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Every morning, Newsletter will provide the latest financial and financial highlights of the day and the previous day's market review, so stay tuned.
The world's major financial news US initial to 9-week low
According to data from the US Department of Labor, the number of unemployed people in the first week of July 15 decreased by 15,000 to 233,000 compared with the previous week's 248,000, which was the lowest in 9 weeks, and was lower than the 300,000 mark for 124 consecutive weeks. The longest since 1970. According to the specific data, the number of jobless claims for the first week of July 15 was 233,000, the lowest since the week of May 14. The expected value was 245,000, and the previous value was raised from 247,000 to 248,000. On July 8th, The number of weekly jobless claims was 1.977 million, which is expected to be 1.95 million, and the previous value was 1.945 million. The average weekly demand for unemployment benefits from the United States to July 15 was 243,750, with an expected value of 245,750 and a previous value of 245,750.
The European Central Bank continues to follow the expectations
The European Central Bank announced the July interest rate decision, maintaining the main refinancing rate of 0, the overnight loan rate of 0.25%, the overnight deposit rate of -0.4% unchanged, and the monthly bond purchases remained at 60 billion euros, in line with expectations. The European Central Bank said that the monthly €60 billion Net Asset Purchase Program (QE) will continue until December 2017 or beyond if necessary. It is expected that interest rates will remain at current levels for a long period of time, far exceeding the QE implementation deadline. QE will continue to be implemented until the inflation path is in a sustainable adjustment. If the outlook deteriorates, the QE scale and duration can be increased.
US technology stocks return to the Internet bubble peak, Bank of America Merrill Lynch said it is no longer sought after
The strength of US technology stocks remains the same, except for the Nasdaq Composite Index, which hit a new high. The S&P 500 Technology Index has risen for the ninth consecutive trading day, surpassing the historical high of 988.49 on March 27, 2000. Investors are seen as an important milestone for US technology stocks. It is reported that the S&P 500 Technology Index measures the stock price performance of large US technology companies. After the dot-com bubble burst in 2000, technology stocks fell all the way, and the S&P 500 Technology Index once fell more than 80% from its peak. According to Merrill Lynch's survey, Nasdaq has been called "the most crowded deal" by global fund managers in the past three months. 68% of fund managers believe that global Internet stocks are “expensive.†12% of fund managers believe that Internet stocks are in a “bubbleâ€.
Bills become the biggest obstacle to the Brexit negotiations, the French finance minister insisted on asking for money
France insists that Britain pay up to 100 billion euros of Brexit bills, highlighting the obstacles that the Brexit negotiations are expected to make substantive progress. With the second round of negotiations in Brussels, French Finance Minister Bruno Le Maire expressed a tough stance at a hearing in the French parliament on Wednesday night, arguing that Britain owed the EU to its responsibilities and obligations.
Traders warn: next week's FOMC meeting may surprise the interest rate hike
The FOMC will hold an interest rate policy meeting next Wednesday. It is widely expected that there will be no interest rate hikes at this meeting because President Trump will testify to Congress. However, some traders warned that they should not relax their vigilance and the Fed may "sneak" interest rate hikes. Former foreign exchange trader Richard Breslow said that the Fed "will, may, should" raise interest rates next week, but the market believes it will not. He pointed out that if the Fed is really worried about the valuation of US stocks is too high, then dragging the rate hike time to the summer is the worst thing.
Expansion of Trump's investigation to commercial transactions
According to market news, US Special Prosecutor Mueller will expand Trump's investigation into commercial transactions and will investigate the trading activities of Trump, Kushner and Manafort. As early as May, the US Department of Justice urgently appointed Special Prosecutor Miller to investigate the "Tongmen Gate" incident of President Trump's campaign team and whether the President himself interfered in the administration of justice. The Special Prosecutor is responsible for investigating and prosecuting the President in the US judicial system. Or a special position in a government-related high-ranking criminal case. In general, if the investigation by a federal prosecutor constitutes a conflict of interest or the appointment of a special prosecutor is more in the public interest, the Minister of Justice may appoint a special prosecutor to avoid government intervention.
