On Wednesday, Eastern Time, the three major indexes of the U.S. stock market rose collectively, and the Nasdaq reached a new record high. The S&P 500 index stood at 4,500 points, which also set a new record high. As of press time, the Dow is up 0.10%, the Nasdaq is up 0.13%, and the S&P 500 is up 0.22%.
Global macro
ECB officials: should strengthen supervision of non-bank financing in the euro area
Schnabel, executive member of the European Central Bank, pointed out that after the world faced the 2008 financial crisis,BankThe rapid increase in financial products,currencymarket,fundFunds such as pensions and pensions have increased significantly, creating new risks. Due to the non-BankThe varying degrees of success in financing have affected the economy of the Eurozone unevenly.
Schnabel pointed out that, especially the maturity portfolio and liquidity of bonds, there may be problems, which will weaken the effect of the central bank’s monetary policy and require greater supervision.
PMI data released, the economic recovery of Europe, the United Kingdom and the United Kingdom slows down
According to data released by market research firm IHS Markit on the 23rd,Purchasing Managers Index(SMEsThe month-on-month drop to the lowest value in eight months indicates that the expansion of the private sector in the United States is slowing sharply.
The report released by Eschen Huamai on the same day showed that the shortage of raw materials, the difficulty in recruiting enterprises and the rapid spread of the delta strain of the new crown mutation virus in the United States were the main reasons for the month-on-month decline in the comprehensive PMI in August. That month, the composite PMI fell to 55.4 from 59.9 last month, and the indicator has been declining month by month since it hit a record high of 68.7 in May. The analysis pointed out that this month’s correction of the PMI index highlights that supply chain disruptions are a blow to companies that are already unable to meet market demand. Service providers and manufacturers continue to face challenges in attracting employees and obtaining supplies.
Specifically, the manufacturing PMI declined significantly from 63.4 points in July to 61.2 points, which was also lower than the expected 62.5, which was the lowest value of this indicator in 4 months. Its sub-data factory output index fell to 56.3 from 59.7 last month, the lowest level in the past five months. At the same time, the service industry activity index fell 4.7 points to 55.2 points from the previous month, which was lower than the expected 59.5 and the previous value of 59.9. It fell for three consecutive months and was the lowest in eight months.
U.S. stocks in focus
Will U.S. stocks crash the global market?
a lot ofAnalystIt is believed that the “scissor gap” trend between developed market and emerging market stock markets will continue in the second half of the year, but whether the U.S. stock market will collapse has become the biggest suspense. While the three major U.S. stock indexes continue to hit new highs, whether there is a bubble in U.S. stocks, whether it will burst, and when it will burst, has become the focus of global investors’ attention from time to time. Rational investors believe that multiple indicators such as the price-earnings ratio that measures valuation levels and the scale of derivatives transactions that hedge market risks are constantly reminding people of risks, and the warnings are becoming louder and louder.For example, “Stock God” Buffett has a well-known indicator. If the total market value of all listed companies accounts forGDPIf the ratio of 70% to 80% is between 70% and 80%, buying stocks may give investors quite good returns in the long run. Beware of risks at 100%. Bubbles may burst when it exceeds 120%. Now, this indicator of US stocks has reached 200%.
But optimistic investors can also name many positive factors to justify the current situation-the economy is still recovering and corporate profits are still strong. According to data from Refinitiv, the profits of S&P 500 index companies in the first quarter increased by 53% year-on-year, and the growth rate in the second quarter is expected to reach 93.8%.Especially in the case of super loose monetary policy and high inflation, the actualinterest rateNegative, cash existsInsuranceBeing in the cabinet means depreciation, and you must invest in it to get a better return. This is also the reason why the prices of houses, bitcoin, and luxury goods are rising.
Bank of America said risks in US stocks are consolidating
Bank of AmericaA copy of the globalresearch reportSaid that this week the stock market’s repeated record highs “will only encourage more investors to take measures to reproduce past behaviors before the arrival of fragility shocks”.
The US stock market continued to rise on Tuesday, and the news that the US Food and Drug Administration approved full use of the new crown vaccine on Monday continued to provide impetus to the bulls. However,Bank of AmericaAnalysts said that seasonal factors andMidlandThe Reserve Bank is about to change its policy, that is, it is expected to reduce its monthly bond purchases of US$120 billion, which will only increase the possibility of greater shocks in the coming months.
They wrote in the report: “To bet on the upward trend of U.S. stocks and avoid top positions, we reiterate that we tend to fund SPX call options by selling VIX put options.” “Historically, this entry point is very good. Attractiveness, the volatility index may be affected before and after the September FOMC meetingMidlandThe reserve reduced the risk of support, even if the stock market rose during this period. “
Since August 17, the U.S. stock market has sold off last week becauseMidlandThe minutes of the July policy meeting of the Reserve Bank of China show that most officials support the beginning of this year to reduce the scale of debt purchases.AboveBank of AmericaAnalysts said that the stock market’s weakness last week “demonstrates the fragility of the market during what appears to be a’calm’ period”. “While we are still concerned about the risk of vulnerability entering the fall, it is also important to recognize the potential for a fragile market to experience a sharp reversal.”
