global macro

• U.S. GDP unexpectedly fell in the first quarter, and the three major U.S. stock index futures collectively rose before the market

The initial value of the annualized quarterly rate of real GDP in the first quarter of the United States unexpectedly recorded -1.4%, the first negative value since the second quarter of 2020. As of press time, the three major U.S. stock index futures rose collectively, the Nasdaq futures rose 1.84%, the S&P 500 futures rose 1.36%, and the Dow futures rose 0.78%.

In addition, the market focused on the after-hours earnings reports of Apple and Amazon.

• Shipping giants: global supply chain bottlenecks show signs of easing

Due to the global epidemic and geopolitical conflicts, the shipping market has been sluggish in recent years, and port congestion has prevented the normal delivery of cargo ships, which has pushed up freight rates. However, Zheng Zhenmao, chairman of the shipping industry giant and Taiwan Yang Ming Shipping, said on Tuesday that global supply chain bottlenecks may show signs of easing and will start to improve from the second half of this year, Bloomberg reported. Zheng pointed out that the number of ships waiting outside the ports of Los Angeles and Long Beach has plummeted to less than 40 from more than 100 earlier this year.

• Global bonds head for their worst monthly performance on record, with a string of rate hikes likely next week

Global bonds headed for their worst monthly performance on record as investors braced for a spate of rate hikes in the coming week, including the most aggressive U.S. tightening since May 2000. The analyst firm’s Global Composite Total Return Index has fallen 4.9% in April, on track for its biggest monthly decline since compilation began in 1990.

• Oil supply adds another light! Three U.S. shale producers increase production or omen for the industry

Continental Energy, Hess and Matador Resources have hinted at plans to boost production in U.S. shale basins. That could be a harbinger of what’s to come as major oil companies prepare to report earnings later this week. Individually, the increase in production is small, but if dozens of other U.S. public and private operators follow suit, it could be a sign that U.S. shale players are stepping up efforts to alleviate global crude supply shortages and seize Oil at $100 a barrel.

hot news

• Meta Platforms soared more than 14% before the market, and achieved a net profit of US$7.465 billion in Q1, exceeding expectations

$Meta Platforms (FB.US)$ Q1 achieved a net profit of $7.465 billion exceeding expectations, and DAU increased by 4% year-on-year to 1.96 billion. Morgan Stanley raised its price target to $330 from $325. As of press time, Meta Platforms rose more than 14% before the market.

• Qualcomm rose more than 6% before the market, revenue and earnings per share both exceeded expectations

$Qualcomm (QCOM.US)$ released a strong second-quarter performance report, the financial report shows that Qualcomm’s second-quarter adjusted revenue was $11.16 billion, higher than the expected $10.6 billion, an increase of 41% year-on-year; adjusted Post-earnings per share of $3.21 also beat expectations of $2.91 and increased 69% year over year. In terms of performance guidance, Qualcomm said it expects earnings per share in the fiscal third quarter to be between $2.75 and $2.95 on revenue of about $10.9 billion. The company’s forecast beat Wall Street’s revenue guidance of $9.98 billion.

• Twitter’s first-quarter revenue was $1.20 billion, advertising revenue was $1.11 billion

$Twitter (TWTR.US)$ first-quarter revenue of $1.20 billion, compared with market estimates of $1.23 billion. The profit in the first quarter was US$513 million, a year-on-year increase of 654.78%. Advertising revenue in the first quarter was $1.11 billion, compared with an estimate of $1.12 billion. As of press time, Twitter was up more than 1% in premarket trading.

• Ford’s first-quarter revenue was $34.5 billion, down 4.7% year over year

$Ford Motors (F.US)$ on April 28 announced its first-quarter 2022 results. According to the financial report data, Ford Motor’s revenue in the first quarter of this year was 34.5 billion US dollars, a year-on-year decrease of 4.7%. Auto segment revenue of $32.1 billion beat market expectations. As of press time, Ford Motor was up more than 1% in premarket trading.

