Hot news

• Biden: tackling inflation is a priority and is evaluating the reduction of tariffs imposed on China.

On May 10, local time, U. S. President Joe Biden said tackling inflation was a priority for the federal government. Biden introduced Democratic plans to fight inflation, including reducing costs for employers and employees and requiring large companies and high-income earners to pay a fair share of taxes. Biden said that tackling inflation requires lower supplier costs, so the federal government plans to involve more truck drivers to reduce the time it takes to transport goods to reduce manufacturers' costs.

When asked by the media whether to cut tariffs imposed on China during the Trump administration, Biden said the government was currently evaluating, "We are now discussing this issue and studying how to have the most positive impact." But Biden stressed that no decision had been made.

• The voting committee of the Federal Reserve said this year that it would not rule out the possibility of raising interest rates by 75 basis points, and the top three said they were confident of a soft landing.

Mestre, the voting committee of this year, said that it would be appropriate to raise interest rates by 50 basis points at the next two meetings, even if the unemployment rate may rise, but if inflation does not ease in the second half of this year, it will support a bigger rate increase. Next year, the voting committee Bostick supports raising interest rates by 50 basis points two or three times in the future. Both the New York Fed chairman and the Richmond Fed chairman believe that the Fed's reduction in inflation will not lead to a recession. Fed governor Waller said the Fed will not allow the mistake of high inflation in the 1970s to be repeated, but there is no need for aggressive action like Volcker's crackdown on inflation.

• "wooden Sister" Cathie Wood warns of global recession risk

Cathie Wood, chief executive of Ark Investment, expressed her concerns about the global economy on Tuesday, saying worrying data from regions such as Europe could herald an early stage of the economic downturn. "We think we could fall into a global recession. Before the release of the US CPI data on Wednesday, Wood also shared her views on inflation, saying that some progress had been made. "We are seeing commodity prices at least beginning to peak, and we are seeing other indicators of inflation, new and used car prices falling. The price of used cars has fallen sharply in the past three months. So the situation is improving. "

• Us Oil fell below $100 on Tuesday, but retail gasoline prices hit an all-time high

In the early morning of the 11th Beijing time, international crude oil futures closed lower on Tuesday. Concerns about the global economic outlook and the continued strength of the dollar weighed on oil prices, sending benchmark US WTI crude oil futures below $100 a barrel for the first time in nearly two weeks. The average retail price of regular gasoline in the United States rose above $4.37 a gallon on Tuesday, a record high, according to the American Automobile Association.

• American media: the number of hospitalized patients and infection rate of COVID-19 in the United States have increased significantly.

On the 10th local time, ABC reported that nearly 2400 COVID-19 patients in the United States need to be hospitalized every day recently, up 17 percent in the past week, citing data released by the federal government. Forty-one states and territories in the United States report that their daily hospitalization of COVID-19 has increased by 10% or more. At present, more than 68000 new confirmed cases are reported in the United States every day, an increase of 20 percent in the past week and 52 percent in the past two weeks, the report said. In the past month, the average daily number of confirmed cases in the United States has more than doubled. In addition, daily infection rates in 45 states and territories have increased by 10% or more in the past week.

Review of US stocks

• The S & P index stopped falling three times in a row, while technology stocks and US-listed stocks rebounded.

The three major indexes of US stocks are mixed, with the Dow down 0.26%, the Nasdaq up 0.98% and the S & P 500 up 0.24%. The main index of European stocks rose. The Internet and semiconductor sectors are strong, with NVIDIA Corp up nearly 4%, Apple Inc and Tesla, Inc. up about 1.6%. The Nasdaq China Golden Dragon Index rose 1.82%, NetEase, Inc and ideal rose more than 4%.

• Musk: the Chinese market may account for 30% of Tesla, Inc. 's sales, and it is possible to acquire mining companies in the future

On Tuesday, local time, Elon Musk talked about many topics in an online interview with the British media, including Tesla, Inc. 's business,$Twitter (TWTR.US) $Vision, views on the Chinese market, etc. "in the long run, China will account for 25 to 30 per cent of Tesla, Inc. 's sales," Mr Musk said. But Tesla, Inc. should not open other factories in China in the near future. Accordingly, the company will expand its factory in Shanghai.

