Most of the large technology stocks rose, Intel rose 4%, Tesla, Advanced Micro Devices (AMD) rose more than 2%, and Amazon fell nearly 4%. The solar energy and gold sectors fell lower, with First Solar falling more than 9%, and Cordelan Mining falling more than 2%. First Republic Bank fell more than 43%, refreshing its closing record low to $3.51.
Popular Chinese concept stocks rose the most, iQiyi, Pinduoduo rose more than 3%, JD.com and Vipshop rose more than 2%, Weibo, Baidu, Bilibili, Tencent Music, Ideal Auto, Futu Holdings rose more than 2% 1%, Netease, Manbang, and Alibaba rose slightly; Xiaopeng Motors fell more than 2%, and Weilai fell more than 1%.
European stock market: The main European stock indexes collectively rose. As of the close, the average price index of 100 stocks in the “Financial Times” of the London stock market closed at 7870.57 points on the 28th, an increase of 38.99 points or 0.50% from the previous trading day; Paris, France The CAC40 index of the stock market closed at 7491.50 points, an increase of 7.66 points or 0.10% from the previous trading day; the DAX index of the Frankfurt stock market in Germany closed at 15922.38 points, an increase of 121.93 points or 0.77% from the previous trading day.
Commodity market: International oil prices rose significantly. As of the close, the price of light crude oil futures for June delivery on the New York Mercantile Exchange rose $2.02 to close at $76.78 a barrel, an increase of 2.70%; London Brent for June delivery Crude oil futures rose $1.17, or 1.49%, to settle at $79.54 a barrel. The international gold price rose slightly. On the 28th, the most active June gold futures price in the New York Mercantile Exchange gold futures market rose 0.1 US dollars from the previous trading day to close at 1999.1 US dollars per ounce, an increase of 0.01%.
The following is a summary of important information on the global market:
overnight news
The Federal Reserve released a report on the failure of Silicon Valley Bank: bank mismanagement, regulatory failure and incompetence
On Friday, Eastern Time, the Federal Reserve issued a detailed and harsh assessment report, arguing that the collapse of Silicon Valley banks was caused by poor management, regulatory failures, and frenzied media, and promised to implement stricter supervision of banks. In an exhaustive investigation into the SVB failure, Federal Reserve Vice Chairman for Supervision Michael Barr said a myriad of factors conspired to bring about the bank’s failure. These include bank executives who made “textbook” mistakes in managing interest rate risk, Fed regulators who failed to understand the depth of SVB’s problems and were slow to respond, and a social media frenzy that could hasten SVB’s demise.
US media: FDIC prepares to take over First Republic Bank
On April 28, local time, according to Reuters, citing sources familiar with the matter, the U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to take over First Republic Bank immediately. Banks Bank: BK0475 2892.06 0.65% + The optional industry regulator has decided the region’s banks are in deteriorating condition and there is no more time to implement a bailout through the private sector, the sources said.
Another big win for artificial intelligence? ChatGPT’s health question and answer results crush human doctors
A newly published study shows that the chatbot ChatGPT can outperform doctors in some ways. The study was published in the internationally renowned medical journal “JAMA Internal Medicine” on Friday (April 28). The results suggest that AI assistants may have the ability to help doctors draft responses to patients’ questions.
IMF: Western Sanctions on Russia Ineffective, European Economy Faces Multiple Challenges
On Friday local time, the International Monetary Fund (IMF) mentioned in its report on the European economic situation that Russia proved to be better than expected in coping with the pressure of external sanctions. At the same time, many European countries are facing the arduous task of economic recession, curbing inflation and maintaining financial stability. The IMF believes that after traditional Western buyers shunned energy trade with Russia, Russia successfully diverted energy exports to Asian markets, weakening the effect of Western sanctions.
ChatGPT Approved to Resume Online Regulatory Disclosure OpenAI Rectification List in Italy
Nearly a month after being ordered offline by Italian data regulators, ChatGPT, a chatbot application from U.S. technology company OpenAI, has resumed service in the country, La Repubblica reported on Friday. As a starting point for this matter, on March 31 local time, the Italian Government Data Protection Agency ordered ChatGPT to go offline and suspended the processing of Italian user data. After that, the department put forward a series of rectification requirements on April 12, limiting OpenAI to complete the rectification within this month. So in fact, today’s restoration is only two days earlier than the final rectification deadline given by the supervision. According to a spokesperson for OpenAI, the company has responded to or clarified a series of questions from the Italian government.
Be careful, extreme joy begets sorrow! The most accurate analyst on Wall Street warns that the rebound in US stocks will come to an abrupt end…
As the US technology giants have announced good financial reports, the S&P 500 Index and the Nasdaq Composite Index recorded a significant rebound after a long absence. However, some analysts believe that the fundamentals of the stock market are still bleak, and the rebound may come to an abrupt end at any time. Bank of America analyst Michael Hartnett, the “big short” of U.S. stocks last year, said that due to the sharp decline in corporate profits and the weakening of the labor force, concerns about a U.S. recession may drive funds to flee the stock market.
God continues to be jealous?ExxonMobil’s Q1 net profit more than doubled year-on-year
The US energy giant Exxon Mobil announced its financial report for the first quarter of 2023. The company’s Q1 profit set a record for the same period, more than doubling from the same period last year. The financial report shows that Exxon Mobil’s Q1 net profit reached US$11.43 billion, or US$2.79 per share, setting a record for the same period in history, an increase of 108.57% from US$5.48 billion in the same period last year. Analysts had expected Exxon’s Q1 profit to be $10.3 billion.
The GDP growth rate of the euro zone has slowed down significantly with the United States, and the “locomotive” German economy has reversed
Similar to the data released by the US yesterday, economic growth in the euro zone has also slowed down. On Friday (April 28), local time, data from Eurostat showed that the initial value of gross domestic product (GDP) in the euro zone in the first quarter rose by 0.1% from the previous quarter, which was lower than the market’s previous expectation of 0.2%. The “flat” figure for the fourth quarter was also revised down to a 0.1% decline. On a year-on-year basis, the initial GDP annual rate of the euro zone in the first quarter recorded 1.3%, which was lower than the expected 1.4%, a slowdown of 0.5 percentage points from 1.8% in the fourth quarter of last year, and refreshed the lowest growth rate since the third quarter of 2021. In terms of countries, Spain’s first-quarter GDP recorded an annual rate of 3.8%, the highest among the countries that have released data, followed by Ireland (2.6%) and Portugal (2.5%). The GDP of the “locomotive” of the euro zone economy shrank year-on-year 0.1%.
Bank of Italy: Risks to Italy’s financial stability have increased
On the 28th local time, the Bank of Italy issued a report stating that the overall condition of the Italian banking system is good. However, like other countries in the euro area, risks to Italy’s financial stability have also increased due to continued geopolitical instability, rising energy prices, inflationary pressures and deteriorating economic growth prospects. The report said that the asset quality of the Italian banking system showed no signs of deterioration, and that interest rate hikes had improved profitability. Benefiting from the economic recovery in 2021 and the first nine months of 2022, Italy’s public finances have improved. But the financial situation of Italian companies has been negatively impacted by slowing economic activity, higher prices for energy products and higher interest rates. The disposable income of Italian households may deteriorate in the second half of this year due to the continuation of high inflation.