With the latest US inflation data released last night, US stocks returned to the state of concern about interest rates and worry about inflation overnight, and the three major indexes collectively weakened.
Adding to the worries, the US Treasury's $20bn auction of 30-year bonds in the early hours of this morning received a cold welcome, with a price cut of 3.7 basis points, more than double that of previous auctions. Combined with this week's weak performance at auctions of three - and 10-year notes, it shows continued weakness on the demand side as the US ramps up debt issuance.
As on Thursday, a group of Wall Street giants will report before the market opens this evening, with losses provisions, net interest margins and large "unrealized losses" on bond holdings all being closely watched.
On the commodities front, European natural gas futures are back on their own, with the Israeli-Palestinian conflict and damaged pipelines in Finland still behind the story. After the release of the latest USDA production report, a number of agricultural futures rose, considering the continued decline this year, it is not clear whether today's trend is a rebound or a reversal. In addition, there are market rumors this morning that India is considering restricting the export of white sugar, but the specific situation is still subject to official announcement.
Market news
[The Palestinian-Israeli conflict has killed more than 2,800 people on both sides, Britain also sent warships "fire"]
More than 2,800 people have been killed so far in the current round of Israeli-Palestinian conflict, CCTV News reported Friday morning. Among them, 1,572 Palestinians were killed and about 7,200 wounded; According to Israeli media reports, at least 1,300 people have been killed and 3,297 injured in Israel.
In addition, on October 12 local time, the British Prime Minister's Office announced that the United Kingdom will deploy military forces such as reconnaissance aircraft and two Royal Navy ships to the Eastern Mediterranean near Israel to show support for Israel.
[Wall Street margin lending rules set for historic moment]
This evening, Beijing time, the US SEC will vote on a proposal to amend the rules for margin trading credit (" Sunshine Act "). In one of the most discussed aspects of the rule, the SEC requires lenders to file within 15 minutes of each transaction. At the same time, the relevant trading information will be disclosed to the whole market after the buyer and seller information is hidden.
OpenAI's revenue is expected to increase 46 times this year.
According to The US technology media The Information, citing a number of people familiar with the matter, OpenAI's CEO Altman told the company's employees this week that revenue is expected to reach $1.3 billion this year. It is worth mentioning that in August this year, he gave a revenue forecast of $1 billion. For comparison, OpenAI's full-year revenue last year was just $28 million, nearly one-46th of the latest estimate.
[US media: TSMC's business in the mainland was granted another "one-year exemption" in the United States]
According to people familiar with the US government's move, TSMC will again be granted a one-year exemption, as it was in 2022. Washington has told TSMC it can maintain operations on the mainland for the foreseeable future as long as no major technology upgrades are made.
[TSMC's "Japan Plant No. 2" specifications surfaced]
According to local media reports late Thursday night, TSMC's second plant in Japan will continue to be located in Kumamoto, and the investment scale is expected to reach 2 trillion yen, and Japan's Ministry of Economy, trade and Industry is considering providing subsidies of nearly 900 billion yen. Construction work is expected to begin next summer, with mass production expected in 2027. In terms of process parameters, the second plant in Japan will produce chips with a 6/12nm process and a planned capacity of 60,000 pieces/month.
Tesla announces wage increase plan for German factory
Amid accusations from German unions that the company's pay is below the industry average, Tesla announced on Thursday that it would offer pay increases to workers at its Berlin factory. Tesla said it would inform workers of the exact increase in November, noting that the factory raised wages by 6 percent last year. Germany's IG Metall trade union has previously accused Tesla of paying 20 percent less than its German counterparts.
Tesla's German factory currently employs nearly 11,000 workers, and intends to further double battery and electric vehicle production capacity next year.
Qualcomm announces 1,258 job cuts in California
Integrated Media and California Department of Labor data show that chip giant Qualcomm has cut a total of 1,258 jobs at its offices in San Diego and Santa Clara. In response to a media interview, a Qualcomm spokesperson did not confirm the numbers, but said that this is part of the macroeconomic and demand environment "continued uncertainty", the company has talked about this (layoffs) in August conference call.
[Ford Motor Shout: has reached the limit of the offer]
After the United Auto Workers union announced a surprise strike at Ford Motor's largest plant on Wednesday, the US auto giant said on Thursday that its current offer of a 23 percent wage increase had reached the "economic limits." Kumar Galhotra, head of Ford's internal combustion engine business, said at a briefing on Thursday that the company has reached its limits and going any higher would hurt our ability to invest in the business.