NIO Inc. won the ten consecutive championships of domestic pure electricity SUV on ES6; Wall Street analysts: were it not for the technology five, the return on holding cash would have been better than stocks in the past few years; WiMi Hologram Cloud Inc, the first share of holographic AR, rose more than 40% before trading, and the stock closed up 280% on Friday.

Global macro

• The futures of the three major stock indexes in the United States rose before the session.

Us stock index futures rose slightly before trading on Monday. As of press time, Dow futures were up nearly 200 points; the S & P 500 index was up 0.69%; and the Nasdaq was up 0.9%.

• What is yield curve control? Bridge Water Fund: the return of bond investors depends on it.

The Bridge Water Fund recently released a report saying that if the government uses low interest rates to finance a huge budget deficit and injects funds directly into the economy, the YCC policy will be the most effective. For investors, the return on holding bonds under the yield curve control policy will depend largely on the policy details, especially the steepness of the yield curve set by policy makers.

• Goldman Sachs Group: Q2 US stock profits will plummet by 60%

Overall earnings per share of the s & p 500 are widely expected to fall 44% in the second quarter from a year earlier. Although this prediction is bad enough, Goldman Sachs Group still thinks it is too optimistic. Goldman Sachs Group predicts that earnings per share will fall more than 60 per cent in the second quarter compared with the same period last year.

• The worsening epidemic dragged down the economic outlook, as US stocks faced their worst earnings season in 12 years.

In the coming week, US stocks will usher in a new earnings season, which may be a litmus test of the market rebound. It is widely expected to be the worst earnings season since the 2008 financial crisis. At the same time, a number of important economic data were released this week, including inflation data released on Tuesday and retail sales data released on Thursday, with the market closely watching the impact of the rebound in the epidemic and high unemployment on consumer spending.

• Bernstein: if the Fed expands its stimulus again, active investors will make it harder to make decisions.

Quantitative strategists at Sanford Bernstein, an investment bank, believe that if the Fed is forced to expand its balance sheet again, it will lead to a further rise in the stock market, but when valuations and pricing fail, active stock investors may face a "terrible environment".

• Investors are facing difficulties: us stocks rely too much on the five tech giants and be on guard against a pullback

The five U.S. technology giants, with a combined market capitalization of nearly $7 trillion, play a vital role in leading the rebound in U.S. stocks, but investors should also be wary that a pullback in the technology industry will inevitably bring volatility to the market. Wall Street analysts point out that, were it not for the Big five, cash holdings would have been better than stocks in the past few years.

Since 2017, investment returns in the US stock market have been entirely dominated by Apple Inc, Microsoft Corp, Amazon.Com Inc, Alphabet Inc-CL C's parent company Alphabet and Facebook, and the market would have made almost no return had it not been driven by these heavyweights.

• Wilmington Trust: Wall Street is very tangled, questioning the rising trend and worrying about falling short.

Megan Shu, director of investment strategy at Wilmington Trust, one of the top 10 US trusts, said recently that with the surge in the number of coronavirus infections in the United States and the upcoming second-quarter results, Wall Street is engaged in a tug-of-war-between scepticism about the rise and fear of going short.

• The rebound of the epidemic in the United States affects the economic recovery and may shrink by 20% in the third quarter.

The latest employment data released by the Labor Department showed that the US economy added 4.8 million jobs in the non-agricultural sector in June, exceeding market expectations. According to US public opinion, there have been some signs of economic recovery recently, but due to the rebound of the epidemic in many states, the severe epidemic situation is causing fundamental damage to the job market and dragging down the overall recovery of the US economy.

• Residents with a slow economic recovery are unable to repay their mortgages, and 28 million Americans are afraid to be homeless.

On Sunday, market analyst Jeffry Bartash wrote that a new outbreak across the United States has led to a decline in the momentum of its economic recovery, especially in the retail and restaurant sectors. At the same time, the number of Americans applying for unemployment benefits is also soaring. Other experts warn that this summer alone, about 28 million people in the United States will face eviction and homelessness by landlords because they are unable to pay their rents or mortgages.

• European stocks rose across the board.

As of press time, the European Stoxx 50 index rose more than 1%, the Stoxx 600 index rose 1.41%, Germany's DAX index rose 0.85%, France's CAC 40 index rose 1.43%, and Spain's IBEX index rose 1%.

Hot news

• NIO Inc. won the ten consecutive championships of domestic Pure Electric SUV in ES6.

