Group 1 - The US and China have reached a temporary agreement to suspend mutual tariffs of 24% for 90 days, with both sides agreeing to cancel or suspend a total of 91% of tariffs on each other's goods [3][5][4] - Following the announcement, the US dollar index rose by 0.62%, while gold prices fell by approximately 2.18%, indicating market reactions to the easing of trade tensions [3][5] - Analysts suggest that the 90-day suspension provides both parties with more negotiation time, potentially leading to a more stable economic relationship in the long term [5] Group 2 - There are reports that state-owned investors no longer trust the founding team of Neta Auto, with speculation about Toyota's interest in acquiring the company, although both parties have denied these rumors [7][8] - Neta Auto's financial issues have raised concerns among its investors, leading to written inquiries about its operational status and financial health [8] - The company has faced scrutiny over its operational capabilities and funding, with significant stakeholders expressing doubts about its future [7][8] Group 3 - Hisense's Vidda brand has been found guilty of commercial defamation against Xiaomi, resulting in a court ruling that requires Vidda to publish a statement to mitigate the damage caused [9][10] - The court ruled that Vidda's marketing materials contained statements that could mislead the public into associating them with Xiaomi, damaging Xiaomi's reputation [9][10] Group 4 - JD.com has faced allegations of fraudulent practices regarding its "quality dining" restaurants, with reports of unsanitary conditions and misleading certifications [12][13] - The company had previously emphasized that only quality dining establishments would be allowed on its platform, but investigations revealed significant discrepancies in compliance [12][13] Group 5 - The sales of Neta Auto have declined significantly, with a reported drop in net profit exceeding 90%, prompting the company to expand layoffs to 20,000 employees [35][36] - Despite a slight decrease in global sales, the Chinese market has seen a substantial decline of 12.2%, which has adversely affected the overall performance of the company [35][36] Group 6 - Xiaomi's SU7 Ultra has been the subject of debate regarding its pricing strategy, with some advocates suggesting it should be priced higher to attract a more affluent customer base [14][15] - The vehicle's initial pricing strategy has been criticized, with suggestions that a higher price point would filter out less serious buyers [14][15] Group 7 - The cross-border e-commerce platform Kaola has been taken offline, which was previously acquired by Alibaba for $2 billion, indicating a significant shift in the company's operational strategy [6][16] - The app's removal from various platforms marks a notable change in the competitive landscape of cross-border e-commerce in China [6][16] Group 8 - Tesla employees have publicly protested against CEO Elon Musk, leading to the dismissal of one employee who created a website criticizing Musk's leadership [28] - The protest highlights internal dissatisfaction with Musk's management style and its perceived impact on the company's brand and sales [28]

