company intends to buy back all A shares for the employee stock ownership plan, the proposed repurchase amount is not more than 1.85 billion yuan (RMB, the same below), not less than 1.8 billion yuan, the repurchase price does not exceed 300 yuan per share. The total number of participants in the employee stock ownership plan does not exceed 12000. The employee stock ownership plan will accept the shares of the company to be repurchased by the company through non-trading transfer and other laws and regulations, and the transfer price is 0 yuan per share, and the participants do not need to contribute.

Focus today

Key words: Dallas Fed Business activity Index in April; Coca-Cola Company, Activision Blizzard earnings report

Monday,Economic dataThe Dallas Fed Business activity Index will be released in April.

Financial report，$Coca-Cola Company (KO.US) $、Activision Blizzard (ATVI.US) $The results will be announced one after another.

In terms of new sharesGold exploration company$Austin Gold Corp (AUST.US) $Will go public, the company plans to issue 3.3 million shares at a price of $4 for the IPO, which is expected to raise about $13.2 million.

Niuniu morning reading:

The first principle of investment is never to lose money, and the second principle is to remember the first principle.

-- Buffett