Global news： Nano-index hit the longest consecutive increase in two years, and demand worried that crude oil would drop more than 4% again.

　　On Tuesday, local time, the optimism of the market overshadowed the hawkish attitude of Fed officials, and US stocks continued to rise. The S&P Dow rose for seven consecutive days, hitting a seven-week high, while the Nasdaq rose for eight consecutive days, and the Nasdaq and S&P both rose for the longest consecutive day in two years. Technology stocks continued to exert their strength. Amazon rose more than 2%, leading the blue-chip technology stocks, and both Microsoft rose for eight consecutive days, and Microsoft hit a record high.

　　It is worth mentioning that,Long-term US bond yields continue to fall.It also helped the stock market to rise. Among them, the yield of 10-year US bonds fell by 8 basis points again on Tuesday. Tuesday’s auction of $48 billion of three-year Treasury bonds by the US Treasury Department was better than the previous performances, no.The real test will be the demand for long-term US debt auctions on Wednesday and Thursday..

　　After the Fed meeting, internal officials began to deploy intensively. Yesterday, many officials poured cold water on the market doves’ expectations. Among them, Federal Reserve Governor Bowman and Minneapolis Fed President Kashkali both made hawkish speeches, mentioning that the Fed may still raise interest rates in the future.Officials generally say that inflation is still too high, and fighting inflation is the top priority. Many people mentioned that the rising bond market yield led to the tightening of the financial environment.

　　Some analysts pointed out that it has reached an important turning point, and the market realized that the Fed’s actions have ended, and its concerns and worries about inflation have ended. Next, there will be a large-scale rise in stocks and debts. However, it should be noted that by observing the speeches of officials,Obviously, we are still worried about inflation, because there is still a long way to go before the Fed’s 2% target.Be wary of inflation rebound.

　　In terms of individual stocks, on Tuesday (November 7th) local time, Mark Gurman, a well-known Apple whistleblower, recently wrote that Apple rarely suspended the development of software updates for devices such as iPhone, iPad and Mac next year, so as to focus on troubleshooting existing codes.

　　According to several people familiar with the matter, Apple announced this decision to employees last week, with the aim of helping to maintain quality control after a large number of loopholes appeared in the earlier version. They added that the task of engineers now is not to add new functions, but to fix defects and improve the performance of software.

　　Gourmain wrote that the latest round of software development didn’t go well. When looking at the operating system scheduled to be released next year, the software engineering management team found that there were too many "escapes" that were not detected in the internal test. Therefore, it was decided to suspend the development of all new functions for one week to fix related vulnerabilities.

　　In addition, Hindenburg, the big bear, has a new prey, and this time it is also a Chinese stock market. On Tuesday, local time, Hindenburg, an American short-selling organization, published a short-selling report on eVTOL concept stock Yihang Intelligent, questioning the company’s capital reserve, technical strength and the authenticity of orders. Affected by this, Yihang Intelligent ADR closed down 12.70% on Tuesday.

　　In response to this situation, Yihang Intelligent also announced in the early hours of Wednesday that the report released by Hindenburg contained false statements and misunderstandings about the company’s business operation and financial status. This report highlights short sellers’ careless and incomplete understanding of the industry and business operations.

　　In terms of crude oil energy, as the weak global economic data overshadowed the concern that the Israeli-Hamas war might erupt into a wider regional conflict, international oil prices plummeted, and both oil prices hit new lows since July 24th. WTI crude oil closed down 4.69% to 77.08 USD/barrel; Brent crude oil closed down 4.40% to $81.40/barrel. EIA’s short-term energy outlook report shows thatThe growth rate of global crude oil demand in 2023 will be lowered by 300,000 barrels per day to 1.46 million barrels per day (previously 1.76 million barrels per day)..

　　The Fed’s expectation of raising interest rates in the future also suppressed oil prices..

　　[overnight U.S. stocks]

　　Among the large-scale Chinese stocks, Alibaba rose 0.06%, Baidu fell 0.36%, Netease rose 0.23%, Tencent Music fell 1.33%, and Pinduoduo rose 2.09%.

　　Among the large US technology stocks, Apple rose 1.45%, Amazon rose 2.13%, Google A rose 0.55% and Netflix fell 0.03%.

　　[global index]

　　In the European stock market, the FTSE 100 index in Britain fell slightly by 0.10% to 7410 points. The French CAC40 index fell slightly by 0.39% to 6986 points. Germany DAX index rose slightly by 0.11% to 15,153 points.

　　[global goods]

　　The main contract of Brent crude oil closed at $81.41 per barrel, down 4.43%; The main contract of crude oil in the previous period closed at 610.40 yuan per barrel overnight, down 4.48%.

　　Overnight, the Shanghai gold main contract closed down 0.51% to 472.68 yuan per gram; The main contract of Shanghai Bank closed down 1.43% to 5771.00 yuan per kilogram.

　　[overnight news]

　　Fed officials are expected to raise interest rates intensively.

