Niuniu knocked on the blackboard:

1. Powell Congressional hearing: significantly rising inflation will fall, and there is still a long way to go before the Fed changes its policy.

2. The management scale of Blackrock Q2, the first brother of global asset management, soared to 9.5 trillion US dollars, announcing a collective salary increase for grass-roots employees.

3. Former US Treasury Secretary Mnuchin: the Federal Reserve should immediately reduce the size of its asset purchase program.

Bezos will make history again next week: to achieve the first self-driving all-civilian flying.

5. JPMorgan Chase & Co: raise Apple Inc's target price to include the list of analysts' attention.

6. The Financial Secretary of Hong Kong revealed that the southbound Bond Link is "just around the corner".

Ganfeng Lithium substantially revised performance forecast: net profit increased by 730.75% in the first half of the year.

8. MRNA COVID-19 vaccine "Fubitai" has passed the professional review and is expected to become a domestic strengthening needle.

Hot news

• Powell Congressional hearing: significantly rising inflation will fall, and there is still a long way to go before the Fed changes its policy.

Federal Reserve Chairman Powell attended the semi-annual hearing of the House of Representatives Financial Services Committee at 12:00 EDT on Wednesday, July 14. To reiterate that the recent surge in inflation is only a temporary phenomenon and that there is still a long way to go before the Fed tightens its ultra-loose monetary policy. He also warned that the Fed is prepared to take appropriate action if Americans' inflation expectations rise substantially and persistently.

In the face of higher inflation，While warning that "do not mistakenly react prematurely" that highly loose monetary policy is still appropriate, Powell does not deny that the Fed has the determination to curb persistent ultra-high inflation:

The US (June) inflation figures were higher than the Fed expected and higher than the Fed expected. If inflation or public expectations of inflation are substantial and continue to exceed our targets, or if prices rise without foundation, the Fed may adjust its policy. "

• Former US Treasury Secretary Mnuchin: the Federal Reserve should immediately reduce the size of its asset purchase program

Former US Treasury Secretary Mnuchin said in an exclusive interview with CNBC on July 14 that the Fed should immediately reduce the size of its asset purchase program. He believes that current inflation is "more likely to be substantial inflation" and that the Fed must beware of runaway inflation. He also pointed out that the Fed should be "one step ahead" rather than being forced to raise interest rates to 4% or 5%.

• Inflation in the United States has exploded, but why are cars the culprit?

In recent months, the soaring price of used cars has been an important driver of the rise in CPI in the United States. The shortage of new cars caused by "lack of core" is the main reason for the popularity of the used car market.

Data show that the US index of used cars and trucks rose 10.5 per cent in June, the third month in a row and the biggest monthly increase in the index's history.Long. Used cars contributed as much as 1/3 of June's CPI gains.

• SEMI:2022 annual global semiconductor sales of more than 100 billion US dollars, will reach an all-time high

According to a recent report released by the International Semiconductor Industry Association (SEMI), the global semiconductor manufacturing equipment market will grow by 34% to US $95.3 billion in 2021, and is expected to reach a new high and break through the US $100 billion mark in 2022.

The three major indexes of u.s. stocks closed mixed, with the s & p 500 up 0.12%, the Dow up 0.13% and the Nasdaq down 0.22%. Most of the US technology leaders rose, with Apple Inc up 2.41%, setting a new closing high above $149. new energy automobile stocks fell generally, Tesla, Inc. fell more than 2%, Tucson Future and Li Auto Inc. fell more than 6%, XPeng Inc. fell 3.62%. NIO Inc. Motor fell more than 4%.

• The management scale of Blackrock Q2, the number one global asset manager, soared to US $9.5 trillion, announcing a collective salary increase for grass-roots employees.

On Wednesday, local time, the world's largest asset management$Blackrock (BLK.US) $The second quarterly report was released, in which the amount of assets under management reached an astonishing $9.5 trillion. In the context of the bull market effect pushing up the scale of management, revenue also grew at the same time. Blackrock Q2 achieved revenue of $4.82 billion, up 32% from the same period last year; net profit was $1.549 billion, and the adjusted EPS $10.03 also exceeded the average analyst expectation of $9.46.

