Follow up comments
On Wednesday, the three major stock indexes of the United States were mixed, with the Dow Jones industrial average closing at 3516079, up 0.71%; The S & P 500 index closed at 445945, down 0.06%; The Nasdaq composite index closed at 1345307, down 1.22%. In terms of news, Netflix released its first quarter financial report, with a net decrease of 200000 streaming media paying users in the first quarter, the loss of users in a single quarter for the first time in nearly a decade, and the market is expected to increase by 2.5 million. Naifei's first quarterly report was far less than market expectations, and the US stock technology sector continued to be under pressure. On Wednesday, the performance of US stock technology sector was weak, and most large technology stocks fell, Naifei fell 35.15% and Facebook fell 7.77%; The banking sector continued to rise, with Morgan Stanley rising 1.9%; Most energy sectors rose, while western oil rose 1.81%; Most popular Chinese stocks fell, while mushroom Street fell 10.13%. On Wednesday, the Federal Reserve released the beige book report on economic prosperity, which shows that the US economy is continuing to recover, but it is greatly affected by the conflict between Russia and Ukraine and the rising inflationary pressure. Overall, the U.S. economic recovery is improving, and U.S. stocks still have growth momentum. However, considering that the Federal Reserve may raise interest rates many times during the year and the possibility of raising interest rates by 50 basis points in May is increasing, the market is gradually digesting the relevant news of the Federal Reserve accelerating the tightening of monetary policy, and it is expected that US stocks will maintain a volatile trend in the short term.
In Hong Kong, the three major stock indexes in Hong Kong fell collectively on Thursday. Hang Seng Index closed at 2068222, down 1.25%; Hang Seng China enterprise index closed at 6962.2 points, down 1.92%; Hang Seng Hong Kong Chinese enterprises index closed at 392155, down 1.37%. In terms of industry, the technology sector fell sharply. Hang Seng technology index closed at 399008, down 3.48%. In terms of individual stocks, Wanguo data fell 10.9% and JD health fell 6.52%; The pharmaceutical sector fell, with Sansheng pharmaceutical down 7.11% and Yaoming biology down 6.82%; The raw materials sector continued its decline, with Ganfeng Lithium Co.Ltd(002460) down 6.74% and Tiangong international down 6.45%.
Policy highlights
\u3000\u30001. European Central Bank: Central Bank Vice President jindos said that the European Central Bank may raise interest rates in July, depending on the data; Inflation in the eurozone is close to its peak and will slow in the second half of the year. （Wind）
\u3000\u30002. Central Bank of Russia: central bank governor nabiulina said that Russia has all sufficient financial resources and there is no risk of debt default. （Wind）
Company dynamics
\u3000\u30001. NFlx. O: the net profit in the first quarter of 2022 was US $1.597 billion, and the market expectation was US $1.322 billion, compared with us $1.707 billion in the same period last year. The first quarter revenue was $7.87 billion, and the market expected to be $7.931 billion, compared with $7.163 billion in the same period last year. In the first quarter, there was a net decrease of 200000 streaming media paying users and a net increase of 2.5 million market estimates. It is expected that in the second quarter, the number of streaming media paying users will decrease by 2 million, and the market is expected to increase by 2.4 million. （Wind）
Risk tips
Economic growth was less than expected
The spread of trade protectionism
Fed policy exceeded expectations
