Futu Information 2019.6.28 US stocks have big headlines:

Apple Inc veteran chief design officer left to start a new company.

Apple Inc announced on Thursday that Jony Ive, chief design officer, would leave the company. Ivy is considered to be one of the most important figures in Apple Inc, responsible for the industrial design and appearance of all Apple Inc's major products, including iPhone and Mac. He has worked in Apple Inc for more than 20 years.

He will start his own design company, LoveFrom, with an old friend and designer Marc Newson. Apple Inc said the company will become its customer.

"Johnny is a legend in the design world," Cook said in a statement. "Johnny made a great contribution to the revival of Apple Inc, from the pioneering iMac in 1998 to the later iPhone, as well as the unprecedented Apple Park design, on which he spent a lot of time and energy."

Tax cuts for the rich? Trump considers cutting capital gains tax by bypassing Congress

Trump is considering cutting the capital gains tax by bypassing Congress and linking it to inflation, Bloomberg said on Thursday, citing people familiar with the matter. To put it simply, the tax on the income of wealthy investors from the sale of stocks, real estate and other assets is based on the adjusted original purchase price, while the appreciation of inflation is not taxed.

Bloomberg said that making plans through executive orders or rule changes may face legal challenges, and the previous Bush administration had the same plan and eventually abandoned it. At present, government officials are divided over whether to continue to take action. The White House has not yet consulted the Justice Department on the legality of the action. Larry Kudlow, Trump's chief economic adviser, has long supported a reduction in capital gains tax, saying it will increase income.

However, a growing number of White House officials have reached a consensus to move forward with the proposal as soon as possible to ensure it takes effect before Trump faces re-election in 2020, according to people familiar with the matter.

The results of the stress tests boosted confidence, and large banks paid more dividends and buybacks

Big US banks have paid higher dividends to investors and bought back shares after passing the Fed's annual stress test.

• Goldman Sachs Group raised the quarterly dividend by nearly 50 per cent from 85 cents a share to $1.25 a share and approved a $7 billion share buyback plan, up from $5 billion a year ago.

• JPMorgan Chase & Co raised the dividend by 13%, from 80 cents a share to 90 cents a share. Under a new plan, JPMorgan Chase & Co can also buy back up to $29.4 billion in shares, up from $20.7 billion last year.

• Bank of America Corporation raised the dividend from 15 cents a share to 18 cents a share and can buy back $30.9 billion worth of shares. Wells Fargo & Co raised the dividend to 51 cents a share from 45 cents a share and can buy back $23.1 billion of shares.

• Citigroup Inc raised the dividend to 51 cents a share from 45 cents a share and can buy back $21.5 billion of shares. Morgan Stanley raised the dividend to 35 cents a share from 30 cents a share and can buy back $6 billion of shares.

The Fed said that of the 18 large institutions tested by the Fed, with the exception of the US arm of Credit Suisse, 18 were approved to raise dividends. Credit Suisse has weaknesses in its capital planning process and needs to submit a revised version of its capital plan. Although Credit Suisse was the most well-capitalized bank in the stress tests, U. S. officials said they were not satisfied with the way the company predicted trading losses during a severe downturn.

Randal Quarles, vice chairman of the Federal Reserve, said: "Stress tests have confirmed that the largest banks are well capitalised and attach great importance to strong capital planning practices. The results show that these companies and our financial system are resilient in normal times and under pressure.」。

White House economic adviser Kudlow: the Federal Reserve will cut interest rates soon

On Thursday, Mr. Cudlow predicted that the Fed would soon cut its benchmark short-term interest rate. In an interview with Fox News, he added: "this is not only my personal view, but also not just the president's point of view." The market is sending this message to the Fed. By the way,I think the Fed will make good on that promise.". According to the media, Kudlow and Federal Reserve Chairman Powell are private good friends and often eat together without an assistant.

Investors have digested expectations that the Fed will cut interest rates by at least 25 basis points at its next meeting at the end of July, with 20 per cent expecting the Fed to cut interest rates by 50 basis points, according to the Fed watchdog of the CME Group Inc Group. James Bullard, president of the Federal Reserve Bank of St. Louis, supports a 25 basis point increase in interest rates, saying the 50 basis point move would be too radical.

Snap Inc is up 165% this year, causing short sellers to lose $1 billion.

Snap Inc, a social software company, rebounded strongly this year, leaving short sellers with heavy losses and busy covering short positions. Ihor Dassanishki, an analyst at S3 Partners, said Snap Inc's short sellers had been shorting since February, and the number of Snap Inc shares shorted fell more than 50 per cent to 75.1 million shares. At present, the short selling interest rate of Snap Inc's tradable shares is about 8 per cent.

As of Thursday night, short sellers had posted paper losses of $1.02 billion this year. Snap Inc has risen 165% so far this year as the company launches a new version of Android App and user growth tends to stabilize.

Snap Inc has always been the focus of short sellers, is the fifth most often short mark after Facebook Inc, Alphabet Inc-CL C, Match and Zillow. For now, short selling will continue if share prices continue to rise, but as long as the rally shows signs of abating, the bears are likely to make a comeback.