• Invest more than 10 billion yuan in a month! Blackstone Group Inc made another big bet on the US housing market, the last time after the financial crisis.

$Blackstone Group Inc (BX.US) $The US comfortable housing project of AIG will be acquired for about US $5.1 billion. Last month, Blackstone Group Inc bought Home Partners of America for $6 billion and a controlling stake in SOHO in China for $3 billion. These deals show that Blackstone Group Inc is once again entering the real estate market on a large scale.

• It is said that BABA and Tencent are considering gradually opening up their services to each other.
  

The two companies are currently working on separate plans to ease restrictions.$BABA-SW (09988.HK) $Mobile payment services developed by UnionPay will be added to its e-commerce website. The initial steps taken by BABA may include the introduction of its e-commerce platform, Taobao and Tmall.$Tencent (00700.HK) $WeChat Pay function.

• Bezos will make history again next week: to achieve the first self-driving all-civilian flying

Jeff Bezos is expected to make history next week when he will participate in the world's first unmanned suborbital mission made up of all-civilian members. The New Shepard, which is 60 feet tall, is a combination of a fully autopilot rocket and a spaceship and cannot be piloted from inside the ship, according to people familiar with the matter. The flight crew will include only civilians, without any blue origin employees or professional astronauts. Marco Caceres, an aerospace industry analyst at Teal Group, an aviation analyst, said there had never been a fully autopilot suborbital or orbital flight carrying all civilian members. Bezos and three other members will board the New Shepard on July 20 for an 11-minute space trip to the edge of space. This will set another milestone for the space tourism industry, which is in its infancy and has broad potential profit prospects.

• Netflix plans to provide video games to expand beyond film and television.

$Netflix Inc (NFLX.US) $It is planning to expand into video games and has hired a former Electronic Arts and Facebook Inc executive to lead the work. This marks the company's first major move outside television and movies. The company said Wednesday that Mike Verdu will join Netflix as vice president of game development and report to Greg Peters, chief operating officer. Verdu, a former vice president of Facebook Inc, worked with developers to provide games and other content for Oculus virtual reality headsets. According to a person familiar with the matter, the company's idea is to offer video games on the Netflix streaming platform in the coming year. The company has no plans to charge extra for new content at this time, the person said.

• Microsoft Corp will launch cloud version of Windows system

$Microsoft Corp (MSFT.US) $It was announced on Wednesday that the cloud-based Windows 365 operating system will be launched on Aug. 2 this year, and users only need to have a browser that supports HTML 5. In terms of operational experience, just as users buy a new computer, they can choose how much computing power and storage space they need to configure for the virtual system.

• JPMorgan Chase & Co: raise Apple Inc's target price and bring it into the list of analysts' attention.

JPMorgan Chase & Co analyst Samik Chatterjee will$Apple Inc (AAPL.US) $Raised its target price to $175 from $170 and put the stock on the analyst watch list. His rating of Apple Inc has always been "outperform the market". Analysts said the bullish view on the stock was supported by data, including an upward forecast for iPhone 12 by supply chain analysts JPMorgan Chase & Co and Apple Inc, as well as continued strong sales of Mac devices. Analysts believe Apple Inc's share price is "expected to rise", mainly due to higher sales expectations for iPhone 12 and market share in key regions, including China, as well as investor expectations for the upcoming iPhone 13 release. Investor expectations for iPhone 13 remain low, he said.

• GM warns electric car owners: park your car outdoors and do not recharge overnight

$General Motors Co (GM.US) $The Chevrolet Bolt, which announced a recall of nearly 69000 Chevrolet electric cars at risk of fire earlier this year, warned owners of affected vehicles on Wednesday not to park their cars in buildings or recharge them unattended overnight after two recent spontaneous combustion accidents.

