Hot news

• The United States will release 10 million barrels of SPR in November and consider more countermeasures against OPEC+

The White House announced that US President Joe Biden was disappointed by the "short-sighted behavior" of OPEC+ production cuts. The U.S. Department of Energy will release 10 million barrels of SPR in November. The Biden administration will consult with Congress on how to reduce OPEC+ control over energy prices. The media said that the United States may then introduce more countermeasures, such as export bans on some products. It is understood that OPEC+ will hold its next meeting in November.

• Fed Daley: the Fed is determined to raise interest rates to a restricted range

Daley, president of the San Francisco Fed, said that the Fed is determined to raise interest rates to control inflation; the Fed is determined to raise interest rates to a restricted range and is committed to reducing inflation until we really reach our inflation target. She said the Fed would raise interest rates and keep them unchanged until inflation was close to 2 per cent and considered it necessary to raise interest rates further. Daley expects inflation to be close to 3 per cent next year instead of 2 per cent, saying he must be prepared for high inflation to be longer-lasting than we expected.

• Fed Bostick: hope the Fed will achieve interest rates of 4% to 4.5% by the end of the year

Bostick, president of the Atlanta Fed, said he hoped the Fed would achieve interest rates of 4% to 4.5% by the end of the year, and warned against changing direction "prematurely." It also said that if inflation did not return quickly to 2 per cent, the Fed should not "overreact" and that the baseline expectation was that the economy could withstand interest rates of 4 per cent to 4.5 per cent.

• Us ISM non-manufacturing index fell to 56.7 in September

Data released on Wednesday October 5th showed that the US ISM non-manufacturing index fell to 56.7 in September, higher than the market consensus of 56.0, but slightly lower than the previous reading of 56.9. Anthony Nieves, chairman of ISM, said the index showed that the United States had improved in terms of supply chain efficiency, operational capacity and material availability, but the performance was still poor, and employment continued to improve despite labor market constraints. The final value of the comprehensive PMI of the US Markit in September released on the same day was 49.5, expected to be 49.3, and the previous value was 49.3. In September, the final PMI value of the Markit service industry in the United States was 49.3, expected to be 49.2, and the previous value was 49.2.

• Us ADP employment rose by 208000 more than expected in September

The September employment data released by ADP, a human resources company, showed that U.S. employment rose by 208000 for the month, higher than the market expectation of an increase of 200000 and a previous figure of 132000 (revised 185000). However, the market is worried that if the US economy, especially the labor force data, continues to be strong, the Fed will go further and further on the road of aggressive rate hikes, bringing greater impact and uncertainty to the market.

• The WTO expects global trade growth to slow sharply in 2023

On October 5, local time, the World Trade Organization released an updated report on trade forecasts in Geneva. As multiple shocks put pressure on the global economy, the WTO expects global trade to lose momentum in the second half of 2022 and remain depressed in 2023. The WTO expects global merchandise trade to grow by 3.5 per cent in 2022, slightly higher than the 3.0 per cent forecast in April, but is expected to grow by only 1 per cent in 2023, well below the previous estimate of 3.4 per cent. Global GDP is expected to grow by 2.8 per cent in 2022 and 2.3 per cent in 2023.

• The US trade deficit in August was $67.4 billion, the lowest since May 2021.

Data released on Wednesday showed that the US trade deficit in August was $67.4 billion, the smallest since May 2021 and slightly below market expectations of $67.7 billion and a previous value of $70.6 billion. Specifically, the United States exported $258.9 billion and imported $326.3 billion in August.

• Qatar: LNG will be in short supply in the next few years, and oil demand will not peak soon

Saad Al-Kaabi, Qatar's energy minister, said on Wednesday that liquefied natural gas (LNG) would be in short supply in the coming years as production lagged behind soaring demand in Europe. He also said that natural gas demand is unlikely to peak in the next 20-30 years, and oil demand will not peak any time soon. At present, Qatar is one of the world's leading producers and exporters of liquefied natural gas. After the outbreak of the conflict between Russia and Ukraine, Qatar's liquefied natural gas (LNG) has become a "lifesaver" that Europe is looking forward to.

Review of US stocks

• The hawks bet on raising interest rates, and the three major indexes of US stocks ended er Lianyang.
  

Due to renewed gains in US bond yields and the dollar, and uncertainty over the outlook for a Fed rate hike, US stocks opened lower, reversing the start of the fourth quarter, which has risen sharply over the past two days. At the close, the Dow was down 0.14%, the S & P 500 was down 0.20%, and the NASDAQ was down 0.25%.

Star technology stocks vary, with Apple Inc up 0.21%, Microsoft Corp up 0.13%, Alphabet Inc-CL C down 0.19%, Amazon.Com Inc down 0.12% and Meta down 0.93%.

• News: Musk and Twitter could reach an agreement by Thursday local time at the earliest

The source said$Tesla (TSLA.US)$CEO Musk and$Twitter (TWTR.US)$Continue negotiations on reaching an agreement, which could be reached as early as Wednesday, October 5, local time. Earlier, Musk confirmed that he had sent a letter to Twitter to press ahead with a deal to buy Twitter for $54.20 a share. He said he intended to continue to close the deal. Musk said in the letter that the proposal would depend on the postponement of the trial. Tesla, Inc. closed down more than 3% and fell another 0.44% as of press time.

• Amazon.Com Inc froze recruitment in retail business because of the slowdown in online sales.

