On July 7, the three major U.S. stock indexes fluctuated and adjusted, and the Nasdaq hit a new record high. As of press time, the Dow is up 0.11%, the Nasdaq is up 0.49%, and the S&P 500 is up 0.22%.
The following is a summary of important information in the global market:
Global macro
Citi predicts that global stock markets will only rise 2% in the next year
Citigroup predicts that as the current strong momentum in corporate earnings fades and the central bank’s easing efforts shrink, by mid-2022, MSCIMing ShengThe global index will rise by only 2%. “The optimistic earnings revision should support the second half of 2021.Global stock market, But as the momentum of earnings per share weakens, andcurrencyTightening is coming, and next year may be even more difficult,” Citi said on Tuesday. Citi said that the so-called recovery deal is “not over” and it is recommended to buy on dips. In terms of industry, Citi is optimistic about the traditional economic cycle stocks and the IT industry. Equipped with a defensive plate.
“OPEC+” suspends crude oil production consultation agencies are optimistic about the recent trend of crude oil
International investment banks worry that crude oil is facing short-term supply shortages.Goldman SachsSaid that the failure to reach an agreement has brought uncertainty to the “OPEC+” crude oil production route, and it is expected that “OPEC+” will gradually increase production before the first quarter of 2022.Morgan StanleyIt is believed that in view of the current shortage of crude oil supply and future demand growth, the short-term crude oil market is in a state of shortage. In the medium term, if the “OPEC+” lacks coordination, the implementation rate of production quotas may deteriorate.
India may soon release a hawkish signal that the country’s insurance companies have begun to plan ahead
India ICICIPrudentialLifeInsuranceThe company claims that the acceleration of inflation andOil priceUnder the risk of soaring, the Central Bank of India may signal at its August meeting that loose monetary policy is beginning to normalize.
“We need tointerest rateTo prepare for the ascent, the first step is to increase the inverseRepurchaseinterest rate,” said Arun Srinivasan, head of fixed income at Baocheng Life Insurance, one of India’s largest private life insurance companies.
The U.S. urges the European Union to reconsider the digital tax plan, fearing undermining the progress made in the global corporate tax agreement
The United States is urging European officials to reconsider plans to implement a digital tax in the 27 EU countries. Disputes surrounding this tax could undermine the recent major progress made in reaching a corporate tax agreement at the global level. Before the meeting of the G20 finance ministers in Venice this week, U.S. Treasury officials said in a phone call with reporters on Tuesday that the digital tax proposal may not be conducive to the agreement reached last week to cancel the so-called digital service tax. The United States believes that such taxes constitute discrimination against American companies. According to an agreement reached at the Organisation for Economic Cooperation and Development (OECD) last week, 130 countries and regions have supported plans to set minimum corporate taxes while sharing the right to tax multinational companies. The latter is aimed at things like Facebook,AmazonAnd other companies, cross-border e-commerce accounts for a large proportion of their business. The agreement also plans to repeal the current law that imposes taxes on cross-border electronic sales.
South Korea’s prices and housing prices “all-round rise” In the first half of the year, the increase in agricultural product prices and housing prices in the metropolitan area hit a record high in nearly 20 years
Statistics released by the Korean Statistics Office on July 5 show that from January to June this year, the price index of agricultural, livestock and aquatic products in South Korea increased by 12.6% year-on-year. The increase in the first half of the year was the highest since 1991, and there were two consecutive months. The number is rising.sectionAgricultural productsThe price increase even hit a new high in decades.At the same time, Seoul and other metropolitan cities in the first half of the yearHouse priceThere was also the highest increase in nearly 20 years. In the second half of the year, South Korea’s inflation situation may intensify.
Russia’s National Welfare Fund’s asset structure adjustment: the proportion of renminbi is raised to 30.4%, excluding the dollar
The Russian Ministry of Finance announced the completion of state welfare on July 5fundAsset structure adjustment, completely excluding the US dollar, the proportion of renminbi was raised to 30.4%.
According to reports, theannouncementSaid: “Excluding the US dollar from the asset structure of the Russian National Welfare Fund, the proportion of the pound sterling has shrunk to 5%, the proportion of the euro and the renminbi have increased to 39.7% and 30.4%, respectively, the proportion of the yen is 4.7%, and the proportion of spot gold is 20.2%.”
U.S. stocks focus
US June ISM non-manufacturing PMI falls short of expectations
According to Xinhua Finance’s July 7 news, the US June ISM non-manufacturing industrySMEsSignificantly lower than expected, the contraction of the indicators for measuring employment reflects the difficulty of employers in attracting employees. Specific data show that the US June ISM non-manufacturing PMI recorded 60.1, and the expected 63.5, the previous value was 64; the June ISM non-manufacturing employment index recorded 49.3, the previous value 55.3. The result is similar to that of the manufacturing survey, and the manufacturing employment index has also declined.
Economic growth concerns push U.S. debt to rise, short-covering stimulus yields fall below 1.35%
Due to the poor performance of the ISM index, which measures activity in the US service industry, US Treasury yields fell to a four-month low, and short-covering aggravated this trend. Jay Barry etc.JPMorganThe strategist wrote in a report to clients that the huge response to the data in the U.S. bond market in the past week and the lackluster response of the inflation-preserved bond (TIPS) market indicate that short covering has magnified the trend. The bank’s recent U.S. bond customers The survey shows that the size of short positions has approached the high point of the year.CanadaBank of MontrealStrategist Ian Lyngen said that the decline in U.S. bond yields also reflects the view that “the current growth momentum of the U.S. economy is only temporary.”
