Wall Street's most accurate analyst: us stocks will face a 10 per cent adjustment by the end of the year; AstraZeneca PLC plans to start supplying COVID-19 vaccine by the end of the year, or produce 20 million doses; BABA CEO Zhang Yong said he would actively learn and respond to national policies and regulations; Niu Technologies fell 7 per cent before the day, and Q4 revenue is expected to fall more than 30 per cent month-on-month.

Global macro

• Wall Street's most accurate analyst: us stocks will face a 10% adjustment by the end of the year

Michael Wilson, chief US equity strategist at Morgan Stanley, warned that US stocks would face a further 10 per cent adjustment ahead of next year's bull market. The cooling of market optimism may be an important driver of the adjustment. He said that the number of new confirmed COVID-19 cases and deaths around the world was still increasing, while the vaccine could not be distributed on a large scale in the next three to four months, and the market would soon be aware of this "bad news".

In the long run, Wilson believes that the adjustment before the year before will not affect the bull market of U. S. stocks next year. Wilson believes that economic growth and higher real interest rates next year will boost cyclical, value and small-cap stocks, which he says are typical of the first year after the recession ends. Wilson expects the S & P 500 to rise another 10 per cent over the next 12 months.

• Xiao Mo: 300 billion US dollars may flow out of global stock markets at the end of the year.

JPMorgan Chase & Co strategists say the stock market has performed strongly so far this month, after which large multi-asset investors are likely to move money from equities to bonds. The stock market is expected to be affected by balanced mutual funds in the short term. Such funds, worth $7,000bn, must sell about $160 billion of shares globally by the end of November or the end of the year to return to a portfolio of 60Universe 40, and if the stock market rises in December, these pensions may sell another $150 billion of shares by the end of the month in order to rebalance on a quarterly basis.

• Futures of the three major stock indexes of the United States rose across the board.

As of press time, Dow futures rose 0.69% to 29415 points, Nasdaq futures rose 0.4% to 11953 points, and S & P futures rose 0.63% to 3576.75 points.

• 1/3 of the global 5G network comes from Chinese technology

According to statistics, from 2020, 1/3 of the global 5G network will come from Chinese technology, according to the blue book of China Internet Development report 2020 released today. China leads the world in 5G technology and has an obvious advantage in the number of patent applications. Huawei ranks first and ZTE Corporation ranks third.

• Gartner:Q3 shipped 366 million smartphones worldwide, down 5.7% from a year earlier.

Global smartphone shipments fell 5.7 per cent year-on-year to 366 million in the third quarter of this year, according to a report released today by authoritative research firm Gartner. In terms of brands, Samsung continued to take the lead in overall shipments of 80.8 million units in the third quarter, with a market share of 22%. Among the top five mobile phone manufacturers, only Samsung and XIAOMI saw their shipments rise, up 2.2% and 34.9% respectively. With a strong increase, XIAOMI surpassed Apple Inc in mobile phone shipments and ranked third in the third quarter. Huawei, on the other hand, kept its runner-up position.

• Spain to release complete COVID-19 vaccination plan

Spanish Prime Minister Sanchez recently announced that Spain and Germany will be the first countries to release a complete COVID-19 vaccination plan, which is expected to be released at a cabinet meeting on November 24, local time, according to CCTV. Mr Sanchez said Spain had signed an agreement with the EU on the COVID-19 vaccine and that the country would be allocated 10 per cent of the dose of the vaccine received by the EU. 13000 vaccination sites will be set up nationwide and a unified vaccination plan will be adopted nationwide to ensure that all priority groups will be able to take the lead in vaccination, which is expected to begin in early 2021.

• Most European stock markets rose.

European stocks rose mostly in intraday trading, while the FTSE 100 index fell slightly by 0.02%. Germany's DAX30 index rose 0.57% to 13212.30.

Hot news

• Tesla, Inc. responded to "the skylight fell": the vehicle has replaced the roof glass in a third party and is under further investigation.

