1. U.S. Treasury Secretary Yellen will visit China
2. Fed official Mester: Hope to see more data proving that inflation is slowing before cutting interest rates three times this year
3. U.S. job openings remained stable in February, reflecting continued resilience in the labor market
4. Tesla's first-quarter deliveries fell 8.5% year-on-year and dropped sharply 20% quarter-on-quarter.
5. $12.5 billion! Alibaba’s buyback efforts in fiscal year 2024 are unprecedented

U.S. Treasury Secretary Yellen will visit China

As agreed by China and the United States, U.S. Treasury Secretary Janet Yellen will visit China from April 4 to 9.

Fed official Mester: Hope to see more data proving that inflation is slowing before cutting interest rates three times this year

Cleveland Fed President Loretta Mester said she would like to see more evidence of lower inflation before cutting interest rates, and recent data were generally in line with her expectations of slow progress in the fight against inflation.

Mester has a vote on monetary policy this year. She said that higher-than-expected inflation data this year largely confirms that the path to downward inflation will not be smooth. Mester said she still believes inflation will continue to fall toward the Fed's 2% target, but at a slower pace than last year.

Fed's Daley: Three interest rate cuts in 2024 are reasonable baseline forecast

Fed Daley said there is no urgency to adjust interest rates; the decision made by the FOMC in March was a very good decision; it is necessary to consider how long to keep interest rates at the current level; keeping policy unchanged at the moment is the right decision; three times in 2024 An interest rate cut is a reasonable baseline forecast; if inflation is more stubborn, you may want to reduce interest rates; the economy and monetary policy are in good shape; the economy is still very solid, and the process of falling inflation is bumpy.

U.S. job openings remained stable in February, reflecting continued resilience in the labor market

U.S. job openings in February were basically unchanged from the previous month, indicating that business demand for labor remains strong. The Job Openings and Labor Turnover Survey report released by the U.S. Bureau of Labor Statistics on Tuesday showed that the number of open positions increased slightly to 8.76 million in February, mainly in the financial industry and government sectors. The previous month's data was revised down to 8.75 million, and hiring also increased in February.

The Fed has been hoping to cool the labor market by reducing job openings rather than directly cutting jobs. As long as job vacancies remain high, wages are likely to continue growing and inflation may become stubborn as a result.

Morgan Stanley Slimmon: The Fed’s reduction in interest rate cuts bodes well for U.S. stocks

Andrew Slimmon from Morgan Stanley Investment Management believes that if the Fed cuts interest rates less, it will bode well for the economy and the stock market. In his view, if there is no interest rate cut at all this year, it means that the S&P 500 index constituents are expected to earn between $275 and $280 per share in early 2025. Given that the market will have expectations for these forecasts, it is reasonable for the stock market to rise.

"I think if the economy weakens, they will be forced to cut interest rates," Slimmon added. "This will put pressure on expected earnings for the year ahead."

U.S. WTI crude oil breaks through $85, hitting a six-month high Geopolitical situation pushes up oil prices

The West Texas Intermediate crude oil contract for May delivery on the New York Mercantile Exchange rose $1.44, or 1.72%, to close at $85.15 a barrel. The Brent crude oil futures contract for June delivery on the European Intercontinental Exchange rose $1.53, or 1.75%, to $88.94 a barrel.

Brent crude oil futures have largely traded in a tight range between $75 and $85 a barrel since the start of the year, but heightened geopolitical risks and strong economic data appear to be driving prices higher.

On Tuesday Eastern Time, the three major U.S. stock indexes collectively closed lower as investors weighed the possibility that the Federal Reserve might delay an interest rate cut. The continued rise in U.S. bond yields was also detrimental to U.S. stocks. As of the close, the Dow fell 1.00%, the Nasdaq fell 0.95%, and the S&P 500 fell 0.72%.

