According to news from the financial community network on September 9th, investors continue to pay attention to the Delta variant epidemic and the Fed’s Beige Book. At the same time, last week’s weak non-agricultural employment data and uncertainty about the Fed’s reduction in debt purchases have led to more cautious investor sentiment. US stocks closed down collectively. Popular Chinese concept stocks, education stocks, and WSB concept stocks fell; Best Group closed up 8.16%, Globalstar closed up 30.02%, New Oriental fell 6.79%, Haowei closed down 7.5%, and Weilai Automobile closed down 5.94%.
As of the close, the Dow Jones Index fell 69.26 points, or 0.20%, to 35030.74 points; the S&P 500 Index fell 6.03 points, or 0.13% to 4514.00 points; the Nasdaq Composite Index fell 87.7 points, or 0.57%, to 15286.6 points.
Popular Chinese concept stocks generally fell on Wednesday, with education stocks leading the decline, while online game stocks, new energy auto stocks, and blockchain concept stocks fell.
Among the education stocks, Gaotu fell nearly 13%, One Education fell more than 9%, Good Future fell more than 7%, New Oriental and Suntech fell more than 6%, NetEase Youdao fell more than 3%, and No. 1 High School Education fell more than 2%. . Among new energy auto stocks, Weilai Auto and Xiaopeng Auto fell more than 6%, and Ideal Auto fell more than 2%. Among online game stocks, Bilibili fell nearly 6%, NetEase fell more than 5%, and Tencent ADR fell nearly 3%.
Canaan Technology fell by more than 11%, Fangduoduo fell by more than 9%, Zhihu, 36Kr, and Yixian e-commerce fell by more than 7%, New Oriental, Douyu, and Shell fell by more than 6%, and Yiyao.com fell by nearly 6%. The company, Yunmi Technology, 21Vianet, iQiyi, Tiger Securities, Huya, Bit Digital, JinkoSolar fell more than 5%, Ebang International fell nearly 5%, Thunder, Qutoutiao, Cheetah Mobile, Ninth City, Fu Tu Holdings fell more than 4%, Tencent Music fell nearly 4%, Huanju Group and Vipshop fell more than 3%, Pinduoduo fell by nearly 3%, Alibaba and Baidu fell by more than 2%, and JD.com fell by nearly 2%.
The price of gold futures for December delivery on the New York Mercantile Exchange fell by $5, or 0.3%, to close at $1,793.50 per ounce, the lowest closing price since August 26. After the release of the Fed’s Beige Book report, the price of gold futures in the electronic trading session climbed to $1,794.90. The price of natural gas futures for October delivery on the New York Mercantile Exchange rose 35 cents, or 7.6%, to close at $4.914 per million British thermal units on Wednesday, the highest closing price since February 2014. West Texas Intermediate Crude Oil (WTI) futures prices for October delivery rose 95 cents, or 1.4%, to close at $69.30 per barrel.
The Fed’s Beige Book survey report released on Wednesday stated that US economic growth slowed slightly to a moderate level from early July to August, and inflation stabilized at a high level. Supply shortages, including limited inventories of cars and homes for sale, have also caused the economy to fall back from the pace of growth earlier this year. According to the report, all Federal Reserve jurisdictions continue to report overall employment growth, but the rate of job creation varies from mild to strong. Inflation has remained high and has stabilized, and half of the regions believe that prices are rising rapidly.
Due to widespread resource shortages, price pressures continue to prevail. Several jurisdictions stated that companies expect sales prices to rise sharply in the coming months. Companies report to the Fed that they find it easier to pass cost increases on to consumers through higher prices. According to the report, some jurisdictions pointed out that due to the spread of the Delta variant virus, the timetable for resuming work has been delayed. Businesses’ demand for workers continues to increase, but all jurisdictions have noticed a large labor shortage, which limits employment growth and in many cases hinders business activities.
The Governor of the Bank of England Bailey said that, like some other officials, he also believes that the minimum standard for tightening monetary policy has been reached. This statement may strengthen market expectations for the Bank of England to raise interest rates next year.
Bailey said in Parliament on Wednesday that at the August meeting, central bank officials were divided on whether there was clear evidence that the economy was eliminating idle capacity and “sustainably” achieving the 2% inflation target, and that the numbers of the two factions were basically the same. The Bank of England has previously stated that it will maintain its policy at least until these conditions are met.
Deputy Governors Dave Ramsden and Ben Broadbent said they agreed with Bailey’s statement. But Silvana Tenreyro, an external member of the Monetary Policy Committee, said he belongs to a different group. Bailey emphasized that those who believe that the conditions listed in the forward-looking guidelines have been met do not see this as a sufficient reason to tighten the policy immediately.
Fed Williams: It may be appropriate to start reducing debt purchases later this year
New York Federal Reserve Bank President John Williams (John Williams) said on Wednesday that if the US economy continues to improve, it may be appropriate for the Fed to start slowing asset purchases later this year. Williams said on Wednesday: “Assuming the economy continues to improve as I expected, it may be appropriate to start slowing down the pace of asset purchases this year.” He emphasized that even if the asset purchase plan is ended, the monetary policy stance will continue to support a strong and comprehensive Economic recovery.
