On May 10th, the three major US stock indexes closed with mixed gains and losses, with the Dow Jones up 0.32% and recording eight consecutive daily gains, with a cumulative increase of 2.16% this week; The S&P 500 index rose 0.16%, with a cumulative increase of 1.85% this week; The Nasdaq fell 0.03%, with a cumulative increase of 1.14% this week. Among them, the Dow Jones Industrial Average rose for 4 consecutive weeks, while the S&P 500 and Nasdaq both rose for 3 consecutive weeks. Most large technology stocks fell, with Tesla falling more than 2%, Amazon falling more than 1%, and Intel, Apple, Netflix, and Google falling slightly; Nvidia rose over 1%, while Microsoft and Meta saw a slight increase. Novartis rose nearly 99%, marking its largest daily increase since its US IPO.
Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 0.58% and a cumulative decline of 1.93% this week. Xiaopeng Automobile fell more than 5%, NIO fell more than 4%, Ideal Automobile fell more than 2%, Baidu and Futu Holdings fell more than 1%, while iQiyi, JD.com, Weibo, Tencent Music, and Pinduoduo slightly declined. Alibaba, Vipshop, Bilibili, Manbang, and NetEase saw slight increases.
Global News
Biden is rumored to announce new tariffs on electric vehicles and other vehicles in China as soon as next week. China: The US adds the wrong
Reuters reported on May 9th local time, citing two sources familiar with the situation, that US President Biden will announce new tariffs on China's strategic sectors, including electric vehicles, as soon as next week. One of the insiders said that specific areas will also include semiconductor and solar energy equipment. At the regular press conference of the Chinese Ministry of Foreign Affairs held on May 10th, Foreign Ministry spokesperson Lin Jian responded to a question from foreign media reporters about the Ministry's response to this. He said that for specific information, please inquire with the competent authorities.
What happened? The surge in initial jobless claims in the United States and the expectation of interest rate cuts continue to "return"
Although from a financial calendar perspective, this week can be considered a "desert period" for US economic data - with almost no important frontline economic indicators released, unexpected events always occur in financial markets. What few people may have anticipated is that the most common weekly US initial application data can also create a new wave in the global market overnight.
Federal Reserve Voting Committee: Increased uncertainty about inflation outlook should be patiently waited for now
On Thursday, May 9th local time, San Francisco Federal Reserve Chairman Daley stated that due to increased uncertainty about the inflation outlook, it is difficult to make policy predictions until the Federal Reserve receives more clear information, so she tends to wait. Daley said at an event at the Mercatus Center at George Mason University on Thursday, "(quelling) inflation will be a bumpy process. It is still uncertain what inflation will look like in the coming months, and our response is not to make more predictions."
Even if the Federal Reserve doesn't move, Asian central banks dare not! Is the "big pie" falling towards Europe, which was the first to lower interest rates?
If we compare the current changes in global central bank monetary policy to a game of "one, two, three wooden people", it is obvious that the Federal Reserve, which is hesitant about the direction of inflation, and the Asian central banks, which are equally hesitant to move after seeing the Fed remain stationary, may stay in place for a longer period of time. Several European central banks that have already taken or intend to take action may be getting closer to the finish line.
The Red Sea suddenly saw a surge in the overall consolidation index! There are three factors driving behind it
This surge is mainly driven by three factors, among which the warming geopolitical situation is the main reason for the continuous rise of the main contracts of the European line futures of the consolidation index; Secondly, spot prices have been rising all the way, and major shipping companies are gradually raising their freight rates in the second round in May; Thirdly, the demand side continues to recover, and international trade demand is improving. Whether it is the growth rate of retail sales in the United States or the PMI trend of manufacturing in major emerging countries, they are all in an upward stage, supporting the rise of the main European futures contracts of the consolidation index.
A report exposes the heavy burden on American lives: consumer downgrading is becoming increasingly prevalent, with buy before pay
On Thursday Eastern Time, marketing data analytics platform Adobe Analytics released a report stating that online retail sales in the United States increased by approximately 7% from January to April this year. Despite the continuous growth of online retail in the United States, more consumers are inclined to use "buy before pay" (BNPL) platforms for payment, while the demand for affordable alternatives among consumers is increasing. This indicates that against the backdrop of sustained high inflation in the United States, consumers are still under heavy expenditure pressure.
Company News
Scare the fruit fans! What happened to Apple's rare apology?
Recently, a "horror" advertisement from Apple directly scared "Apple fans". On May 7th, Apple released an advertisement for the iPad Pro, which showed an industrial press crushing items such as televisions, musical instruments, books, and compressing them into images of the new iPad Pro. This one minute long advertisement is called "Crush!". Roughly speaking, the things that were crushed by apples include trumpet, paint bucket, guitar, piano, phonograph, statue, drum stand, as well as cameras, arcade games, monitors, plastic dolls, etc.
Heartbroken and disheartened! Tesla Product Launch Manager Resigns and Criticizes Musk's layoff decision
Rich Otto, the Product Launch Manager at Tesla, has announced his departure from Tesla after nearly seven years of service. In a public statement, this veteran Tesla employee who failed to break free from the fate of the "seven-year itch" clearly has a lot of resentment towards Musk's announcement of a major layoff earlier this year.
Trillion dollar giant announces: global delisting! Admitted that some people may experience permanent brain damage after vaccination, which may cause rare side effects
On May 8 local time, AstraZeneca, a British pharmaceutical company, announced that the company had begun to remove the COVID-19 vaccine globally. The reasons given by the company are "commercial reasons" and vaccine surplus. The COVID-19 vaccine, named Vaxzevria, is one of the main Covid-19 vaccines in the world. Since January 2021, it has supplied more than 3 billion doses, which once brought huge profits to AstraZeneca.
It's another Boeing accident in two days! Rushing off the runway, landing gear blowout! 11 people were injured on one of the passenger planes
According to the official Weibo account of CCTV International News, in the early hours of today (May 9th) local time, a Boeing 737-300 aircraft crashed off the runway during takeoff at the airport in Dakar, the capital of Senegal, and was severely damaged. From the video taken by the passengers on board after evacuating through the emergency escape ladder, as well as the photos taken at the scene after the incident, it can be seen that the engine on one side of the plane caught fire. There were a total of 85 people on board, including 79 passengers and 6 crew members, of which 11 were injured and many were seriously injured.
Goldman Sachs: This sector is expected to become the next winner in the "AI boom", with four stocks being the main recommendations!
Goldman Sachs stated in its latest report that the most "boring" areas of the US stock market are being awakened by the wave of artificial intelligence (AI), and investors should pay attention now. The bank emphasizes that utility stocks are a major beneficiary of the AI boom, as the demand for electricity in data centers with a focus on artificial intelligence is soaring. "Although investors' interest in the theme of the artificial intelligence revolution is not new, we believe that downstream investment opportunities in utilities, renewable energy generation, and industrial sectors have been underestimated, and investments and products in these industries will need to support this growth," the bank wrote.