Global macro

• Wharton School Professor Siegel: us stocks are expected to rise 30-40% this year, with an inflation rate of 5%.

Jeremy Siegel, a prominent US economist and professor of finance at Wharton Business School, said on Thursday that "the stock market could rise 30 or 40 per cent before the Fed's position becomes very tough", but could fall 20 per cent after the Fed changes course. Siegel expects the US economy to grow strongly this year. But he said it could release inflationary pressures. "I think interest rates and inflation will rise much more than the Fed expects," he said. We are going to have a year of strong inflation. I think the inflation rate is 4% to 5%. "

• Bank of America Corporation: stock funds have attracted 576 billion US dollars in the past five months, more than the total of the past 12 years.

Bank of America Corporation says equity funds have absorbed $576 billion in inflows in the past five months, more than in the past 12 years combined.

• 200000 huge options orders were revealed, betting that the volatility of US stocks would double after 3 months.

On Thursday, an options trader bet that the "horror index" (VIX) would rise to 40 in July and not below 25, compared with the current VIX index of 17. The trader made several big trades and bought a total of 200000 call options. The logic behind the trader's behaviour is also easy to understand-the coming tax increases, a strong economic recovery and rising inflation have made traders worry that the recent calm in the stock market will not last long. As the stock market rises and protection costs fall, many people begin to increase protection measures to prevent the situation from deteriorating.

• The futures of the three major US stock indexes fluctuated before the session, while the Nasdaq fell slightly.

Before the US stock market opened on Friday, the futures of the three major stock indexes were mixed. As of press time, Dow futures rose 0.19% to 33453, S & P 500 futures rose 0.04% to 4090.5, and Nasdaq futures fell 0.28% to 13709.5.

• KPMG: the transformation of new energy vehicles will bring about a reshuffle in the industry.

According to foreign media reports, consulting firm KPMG conducted a comprehensive study of the developing electric vehicle market, pointing out that the industry-wide shift to electric vehicles is a life-and-death challenge for automakers, but it did not happen in an instant. The report says that over the next 20 years, the global car market will have a hodgepodge of drive systems, including battery-powered, hydrogen-powered, gas-electric hybrid and fuel-powered cars. By 2030, electric vehicles will account for 24% to 37% of the global car market.

• European stock markets are mixed.

As of press time, the European Stoxx 50 index rose 0.09%, Germany's DAX30 index rose 0.15%, and the UK's FTSE 100 index fell 0.21%.

Hot news

• Apple Inc and Qualcomm Inc face patent lawsuit: iPhone 12 is accused of infringing RF calibration patent

$Apple Inc (AAPL.US) $和$Qualcomm Inc (QCOM.US) $The specific 5G technology used by the two companies was sued for infringement of an RF calibration patent. Patent licensor Red Rock, which holds a patent for calibration of wireless transceivers No.7346313, filed a lawsuit in Southern Texas District Court on Thursday. In this case, it focuses on a small number of Qualcomm Inc 5G wireless transceivers.

• British company sues Microsoft Corp for $370 million: crackdown on second-hand software transactions

According to reports,$Microsoft Corp (MSFT.US) $Sued by a company in the UK, the plaintiff accused Microsoft Corp of cracking down on a multibillion-dollar market for second-hand software. The plaintiff demanded 270 million pounds ($371 million) in economic losses from Microsoft Corp. The plaintiff is a British "value licensing company", which buys licenses from longtime corporate users of Microsoft Corp software (which either upgrade their IT systems or go bankrupt) and resell them in the UK and Europe.

• FTC says Facebook Inc is a social network monopoly and can oppose the acquisition at any time.

The Federal Trade Commission (FTC) filed a document with the court late Wednesday saying$Facebook Inc (FB.US) $Belonging to the monopoly of "personal social network", "it violates the anti-monopoly law by using means other than competition to maintain its dominant position". FTC urged the judge to speed up the trial of his lawsuit against Facebook Inc, saying Facebook Inc was trying to make the lawsuit "stillborn".

• Musk said the supply of chips is better than that of his peers and will benefit from the US government's stimulus package.

The $174 billion electric vehicle stimulus package proposed by US President Joe Biden includes $100 billion in subsidies to consumers and an investment of $15 billion in 500000 charging stations, according to Reuters. The new stimulus package could boost the performance of electric car makers, including Tesla, Inc.. In addition$Tesla, Inc. (TSLA.US) $CEO Elon Musk tweeted on Thursday that Tesla, Inc. 's chip supply was better than his peers and thanked the suppliers.

• Tesla, Inc. 's March sales of 35478 vehicles in China reached the highest in a single month, while the monthly sales of Model Y exceeded 10,000 for the first time.

FIFA announces car sales in China in March 2021$Tesla, Inc. (TSLA.US) $A total of 35478 vehicles were sold, setting a new record for Tesla, Inc. 's monthly sales in China. Tesla, Inc. 's Model 3 sales reached 25327, up 85 per cent from the previous month, according to the data. The newly launched Model Y sold more than 10, 000 vehicles a month for the first time, up 119% from the previous month.

