Market

“The U.S. dollar is our currency, but it’s your trouble” – As the U.S. dollar has been rising against the backdrop of recent declines in expectations of a Federal Reserve interest rate cut, this famous quote from former U.S. Treasury Secretary Connally more than half a century ago seems to be coming back again. It has become a major problem for many policymakers in emerging markets… Many investors in the foreign exchange market have recently been paying attention to whether the Japanese government will intervene to prevent the yen, which has already fallen below the 153 mark, from weakening further. But in fact, in emerging markets, many economies face exchange rate pressures no less than Japan. Some locals said the foreign exchange market has become a key battleground, as the dollar’s recent surge has put tremendous pressure on an increasing number of emerging economies to intervene. Market data shows that as investors continue to buy gold and the US dollar, the MSCI Emerging Markets Index weakened for the third consecutive day on Friday, approaching the low of the year. Almost…

Musk sent an all-staff email this afternoon, saying Tesla will lay off 10% of its employees worldwide. Earlier, foreign media reported that some employees said the layoff rate may be as high as 20%. However, according to verification, Tesla’s official all-employee letter was released at around 3:00 pm on April 15th, Beijing time, confirming that the layoff ratio would be 10%. Some media asked Tesla store employees in China to confirm the news. The other party said that they had not received the notification yet, but it would not have an impact on the business. Tesla has more than 140,000 employees worldwide, according to a December filing with regulators. Entering April this year, a new round of “price war” among car companies has begun. According to incomplete statistics, more than 10 brands have successively launched preferential activities since April. In addition to price reductions, consumers are attracted through various methods such as price reductions for additional equipment, separation of vehicles and electricity, and replacement subsidies. With Xiaomi Motors’ first car officially launched, priced starting at 215,900 yuan, new entrants have…

BofA Securities last week lowered its price target on Intel stock to $44 per share from the previous price of $50 per share, while maintaining a neutral rating on the stock. Prior to this target price adjustment, Intel conducted a re-segmentation of its business, which resulted in a change in the valuation method of the company’s IDM (vertical integration from chip design to production) business, including products and foundry services. . A report from Bank of America Securities pointed out that Intel’s future depends largely on CEO Pat Gelsinger’s vision to transform the chip company into a semiconductor foundry and compete with other companies in the industry. However, Bank of America analysts commented on Intel’s current situation that although Intel’s foundry business has made some achievements in external design, it still relies heavily on the company’s internal design team. This dependence has prompted the valuation of the IDM business to shift to a comprehensive assessment. approach rather than evaluating each part individually. Therefore, the new price target set by Bank of America this time is 23 times the expected price-to-earnings…

As the first-quarter earnings season of the U.S. stock market slowly opened last week, JPMorgan Chase , which has always been bearish on the prospects of U.S. stocksAnother pessimistic warning. JP Morgan strategists are not optimistic about the outlook for corporate earnings this earnings season, believing that except for a few technology giants, most U.S. stock companies will see an overall decline in earnings. They also believe that even if U.S. stock companies perform well in earnings, it will be difficult to push U.S. stocks higher because most of the optimism has been digested in advance. Xiaomo Mo’s pessimistic outlook on Q1 earnings season The team of Mislav Matejka, head of global equity strategists at JPMorgan Chase, wrote in a report that they have lowered their profit expectations for the first quarter of U.S. stock companies. Strategists said first-quarter earnings for most companies in the S&P 500 are expected to decline across the board after excluding several technology giants. Matejka also noted that investor positioning looks “very tight” as the S&P 500 index has risen to a record high. He…