A few days ago, a netizen uploaded a video of a car driving in front of it.$Tesla, Inc. (TSLA.US) $The skylight is suspected to have fallen. In response, Tesla, Inc. responded through Weibo Corp, "We have immediately contacted the car owner and are helping the car owner to solve the problem as soon as possible." After preliminary investigation, the vehicle has replaced the roof glass in the third-party authorized sheet spray center, and we are making further investigation into the cause of the incident. "

• Wedbush: Biden's new government may be good for Tesla, Inc., raising its target price to $560

Wedbush analyst Daniel Ives will$Tesla, Inc. (TSLA.US) $The target price was raised to $560 from $500, maintaining a neutral rating. At the same time, the analyst raised his bull market forecast to $1000. The analyst pointed out that the demand curve for Tesla, Inc. electric vehicles will be steeper in the next 18 to 24 months, with China and Europe being the key to growth. He called China a "brand new electric car market plan" and said that "given the pent-up demand for electric vehicles at all prices, total electric vehicle sales in the region are likely to double in the next few years. "

• Analysts raised their initial iPhone 12 sales forecast from 75 million to slightly less than 90 million

According to foreign media reports, Wedbush analyst Daniel Ives (Daniel Ives) said in a report to investors that recent surveys in Asia show that Chinese and American consumers$Apple Inc (AAPL.US) $Demand for iPhone 12 is growing, and he now expects suppliers to ship 80 million iPhone 12 initially. Mr. Ives also raised his sales forecast for the iPhone 12 series. At the end of October, he expected initial sales of 75 million units, but now he has raised sales to just under 90 million.

• NVIDIA Corp CEO Huang Renxun: antitrust regulation is beneficial to the acquisition of Arm
  

According to media reports$NVIDIA Corp (NVDA.US) $They have reached a final agreement with Softbank Corp. Group, the owner of Arm, to buy chip architecture provider Arm for cash and stock, in a deal valued at $40 billion, the company announced on its website. As for the impact of antitrust regulation on NVIDIA Corp's acquisition of Arm, Huang Renxun said their assessment is that regulation is beneficial to the acquisition.

• Alphabet Inc-CL C and AMD are helping Taiwan Semiconductor Manufacturing Co Ltd test 3D stack packaging technology.

According to foreign media reports$Alphabet Inc-CL C (GOOG.US) $和$Advanced Micro Devices Inc (AMD.US) $Is helping$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $Test and verify 3D stack packaging technology, which is expected to be put into large-scale production in 2022. Alphabet Inc-CL C and AMD will become the first customers of Taiwan Semiconductor Manufacturing Co Ltd's chip packaging technology.

• AstraZeneca PLC plans to start supplying COVID-19 vaccine before the end of the year.

$AstraZeneca PLC (AZN.US) $It said that the vaccine AZD1222 was effective for novel coronavirus, reaching the main end point, with an average effectiveness of 70 per cent. The effectiveness of one dose of vaccine treatment can be up to 90%, and the vaccine can be stored in normal refrigerator conditions. Its CEO said today that it plans to start supplying vaccines by the end of this year, saying it will produce 20 million doses of COVID-19 vaccine by the end of this year. In addition, AstraZeneca PLC reported no serious safety incidents related to the vaccine.

• The UK aims to gradually launch AstraZeneca PLC and Pfizer Inc vaccines next month.

British Health Secretary Matt Hancock said the UK plans to launch it next month.$AstraZeneca PLC (AZN.US) $、$Pfizer Inc (PFE.US) $Two kinds of COVID-19 vaccine, and then the promotion of the vaccine plan will accelerate the pace after entering the New year, so that the situation will gradually return to "normal" from the spring. "if all goes well in the next few weeks, then we will aim to launch the Oxford-AstraZeneca PLC and Pfizer Inc vaccination plans next month, but in any case, the mass release of the vaccine will have to wait until after the New year," Hancock said in an interview. "now we are highly confident that everything can really start to return to normal after Easter. "

• XPeng Inc. rose more than 13% in intraday trading to reach a new high.