• The price of Model 3 increases for the third time in nearly a month, and Tesla, Inc. faces the cost challenge.

$Tesla, Inc. (TSLA.US) $The official website of the United States has once again raised the prices of some models of Model 3 and Model Y, including the standard life upgrade version and long-range version of Model 3. Tesla, Inc. has raised the price of Model 3 three times in the past month. On March 11 and 24, Tesla, Inc. twice raised the price of the standard battery life upgrade version and the long-lasting full-drive version of Model 3 by $500. so far, the price has increased by $1500. Strong demand for car production, superimposed by rising global inflation expectations, recent signs of rising commodity prices, or the main reasons for Tesla, Inc. 's price increases for Model 3 and Model Y.

• Boeing Co notified the grounded 737 Max aircraft due to possible electrical problems.

$Boeing Co (BA.US) $A potential electrical problem was found in some 737 Max aircraft and 16 customers were notified to be grounded until the problem was resolved. Boeing Co said in an announcement on Friday that grounded flights have been recommended to verify whether there are sufficient grounding paths for a component of the power system. The company said the problem was a "production problem" for specific batches of aircraft and was being resolved in cooperation with the Federal Aviation Administration.

• Taiwan Semiconductor Manufacturing Co Ltd's revenue in March was 129.13 billion New Taiwan dollars, an increase of 13.7% over the same period last year, and the monthly revenue reached a record high.

$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $Revenue in March was NT $129.13 billion, up 13.7% from a year earlier and 21.2% from a month earlier, setting an all-time high for a single month. Taiwan Semiconductor Manufacturing Co Ltd's total revenue in the first quarter of this year was NT $362.41 billion, an increase of 16.7% over the same period last year and 0.2% month-on-month, reaching an all-time high for three consecutive quarters.

• JD.com affiliated company set up a new logistics and transportation company with a registered capital of 50 million

According to App, April 7,$JD.com (JD.US) $Logistics Transportation Co., Ltd. was established, the legal representative is Shen Zhongzheng, the registered capital is 50 million yuan, the business scope includes road cargo transport, general cargo warehousing services, domestic cargo transport agents, loading and unloading handling, NVOCC business and so on. Shareholder information shows that the company is 100% controlled by JD Logistics, Inc. supply chain Co., Ltd.

• Reuters: DiDi Global Inc. plans to list in the United States and plans to submit listing documents secretly this month

DiDi Global Inc. chose Goldman Sachs Group and Morgan Stanley to be responsible for their IPO trip to the United States, and plans to submit listing documents secretly this month. So far, all three have declined to comment. DiDi Global Inc. hopes to list as early as July with the support of Asian technology investment giants Softbank Corp., BABA and Tencent, according to people familiar with the matter. According to the latest report last month, its initial public offering (IPO) was valued at at least $100 billion, at which DiDi Global Inc. could raise about $10 billion by selling a 10 per cent stake, the largest Chinese IPO since BABA's $25 billion IPO in 2014.

• Sohu.com Ltd rose nearly 19% before the market, and the news said that Tencent's privatization of Sogou would be approved.

China's antitrust regulator is ready to approve Tencent's deal to privatize Sogou, according to Reuters, citing people familiar with the matter. According to the source, China's State Market Regulatory Administration has no objection to Tencent's acquisition of his 60 per cent stake in Sogou for $3.5 billion, but only if Tencent is willing to set up a special mechanism to remedy it to ensure data security and personal information protection.

As of the press release$Sohu.com Ltd (SOHU.US) $It rose 12.74% to $18.76 in pre-market trading.

• Credit Suisse: upgrade to outperform the market rating, with a target price of $140

Credit Suisse issued a report saying that it will$Bilibili Inc. (BILI.US) $The investment rating of US stocks rose from neutral to outperform the market, lowering its target price from $150 to $140. The bank pointed out that in the face of fierce competition, Bilibili Inc. 's user growth is still the fastest in the industry. The current penetration rate of Z-generation users is less than 50%, and there is room for improvement in the future. At the same time, the company has plans to launch more different types of content, which is expected to enhance user loyalty, coupled with the growth of advertising business and the potential to be included in the index, so it is optimistic about the long-term development prospects.

• Traveloka is understood to be negotiating a listing through Richard Li's SPAC.

According to people familiar with the matter, Indonesia's Traveloka is engaged in in-depth negotiations on the issue of a public listing through a merger with Bridgetown Holdings Ltd. The latter is a SPAC supported by Richard Li and Peter Thiel. The deal could value the Southeast Asian company at about $5 billion, according to people familiar with the matter, who spoke on condition of anonymity because the matter was not made public. Potential deals could also involve raising $500m-$750 million through public equity private investment (PIPE). Details, including the size of the financing, are likely to change as companies begin to negotiate with potential investors. Representatives of Bridgetown and Traveloka declined to comment.