Global macroscopic
Futures on the three major stock indexes rose collectively before the US stock market on Tuesday
As investor sentiment continued to improve, the three major futures indices rose collectively. Dow futures and S&P 500 futures rose nearly 1%, and NASDAQ futures rose 0.77%.
Yellen shouted loudly: If necessary, more intervention will be introduced to stop the banking crisis from spreading!
US Treasury Secretary Yellen said that if the banking crisis worsens, the government is prepared to provide further guarantees for deposits. Allegedly, the measures we have taken are not meant to help a specific bank or category of banks. Our intervention is necessary to protect the broader US banking system. Similar action may also be necessary if smaller institutions face a deposit rush and there is a risk of spread.
J.P. Morgan: The Federal Reserve may revise its forward-looking guidelines, and US stocks may have peaked in the first quarter
The banking turmoil in Europe and the US is rising one after another. J.P. Morgan believes that this week, the Federal Reserve should change its forward-looking guidance that “it will be appropriate to continue raising interest rates” and instead suggest that monetary policy will continue to be tightened. The bank expects Powell to reverse the statement that “terminal interest rates may be higher” at previous hearings, while continuing to emphasize the Fed's commitment to curb inflation. Furthermore, Xiao Mo insisted that the stock market may reach this year's high in the first quarter. Although some markets are oversold in the short term and there may be a rebound, it is recommended to sell when there is a rebound.
It's still too early for US stocks to hit bottom! BlackRock strategists list two negative factors
BlackRock said that as chaos continues in the global banking industry, it is currently impossible to assert that the stock market has bottomed out. The strategist team said that small regional banks will “feel more pain”, which will lead to a slowdown in credit growth and further squeeze the impetus for economic growth. It also pointed out another negative factor facing the stock market: increased government intervention. The US federal government has stepped up its intervention in the financial system to prevent more bank swings and control the asset risks of small banks that were once considered systemically unimportant, and people will be more strict in their future regulations.
Will the “Great Depression” hit again? Musk shouted at the Federal Reserve: cut interest rates by at least 50 basis points!
US hedge fund mogul Bill Ackman tweeted that the Federal Reserve should suspend interest rate hikes on Wednesday because the banking crisis has not been resolved and has “clearly tightened the financial situation.” In response, Tesla CEO Musk underneath called on the Federal Reserve to cut interest rates by at least 50 basis points in its interest rate decision early Thursday morning. Musk also believes that if the Federal Reserve fails to stop regional banks from collapsing after Silicon Valley banks go bankrupt, there is a “serious risk” of another Great Depression.
The US senator “attacked” the Federal Reserve, and the board structure of regional federal banks may usher in drastic changes
After the Bank of Silicon Valley thunderstorm, the Federal Reserve, as the banking regulator, was questioned. One of the most controversial points was that Greg Becker, CEO of Silicon Valley Bank, was a member of the San Francisco Federal Reserve Board of Directors for a long time and did not leave office until the day Silicon Valley Bank went bankrupt. US Senator Bernie Sanders recently stated that he plans to propose a bill prohibiting large bank executives from serving on the board of directors responsible for supervising their regional federal banks. Democrat Chris Van Hollen, a member of the Senate Banking Committee, also said that given the role of Silicon Valley Bank CEO in the San Francisco Federal Reserve, the structure of the Federal Reserve should be reconsidered.
The most bullish hedge fund commodity director: the banking crisis is not enough to crush commodities
Sebastian Barrack, head of commodities at Citadel, the biggest hedge fund in the US, said in this regard that it is expected that the credit environment will tighten after the recent banking crisis. However, up to now, the economic downturn has not been enough to plunge the commodity market into the abyss. It added that banks will probably tighten regulations and raise capital ratios soon, which will slow down loan approval. However, since the current risk is not systematic, and most commodity loans are secured, it will not have a significant impact on the commodity industry.
Hot news
Star Technology's stock rose collectively before the market
US stock bank stocks rose collectively before the market
Before the US stock market, First Republic Bank rose more than 23%, UBS rose nearly 8%, Deutsche Bank rose more than 6%, New York Community Bank rose more than 5%, and Credit Suisse rose more than 3%.
A historic moment! Tesla Ratings Get Rid of “Junk” and Move to Blue Chips
After S&P, Moody's became the second giver$Tesla (TSLA.US)$A credit rating agency for investment grade ratings. On Monday evening EST, Moody's raised Tesla's credit score from Ba1 (the highest level of junk debt) to Baa3 (the lowest level of investment grade debt), and the outlook was “stable.” As of press release, Tesla rose more than 2% before the market.
