Global macro

• The futures of the three major US stock indexes fell before Thursday's trading.

The futures of the three major stock indexes in the United States fell generally. As of press time, Dow futures fell 0.46%, Nasdaq futures fell 1.35%, and S & P 500 futures fell 0.71%.

European stocks fell. As of press time, France's CAC40 index fell 2.44%, Europe's Stoxx 50 index fell 2.41%, Germany's DAX30 index fell 2.15%, and Britain's FTSE 100 index fell 2.08%.

• Us PPI rose at an annualised rate of 11% in April from a year earlier, exceeding expectations

Us PPI rose 11 per cent in April from a year earlier, with an expected rise of 10.7 per cent and a previous rise of 11.2 per cent. Us PPI rose 0.5 per cent month-on-month in April and is expected to be 0.5 per cent, with a previous value of 1.4 per cent.

• The number of initial claims for unemployment benefits in the United States in the week ended May 7 was 203000, exceeding expectations

The number of people claiming unemployment benefits for the first time in the United States last week was 203000, compared with an expected 195000, compared with a previous figure of 200000.

• Economic worries are soaring! Global stocks fall, 10-year Treasury yields fall

As markets turned their attention to the global growth risks posed by central bank tightening, global stock markets tumbled and there was buying in US bonds, especially long-term Treasuries, flattening the yield curve. as investors expect short-term interest rate increases to hurt long-term economic growth, the result is likely to slow or even reverse interest rate increases. Benchmark 10-year Treasury yields fell further on Thursday, narrowing the gap between two-year and 10-year yields, which are highly sensitive to higher interest rates.

• Cut the meat today and make the bottom tomorrow! American retail investors are still buying US technology stocks at a bargain.

Recently, the world's largest technology companies have lost more than $1 trillion in market value in three trading days. Stubbornly high u.s. inflation added to concerns on Wednesday, with the technology-heavy Nasdaq composite index down more than 3% and more than 27% for the year. TD Ameritrade, a well-known US brokerage, said that during the recent market turmoil, retail investors continued to buy bargain-hunting, especially in favor of technology stocks such as AMD and NVIDIA Corp.

• Wall Street's biggest bear: s & P could fall to 3350 under pessimistic expectations

Michael Wilson, chief equity strategist at Morgan Stanley, who has long been bearish on US stocks, reiterated in the latest report that the stock market slump is not over yet and that as fears of an economic slowdown intensify, US stocks still have room for further correction. According to his own fair value framework, US stocks are trading at 16 times forward earnings at current levels, with the S & P in a range of 3700 to 3800, while the S & P could fall to 3350 in the second quarter of next year under pessimistic expectations.

• IEA: Russian oil production reduction will not cause "global supply shock"

Even if sanctions-hit Russia reduces oil production, there will be no shortage of oil in the global market, the International Energy Agency (IEA) said on Thursday. It is reported that the agency predicted in March that a decline in Russian production could trigger a "global supply shock", but this view has now changed 180 degrees. IEA also cut its forecast for global oil demand growth this year by another 70, 000 b / d to 99.2 million b / d, and expects global oil demand to increase by 1.8 million b / d in 2022 to an average of 99.4 million b / d, slightly higher than supply.

• Tit for tat, Russia imposed sanctions on European natural gas companies

The website of the Russian Federation government released a new sanctions list on the 11th, involving 31 Gazprom subsidiaries or partners in Europe, the United States and Singapore, including Gazprom's German branch and Poland's Euro-Polish natural gas company, which is responsible for operating part of the "Yamal-Europe" pipeline of Russia's natural gas to eastern Europe in Poland.

Hot news

• Us stock star technology stocks fell before the market.

