Hot news

• There is no "save the market" signal! Powell's comments caused market panic.

Federal Reserve Chairman Jerome Powell warned the bond market on Thursday, but did not try to contain the rise in long-term interest rates.

The recent rise in bond yields "has caught my attention," he said at a webinar held by the media on Thursday. Mr Powell has repeatedly tried to reassure frightened markets that the Fed is still a long way from withdrawing massive stimulus measures, even though he has expressed hope for an improved economic outlook.

But as Mr Powell spoke, 10-year Treasuries widened their losses and inflation expectations hit new intraday highs, Mr Powell did not say what would be done to disappoint the market if he wanted to hold down long-term yields.

• Technology stocks are out of favor! The flagship ETF of "Bull Market Queen" erased all the gains in last year.

Technology stocks have fallen collectively recently as investors' concerns about inflation have intensified and US bond yields are expected to rise. Ark Innovation ETF fell 5.3 per cent on Thursday. Ark's flagship ETF has fallen 24% from its all-time high and has lost money so far this year. But while share prices have fallen from their highs, there has been little capital outflow from Ark Innovation ETF.

• Senior Wall Street trader: if the market thinks the Fed is out of control, it's dangerous.

Art Cashin, a senior trader on Wall Street, said investors continued to worry about the Fed's control of the bond market, causing volatility in the market. "it doesn't matter whether the Fed loses control or not," Cashin said. It is dangerous if the market thinks they are out of control. "

Cashinh stressed that investors should pay attention to the NASDAQ when trying to cope with volatility. "13000 is the key resistance level in the near future. If I fall below this point, I will fasten my seat belt. "

• Sing a different tune! Wedbush: technology stocks are expected to rise another 25% next year, so it's time to buy dips.

Daniel Ives, a senior technology analyst at Wedbush, says technology stocks can be bought on a bargain before they rise at least 25 per cent. "this week's risk-averse trading is painful for technology investors because of concerns about high valuations and bubbles, as well as rotational trading, rising US bond yields and concerns about the reopening of equities in the economy," Ives said. "

But Ives believes that the digital transformation has only just begun and will continue for several years in the cloud, web security, e-commerce and 5G enterprises. These sub-sectors are the vitality of the technology world, he said, and consumer and corporate demand will lead to a "multi-year growth boom" in the future.

• Analyst: the SPAC market is getting weirder and weirder, and the quality of merger objects is getting worse and worse.

Analysts point out that in the hot SPAC market, things are getting weirder and weirder. A leisure SPAC is now doing biotech deals, while a marijuana SPAC eventually merged with a space company. According to SPAC Research, SPAC are in a hurry to close the deal. More than 370 SPAC companies, with more than $118 billion in capital, are looking for acquisition targets.

Data show that nearly 60 SPAC companies set their merger goals in February alone, the largest month in history.

Review of US stocks

• Powell disappointed the market, and most of the large US technology stocks closed down.
  

Powell, chairman of the Federal Reserve, said in a speech that tighter financial conditions would be worrying and that the recent volatility in the bond market attracted his attention, but did not propose a solution. U. S. stocks closed on Thursday, and the three major U. S. stock indexes closed lower.

Most large technology stocks in the US closed down, with Apple Inc down 1.58%, Amazon.Com Inc down 0.91%, Netflix Inc down 1.81%, Alphabet Inc-CL C up 1.1%, Microsoft Corp down 0.36% and Tesla, Inc. down 4.86%.

• Hot Chinese stocks fell across the board.

Hot Chinese stocks fell across the board, with Qutoutiao (QTT.O) down 25.92%, EHang Holdings Limited (EH.O) down 15.22%, KE Holdings Inc. (BEKE.N) down more than 12%, Kingsoft Cloud Holdings (KC.O) down 11.58%, Bilibili Inc. (BILI.O) down nearly 9%, Dada Nexus Limited (DADA.O) and Niu Technologies (NIU.O) down more than 7%.

• CITIC: the reasonable valuation of Baidu, Inc. should be of the order of 120 billion US dollars.

CITIC published a research report that: benefiting from the recovery of the domestic online advertising market and the optimization of Baidu, Inc. 's own product & operation level, superimposed on this year's low base, Baidu, Inc. advertising is expected to return to double-digit growth in 2021, and the commercialization of innovative business is also expected to accelerate. Using segment valuation, Baidu, Inc. 's reasonable valuation should be of the order of US $120 billion in 2021, corresponding to the target price of US $360 / ADR, and 33 times the overall business PE of 2021, with a "buy" rating, while the positive progress of the automobile company will provide the company with higher valuation flexibility.

