Hot news

Expectations of global major central banks cutting interest rates strengthened, with bond yields in Europe and the United States falling in unison.

The benchmark 10-year U.S. Treasury yield briefly fell below 4% intraday. Cooling inflation in the United Kingdom opens up room for interest rate cuts, causing the 2-year UK bond yield to drop by over 11 basis points.

Spot gold strengthened on Wednesday, approaching historical highs just one step away.

Expectations of global central banks cutting interest rates, U.S. bond yields at a one-week low, ongoing geopolitical conflicts escalating risk aversion, and the LBMA bullish on gold and silver, all supported spot gold rising over 0.4% on Wednesday, reaching a high of $2685.35, just one step away from the historical peak of $2685.58.

The China Machinery Commercial Association stated its opposition to the European Commission negotiating price commitments with some electric vehicle companies separately.

The China Machinery Commercial Association noted reports suggesting that while negotiating with Chinese counterparts, the European Commission is also separately engaging in price commitment negotiations with some companies. This will shake the foundation and mutual trust of the negotiations, causing disruptions to the discussions for both sides.

Global Markets

The three major U.S. indexes collectively rose last night. As of the close, the Dow rose 0.79% to 43,077.70 points, hitting another historical high; the Nasdaq rose 0.28% to 18,367.08 points; the S&P 500 Index rose 0.47% to 5,842.47 points.

Most large-cap tech stocks declined, with Intel and Meta down more than 1%, while Amazon, Google, Microsoft, Netflix, and Apple fell slightly; Nvidia rose more than 3%, and Tesla edged up slightly.

China concept stocks experienced mixed movements, with the Nasdaq China Golden Dragon Index rising by 0.93%. iQIYI surged over 2%, Baidu, Bilibili, and JD.com rose over 1%, while Full Truck Alliance and Alibaba edged up slightly.

The three major Hang Seng indexes adjusted collectively on Wednesday. As of the close, the Hang Seng Index fell by 0.16% to close at 20,286.85 points; the Technology Index fell by 1.09% to close at 4,402.37 points; the State-owned Enterprise Index fell by 0.14% to close at 7,267.98 points.

From the market performance perspective, real estate, gold, infrastructure, and banking stocks are leading the gains, while petroleum and pharmaceutical stocks are weakening.

Company News:

Alcoa: Adjusted EBITDA for the third quarter was 0.455 billion USD, analyst expectations were 0.3904 billion USD; third-quarter sales were 2.9 billion USD, analyst expectations were 2.98 billion USD; adjusted EPS for the third quarter was 0.57 USD, analyst expectations were 0.25 USD; still forecasting annual aluminum shipments of 2.5 million to 2.6 million metric tons; expecting annual alumina shipments of 12.9 million to 13.1 million metric tons for the year.

Boeing: According to sources, the company is considering raising approximately $15 billion through the issuance of stocks and mandatory convertible bonds.

Apple: According to sources, Carol Surface, the Chief People Officer who has been in office for less than two years, is about to resign.

General Motors: Will invest $0.625 billion in one of the largest lithium mines in the United States to strengthen the efforts of the auto manufacturer to ensure the supply of battery metals for electric vehicles.

China Life Insurance (02628): It is expected that the net profit for the first three quarters will be approximately 101.135 billion yuan to 108.767 billion yuan, a year-on-year increase of about 165% to 185%.

China Pacific Insurance (02601): The cumulative original insurance premium income of Pacific Life and Pacific Property Insurance for the first nine months was 209.593 billion yuan and 159.819 billion yuan, respectively, representing year-on-year growth of 2.4% and 7.7%.

China Coal Energy (01898): The coal sales volume for the first nine months was approximately 0.2055 billion tons, a year-on-year decrease of 4.3%. The coal sales volume for September was 24.61 million tons, a year-on-year increase of 18.5%.

Qinhuangdao Port (03369): The total throughput for the first nine months was 0.3 billion tons, an increase of 1.47% year-on-year.

China State Construction (03311): The subsidiary plans to establish a joint venture in Peking, engaging in business related to sewage treatment and reuse, water pollution control, and municipal facility management, with a total registered capital of 0.761 billion yuan.

Chinasoft International (00354): Accelerate the launch of multiple Hongmeng projects to innovate financial business.

Viva Goods (00933), Dragon Leap Consumer Goods Limited, and Bossini International (00592): Joint announcement, on October 14, the Viva board of directors and the offeror's board of directors requested the Bossini board of directors to propose to the planned shareholders the offeror's privatization of Bossini in accordance with Article 99 of the Companies Act through an agreement arrangement.

Key data.

17:00 Eurozone's harmonized CPI annual rate for September - final figure not seasonally adjusted

20:15 Eurozone's ECB main refinancing rate for October

20:30 US October Philadelphia Fed Manufacturing Index, September retail sales monthly rate, September retail sales year-on-year rate, initial jobless claims for the week ending October 12

21:15 US September industrial production monthly rate, September manufacturing production monthly rate

23:00 US EIA crude oil inventory change ending the week of October 11

Financial Events

20:15 European Central Bank announces interest rate decision.

20:45 ECB President Lagarde holds a monetary policy press conference.