• Xiaomo Q1 position: significantly increase the S & P 500 put option

JPMorgan Chase & Co submitted its Q1 position report (13F) for the first quarter ended March 31, 2022, according to the Securities and Exchange Commission (SEC). From the perspective of the change of position ratio, the top five buying targets are: ETF put options on the S & P 500 index,$AbbVie Inc (ABBV.US) $, JPMorgan Chase & Co global stock market diversification earnings ETF,Bond Index ETF-Vanguard USA (BND.US) $、$Exxon Mobil Corp (XOM.US) $。

According to statistics, the total market value of Xiaomo's position was $830.275 billion in the first quarter and $865.897 billion in the previous quarter, down 4 per cent from the previous quarter. Xiaomo added 708 shares and increased its holdings by 2751 shares in the first quarter of the year.

• Apple Car, Hon Hai: contact with big car factory and Xinchuang car factory
  

For the OEM.$Apple Inc (AAPL.US) $According to Apple Car, Hon Hai Chairman Liu Yangwei said that he does not comment on a single customer or product, and the manufacturing process of the car is very complex, depending on the customer's product design, what are the requirements for the manufacturing process, and it is difficult for Hon Hai to answer whether it can be completed or not for the products that customers are still thinking about. He also said that Hon Hai had contact with both the existing big car factory and the new car factory.

• Can't stand it after burning tens of billions of dollars? Meta plans to reduce the size of the core department of meta-universe

Facebook Inc parent company$Meta Platforms (FB.US) $On Wednesday, the company said it was preparing to reduce the size of its Reality Labs division. It is understood that Reality Labs developed from Oculus virtual reality business and is currently mainly engaged in augmented reality (AR), smart glasses, Portal video communication equipment and enterprise technology solutions. The division lost $10.2 billion for the whole of 2021. As of press time, Meta was down more than 1% before trading.

• News: Ford shelves plans to produce electric cars in India

There is news that$Ford Motor (F.US) $It has abandoned plans to produce electric cars in India and export them to the global market and may seek to sell its factories in India. It is understood that the company said earlier this year that it was considering producing electric cars in India for export to the global market and domestic sales. As of press time, Ford was down more than 4% before trading.

• Shell to sell retail and lubricant manufacturing operations in Russia to Lukoil

Oil giant$Shell PLC (SHEL.US) $Lukoil, Russia's second-largest oil producer, will acquire Shell's Russian oil products retail and lubricant manufacturing operations, it said on Thursday. Shell Oil is engaged in the retail of petroleum products and the manufacture of lubricants in the Russian market, and its assets include 411 gas stations in Russia's Central Federal District and Northwest Federal District and a lubricant processing plant in Teville.

• Son: the market is not good. The listing time of ARM is expected to be delayed by 3-6 months.

According to reports, due to market conditions,$Softbank Corp. (ADR) (SFTBY.US) $The initial public offering (IPO) of ARM, its semiconductor design company, may be delayed by 3-6 months. Softbank Corp. CEO son said that if the market is not good enough when ARM prepares for IPO, it may continue to wait. Softbank Corp. announced on the 12th the worst annual loss in its 40-year history-17.1 trillion yen, compared with a profit of 5 trillion yen in the same period last year.

• Electric car startup Lordstown rose more than 14% before trading after the deal with Foxconn was completed.

Electric vehicle startups$Lordstown Motors (RIDE.US) $It said it had completed a $230 million deal with Foxconn to sell its Ohio plant to the latter. It is understood that as early as last November, Lordstown announced the deal with Foxconn, but the deal has been delayed twice before. As of press time, Lordstown was up more than 14% before trading.

• Q1 sales soared and losses were much lower than expected, with South Korean e-commerce giant Coupang up more than 11% before trading.

E-commerce giant$Coupang (CPNG.US) $Q1 results released on the 12th local time, the company's sales reached $5.12 billion, up 32% from the same period last year, a record quarterly high; the operating loss was $205.7 million, down 23% from the same period last year; the overall EBITDA deficit was $91 million, down sharply from the deficit of $133 million a year ago; and the diluted loss per share was $0.12, much higher than market expectations of $0.59. As of press time, Coupang was up more than 11% before trading.

