Hot news

• Another big bank is bullish! Morgan Stanley: Chinese stocks will outperform the world

After upgrading Chinese stocks for the first time in nearly two years, Morgan Stanley once again took a clear-cut stand on Chinese stocks. On Thursday, Morgan Stanley said that China's stock market will outperform the vast number of emerging markets, or even its global counterparts, as the Chinese government's decisive measures to continue to improve epidemic prevention and control will continue to help market sentiment recover. This is the second time in a week that Morgan Stanley is bullish on Chinese stocks.

• The heaviest data before the Fed raises interest rates in December will be announced next week in November CPI in the United States. What do Wall Street think?

The November CPI in the United States is scheduled to be released next Tuesday, December 13. The day after its announcement, the Fed will announce the decision of its December monetary policy meeting. UBS believes that both overall and core CPI will confirm slower growth in November and will not rebound in the next month, as in March and July this year. Barclays believes that energy prices drive a slowdown in overall CPI, core services inflation slows, but not slowly, and core commodities will continue to deflate.

• Deutsche Bank's DWS: although the pace of raising interest rates is expected to slow, the Fed is unlikely to turn to doves

Economists at Deutsche Bank's asset management subsidiary DWS said in a report that the Fed was expected to raise interest rates slightly by 50 basis points at its December 13-14 meeting, but that should not be seen as a shift to a more moderate policy stance. The Fed's latest forecast is likely to reflect a slowdown, but it will also reflect the Fed's willingness to accept low growth and high interest rates in 2023, he said. The fed's bitmap may show interest rates peaking at just over 5%, while economic growth may be cut below 0.5% next year.

• Morgan Stanley: the economic downturn will bring risks to value stocks

Mike Wilson, chief investment officer of Morgan Stanley, said the bear market that hit growth stocks this year is now threatening value stocks in the industrial, financial and energy sectors that investors use as a safe haven. The problem with value stocks now is that they may be as vulnerable to an economic slowdown as they were six or 12 months ago. In its view, at this stage of the economic cycle, there is not much difference between value stocks and growth stocks, unless you are talking about defensive parts of value stocks, such as utilities, essential consumer goods and health care stocks.

• And then cool down inflation! Gasoline prices in the United States fell year on year, and the price of used cars fell the biggest in history.

Inflation in the United States is expected to cool again, and gasoline prices in the United States have fallen from a year earlier, down 1/3 from the year's high. Analysts predict that by the end of this year, most Americans are likely to have a two-character gasoline price. Data from the same day showed that the value index of used cars in the United States Manheim plunged 14.2% from a year ago, the biggest one-month drop in history.

• Ignore Wall Street warnings! Us Treasury Secretary Yellen insists that the US economy can avoid recession

Us Treasury Secretary Yellen said on Thursday that although analysts and investors generally expect the US economy to fall back into recession, she still believes that a recession can be avoided because there is no wage-price spiral yet. And supply chain bottlenecks have begun to ease. 'i believe the answer is yes to whether we can avoid a recession, 'Ms. Yellen said in an interview.

• The "oil delivery artery" of Canada and the United States was shut down, and supply concerns caused US oil to rise by more than 4% at one point.

TC Energy announced on its website on Thursday that it had closed the Keystone pipeline between the United States and Canada because of a pipeline leak. The Keystone pipeline is one of the main pipelines for Canada to export crude oil to the United States. Affected by this, the price of WTI crude oil futures in the United States rose by more than 4% at one time, but then returned to the recent continuous decline.

Review of US stocks

• The three major indexes collectively closed higher, while US-listed stocks and chip stocks rose strongly, while BABA and NVIDIA Corp rose more than 6%.

Us stocks finally rallied on Thursday, with the Nasdaq up 1.13%, the S & P 500 up 0.75% and the Dow up 0.55%.

The Nasdaq China Golden Dragon Index closed up 5.62%, reaching a new closing high in nearly three months.Bilibili Inc. rose by nearly 8%, BABA and Pinduoduo by more than 6%, and JD.com by more than 3%.Most large technology stocks are upAmazon.Com Inc rose by more than 2%, Apple Inc and Microsoft Corp by more than 1%.Chip stocks lead the technology sector higherNVIDIA Corp rose by more than 6%, Qualcomm Inc and Micron Technology Inc by more than 2%.

• The richest man in the world changed ownership? Musk's wealth is surpassed by LV boss.