According to people familiar with the matter$Amazon (AMZN.US)$Recruitment in the retail business will be suspended until the end of the year. The recruitment freeze is aimed at corporate positions in Amazon.Com Inc's global store department, not the warehouse network where most employees work, the person familiar with the matter said. It is the latest sign that the world's largest e-commerce company is adjusting its workforce to a slowdown in online sales, but the latest move will not affect the company's lucrative cloud services division.

• EU to provide 290 million euros to support Italian Semiconductor to build Semiconductor Factory in Italy

The European Commission said on Wednesday that it had approved an economic aid to Italy after the outbreak, providing 292.5 million euros to support$STMicroelectronics (STM.US)$To build a semiconductor factory in Italy. The plant, located in Catania, will mainly produce silicon carbide wafers, which are used as the base for microchips used in devices such as electric cars and fast charging stations. Vestager, the European Commission's executive vice president for competition, said the move was intended to strengthen Europe's semiconductor supply chain.

• The Swiss government may step in to rescue Credit Suisse, and the central bank has closely monitored the situation.

According to the media, the Swiss government may introduce a law to make it the second largest bank in the country.$Credit Suisse (CS.US)$Provide liquidity support. Both the SNB and financial regulators said they were closely monitoring the situation at Credit Suisse. As of press time, Credit Suisse rose 0.71% in after-hours trading.

• Oil service leader Schlumberger introduces sustainable battery-grade lithium compound production technology

Oil service faucet$Schlumberger (SLB.US)$Announced that a partnership has been established with Gradiant, a water treatment solution provider, to introduce a key sustainable technology into the production of battery-grade lithium compounds. As part of the direct lithium extraction (DLE) and production process of Schlumberger NeoLith, Gradiant technology is used to concentrate lithium solution and produce fresh water. Schlumberger closed up more than 6%, up 0.75% as of press time.

Yesterday's turnover of US stocks TOP20

The Prospect of Hong Kong City

• HKEx creates a new position of Chief Corporate Architecture Director, Mr Kan Ka-wah is appointed

Recently$HKEX (00388.HK)$A new senior position was created and personnel appointments were made. HKEx announces the appointment of Mark Carr as Managing Director and Chief Director of Corporate Architecture. Mr Kan will report to Mr Leung Songguang, Chief Technology Officer of HKEx Group.

• NIO Inc. 's first switching station in Germany will be put into trial operation

$NIO-SW (09866.HK)$Chairman Li Bin said that at present, the construction of NIO Inc. 's new energy exchange station in Europe is stepping up. NIO Inc. has already completed two exchange stations in Norway, and the company's first exchange station in Germany is about to be put into trial operation. a charging station in Gothenburg, Sweden, will also be completed by the end of 2022, which is expected to improve the level of power supply on the west coast of Sweden. In addition to changing the construction of power stations, NIO Inc. 's charging map in Europe has been connected to more than 380000 charging piles.

• In the mood for Love Group: in the mood for Love Cayman and Hong Kong winding-up proceedings have been postponed again

October fifth$FANTASIA (01777.HK)$The Group Co., Ltd. said through its official WeChat account that in terms of debt restructuring, the winding-up proceedings of Cayman and Hong Kong have been postponed again, and further investment intention agreements have been signed with investor Yue Min Investment. At the same time, we have reached agreement with major dollar creditors on basic commercial terms to ease the pressure on the company's debt, and the details will be further implemented in the future. The principal and interest of the domestic debt "20 pattern 01" is unconditionally extended for one year.

• Faba: first given Ganfeng Lithium's "buy" rating, with a reasonable value of HK $75 per share

According to a research report released by France and Pakistan, it is the first to$Ganfeng Lithium (01772.HK)$A "buy" rating with a reasonable value of HK $75 per share. The bank believes that the company will continue to benefit from the global trend of car electrification, believing that H shares are at a 37 per cent discount to A shares and 30 per cent discount to the bank's fair value estimates, but A shares are valued at a reasonable level. Thanks to the increase in the number and adoption rate of electric vehicles, lithium demand increased from 285000 tons of lithium carbonate equivalent (LCE) in 2019 to 473000 tons of LCE in 2021. Global lithium demand is expected to rise to 2.3 million tonnes of LCE by 2030, meaning a nearly fourfold increase.

• Superstar legend delivers the main board of the HKEx

Superstar Legend Holdings Limited (referred to as "Superstar Legend") submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Min Bank Capital as the exclusive sponsor, according to the Hong Kong Stock Exchange on Oct. 5. The company submitted its form to the HKEx on September 30, 2021 and March 31, 2022.

Focus today

Key words: the number of Americans applying for unemployment benefits at the beginning of the week; the ECB announces the minutes of its September monetary policy meeting

Thursday,In terms of financial dataThe number of initial jobless claims in the United States this week will be announced and is expected to remain depressed or even hit a new low. Initial claims for unemployment benefits fell to 193000 last week, the lowest since the week of April 23, 2022.

The euro zone can look at the monthly rate of retail sales and the minutes of the September monetary policy meeting released by the European Central Bank.

In terms of financial eventsIn 2024, Bostick, the FOMC voting committee, delivered a speech on the theme of resolutely fighting inflation. Bostick saidThe Fed is expected to achieve interest rates of 4% to 4.5% by the end of the year, and warns against changing direction "prematurely".

In terms of new sharesAmy Vaccine and China Innovation Airlines were listed on the Hong Kong Stock Exchange on Thursday.

In addition$HANG SENG BANK (00011.HK)$The financial report will be released.

Niuniu morning reading:

The stock market is a "voting machine" in the short term and a "weighing machine" in the long run.

-- Benjamin Graham