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Good morning family, the early bird has worms, A shares will open soon, early in the morning Dalong went to pick up bottles, the weekend Ministry of Finance blockbuster meeting has ended, can A shares rise this week? Let's enter today's morning review!
Overnight performance:
The three major U.S. stock indexes collectively closed up on Friday, with the Dow Jones and the S&P 500 continuing to hit new highs, and as of the close, the Dow Jones Industrial Average rose 409.74 points from the previous trading day to close at 42,863.86 points, an increase of 0.97%; The S&P 500-stock index rose 34.98 points, or 0.61%, to close at 5,815.03; The Nasdaq Composite Index rose 60.89 points, or 0.33%, to close at 18,342.94. For the week, the Dow rose 1.21%, the Nasdaq rose 1.13%, and the S&P rose 1.11%.
Large technology stocks were mixed, Tesla fell more than 8%, the company's robotaxi robotaxis failed to meet investors' expectations, Broadcom fell more than 2%, and Amazon and Meta rose more than 1%. Cryptocurrencies and non-ferrous metals were among the top gainers, with Coinbase up more than 7%, Bit Digital up more than 6%, and Century Aluminum up more than 5%. The U.S. earnings season kicked off with JPMorgan Chase, the largest bank in the United States, reporting third-quarter results, with revenue and profit beating market expectations. According to the financial report, JPMorgan Chase reported revenue of $43.32 billion in the third quarter, compared with the consensus estimate of $41.63 billion, and net profit of $12.9 billion, or $4.37 per share, compared with the market expectation of $11.6 billion. At the same time, Wells Fargo also reported better-than-expected third-quarter earnings. As of the close, Wells Fargo rose more than 5%, and JPMorgan Chase rose more than 4%.
Popular Chinese concept stocks rose, and the Nasdaq China Golden Dragon Index rose 0.91%, down 6.87% this week. iQiyi and Futu Holdings rose more than 3%, Pinduoduo and Tencent Music rose more than 2%, Xpeng Motors, JD.com, Full Bang, and Bilibili rose more than 1%, and Alibaba, Li Auto, Weilai, and NetEase rose slightly. Baidu, Weibo, and Vipshop fell slightly.
Interpretation of important news affecting A-shares:
1. How strong is the package of fiscal incremental policies? Brokers: The volume of policy tools may exceed 5 trillion yuan
Oriental Jincheng: It is judged that the incremental scale of fiscal policy in this package of incremental policies will not be less than 4 trillion yuan, exceeding market expectations
The weekend Ministry of Finance meeting generally mentioned a lot, this time the Minister of Finance just gave everyone a good expectation, that is, there will be a package of stimulus policies in the future, but did not say that the specific is trillions, because the specific amount can only be announced after the approval of the National People's Congress, it is expected that the specific number will be announced at the end of October, and now brokerages are predicting that the stimulus policy will be at least 3-5 trillion, and shouting 10 trillion, or there are really so many, A shares can start a new stage of rise, However, the premise of the sharp rise in A-shares is that there is really so much money to support it, but this meeting is mainly about banks and real estate, and does not directly mention the stock market, which is mainly good for the concept of bank real estate and debt, which can be paid attention to.
2. The Shanghai Securities Regulatory Bureau reminds investors to standardize trading and not to touch the red line of illegal reduction
This is actually not good, because the news came out last Friday, but the market still fell, in fact, we should think about a question, why everyone loves to reduce their holdings in violation of regulations without scruples, to put it bluntly, there will be no serious penalties and consequences at all, this time it is just to remind them not to violate the rules, there are no specific punishment measures at all, and there is no compensation for shareholders, so it is still negative.
Third, another wave of reduction is coming! The National Fund has also taken action!
Although the stock market fell sharply, a wave of holdings came on Friday, and the national fund also took action: North Huachuang: executives plan to reduce their holdings by no more than 80,000 shares; Tongfu Microelectronics: The National Fund plans to reduce its holdings by no more than 3%; Haikan shares: shareholders plan to reduce their holdings of no more than 7.55% of the company's shares in total; Zhongtian hardcover: shareholders intend to transfer 5% of the company's shares by agreement. Moreover, the national fund has also taken action, planning to reduce its holdings of Tongfu Microelectronics and cash out about 1 billion. We are optimistic about science and technology, support the development of science and technology, and some people use shareholders as ATMs! What else can be said? This will not have a good impact on the semiconductor sector next week. Since this wave of market, there have been more than 200 announcements of reducing holdings, which is one of the main reasons for the cooling of the market. Many of our A-share shareholders, large and small, do know how many catties and taels their company has, and they run away while the stock price is rising, this is human nature!
4. Chen Guo of China Securities Construction Investment: A-shares have entered a stage where it is difficult to make money through shocks
CITIC said that the current A-share market has entered a stage of "difficulty in making money". Chen Guo said: "Generally speaking, there will be a sharp fall in the bull market or how long the bull market is, it is not like the bear market has a long time, constantly to consume, and constantly let more and more funds bear the pressure of falling, it is actually completed in a very short time." In this case, the market will soon stabilize into the second phase. The second stage is a volatile pattern, this stage is not so easy to make money, the first stage of lying down to make money, or the stage of picking up money at will has passed. The second stage is very difficult, and people's doubts about the bull market will also rise, because the policy sometimes has its own pace, faster, slower, and everyone will also have some wavering. At present, the entire Chinese stock market is slowly transitioning from the first stage of the rapid lightning battle to the second stage, which is a tug-of-war and a shock pattern. It has risen by 50-60 points in the last week, and it has risen for several years in six days, it must be a bull, but this kind of fast bull comes and goes quickly, and it will definitely have to be digested for a period of time in the short term to continue to rise, come on! Received a reply from a friend like and reply 168! Let's send a hair!
5. North and South Korea suddenly! Something is wrong!
Everyone should see this news, and there is a little friction, I feel that it is the United States, want to mess up the situation in Asia, it must be aimed at us from the side, be careful, soon the results of the United States election in November will also come out, the short-term impact still has to have.
Today's A-share trend ideas
The first stage of the A-share bull market has ended, and it will not rise dozens of points a day like before, and then it will enter a process of repeated shocks to digest the profit and hedging disks, and then the second stage of the rise will be opened, the current Shanghai Composite Index support level is at 3200 points, and there is a chance to rebound if you can hold it here, and it will take another month or two to get up if you can't hold it.
If you can support, please give a like, and thank you for your support! When everyone read this article, Dalong had already gotten up early and was ready, just so that everyone could see it at the first glance.
Such a hard-working dragon, is it worth a thumbs up from you, this is very important to me! I heard that the person who gave me a thumbs up last time made a lot of money the next day! Although A-shares have fallen for 4 years, the current position Dalong will never cut meat and continue to insist! The market is not good, everyone huddles together to keep warm, encourages each other to cheer together! The hearts of the people are united, Mount Tai moves, and we will work together to get out of this difficulty! Rise up!
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