Hot news

• "New Federal Reserve News Agency" rewrote: "higher interest rates last longer", US stocks and US Treasuries fell

Wall Street Journal reporter Nick Timiraos, known as the New Federal Reserve News Agency, believes that rapid wage growth could lead Fed officials to consider raising the policy rate above 5% next year. This means that due to rising wage pressures, the Fed is likely to raise the terminal interest rate for this round of rate hikes to higher levels than currently expected by the market.

• Us ISM non-manufacturing sector unexpectedly rose to 56.5 in November. Markit service industry shrank for the fifth month in a row.

The US ISM non-manufacturing index unexpectedly rose to 56.5 in November, with business activity rising at its fastest pace since March 2021. The figure contrasts with ISM manufacturing released last week and Markit services released on the same day. In November, the final values of Markit service industry and comprehensive PMI in the United States reached the lowest level since August, and both shrank for five consecutive months.

• After accurately predicting the current rally in US stocks two months ago, Wall Street "big bears" began to be bearish.

Two months ago, Mike Wilson, chief US equity strategist at Morgan Stanley, one of the big bears on Wall Street, accurately predicted the rebound in US stocks, but now his point of view has changed. Wilson believes that the current "bear market rally" is coming to an end, and US stocks will hit new lows next year, and he advises investors to "take profits before the bear market returns".

Wilson believes there is a growing hope that the Fed will turn before it is too late, that is, the Fed's shift is likely to avoid a recession and expand corporate profits. Wilson expects inflation to fall rapidly in 2023.

• Global markets focused on "Buy China"; Morgan Stanley upgraded China's stock market for the first time in nearly two years, with institutions shouting: it's time to return to the Chinese stock market!

The voice of "recovery cow" is getting louder and louder. A shares and Hong Kong stocks rose together, the RMB pulled thousands of points, offshore both broke the "7", Chinese assets ushered in a surge across the board. Morgan Stanley is bullish on China's stock market again after nearly two years, joining a growing number of Wall Street banks that are optimistic about China's economic prospects. "there is now more confidence that a new bull market cycle is beginning. "

• Many countries responded to the "Russian oil price limit": Japan synchronized, Britain warned that India stayed out of the matter.

The EU ban on Russian oil has come into effect. The response of countries is as follows. Japan: I also limit the price. India, Turkey: none of my business. UK: the media have warned loudly that price restrictions will make Europe suffer the consequences. China: all parties should make efforts to ensure the security of global energy supply. Previously, OPEC+ kept production unchanged, but said it was "ready to take action". Under the ban, the decline in Russian oil exports will largely determine the trend of oil prices in 2023. If the market is not going well, OPEC+ is likely to intervene.

Review of US stocks

• The rising momentum took a break, the three major indexes closed down collectively, and large technology stocks fell across the board.

The three major indexes of u.s. stocks all closed sharply lower, with the Nasdaq down 1.93%, the s & p 500 down 1.79% and the Dow down 1.4%. Among them, the Nasdaq and the S & P 500 both posted their biggest one-day declines since November 10. Large technology stocks fell across the board, with Amazon.Com Inc down more than 3%, Netflix Inc down more than 2%, Microsoft Corp down more than 1%, Apple Inc, Alphabet Inc-CL C and Facebook down slightly. Energy stocks fell collectively, with Exxon Mobil Corp, Chevron Corp, ConocoPhillips, Schlumberger and Occidental down more than 2 per cent.

• Popular Chinese stocks vary, with Full Truck Alliance Co. Ltd. falling by more than 8%

Most popular Chinese stocks fell, with the Nasdaq china golden dragon index falling 0.30%. IQIYI, Inc. fell by more than 5%, Li Auto Inc., NetEase, Inc and NIO Inc. fell by more than 2%, XPeng Inc. fell by more than 1%, and Bilibili Inc. fell slightly. Baidu, Inc. rose nearly 3%, Pinduoduo nearly 2%, and JD.com, BABA and Tencent Music rose slightly.

• Tesla, Inc. China: it is not true to take the initiative to reduce production
  

There were rumors on Monday that Tesla, Inc. planned to reduce production at his shanghai factory, which could reduce Tesla, Inc. 's shanghai plant by about 20% this month, the first time Tesla, Inc. has voluntarily reduced production at his shanghai factory. Tesla, Inc., a relevant person in China, told the media on the evening of December 5 that after internal confirmation, it can be made clear that the above claims about production reduction are not true. Although the rumors were cleared up, Tesla, Inc. closed down 6.37% on Monday, the biggest one-day drop in nearly two weeks, dragged down by market sentiment.

