Tesla, Inc.: "Model 3 dropped to 199000" is a rumor; COVID-19 vaccine is expected to be authorized for emergency use before the end of the year, Moderna Inc rose by more than 2% at the beginning of the session; the US Department of Justice will launch an antitrust lawsuit against Alphabet Inc-CL C; BABA: this year, double 11 platform funding is the largest in history.

Global macro

• JPMorgan Chase & Co: the relative performance of technology companies may become the fuse of plate rotation.

Profits in the technology sector, which leads the market, are expected to remain strong in the third quarter, but the performance correction appears to have peaked. JPMorgan Chase & Co's strategists said, "the revision of the technology sector's relative earnings per share is currently weakening, while the sector is still stronger than the market, which creates a huge gap, which may trigger plate rotation." "

• Mnuchin and Pelosi will meet again on whether the stimulus package can be passed before the general election.

After months of intermittent negotiations on the fiscal stimulus package, whether US Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi can agree on an epidemic relief deal before election day is expected to be a "life-and-death" day on Tuesday. During his visit to the Middle East, Mnuchin will talk to Pelosi on the phone to try again to bridge the differences between the White House and the Democratic Party on a large number of issues.

Trump said he would see if House Speaker Nancy Pelosi would change his mind. It is hoped that there will be a bigger stimulus package than the Democratic Party proposes. If there is a bailout deal, Senate majority leader Mitch McConnell is expected to support it.

• Blackrock: when the scale of global debt restructuring during the epidemic or exceeded the financial crisis

Blackrock, the world's largest asset manager, said on Tuesday that the scale of global debt restructuring needed during the COVID-19 epidemic could exceed its pre-peak after the global financial crisis in 2008. Outstanding debt rated below investment grade, including loans and private credit, has more than doubled to $5.3 trillion since 2007, according to the company.

• Bill Gross, the old debt king, "comes out again", betting on green energy
  

Mr. Gross's creative lab has invested $2 million in seed money for three renewable energy companies: Energy Vault, solar power company Heliogen and carbon capture company Carbon Capture Inc. Laboratories have the largest stake in these companies, and they have attracted $200 million in external investment. In Gross's view, the epidemic is likely to be a turning point in the development of renewable energy.

• European bond issuance exceeded 1.5 trillion euros, a record high

Annual issuance in Europe's primary bond market exceeded 1.5 trillion euros ($1.77 trillion) for the first time, according to data compiled by Bloomberg. Local bond issuance rebounded after it was halted in March because of the worsening epidemic, as companies, governments and institutions rushed into the bond market to raise money to help them deal with the COVID-19 epidemic. The stimulus measures introduced by the central bank have also helped push down financing costs.

• Before the US stock market, the futures of the three major stock indexes rose

Before Tuesday, the futures of the three major indexes of u.s. stocks all rose slightly, with Dow Jones index futures leading the way, while Nasdaq futures fell rapidly, narrowing their gains to less than 0.1%.

• European stock markets were mixed on Tuesday.

Hot news

• Will Model 3 be reduced to 199000? Tesla, Inc., general manager of China, responded: spreading rumors

For$Tesla, Inc. (TSLA.US) $Wang Hao (Allan Wang), general manager of Tesla, Inc. China, responded to rumors in Tesla, Inc. che Youqun on the afternoon of October 20 that the price of Model 3 had been reduced to 199000 yuan.

• The US Department of Justice launched an antitrust lawsuit against Alphabet Inc-CL C, and Alphabet Inc-CL C fell before the A market.

According to the Wall Street Journal, the U.S. Justice Department will report to the U.S. Justice Department on Tuesday.$Alphabet Inc-CL C (GOOG.US) $To initiate an antitrust lawsuit. Alphabet Inc-CL An opened low and then went higher, and now it is up 0.87%.

• Microsoft Corp will cooperate with SpaceX to carry out satellite-based cloud service plan

According to the Wall Street Journal$Microsoft Corp (MSFT.US) $Will work with Elon Musk's SpaceX and other companies to provide a satellite-based cloud service to work with$Amazon.Com Inc (AMZN.US) $Competition.