A spokesman for General Motors Co said one of the fires broke out earlier this month, when the car was charging at the home of a Vermont congressman, and the other was in New Jersey. GM received the notice earlier this week.

"out of caution, we require owners of recalled 2017-2019 Chevrolet Bolt electric vehicles to park outdoors immediately after charging and not to recharge their cars overnight while we investigate these incidents," the spokesman said. "

The National Highway Traffic Safety Administration (NHTSA) said on Wednesday that the battery packs in the affected vehicles were likely to smoke and ignite spontaneously, and if the vehicle was parked near a garage or house, it could spread to other parts of the vehicle and cause structural fires.

The top 20 stocks traded in the US on Wednesday

The Prospect of Hong Kong City

Southbound Capital sold a net HK $222 million yesterday. Meituan received a net sale of HK $1.25 billion, Weimeng a net sale of HK $250 million, Tencent a net purchase of HK $496 million, Wuxi Biologics a net purchase of HK $374 million, and Sunny Optical Technology a net purchase of HK $312 million.

• Hong Kong Financial Secretary reveals that southbound Bond Link is "just around the corner"

According to the Hong Kong Economic Daily, Hong Kong Financial Secretary Chen Maobo said in an interview that the opening of the southbound Bond Link was "just around the corner." Chen Maobo did not provide further details on the launch date. After the opening of LiCaiTong, it is expected that more funds will go south. Mr Chen said Hong Kong was discussing a similar insurance link with the mainland, but there was no timetable.

• MRNA COVID-19 vaccine "Fubitai" is expected to become a domestic strengthening needle through professional review.

According to the media$Shanghai Fosun Pharmaceutical (02196.HK) $In response to investor inquiries at the shareholders' meeting, it was said that the examination and approval of the mRNA COVID-19 vaccine "Fubitai" by the State Drug Administration had been basically completed, the expert review had been passed, and the administrative examination and approval stage was being stepped up. Shanghai Fosun Pharmaceutical and BioNTech have started production preparations ahead of time, and once the Fubitai vaccine is approved, it can be supplied to China as soon as possible; according to people familiar with the matter, Fubitai is likely to be used as a booster needle and vaccinated free of charge in the future.

• Ganfeng Lithium substantially revised performance forecast: net profit in the first half of the year increased by 730.75% compared with the same period last year.

$Ganfeng Lithium (01772.HK) $According to the performance forecast, the net profit in the first half of the year is expected to be 1.3 billion-1.6 billion yuan, an increase of 730.75%-922.46% over the same period last year, and the previously estimated profit was 800-1.2 billion yuan. The reason for the correction of the performance forecast is that the price of the company's products exceeds expectations and the fair value of the financial assets such as Pilbara held by the company increases.

• Multi-channel funds to increase the position of securities firms H-shares

Since July, five listed brokerages, including CITIC, Central Plains Securities, Huatai, Haitong and China Merchants, have won major shareholders to increase their holdings. At the same time, private equity firms continue to buy. Ningquan assets under management of more than 30 billion yuan have bought at least large amounts of H shares of Citic Construction Investment, Guotai Junan, Oriental Securities and Central Plains Securities since January, according to the Hong Kong Stock Exchange.

Focus today

Keywords: China's second quarter GDP, RRR reduction, American initial request, Powell speech, Taiwan Semiconductor Manufacturing Co Ltd / Morgan Stanley Financial report, Medical Maitong listing

On Thursday, China will release second-quarter GDP figures. Financial stocks in terms of financial reporting$Morgan Stanley (MS.US) $Make an appearance at the finale$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $Results will also be announced on the same day.

Niuniu morning reading:

When you get up every day, try to be smarter than yesterday. Finish your task conscientiously and excellently. slowly, you will make progress, but not necessarily very fast. But you can lay the foundation for rapid progress. Take a step forward slowly every day. In the end-if you live long enough-like most people, you will get what you deserve.

-- Charlie Munger