The world's top 500 list released Wal-Mart for the fourth consecutive year
Fortune Magazine released the world's top 500 list yesterday. According to revenue, Wal-Mart ranked first for four consecutive years. In 2016, its operating income reached US$485.87 billion, up 0.8% year-on-year. The other two of the first three camps were Chinese companies – State Grid and Sinopec. PetroChina and Toyota are ranked fourth and fifth. The only new entry into the top ten camp is the insurance and investment group Berkshire Hathaway, which Warren Buffett is in charge of.
Important domestic financial news
Securities Times Front Page: Listed companies can not stop and stop
The Securities Times issued a statement on the front page today that recently, as the stock price volatility increased, the number of listed companies that had been suspended was also increased. Some reasons for suspension are sufficient, while others are ambiguous. It is inevitable that there will be arbitrary suspension of trading and arbitrary suspension. To completely kill the listed company's "want to stop and stop" style, it is necessary to exert force in daily supervision. On the one hand, the exchange should strengthen the review of the report on the application for suspension of listed companies, and regularly check the consistency of the progress of the project in the suspension process with the initial report. For those suspending companies with obvious fraud and large discrepancies, they are found. The card will be forced to resume trading and the corresponding penalty will be given. On the other hand, for listed companies that abuse the right to suspend trading, information disclosure is untrue, inaccurate, incomplete and violates relevant public commitments, the exchange may take regulatory measures or disciplinary action. If the circumstances are serious, the exchange shall promptly submit to the securities supervision. The meeting and its dispatched agencies will verify and deal with it seriously. At the same time, an investor compensation mechanism will be established to compensate investors for losses caused by excessive suspension.
Yao Gang, member of the former party committee of the China Securities Regulatory Commission, was dismissed from the party and public office for serious violation of discipline.
The Central Commission for Discipline Inspection announced that a few days ago, with the approval of the Central Committee of the Communist Party of China, the CPC Central Commission for Discipline Inspection of the CPC had conducted a case review of the serious violation of discipline by the former party committee member and vice chairman Yao Gang of the China Securities Regulatory Commission. After investigation, Yao Gang seriously violated political discipline and political rules. In order to engage in political clash, he used his power to provide assistance to others and enterprises, to confront organizational review; to violate organizational discipline, not to report personal matters in accordance with regulations; to violate integrity discipline and life discipline. Abuse of power to seek benefits for others and accept huge amounts of property, suspected of accepting bribes. Destroying the capital market order and the political ecology of the securities regulatory authorities, seriously violating the party's discipline, and suspected of violating the law, the nature is bad, and the circumstances are serious. Decided to give Yao Gang expulsion from the party; the Ministry of Supervision reported to the State Council for approval, dismissed from public office; collected his disciplinary income; and transferred his suspected crimes, clues and the money involved to the judicial authorities.
Sun Chunlan: Opposing private enterprises to blindly profit from arbitrage and capital flight, etc.
On July 20, commissioned by the Central Committee of the Communist Party of China, Sun Chunlan, member of the Political Bureau of the CPC Central Committee and director of the Central United Front Work Department, informed the outside party about the spirit of the National Financial Work Conference. Sun Chunlan hopes that the members of the united fronts, including the democratic parties, the Federation of Industry and Commerce, and non-party members, will implement the spirit of the National Financial Work Conference as an important part of the overall situation of the service, focus on safeguarding national financial security, guide private financial institutions to improve corporate governance structure, and improve risk internal control. The mechanism, consciously operating according to the law, opposes the behavior of disturbing the financial order, such as blind profit-seeking and capital flight, and allocates more financial resources to the service of “One Belt and One Road†construction, precise poverty alleviation and innovation and entrepreneurship to jointly maintain healthy and stable Financial market order.