China Office of the State Council issued a document pointing to the stubborn disease in the capital market to strengthen the supervision of China’s concept stocks, causing heated discussions
The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council have issued the “Opinions on Strictly Cracking Down on Illegal Securities Activities in accordance with the Law” (hereinafter referred to as the “Opinions”). It should be noted that this is the first China-run and state-run joint venture in the history of my country’s capital market. Special documents issued to combat illegal securities activities.
The “Opinions” pointed out that measures should be taken to deal with the risks and emergencies of Chinese concept stock companies, and to promote the construction of relevant regulatory systems. Amend the special regulations of the State Council on the overseas stock raising and listing of joint stock companies, clarify the responsibilities of domestic industry supervisors and regulatory authorities, and strengthen cross-departmental regulatory coordination.
U.S. stock company
Ideal car: Confirmation of mercury in the seat substance will assist in the investigation of the truth of the incident
According to the news on July 7, in response to users’ reports that suspected “mercury” substances were found in vehicle seats,Ideal carLate at night on the 6th in its officialWeiboA statement was issued saying that on July 6, we sent the substance on the user’s seat to a professional testing agency for testing and confirmed that the substance contained mercury (commonly known as mercury).Ideal carRequest and accompany users to report to the local public security organs together, and will assist the public security organs in investigating the truth of the incident.
Ideal carIt is also reiterated that the use and purchase of mercury in all links including parts, production, and manufacturing are zero! To make a smart electric car, the ideal car will not use it, and there is no need to use mercury. If mercury is found in the car, it must be caused by external behavior.
Weibo responds to “platform privatization”: false rumors
According to foreign media reports,WeiboChairman Cao Guowei negotiated with state-owned enterprises to increase the price of 90-100 US dollars per shareWeiboPlatform privatization. As of press time, Weibo has risen more than 40% before the market. A reporter from China Business News asked Weibo for verification, and the other party responded that it was a “false rumor.”
The Pentagon cancels the $10 billion cloud contract and intends to split the award to Microsoft and Amazon. Microsoft: understand and respect the decision to cancel the contract
The Pentagon cancels the 2019 awardMicrosoftThe company’s $10 billion cloud computingcontractAnd intends to split toMicrosoftwithAmazonTwo companies.AmazonIt rose 4.7% to $3,675.74, the largest increase since November 4.MicrosoftBasically unchanged at 277.66 US dollars. Amazon expressed appreciation for the Pentagon’s decision. In a statement, it stated that the contract awarded to Microsoft was “the result of external influence, which should not be the case in government procurement.” Microsoft expressed its understanding and respect for the decision to revoke the contract because the Department of Defense would otherwise Facing a protracted lawsuit.
Citigroup regains the top spot in bond underwriting in Africa, plans to expand local manpower by 10%
on Tuesday,Citigroup(C.US) may add nearly 100 new employees to businesses across Africa. The group defeated competitors and regained the top spot in bond underwriting arrangements in the region. The bank has begun to fill these vacant positions, recruiting for local businesses, and expects the number of personnel in sub-Saharan Africa to increase from nearly 900 by about 10%.
Breaking the news: Apple’s self-developed M2 chip will be launched in the first half of next year
According to foreign media reports, after the launch of the first self-developed Mac chip M1 based on the Arm architecture in the early morning of November 11 last year, and the introduction of hardware products such as MacBook Air and iPad Pro equipped with this chip,appleWhen the next generation of self-developed chip M2 will be launched, it has also attracted much attention. In terms of the launch time of M2, a person who broke the news said on social media on Monday local time that M2 will be launched in the first half of next year. The person who broke the news also revealed on social media that the first product equipped with the M2 chip may be a color version of MacBook or MacBook Air.However, M2 will be launched in the first half of next year.appleAnnounced the news.
Honda Motor’s U.S. sales in June increased by 33.4% year-on-year, and sales in the second quarter increased by 65.7% year-on-year
Honda Motor(HMC.US) announced that total US sales in June increased by 33.4% year-on-year, and sales in the second quarter increased by 65.7% year-on-year to 486,419 units.
In June, car sales increased by 33.3% year-on-year, truck sales increased by 33.5% year-on-year, quarterly car sales increased by 54.4% year-on-year, and truck sales increased by 73.9% year-on-year.
Business impact hits the red line of advertising law, Abbott’s internal and external troubles
AbbottWas fined again for violating the Advertising Law. On July 6, the Tianyan Check App showed that recently,AbbottTrade (Shanghai) Co., Ltd. added a new administrative penalty. The penalty was for publishing medical, pharmaceutical, and medical device advertisements in violation of Article 16, Paragraph 1, Paragraph 1, of the Advertising Law. The penalty resulted in a fine of RMB 848,000 and an order to stop publication. The punishment unit is the Shanghai Municipal Market Supervision Administration.
It’s worth mentioning that in recent yearsAbbottIt has been punished many times for violations of the Advertising Law, and its domestic market business is in a tepid state. In the face of “internal and external troubles”, how to expand the domestic market and increase business revenue in China is an urgent need for Abbott to solve problem.
(Article Source:Oriental wealthResearch center)
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