hot news

• Mester voted against raising interest rates by 75 basis points, saying that monetary policy should be tightened in an orderly manner

On Friday, Cleveland Fed President Mester said he opposed a one-time 75 basis point rate hike, favoring caution in tightening monetary policy. She also said she was in favor of raising rates by 50 basis points in May, followed by “a few more” in order to raise the policy rate to around 2.5% by the end of the year. Mester has FOMC voting rights this year.

• Over 70% of U.S. stock companies’ Q1 profits exceeded expectations! Consumer discretionary stocks top performers, boosted by Tesla

As of April 22, 99 companies in the S&P 500 had released their first-quarter results, according to a Refinitiv report. 77.9% of the companies’ profits exceeded market expectations, and the average profit exceeded expectations by 7.7%; among them, 69.7% of the companies’ total revenue exceeded market expectations, and the average total revenue exceeded expectations by 1.4%. Consumer discretionary profits beat estimates by an average of 14%.

• Fannie Mae: Recession may be inevitable, but real estate will be the savior

Mortgage giant Fannie Mae acknowledged that a soft landing for the U.S. economy is questionable, but the housing market could help the U.S. economy see only a “moderate recession” in 2023. Fannie Mae said consumer demand for new homes will outstrip supply in the future, which will fuel U.S. home prices and stimulate economic growth through 2023.

• German asset management giant warns that the escalation of the Russian-Ukrainian war is the biggest risk to the stock market

The U.S. investment director of German asset management giant DWS Group believes that stock market investors are now most worried about the highest U.S. inflation rate in 40 years and a possible recession, but the risk of an escalation of the Russia-Ukraine war should be their biggest concern. The DWS is watching the war as an escalation could send oil prices soaring again and ultimately lead to a recession. If there is any recession, “we think it will come from Europe,” DWS said. The euro zone is under pressure from rising energy prices, as the region relies heavily on Russia for oil and other natural resources.

• See you at the end of the year $2500! Goldman Sachs bullish on gold: Prices must rise

Goldman Sachs recently released a report saying that due to the simultaneous strengthening of investment, consumer retail and central bank gold purchase demand, they raised their gold price target at the end of the year to $2,500 per ounce, and pointed out that if the gold price surges, the balance of the spot market is also expected to be achieved. Goldman Sachs pointed out that like other commodities, gold is a physical asset, so physical demand must be balanced with physical supply. When gold investment demand is strong, the price of gold has to rise in order to delay consumer retail sales and make room for investors.

• JPMorgan: The status of U.S. dollar reserves is declining, and the world is moving closer to “diversification of foreign reserves”

The dollar’s share of global foreign exchange reserves has fallen to its lowest level on record, and the decline has accelerated recently, analysts at JPMorgan said. In the fourth quarter of 2021, the allocation share of the U.S. dollar fell below 59%. That’s down from nearly 62 percent in early 2020 and 65 percent in 2015. The decline in the dollar’s share is even more pronounced when the value of the currency is taken into account, although the recent strength of the dollar has masked a sharp decline in the dollar’s foreign exchange reserve status.

• French President Emmanuel Macron wins election

At 20:00 local time on April 24, the second round of voting in the French presidential election ended. The earliest exit polls published by French media showed that the incumbent president and candidate of the Progressive Party of the Republic, Macron, won the election with 58.2% of the vote. Macron became the first French president to be re-elected after Chirac.

• European Commission: Complete abandonment of Russian gas will cause serious energy crisis in some member states

European Commission Vice President Julova said that the complete abandonment of Russian gas will lead to a serious energy crisis in some member states. She said that the EU is currently studying the sixth round of sanctions against Russia, but it should understand the willingness of member states to cooperate before imposing sanctions. According to the website of the European Commission, the EU relies on Russia for 45% of its natural gas imports. The European Commission also said that EU companies may be able to comply with Russia’s proposed gas payment system without violating sanctions against Russia.

US stocks resume trading

• On Friday, the three major U.S. stock indexes all fell nearly 3%

The Dow fell 2.82%, its biggest one-day drop since the end of October 2020, the Nasdaq fell 2.55%, and the S&P 500 fell 2.77%.

Large technology stocks all fell, Apple fell 2.78%, Amazon fell 2.66%, Meta fell 2.11%, Google fell 4.15%, Microsoft fell 2.41%, Netflix fell 1.24%, and Tesla, which closed up more than 3% on Thursday, closed down Nearly 0.4%.

Popular Chinese concept stocks were mixed, with JD.com up 2.64%, iQiyi up 1.56%, Alibaba up 0.58%, Bilibili up 0.38%, NetEase up 0.19%, Pinduoduo down 0.06%, and Baidu down 1.21% , Tencent Music fell 1.92%, Zhihu fell 6.63%.

• EU agrees on new digital regulations that will require tech giants to be more aggressive in tackling illegal content

The European Parliament and EU member states agreed on Saturday on new digital regulations, the Digital Services Act (DSA), which will require $Google-A(GOOGL.US)$ / $Google-C(GOOG.US)$ and $Meta Tech giants such as Platforms (FB.US) $ are more aggressive in regulating illegal content on their platforms, and companies that break the rules could face billions of dollars in fines. Under the new rules, e-commerce marketplaces such as Amazon (AMZN.US)$ must also stop the sale of illegal goods.