July 13 news, recently, the China Automotive Technology Research Center released the domestic auto market insurance data for June 2020. According to the data,$NIO Inc. (NIO.US) $The number of insured units in June totaled 3720, an increase of 10 percent over the previous month; in the second quarter, the total exceeded 10, 000, reaching 10229, an increase of 168 percent over the previous quarter.

The number of new NIO Inc. ES8 was 1256 in June, up 73% from the previous month, returning to the top 10 of more than 400000 medium and large SUV.

• Tencent's shareholding in NIO Inc. increased to 16.3%.

According to documents filed by the Securities and Exchange Commission, between June 10 and July 8, Tencent made a statement on$NIO Inc. (NIO.US) $The proportion of common shares in class An automobile increased from 15.1% to 16.3%.

• WiMi Hologram Cloud Inc soared by more than 40% before the trading.

Known as "the first share of holographic AR"$WiMi Hologram Cloud Inc (WIMI.US) $Pre-market gains narrowed to 43 per cent, after rising 155.64 per cent earlier, and the stock closed 280 per cent higher on Friday. It is reported that on Friday, WiMi Hologram Cloud Inc said that the company plans to use holographic AI face recognition technology and holographic AI face changing technology as the core technology, through a number of innovative systems to support holographic cloud platform services and 5G communication holographic applications.

• Ant Financial Services Group holds shares: Jack Ma holds about 8.8%, with 50% voting rights

$BABA (BABA.US) $According to the 2020 fiscal year report, BABA holds 33 per cent of Ant Financial Services Group, Junhan and Junao hold 50 per cent of Ant Financial Services Group, while Junhan belongs to Jack Ma, Ali and Ant employees, and Junao is part of BABA's partnership. As a result, BABA and Ali members hold about 83 per cent of Ant Financial Services Group. Among them, Ma Yun holds 8.8% of Ant Financial Services Group, and the market value of Ant Financial Services Group held by Ma Yun is 13.7 billion US dollars based on the valuation of Ant's last round of financing of 155.6 billion US dollars.

• Tencent Music released his second quarter 2020 results on Aug. 11.

$Tencent Music (TME.US) $It was announced today that the results for the second quarter of 2020 will be released after the US stock market closes on August 10, 2020. Tencent Music's management team will hold an earnings conference call at 8: 00 p.m. eastern time (or 8: 00 a.m. on August 11, Beijing time).

• Baidu, Inc. AI accelerated to reach a cooperation of over 10 billion yuan with China National Building Material Group.

News on July 13th$Baidu, Inc. (BIDU.US) $Signed a strategic cooperation agreement with China National Building Material Group, will carry out in-depth cooperation in smart logistics, digital mines, smart factories, industrial self-driving, and other fields. It is reported that the first phase of cooperation between the two sides has signed a contract of 27 million yuan, and the value of the entire strategic cooperation will exceed 10 billion yuan.

• Pfizer Inc: 100 million doses of vaccine are expected to be produced by the end of 2020

$Pfizer Inc (PFE.US) $The company currently expects to produce 100 million doses of vaccine by the end of 2020 and may produce more than 1.2 billion doses by the end of 2021, the company said. Previously, the US Food and Drug Administration designated "fast track" for two MRNA-based SARS-COV-2 vaccine candidates, Pfizer Inc and BIONTECH, a biopharmaceutical company.

• PepsiCo: Q2 net profit $1.646 billion

$PepsiCo Inc (PEP.US) $Q2 reported second-quarter net revenue of $15.945 billion, $480 million higher than market expectations, compared with $16.449 billion in the same period last year, while net profit attributable to the company was $1.646 billion, compared with $2.035 billion in the same period last year, Q2 reported before trading.

• Sources say Apple Inc may cut off the MacBookAir product line.

According to the source, a person familiar with the matter revealed$Apple Inc (AAPL.US) $Next may continue to adjust the Mac notebook product line, will be cut MacBook Air product line, will push 14-inch entry new book. In addition, MacBook series shipments are expected to grow by more than 20% month-on-month in the third quarter, with a significant increase in its new MacBook Pro orders by the end of the third quarter.

• Amazon.Com Inc will launch 3236 satellites

On the morning of July 13, according to foreign media reports$Amazon.Com Inc (AMZN.US) $The company's communications satellite fleet plan is supported by the chairman of the Federal Communications Commission (FCC), and Amazon.Com Inc plans to use 3236 satellites to complete the project.