Microsoft Corp will help link and deploy new services and use a large number of low-orbit spacecraft proposed by SpaceX, as well as a more traditional fleet of satellites orbiting the earth at higher altitudes, the report said. Microsoft Corp said that in addition to working with SpaceX, the company also worked with SES SA in Luxembourg, which separately operates a larger satellite network far from the earth under the brand name O3b.

• BABA acquires 6.1% stake in Swiss duty-free retail giant Dufry

Swiss duty-free retail giant Dufry revealed on Tuesday that Chinese e-commerce giants are part of a capital increase of 820 million Swiss francs ($900 million).$BABA (BABA.US) $Will get 6.1% of its shares. Earlier this month, BABA and Dufry announced plans to form a joint venture to develop business in the Chinese market.

• Barclays: raise the target prices of BABA, Baidu, Inc. and JD.com

Barclays said it would$BABA (BABA.US) $The target price will be raised from $320 to $360.$Baidu, Inc. (BIDU.US) $The target price was raised from $130 to $140.$JD.com (JD.US) $The target price was raised to $89 from $83.

In addition, at the news conference of the 2020 Tmall Singles Day global carnival season, Jia Luo, vice president of BABA Group, revealed that this year will be "the largest contribution of the platform in history." the platform will hand out 4 billion cash red envelopes, 10 billion category subsidies and 20 billion brand coupons, twice the overall size of last year.

• Logitech rose nearly 20%, and net profit in the second quarter soared 2.6 times.

Computer peripherals manufacturer$LOGI.US (Logitech)The share price soared nearly 20%. Logitech's second-quarter net profit surged 2.6-fold to $267 million on Tuesday, driven by telecommuting, while sales rose 75 per cent year-on-year to $1.26 billion, the company's first quarterly sales above the $1 billion mark, the company reported on Tuesday.

• UBS's net profit nearly doubled in the third quarter

UBS (UBS.US) $Net profit surged 99% in the third quarter from a year earlier, thanks to a strong performance in investment banking and an unexpected increase in profits in wealth management, according to results released on Tuesday. The bank's third-quarter net profit rose to $2.09 billion from $1.049 billion a year earlier, well ahead of market expectations.

• Moderna Inc said that his COVID-19 vaccine is expected to be authorized for emergency use by the end of the year.

$Moderna Inc (MRNA.US) $Pre-market gains widened to 5 per cent, and Stephane Bancel, chief executive of Moderna Inc, a US biotech company, said on Monday that the US government could approve emergency use of its experimental novel coronavirus vaccine in December, provided the company got positive interim results from a large clinical trial in November. Moderna Inc rose more than 2% at the beginning of the session.

• BioNTech: the Marburg plant will produce 250 million doses of COVID-19 vaccine in the first half of next year, which will be supplied to China.

$BioNTech SE (BNTX.US) $In a recent interview with Caixin, the COVID-19 vaccine supplied to China will be produced at its Marburg plant in Germany, which acquired Novartis in September and is expected to have a production capacity of about 250 million doses in the first half of 2021.

BioNTech signed a cooperation agreement in March with Shanghai Fosun Pharmaceutical, a Chinese company, which will be responsible for the research, development and commercialization of mRNA vaccines in China and supply a total of 10 million doses to Hong Kong and Macau. This means that if approved by the State Drug Administration, Chinese people will also have the opportunity to be vaccinated against mRNA.

• Procter & Gamble Co Q1 has net sales of US $19.3 billion and net profit of US $4.3 billion

$Procter & Gamble Co (PG.US) $Pre-market results for the first quarter of fiscal 2021 showed net sales of $19.3 billion, up 9% from a year earlier, and net profit of $4.308 billion, up 19% from a year earlier. The company's share price is more than 2 per cent higher.

• Kaixinqic fell more than 27% before trading and its share price closed up nearly 300% yesterday.

China listed stock$Kaixinqic (KXIN.US) $Share prices fluctuated sharply, falling as much as 27 per cent before trading. As of Monday's close, Kaixinqic closed up nearly 300% at $8.15 a share. The company's shares have soared more than 1300 per cent since October 1.

October financial report calendar