Global stock market
The world's major stock indexes were mixed on Thursday, boosted by US third-quarter GDP and initial applications data, all three major US stock indexes closed higher, with the S & P 500s and Nasdaq up more than 1 per cent. Weilai surged 16%, and its share price hit an all-time high. Apple tumbled 5 per cent in after-hours trading, dragged down by weaker-than-expected iPhone sales.
Data released by the US Commerce Department on Thursday local time showed that GDP rose 7.4 per cent month-on-quarter in the third quarter (the initial annualised quarterly rate was 33.1 per cent), slightly better than market expectations, rising at an all-time high, but still shrinking 2.9 per cent from a year earlier. Meanwhile, initial jobless claims fell for the second consecutive week last week to the lowest level since March. But the epidemic still overshadowed the prospects for economic recovery, with the average number of daily infections in the United States hitting an all-time high again on Wednesday, setting a new record for the fourth day in a row.
Paul Ashworth (Paul Ashworth), chief US economist at Capital Economics, said: "overall, after the first wave of blockades were lifted, the initial recovery of GDP was stronger than we initially expected. However, with a record number of infections in recent days and no fiscal stimulus until the beginning of next year, the economic recovery will be much slower in the future. "
Commodity market
A stronger dollar weighed on gold prices, and gold futures closed down for the second consecutive day on Thursday, hitting their lowest closing price in a month. The December gold futures price, which is the most actively traded on the New York Mercantile Exchange gold futures market, fell 11.2 US dollars, or 0.6 percent, to close at 1868 US dollars an ounce on the 29th compared with the previous trading day. Silver futures for December delivery rose 0.1 cents, or 0.004%, to close at $23.36 an ounce.
Affected by factors such as the continued deterioration of the epidemic, international oil prices fell more than 3% on Thursday, a five-month low. Light crude for December delivery fell $1.22, or 3.26%, to $36.17 a barrel on the New York Mercantile Exchange, while London Brent for December delivery fell $1.47, or 3.76%, to $37.65 a barrel.
Market news
[Trump: the United States will usher in a "very big" stimulus package after the election]
Trump reiterated on Thursday that the United States will have a "very large" stimulus package, and he hopes the new bailout package will be bigger than that proposed by House Speaker Nancy Pelosi. Trump said he would implement a massive stimulus package as soon as possible after the election. He will continue to help airlines and consider another round of (PPP) negotiations on the pay guarantee plan.
[U.S. GDP growth in the third quarter hit an all-time high and still shrank 2.9% from a year earlier]
Data released by the US Commerce Department on Thursday local time showed that GDP rose 7.4 per cent month-on-quarter in the third quarter (the initial annualised quarterly rate was 33.1 per cent), slightly better than market expectations, rising at an all-time high, but still shrinking 2.9 per cent from a year earlier. The macro data is good because the epidemic situation in the United States has been greatly reduced, and the current economic uncertainty is still magnifying.
[at a time when novel coronavirus is ravaging Europe, the European Central Bank is almost certain to increase its stimulus policy in December]
At a time when the novel coronavirus epidemic is raging, the ECB's increased stimulus policy is almost certain. European Central Bank President Christine Lagarde said on Thursday that there was "almost no doubt" that a new monetary stimulus package would be agreed in December. "the economic recovery in the eurozone is weakening faster than expected and we agree on the need to take action to realign our tools at our next management committee meeting." The European Central Bank stood still on Thursday, leaving three major interest rates unchanged and keeping (PEPP), its emergency bond-buying program in response to the novel coronavirus epidemic, unchanged at 1.35 trillion yen.
[Wells Fargo Securities warns that Wall Street will usher in a "quite terrible period")
Michael Schumacher, head of macro strategy at Wells Fargo Securities (Wells Fargo Securities), warned investors that Wednesday's sharp market turmoil could be a rehearsal for a bad future. "when you think about the deterioration of the novel coronavirus epidemic, the US election and all kinds of other negative news in the next few weeks, this can be a pretty scary time."