Consolidation is risky! Moody's, S&P downgrade UBS Group's rating outlook to “negative”
Moody's, one of the world's top three rating agencies, will$UBS Group (UBS.US)$The rating outlook for long-term deposits and preferential unsecured debt was downgraded to “negative.” Coincidentally, after UBS Group announced the acquisition of Credit Suisse, S&P Global Ratings downgraded UBS's credit rating outlook from “stable” to “negative,” and confirmed UBS Group's long-term credit rating as “A-.” S&P believes that the risks associated with the integration of the two companies will put pressure on UBS Group's credit situation, so it has decided to downgrade UBS's rating outlook.
First Republic Bank rose more than 23% before the market, and the US is considering expanding deposit insurance to all deposits
$First Republic Bank (FRC.US)$It rose more than 23% before the market. According to reports, US officials are studying ways to temporarily expand the insurance coverage of the Federal Deposit Insurance Corporation (FDIC) to all deposits. The move will help ease the crowding pressure on regional banks.
Sales soared 50% in February, and Tesla “killed crazy” on the European battlefield!
On Tuesday local time, data released by the European Automobile Manufacturers Association (ACEA) showed that$Tesla (TSLA.US)$The number of new car registrations in EU countries reached 19,249 in February, an increase of about 49.7% over 1,8860 in the same period last year, and a year-on-month growth rate of 1.73%.
Meta rose nearly 3% before the market, and Morgan Stanley raised its rating to overrun
$Meta Platforms (META.US)$It rose nearly 3% before the market, after Morgan Stanley upgraded its Meta rating from flat to overallocated on the grounds that the company was actively cutting costs. The bank's analysts believe that Mark Zuckerberg will continue to cut costs until 2023. They also said that this is a “structural and cultural shift” for Meta. Meta now focuses more on investor returns and can set an example for other tech giants such as Amazon and Google's parent company Alphabet.
According to the news, Google has begun inviting some Pixel users to test the chatbot Bard
According to the media,$Alphabet-A (GOOGL.US)$After launching the chatbot Bard, employees have been asked to step up their testing efforts, and the company recently sent an email to Pixel Superfan community members inviting some Pixel users to test Bard. Earlier, Google said it would test Bard through the Trusted Tester project.
UBS: Raising Microsoft's target price to $275, rating neutral
According to a report published by UBS,$Microsoft (MSFT.US)$By launching the AI tool M365 Copilot, we will show how artificial intelligence will be added to its core Office and M365 programs. This technology significantly increases productivity. It can create presentations, filter and summarize emails, draft Word documents, create Excel templates, etc. The presentations are also impressive. According to UBS, considering the development potential of OpenAI, the target price was raised from 250 US dollars to 275 US dollars, and the rating was neutral.
Focus on China Securities
Most of the popular Chinese securities stocks rose before the market
Pinduoduo fell more than 2% before the market, and Google temporarily removed the official Pinduoduo app
$PDD Holdings (PDD.US)$There was a drop of more than 2% before the market. Previously, Google flagged several apps developed by Pinduoduo as malware and temporarily removed Pinduoduo's official apps. In response, Pinduoduo issued a statement via email stating that it strongly opposes the act of labeling its application as malware.
Tencent Music once rose more than 3% before the market, and its total revenue for the fourth quarter reached 7.43 billion yuan
$Tencent Music (TME.US)$Fourth quarter revenue was 7.43 billion yuan and net profit was 1.15 billion yuan, up 114.7% year on year; adjusted net profit was 1.44 billion yuan, up 72.8% year on year. Tencent Music once rose more than 3% before the market. As of press release, the company is now down more than 1%.
Artus Solar rose more than 9% before the market, and its Q4 performance beat expectations
$Canadian Solar (CSIQ.US)$Financial reports show that the company's Q4 revenue was 1.97 billion US dollars, up 29% from the previous year, in line with analysts' expectations of 1.97 billion US dollars; net profit attributable to the company was 78 million US dollars, 26 million US dollars in the same period last year; earnings per diluted share were 1.11 US dollars, 0.39 US dollars in the same period last year, and analysts expected 0.97 US dollars. Looking ahead, the company expects revenue in the first quarter of 2023 to be between $1.6 billion and $1.8 billion, and gross margin of 18% to 20%.
Top 20 pre-market turnover of US stocks
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Editor/Somer