1. Report Industry Investment Rating - No information provided on the report industry investment rating 2. Core View of the Report - This week, soybean meal fluctuated. The US and the UK reached a tariff agreement, and the UK will increase imports of US agricultural products, which may have a leading effect and benefit US soybean exports. China and the US have started contact and talks, but it may be difficult to reach a consensus in the short term, with limited impact. Last week, the net sales of US soybean exports were 387,000 tons, in line with expectations, supporting the upward fluctuation of US soybeans. However, the USDA drought report showed that as of May 6, the drought - affected area of US soybeans remained stable at 15%, which was relatively low overall. Argentina raised its soybean production forecast for this year by 1.4 million tons to 50 million tons, which was negative for US soybeans. In China, as the customs clearance of imported soybeans resumes, the operating rate of oil mills has gradually increased, and the spot supply of soybean meal has changed from tight to loose, with the spot basis dropping significantly. Currently, the soybean and soybean meal inventories of oil mills are low, but they are about to enter the inventory - building cycle. The long - and short - term factors are intertwined, and US soybeans fluctuate. The supply of domestic soybean meal has changed from tight to loose, and the soybean supply is sufficient from May to July. The resumption of normal operation of oil mills suppresses the near - month continuous soybean meal to fluctuate weakly. However, there is a replenishment demand from downstream after the festival, which supports the short - term stability of soybean meal spot. In the long - term, the reduction of the US soybean planting area is basically certain, and the background of production reduction supports the bullish sentiment for the far - month soybean meal. At the same time, the development of China - US tariffs is positive for long - term US soybeans. It is still recommended to go long on the far - month soybean meal at low levels. The strategy is to go long on soybean meal 09 at a low level in the range of 2900 - 3000 [6]. 3. Summary by Relevant Catalog 3.1 Market Review - The CBOT soybean closed at 1052.25 cents per bushel this week, down 6.00 points from last week's close, with a weekly decline of 0.57%. The M2509 soybean meal closed at 2899 yuan per ton, down 21 points from last week's close, with a weekly decline of 0.72% [8] 3.2 Fundamental Analysis 3.2.1 Cost Side - **Weather and Sowing**: In the US soybean - producing areas, the rainfall is average and the temperature is gradually decreasing. As of the week of May 4, 2025, the US soybean planting rate was 30%, lower than the market expectation of 31%, higher than 18% of the previous week, 24% of the same period last year, and the five - year average of 23% [12][21] - **US Soybean Exports**: As of the week of May 1, the net sales of US soybeans for the 2024/2025 season were 377,000 tons, down from 428,000 tons in the previous week; the net sales for the 2025/2026 season were 10,000 tons, down from 50,000 tons in the previous week [12][24] - **Brazilian Soybeans**: As of May 3, the harvesting rate of Brazilian soybeans in the 2024/2025 season was 97.7%, up from 94.8% last week, higher than 94.3% of the same period last year and the five - year average of 96.3%. The estimated export volume in May is 12.6 million tons, a year - on - year decrease of 870,000 tons. As Brazilian soybeans are exported in large quantities, the near - month premium of Brazilian soybeans has declined again [12][27][34] - **Argentine Soybeans**: As of May 2, the Argentine soybean harvesting rate was 23%, up from 14% last week, lower than 36.2% of the same period last year [12][30] 3.2.2 Supply - In the 18th week (April 26 - May 2), a total of 25 ships of soybeans, about 1.625 million tons, arrived at domestic full - sample oil mills [12][38] 3.2.3 Demand - In the 19th week (May 3 - May 9), the actual soybean crushing volume of oil mills was 1.846 million tons, with an operating rate of 51.89%, 103,000 tons higher than the forecast. The trading volume of soybean meal was 1.0584 million tons, and the pick - up volume was 603,900 tons [12][38][42] 3.2.4 Inventory - In the 18th week of 2025, the soybean inventory, soybean meal inventory, and unexecuted contracts of major domestic oil mills all increased. The soybean inventory was 4.7464 million tons, an increase of 151,600 tons from last week, a year - on - year increase of 556,300 tons; the soybean meal inventory was 82,100 tons, an increase of 7300 tons from last week, a year - on - year decrease of 443,000 tons [12][45] 3.3 Spread Tracking - No specific content provided for spread tracking other than listing the types such as the 9 - 1 spread of soybean meal and the soybean - rapeseed meal spread [51]

瑞士与美国举行建设性贸易谈判，希望紧随英国之后达成协议 金十数据5月9日讯，周五，瑞士方面表示，他们与美国官员举行了"建设性"贸易谈判，并希望很快效仿 英国，与特朗普政府签署一项协议。在日内瓦与美国财长贝森特和贸易代表贾格里尔会面后，瑞士联邦 主席凯勒-祖特尔表示，瑞士可能是下一个与美国就关税达成协议的国家。此前，特朗普威胁要对瑞士 出口到美国的商品征收31%的关税，理由是瑞士对美国存在巨大的商品贸易逆差。但祖特尔在谈判时的 主要论点是，如果把服务业考虑在内，赤字就会被抵消。 ...

Group 1 - The US dollar has depreciated against the Swiss franc, dropping over 0.1% to a daily low of 0.8291 [1] - The Swiss Federal President suggests that Switzerland may be the next country to sign a tariff agreement with the US, following the UK [1] - The US is expected to avoid raising tariffs again [1]

瑞士联邦主席表示，瑞士可能是下一个与美国签署关税协议的国家。 ...

