This week's big schedule at a glance

• Tech giants such as Tesla, Meta, Microsoft, and Google release financial reports intensively

At a time when the US stock “Seven Sisters” is being sold off, Wall Street is preparing for the upcoming wave of earnings reports from tech giants this week. According to consistent market expectations, Tesla is expected to record revenue of US$22.521 billion in the first quarter, a decrease of 3.46% year on year; earnings per share of 0.44 US dollars, a decrease of 39.48% year on year. The market generally expects Meta to achieve revenue of US$36.156 billion in the first quarter, up 26.22% year on year; earnings per share of US$4.31, up 95.99% year on year.

The usage of the AI Copilot software will be the biggest highlight of Microsoft's quarterly report. The software charges $30 per user per month. Analysts believe Microsoft may not provide too many details, but expectations are expected to be very optimistic. Another highlight is the Azure cloud business. The analysis predicts that its revenue will grow by 28%, the same as in the fourth quarter of last year.

• US GDP for the first quarter, PCE data for March will be released

On Thursday, the US Department of Commerce will announce the US GDP for the first quarter. Market expectations are that the initial annualized value of US GDP for the first quarter increased by 2% month-on-quarter, a sharp decrease from the previous value of 3.4%, which indicates that the US economy will cool down under high interest rates.

The US CPI data for March exceeded market expectations, investors lowered their bets on the Fed's interest rate cut, and the Federal Reserve's most popular inflation indicator, the March PCE price index, which will be released on Friday. The market generally expects the US PCE index to accelerate slightly to 2.6% year on year as energy costs rise. Excluding energy and food, the core PCE is expected to remain at 0.3% month-on-month, in line with previous values, indicating that inflation is no longer cooling down.

• China's April LPR will be announced on Monday

On April 22, the market quoted interest rate (LPR) for loans with a term of one year and five years or more for this month will be announced. Previously, in April, MLF continued its downsizing and affordable sequel. The central bank launched a 100 billion yuan 1-year medium-term loan facility (MLF) operation on the 15th. The winning bid interest rate was 2.5%, which is the same as before. Many agencies expect the LPR to remain stable this month. Currently, the 1-year LPR is 3.45%, and the LPR for 5 years or more is 3.95%.

Dong Ximiao, chief researcher at CMB, pointed out that the quoted interest rate in the loan market is based on the 1-year MLF base, the MLF interest rate remains unchanged, and the probability of LPR changes is small. It is expected that this month's LPR will remain the same as last month.

• The Bank of Japan will announce the new interest rate decision on Friday

At 11:00 on April 26, the Bank of Japan will announce the interest rate decision and outlook report. Markets generally expect the Bank of Japan to stand still. On April 20, Bank of Japan Governor Kazuo Ueda said that Japan's monetary policy will remain relaxed for a period of time, and policy makers will continue to buy government bonds.

At the same time, since it is widely expected that the Bank of Japan will keep its policy unchanged after shelving large-scale easing programs, economists and investors will carefully review the Bank of Japan's description of the risk of inflation in order to find any hints about the future pace of interest rate hikes.

• Hong Kong and US stocks open up new opportunities

On Tuesday, Chabaidao and Tianjin C&D will be listed on the Hong Kong stock market; on Wednesday, when you go out and ask, they will be listed on the Hong Kong stock market. Chabaidao will become the second new tea company to be listed on the Hong Kong stock market after Nai Xue's tea. According to the data, the total number of Chabaidao stores reached 7,927. In 2023, the total retail sales of Chabaidao stores reached about 16.9 billion yuan, while the gross margin of Chabaidao in 2021-2023 was 35.7%, 34.4%, and 34.4%.

Go Out and Ask is an AI company whose core business is generative AI and voice interaction technology. It will become the first stock of the Hong Kong stock AIGC. According to the Insight Consulting Industry Report, Go Out and Ask is one of the few AI companies in Asia that have the ability to build large general-purpose models. According to the 2022 AIGC Solution Revenue Index, Go Out and Ask is the earliest and highest-grossing AI company focused on AIGC technology in China.