Federal Reserve officials have repeatedly emphasized that they will continue to purchase U.S. Treasury bonds and mortgage-backed securities at the current rate of $120 billion per month until “substantial progress” is made in achieving the goals of maximizing inflation and employment.
Williams said that inflation has clearly reached the standard, but he said that the labor market needs to make more progress in order to achieve “substantial further progress” in the Fed’s goal of maximizing employment.
Goldman Sachs and other major Wall Street banks issued a warning: US stocks are facing a correction risk
Wall Street issued increasingly loud warnings: US stocks are facing the test of a correction in this big bull market. Strategists from Goldman Sachs, Morgan Stanley and Citigroup issued the latest forecasts, believing that there may be a negative shock to disrupt the stock market’s continuous upward momentum. The spread of the delta strain, the weak global economic recovery or the withdrawal of the central bank’s stimulus policies will all pose risks.
“High valuations increase the vulnerability of the market,” Christian Mueller-Glissmann, managing director of portfolio strategy and asset allocation at Goldman Sachs, said in an interview. “If there are new negative developments, it may cause economic growth to suffer. It triggered a rapid hedging trend in the market.”
Morgan Stanley downgraded its recommendation on the U.S. stock market to reduce its holdings, and adjusted its global stock rating to equal year-on-year weight, on the grounds that the economic growth by the end of October is facing “huge risks”. At the same time, Credit Suisse maintains a small reduction in US stocks, citing factors such as extreme valuation and regulatory risks.
Qualcomm CEO: Willing to cooperate with foundries in Europe, and the problem of chip shortage will be basically solved next year
Qualcomm CEO Cristiano Amon said today that if the EU’s automotive chip production incentive program can attract suitable foundries, Qualcomm is also willing to cooperate with them in Europe.
Anmeng said at the IAA auto show in Munich that European foundries are now mass-producing semiconductors, but the debate on investment in “cutting-edge technology” is ongoing, and Qualcomm is very interested in it. Anmon said: “The French government and the European government are having a very constructive dialogue. I think they are interested in attracting foundries to Europe.”
At the same time, Qualcomm also cooperates with all major foundries in the world, including TSMC, Samsung Electronics, Global Foundries and SMIC. Anmeng said that in the past 12 months, Qualcomm has done a lot of work in building new manufacturing facilities with suppliers to cope with global chip shortages. He said: “We expect that most of the problems will be solved in 2022.”
Facebook strongly responds to British regulators: vetoing the Giphy deal is unreasonable
According to reports, Facebook today strongly responded to the UK Fair Competition and Market Authority (CMA), saying that it would be “very unreasonable and inappropriate” to sell all of its shares in Giphy, an online dynamic GIF image search engine. In addition, whether the CMA has the right to veto the transaction is also open to discussion. As early as May 2020, Facebook announced the acquisition of Giphy, and deep integration of Giphy with Facebook’s application Instagram.
Although Facebook has completed the transaction, the CMA said in the middle of last month that it may force Facebook to abandon the transaction and sell all of Giphy’s shares again. CMA is mainly worried that the transaction will harm the interests of other social networking sites, saying that Facebook may use this acquisition to deny other social media platforms access to Giphy’s GIF pictures.
Relevant persons in charge of the Central Propaganda Department and the National Press and Publication Administration interviewed Tencent, NetEase and other game companies and platforms
On September 8, the relevant persons in charge of the Central Propaganda Department and the National Press and Publication Administration, together with the Central Cyberspace Administration of China, the Ministry of Culture and Tourism, etc., made an agreement with Tencent, NetEase and other key online game companies, game account rental and sales platforms, and game live broadcast platforms. talk.
The interview pointed out that in recent times, the Central Propaganda Department and the National Press and Publication Administration have successively issued the “Notice on Further Strict Management and Practically Preventing Minors from Indulging in Online Games” and “Notice on Carrying out Comprehensive Management Work in the Entertainment Field”, based on the era of cultivation. The newcomers adhere to the people’s stand and the views of the masses, and have introduced a series of important management measures, which have received enthusiastic responses and active support from all sectors of society, which fully demonstrates the care and love of the party and the government for the healthy growth of minors. All online game companies, game account rental and sales platforms, and game live broadcast platforms should increase their political positions, strengthen their responsibilities, deeply understand the importance and urgency of strict management and prevent minors from indulging in online games, and resolutely implement relevant requirements. Effectively protect the physical and mental health of minors.
