Overnight stock market
The world’s major stock indexes have varied on Friday. The U.S. stock market has collectively closed down for three consecutive trading days. The Dow and S&P are still in the dark for five consecutive days. Investors are still worried about the rebound of the epidemic.
The S&P and Dow Jones Industrial Average dropped 1.69% and 2.15% respectively this week, both setting their biggest weekly declines since June. The Nasdaq fell 1.61% this week, the worst week since July.
Commodity market
As of the close of the day, the price of light crude oil futures for October delivery on the New York Mercantile Exchange rose by US$1.58 to close at US$69.72 per barrel, an increase of 2.32%; the price of London Brent crude oil futures for delivery in November rose by US$1.47. Closed at 72.92 US dollars per barrel, an increase of 2.06%.
The most active December gold futures price on the New York Mercantile Exchange gold futures market fell 7.9 US dollars on the 10th from the previous trading day, and closed at 1792.1 US dollars per ounce, a decrease of 0.44%; December silver futures prices fell 27.7 cents , To close at 23.9 US dollars per ounce, a decrease of 1.15%.
Market news
[U.S. Centers for Disease Control: unvaccinated Americans are 11 times more likely to die of new coronary pneumonia than those who have completed vaccination]
The Centers for Disease Control and Prevention (CDC) issued a report on September 10, local time, in which experts obtained data from different regions of the United States and conducted a number of studies. One of the studies investigated more than 600,000 cases of new coronary pneumonia in 13 states, and found that people who were not fully vaccinated were 4.5 times more likely to be diagnosed with new coronary pneumonia than those who were vaccinated, and were more likely to be hospitalized than those who were vaccinated. 10 times more likely than vaccinated people.
[The United States proposes to the EU to resolve the steel tariff dispute]
According to reports, the United States has submitted a preliminary proposal to the European Union to resolve the three-year dispute over the United States‘ imports of steel from the European Union. It is reported that the proposal considered by US officials last week involves a tariff quota system, and intensive negotiations are currently underway. The two sides will discuss this issue at the first meeting of the Bilateral Trade and Technology Council to be held in Pittsburgh, USA on September 29.
[Former French Minister of Health officially under judicial investigation due to the response to the new crown epidemic]
On the evening of September 10, local time, the Judicial Court of the French Republic announced that it had officially launched a judicial investigation of the former Minister of Health Buzan in response to the early stage of the new crown pneumonia epidemic on the grounds of “putting others’ lives at risk”. Buzan was summoned to the court on the morning of the 10th and participated in a full day of hearings. French media said that the former French Prime Minister Philip and the current Minister of Health Verand may also be subject to judicial investigations.
[Canada’s unemployment rate fell to 7.1% in August, the problem of underemployment is highlighted]
On September 10, local time, the Employment Report released by Statistics Canada showed that Canada added 90,000 jobs in August and the unemployment rate dropped to 7.1%. In July this year, Canada added 94,000 jobs and the unemployment rate dropped to 7.5%. Data for August shows that the Canadian economy is steadily recovering. However, the unemployment rate is still high. According to a report released by the Bank of Canada recently, the full recovery of the Canadian economy will not fall to a low level until the end of this year or next year.
[Russian Ministry of Natural Resources: Russia’s oil reserves have been reduced by nearly 33% in the last ten years]
According to the Russian Satellite Network, the Ministry of Natural Resources of the Russian Federation wrote in the draft national report on environmental protection and status quo in 2020 that between 2010 and 2020, Russia’s crude oil reserves will be reduced by about 33% and natural gas reserves will be reduced by 27%, but coal reserves There is almost no reduction. According to the document, between 2010 and 2015, Russia’s oil reserves were about 30 billion tons, and from 2015 to 2020, it dropped to about 20 billion tons. Natural gas reserves remained at the level of 70 trillion cubic meters before 2015, and dropped to 5 billion cubic meters in 2016.
[Russian Foreign Minister: Russia loses confidence in the reliability of its Western partners]
On September 10, local time, Russian Foreign Minister Lavrov stated to the outside world that the current Western countries’ attitude towards Russia has been unprecedentedly intensified, including the implementation of various sanctions and other unscrupulous means of competition. Lavrov believes that the West is trying to contain Russia’s development through these means. He stated that Russia is willing to seek compromise and balance of interests in accordance with diplomatic practices on the basis of equality. Lavrov also emphasized that Russia is ready to restore comprehensive relations with the West, but only on the basis of mutual benefit. Russia has lost confidence in the reliability of its Western partners.
[Philippines once again extend the national disaster status until September 2022]
On September 10, local time, Philippine President Duterte signed an announcement stating that due to the ongoing new crown pneumonia epidemic, the country’s disaster status in the Philippines will be extended for another year until September 12, 2022. The announcement stated that this move will help the Philippine government control the spread of the virus, as well as help the government to carry out vaccination work and issue epidemic response funds.
[The court makes an unfavorable App Store ruling that Apple’s market value has evaporated by US$85 billion]
On Friday, local time, the California court ruled on the lawsuit between Apple and game developer Epic Games. The judge asked Apple to allow App developers to direct users to a third-party payment system. The law will take effect in December. Affected by this news, Apple’s stock price closed down 3.31% on Friday, the largest drop since May 4, and the market value evaporated by about $85 billion.
[Volkswagen is open to software cooperation]
Volkswagen CEO Herbert Diess said in an interview that the company is open to developing software in cooperation with other automakers. Diess said that the development of autonomous driving systems and software requires high costs, so it is very important to install this technology in as many vehicles as possible, and the public is ready to share its own platform.
[General Motors CFO said Q3 delivery may be reduced by 200,000]
General Motors Chief Financial Officer Paul Jacobson said on the conference call that due to the shortage of chips, the company’s delivery volume in the third quarter may be reduced by 200,000 vehicles. Jacobson revealed that GM expects to receive compensation from battery partner LG Energy Solutions. Prior to this, GM recalled Chevrolet Bolt electric vehicles worldwide and paid $1.8 billion in recall costs.
[UPS acquires the express company Roadie]
On Friday local time, the logistics giant UPS announced the acquisition of the express company Roadie. The transaction plan is expected to be completed in the fourth quarter, and the two companies did not disclose financial terms. UPS stated that Roadie will continue to operate under its current name, and that goods transported by Roadie will not enter the UPS network, and packages transported by UPS will not enter the Roadie network.
[Bank of America appoints new CFO]
Bank of America announced on Friday that Alastair Borthwick, head of its global commercial banking division, will succeed Paul Donofrio as the bank’s CFO. Borthwick has led the commercial banking sector for the past 9 years. Before joining Bank of America in 2005, he worked at Goldman Sachs for more than 10 years.