Hot news
“Fighting” with actual data? Federal Reserve Beige Book: Overall inflation is moderate, and consumer price sensitivity is still very high
The Federal Reserve released the Economic Situation Survey Report prepared by 12 local Federal Reserve Banks — the Beige Book. The Beige Book shows that the US economy has grown slightly, wage pressure has eased, and companies report that it is difficult to pass on higher investment costs. What is not consistent with the higher-than-expected inflation data released last week is that the Beige Book shows that the overall price increase was stable and generally moderate, with not much change from the previous reporting period. US consumers are still very price sensitive.
The New York Federal Reserve “announces” withdrawal of the QT roadmap: the Federal Reserve may stop downsizing next year
In the annual report on open market operations released on Wednesday, the New York Federal Reserve predicts that the Federal Reserve's QT action to reduce its balance sheet (downsizing) will end in 2025, that is, next year. The report puts forward two hypothetical scenarios relating to QT. It is expected that QT may end in the beginning or middle of next year. Bank reserves will drop from the current approximately 3.6 trillion US dollars to 2.5 trillion or 3 trillion US dollars, and the balance sheet size will be reduced to about 6 trillion or 6.5 trillion US dollars.
Bank of America survey: Fund managers' stock allocation has reached the highest point since January 2022
According to the Bank of America's monthly fund manager survey released on Wednesday, the broadest sentiment measurement index based on cash levels, stock allocations, and economic expectations jumped from 4.6 last month to 5.8. Bullish sentiment was at a new high since January 2022, which was also the peak of the previous round of market conditions.
How important is Iranian crude oil? UBS: If the supply is cut, the price of oil will go straight to $100
UBS emerging markets strategist Sunil Tirumalai and others believe that if Iran's oil supply is impacted by conflict or US sanctions, the price of the international benchmark Brent crude oil will rise by about $10 from the current price, breaking through $100 per barrel.
On the eve of the fourth “halving”, Bitcoin once fell below the $60,000 mark
Bitcoin may be “halved” for the fourth time this Friday. Bitcoin once fell below the important mark of 60,000 US dollars in the intraday session on Wednesday, hitting a new low since March 6, with an intraday decline of about 4%. Since reaching a record high of nearly $74,000 on March 14, Bitcoin has declined by around 19%.
Resumption of US stock trading
The S&P Index fell for four days in a row, and Asmack fell 7%, dragging down chip stocks
On Wednesday, US stocks opened higher and went lower. The three major indices collectively closed lower, and the S&P and NASDAQ both fell four times in a row.
Most of the big tech stocks fell, with Nvidia falling nearly 4%, Amazon, Meta, and Tesla falling more than 1%, Microsoft and Apple falling slightly, and Google C rising slightly.
The Philadelphia Semiconductor Index fell more than 3%, Asmack fell more than 8%, AMD fell nearly 6%, Applied Materials, Micron Technology, etc. fell more than 4%, and Nvidia fell nearly 4%.
New orders in the first quarter fell short of expectations, and Asmack fell more than 7%
$ASML Holding (ASML.US)$It fell more than 7%. Previously released data showed that Asmack's new orders for the first quarter fell short of analysts' expectations, mainly affected by a slowdown in demand from the chip manufacturing industry for the company's most advanced machines.
Tesla once again asked investors to approve Musk's $56 billion salary package. At one point Tesla fell more than 2%
though$Tesla (TSLA.US)$CEO Musk's salary package was previously declared invalid by the US Delaware court, but Tesla submitted proxy documents on Wednesday stating that it will once again ask shareholders to vote for Musk's $56 billion compensation package. Meanwhile, Tesla also said it would call a vote to move the company's registration from Delaware to Texas. Tesla's stock price once fell nearly 2% in early trading on Wednesday, and ended up falling more than 1%.
Get the EU's green light! EU cancels antitrust investigation into Microsoft and OpenAI's $13 billion investment
On Wednesday, the EU made the wrong decision$Microsoft (MSFT.US)$A formal antitrust investigation into OpenAI's $13 billion investment was carried out. The decision calmed the market's fears that this investment might have to be interrupted. The decision is good for Microsoft and OpenAI because they can continue to cooperate in the AI field without worrying about EU antitrust intervention.
Are there any new uses for “weight loss elixir”? Eli Lilly: Effective treatment for sleep apnea
American pharmaceutical giants$Eli Lilly and Co (LLY.US)$It said its popular diet drug, Zepbound, has shown potential for treating sleep apnea in two late-stage trials. According to preliminary data, Zepbound reduced the apnea hypoventilation index (AHI) by 59% overall, while placebo reduced it by only 3%. Lilly rose more than 3% overnight, and eventually closed up 0.54%.
Google is reportedly making layoffs and moving some jobs to other countries
$Alphabet-C (GOOG.US)$Staff are being laid off and some teams are being restructured. According to two employees, several teams in Google's finance and real estate departments have been affected, and it's unclear how many jobs have been cut. An employee said the changes were “quite large” and some positions would be moved abroad. A Google spokesperson confirmed the layoff plan but declined to say how many employees were affected.
Q1 results were surprising, with Continental Airlines up more than 17%
$United Airlines (UAL.US)$Q1 revenue increased 9.7% year over year to US$12.54 billion, exceeding market expectations of US$12.45 billion; Q2 earnings per share exceeded expectations by US$3.75 to US$4.25. Overnight. The company surged more than 17%.
Alcoa's adjusted profit before interest and tax for the first fiscal quarter exceeded expectations
$Alcoa (AA.US)$The adjusted loss per share for the first fiscal quarter was $0.81, and analysts expected a loss of $0.64 per share; sales for the first fiscal quarter were US$2.60 billion, and analysts expected US$2.55 billion; adjusted profit before interest and tax for the first fiscal quarter was US$132 million, and analysts expected US$113 million; it still predicts annual alumina shipments of 12.7 million to 12.9 million metric tons; still predicts annual aluminum shipments of 2.5 million to 2.6 million metric tons. As of press release, Alcoa rose more than 2% after the market.
Top 20 US stock turnover
Hong Kong Market Outlook
Beishui rushed Tencent to raise over HK$800 million and sell Hong Kong stock ETFs
On April 17 (Wednesday), Southbound made a net purchase of HK$1,147 billion in Hong Kong stocks.
$TENCENT (00700.HK)$,$CHINA MOBILE (00941.HK)$,$XIAOMI-W (01810.HK)$Received net purchases of HK$805 million, HK$691 million and HK$286 million respectively;
$TRACKER FUND OF HONG KONG (02800.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$,$KUAISHOU-W (01024.HK)$Net sales were HK$5.61 billion, HK$758 million and HK$233 million respectively.
Today's attention
Keywords: number of US jobless claims for the week up to April 13, April Philadelphia Federal Reserve Manufacturing Index, Federal Reserve official speeches, TSMC/Netflix performance
On Thursday, in terms of economic data, the number of jobless claims in the US for the week ending April 13 and the Philadelphia Federal Reserve manufacturing index for April are worth paying attention to.
In terms of financial events, Federal Reserve officials will speak out intensively, including Federal Reserve Governor Bowman, New York Federal Reserve Chairman Williams, 2024 FOMC Voting Committee, and Atlanta Federal Reserve Chairman Bostic.
In terms of financial reports, US stocks$Taiwan Semiconductor (TSM.US)$Results will be announced before the market,$Netflix (NFLX.US)$The new quarterly results will be announced after the market, and investors all need to focus their attention.
Futubull Chen read:
We'll throw some decision-making topics into the filing cabinet called “Too Hard” and look at other topics.
—Charlie Munger
Editor/Somer