On Tuesday, Eastern Time, the three major U.S. stock indexes fluctuated and consolidated, with China’s gaming stocks leading the decline. As of press time, the Dow is up 0.15%, the Nasdaq is down 0.54%, and the S&P 500 is down 0.07%.
Global macro
U.S. manufacturing continued to recover in July, but the pace of growth slowed due to material shortages
U.S. manufacturing in JulySMEsFrom 60.6 in June to 59.5, the lowest value since January this year. The indicator for measuring factory employment rebounded after a slight contraction in June. This is the first time since November last year. It bodes well for the July non-agricultural employment report.
The Reserve Bank of New Zealand considers tightening mortgage standards
The Reserve Bank of New Zealand stated that it will start consulting on tightening mortgage lending standards in late August and will implement it on October 1. Consultation will be conducted on the proposal to further reduce the provision of high LVR loans to owner-occupiers.And recommend restrictionsBankFor owner-occupier loans, a maximum of 10% can be issued for new loans with an LVR higher than 80%.
U.S. stocks in focus
CancelPerformanceWhen the teaching and training institutions are transforming to survive
Shortly after the implementation of the new education “double reduction” regulations, industry giantsGood futureandNew OrientalBoth canceled the financial report release and conference call originally scheduled for this week, and said they would update them in the future. It is reported that the two companies plan to release quarterly reports as of May 31, 2021. Judging from the performance of the two companies last quarter,Good futureandNew OrientalIn the last quarter, it maintained a high revenue growth, and the K12 business accounted for a relatively high proportion of the overall business. However, with the official disclosure of the “double reduction” opinions, extramural discipline training at the compulsory education stage is strictly controlled, and its capitalized operation has become history. After “de-K12ization”, where is the future of the former leader in education and training? Up to now, the “double reduction” policy has been issued for more than a week, and the turbulence in the education and training industry continues.
Take history as a mirror! This bearish trend has seen U.S. stocks fear a correction of 10%-15%
The US stock market currently seems to be on the eve of a correction. S&P 500 Index,NasdaqThe index and the Chicago Board Options Exchange Volatility Index rose at the same time, and BTIG chief equity and derivatives strategist Julian Emanuel (Julian Emanuel) warned that this situation usually heralds a 10% to 15% pullback. “From the beginning of 2018, as long as we see this situation, basically there will be adjustments in a few weeks.” Emanuel said on Monday (August 2). “The most recent happened in September last year. We think history may actually repeat itself.” According to Emanuel, this bearish trend has been going on for several months. He said, “(S&P 500 Index) may return to 4000 points.”
U.S. stock company
PfizerSigned a contract with the U.S. military for a $3.5 billion COVID-19 vaccine supplycontract
The U.S. Department of Defense stated on Monday local time that the U.S. military hasPfizerSigned a contract for the production of a new crown vaccine worth 3.5 billion U.S. dollars. The company and BioNTech SE jointly developed and produced 500 million doses of the new crown vaccine. It is understood that these vaccines will be distributed around the world before the end of next year. Last December,Pfizer/BioNTech’s m-RNA-based COVID-19 vaccine has obtained emergency use authorization (EUA) from the US FDA for the first time. Within a few days after the news was announced, the US government increased its vaccine order by another 100 million doses, bringing the total order to 200 million doses. It is reported that, unlike the price of US$19.50 per needle paid by the US government in the first contract, Pfizer/BioNTech will deliver the products in a non-profit manner.
Google announced the launch of self-developed smartphone chips
According to Jiemian News, Google will expand the application of self-developed semiconductors. Google has developed semiconductors for smartphones, which will be equipped with two flagship models that will be on the market during the year. The semiconductor improves the level of artificial intelligence (AI) for processing images and sound. The report also said that Google has developed semiconductors this time using the design technology of British ARM Holdings. Combine the functions of CPU and image processing semiconductors, or entrust production to Asian foundry companies.
ON Semiconductor turns losses into profit in Q2, automotive, industrial-grade chip revenue hit a record
August 2nd, power management IC supplierON SemiconductorAnnounced the financial report for the second quarter of 2021. The financial report shows thatON SemiconductorRevenue in the second quarter hit a record high of US$1.670 billion, a year-on-year increase of 37.6%;Net profitFor 184 million U.S. dollars, a net loss of 1.4 million U.S. dollars in the same period last year. In terms of products, in the second quarter, automotive chip revenue increased by 69% annually (8% quarter-on-quarter) to the highest in history of US$556 million, accounting for 33% of revenue; industrial chip revenue increased by 24% (quarterly) (Up 18%) to 434 million US dollars, a record high, accounting for 26% of revenue.
SanofiProposal to acquire Translate Bio, an mRNA R&D partner
According to news on August 3, Reuters quoted two people familiar with the matter as saying:SanofiProposed to acquire Translate Bio Inc, its mRNA research and development partner. According to reports, the French drugmaker has issued a proposal to acquire all of Translate Bio’s shares, and the latter’s board of directors is expected to meet on Monday evening to discuss this matter.
Zinc giant Nexa Resources plans to develop copper mine
Nexa Resources SA, the world‘s fourth-largest zinc producer, intends to increase its investment in copper. Nexa Resources SA Chief Financial Officer Rodrigo Menck said that the company is currently considering expanding existing mine projects, and a series of potential new projects and acquisitions are under evaluation. It is reported that Nexa Resources intends to extend the underground mine development of Morro Agudo in Minas Gerais, Brazil, and also considers the Magistral copper mine in Peru as a potential project.
(Article Source:Oriental wealthResearch center)
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