[US stock index]
On Tuesday, February 18, US Eastern Time, the three major US stock indexes closed higher, among which the S&P 500 index rose 0.24% to 6129.58 points. The Dow Jones index rose 0.02% to 44,556.34 points; Nasdaq index rose 0.07% to 20041.26.
American debt
On February 18th, the benchmark 10-year US bond yield was 4.55%, and the 2-year US bond yield, which is most sensitive to the Fed’s policy interest rate, was 4.29%.
[Hot American stocks]
Among popular US stocks, Apple fell 0.05%, NVIDIA rose 0.40%, Microsoft rose 0.30%, Amazon fell 0.89%, Google C fell 0.57%, Google A fell 0.79%, Meta fell 2.76%, Tesla fell 0.49%, TSMC fell 0.61%, AMD rose 1.04% and Intel rose 16.06.
[global index]
[China index]
On February 18th, the Hang Seng Technology Index futures rose by 2.78% overnight, the Nasdaq China Jinlong Index fell by 1.28%, and the FTSE China A50 Index fell by 0.10%.
[China Stock Exchange]
In terms of popular Chinese stocks, Tencent Holdings (Hong Kong stocks) rose by 2.01%, Alibaba by 1.80%, Pinduoduo by 3.46%, Netease by 1.09%, Ctrip by 3.00%, Baidu by 7.51%, LI by 0.81%, Xpeng Motors by 4.92% and Weilai by 1.69%.
[foreign exchange commodities]
[Global News]
Bank of China survey: Global funds turn to be optimistic about international investors’ confidence in Hong Kong stocks.
The monthly survey of Bank of America Securities shows that the confidence of global funds in the Hong Kong stock market has greatly increased and reached the same level as the Nasdaq Composite Index. Strategist Michael Hartnett and others said in a report on Tuesday that 18% of the respondents predicted that the Hang Seng Index would perform best in the world in 2025 in the February survey, ranking second with Nasdaq. 22% of the respondents chose the EuroStoxx 50 index, ranking first. This is the first time that the HSI has entered the top three since the problem first appeared in November.
The White House clarified Musk’s identity and said that he was not an employee of the Government Efficiency Department.
Although the name Musk almost represents the newly established government efficiency department from the outside world, the White House clarified that Musk does not work for this department. Joshua Fisher, director of the White House Executive Office, said that Musk is a senior adviser to the President, and his authority is no higher than that of other White House spin doctor. (Sina Finance)
Federal Reserve Daley: Policy needs to remain tight.
Federal Reserve Daley said that the policy needs to remain tight until it is seen that sustained progress has been made in inflation. The Fed wants to be cautious before making the next adjustment. Inflation is gradually falling, but the process is relatively volatile. (Cailian)
Federal Reserve Daley: Supervision should help community banks flourish.
Daley, governor of federal reserve bank of san francisco, said that community banks are an important part of the economy, and their supervision should be adapted to their scale and risk level. "Community banks play a vital role in this ecosystem, supporting almost all parts of the United States," Daley said in a speech at the community bankers conference organized by the American Bankers Association in Phoenix. She said that central bank governors are "increasingly" hearing that the regulatory and supervisory framework is not suitable for the scale and risks of community banks. "The goal of supervision is not to eliminate all risks, but to ensure that banks properly manage risks." She said, "With the development of economy, well-thought-out and properly adjusted rules can ensure that banks of all sizes take appropriate risks and continue to flourish." Daley did not comment on interest rates or the economic outlook in his speech. (Sina Finance)
Bank of America survey: US stock market is overvalued
According to the global fund manager survey conducted by Bank of America in February, 89% of the investors surveyed believe that the US stock market is overvalued. The survey found that this is the highest level since at least April 2001. Bank of America said that in the past 10 years, an average of 81% of the fund manager investors surveyed have always believed that the US stock market is overvalued.
White House: Musk can only advise the president and convey the president’s instructions, and has no decision-making power.
The White House said in a court document on the 17th local time that the role of American entrepreneur Musk in the Trump administration is that of White House employees and senior advisers to the President, not employees of the Government Efficiency Department, and he has no decision-making power. The White House signed a document saying that Musk could only provide advice to the President and convey the President’s instructions. "Like other senior White House advisers, Musk himself has no actual or formal power to make government decisions." It says in the file.
Wang Huanyu returned to China to join Huazhong University of Science and Technology and participated in the research and development of three Apple M-series chips.
Recently, the personal homepage update information of official website, a teacher of Huazhong University of Science and Technology, shows that Dr. Wang Huanyu, who previously worked for Apple in the United States, has returned to China to join the School of Integrated Circuits of Huazhong University of Science and Technology as a professor and doctoral supervisor. Wang Huanyu has participated in the research and development of three Apple M series chips, among which the world’s first 3nm Apple M3 series chip and Apple M4 series chip have been released and listed. (The Paper)
Singapore said that it actually bought only a small number of NVIDIA chips.
Chen Shilong, the second minister of Singapore’s Ministry of Trade and Industry, told lawmakers on Tuesday: "From August to October 2024, the physical delivery of products sold by NVIDIA to Singapore accounted for less than 1% of its total revenue." He added that these products are mainly deployed in large enterprises and government agencies. Chen Shilong also pointed out that although NVIDIA attributed 22% of the sales in this period to Singapore, it was actually the place where NVIDIA customers received their bills. "Global entities usually issue bills for the goods and services they purchase in the hub area, but this is separate from the actual place where the products are shipped. According to our inspection results, this is indeed the case. " (Sina Finance)
The EU is preparing to make a decision on whether Apple and Meta will abide by the Digital Market Act next month.
EU Competition Commissioner Teresa Rivera said in an interview that the EU is preparing to make a decision on whether Apple and Meta Platforms will abide by the EU Digital Market Act next month, and is also investigating whether social media platform X violates EU regulations on illegal content. (Interface News)
The China Nonferrous Metals Industry Association is strongly dissatisfied with and resolutely opposed to the wrong approach announced by the US government to adjust aluminum import tariffs.
On February 10th, EDT, the US government announced that it would adjust the import tariff on steel and aluminum, resume the tariff on 232 steel and aluminum for global trading partners, and further increase the import tariff on aluminum products. Recently, the Federal Gazette published a tariff adjustment plan. China Nonferrous Metals Industry Association expressed strong dissatisfaction and resolute opposition. The United States has seriously violated the basic principles of the WTO, such as fair trade and non-discrimination. The WTO has already ruled that the tariff measures of US steel and aluminum 232 violate WTO rules, and the US side has not corrected them, but has made repeated mistakes, which will seriously damage the rights and interests of all countries and seriously undermine the multilateral trading system based on rules. (China Nonferrous Metals News)
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