Group 1 - The core point of the news is the volatility of gold prices, with significant fluctuations observed during the Asian trading session, driven by various market factors [1][3][4] - Gold prices saw a sharp increase, reaching a high of $3414.706 per ounce before experiencing a decline to a low of $3319.835 per ounce, indicating a drop of over $90 from the peak [1][3] - Goldman Sachs reported that the recent surge in gold prices was primarily due to active buying by Asian officials, with most price movements occurring during Asian trading hours [7][8] Group 2 - The data from the ETF market shows a net outflow of over 7 billion, while the SGE Gold 9999 ETF recorded a net inflow of 936 million, highlighting a shift in investment preferences [9][11] - The report indicates that Bitcoin ETFs have seen significant inflows, surpassing those of gold ETFs, with the BlackRock Bitcoin ETF receiving $6.96 billion this year, compared to $6.5 billion for the largest gold ETF [13] - The People's Bank of China has increased its gold reserves for six consecutive months, with a total of 73.77 million ounces as of the end of April, reflecting a slower growth rate compared to previous months [14] Group 3 - The public fund industry in China has introduced a significant reform document aimed at transitioning from a focus on scale to one on quality, with 25 reform measures outlined [19][20] - Key measures include establishing a performance-based fee structure for funds, enhancing long-term performance assessments, and promoting the growth of equity investment within public funds [19][20] - This reform is expected to have a profound impact on the industry landscape and wealth management for residents, emphasizing the importance of returns over mere asset accumulation [20]

2、上周五美国最新4月的非农就业数据，录得17.7万人，高于市场预期的13万人。非农就业数据公布之后，市场大幅降低6月份美联储的降息预期，低至 50%。大家似乎可以不用太过担心美国陷入经济衰退的风险，不过有意思的是，上个月公布的非农就业数据再次下修5万人。 你的假期余额已经不足，好消息是A股明天开市，大家有可以愉快的投资了！ 这个节假日，重大消息并不多。外围市场最为关注的三件事情： 1、日本央行议息，此次继续按兵不动，没有继续加息。不过在周末最新一年一度的伯克希尔股东大会上，股神巴菲特表示会在未来50年内继续投资日本 五大商社。近期日本股市基本上走出了4月初毛衣战的阴霾，收复了大部分跌幅。 预计明天A股开盘小幅高开是板上钉钉的事情，但是高开之后会怎么走？是继续高走还是低走？这是大家关心的事情。 鉴于此前多次节假日期间港股，A50等中国资产涨幅较好，结果轮到A股开盘之后就是高开低走的画面。这次会有什么不一样？ 此次，节前利好预期并不满，别忘了周三的市场格局是银行调整，小票回暖的格局。另外，五一假日出行人数，消费数据预计会有不错的涨幅。当然，重 点是要看人均消费数据，而不是整体的量。 总之，这次五一假期，持仓过节 ...

Domestic News - The Ministry of Transport reported that on May 1, the total inter-regional mobility reached 33,271.4 million trips, a year-on-year increase of 6.2%. Railway passenger volume was 23.11 million trips, up 11.7% year-on-year. Road mobility was 30,561 million trips, increasing by 4.7%. Waterway passenger volume was 1.649 million trips, up 87.5%. Civil aviation passenger volume was 233.6 million trips, a rise of 8.9% [1] - On the first day of the "May Day" holiday, Zhuhai, connecting Hong Kong and Macau, experienced a peak in cross-border travel with approximately 700,000 travelers and nearly 38,000 vehicles checked, representing year-on-year increases of 39% and 23% respectively [1] - The Hong Kong stock market saw significant gains, with the Hang Seng Index rising by 1.74%, the Hang Seng China Enterprises Index up 1.92%, and the Hang Seng Tech Index increasing by 3.08%. Notable stock performances included Alibaba up 3.83%, Xiaomi up 6.31%, Tencent up 2.22%, BYD up 3.30%, JD.com up 3.28%, Horizon Robotics up 14.50%, Xpeng Motors up 6.66%, and WuXi Biologics up 5.70% [1] International News - The U.S. proposed a tariff agreement framework with Japan, centered on reciprocal tariffs, which includes a refusal to lower tariffs on automobiles, steel, and aluminum. Japan's negotiators firmly opposed the U.S. proposal [3] - U.S. President Trump announced that any country or individual purchasing oil or petrochemical products from Iran would face U.S. sanctions, prohibiting them from doing business with the U.S. [3] - Apple CEO Tim Cook indicated that U.S. tariffs could negatively impact Apple's second-quarter profits, estimating an increase in costs by $900 million due to current trade policies. Cook also mentioned plans to invest $500 billion to expand operations in the U.S., including building server and chip factories [4]

据日经新闻：美国推动将汽车和钢铁关税排除在美日关税协议之外。 ...

智通财经5月2日电，美国关税谈判代表提出了与日本的协议框架，推动将汽车和钢铁关税排除在美日关 税协议之外。 ...