1. Pre-market performance of U.S. stock futures (4:27 p.m. Taipei time)
■ Dow Jones Index: down -33, or -0.10%, to 33904.
■ Nasdaq 100 Index: down -43.75, down -0.29% to 15138.00.
■ S&P 500 Index: down -8.75, or -0.20%, to 4425.25.
[Today’s general economic data]US consumer inflation expectations in June and changes in US consumer credit in May.
The non-agricultural employment data released by the United States in June added 209,000 people, ending 14 consecutive months of higher than expected. The unemployment rate fell from 3.7% to 3.6%, in line with market expectations.
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2. Pre-market focus on US stocks
1. Five highlights of Yellen’s visit to China: U.S. Treasury Secretary Yellen ended her four-day visit to mainland China yesterday. During this trip, Yellen met with many new Chinese economic leaders such as Li Qiang, He Lifeng, and Pan Gongsheng , Liu He and others, officials from both sides said that the talks will help stabilize US-China relations. The following five key points are sorted out for this visit to the Bank of China and the press conference on the last day:
■ There are major differences between the United States and China that require clear and direct communication, but President Biden and I view U.S.-China relations not through the framework of great power conflict, and we believe the world is big enough for our two countries to prosper develop.
■ The United States does not seek to decouple from China’s economy, but is also seriously concerned about China’s countermeasures against Western economies by imposing export controls on semiconductor materials such as gallium and germanium.
■ The U.S. government will continue to take “necessary and targeted” actions to protect the security interests of the U.S. and its allies. When taking these actions, the U.S. will follow important principles such as transparency, narrow scope, and clear goals. “These actions are Out of direct national security considerations, not to gain economic advantage”, it also emphasized that the “de-risking” of the United States involved clearly stated and narrowly defined national security concerns of the United States, as well as the supply of the United States in several key industries. Chain diversification initiatives. In these key areas, however, trade and investment between China and the United States are still going on and benefiting both sides.
■ Reaffirmed the importance of ending the Russia-Ukraine war, saying that US support for Ukraine will not change, and Chinese companies must avoid providing material support to Russia or assisting Russia to evade sanctions.
■ On the issue of imposing tariffs on China, Yellen said that due to the provisions of US law, tariffs will automatically expire after 4 years of imposition, and the Office of the United States Trade Representative is now evaluating the imposition of tariffs on China.
2. TSMC’s consolidated revenue in June fell by 11.1% year-on-year: revenue in the first half of the year decreased by 3.5% year-on-year. TSMC announced this morning that its consolidated revenue in June reached 156.404 billion yuan, a decrease of 11.4% from the previous month and 11.1% from the same period last year. The cumulative revenue in the first half of the year was about 989.474 billion yuan, an annual decrease of 3.5%. TSMC predicted at the previous law conference that the revenue in the first half of the year will drop by about 10% compared with the same period last year. Therefore, the cumulative revenue announced before is better than originally expected. In addition, in the second half of the year, customers should have new The product came out, so the performance in the second half of the year was expected to be better than that in the first half of the year.
3. Musk advances to Malaysia to increase investment in charging network construction: In addition, according to the “Malaysia Utusan” report, Tesla President Musk will discuss the possibility of further increasing investment with Malaysian Dato Sri Anwar next week sex. Since March 1 this year, Tengku, Malaysia’s Minister of International Trade and Industry, stated that he has approved Tesla’s application to export pure electric vehicles from Malaysia. In addition, as the demand for electric vehicles in Southeast Asia is getting higher and higher, the Minister of Trade of Malaysia stated that Tesla (TSLA.US) will launch Tesla’s business in Malaysia on July 20, introduce service centers, and establish a super charging net.(Recommended reading: U.S. stock pre-market newsletter updated daily)
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2023-07-10 09:22:31
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