The three major U.S. stock indexes fell together! Nasdaq down nearly 2% Tesla down more than 3%

As of press time, the Dow fell 190.59 points at 36,041.07 points, or 0.53 percent; the Nasdaq fell 253.49 points at 14,682.41 points, or 1.7 percent; and the S&P 500 fell 48.33 points, or 4,628.70, or 1.03 percent.

In tech stocks, Apple fell 1.45%; Facebook fell 3.21%; Amazon fell 2.46%; Microsoft fell 1.89%; Google fell 2.19%; Netflix fell 0.04%; Tesla fell 3.49%.

In terms of Chinese stocks, Alibaba fell 0.8%; Baidu fell 0.56%; JD.com rose 1.2%; NetEase fell 0.55%; Sina Weibo fell 0.99%; Pinduoduo fell 0.45%; Qutoutiao fell 3.15%; Weilai fell 3.55%; iQiyi fell 0.34%; Xunlei fell 2.12%; Momo fell 1.52%; Huanju Times fell 1.29%; Huya fell 1.21%; Bilibili rose 0.17%; and Autohome rose 1.77%.

Bitcoin fell below the $40,000 mark, blockchain concept stocks fell lower, Marathon Patent fell more than 5 percent, and Riot Blockchain fell more than 4 percent.

Markets await Powell's congressional hearings and the latest inflation data

With this week's Powell nomination hearing and the release of U.S. CPI data for December, investors are now in a "wait and see" model.

On Tuesday (January 11), the US Senate Banking Committee will hold a hearing on the nomination of Powell for re-election as Fed chairman, and the market is concerned that Powell is likely to respond to the tone of the Fed minutes released last Wednesday and the impact of the latest non-farm payrolls data at powell's first public appearance this year.

At the same time, multiple Fed voting committees will also speak about the US economy and monetary policy this week. The market is highly concerned about their statements about interest rate hikes and balance sheet reductions. Among them, Kansas City Fed President George, St. Louis Fed President Bullard, and Cleveland Fed President Mestre are the new voting committees this year, and their positions are more "hawkish" than last year's voting committees. Investors should keep an eye on U.S. Treasury rates and their impact on financial markets.

On Wednesday (January 12), the U.S. Department of Labor will release the latest CPI data.

The market currently generally expects that the CPI in the United States in December will continue to be high, and the year-on-year growth rate will rise to 7.1%, maintaining the highest level in 40 years. This follows a US CPI of 6.8% in November, a new high in nearly 40 years.

According to UBS Securities' forecast study, in the December CPI, while food and energy price increases slowed, core prices are expected to continue to rise rapidly in the coming months. Motor vehicle prices remain strong; import prices rise steadily, and tenant rents should see additional strong increases. Airfare and medical services (both of which are fueled by soaring Medicare prices) are also expected to make a significant positive contribution. The bank expects overall CPI inflation to break above 7% in December and peak around 7.3% in January and February before continuing the downward trend in the spring.

The curtain will open this week on wall street investment banks' earnings reports

On Friday, JPMorgan Chase, Citigroup and Wells Fargo will report earnings before U.S. stock marketing. Goldman Sachs will report earnings on January 18, while Morgan Stanley and Bank of America will report on January 19.

Analysts predict that JPMorgan earnings per share will soar nearly 70 percent in 2021.

Investors are already betting that the top companies in the financial sector will benefit the most from the continued economic recovery.

Goldman Sachs: The Federal Reserve may raise interest rates four times in 2022 And the balance sheet will begin to shrink in July

Goldman Sachs strategist Jan Hatzius said the rapid progress in the U.S. job market, along with the tough signals emanating from the minutes of the Federal Open Market Committee (FOMC) meeting from Dec. 14-15, suggested that monetary policy would accelerate normalization.

Goldman Sachs' latest forecast that the Fed may raise interest rates four times this year and will begin its balance sheet reduction process in July, if not earlier.

Company news

Alibaba CEO Daniel Zhang stepped down as a director of Weibo, and Alibaba CMO Dong Benhong took over

Weibo Company announced that Dong Benhong has been appointed as a director of the company's board of directors and Daniel Zhang has resigned as a director with effect from 10 January 2022.

