U.S. stocks closed: Technology stocks led the Nasdaq up nearly 200 points Wei Xiaoli collectively closed up

Financial circles on May 3 news, investors pay attention to economic data and corporate earnings reports, while waiting for the Federal Reserve monetary policy decision and non-farm data, the U.S. stock market in the technology stocks led by the collective closing up, nasdaq rose nearly 200 points, the Dow recovered 33,000 points; social media, education sector performance is strong, "Wei Xiaoli" are slightly up, of which Weilai rose 4.5%; 51Talk, together education rose more than 13%, daily excellent fresh fell more than 13%, Tuniu fell more than 8%, AMD rose more than 5%.

As of the close, the Dow Jones was up 86.40 points, or 0.26%, at 33,063.61 points; the S&P 500 was up 24.57 points, or 0.59 percent, at 4,156.50 points; and the Nasdaq Composite was up 186.78 points, or 1.51 percent, at 12,521.42 points.

Gold delivered on the New York Mercantile Exchange for June closed at $1,863.60 an ounce, down $27.70 or 2.5 percent, the biggest one-day percentage decline since March 9, and the most active gold contract on March 9, down 2.7 percent. The dollar spike is believed to be partly responsible for the 2.1 percent decline in April, the biggest drop in seven months. Silver fell 59 cents in May, or 2.2 percent, to close at $22.54 an ounce.

West Texas Intermediate crude futures for June deliveries on the New York Mercantile Exchange rose 48 cents, up 0.5 percent to close at $105.17 a barrel, as low as $100.28 a barrel at one point. Intercontinental Exchange European Futures Exchange Brent crude oil futures rose 44 cents to $107.58 a barrel, or 0.4 percent, in July. Natural gas futures for June closed up 3.2% to $7.475 per million BTU units. Gasoline prices rose 2 percent to $3.5101 a gallon in June and heating oil prices rose 4.7 percent to $4.2,049 a gallon in June.

Popular Chinese stocks closed up or down on Monday, with Basket Technology up more than 17 percent and TouchPal down more than 17 percent. 51Talk, Together Education rose more than 13%, Jiufu, Jinshan Cloud rose more than 10%, Manbang rose more than 9%, Tuya Intelligence, Cheetah Mobile, Zhihu rose more than 7%, Gaotu, Jiuzhou Pharmacy rose more than 6%, Tencent Music, Dada Group, Leju, NetEase Youdao, New Oxygen, Alibaba, BeiGene, rose more than 4%, Futu Holdings, Lanting Jishi, iQiyi, Pinduoduo, Huya, Vipshop, Yunmi Technology, 1 Medicine Network rose more than 3%, Baidu, Ninth City, JD.com, Huanju Group, New Oriental, Canaan Technology, Shell, Lychee, Zhongtong, Tiger Securities rose more than 2%, Autohome, Renren, PetroChina, Yunji, Douyu, Yixian E-commerce, Dingdong Grocery, Sohu, Xunlei, Happy Auto, Zhangmen Education rose more than 1%, and Wuxin Technology rose nearly 1%.

New energy vehicle stocks rose, with Weilai and Ideal Automobile up more than 4% and Xiaopeng Automobile up more than 3%. Daily Excellent Fresh fell more than 13%, Tuniu fell more than 8%, Ruisi and Quhuo fell more than 6%, Secoo and Onion Group fell more than 5%, Hong En and Mushroom Street fell more than 4%, Cook Music, Red, Yellow and Blue fell more than 3%, Suntech Institution fell more than 2%, NetEase and Maverick Electric fell more than 1%, and Qutoutiao fell nearly 1%.

U.S. manufacturing indicators unexpectedly fell to their lowest since 2020

A U.S. indicator of manufacturing activity unexpectedly fell to its lowest level since 2020 in April as orders, production and employment growth slowed. Data released monday by the Institute for Supply Management showed the index of manufacturing activity fell to 55.4 in April from 57.1. A figure above 50 represents expansion. The economists surveyed had median expectations of 57.6; all but one economist predicted higher than the final result.

The latest data shows signs of weak demand for commodities. Both new orders and production indicators fell to their lowest levels since May 2020, although still above the threshold representing growth.

The Supplier Delivery Indicator is one of the few metrics in the report that rose in April, with longer lead times as factories continue to suffer from transportation bottlenecks and delays. Delivery metrics rose to five-month highs, and measures of what manufacturers pay have fallen back, but remain very high.

The EU plans to turn to Africa for help to replace Russia's gas imports

The EU will seek to strengthen cooperation with African countries to help replace imports of Russian gas and reduce its dependence on Moscow by almost two-thirds this year. A draft EU document shows that African countries, particularly those in the western part of the continent, such as Nigeria, Senegal and Angola, have great untapped potential in the area of LNG. The European Commission is scheduled to adopt a communication on external energy participation later this month as part of a package to implement the EU's plan to reduce its energy dependence on Moscow.

In the aftermath of the Russian-Ukrainian conflict, the 27-nation bloc wanted to get rid of its biggest supplier. Its draft energy strategy also seeks to prepare the region for imports of 10 million tonnes of renewable hydrogen by 2030 to help replace natural gas from Russia, in line with the ambitious EU green deal to move away from fossil fuels and achieve climate neutrality by mid-century.