The interview emphasized that all online game companies and platforms must strictly implement the requirements of the notice, fully implement the time limit for providing online games to minors, and must not provide minors with online game account rental and sale transactions in any form service. It is necessary to strengthen the review and control of online game content, strictly prohibit illegal and illegal content such as wrong value orientation, obscene pornography, and bloody terror, and resolutely resist bad cultures such as money worship, “mother pao” and “dan beauty”. It is necessary to consciously resist unfair competition, prevent excessive concentration or even monopoly, and place the focus on promoting technological innovation and better satisfying the new expectations of the people’s spiritual and cultural life. It is necessary to strengthen the management and control of “Krypton Gold”, prevent unauthorized changes to game content, illegal operation of games, etc., resolutely curb the wrong tendencies of “only money” and “only traffic”, and are determined to change various rules and gameplay designs that induce players to indulge. It is necessary to strictly manage game promotion, regulate and restrict celebrity endorsement game advertisements, and must not provide promotion channels for illegal games. It is necessary to strengthen the management of game live broadcasts, and prohibit high-value rewards and minor rewards.
The Central Propaganda Department and the National Press and Publication Administration will work with relevant departments and local governments to strengthen supervision, carry out special inspections, and seriously deal with violations; in the near future, they will launch a reporting platform to prevent minors from indulging in online games, and promptly accept and deal with clues about problems. Companies that have not implemented the implementation in place have found that they will be strict with each other to ensure that the anti-addiction work is implemented and achieved practical results.
Tencent responded to the interview: Strictly implement relevant regulations and requirements for minors to prevent addiction
Tencent responded to the interviews with relevant persons in charge of the Central Propaganda Department and the National Press and Publication Administration: Tencent will earnestly study the spirit of interviews, and under the guidance of relevant authorities, strictly implement relevant regulations and requirements for minors’ addiction prevention, and strengthen content security and Compliance, adhere to the correct value orientation, and effectively protect the physical and mental health and growth of minors.
Netease responded to the interview: Strictly implement the relevant regulations and requirements of the regulatory authorities on the prevention of minor addiction
In response to the interviews with the relevant persons in charge of the Central Propaganda Department and the National Press and Publication Administration, NetEase responded that it will carefully study and implement the spirit of the interviews, strictly implement the relevant regulations and requirements of the supervision department on the prevention of minor addiction, and further strengthen the review and management of game content. Adhere to the correct value orientation, through continuous technological innovation, launch more well-made and thoughtful original products, effectively guide the healthy games for minors, and promote the continued improvement of the game ecology.
Water drop company’s second quarter revenue of 939 million yuan launches a $50 million stock repurchase program
Waterdrop Company released its financial report for the second quarter of 2021 as of June 30. Net revenue was RMB 939.4 million (approximately US$145.5 million), an increase of 38.0% from RMB 680.8 million in the same period in 2020. The net loss attributable to Water Drop Company was 655.8 million yuan (approximately US$101.6 million), while the net loss for the same period in 2020 was 19,000 yuan. Not in accordance with US GAAP, the adjusted net loss attributable to Waterdrop Company was RMB 570.1 million (approximately US$88.3 million), while the net profit for the same period in 2020 was RMB 89.8 million.
Shen Peng, the founder, chairman and chief executive officer of Waterdrop, said that the capital market has experienced substantial volatility recently, and China’s insurance industry has entered a transitional period, which has affected the overall investment sentiment. “Drip’s complete infrastructure, organizational structure and competitive advantages will enable the company to better adapt to new trends and challenges. To prove our confidence in the company’s long-term sustainable development and our consistent determination to create better returns for shareholders, Drip The company’s management decided to start the stock repurchase program and it has been approved by the board of directors.” According to the plan, Waterdrop will repurchase no more than US$50 million in American depositary shares of Waterdrop within 12 months.
Zhihu responded to the moon cake problem: some people may not tolerate it due to maltitol, apologize and recall all moon cakes
Part of the Zhihu big V feedback, diarrhea and diarrhea occurred after eating the moon cakes of Zhihufa. In response, Zhihu’s official account responded: I would like to express my sincerest apologies to the friends involved in this incident. This time, the mooncake Zhihu commissioned a mature company with a good reputation in the industry to produce it, and chose the low-sugar formula provided by the manufacturer. The ex-factory products have been tested by the manufacturer and independent third-party organizations and meet the relevant quality standards of the food industry. “But ignoring maltitol, which is used to replace sucrose, may cause some people intolerance and cause physical discomfort. This is our mistake.”
Zhihu stated that it has contacted and provided remedies and services as much as possible, and recalled all moon cakes. In the future product selection and procurement process, stricter and higher standards will be implemented, and friends will also be invited to participate in the product selection and evaluation process.
EHang Smart is included in the FTSE Russell Global Stock Index Series
EHang Intelligent announced today that after FTSE Russell’s semi-annual review, the company has been included in the following three index constituents in the FTSE Russell Global Equity Index Series (FTSE GEIS):
FTSE Global Small Cap Index-FTSE Global Small Cap Index
FTSE Global All-Cap Index (LMS)-FTSE Global All-Cap Index (Large, Medium and Small)
FTSE Global Total-Cap Index (LMSµ)-FTSE Global Total-Cap Index
The inclusion will take effect after the US stock market closes on September 17, 2021 (Friday).
Source: Financial World NetworkReturn to Sohu to see more
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