GM will sell about 2.9 million units in China in 2021

In 2021, GM will retail sales of approximately 2.9 million units in the Chinese market. The Cadillac brand sold more than 230,000 vehicles in 2021, a record high. The cadillac XT6, a new American large-scale SUV with a "three rows and six seats" layout, continued to sell well, with sales jumping 28% year-on-year. The new American-style sedan Cadillac CT5, the brand's best-selling model, saw sales climb 43% year-on-year. The Wuling brand sold more than 1.4 million vehicles in the whole year. Hongguang MINI EV sold about 400,000 units, ranking first in China's new energy vehicle sales list.

Pfizer and Beam Therapeutics have an exclusive multi-objective research collaboration

Pfizer and Beam Therapeutics announced a 4-year exclusive research collaboration focused on in vivo base editing projects for rare genetic diseases such as the liver, muscle and central nervous system. Beam will receive an advance payment of $300 million, and assuming Pfizer exercises the option against these three target companies, Beam will be eligible for up to $1.35 billion in development, regulatory and commercial payments. Beam also receives royalties from the global net sales of each licensed project. The initial duration of the cooperation is four years and can be extended to one year.

The new iPhone SE supporting 5G could be released in March

According to macRumors, Bloomberg technology reporter Mark Gurman said in his "Power On" newsletter that Apple's spring product launch is likely to be held online again in March or April, and the new iPhone SE that supports 5G and faster chips is the focus of the conference. Gurman said the new SE basically maintains the original appearance, with a focus on internal upgrades. In addition to this, Apple may announce new 27-inch iMacs and high-end Mac mini models with M1 Pro and M1 Max chips. The Temperature Sensor feature of the Apple Watch Series 8 isn't yet certain if it'll be available this year.

Nearly a month after the shutdown, Foxconn's Indian iPhone foundry resumed work on a small scale on Wednesday

Local government officials revealed that after nearly a month of shutdown, Foxconn's iPhone foundry in India will gradually resume work on Wednesday (January 12), but only about 500 employees will start working at that time. On December 15 last year, more than 150 employees suffered from acute diarrhea and hospitalization after eating in the factory cafeteria, and 256 people were treated in outpatient clinics. This sparked massive protests at the plant. From December 18, workers at the factory began a mass strike and the factory began to shut down.

TSMC's revenue hit a record high for six consecutive quarters

According to TSMC, it achieved a total of NT$155.382 billion in net revenue in December last year, an increase of 7.1 billion yuan from November, which also means that TSMC's overall revenue in the fourth quarter of last year reached NT$438.2 billion (about US$15.85 billion). That figure is also higher than the company's previous guidance of $15.4-15.7 billion, and analysts' consensus expectations of NT$436.2 billion. The outbreak of demand for electronic products after the outbreak of the epidemic and the pursuit of advanced processes by companies such as Apple have also made the world's largest chip manufacturers in a state of short supply of production capacity, and it will take 2-3 years for large-scale investment and expansion to see results.

Southeast Asian payments giant Pine Labs first IPOed in the U.S. in the first half of this year, raising $500 million

According to Bloomberg, Pine Labs, an Asian digital payments provider backed by Sequoia India and MasterCard, is seeking an IPO in the U.S. with plans to raise about $500 million, starting with an initial public offering in the first half of the year. Sources said the listing could bring Pine Labs a valuation of about $5.5 billion to $7 billion. Founded in 1998, Pine Labs is a retail POS solution provider that is currently focusing on the development of digital payment methods, including e-wallets. The company's digital payment gateway and commerce platform, whose main business is in India, provides payment services to enterprise customers including Apple, McDonald's and Starbucks.

Yu Minhong: New Oriental retains about 50,000 teachers, and it is not feasible to shut down New Oriental at one time

Yu Minhong, chairman of New Oriental Education Technology Group, said in a post on his personal WeChat public account that after the dismissal of 60,000 employees, there are currently about 50,000 employees and teachers left by New Oriental. "Their livelihood depends in part on the healthy and sustainable development of New Oriental. Let everyone have a good job, but also our managers need to bear the mission and responsibility. Yu Minhong mentioned that some people suggested that he turn off New Oriental at one time, but that was an impossible thing, emotionally unacceptable, and not feasible in reality.