CCTV Finance: Dozens of companies suspend trading to “hide disasters†Small and medium-sized investors become “sinful lambsâ€
Recently, dozens of companies have suspended their licenses. A lot of the situation is that the stock price is facing a decline. The company has stopped to avoid this situation. From a market development point of view, like music Watch 300104, shares of listed companies attending such casual avoid short-term suspension, although the company's share price fell, but for many institutional investors and ordinary investors in addition to major shareholders who has brought more Big financial risks. Large stocks in the transaction can provide pricing for a variety of dynamic events. This is the basic function of the stock, but once the suspension is suspended, the major shareholder may delay the crisis but the small and medium investors become scapegoats and completely lose the option to buy or The opportunity to sell.
Lu Jin responded to market rumors that all current business management is normal
In response to market rumors, Lu Jin issued a response saying that Lu Jin, as China's leading online wealth management platform, has always adhered to strict risk management. No customer has suffered losses since its establishment six years ago. At present, Lu Jin’s management and management are all normal, and the legitimate rights and interests of investors will not be affected.
Global market news and closing prices
The market suspects that the decline in US crude oil inventories has fallen to nearly 1%.
On Thursday (July 20), although oil prices rose sharply after boosting US bullish inventory data, the market believes that this reduction in crude oil inventories is difficult to sustain, and the US judicial section has further cracked down on the investigation of President Trump. Risk assets, international oil prices failed to hold the early gains, and fell nearly 1% after the close. Oil prices fluctuated within the day, and the market’s worries about the global oil supply surplus put pressure on oil prices. In early trading, Brent crude oil rose above $50 a barrel, the first time since June 7. At the close, US crude oil fell 0.33 US dollars to 46.79 US dollars per barrel. Brent crude oil closed at $49.30 a barrel, down $0.40, or 0.8%.
ECB President Draghi speaks to suppress dollar gold price to hit a three-week high
Gold prices rose to a three-week high on Thursday (July 20) after European Central Bank President Mario Draghi said policymakers will discuss possible adjustments to the bond purchase plan in the fall to push the euro to a 14-month high. Draghi said that policymakers unanimously agreed not to adjust monetary policy guidelines and did not set a specific date for discussing the adjustment stimulus plan. However, he hinted that the issue of reducing the bond purchase plan will be discussed further later this year. This is enough to stimulate the euro to rebound in early trading, while the US dollar index fell to the lowest in 11 months, which boosted the price of gold. At the end of New York, spot gold rose 0.4% to $1244.92 per ounce, rising to a maximum of $1247.48 since June 30. US August gold futures closed up 0.3% at $1,245.50 an ounce.
Shanghai Gold Exchange gold T+D night plate closed up 0.28% to 272.17 yuan / gram; Shanghai Gold Exchange silver T + D night plate closed up 0.72%, reported 3789.00 yuan / kg.
Foreign exchange
Global foreign exchange closing overview US stocks
The S&P 500 index closed up 0.12 points to 2474.01 points
The Nasdaq index closed up 0.08% at 6390.00 points
Dow Jones index closed down 0.13% at 21,611.78
A share
China's Shanghai Composite Index closed up 0.43% at 3244.86 points
China's Shenzhen Component Index closed up 0.69% at 10366.98 points
China's Shanghai and Shenzhen 300 Index closed up 0.49% at 3,778.88 points
China's GEM index closed up 0.23% at 1680.61 points
European stocks
Germany's DAX index closed down 0.09% at 12441.00
The UK's FTSE 100 index closed up 0.78% at 7488.75
France's CAC40 index closed down 0.43% to 5,193.50 points
Spain's IBEX35 index closed down 0.33% at 10,553.00
Italy's FTSE index closed down 0.17% at 21441.50 points
Focus on the day
11:30 Reserve Bank of Australia to help Chairman Brock speaks
16:00 The CSRC will hold a regular press conference
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