U.S. stock company
Apple responds to South Korea’s proposed ban on App Store rake: users will be at risk
A few days ago, there were reports that South Korea might ban Alphabet’s Google andApplesThe company charges commissions for in-app purchases from software developers. This is the first such restriction in a major economy and could damage a lucrative source of income for the tech giant.
ApplesIn response, the bill puts users who purchase digital goods from other sources at risk of fraud, undermines their privacy protection, and makes it difficult for them to manage product purchases.
ApplesSaid that it is believed that this proposal will lead to a decline in users’ trust in purchasing products from the App Store, reducing the chances of more than 482,000 registered developers in South Korea. So far, the cooperation between Korean developers and Apple has created more than 8.55 trillion won in revenue.
Facebook considers developing NFT products to match its digital wallet
Facebook is considering developing NFT (Non-Fungible Tokens) products outside of digital wallets. NFT, a digital asset, continues to be popular with the rise of blockchain technology. David, co-founder and board member of Facebook’s digital currency project DiemMarcus(David Marcus) said on Tuesday: “We are definitely studying multiple ways to participate in this field because we think we are in a very advantageous position.”
data shows that,MarcusLead the internal team that developed the Facebook digital wallet Novi. He said that the digital wallet can be used to store NFT products, “When you have an excellent encrypted wallet like Novi, you must also consider how to help consumers support NFT. We are definitely considering this issue.” However, he did not Explain in detail which NFT-related products Facebook may launch.
MarcusSaid that Faceboo’s digital wallet is “now ready”, but the company has been waiting for the digital wallet to be launched with Diem. It is reported that the predecessor of Diem is the digital currency Libra that Facebook originally planned to launch; Diem is a stable currency pegged to the US dollar, and it is not clear when it will be launched. Facebook’s digital currency project has faced tremendous pressure from legislators and regulators since its announcement.
BHP Billiton Approves Phase I Investment of Jansen Potash Project
BHP Billiton recently approved a capital expenditure of US$5.7 billion to invest in the first phase of the Jansen Potash Project in Saskatchewan, Canada. The annual output of the first phase of the Jansen project is expected to be approximately 4.35 million tons, and the deposit has the potential for further expansion (subject to study and approval). The project is scheduled to be put into production in the 2027 calendar year, with a construction period of approximately 6 years, and a ramp-up period for production capacity of 2 years after it is put into operation.
Mike Henry, CEO of BHP Billiton, said that the project is highly compatible with the development strategy of the group. It is a future-oriented world-class commodity development project that will help BHP Billiton form a large-scale, low-cost, and expandable asset portfolio. The Jansen project pays great attention to the concept of sustainable development during the design and development process. The whole process of the project will achieve lower greenhouse gas emissions and water consumption.
BHP Billiton predicts that the increase in demand for potash will gradually digest the existing excess capacity in the industry. By the end of the 2020s or early 2030s, new supplies will usher in opportunities. This is basically the same as the expected production time of the Jansen project. Starting in 2030, the long-term price trend of the potash industry is expected to be determined by the cost of new mines in Canada using water-soluble mining methods. Compared with traditional mines including Jansen, water-soluble mining not only consumes more energy and water, but also requires higher operating costs and maintenance capital.
South Korea intends to legislate against Google’s Apple monopoly
Google and Apple prohibit software developers from using third-party independent payment systems. South Korea is dissatisfied with this and seems to be deliberately curbing it. South Korean lawmakers are considering passing so-called amendments to the Telecommunications Business Law to crack down on App Store operators because they monopolize the market. Apple responded that the bill would bring risks to users. Google has not responded to this matter.
Medtronic’s first-quarter fiscal 2022 net profit grows 57% year-on-year
May 1, 2021-July 30, 2021, the companyOperating incomeUS$7.987 billion, an increase of 23% year-on-year; attributable to the parent companyNet profit763 million US dollars, a year-on-year increase of 57%; basic earnings per share was 0.57 US dollars. The company’s industry is medical and health care equipment. Among them, the cardiology and vascular department revenue was 2.89 billion U.S. dollars, the medical and surgical revenue was 2.322 billion U.S. dollars, the neurology revenue was 2.204 billion U.S. dollars, and the diabetes department revenue was 572 million U.S. dollars. During the reporting period of the company, the total assets at the end of the period were 91.802 billion U.S. dollars, the pre-tax profit was 833 million U.S. dollars, and the net cash flow from operating activities was 1.292 billion U.S. dollars.
(Article Source:Oriental wealthResearch center)
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