Overnight, American stocks were in intraday trading.$Tesla (TSLA.US)$Mr Musk, the chief executive, has once again lost his position as the richest man in the world on the Forbes list, with his net worth surpassed by Arnault, chairman of LVMH. Musk has a net worth of $185 billion, while the Bernard Arnault family, chief executive of LV, has a net worth of $186.2 billion, according to Forbes. Musk lost his position as the world's richest man on the Forbes list of the richest people in the US stock market on Wednesday.

• Hit him in the face, Biden! Exxon Mobil Corp launches a $50 billion buyback plan

On Thursday, December 8th, $Exxon Mobil Corp (XOM.US) $announced that it would expand its share buyback program to $50 billion by 2024. In addition, the company has set a capital budget of about $24 billion for next year. The Biden administration has repeatedly criticized American oil companies not only for "making war money", but also for failing to find ways to help ease inflation in the United States. By the close of tradingExxon Mobil Corp is up nearly 1%, and has risen more than 77% this year.

• American antitrust regulators step in! FTC sued, promising to stop Microsoft Corp from acquiring Blizzard.

On Thursday, December 8, US Eastern time, the Federal Trade Commission (FTC) announced that the FTC committee decided by a vote of three to one to file an antitrust lawsuit against $Microsoft Corp (MSFT.US) $acquisition of the world's leading video game developer $Activision Blizzard (ATVI.US) $, seeking to block the largest acquisition in the history of the micro-soft and the video game industry.

• Amazon.Com Inc launched an information stream similar to TikTok for some users.

According to local media reports on Thursday,$Amazon (AMZN.US)$It is launching a feature similar to TikTok (overseas version of Douyin) in its app, which allows users to buy products from launched photos and videos. Amazon.Com Inc said the company launched the feature to some users on Thursday and plans to promote it across the United States in the coming months. The company's feature portal, named Inspire, will continuously display photos and videos of its products, which can be purchased through the app.

• FDA approves bivalent COVID-19 vaccine for infants aged from 6 months to 5 years old

On Thursday, the US Food and Drug Administration (FDA) announced that it would$Moderna (MRNA.US)$和$Pfizer (PFE.US)$/$BioNTech (BNTX.US)$The emergency use authorization of COVID-19 bivalent vaccine has been extended to babies as young as 6 months old. After FDA nodded, the decision still needs to be approved by the CDC of the United States. According to FDA, the bivalent vaccine is only suitable for the "third dose" vaccination, and for children who have completed the third dose vaccination, the "fourth dose" is not needed for the time being.

• Guo Mingyi: Twitter withdrew the order server, Intel Corp's profit was affected.

Guo Mingyi, an analyst at Tianfeng International Securities, said$Twitter (TWTR.US)$Withdraw about 80% of server orders, and almost all of its servers use$Intel (INTC.US)$Processor. Guo Mingyi said that withdrawing the order is not conducive to Intel Corp's operating income and profit in 2023. He believes that the worst time in the server market is yet to come, the server market shipments may decline in 2023, the performance is lower than market expectations, and there is still a potential risk of order withdrawal for shipments of key components.

Yesterday's turnover of US stocks TOP20

The Prospect of Hong Kong City

• The increase of Tencent in Beishui is more than HK $500m, and the purchases of Kuaishou Technology and Meituan are both over HK $200m.

On Thursday, southbound funds sold a net HK $424 million. China Mobile Limited, New Oriental Education & Technology Group online and Chinese traditional medicine received a net sale of HK $433 million, HK $230 million and HK $131 million respectively. Tencent, XPeng Inc., Kuaishou Technology and Meituan received a net purchase of HK $503 million, HK $289 million, HK $256 million and HK $250 million respectively.

Focus today

Key words: China CPI, PPI; US November PPI, December University of Michigan Consumer confidence Index; Li Auto Inc. Financial report

On Friday, the Labor Department will release November PPI data. Although this report is not as good as the CPI and PCE reports to directly reflect the price pressure on the consumer side, it still allows market participants to see if the supply chain is improving.

Financial report$Li Auto (LI.US)$The financial report will be announced.

In terms of new shares$Sunshine Insurance Group (06963.HK)$Will be listed$GAUSH MEDITECH (02407.HK)$Wait for the result of the lottery to be announced.

Niuniu morning reading:

Behind every stock is a company to find out what the company is doing.

-- Peter Lynch