On Wednesday, local time, the rebound of US stocks came to an abrupt end. Overnight, the yield of 10-year US bonds soared again, returning to above 4%, hitting the 4.1% mark, the highest level since the 2008 financial crisis. Coupled with the record inflation in the euro zone and the highest inflation in the UK in 40 years, the central bank’s hawkish interest rate hike is expected to rise, and European and American stock markets are under pressure, and all major indexes have closed down.
As a result, the expectation that the Fed will continue to raise interest rates aggressively has aggravated the worries about economic recession, and at the same time, it has also curbed the optimism brought by the earnings season. Especially in Tesla’s after-hours financial report, although the profit exceeded expectations, the revenue and gross profit margin were lower than expected, the average selling price of cars fell from the previous month, the revenue of "selling carbon" hit a new low in one year, and the strong dollar was also dragged down, falling more than 5% after hours.
It is worth mentioning that Musk put another "swear word" on the conference call. Tesla’s market value will exceed the sum of Apple and Saudi Aramco, and at the same time, it may buy back 5-10 billion US dollars of shares, but at present, this has limited effect on its stock price.
In terms of energy, the United States confirmed the sale of 15 million barrels of strategic oil reserves. Biden called on oil companies to suspend stock repurchase, but this failed to appease the market, and the US oil market rose by more than 4%.
In other respects, the British cabinet was in deep crisis, and the senior adviser and home secretary left. Trass apologized again but refused to resign.
[overnight U.S. stocks]
Among the large Chinese stocks, Alibaba fell 6.64%, Baidu fell 8.82%, Netease fell 5.15% and Pinduoduo fell 6.65%.
Among the large American technology stocks, Apple rose 0.08%, Amazon fell 1.11%, Google A fell 1.13%, and Nye soared 13.09%.
[global index]
[global goods]
The main contract of WTI crude oil closed at $85.02 per barrel, up 3.59%; The main contract of Brent crude oil closed at $92.57 per barrel, up 2.82%; The main contract of crude oil in the previous period closed at 669.90 yuan per barrel overnight, up 1.13%.
Overnight, the Shanghai gold main contract closed down 0.37% to 389.34 yuan per gram; The main contract of Shanghai Bank closed down 0.25% to 4,389.00 yuan per kilogram.
[overnight news]
Biden called on oil companies to suspend stock repurchase, and officials announced the release of crude oil reserves, saying that more may be released in the future.
Biden once again attacked energy companies and called on oil companies to suspend repurchase. He said that oil companies should not use profits to buy back stocks or pay dividends during the conflict between Russia and Ukraine. Oil companies should use the money to increase production to help reduce the fuel price of consumers. The latest data shows that the United States has only 25 days of diesel supply, the lowest since 2008.
The offshore RMB exchange rate against the US dollar fell below the 7.27 mark and broke through the previous low.
Compared with the previous trading day, the RMB fell by more than 400 points, and set a new low of 7.2675 on September 28th.
Federal Reserve’s Beige Book: Inflation is still at a high level, and it is more pessimistic about the US economic outlook.
According to the Beige Book, respondents have become more pessimistic about the prospects of the US economy in the context of growing concerns about weakening demand; Although there are signs of a slowdown in the US labor market, it is still tense, and the pressure of rising wages still exists. The Beige Book predicts that the future price increase will be generally moderate.
Britain’s new cabinet is in deep crisis: senior adviser and home secretary leave, Trass apologizes but refuses to resign.
The new leadership of British Prime Minister Trass has only been in office for two months and is in deep crisis. At the end of September, Trass just fired Finance Minister Kovoten. On Wednesday, local time, Interior Minister braverman announced his resignation. Earlier, Jason Stein, one of Trass’s most senior consultants, had been suspended.
Britain’s CPI in September exceeded expectations by 10.1% year-on-year and returned to the highest level in 40 years.
Affected by food prices, both CPI and core CPI in the UK unexpectedly accelerated in September, consolidating the expectation that the Bank of England will raise interest rates by 75 basis points in November. Britain’s CPI in September was 10.1% year-on-year, expected to be 10%, and the previous value was 9.9%, and the year-on-year growth rate returned to the highest level in 40 years; In September, CPI was 0.5% month-on-month, expected to be 0.4%, and the previous value was 0.5%. The pressure is once again on the Bank of England.
[company news]
Tesla’s profit exceeded expectations, but its revenue and gross profit margin were lower than expected.
In the third quarter, Tesla’s profit was higher than expected, close to a record high, and its revenue hit a single-season high, but its gross profit margin was lower than expected. The average selling price of cars fell month-on-month, and the revenue from "selling carbon" hit a one-year low, saying that the negative impact of foreign exchange on profits was $250 million. Tesla reiterated that it expects the average annual delivery growth rate to reach 50% in many years, saying that the output of factories in Shanghai and other places has reached a single-season high, and the Semi truck is scheduled to start delivery in December. The output of 4680 batteries has tripled from the second quarter, and the energy storage in the third quarter has reached a new high, increasing by 62% year-on-year. After the financial report was released, Tesla’s share price once fell by nearly 7%. Musk said that the delivery volume in the fourth quarter will reach a new high, and the quarterly demand will be "quite good". The after-hours decline narrowed to less than 3%, but CFO said that it is expected that the annual delivery growth rate this year will be less than 50%, and the after-hours decline will expand.
Musk: Tesla’s market value may exceed the sum of Apple and Saudi Aramco.
Musk said that the market value of Tesla may exceed the sum of Apple and Saudi Aramco. It is estimated that in 2022, the output growth rate is expected to exceed 50%, and the vehicle delivery growth rate will be lower than 50%. The power problem in Germany will not affect the production of the Berlin factory. Cybertruck pickup truck is expected to be put into production in the middle of next year. It is estimated that 50,000 Semi electric trucks will be produced in 2024. Note: Up to now, the total market value of Tesla is 695.7 billion US dollars, that of Apple is 2.31 trillion US dollars, and that of Saudi Aramco is 7.86 trillion Saudi riyals (about 2.09 trillion US dollars).
Big price increase across the board! New fruit powder on Apple iPad: low cost performance.
On the evening of October 18th, Beijing time, Apple released the 10th generation iPad and the new iPad Pro through official website. The starting price of both products has been greatly raised. Among them, the capacity of the tenth generation iPad is still 64GB and 256GB, and the starting price directly rises by 1,100 yuan, starting at 3,599 yuan. The new iPad Pro has 11-inch and 12.9-inch screen sizes, and its capacity is the same as that of the previous generation, with 128GB, 256GB, 512GB, 1TB and 2TB versions. The starting price of 11 inches rose by 600 yuan, starting from 6799 yuan; The starting price of 12.9 inches rose in 800 yuan, starting from 9299 yuan.
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