• The annual production target of 25000 vehicles was maintained, and Rivian rose by more than 6% before trading.

After the US stock market opened on Wednesday, the electric car company$Rivian Automotive (RIVN.US) $Q1 reported revenue of $95 million for 2022, below market expectations of $131.2 million and a net loss of $1.593 billion, compared with $414 million a year earlier. While current supply chain problems have hampered production growth, Rivian said it accelerated production and sales in the first quarter, putting it on track to meet its production target of 25000 electric vehicles this year. As of press time, Rivian was down 0.24% before trading, after rising more than 6% at one point.

• Q2 revenue is lower than expectedWalt Disney Company fell more than 5% before the session.

$Walt Disney Company (DIS.US) $Revenue in the second quarter rose 23.3% year-on-year to $19.25 billion, below market expectations of $20.025 billion, it said after trading on Wednesday. The total number of subscribers to streaming services increased to 137.7 million, higher than the market forecast of 135 million. As of press time, Walt Disney Company was down more than 5% before trading.

• Q1 performance was lower than expected, and Beyond Meat plummeted by more than 28% before trading.

$Beyond Meat (BYND.US) $Q1 results for 2022, released after Wednesday's US stock market trading, showed that net revenue rose 1.2 per cent year-on-year to $109.5 million, but below market expectations of $112.3 million, and a net loss of $100.5 million, up from a net loss of $27.27 million a year earlier. Under non-GAAP criteria, the adjusted diluted loss per share was $1.58, compared with a widely expected loss of $1.01 per share, compared with a loss of $0.42 per share in the same period last year. As of press time, Beyond Meat was down more than 28% before trading.

• News: us fresh food distribution platform Instacart secretly submitted IPO, with a maximum valuation of US $39 billion

Instacart, the US fresh food distribution platform, has secretly submitted a listing application to the Securities and Exchange Commission (SEC), according to people familiar with the matter. The San Francisco-based startup did not disclose any details about the size and timing of its IPO in its statement. People familiar with the matter said the company was communicating with Goldman Sachs Group and Morgan Stanley on IPO issues.

Instacart reached $39 billion in a financing round in March 2021 because of strong demand for door-to-door delivery services during the outbreak; it was announced in March that it would cut its valuation by nearly 40 per cent to about $24 billion.

Focus on China-listed stocks

• Popular US-listed stocks fell before the market.

• Keep up the pressure! SEC of the United States added 11 more Chinese stocks to the "pre-drawn list".

According to the official website of the Securities and Exchange Commission (SEC), it will include 11 more Chinese stocks to join the "pre-drawn list". The specific names are So-young International Inc, Antelope Enterprise, iClick Interactive Asia Group Limited, Lufax Holding Ltd, Kuke Music Holding Limited, Lightinthebox, Dingdong (Cayman) Limited, Kingsoft Cloud Holdings, DiDi Global Inc., Qutoutiao and CHINA ONLINE EDUCATION GROUP. The above companies are required to provide SEC with evidence that they do not meet the conditions for delisting by May 31, otherwise they will be added to the list.

• Nail job cuts by 30%? Related people: the overall adjustment is less than 10%.

According to Internet sources, nails are laid off by 30% according to the caliber of employees, which may be$BABA (BABA.US) $BU, which has the highest percentage of layoffs so far this year. Nail officials did not comment on the news. According to people close to nailing, there is indeed an organized and optimized action within, but it is very different from the proportion exposed on the social platform. This is not a large number of layoffs, but the company's routine fiscal year performance review replacement and business adjustment, the overall adjustment ratio is less than 10%. As of press time, BABA was down 1.2% before trading.

Pre-market turnover of US stocks TOP20

Reminder of American Macro Calendar

20:30 number of Americans claiming unemployment benefits for the week ended May 7

20:30 number of Americans continuing to claim unemployment benefits in the week ended May 7

20:30 US April PPI annualized rate

20:30 US core PPI annualized rate in April