As of press time, XPeng Inc. rose more than 13% to US $61.17.

• BABA CEO Zhang Yong: will actively study and respond to national policies and regulations to build a healthier platform economy

$BABA (BABA.US) $Zhang Yong, chairman of the board of directors and CEO of the Group, said at the main forum of "Digital economy and Science and Technology Anti-epidemic" that BABA has been adhering to the digital vision for many years and using the power of digital technology to bring users a better life. So that customers do not have a difficult business. For the future development of platform economy, we will actively study and respond to national policies and regulations, build a healthier platform economy with our own higher requirements, and make our modest contribution to the construction of network power and digital China.

• Pinduoduo: never applied for a direct selling banking license. Please stop spreading rumors in your own media.

For "$Pinduoduo (PDD.US) $According to the rumor that he is applying for a direct selling bank, Pinduoduo responded that the company has never applied for a direct selling banking license and has not participated in any bank that applied for this license. Please stop spreading rumors in your own media. Pinduoduo said that not only has he never applied for this licence in the past, but "he will not apply for a direct selling banking licence in the future".

• Baozun Inc's revenue in the third quarter was 1.83 billion yuan, an increase of 21.75% over the same period last year.

E-commerce acting as an operating company$Baozun Inc (BZUN.US) $Revenue in the third quarter was 1.83 billion yuan, and the market estimated 1.793 billion yuan, compared with 1.503 billion yuan in the same period last year, an increase of 21.75% over the same period last year. In 2020, Q3 earned 0.36 yuan per share, and the market expects 0.89 yuan, compared with 0.99 yuan in the same period last year. Non-GAAP net income was 91.5 million yuan, up 55.1% from a year earlier. The total merchandise trading volume (GMV) was 10.844 billion yuan, an increase of 19.4% over the same period last year. The number of cooperative brands increased to 260 from 223 in the third quarter of last year.

• Taiwan Semiconductor Manufacturing Co Ltd Nanjing Factory has a monthly production capacity of 20, 000 tablets, and there are no further plans to expand production at present.

$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $At present, the monthly production capacity of the Nanjing plant has reached the original target of 20,000 tablets, and the production technology is mainly 12 nm and 16 nm. Earlier, there was market news that Taiwan Semiconductor Manufacturing Co Ltd decided to start the second phase of the expansion of the Nanjing plant, and mainly to 28 nm process. Taiwan Semiconductor Manufacturing Co Ltd said that at present, there are no specific plans for further expansion of the Nanjing plant.

• Niu Technologies plunged 7%, and Q4 revenue is expected to decline by more than 30% month-on-month.
  

$Niu Technologies (NIU.US) $Unaudited financial results for the third quarter ended September 30 are released today. According to the financial report, Niu Technologies's revenue in the third quarter was 894 million yuan, an increase of 36.7% over the same period last year. Under non-US general accounting standards, the net profit was 90.6 million yuan, compared with 72.5 million yuan in the same period last year. As of press time, the Mavericks were down more than 7% before trading and are now trading at $33.16, down 7.19%.

In the first half of this year, in the context of the global war epidemic, electric vehicles, as an important means of safe transportation, ushered in a dividend period, but recently COVID-19 vaccine has been coming out frequently. If the follow-up vaccine is approved and listed, public transport demand will be repaired. Part of the electric vehicle travel demand is bound to be crowded. Niu Technologies expects revenue in the fourth quarter of 2020 to be 565 million-615 million yuan, an increase of 5% and 15% over the same period last year. But the month-on-month decline was 31.2%, 36.8%.

• Zepp Health's net profit in the third quarter was 81.1 million yuan, down 60% from the same period last year.

XIAOMI ecological chain enterprise$Zepp Health (HMI.US) $Unaudited results for the third quarter of fiscal year 2020 are released today. According to the financial report, Huami's net revenue in the third quarter was 2.2351 billion yuan, up 20% from the same period last year. Huami's net profit was 81.1 million yuan, down 60% from 203.3 million yuan in the same period last year.

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