On the disk, popular Chinese concept stocks generally fell, Huya fell more than 8%, and Bilibili fell nearly 3%.
The following is a summary of important information about the global market.
Global macro
The European Central Bank keeps three key interest rates unchanged in line with expectations
The European Central Bank kept the three key interest rates unchanged, in line with market expectations. In addition, the European Central Bank kept the asset purchase plan (APP) debt purchase rate unchanged at 20 billion euros per month, and slowed the fourth quarter’s emergency anti-epidemic debt purchase plan (PEPP) debt purchase rate.
The Fed’s Beige Book: U.S. economic growth slowed slightly in August
The Beige Book report released by the Federal Reserve on Wednesday stated that due to the rebound of the new crown epidemic, the US economic growth rate declined slightly in August. Overall, the US economy is still suffering from rising prices and labor shortages after the epidemic. The Beige Book pointed out that the slowdown in the U.S. economic growth is largely attributable to the reduction of people going out for dinner, travel and tourism in most areas. International travel restrictions have aroused public concerns about safety.
According to the report, inflation is still rising steadily. Half of the Fed’s 12 jurisdictions said they are facing strong price inflation, while the other half said the pressure is moderate. Although timber prices have fallen, the costs of metals, freight, construction materials, and other industrial necessities are rising in most regions. Due to widespread resource shortages, input price pressure continues to prevail.
The Bank of Canada keeps interest rates and quantitative easing program unchanged, and still expects the recovery to strengthen in the second half of the year
The Bank of Canada kept interest rates unchanged on Wednesday local time, saying that after experiencing a shocking contraction in the last quarter, economic growth is expected to strengthen in the second half of the year, but the fourth wave of epidemics and supply bottlenecks may drag the recovery. The Bank of Canada kept its key interest rate at a record low of 0.25%, as expected, and maintained its current quantitative easing program unchanged. In less than two weeks, Canada will hold a federal election.
The Bank of Canada said in a statement: “It is still expected that economic growth will strengthen in the second half of 2021, but the fourth wave of viral infections and continued supply bottlenecks may drag the recovery.” The Bank of Canada maintained its guidance unchanged, that is, economic growth. Idleness will be absorbed sometime in the second half of 2022, despite the unexpected economic contraction in the second quarter and a weak start to the third quarter.
U.S. stocks in focus
Following Goldman Sachs and Morgan Stanley, Bank of America has also joined the bearish camp of U.S. stocks
Recently, as the Delta mutant virus continues to wreak havoc, Wall Street’s optimism about the U.S. economy and the stock market has plummeted, and they have expressed “not optimistic”. Following Goldman Sachs and Morgan Stanley, Bank of America (Bank of America) also joined the bearish US stocks camp in the latest report.
Bank of America said on Wednesday that the S&P 500 index will rise by more than 20% in 2020. This is largely due to the surge in corporate profit growth, but the pressure on profit margins from rising costs may cause the index to rise this year. It fell 6% before the end. The bank also set the S&P 500 target for the end of 2022 at 4,600 points, which is only 2% higher than the current level.
Tianfeng Securities: US stocks second-quarter results exceeded expectations, preference for healthcare in the fourth quarter
Song Xuetao, a macro analyst at Tianfeng Securities, said on September 9 that the performance of US stocks in the second quarter report exceeded expectations, and the industries affected by the epidemic contributed to the main growth in performance. Profitability is the main risk point for US stocks. In the fourth quarter, preference is given to health care that may benefit from the epidemic. It is recommended to lower optional consumption and materials to be pro-cyclical; rising interest rates may not be conducive to information technology in stages, but large repurchases are expected to support the share price of the sector, and profits in the energy sector are still expected to be due to Crude oil production increased to achieve a month-on-month growth, maintaining the standard configuration.
U.S. stock company
Walmart intends to issue US$2 billion green bonds, the largest green bond issuance scale in the United States
Wal-Mart will issue bonds in the green bond market for the first time, and plans to raise US$2 billion with a ten-year term. This amount is the largest ever green bond issuance by a US company, surpassing the record of US$1.5 billion set by NextEra Energy Capital Corporation in June this year and Apple in 2016.
Wal-Mart’s US$2 billion 10-year green bond issuance is part of its US$7 billion green bond issuance in five instalments. The purpose is to fund the acquisition offer and a series of environmental protection efforts. According to its green financing framework, these projects include solar and wind energy projects, energy-efficient refrigeration, electric vehicles and waste reduction.
Tesla sets up an energy trading team: to provide support for battery and renewable energy projects
Posts posted by members of Tesla’s official website and professional social networking site LinkedIn show that electric car manufacturer Tesla is hiring members of its energy trading team to provide support for its battery and renewable energy projects. The company has expanded its business to include household solar and large battery storage facilities, which currently account for only a very small portion of its total revenue. Tesla also recently applied to start selling electricity in Texas.
BHP Billiton joins AI company to explore battery materials such as copper and nickel
Since this year, new energy vehicles and related industries have attracted much attention, and the strong demand for electric vehicles has led to more serious battery material supply problems. BHP Billiton announced on Wednesday that it plans to cooperate with KoBold Metals, an artificial intelligence exploration company, to find battery mineral materials such as copper and nickel in Australia and other parts of the world.
Game Station Q2 net sales increased by more than 25% year-on-year
After the US stock market on September 8, Game Station (GME.US) announced its financial results for the second quarter ending July 31, 2021. The financial report shows that Q2 net sales were 1.183 billion U.S. dollars, and the market was expected to be 1.12 billion U.S. dollars, compared with 942 million U.S. dollars in the same period last year, an increase of 25.63% year-on-year. Divided by business, in the second quarter, Game Station’s sales of accessories increased by 38.04% year-on-year, accounting for 51.5% of total net sales; software sales increased by 2.61% year-on-year, accounting for 33.5% of total net sales.
The cost of sales was US$863 million, a year-on-year increase of 25.04%. Sales and general administrative expenses were US$379 million, compared with US$348 million in the same period last year.
Amazon develops new point of sale system
According to reports, Amazon is developing a new point-of-sale system that can be sold to third-party sellers. It is reported that the new system can handle online and offline transactions, and can also link to other services such as Prime and Flex.
(Source: Oriental Wealth Research Center)
.