• Qutoutiao made a profit for the first time, and CEO said that rice reading users and income would double in the second half of the year.
  

Qutoutiao released financial results for the fourth quarter and full year of 2020. According to the financial report, Qutoutiao's revenue in the fourth quarter of 2020 was 1.302 billion yuan, down 21.5 percent from the same period last year, compared with 1.658 billion yuan in the same period last year. In 2020, Qutoutiao's total revenue reached 5.285 billion yuan, an increase of 15.3% over the previous month. Under non-American general accounting standards, the operating profit in the fourth quarter reached 42.5 million yuan, achieving the first quarterly profit since listing.

• Apple Inc faces antitrust investigation in the UK, and App Store's payment terms trigger complaints

Apple Inc is under a series of investigations around the world because of his dominance over application developers, and British antitrust authorities have also announced an investigation into Apple Inc's application payment terms. The Competition and Market Authority (CMA) said the investigation would focus on how Apple Inc forced customers to use its own payment system for in-app purchases and would assess the company's potential "dominance" in providing iPhone and iPad applications.

• Model3 cut prices in Japan, followed by a surge in demand

Tesla, Inc. (TSLA.O) cut the price of his Model 3 electric car by as much as 24% in Japan a few days ago. After the price adjustment, Japanese consumer demand was stimulated immediately, and the company received a large number of orders. According to the report, the current delivery time of Model 3 in Japan has been extended to 12 to 16 weeks. In fact, Tesla, Inc. has made it clear many times that there is no lack of demand for the company's electric cars, and that the company is currently building factories in many parts of the world to meet the needs of consumers in different markets.

• Wedbush analyst: China's demand for electric cars will help Tesla, Inc. reach a market capitalization of US $1 trillion
  

On Thursday, analysts at Wedbush believed that global demand, especially from China, would help Tesla, Inc. reach a market capitalization of $1 trillion this year. The optimistic view comes at a time when the electric carmaker's share price has been falling. In the past month alone, Tesla, Inc. has fallen by more than 25 per cent. As of Thursday's close, Tesla, Inc. was down 4.86% at $621.44.

• Spotify will surpass Apple Inc in the monthly audience of American podcasts.

According to TechCrunch, Spotify (SPOT.N) will surpass Apple Inc (AAPL.O) in the monthly audience of American podcasts. The eMarketer report predicts that the monthly audience of Spotify podcasts in the United States will reach 28.2 million, surpassing Apple Inc's 28 million. Over the past few years, Spotify has been seriously increasing its investment in podcasts, making a number of acquisitions and establishing a series of exclusive shows. Now it seems that these efforts are beginning to pay off.

• Close shop 20%, Walt Disney Company hugs online

According to the plan announced by Walt Disney Company on Wednesday, at least 60 stores in North America will be closed this year, while Walt Disney Company currently has about 300 Walt Disney Company stores worldwide. This means that the number of closures is equivalent to about 20 per cent of its global stores. And 20% may be just the beginning. After closing this batch of stores, Walt Disney Company will re-evaluate the need to close more stores. Walt Disney Company also said that large-scale layoffs may be carried out in areas where shop closures are planned, but did not disclose a specific number of layoffs.

• It is said that Flipkart, an Indian e-commerce owned by Wal-Mart, is considering listing through SPAC.

Flipkart, an Indian e-commerce company owned by Walmart Inc Department Store, is reportedly considering listing in the United States through a merger with a blank check company. Flipkart has approached several SPAC companies and expects a valuation of at least $35 billion.

The Prospect of Hong Kong City

• There was a net outflow of HK $1.339 billion from the south on Thursday.

• The net profit is estimated to be 10 million to 20 million yuan in 2020.

According to the announcement, the Group expects to record a net profit of between $10 million and $20 million in 2020 and about $290 million in 2019.

• Tianfeng Securities: Haidilao International Holding accelerates expansion to help release performance and maintains "buy" rating

According to a research report issued by Tianfeng Securities, Haidilao International Holding occupies a high-quality hot pot track, people-oriented quality service increases brand premium, a unique management model effectively maintains a high level of operational efficiency, and a stable and efficient supply chain ensures the ability to expand profitability. The company accelerated its expansion, releasing capacity when its stores matured and maintaining a "buy" rating.

Niuniu morning reading:

Investors don't have to do a lot of things right, but it's important not to make big mistakes.

-- Buffett