Bilibili Inc. responded to the secondary listing in Hong Kong: no comment; NetEase, Inc rose more than 9% before trading; the US Supreme Court will rule on Trump's public tax returns; Chuan Shang will find a house in IPO in the United States, with a valuation target of more than $20 billion.

Global macro

• Futures of the three major stock indexes in the United States are mixed.

The futures of the three major stock indexes in the United States are mixed, with Dow futures down 0.15%, Nasdaq futures up 0.45% and S & P 500 index futures up 0.03%.

• Democratic presidential candidate Joe Biden will propose $700 billion to support American products

According to the Washington Post, Democratic presidential candidate Joe Biden will propose $700 billion to support American products. According to previous reports, Biden plans to support "Buy American", especially in the area of government procurement, as well as expanding health insurance coverage.

• The Fed's ten-month positive buyback operation is coming to an end.

With the expiration of a 28-day repurchase of $53.2 billion on Tuesday, all the positive repurchase operations that the Fed has resumed since September have been emptied, according to the latest data from the New York Fed. Industry analysts see this as a sign that the money market has "returned to normal".

• The US economic recovery faces a severe negative: even if the economy resumes, 40% of Americans still choose to cut back on optional consumption.
  

According to a survey released Wednesday by CreditCards, a US credit card website, 45 per cent of respondents said they would still reduce spending on cinemas, live event tickets and bars after the outbreak, while 38 per cent and 31 per cent reduced spending on dining out and gyms. It is worth mentioning that millennials tend to eat out less than older consumers.

• The U.S. Supreme Court will rule on Trump's public tax returns

According to foreign media, the US Supreme Court will rule on whether Congress and inspectors can review US President Donald Trump's tax returns and other financial records, after Trump refused to give documents on his wealth level and holding companies. It is reported that Trump is the first US president not to release his tax returns to the public since President Nixon in 1970.

• U. S. government financial assistance to boost stock trading among retail investors?

Financial assistance from the US government helped raise personal disposable income in April and May, leading to an unprecedented surge in bank deposits. Some analysts believe the rise in deposits has also boosted stock / option speculation among retail investors.

• Us asset management giant: the focus of Q3 is expected to return to fundamentals, and active management is recommended during the "tumultuous period"
  

Junli Henderson, a large US investment management company that manages more than $360 billion, said that after months of madness, market sentiment would return to fundamentals in the third quarter as policy began to fade. Investors will need to assess "the nature of economic expansion after the initial rebound". It also recommends that investors adopt a more proactive approach to asset allocation amid a great deal of uncertainty.

• Vanguard pilot's outlook for the second half of the year: China's economy will lead the recovery, and the return of US stocks may not be as good as that of the world in the next decade.

Wang Qian, chief economist for the Asia-Pacific region led by Pioneer, the world's second-largest asset management company, believes that in the impact and response of the epidemic, the recovery of major economies may show an elongated U-shape, and only China may be biased towards V-shape. In addition, US stocks will have an average annualised return of 4 per cent to 6 per cent over the next decade, which will be lower than the average return on global stocks excluding the US of 7 to 9 per cent.

• European stock markets are mixed.

European stock markets were mixed, with Germany's DAX30 index up 1.37%, Britain's FTSE 100 index down 0.57% and France's CAC40 index up 0.16%.

Hot news

• Will NIO Inc. receive a credit line of more than 10 billion yuan? Response: subject to the announcement

Learn from people familiar with the matter$NIO Inc. (NIO.US) $It will receive a joint credit of 10 billion yuan from six major domestic banks, and will sign a credit contract at the NIO Inc. advanced manufacturing base in Hefei tomorrow. In response, NIO Inc. officially responded that it is not accurate, please wait for the news of the company to be released.

• Bilibili Inc. is also going back to Hong Kong for a second listing? The media said it planned to sell up to 10% of its shares.

According to media quotes, people familiar with the matter said$Bilibili Inc. (BILI.US) $Bilibili Inc.) intends to return to Hong Kong for secondary listing and has held preliminary negotiations with investment banks on the prospect of secondary listing. Negotiations are at an early stage and the exact amount raised is unclear, but Bilibili Inc. is considering selling a 5-10 per cent stake. Bilibili Inc. said he would not comment on this.

