Trump's call for an interest rate cut was opposed by senior Fed officials; Walt Disney Company is suspected of fraud; NIO Inc. clarified that the unplanned autopilot business is merged with DiDi Global Inc.; and Apple Inc plans to launch the Apple TV+ service by the end of November.

Global macro

• The three major indexes rose slightly before the day.

• Senior Fed officials oppose Trump's call to cut interest rates by 100 basis points

On Monday night, Trump said in two tweets that the Fed should cut interest rates by at least 100 basis points and resume its plan to reduce long-term borrowing costs by buying bonds during the financial crisis. But Eric Rosengren, president of the Boston Fed, said he did not support further interest rate cuts and that the US economy was still in good shape and that easing could lead to more debt accumulation.

• NTT, Japan's largest telecom company, announces resumption of sale of Huawei's new handsets

NTT Docomo, Japan's largest telecom company, said on its website on Tuesday that it would resume accepting pre-orders for Huawei's P30 Pro smartphone from Wednesday. Earlier, Softbank Corp. and KDDI, two other major telecom operators, have announced that they will resume the sale of Huawei's new phones. In May, NTT docomo, Softbank Corp., KDDI and NTT docomo announced delays in the launch of Huawei's new phones for a variety of reasons.

• The second batch of domestic game version numbers were issued in August, Tencent and NetEase, Inc were in the list.

In August, the second batch of domestic game version numbers were issued this evening, a total of 31 games were approved, the approval time is August 19. Among them, Tencent's "Shadow in the Sky" and NetEase, Inc's "Top of the Green" and other games were approved. Most of the games issued this time are leisure puzzle games.

• A new round of price adjustment window for oil products will open.

According to the National Development and Reform Commission, a new round of price adjustment window for oil products will open at 24:00 today, with gasoline by RMB210and diesel by RMB205per ton. This price adjustment is the fifth reduction in the price adjustment window of domestic oil products in 2019.

• European stock markets are mixed.

As of 20:05 Beijing time, Germany's DAX index was up 0.2%, France's CAC 40 index was up 0.17%, London's FTSE 100 index was up 0.32%, and the pan-European Stoxx 50 index was up 0.12%, but Italian and Spanish stocks fell.

Hot news

• BABA and NetEase, Inc koala talk about collapse? BABA responded: no comment

According to Tencent Science and Technology report, there is news that before$BABA (BABA.US) $与$NetEase, Inc (NTES.US) $Talks about the acquisition of eCola, NetEase, Inc's cross-border e-commerce platform network, have collapsed. The negotiations between the two sides ended on the afternoon of the 20th, and Ding Lei, chairman and CEO of NetEase, Inc, finally vetoed the acquisition. BABA responded: no comment.

• Baidu, Inc. surged 9% before trading. The performance of Personality Q2 exceeded expectations.

Baidu, Inc. Q2 financial report shows$Baidu, Inc. (BIDU.US) $Revenue was 26.3 billion yuan ($3.84 billion), up 1.1% from a year earlier, up 6% from a year earlier and 9% month-on-month, excluding the impact of announced divestitures, exceeding analysts' expectations. The net profit attributed to Baidu, Inc. 's core is 3.7 billion yuan ($543 million), while Baidu, Inc. 's core net profit margin is 19%.

• IQIYI, Inc. plunged 9% before trading and the net loss of Q2 widened compared with the same period last year.

Q2 financial report shows$iQIYI, Inc. (IQ.US) $Revenue reached 7.1 billion yuan ($1 billion), up 15% from a year earlier, while iQIYI, Inc. posted a net loss of 2.3 billion yuan, up from 2.1 billion yuan in the same period last year. Compared with analysts' expectations, iQIYI, Inc. 's revenue in the second quarter was slightly lower and the loss slightly higher.

• Walt Disney Company is suspected of fraud, and the former accountant accused him of falsifying his income of billions of dollars.

According to Market Watch, in$Walt Disney Company (DIS.US) $Sandra Quba, a senior financial analyst who has worked for 18 years, accused Walt Disney Company of financial fraud and has submitted information to SEC. Quba alleges that employees of Walt Disney Company's park and resort business took advantage of loopholes in the company's accounting software to misstate billions of dollars in revenue.

• Cheetah Mobile Inc rose more than 10% before trading and paid out more than 500 million cash dividends.

$Cheetah Mobile Inc (CMCM.US) $The total income was 970 million yuan, reaching the high value of the company's previous revenue guidance; at the same time, in the overall decline of the tools industry, Cheetah Mobile Inc still achieved positive income in this quarter, with net profit belonging to shareholders of 48.53 million yuan, net profit of 82.49 million yuan belonging to Non-GAAP shareholders, and revenue of Q2 mobile game business increased by 108.5% compared with the same period last year.

• PPDAI's Q2 revenue increased by 46.6%, better than expected.

$PPDAI (PPDF.US) $The total revenue in the second quarter of 2019 reached 1.5623 billion yuan, and the market is expected to reach 1.355 billion yuan, compared with 1.06 billion yuan in the same period last year. The net profit reached 660.5 million yuan. The amount of matchmaking increased by 28.9% to 21.611 billion yuan. The cumulative number of registered users reached 99.02 million. It was up 8% before the auction, and nearly 4% as of press time.

• NIO Inc. clarified: the autopilot business unit has not been split and there are no plans to merge with DiDi Global Inc..

There are media reports that$NIO Inc. (NIO.US) $Consider merging the autopilot business unit with the autopilot company spun off by DiDi Global Inc., and Li Bin also held several rounds of negotiations with DiDi Global Inc. on this plan. In response, Xilai Guanbo responded that the self-driving business unit has not been split and there are no relevant merger plans; at the same time, DiDi Global Inc. responded that there are no relevant merger plans and will continue to carry out in-depth cooperation with the automobile industry.

• Apple Inc plans to launch Apple TV+ service or free trial before the end of November

$Apple Inc (AAPL.US) $The company plans to launch Apple TV+ movie and television subscription services by the end of November, helping its service business reach its 2020 revenue target of $50 billion. Apple Inc will first launch a small number of programs and then gradually enrich the content in the next few months, according to people familiar with the matter. During Apple Inc's establishment of the program library, Apple TV+ may try it for free.

• Berkshire plans to issue Japanese yen bonds to borrow money for the first time

The English edition of the Nikkei News reported on the 20th, according to the news$Berkshire B (BRK.B.US) $New ways of financing are being sought, and the total value of bonds issued in September could exceed 100 billion yen ($939 million) with a maturity of five years or more, details of which are uncertain.

Financial and economic notice