• Twitter faces shareholder pressure, or seeks deal with Musk

It is reported that $Twitter (TWTR.US)$ is facing shareholder pressure and may be more inclined to accept Musk’s takeover offer after $Tesla (TSLA.US)$ CEO Elon Musk disclosed that he has received $46.5 billion in financing. Twitter executives are now reviewing the bid and are more likely than before to try to negotiate, with the two sides meeting on Sunday to discuss Musk’s $43 billion proposal, according to people familiar with the matter. Markets had expected the social media company to reject the proposal and use a “poison pill” to fend off a potential hostile takeover.

• Netflix’s explosive performance affects industry prospects, analyst: streaming media industry “dark clouds”

$Netflix (NFLX.US) lost 200,000 subscribers in the first quarter of 2022 and expects to lose another 2 million in the next few months, the company’s stock price plunged 35% after the Q1 earnings report, and other streaming stocks were also affected. In response to the blow, Amazon Prime, Hulu and NBCUniversal’s streaming media Peacock will also be affected by the loss of users. Several analysts said the streaming market in Europe and the United States has become too saturated for companies in the industry to continue their high-speed growth trajectories, while fierce competition among companies suggests that the performance of the industry as a whole may be worse.

• Foray into social commerce in India, Amazon acquires startup GlowRoad

Amazon is now exploring social commerce in India with an all-cash acquisition of social commerce startup GlowRoad, according to people familiar with the matter, a company spokesman confirmed the acquisition. GlowRoad sells products to customers at wholesale prices and helps customers resell on Facebook and WhatsApp, and it also provides them with a logistics network and collection features.

• Apple: 550,000 tons of ore saved by no longer charging plugs for iPhones

$Apple (AAPL.US)$ recently said that it is estimated that 550,000 tons of copper, tin and zinc ore have been mined less since the iPhone 12 package no longer comes with a charging plug. It is reported that the power adapter requires a large amount of materials such as plastic, copper, tin and zinc, and the cancellation of the power adapter has helped Apple avoid more than 2 million tons of carbon emissions. Analysts also say that this approach has saved the company at least 5 billion pounds in total, including not only the cost of reduced charging plugs, but also reduced transport costs and an additional 225 million pounds from accessories sales.

Top 20 U.S. stocks by turnover last Friday

Hong Kong City Prospects

• Beishui added to Meituan for the 14th consecutive day, and bought nearly HK$1 billion again last Friday

On April 22 (Friday), the net purchase of southbound funds was HK$3.284 billion. Meituan-W, Tencent Holdings, and Anta Sports received net purchases of HK$971 million, HK$674 million, and HK$243 million, respectively. In terms of net sales, Xiaomi Group-W, China Construction Bank, and Industrial and Commercial Bank of China had net sales of HK$142 million, HK$137 million, and HK$68 million, respectively.

• Shanghai Stock Exchange: Lithium Auto, Huaxin Cement and Rongchang Biotechnology are added to the list of Southbound stocks, effective today

The Shanghai Stock Exchange announced that according to the relevant regulations of the “Shanghai Stock Exchange’s Shanghai-Hong Kong Stock Connect Business Implementation Measures”, the list of Hong Kong stocks under Shanghai-Hong Kong Stock Connect will be transferred to $Ideal Auto-W(02015.HK)$ and $Huaxin Cement (06655.HK) $ and $Rongchang Bio-B(09995.HK)$ and will take effect today (April 25).

• China Merchants Bank: Q1 net profit increased by 12.52% year-on-year to 36 billion yuan

China Merchants Bank (03968.HK)$ released its 2022 first quarter report. During the reporting period, revenue was 91.99 billion yuan, up 8.54% year-on-year; net profit was 36.022 billion yuan, up 12.52% year-on-year.

• BYD shares: plans to repurchase shares with 1.8 billion to 1.85 billion yuan for employee stock ownership

$BYD (01211.HK)$ announced that the company plans to repurchase all A shares for the employee stock ownership plan. The purchase price does not exceed 300 yuan per share. The total number of people participating in the employee stock ownership plan shall not exceed 12,000. The employee stock ownership plan will transfer the company’s shares to be repurchased by the company through non-transactional transfer and other methods permitted by laws and regulations. The transfer price is 0 yuan per share, and participants do not need to make capital contributions.

Follow today

Keywords: US April Dallas Fed Business Activity Index; Coca-Cola, Activision Blizzard Earnings

On Monday, in terms of economic data , the US April Dallas Fed business activity index will be released.

In terms of financial reports , $ Coca-Cola (KO.US) $ and $ Activision Blizzard (ATVI.US) $ will announce their results one after another.

In terms of new shares, the gold exploration company $Austin Gold Corp (AUST.US) $ will be listed. The company plans to issue 3.3 million shares at a price of $4 in the IPO, and is expected to raise about $13.2 million.

Niu Niu Chen read:

The first rule of investing is to never lose money, and the second rule is to remember the first rule.

– Buffett

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