[Global Markets] MSCI Announces Semi-Annual Index Review Results "Apple Core" Mac is officially launched
2020-11-11


Summary: 1. The performance of U.S. stocks is divided, technology stocks continue to be sold off, and economic restart concept stocks perform relatively well; 2. MSCI announces semi-annual index review results; 3. "Apple core era" kicks off, M1 joins hands with three models Mac struck; 4. The State Administration for Market Regulation asked for opinions on platform economy anti-monopoly, and e-commerce stocks collectively fell.
 
Global stock market
On Tuesday (10th) the world’s major stock indexes were mixed. Technology stocks that led the broader market during the epidemic continued to be sold off. Economic restart concept stocks performed relatively well. The three major U.S. stock indexes closed only the Dow rose and the Nasdaq The composite index fell more than 1%.
 
Terry Sandven, chief stock market strategist at U.S. Bank Wealth Management, said that the market's sector rotation seems to continue until the end of the year. In the long run, we still favor the technology, consumer discretionary and communications services sectors... But in the near term, as the economic outlook improves, we believe that the cyclical sector will outperform the broader market.
 
Lindsey Bell, chief investment strategist at Ally Invest, said: "The home concept stocks that have been leading the market for most of this year may fall out of favor. The long-term prospects for technology stocks are still good, but they may not lead the market again."
 
Commodity market
The price of gold rebounded on Tuesday after the sharp drop the previous day. The December gold futures price, which was the most actively traded on the New York Mercantile Exchange gold futures market, rose 22 US dollars over the previous trading day on the 10th, closing at US$1876.4 per ounce, an increase of 1.19%. Silver futures prices for December delivery rose 76.1 cents to close at 24.462 US dollars per ounce, an increase of 3.21%.
 
Adrian Ash, head of research at BullionVault, said that Monday's gold price fell "a bit too far." Vaccine news has not changed the prospects for long-term weak growth, deteriorating government deficits and super-loose monetary policy, so gold prices will continue to be supported in the future.
 
Vaccine benefits overshadowed demand concerns, and oil prices continued to rise on Tuesday. The price of light WTI crude oil futures for December delivery on the New York Mercantile Exchange rose by US$1.07 to close at US$41.36 per barrel, an increase of 2.66%; the price of London Brent crude oil futures for delivery in January 2021 rose by US$1.21 to close At US$43.61 per barrel, an increase of 2.85%.
 
Market news
[MSCI announces semi-annual index review results]
 
The MSCI semi-annual review results show that 58 constituent stocks will be added to the MSCI China A-Shares Onshore Index, 23 will be eliminated. The three new stocks with the largest market value are Yihai Kerry, Great Wall Motors and Lanqi Technology; MSCI China is fully circulated The index will add 60 constituent stocks, excluding 55, and the three new stocks with the largest market capitalization are Yihai Kerry, BeiGene ADR and Simer International. In addition, the MSCI China A-shares onshore small-cap stock index added 293 stocks, and 22 stocks were eliminated; the MSCI China fully circulated small-cap stock index added 354 stocks, and 45 stocks were eliminated.
 
[Federal Reserve Official: The economy may perform difficult due to the epidemic in the next two quarters]
 
President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Tuesday that due to the rebound of the epidemic, the outlook for the fourth quarter is uncertain, and companies will be in a very difficult situation in the next two quarters. It is still uncertain how much the epidemic will have on the US economy and the extent of its damage to the long-term growth potential.
 
[The European Parliament and EU member states reached consensus on a new long-term budget]
 
On the 10th local time, the European Parliament and the 27 EU member states reached a consensus on a new EU long-term budget from 2021 to 2027. The European Parliament stated that on the basis of the consensus reached in July this year, EU member states have agreed to allocate another 16 billion euros of additional funds, of which 15 billion euros will be used to strengthen the protection of citizens during the epidemic and provide opportunities for the next generation. Hundred million euros will be used to strengthen the institutional construction to deal with future crises. The above additional funds will be obtained from fines imposed on companies that violate EU rules.
 