The EU plans to increase LNG imports by 50 billion cubic meters and increase pipeline gas shipments from countries outside Russia by 10 billion cubic meters, which requires building relationships with traditional suppliers on a new basis and expanding trade to emerging suppliers, the document said.

The EU has accused Apple of violating competition law when it comes to contactless payments

The European Commission has accused Apple of abusing its market position in contactless smartphone payments. In its preliminary findings, it said the U.S. company may have violated competition laws because it prevented competitors from using its "plug and play" technology.

Apple denied the allegations and promised to engage with the committee. If the allegations are upheld, it could be fined up to 10% of its global turnover of $36.6 billion (£29.2 billion) based on its revenues last year.

EU Vice President Margaret Vestager said in a statement: "We have indications that Apple is restricting third-party access to key technologies needed to develop mobile wallet solutions for competitors on Apple devices. The EU official in charge of competition policy said: "Our initial findings are that Apple may be limiting competition in favor of its own solution Apple Pay." ”

The rare "flash crash" trigger for European stock markets is Citi's London trading arm

The Swedish stock market suddenly plunged 8% and triggered a flash crash in the entire European stock market, behind which Citigroup's trading arm in London. In discussing the non-public information, an unnamed source familiar with the matter revealed that the plunge was triggered by a large wrong deal by Citi London Trading. The OMX Stockholm 30 index, which lasted five minutes, dragged down a group of exchanges from Paris to Warsaw, causing europe's major indexes to fall by 3% at one point and lose 300 billion euros in market value.

While it's unclear what caused the short plunge, a spokesperson for nasdaq Stockholm said it wasn't because of the exchange's technical glitch. "Our top priority is first to eliminate technical problems in the system, and the second is to rule out external attacks on the system. We have now ruled out both scenarios," spokesman David Augustsson said. The OMX Stockholm 30 closed down 1.9 percent, roughly in line with the decline in European markets.

The largest overseas holders of U.S. Treasuries quietly sold tens of billions of dollars

Historically, when the U.S. Treasury market is turbulent, the largest overseas investors in the U.S. Treasury have often come to the rescue. This time, however, it didn't. Just as the Fed is preparing to shrink its balance sheet to $9 trillion, Japanese institutional investors, known for their recent decades of Bond buying frenzy, are adding fuel to the massive sell-off of U.S. Treasuries.

The latest data from BMO Capital Markets shows that Japan, the largest overseas holder of U.S. Treasuries, has reduced its holdings of nearly $60 billion in U.S. Treasuries over the past three months. That could be small compared to Japan's total holdings of $1.3 trillion, but the threat of a reduction could rise.

That's because the divergence between the monetary policy paths of the U.S. and Japan is increasing, with the yen falling to a 20-year low and U.S. market volatility increasing dramatically. All of this increases the cost of foreign exchange hedging, losing the appeal of higher nominal yields in the United States, especially for large life insurers.

PGIM CEO: The bond market shows that the U.S. economy is likely to fall into recession by 2024

David Hunt, PGIM's chief executive, said Monday that the bond market suggests there is a good chance that the U.S. economy will fall into a recession, which could happen in 2024.

In an interview with Bloomberg Television at the Milken Institute Global Conference, Hunt said the recent inversion of the yield curve and rising interest rates reflected bond investors' concerns about growth prospects. He said the signals contradicted the message from the stock market. Hunt said the stock market had been saying "soft landing, don't worry, the Fed will be able to do that, at least until April." ”。

NIO: Delivery of 5,074 vehicles in April 2022 Delivery of ET5 is expected to begin in September

NIO group announced on the Hong Kong Stock Exchange on May 2 that NIO delivered 5,074 vehicles in April 2022, including 4,381 high-end smart electric SUVs, including 1,251 ES8, 1,878 ES6 and 1,252 EC6, and 693 ET7 (the company's high-end smart electric flagship sedan). As of April 30, 2022, cumulative deliveries reached 197912 units.

Flower e-commerce is hot, and the competition between the daily excellent fresh and multi-party entry of the MEituan Box Horse is fierce

With the continuous expansion of the flower market, in addition to B2C (a retail model that directly sells products and services to consumers) flower e-commerce, a number of fresh e-commerce and takeaway platforms have also entered the market. For example, "Hema Fresh" launched the "Cabbage Flower Factory" that opened the market at a low price in 2019, and upgraded it to "Hema Garden" in May last year; another fresh e-commerce company, "Dingdong Buy Vegetables", launched its flower business at the end of 2020.

NetEase Cloud Music recently issued a statement calling out to Tencent Music, suing the latter for unfair competition

Chen Mo, head of brand public relations of Tencent Music Entertainment Group, posted in the circle of friends: "The big music industry is not easy, we still continue to focus on doing the right things that are conducive to the development of the industry, ignoring the facts to touch porcelain will not help the development of the music industry, we will not join the ranks of the fight, after all, TME's friends are a group of people who really respect and love music." The relevant evidence has long been preserved, and the lawsuits that should be initiated have long been launched, believing in the fairness of the law. ”

This article originated from the financial world