Additionally, investors can also pay attention to the two new shares of Rubrik Inc. and Marex Group plc, which were listed on the US stock market on Thursday.

This week's key performance calendar

Monday April 22nd

Keywords: LPR; Zijin Mining

On Monday, in terms of economic data, China's one-year and five-year LPR will be collectively announced.

In terms of financial reports, resource stocks that have recently attracted market attention$ZIJIN MINING (02899.HK)$Results will be announced.

Tuesday, April 23

Key words: PMI; Tesla; tea Baidao

On Tuesday, in terms of economic data, Japan's manufacturing PMI, Eurozone manufacturing PMI, and US S&P global manufacturing PMI will be released one after another today.

In terms of financial events, NYMEX New York crude oil futures for May were affected by the transfer of positions. The final market transaction was completed at 2:30 on April 23, and the final electronic trading was completed at 5:00 a.m., and the final electronic trading was completed at 5:00 a.m., so please pay attention to the trading venue's expiration and monthly exchange announcements to control risks. Also, the US oil contract expiration time on some trading platforms is usually one day earlier than the NYMEX official one day, so please be careful.

In terms of financial reports,$PING AN (02318.HK)$,$CHINA TELECOM (00728.HK)$,$China Tourism Group Duty Free Corporation (601888.SH)$The Hong Kong stock market results will be announced after the market.$Spotify Technology (SPOT.US)$The results will be announced in advance of the US stock market.$Tesla (TSLA.US)$Results will be announced after the US stock market.

In terms of new shares,$CHABAIDAO (02555.HK)$,$TJCD (02515.HK)$It will be listed on the Hong Kong stock market today.

Wednesday April 24

Keywords: crude oil; Hong Kong Stock Exchange; Meta Platforms

On Wednesday, in terms of economic data, the US weekly crude oil inventory, US durable goods order monthly rate, Australian CPI, and Canadian retail sales monthly rate will be announced today.

In terms of financial reports, in Hong Kong stocks$HKEX (00388.HK)$,$GWMOTOR (02333.HK)$Results will be announced today; in US stocks$New Oriental (EDU.US)$,$Boeing (BA.US)$Results will be announced in advance of the US stock market.$Meta Platforms (META.US)$The results will be announced after the US stock market.

In terms of new shares,$MOBVOI (02438.HK)$It will be listed on the Hong Kong stock market today.

Thursday April 25

Keywords: GDP; unemployment benefits; CNOOC; Microsoft; Google

On Thursday, in terms of economic data, the preliminary value of the US Q1 real GDP annualized quarterly rate, the number of initial jobless claims in the US, and the monthly rate of the US existing housing contract sales index will be announced today.

In terms of financial events, the Bank of Canada today announced the minutes of the monetary policy meeting.

In terms of financial reports,$CNOOC (00883.HK)$,$ZTE (00763.HK)$Hong Kong stock results will be announced after the market;$Microsoft (MSFT.US)$,$Alphabet-A (GOOGL.US)$,$Intel (INTC.US)$Results will be announced after the US stock market.

In terms of new shares,$Rubrik Inc. (RBRK.US)$,$Marex Group plc (MRX.US)$It will be listed on the US stock market today.

Friday April 26th

Keywords：Bank of Japan interest rate decision; US core PCE; ExxonMobil

On Friday, in terms of economic data, the inflation indicators that the Federal Reserve is most concerned about in March, the March Core PCE, the University of Michigan Consumer Confidence Index, and the US inflation rate forecast will be released.

In terms of financial events, the Bank of Japan will announce the interest rate decision today, and the Bank of Japan Governor will then hold a monetary policy press conference.

In terms of financial reports,$Exxon Mobil (XOM.US)$The results were announced in advance of the US stock market.

Good luck with your investments in the new week!

edit/lambor