• The health care stock Teladoc, which is heavily owned by Sister Mutou, fell more than 44% before the market, and its first-quarter financial report was significantly lower than expected

Before the U.S. stock market opened on Thursday, “Sister Wood” Cathie Wood’s heavily-held healthcare stock $Teladoc Health (TDOC.US)$ fell 44%. Earlier, Teladoc’s first-quarter financial report showed that its revenue for the quarter was US$560 million, a year-on-year increase of 25%, which was less than expected. The loss per share in the quarter was US$41.58, far exceeding the market’s expected loss of US$0.56 per share. It is worth mentioning that Teladoc is one of the top ten holdings of Mutoujie’s flagship fund $ARK Innovation ETF (ARKK.US)$ .

• FCC commissioner rejects request to block Musk’s takeover of Twitter

According to the FCC’s official website, the Open Markets Institute, an antitrust advocacy group, issued a press release yesterday calling on the FCC, FTC and the Department of Justice to block Elon Musk’s acquisition of $ Twitter (TWTR.US) $ trade. They called the deal a “direct threat to American democracy and free speech.” FCC Commissioner Brendan Carr responded with the following statement: “The FCC has no authority to block Elon Musk’s acquisition of Twitter, otherwise it would be absurd to suggest otherwise. I welcome the FCC’s clear statement that we will not accept such frivolous arguments.”

• Elon Musk: Next I’m going to buy Coca-Cola and put cocaine back in

After the social networking site Twitter announced on April 25 that it had reached an acquisition agreement with $ Tesla (TSLA.US) $ CEO Musk, Musk suspected on Twitter on the 28th to lock a “new target” – acquisition US consumer goods giant $ Coca-Cola (KO.US) $ . At 8:56 on the 28th, Beijing time, Musk tweeted, “Next I will buy Coca-Cola and add cocaine back in.

• Musk and Trump battle each other over the air, and Twitter’s rival Truth Social pours into a large number of users

On Wednesday, Eastern Time, Musk tweeted that Twitter’s competing product, Truth Social, became the number one app on the free app list in the U.S. Apple App Market that day, surpassing its rivals Twitter and Douyin. According to Apptopia estimates, Truth Social’s downloads jumped to more than 55,000 on Tuesday, up from less than 6,000 a week earlier, and its active users reached 365,000, a 20 percent increase from last week. This immediately triggered a rise in Truth Social affiliate $Digital World Acquisition Corp (DWAC.US) $ , and U.S. stocks closed up 9% on Wednesday. As of press time, DWAC rose more than 5% before the market.

• Jefferies: Cut Google A price target to $3,400 from $3,600, maintain buy rating

Jefferies analyst Brent Thill lowered his price target on $Google-A (GOOGL.US) to $ 3,400 from $3,600 and maintained a buy rating after the company released its first-quarter earnings, saying “FY22 Looks very different from FY21.” Core search and cloud delivered “healthy growth,” but Thill told investors that YouTube ad revenue missed expectations for the third straight quarter as the company faced a slump that continued into the second quarter. Multiple disadvantages. Thill noted that following last night’s report, he lowered his forecasts for FY22 gross revenue, net income, operating margin and EPS.

Focus on Chinese concept stocks

• Most of the popular Chinese concept stocks rose before the market

• Beijing is the first to release the unmanned license for autonomous driving, and Baidu is the first batch to be approved

On April 28, Beijing issued a notice of unmanned manned demonstration application, and Baidu (BIDU.US)$ became the first approved company. Its autonomous driving travel service platform Radish Kuaipao officially launched the unmanned autonomous driving travel service. . This means that the autonomous driving service with “no one behind the wheel” has been released for the first time in China’s megacities. According to the relevant regulations of the Beijing Intelligent Connected Vehicle Policy, the demonstration application subject who has obtained the notice can conduct unmanned autonomous driving and manned demonstration applications on open roads within a 60-square-kilometer area of ​​the Beijing High-level Autonomous Driving Demonstration Zone.

• JinkoSolar: Net profit in the first quarter increased by 66.39% year-on-year

$ JinkoSolar (JKS.US) $ disclosed the first quarterly report, the operating income in the first quarter was 14.681 billion yuan, a year-on-year increase of 86.42%; the net profit was 401 million yuan, a year-on-year increase of 66.39%; the basic earnings per share was 0.04 yuan.

Top 20 U.S. stocks by pre-market turnover

US macro case reminder

20:30 Initial value of the annualized quarterly rate of real GDP in the first quarter of the United States

20:30 Initial jobless claims for the week ended April 23

20:30 The initial value of the annualized quarterly rate of the core PCE price index in the first quarter of the United States

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