• Guo Mingyi: Apple Inc XR head delayed the launch, annual shipments will be less than 500000

Guo Mingyi of Tianfeng International said in a Twitter post that due to "software-related problems"$Apple (AAPL.US)$Shipments of MR head display devices may be delayed to the second half of 2023, later than the previous estimate for the second quarter of 2023. It is uncertain whether the press conference will be postponed.

• To be nice to Sony Group Corp, President Microsoft Corp proposed to update the call of Duty synchronously in the next ten years.

According to media reports$Microsoft (MSFT.US)$President Brad Smith said that in order to allay Sony Group Corp's doubts about the company's acquisition of Activision Blizzard, Microsoft Corp has offered a 10-year contract to competitors to ensure that the new popular IP call of Duty$Sony (SONY.US)$PlayStation updates synchronously with Microsoft Corp Xbox.

• Salesforce.com IncLead the Dow downSlack founder and CEO will leave the company

CRM software service provider$Salesforce (CRM.US)$There was another high-level change on Monday. Stuart Butterfield, founder and CEO of Slack, the company's communications app, announced that he would leave the company next month, along with Slack's executives in charge of products, markets and brands. Just last week, Salesforce.com Inc's co-CEO Brent Taylor also announced that he would leave the company next month, but Butterfield said his departure had nothing to do with Taylor. Salesforce.com Inc closed down 7.35% on Monday, leading Dow stocks lower.

• PepsiCo Inc to lay off hundreds of headquarters employees of North American snack and Beverage Business

According to people familiar with the matter and documents seen, it is reported that$Coca-Cola (KO.US)$Hundreds of North American snack and beverage headquarters employees will be laid off. The job cuts will affect PepsiCo Inc's North American beverage business headquarters in Purchase, New York, and snack and packaged food business headquarters in Chicago and Plano, Texas.

• Pinterest will slow down recruitment

American social media platform$Pinterest (PINS.US)$A spokesman confirmed that Pinterest will slow down hiring for the rest of the year and cut the number of staff on some hiring teams. The spokesman did not specify how many people had been laid off.

• Neuralink, a Musk brain-computer interface company, faces a federal investigation accused of violating animal protection laws

According to information and documents released by people familiar with the investigation and the company's operations, Musk's brain-computer interface company Neuralink faces a federal investigation accused of violating the Animal Protection Act (AWA). At the request of a federal prosecutor, an Attorney General of the United States Department of Agriculture (USDA) has launched an investigation in recent months. According to the USDA website, AWA, which was signed as a legal document on August 24, 1966, is the only law at the federal level to regulate the situation of animals for research, teaching, testing, exhibition, transportation and other purposes.

Yesterday's turnover of US stocks TOP20

The Prospect of Hong Kong City

• Beishui sold Tencent nearly 2 billion Hong Kong dollars, and continued to increase the position of Kuaishou Technology against the trend.

On Monday, southbound funds sold a net of 1.418 billion yuan.

Tencent, XIAOMI Group-W and Li Ning Co. Ltd. received a net sale of HK $1.966 billion, HK $914 million and HK $464 million respectively.

Kuaishou Technology-W, Byd Company Limited, Alibaba Health Information Technology and China Mobile Limited made a net purchase of HK $653 million, HK $289 million, HK $268 million and HK $245 million respectively.

Focus today

Key words: us October trade account, RBA announces interest rate resolution; car zone earnings report

On Tuesday, in terms of economic dataInvestors can focus on data such as the US trade account for October and the New York Fed global supply chain stress index in November.

Or the US trade deficit in September was 73.28 billion US dollars and is expected to be 72.2 billion US dollars, compared with a previous value of 65.6 billion US dollars. The US trade account for October will be released on December 6th and will continue to record a trade deficit.

Incident aspectInvestors can also look for clues for central banks in other parts of the world to raise interest rates when the RBA announces interest rate decisions.

According to a Reuters survey, 30 economists surveyed believe that the RBA will raise interest rates by another 25 basis points to 3.10% on December 6, which will be the third time in a row that the central bank has raised interest rates by 25 basis points. It has previously raised interest rates by 50 basis points four times in a row.

Financial reportAuto parts seller$AutoZone (AZO.US)$The financial results will be announced.

Niuniu morning reading:

Investment without research, like playing poker and never looking at cards, is bound to fail.

-- Peter Lynch