[New wave of epidemic drags oil market EIA downgrades next year's crude oil demand forecast]
 
The U.S. Energy Information Administration (EIA) released its monthly short-term energy outlook report on Tuesday. Dragged down by the new wave of epidemics, EIA lowered its crude oil demand forecast for next year, and U.S. crude oil production will continue to decline next year. EIA adjusted the growth rate of global crude oil demand in 2021 to 5.89 million barrels per day, compared to 6.25 million barrels per day; it is expected that global crude oil demand will fall by 8.61 million barrels per day in 2020, after a drop of 8.62 million barrels per day. In addition, due to the closure of companies due to the epidemic, electricity consumption in the United States will drop this year.
 
[Most of the US "Affordable Care Act" may be retained]
 
On the 10th local time, the U.S. Supreme Court held a meeting to discuss whether to repeal the entire Affordable Care Act. The conservative Chief Justice Roberts and Justice Kavanaugh suggested that the personal authorization part of the bill is unconstitutional, but it does not mean that the entire bill needs to be repealed. . The Supreme Court is likely to retain most of the Affordable Care Act, which includes critical protections for existing health conditions and insurance premium subsidies that affect tens of millions of Americans.
 
[Apple releases self-developed chip M1 and three Macs]
 
At two o'clock in the morning on November 11, Beijing time, Apple held its third new product launch conference this fall. The "Apple Core M1" for Mac came as scheduled, and the "Intel Chip Era" that began in 2005 became history. Apple also introduced three new Macs with M1 chips: a new generation of MacBook Air, a 13-inch MacBook Pro, and a desktop computer Mac Mini. This key change also means that Apple computers use the same chip technology as the iPhone and iPad, and iPhone applications can run smoothly on the Mac.
 
[Boeing lost another 12 737 MAX orders in October]
 
According to data released by Boeing on Tuesday, Eastern Time, Boeing lost another 12 737 MAX orders in October, and there were no new orders that month. In October, Boeing delivered 13 aircraft to customers, down from the 20 aircraft delivered in the same period last year. In the first 10 months of 2020, Boeing delivered a total of 111 aircraft, far lower than the 321 in the same period last year. Although the 737 MAX is about to return to the blue sky, aviation demand is very weak under the epidemic, and restoring market trust is still a huge challenge for Boeing.
 
[Tesla adjusts the validity period of some ModelS and ModelX warranty]
 
On the 10th, Tesla customer support stated on Weibo that for ModelS and ModelX produced before March 2018, the 8GB embedded multimedia memory card (eMMC) warranty period was adjusted: from 4 years or 80,000 kilometers (before Whoever arrives) is adjusted to 8 years or 160,000 kilometers (whichever comes first).
 
[The European Commission determined that Amazon violated European antitrust regulations]
 
The European Commission said on Tuesday that Amazon has violated European antitrust regulations by using independent sellers' data to seek benefits for its own business, and announced a second formal investigation into Amazon's e-commerce business. Amazon said it disagrees with the European Commission's claims, saying it accounts for less than 1% of the global retail market. "In the past two decades, no company has cared more about small businesses than Amazon, or has done more to support small businesses."
 
[The State Administration for Market Regulation solicits opinions on platform economy anti-monopoly E-commerce stocks collectively fall]
 
On Tuesday, the State Administration of Market Supervision announced that in order to prevent and stop monopolistic activities in the platform economy, guide operators in the platform economy to operate in compliance with laws and regulations, and promote the sustainable and healthy development of the online economy, it has drafted the "Guidelines for Antitrust in the Platform Economy (Draft for Comment) )", now soliciting opinions from the public. Among them, common Internet platform misconducts such as "choose one between two" and "big data" are clearly restricted. Affected by this, Alibaba fell 8.26% on Tuesday, Jingdong fell 8.78%, and Pinduoduo fell 2.87%.
 
[TSMC’s board of directors approved the establishment of a wholly-owned subsidiary in the United States]
 
On the 10th, TSMC announced the resolution of the board of directors. TSMC’s board of directors approved a capital budget of approximately US$15.1 billion to build and expand advanced process capacity, build special process capacity, and build and upgrade advanced packaging capacity. In addition, the board of directors also resolved to approve the establishment of a 100% holding subsidiary in Arizona, USA, with a registered capital of 3.5 billion US dollars.