On the disk, oil and gas stocks were among the top gainers. Murphy Oil and Caron Oil rose more than 8%, and Dawen Energy rose more than 7%; the online education sector fell, NetEase Youdao fell more than 8%, and Good Future fell more than 5%.
In the commodity market, international oil prices have risen significantly. As of closing, New York’s October crude oil futures closed up 2.15 US dollars, or 3.05%, to 72.61 US dollars per barrel; Brent November crude oil futures closed up 1.86 US dollars, or 2.53%, to 75.46 US dollars per barrel.
The following is a summary of important information in the global market:
Global macro
To pay for the “Infrastructure Act”, the U.S. Democratic Party intends to raise a number of taxes
An estimate released by the U.S. Congress on Tuesday shows that Democrats in the U.S. House of Representatives seek to pass tax changes to fund a $3.5 trillion economic stimulus package, which will reduce the annual income of Americans with an annual income of less than $200,000 by 2025. tax bill.
The Bipartisan Taxation Committee estimates that according to the Democratic Party’s plan, expanding the tax credits for children and working-class people will mean that the low-income class will pay significantly less taxes in 2023. This week, the House Ways and Means Committee, which sets taxes, is debating the plan. The committee said that at the other end of the income standard, taxes for people with incomes of more than $200,000 will rise slightly in 2023, and taxes for people with incomes of more than $1 million and more will rise by 10.6%.
It is estimated that by 2027, after the extended Child Tax Credit expires, people with an annual income of between US$30,000 and US$200,000 will begin to receive slightly higher tax bills.
South Korea’s employment growth in August, but the service and manufacturing industries are still “struggling”
Under the fourth pandemic of the new crown epidemic, the number of employees in South Korea still increased by 520,000 in August. However, in the same period, the number of employed persons in the service industry plummeted by 150,000. Although the growth rate has remained at around 500,000 for three consecutive months, the value has shown a downward trend for four consecutive months.
According to the “August Employment Trends” released by the Korean Statistics Agency on the 15th, the number of employed people in August this year increased by 518,000 year-on-year to 27.603 million. The unemployment rate fell by 0.5 percentage points year-on-year to 2.6%, the lowest value in the same month since the relevant statistics began in 1999.
In terms of industry sectors, the number of employed people in the health and social welfare service industry (243,000), construction (123,000), transportation and storage (107 thousand), and education service (51,000) increased. Affected by the epidemic, the number of people employed in face-to-face service industries such as wholesale and retail, catering, and accommodation decreased by 151,000. The manufacturing industry was reduced by 76,000 due to the impact of car companies’ strikes and production suspensions, the largest drop since last December (-11 million).
U.S. stocks in focus
JPMorgan Chase: Lighten up on technology stocks and increase stocks in a smooth cycle!
Since the US economic recovery slammed on the brakes, funds once poured into technology stocks to seek refuge, but JPMorgan Chase believes that it is time to lighten up technology stocks. Analysts such as JPMorgan Chase’s Marko Kolanovic recently stated that the market’s panic about economic growth is a bit excessive. The delta variant virus’s drag on the economy may only be temporary. Investors should consider reducing their investment in technology stocks and increasing their holdings in energy and other economic issues. Sensitive cyclical industry.
Although the pace of the reopening of the global economy has been delayed as the epidemic resumes, data from JPMorgan Chase shows that the epidemic caused by the Delta variant virus may have reached its peak and is fading in the United States and globally: as the Delta influence recedes , And inflation caused by supply disruptions and monetary easing continues, we expect re-inflation trading to perform better than the broader market. JPMorgan Chase believes that bond yields and cyclical assets may have bottomed out at the beginning of last month, and at the same time recommends increasing holdings in Japanese and emerging market stocks.
The signs of seasonal decline appear, U.S. stocks may be in danger
National Broadcasting Corporation Financial Channel (CNBC) financial buzzword Cramer (Jim Cramer) said that for investors, picking the stock winner in September this year may be a failed game, and he recommends that traders hold some cash. And gold. He warned: “With the end of the third quarter, the US stock market may become a dangerous place.” “I have said over and over again that September is the cruelest month. It is happening again and is experiencing it everywhere. A rolling pullback is a typical precursor to a seasonal decline that will begin in a few days,” Kramer said. Instead, Kramer recommends choosing cash and gold. “Right now, you’d better hold some cash and some gold,” he said on Monday (September 13).