• NetEase, Inc's US stock rose more than 9% before the trading.

$NetEase, Inc (NTES.US) $Us stocks, which once rose more than 9 per cent before trading, are now up 8.46 per cent at $454.56. Today, Hong Kong stock NetEase, Inc closed up more than 10%, the highest intraday rise of more than 18%, the closing market value exceeded 530 billion Hong Kong dollars.

• Baidu, Inc. Li Yanhong: there is great hope that China will take the lead in setting off a trend of comprehensive artificial intelligence.

$Baidu, Inc. (BIDU.US) $In his speech at the Cloud Summit of the 2020 World artificial Intelligence Conference, Robin Li pointed out that China is actively promoting new infrastructure projects today, which can also be seen as the largest infrastructure project before mankind entered the intelligent economy and intelligent society. It has great hope that it will take the lead in setting off the trend of comprehensive artificial intelligence in China, and Baidu, Inc. hopes to contribute to this trend.

• Musk: Tesla, Inc. may solve the problem of fully autopilot this year.

At the opening ceremony of the World artificial Intelligence Conference$Tesla, Inc. (TSLA.US) $Musk said that he is very confident about achieving L5 autopilot or full autopilot in the future. "at Tesla, Inc., I think we are very close to L5 autopilot and are confident that we will complete the development of L5 basic functions this year," Musk said. "

• Goldman Sachs Group: raise Tesla, Inc. 's target price to $1300 and give him a neutral rating.

On Wednesday, local time, Goldman Sachs Group will make an electric car manufacturer$Tesla, Inc. (TSLA.US) $The target price was raised to $1300 from $950 and the stock was given a "neutral" rating. For a long time, Goldman Sachs Group analyst David Tamberino is extremely bearish on Tesla, Inc. stock. But now he has changed his attitude and raised Tesla, Inc. 's target price to $1300, which is about $100 lower than the company's current share price.

• Gilead Sciences Inc initiates clinical study of inhaled Redcivir

$Gilead Sciences Inc (GILD.US) $The company said it had launched a phase 1-year clinical study of the inhaled anti-COVID-19 drug Redcivir with a view to its use outside the hospital. Gilead also plans to conduct more clinical trials to evaluate the efficacy of redaciclovir in combination with anti-inflammatory drugs.

• Alphabet Inc-CL C signs a multi-year cloud service contract with Renault

$Alphabet Inc-CL C (GOOG.US) $It was announced on Thursday that it had been awarded a multi-year contract with France's Renault to store production data. This is Alphabet Inc-CL C's first major industrial cloud deal in France and the second major deal in Europe this week after signing a long-term cooperation agreement with Deutsche Bank on Tuesday.

• KKR, do it again! Acquisition of shares in Global Atlantic Financial Group for $4.4 billion

Global private equity giant$KKR & Co. (KKR.US) $The company will buy the publicly issued shares of Global Atlantic Financial Group from a small number of shareholders, with an estimated value of more than $4.4 billion, and KKR will own 60 per cent of the company upon completion of the deal, the company said in an announcement. With the landing of this acquisition, the scale of KKR in the field of insurance asset management will expand again.

• Ford Motor sales in China increased by 3% in the second quarter compared with the same period last year.

$Ford Motor (F.US) $China sold 158589 vehicles in the second quarter of this year, up 3 per cent from the same period last year, it said on Thursday. Sales growth was driven by "strong demand after the lifting of restrictions on the novel coronavirus epidemic", the company said in a statement.

• Chuanbei hopes to raise 3 billion US dollars in IPO in the United States, with a valuation target of more than 20 billion US dollars.

It is reported that KE Holdings Inc, which is supported by Softbank Corp., hopes to raise 3 billion US dollars in IPO in the United States. According to sources quoted by the Wall Street Journal: KE Holdings Inc IPO has a valuation target of more than $20 billion, and Goldman Sachs Group, China Renaissance Holdings Ltd. and Morgan Stanley will act as IPO underwriters for KE Holdings Inc.

Focus today

The United States will announce the number of initial and renewed jobless claims at 20:30 Beijing time. Analysts expect the number of new jobless claims to fall by 300000 to 18.95 million after an increase last week, and is expected to fall by 52000 to 1.375 million, which has been higher than expected recently.