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As of press time, the Dow futures, dominated by blue-chip stocks, rose 0.24%; the S&P 500 futures rose 0.25%; the Nasdaq 100 futures, dominated by technology stocks, rose 0.29%. Popular Chinese concept stocks rose before the market opened. European stock markets rose. As of press time, Germany’s DAX index fell 0.08%; France’s CAC40 index rose 0.39%; Britain’s FTSE 100 index rose 0.14%. In terms of commodity foreign exchange, as of press time, Brent crude oil fell 1.10% to US$86.33 per barrel. European Automobile Manufacturers Association: EU car sales hit biggest decline in 16 months in March The European Automobile Manufacturers Association said that EU car sales suffered the largest decline in 16 months in March, and Tesla‘s new car registrations in the EU fell by 30% in March. Registrations of pure electric vehicles in the EU fell by 11% to 134,400 in March; the EU’s pure electric vehicle market share fell to 13% from 14% in the same period last year. Swiss gold exports fell 6.9% month-on-month in March Swiss gold exports fell 6.9% month-on-month in March. TSMC’s Q1 net…

U.S. stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious U.S. Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings. Benchmark U.S. Treasury yields and the dollar eased back from multi-month highs, while gold backed down from its all-time high.   All three major U.S. stock indexes ended the session in the red, with the tech shares dragging the Nasdaq down 1.15%. “April has been a little disappointing for investors, but remember stocks have gained the past five months, some kind of pause or break would be perfectly normal, and we very well could be seeing that right now,” said Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska. U.S. Federal Reserve Chair Jerome Powell declined to provide guidance on Tuesday regarding the timing and extent of expected interest rate cuts, but said policy needs to be restrictive for longer, dimming hopes for rate cuts this year. “The realization that Powell is pushing back on when the interest rate cuts might start has added to the overall confusion, solidifying the assumption that…

HONG KONG (Reuters) –Morgan Stanley is cutting at least 50 investment banking jobs in Asia Pacific, three sources said, becoming the latest among global banks to scale back operations in the region mainly due to a slump in China markets. The layoffs affect around 13% of the Wall Street bank’s Asia investment banking workforce of 400 in the region, according to one of the sources. Bankers based in Hong Kong and mainland China are going to be affected the most, they said. All of the sources declined to be named as they were not authorised to speak to media. A Morgan Stanley spokesperson declined to comment. Bloomberg first reported the job cuts on Wednesday. The cuts are one the largest to its China-focused investment banking team and follow similar measures by other banks also stung by decline in deal making activities in China amid a slowing economy. In January, Bank of America laid off around 20 bankers in the region, following a flurry of investment bank downsizing by UBS, Citigroup and other boutique firms. Morgan Stanley on Tuesday reported a…

BofA Securities last week lowered its target price on Intel (36.0801, 0.39, 1.09%) shares to $44 from the previous price of $50 per share, while maintaining a neutral rating on the stock. Prior to this target price adjustment, Intel conducted a re-segmentation of its business, which resulted in a change in the valuation method of the company’s IDM (vertical integration from chip design to production) business, including products and foundry services. . A report from Bank of America Securities pointed out that Intel’s future depends largely on CEO Pat Gelsinger’s vision to transform the chip company into a semiconductor foundry and compete with other companies in the industry. However, Bank of America analysts commented on Intel’s current situation that although Intel’s foundry business has made some achievements in external design, it still relies heavily on the company’s internal design team. This dependence has prompted the valuation of the IDM business to shift to a comprehensive assessment. approach rather than evaluating each part individually. Therefore, the new price target set by Bank of America this time is 23 times the expected…

After a period of excessive complacency and risk “addiction”, the global market encountered another escalation of the situation in the Middle East when expectations of interest rate cuts by the Federal Reserve dropped again and again. At a time when investors are already uneasy about sticky inflation in the United States and the Federal Reserve’s continued high interest rates, the escalation of the situation in the Middle East at the end of last week has undoubtedly injected new potential volatility factors into the market. Previously, when the Palestinian-Israeli conflict spilled over to the Red Sea, many market participants told China Business News that they were not worried about the impact of the Red Sea crisis on global markets, inflation and transportation for the time being, but the variable was whether Iran would be involved. And then spread to the Strait of Hormuz. Therefore, after the crisis escalated, market risk aversion immediately soared. However, what has slightly eased investors’ nervousness is that U.S. President Biden has made it clear to Israeli Prime Minister Netanyahu that the United States does not support…

