This week's important schedule overview
US Federal Reserve interest rate decision and economic outlook summary released
The US Federal Reserve interest rate decision will be announced early Thursday morning Beijing time. Although the Fed's decision to keep interest rates unchanged has virtually no suspense, this meeting will announce an economic outlook summary, and the market will focus on the interest rate dot plot. The March dot plot shows that policymakers predict three rate cuts this year, but with the recent slowing of US inflation, Fed officials may abandon their prediction of three rate cuts.
US May CPI and PPI data will be released sequentially
CICC predicts that the US inflation may accelerate and improve. CICC's comprehensive asset model predicts that the US nominal CPI will increase by 0.07% MoM (consensus forecast is 0.1%, previous value is 0.31%), and the core CPI will increase by 0.27% MoM (consensus forecast is 0.3%, previous value is 0.29%). CICC believes that the US inflation continues to improve while the economy cools down simultaneously. Considering the market's cautious pricing of rate cuts, there is still sufficient room for rate cut trades.
China's May CPI and PPI data will be released
On June 12, the National Bureau of Statistics will release China's May CPI and PPI data. Sinolink Securities analysis believes that CPI may be relatively mild, and PPI may have an upward slope or rebound, with significant support from rising raw material prices. There are signs of marginal easing of supply-side pressures on some food ends, and service prices may have a seasonal rebound boosted by holiday travel, but overall, price elasticity still needs further tracking. In a neutral scenario, May CPI is expected to remain flat at 0.3% year-on-year. Non-ferrous chains and black chains will see price increases, and the growth rate of May PPI year-on-year may shrink to about -1.5% due to the superposition of base effects and other factors.
Apple's Worldwide Developers Conference will open
The highly anticipated Apple Worldwide Developers Conference (WWDC) will open on June 11th Beijing time and will last until June 15th. As artificial intelligence technology continues to develop, how Apple integrates AI technology into its product line will be the highlight of the conference.
Nvidia will have its first trade after stock split on Monday.
For Nvidia, the split lowers the price per share to one-tenth of the previous price, with the result being a lowered investment threshold. This means that more small-scale investors will be able to enter the market. Additionally, the increase in dividends may attract investors who seek dividend income, resulting in significantly increased liquidity of the stock. It's worth noting that even though the number of shares has increased, the stock split will not change the company's total market cap or the total equity of shareholders. However, it may affect investors' perception of the company and investment decisions.
Related reading:5 things you need to know before nvidia's stock split.
Tesla will hold its 2024 shareholders meeting at 04:30 Beijing time on Friday.
Tesla will hold its crucial annual shareholders meeting on June 13th local time, which will be a "smoky" meeting. According to media reports, the shareholders will have to vote on two major issues: CEO Musk's $56 billion compensation plan and whether the company's registered location should be moved from Delaware to its headquarters in Texas.
Despite the differences, most analysts expect the compensation plan to pass. If approved, it will be bullish for the stock by eliminating uncertainty, but it also means the hidden danger of Musk's continued investment in other areas such as AI. Analysts believe that Tesla needs Musk's drive, but the long-term balance of Musk's investment in Tesla and other businesses remains an issue that needs ongoing attention.
The Bank of Japan will announce a new interest rate decision on Friday
There seems to be little consensus on the specific details of how the Bank of Japan will slow down its bond purchases next week. Some economists believe that the Bank of Japan will cut its bond purchases by 1 trillion yen, while others believe that the initial cut will be smaller. Some people think that the Bank of Japan will only announce plans to cut bond purchases in the coming months.
Hong Kong stocks offer new opportunities
On Thursday, QuantumCTek will officially list on the Hong Kong Stock Exchange. QuantumCTek is an innovative research and development company based on quantum physics, powered by artificial intelligence and robots. The company plans to sell 187.4 million shares globally, with 93.7 million publicly listed shares, 178 million international shares, and an issuing price per share of HKD 5.03-6.03, with a minimum trading unit of 1000 shares.
On Friday, CloudWalk will officially list on the Hong Kong Stock Exchange. Founded in 2013, CloudWalk mainly provides customers with comprehensive and reliable IDC solutions and edge computing services. The company's offering price will be HKD 4.6 per share, with 115 million Hong Kong-listed shares, 103.5 million international shares, and an additional 15% over-allotment.
This week's key performance calendar
June 10th, Monday
Keywords: Japan's GDP; inflation expectations; Nvidia stock split; Hong Kong stock market closed.
On Monday, economic data-wise, the US New York Fed's one-year inflation expectations and Japan's GDP will be announced.
In terms of financial events,$NVIDIA (NVDA.US)$The first trading day after the stock split will be on Monday. The Hong Kong stock market is closed today due to the Dragon Boat Festival.
Tuesday, June 11th.
Keywords: NFIB Small Business Confidence Index; WWDC; Jike; Oracle.
On Tuesday, US NFIB Small Business Confidence Index will be released.
In terms of financial events, the highly-anticipated global developer conference of Apple (WWDC) will open on June 11th in Beijing time, and the conference will last until June 15th.
Regarding financial reports,$ZEEKR (ZK.US)$Earnings will be released before pre-market trading.$Oracle (ORCL.US)$Earnings will be released after post-market trading.
Wednesday, June 12th.
Keywords: Chinese CPI, PPI; US CPI; Zhihu; Broadcom.
On Wednesday, important economic data, including China's May CPI, PPI, and US May CPI, will be released.
In terms of financial events, EIA will release the monthly crude oil market report.
Regarding financial reports,$Zhihu (ZH.US)$/$ZHIHU-W (02390.HK)$Earnings will be released before pre-market trading.$Broadcom (AVGO.US)$Earnings will be released after post-market trading.
Thursday, June 13th.
Keywords: Federal Reserve interest rate decision; US PPI; Powell; Unemployment Claims; Adobe.
On Thursday, important economic data, including Federal Reserve interest rate decision, economic projections, and US May PPI, will be released.
In terms of financial events, Powell will hold a press conference on monetary policy.
Regarding financial reports,$Adobe (ADBE.US)$Earnings will be released after post-market trading.
Regarding IPOs,$QUANTUMPH-P (02228.HK)$Will be listed on the Hong Kong Stock Exchange today.
Friday, June 14.
Keywords: Bank of Japan (BOJ) interest rate decision, inflation expectations, consumer confidence index, cloud factory.
On Friday, in terms of economic data, BOJ will announce its interest rate decision, while the U.S. inflation expectations and the University of Michigan consumer confidence index will be released.
In terms of financial events, Williams of the U.S. Federal Reserve will preside over a discussion with U.S. Treasury Secretary Yellen, and BOJ Governor Haruhiko Kuroda will hold a press conference on monetary policy.
Regarding IPOs,$CLOUD FACTORY (02512.HK)$Will be listed on the Hong Kong Stock Exchange today.
Wishing Mooers a successful week of investment!
Editor/Lambor