He pointed out that figuring out which stocks will lead the rise in this volatility may be a daunting task, especially in this round. “Of course, on any given day, we can see a relieved rebound. The Dow Jones Index performed well today. Some healthcare stocks are higher, mainly health insurance stocks. Bank stocks are doing very well. However, I don’t want to be on anything. Too aggressive.”
He said that another option for traders may be to sell some stocks before a bigger correction in the market later this week. “If you are a trader, you might sell some stocks this week. The key is to get ahead of those who don’t know that September 17 is usually the hardest time of the year.”
U.S. stock company
Cooperating with BMW and Toyota hits a wall, Apple is independently developing Apple Car
According to people familiar with Apple’s plan, Apple is independently developing electric vehicles and is currently selecting the final component supplier. It is reported that since 2014, Apple has had its own automotive hardware research and development department, but Apple has encountered challenges in its research and development, so it discussed with BMW, Hyundai, Nissan and Toyota, hoping to cooperate in the development of Apple Car and sign a production agreement.
However, due to repeated delays by automakers, Apple’s negotiations with them have clearly failed. As the automotive industry generally transitions to electric vehicles, automakers have slowed down the progress of discussing cooperative development and signing production agreements. Apple hopes to replicate its foundry model in the consumer electronics field and outsource the actual production of Apple cars to an established manufacturer. However, automakers are reluctant to become Apple’s manufacturing subcontractors. It is reported that Apple has now decided that it can no longer postpone the release of Apple cars.
Amazon CEO: determined to expand its media business
Amazon (AMZN.US) is determined to expand its media business. At present, the development of the media business is still in the preliminary stage, but it has already started well. Now hundreds of millions of consumers watch Amazon’s original video content every day. Amazon spent 11 billion U.S. dollars to produce media content last year, which was much higher than the 7.8 billion U.S. dollars in 2019. The company announced in May this year that it spent US$8.45 billion on the acquisition of MGM’s studios and another US$465 million in the TV series “The Lord of the Rings”, which is expected to be released in September next year.
Amazon is negotiating to purchase the exclusive rights to show some of the major league football (NFL) games. The company has also installed the Amazon brand TV with Fire TV software Alexa sound control, which will be unveiled in a new form that combines media and e-commerce business.
Google fined $177 million in South Korea for allegedly abusing its dominant market position
On the 14th local time, the Korean Fair Trade Commission announced that Google had decided to impose a fine of 207.4 billion won, or approximately US$177 million, on Google’s alleged abuse of its dominant market position. According to media reports, on the same day, South Korea’s “Telecommunications Business Law” amendment formally came into effect. The bill prohibits mobile application store operators from requiring application developers to use the payment system designated by the former, and allows the South Korean government to conduct investigations on application store operators to protect user rights.
Procter & Gamble is speeding up its actions to combat climate change and achieve net-zero emissions of greenhouse gases by 2040
Procter & Gamble announced a comprehensive plan on September 14, 2021 to accelerate actions to address climate change. In addition, Procter & Gamble has also set a new goal, namely to achieve net zero greenhouse gas emissions from its global operations and supply chain (from raw materials to retail links) by 2040, as well as a phased goal for 2030, and strive to make substantial progress within ten years. .
The climate crisis affects every family and every region in the world. Most consumers around the world expect the brands they buy to help them develop environmentally friendly lifestyle habits. The latest scientific research shows that we must take decisive action to avoid the serious impact of climate change.
Mr. David S. Taylor, Chairman, President and CEO of P&G, said: “We are going all out to use the innovation and ingenuity of P&G to find new solutions to address climate change. The task ahead is extremely difficult. And the urgency is not enough to deal with a single company or a country. Procter & Gamble is working hard to reduce its carbon footprint, using its company’s scale and influence to promote unprecedented cooperation at the value chain level to actively respond to these challenges.”
Uber announces that the chief technology officer will resign, and there are no replacements for the time being
The chief technology officer of Uber (UBER.US) resigned less than a year after taking office. An email indicated that the outgoing chief technology officer Sukumar Rathnam will stay at Uber for a few more weeks to assist in the transition. An Uber spokesperson said the company currently has no immediate plans to find someone to replace him.
It is understood that no reason for resignation was given in the e-mail. Rathnam did not immediately respond to reporters’ request for comment. Uber’s eight engineering directors will now report directly to Uber CEO Dara Khosrowshahi.
Thuan Pham, the former chief technology officer of Uber, worked at Uber for 7 years and resigned last year. Soon after, Pham said in an interview with the media that he did not agree with Khosrowshahi’s approach to self-driving cars. By the end of this year, Uber changed course and sold its self-driving car division.
(Source: Oriental Wealth Research Center)
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