• Senior EU official: Musk promises to abide by EU content rules after buying Twitter

Thierry Breton, EU internal market commissioner, said on Monday$Tesla, Inc. (TSLA.US) $CEO Elon Musk promised that he would abide by EU content rules after completing his acquisition of Twitter. Breton met Musk in Texas, and after the meeting, Breton said he and Musk had agreed on all issues. The EU passed the Digital Services Act (Digital Services Act) last month, which will require technology platforms to better regulate content, such as deleting illegal content such as terrorist posts and hate speech.

• Musk said Trump account will be unblocked after the Twitter acquisition is completed.

Tesla, Inc. CEO Elon Musk said on Tuesday that if he succeeds in acquiring Twitter, he will lift Twitter's ban on former US President Donald Trump. Musk said it was "extremely stupid" for Twitter to block Trump's account and that the social media should not be permanently blocked. "permanent closure should be extremely rare and really used in robot accounts, fraud accounts, spam accounts. I really don't think it's right to ban Trump, "Musk said. "I will lift the permanent ban, which fundamentally undermines trust in Twitter," Musk added. "I don't fully own Twitter yet. So it's not something that's going to happen.

• Intel Corp launches a new generation of AI chips to challenge the market dominated by NVIDIA Corp

$Intel Corp (INTC.US) $Gaudi2, a chip focused on artificial intelligence (AI) computing, was released on Tuesday, local time, and the chipmaker will further challenge the current$NVIDIA Corp (NVDA.US) $Dominate the AI chip market. Gaudi2, the second-generation AI processor of Habana Labs under Intel Corp, is twice as fast as the previous Habana Labs chip and is made by Taiwan Semiconductor Manufacturing Co Ltd's 7-nanometer process instead of the previous 16-nanometer process.

• Netflix Inc launched a low-cost subscription model with advertisements in advance.

People familiar with the matter said Tuesday that streaming service providers$Netflix Inc (NFLX.US) $Employees have been informed that they plan to launch a low-cost subscription model with advertising by the end of this year. In addition, Netflix Inc will also begin to crack down on password sharing among users. Netflix Inc's stagnant number of users has caused its share price to plummet, down more than 70 per cent so far this year. A low-cost subscription model with ads can help attract and retain price-sensitive consumers, and similar services from competitors HBO Max and Walt Disney Company + have been successful.

• Apple Inc announced that it will stop production of iPod touch

$Apple Inc (AAPL.US) $It was announced on Tuesday that it would stop production of the iPod touch, the last model of the portable music player that the company is still selling. The announcement ends the digital music era that Apple Inc started when it first launched iPod in 2001.

• EA will end its video game partnership with FIFA with revenue of US $1.825 billion in the fourth quarter and a year-on-year increase in net profit of 196%.

Electronic Arts (EA.US) $Today announced the company's fourth quarter and full-year results of fiscal 2022. According to the report, EA's total net revenue in the fourth quarter was $1.825 billion, up 36% from $1.346 billion in the same period last year; excluding general accounting standards, net bookings (net bookings) were $1.751 billion, compared with $1.49 billion in the same period last year; and net profit was $225 million, up 19% from $76 million in the same period last year. Earlier, the company announced that its cooperation agreement with FIFA had expired and that its football game would be renamed "EA Sports FC" from 2023.

• No more epidemic dividends? For the second consecutive quarter, the profit of Roblox, the first share of Yuan Universe, fell below expectations, falling by more than 11% at one point in after hours.

Affected by the economic recovery in the post-epidemic era and the lifting of the blockade, sandboxie's first-quarter results released by $Roblox (RBLX.US) $2022 continued to cool the meta-universe concept: the first-quarter camp recorded $537.1 million, with an adjusted EBITDA of $67.9 million, both below analysts' expectations. First-quarter bookings were $631.2 million, down 3 per cent from a year earlier; the number of daily active users (DAU) was 54.1 million, up 28 per cent from a year earlier; the number of hours users participated in games was 11.8 billion hours, up 22 per cent year-on-year; and the average number of daily active users (ABPDAU) was $11.67, slightly higher than analysts' expectations of $11.65, but down 25 per cent from a year earlier.