[the International Monetary Fund downgraded the UK's economic growth]
The (IMF) of the International Monetary Fund predicted on Thursday that UK GDP would plunge 10.4 per cent in 2020, up from 9.8 per cent at the beginning of October. According to the analysis of the IMF research report, due to the impact of the second wave of the epidemic, the UK continues to experience low employment and low productivity, with economic growth falling from the original estimate of 5.9 per cent to 5.7 per cent in 2021, while uncertainty at the end of the Brexit transition period will make the UK economy even worse.
[fourth quarter iPhone sales performance "dazzling" Apple and supplier share prices fell collectively)
After US Eastern time on Thursday, Apple reported results for the fourth quarter of fiscal 2020. Although revenue profits exceeded expectations, iPhone sales fell 20.7% year-on-year, falling below market expectations. In addition, Apple failed to provide guidance for the first quarter of fiscal 2021. Apple fell 5% after the trade, and the share prices of suppliers such as Qualcomm and TSMC also fell collectively. It is worth noting that while the home trend pushed Mac and iPad sales higher than expected, iPhone sales fell short of expectations, with iPhone sales of $26.44 billion in the fourth quarter, compared with $33.362 billion in the same period last year and an expected $27.93 billion.
[Amazon reported higher-than-expected net profit in three quarters by 19.7% compared with the same period last year]
Amazon reported after-hours results on Thursday that its main performance indicators beat expectations, earning $12.37 per share in the third quarter, compared with $4.23 a year earlier, with market expectations of $7.17. third-quarter net sales were $96.1 billion, up 37% from a year earlier. Analysts expected $92.71 billion; third-quarter net profit was $6.331 billion, up 19.7% from $2.134 billion in the same period last year. In addition, Amazon expects fourth-quarter net sales of $1120 to $121 billion, while analysts expect $112.47 billion. Amazon fell slightly in after-hours trading.
[Google reported higher-than-expected net profit for three quarters up 59% from a year earlier]
Alphabet, Google's parent company, reported after-hours results Thursday that third-quarter EPS was $16.40, compared with $10.12 a year earlier, with market expectations of $11.42; total revenue was $46.173 billion, up 14% from $40.499 billion in the same period last year; and third-quarter net profit was $11.247 billion, up 59% from $7.068 billion in the same period last year. Google is up nearly 10% in after-hours trading.
[Facebook reported a better-than-expected decline in users in the United States and Canada in three quarters]
On Thursday, Facebook reported better-than-expected third-quarter revenue of $21.221 billion, up 22% from $17.383 billion in the same period last year, and net profit of $7.846 billion, up 29% from $6.091 billion in the same period last year. The number of daily active users reached 1.82 billion in the third quarter, up 12% from the same period last year; the number of monthly active users reached 2.74 billion in the third quarter, up 12% from the same period last year. But there has been a decline in Facebook users in the United States and Canada. Facebook fell slightly in after-hours trading.
[Netflix raises the price of US subscription package]
On Thursday, local time, streaming giant Netflix raised the price of U.S. standard and premium subscription packages to $13.99 and $17.99 per month, respectively, compared with previous prices of $12.99 and $15.00, respectively. The price of the entry-level basic package remains unchanged at $7.99 per month. Netflix closed up more than 3% on Thursday.
[ExxonMobil will cut 14000 jobs worldwide in the next two years]
ExxonMobil said on Thursday that it would cut 15 per cent of its workforce worldwide over the next two years, affecting about 14000 people, including employees and contractors. The job cuts will include 1900 US jobs, previously announced layoffs and retirement plans in Europe and Australia, and future layoffs in Canada and elsewhere.
[the number of cars produced by Xilai has exceeded 5000 for the first time in a single month]
On the 29th, Weilai this month's 5000th vehicle mass production line in Hefei advanced manufacturing base, this is the first time that the production line of Weilai production vehicles has exceeded 5000 units in a single month. The news helped Lulai close 16.21% higher on Friday, with its share price at an all-time high. In addition, ideal car closed up 10.33% on Thursday, while Xiaopeng closed up 8.94%.
