Market Overview

The "American Family Plan" that Biden will unveil in his speech to a joint session of Congress on Wednesday night includes about $1,000bn in investment and $800 billion in tax cuts for American families and workers. it covers areas such as education, childcare, paid leave and sick leave; it is partly funded by $1.5 trillion in tax increases on the wealthiest Americans.

The Fed's economic assessment released on Wednesday strengthened and signalled that risk had fallen, while keeping policy interest rates near zero and keeping the rate of asset purchases at $120 billion a month unchanged until "substantial further progress" is made in employment and inflation targets.

Powell said it was appropriate for interest rates to be close to zero before achieving the dual goals of economic growth and maximum employment. The temporary rise in inflation this year does not meet the criteria for raising interest rates.

As of press time, the three major stock index futures rose before trading, with Dow futures up 0.44%, Nasdaq futures up 0.93% and S & P 500 index futures up 0.68%.

China listed stock

• Most of the hot Chinese stocks rose before the session, with whom to learn more than 3%, and Yatsen up more than 2%.

Before Thursday, US stocks rose more than 3%, Yatsen rose more than 2%, HUYA Inc., NIO Inc., EHang Holdings Limited, XPeng Inc. rose more than 1%, Pinduoduo, BABA, Li Auto Inc., Bilibili followed.

On the face of the news, Hefei Xinqiao Intelligent Electric vehicle Industrial Park began construction today, positioning the world-class intelligent electric vehicle industry cluster. Li Bin, founder and chairman of NIO Inc. Automobile, said on the spot that the initial investment of the park is 50 billion yuan, the planned vehicle production capacity is 1 million vehicles per year, the battery capacity is 100GWh/, and the total annual output value is expected to reach 500 billion yuan.

Yesterday, E-House issued an announcement announcing the acquisition of BABA's 85 per cent stake in Tmall good Housing Company. At the same time, BABA and Zhou Xin increased their holdings in E-House shares, and Yunfeng Fund bought shares in E-House. After the completion of the transaction, Tmall good Housing Company will become a wholly-owned subsidiary of E-House, while BABA will become the second largest shareholder.

According to CSB, it was learned from people close to the trading party that Bilibili Inc. did participate in the bid for control of the tourist network earlier, but has now withdrawn from the acquisition.

Active US stocks before the day

• Apple Inc rose nearly 3% before trading, and revenue in the second quarter increased by 54% compared with the same period last year.

Apple Inc released his results for the second quarter of fiscal 2021, which ended March 31, 2021, after US stocks opened on Wednesday. The financial report shows that:

The company's second-quarter revenue rose 54 per cent year-on-year to $89.584 billion. Of this total, product revenue was $72.683 billion and service revenue was $16.901 billion, surpassing the all-time high of $15.8 billion reached in the first quarter.

Before Thursday's trading, Apple Inc rose 2.97% to $137.55.

• Facebook Inc rose 7% before trading, and his target price was raised to $400 by Credit Suisse.

Credit Suisse raised its target price for Facebook Inc to $400 from $371. After the US stock market opened on Wednesday, Facebook Inc released his first-quarter 2021 results. The data show that:

Facebook Inc's revenue in the first quarter was $26.17 billion, up 48% from the same period last year, including advertising revenue of $25.44 billion, up 46% from the same period last year, and other revenue of $732 million, up 146% from the same period last year. Operating profit was 43%, up 33% from the same period last year; net profit was $9.5 billion, up 94% from the same period last year; diluted earnings per share were $3.30, compared with $1.71 for the same period last year.

Before Thursday's trading, Facebook rose 7% to $329.59.

• Nokia rose nearly 16% before trading. Q1's performance far exceeded expectations.

Today, Nokia rose 15.95% to $4.87 in pre-market trading. The company announced today that first-quarter net sales reached 5.076 billion euros, up 3% from a year earlier; operating profit was 431 million euros, compared with a loss of 76 million euros in the same period last year; first-quarter results far exceeded market expectations.