Popular technology stocks generally fell, with Tesla falling nearly 5%, Nvidia falling more than 1%, and Microsoft and Apple falling nearly 1%; popular Chinese concept stocks saw mixed gains, with Ctrip rising more than 4% and Bilibili rising more than 3%. %, Xpeng Motors and NIO fell more than 2%, and NetEase fell nearly 2%.

Tesla's first-quarter deliveries fell 8.5% year-on-year and dropped sharply 20% quarter-on-quarter.

Tesla's car production and delivery report for the first quarter of 2024 released on April 2 showed that delivery volume in the first quarter fell 8.5% year-on-year to approximately 386,800 vehicles, and approximately 433,400 vehicles were produced during the same period, both Lower than expected. Among them, 369,783 Model 3/Y vehicles were delivered, a year-on-year decrease of 10%, and an estimated 426,940 vehicles were delivered. Affected by this news, Tesla fell 4.90% overnight, and its market value evaporated by US$27.4 billion (approximately RMB 198.2 billion) overnight.

Intel's wafer foundry business will suffer losses of US$7 billion in 2023, and its stock price fell nearly 4% after hours

On April 2, Intel announced that the company's total revenue will decline from US$57 billion in 2022 to US$47.7 billion in 2023. In terms of segments, the data center and AI segment revenue dropped from US$16.86 billion in 2022 to US$12.64 billion in 2023.

Intel's foundry revenue will drop from $27.5 billion in 2022 to $18.9 billion in 2023. At the same time, the segment's operating losses are also widening, from $5.2 billion in 2022 to $7 billion. As of press time, Intel fell nearly 4% after hours.

$12.5 billion! Alibaba’s buyback efforts are unprecedented

Alibaba announced on the evening of April 2 that in the fiscal year ending March 31, 2024 (i.e. fiscal year 2024), the company has repurchased a total of 1.249 billion ordinary shares (equivalent to 156 million American depositary shares) for US$12.5 billion. ), with the total repurchase amount reaching nearly 100 billion yuan. Nearly 100 billion yuan has been invested in buybacks a year, which means that Alibaba has become the Chinese Internet company with the largest buyback efforts in the past fiscal year.

Lei Jun announced: Xiaomi SU7 $01810.HK will be delivered today!

Xiaomi Group Chairman Lei Jun posted on Weibo that on April 3, the first batch delivery ceremony of Xiaomi SU7 will be held at the Xiaomi Automobile Factory in Yizhuang, Beijing. At the same time, delivery centers in 28 cities across the country will also start delivery simultaneously on April 3.

China Overseas Land & Investment $00688.HK : Affiliated to establish a project company with Shanghai Longhua Construction to invest and develop project sites in Shanghai

Rongchang Biotech $09995.HK : The U.S. Food and Drug Administration’s fast track designation of Tatacept for the treatment of primary Sjögren’s syndrome

Vinda International $03331.HK : At the end of the offer, the offeror and persons acting in concert held 98.68% of the shares

Jiangxi Copper Co., Ltd. $00358.HK spent a total of approximately 69.0996 million yuan to repurchase 3.0319 million A shares

Dongfeng Group $00489.HK : Cumulative vehicle sales from January to March were 522,100 units, a year-on-year increase of approximately 14.8%

Tuhu-W $09690.HK spent HK$20.6677 million to repurchase 1.3377 million shares on April 2

US stock earnings report

Levi's | After Hours

BlackBerry | After Hours

New US stocks

Mobile-health Network Solutions

The above is today’s Washington Morning Post. Welcome to leave a message for discussion. I wish you good luck with your investment!

Risk Warning: Investment involves risks. Securities prices may rise or fall, and may become worthless. Investment may not necessarily earn profits, but may result in losses. Past performance is not indicative of future performance. Before making any investment decision, investors must evaluate their financial situation, investment objectives, experience, risk tolerance and understand the nature and risks of the relevant products. For details on the nature and risks of individual investment products, please read the relevant sales documents for more information. If in any doubt, independent professional advice should be obtained.

.