JPMorgan Chase & Co. strategists say don’t expect an upbeat corporate earnings season to drive stocks higher because much of the optimism has already been priced in after this year’s record gains. A research team led by Mislav Matejka wrote in a report that profit expectations for the first quarter have been lowered during the reporting period, which lowers the threshold for U.S. companies to exceed expectations. Strategists said that after excluding technology giants, S&P 500 companies’ profits are expected to decline across the board. At the same time, investor positions look “very stretched,” Matejka said, with major stock indexes hitting record highs on optimism about economic growth and interest rate cuts. He said: “The stock market has performed well post-earnings, suggesting investors are more optimistic than the pessimistic earnings forecasts conveyed by sell-side analysts. We need to see significant earnings acceleration to justify current stock valuations “It’s reasonable and we’re concerned that this may not happen.” Matejka said that so far, half of U.S. companies have performed below market expectations on the day of earnings reports. Despite a 10%…

U.S. stock futures climbed ahead of the opening bell on Monday as global markets calmed and traders speculated that diplomatic efforts would help prevent an escalation in the conflict between Iran and Israel. The dollar and U.S. Treasuries fell, while gold remained strong near $2,350. As of press time, Dow futures were up 0.5%, S&P 500 futures were up 0.6%, and Nasdaq futures were up 0.6%. The German DAX index rose 1.1%, the British FTSE 100 index fell 0.3%, the French CAC 40 index rose 1.0%, and the European Stoxx 50 index rose 1.1%. U.S. Treasuries fell along with the dollar. U.S. WTI crude oil fell below $85 a barrel. Gold prices are hovering at $2,350. Investor nerves remained high over the prospect of Israeli retaliation against Iran, but investors took some comfort when Iran’s mission to the United Nations said the issue “can be considered closed.” The United States and other countries have also called on all parties to exercise restraint and strive to avoid the outbreak of a full-scale regional war. According to officials familiar with the development,…

Glonghui, April 15 | US hedge fund Shah Capital has recommended that Covid-19 vaccine maker Novavax appoint two new independent directors, Suresh Katta and Venkat Peri, to its board. Shah Capital, which owns about 6.7% of Novavax’s outstanding common stock, said the low share price reflected the board and management’s failure to capitalize on many important competitive advantages and seize opportunities in the overall market. “We welcome the views of our shareholders and value their input on our strategy,” Novavax said in a statement. Novavax is one of the most shorted stocks on the Nasdaq (16175.0941, 0.00, 0.00%) and is currently trading near all-time lows. As of last trading day’s close, the stock had fallen more than 53% in the past 12 months. The stock rose about 3.5% premarket.

The convergence of interest rate cut expectations is rewriting the narrative of global capital markets. Recently, due to the impact of U.S. economic fundamentals such as inflation and employment that exceeded expectations, market expectations for the Federal Reserve to cut interest rates within the year have declined. The “anchor of global asset pricing” has made waves again. The 10-year U.S. Treasury yield recently broke through the 4.5% mark and remains above this point. Some market participants are worried that the “nightmare” of 10-year U.S. bond yields pointing to 5% may strike again. Analysts believe that the current asset prices are more reflected in the correction of front-running transactions in anticipation of interest rate cuts. Looking ahead, interest rate cut expectations may continue to swing driven by data and geopolitics, affecting the trend of U.S. bond yields. Multi-maturity U.S. Treasury yields rise The rapid rise in U.S. bond yields has once again attracted market attention. On April 10, local time, as the U.S. Consumer Price Index (CPI) in March exceeded expectations across the board, the market was worried about the prospect…

In March, U.S. stocks continued to perform strongly. Exchange-traded funds (ETFs) continued to be favored by investors, with large capital inflows, while technology ETFs experienced net outflows. Data show that in March, global investors invested US$126.5 billion in ETF products in the US market. This data is second only to the last two months of 2023 and the third highest monthly inflow since 2021. In this round of buying boom, stock ETFs took over US$96.6 billion, showing that investors still have a relatively positive attitude towards US stocks. In terms of themes, industrial stock ETFs are the most popular, with net inflows of US$1.4 billion. This is the strongest performance of industrial themed stock ETFs since July 2023; raw materials and energy industry ETFs have a net inflow of US$1.3 billion and US$600 million respectively. Net inflows followed closely, and these are industries that are highly cyclical and highly dependent on economic performance. The capital movement in March sent an important signal. Technology ETFs experienced a net outflow of US$600 million, which was the first net outflow since June last…