　　Minneapolis Fed President Kashkali: If necessary, the Fed will take more measures on interest rates. FOMC did not discuss the content of interest rate cuts. Chicago Fed President goolsbee: If the yield of long-term government bonds remains at a high level, it is likely to be equivalent to tightening policies. The primary task of changing the interest rate stance is the progress of inflation; Federal Reserve Governor Bowman: It is still expected that further interest rate hikes are needed. Dallas Fed President Logan: Inflation is still too high, and the data seems to be moving in the direction of 3% instead of 2%. Federal Reserve Governor Waller: Q3 economy is booming, and the Federal Reserve is paying close attention to this situation. The soaring yield of 10-year US bonds is an "earthquake".

　　Atlanta Federal Reserve sharply raised its fourth-quarter GDP forecast for the United States.

　　The Atlanta Fed’s GDPNow model predicts that the GDP growth rate of the United States will be 2.1% in the fourth quarter, compared with the previous forecast of 1.2%.

　　The year-on-year decline in PPI in the euro zone in September was the highest in history.

　　In September, the PPI of the euro zone dropped by 12.4% year-on-year, the highest in history, but the chain increase exceeded expectations. The year-on-year decline in PPI was mainly due to the sharp drop in energy prices, which fell by 31.3% in September.

　　European Central Bank warns: "Shore-friendly outsourcing" of supply chain may push up inflation

　　A survey released by the European Central Bank on Monday showed that geopolitical tensions are prompting more multinational companies to respond to the "Friend-shoring" strategy, but this may push up inflation. Friendly shore outsourcing is a diplomatic and trade strategy put forward by the United States, which requires enterprises to shift their supply chain to allies and friendly countries. While implementing it, the United States is also actively selling this concept to its allies, including the European Union.

　　The European Central Bank surveyed 65 enterprises, and the total added value of the interviewed enterprises was equivalent to about 5% of the EU GDP. Among them, 42% enterprises claim that they will increasingly produce more goods in friendly countries’ markets, but more enterprises (60%) said that changes in supply chain and production location have pushed up prices in the past five years.

　　[company news]

　　Musk painted "New Cake": A chip for visually impaired people will be launched in a few years.

　　The world’s richest man recently said that his Neuralink is developing a visual chip, which is expected to be completed in a few years. This is their next research field after helping people who have lost the connection between body and brain to realize telepathy by mobile phone/computer. They are waiting for the regulatory authorities to approve our first human subject.

　　Shared office star fell WeWork filed for bankruptcy Softbank Masayoshi Son left a huge loss of $11.5 billion in black history.

　　When Softbank led a round of financing in 2019, WeWork reached the peak of its valuation of $47 billion. Now, when we filed for bankruptcy protection, WeWork’s liabilities were nearly $19 billion and its assets were nearly $15.1 billion. Since its listing, its share price has plummeted by 98%, and its market value was less than $45 million on Monday, leaving Softbank with an estimated equity loss of more than $11.5 billion and an uncertain debt of $2.2 billion. According to the commentary, WeWork’s impact on Sun Zhengyi’s professional reputation far exceeds the loss of money.

　　Apple is said to have delayed the development of new iPhone, iPad and Mac software next year.

　　Too many bugs are rarely stopped, and Apple is said to delay the development of new iPhone, iPad and Mac software next year. Apple’s suspension aims to fix defects and improve software performance. The suspension also affects the operating system updates of Apple Watch and mixed reality head-mounted Vision Pro, but it seems that the actual release time of the software will not be delayed at present.

　　Hindenburg "short-selling attack" Yihang Intelligent official response

　　On Tuesday, local time, Hindenburg, an American short-selling organization, published a short-selling report on eVTOL concept stock Yihang Intelligent, questioning the company’s capital reserve, technical strength and the authenticity of orders. Affected by this, Yihang Intelligent ADR closed down 12.70% on Tuesday.

　　In response to this situation, Yihang Intelligent also announced in the early hours of Wednesday that the report released by Hindenburg contained false statements and misunderstandings about the company’s business operation and financial status. This report highlights short sellers’ careless and incomplete understanding of the industry and business operations. Yihang Intelligent emphasizes that the accumulated orders and advance orders received by the company in the past reflect the strong interest and real demand of customers for the company’s eVTOL products. These orders are based on signed contracts and are scheduled to be delivered according to customer requirements after obtaining regulatory approval.

　　Intel is expected to win a big US anti-chip bill.

　　Intel, an American chip company, rose 2.16% on Tuesday, leading the Dow component stocks. The U.S. government may allocate $3-4 billion to Intel for the production of chip security facilities for U.S. military and intelligence applications. In addition, Intel CEO Kissinger also said on Tuesday that the company is achieving "five processes in four years" as planned, and the 18A node is expected to be put into trial production early next year.

　　Rivian’s annual capacity guidance is better than expected, ending the exclusive supply agreement with Amazon.

　　After the close of trading on Tuesday, Rivian, a concept stock of electric trucks, disclosed that Q3 achieved revenue of $1.34 billion and adjusted loss per share of $1.19, both better than market expectations. According to the company, Q3 produced a record 16,304 vehicles at its production facilities in Illinois in the fiscal quarter, and expects to produce 54,000 vehicles throughout the year, which is higher than the previous expected delivery of 52,000 vehicles. At the same time, the company announced that it has suspended the exclusive supply agreement to Amazon, and then it can sell vans to third parties. Affected by this, Rivian once rose more than 5% after hours.

　　[financial calendar]