• Taiwan Semiconductor Manufacturing Co Ltd informs customers that prices will rise by 6% next year.

Wafer generation factory$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $Inform customers that from January next year, wafer foundry prices will be raised comprehensively, an increase of 6%. Some Taiwan Semiconductor Manufacturing Co Ltd customers have confirmed that they have received notice of price increase.

Yesterday's turnover of US stocks TOP20

The Prospect of Hong Kong City

• $Li Auto Inc.-W (02015.HK) $Revenue in the first quarter increased by 167.5% to 9.56 billion yuan compared with the same period last year, and delivery is expected to be 21000-24000 vehicles in the second quarter.

Li Auto Inc.-W disclosed its unaudited financial results for the quarter ended March 31, 2022. In the first quarter of 2022, total revenue was 9.56 billion yuan, an increase of 167.5 percent over the same period last year and a decrease of 10.0 percent from the previous year, of which vehicle sales revenue was 9.31 billion yuan, an increase of 168.7 percent over the same period last year and a decrease of 10.3 percent. In the second quarter of 2022, the company expects vehicle delivery of 21000 to 24000 vehicles, an increase of 19.5% to 36.6% over the second quarter of 2021, and total revenue of 6.16 billion yuan to 7.04 billion yuan, an increase of 22.3% to 39.8% over the second quarter of 2021.

• $AAC Technologies Holdings Inc. (02018.HK) $Chengrui Optics introduces new strategic investors

AAC Technologies Holdings Inc. announced that on May 10, 2022, the seller (one of the strategic investors in Chengrui Optics) entered into a share transfer agreement relating to the transfer of a total of 0.5488%, 0.1098%, 0.1646% and 0.7133% of the issued shares of Chengrui Optical to Changzhou Xinbei, Changzhou Changgaoxin, Nanning Canton and AAC Hong Kong respectively. Upon completion, the seller will remain a strategic investor in Chengrui Optical, holding a total of 0.5488% of the issued shares of Chengrui Optics.

• China China Eastern Airlines Corp Ltd (00670.HK) $The proposed non-public offering of A shares will raise no more than 15 billion yuan.

China China Eastern Airlines Corp Ltd shares announced that on May 10, 2022, the board of directors considered and passed the proposal for a non-public offering of A shares. Accordingly, the company will issue no more than 5.662 billion A-shares to no more than 35 (including 35) specific investors who meet the requirements of the CSRC, including the company's controlling shareholder, China Eastern Airlines Group. It is expected that the funds raised (before deducting the related issuance expenses) will not exceed RMB 15 billion. After deducting the related issuance expenses, the net funds raised from the non-public offering of A shares will be used for the introduction of 38 aircraft projects and supplementary liquidity.

Focus today

Key words: China April CPI/PPI; US April CPI, EIA crude oil inventory; Western oil financial report

On Wednesday, in terms of economic dataChina's April CPI/PPI, US April CPI and other important economic data will be released.

Against a backdrop of market eagerness for "inflation to peak", any surprise in the inflation data will trigger another round of market exodus. At present, economists estimate that the month-on-month growth rate is only about 0.2%, but in terms of the annual rate data most commonly used in media reports, the April data is likely to decline relatively. The main reason is that the starting point of this round of inflation in the United States is last April.

Financial reportTo obtain Buffett's continuous increase in positions.$Western Oil (OXY.US) $Meta-universe concept stock$Roblox (RBLX.US) $And so on the company will release the results.

Western Oil:According to Bloomberg analysts, Q1 Western Oil's revenue in 2022 is $8.216 billion; adjusted net profit is $1.991 billion; adjusted earnings per share is $2.049.

In terms of new shares$Yunkang Group (02325.HK) $The application for new shares is over.

Yunkang Group is a medical operational service provider that provides a full range of diagnostic testing services for medical institutions. According to Frost Sullivan, the market share in China's medical operational services market is 3.7% by revenue in 2020.

Niuniu morning reading:

Be sure to know what you can do and what you can't. When probability is not on my side, I never gamble.

-- Charlie Munger