The US commerce secretary has been refuted by Indian companies for encouraging Huawei to be blocked; Johnson & Johnson was awarded $8 billion in compensation to a man for failing to warn of the risks of breast development; Alphabet Inc-CL C plans to launch a 5G smartphone next week; and Honda announced a recall of cars in the US.

Global macro

• Us stock index futures rose sharply, while Dow futures surpassed200点

Us stock index futures rose ahead of the day and are expected to recover yesterday's 2/3 decline on the back of optimism about the global economic and trade outlook.

• The Fed is expected to cut interest rates by as much as 80% in October

On October 8th, Federal Reserve Chairman Powell's latest speech was published on the Fed's website. Mr Powell said the Fed would start to expand its balance sheet and was considering buying Treasuries, but the move was for reserve management, unlike the large-scale asset purchases in the wake of the financial crisis. A series of recent US economic data have been weak and fears of a slowdown in the US economy have intensified, indicating that the market is more than 80 per cent likely to cut interest rates again in October.

• The US Secretary of Commerce encouraged Huawei to be blocked, which was refuted by Indian enterprises

During the 33rd India Summit of the World Economic Forum, US Commerce Secretary Ross took the opportunity to once again crack down on Huawei in the name of so-called security. He shouted to India, advising India to carefully consider the choice of 5G equipment and not to choose Huawei. But the head of the Indian telecom giant said on the spot that India should let Huawei participate in 5G construction. He also said that his experience over the past decade has confirmed that Huawei's products are excellent.

• The number of deaths from e-cigarettes in the United States has risen to 21, and the sale of seasoned e-cigarettes has been banned in seven states.

Montana on Tuesday issued a 120-day ban on the sale of flavored e-cigarettes, effective Oct. 22, saying the growing popularity of e-cigarettes is causing harm to teenagers, becoming the seventh state in the United States to ban the sale of flavored e-cigarettes. Governor Bullock said there have been 1080 confirmed cases of e-cigarette-related lung disease in the United States, and 21 deaths related to e-cigarette use have occurred in 48 states and one territory of the United States.

• The WTO quasi-United States levies on the European Union, and Germany loses the most.

According to Phoenix Satellite TV, Europe and the United States have launched a new round of trade disputes. The WTO has approved the United States to impose record tariffs on EU products, and the European Union has also said it will retaliate. Experts say this will make the already strained relations between the United States and Europe even worse. According to an analysis by the Kiel Institute for World Economics, Germany will be hit hardest by the new tariffs, which may lose 2 billion euros worth of exports each year.

• European Union warns Johnson not to play on the issue of retirement「Stupid」Game of passing the buck

The European Union accused Britain of playing a "stupid game of passing the buck" on Brexit after a British prime minister's official residence source said a deal was basically impossible because German Chancellor Angela Merkel made some unacceptable demands. A source from the British prime minister's official residence said that Merkel and British Prime Minister Johnson spoke on the phone on Tuesday morning and the two sides had a frank exchange of views, and Merkel made it clear that it was "highly unlikely" that a retirement agreement could be reached. This is a sign that Johnson's final proposal to break the deadlock in Brexit has failed.

Hot news

• BABA and JD.com will suspend the sale of e-cigarettes to the United States, but their domestic sales will not be affected.

$BABA (BABA.US) $From October 10, all e-cigarette products and accessories on the platform of BABA International Station will be blocked by traffic shielding and US credit insurance orders. meanwhile,$JD.com (JD.US) $Also said that in view of the latest US e-cigarette control policy, JD.com global sales will block all relevant categories of e-cigarette products in the United States, and suspend relevant orders to the United States.

• Apple Inc may launch the "package service" of Apple TV+ and Apple Music
  

According to foreign media reports$Apple Inc (AAPL.US) $Early discussions are under way with record companies on whether to launch "media content bundles" for Apple Music and Apple TV +. If the agreement is reached, users who subscribe to both Apple Music and Apple TV+ will get the service at a more affordable price, which will also stimulate those who are interested in Apple Music and Apple TV+ to try something new.

• Alphabet Inc-CL C may launch 5G smartphone next week.

According to the Nikkei report$Alphabet Inc-CL C (GOOG.US) $5G smartphones may be launched at next week's event. Earlier, according to foreign media reports, Alphabet Inc-CL C has sent invitations to several media to participate in the hardware conference scheduled to be held in New York City on October 15. The company is expected to officially launch two phones, the Pixel 4, the Pixel 4 XL and other devices, including the Pixelbook 2 laptop and the new Google Home smart speaker. The invitation says, "Let's take a look at the new things made by Alphabet Inc-CL C." "

• Honda announces car recall in the United States

According to the announcement on the website of the National Highway Traffic Safety Administration, due to problems that do not comply with the requirements of federal motor vehicle safety standards$Honda (HMC.US) $Some 2019 CR-V will be recalled because an incorrect description in the user's manual may cause front passengers to fail to correctly understand the function of airbags, which may increase the risk of personal injury in the event of an accident.

• Johnson & Johnson was awarded 8 billion US dollars in compensation to a man.

The Philadelphia jury ruled that the United States$Johnson & Johnson (JNJ.US) $The company paid $8 billion in punitive damages to a man. The man caused abnormal breast development by taking risperidone, a drug produced by Johnson & Johnson Company for the treatment of mental disorders. Of the 13000 risperidone lawsuits faced by Johnson & Johnson, the amount of compensation in this lawsuit is at an all-time high.

• It is said that WeWork plans to lay off 500 technical staff and start a plan to lay off 2000 people.

As a result of layoffs and sales, WeWork is expected to make major cuts to the company's technology division, involving about 500 software engineers, product managers and data scientists, accounting for 1/3 of the total, The Information reported, citing a person familiar with the matter. The job cuts could further undermine WeWork's position as a technology company in the real estate industry. It is also reported that the layoff plan finally decided by wework may involve 2000 people.

• YouTube surpasses Netflix for the first time, and Chengmei is the preferred platform for teenagers to watch videos.

According to foreign media reports, according to the fall 2019 survey report released by Paijie, a US investment bank, on Tuesday, YouTube has exceeded$Netflix Inc (NFLX.US) $It has become the preferred platform for teenagers to watch videos. Mr Paijie found that 37 per cent of teenagers surveyed preferred streaming videos on Alphabet Inc-CL C's YouTube platform, slightly higher than long-time leader Netflix, which accounted for 35 per cent. The company attributes the shift to YouTube's diverse content library, including "a lot of content for teenagers".

Financial and economic notice

Two major events will hit in the evening: 22:30 Federal Reserve Chairman Powell co-hosts the "Fed listens" round table to discuss issues such as the state of the job market; and at 02:00 the next day, the Federal Reserve will release the minutes of its September monetary policy meeting, at which time market fluctuations may occur.

On Thursday, October 10, Beijing time, the Federal Reserve will release the minutes of its monetary policy meeting. The Fed's position in this summary is slightly different from that expected in the previous resolution, as recent US economic data have been poor, sparking concerns about US inflation and the economic outlook and raising market expectations of Fed interest rate cuts.

At the same time, as Powell says he is open to cutting interest rates and restarting QE this year, the market needs to pay attention to the Fed or provide guidance for the October decision.