五件事20240711

Financial Data and Key Metrics - The S&P 500 topped 5,600 for the first time, climbing 1% and marking its 37th record this year [44] - US Treasuries remained stable after a strong $39 billion sale of 10-year bonds [44] - Core CPI, excluding food and energy costs, is expected to rise 0.2% for a second month in June, marking the smallest back-to-back gains since August [38] Business Line Data and Key Metrics - Apple aims to ship at least 90 million iPhone 16 devices in the latter half of this year, targeting about 10% growth in shipments of new iPhones [22] - Apple is confident that the addition of Apple Intelligence features with the iPhone 16 will help boost demand when the model goes on sale late this year [22] Market Data and Key Metrics - China's Securities Regulatory Commission is tightening rules on short selling and high-frequency trades to crack down on improper arbitrage and maintain market stability [6] - The mainland stock exchanges will boost margin requirements in short selling starting July 22, and China Securities Finance Corp will suspend its business of lending securities to brokerages starting July 11 [6][7] Company Strategy and Industry Competition - Apple is competing with other AI-enhanced smartphones from rivals like Samsung and Xiaomi, particularly in China where Huawei's Mate 60 Pro won over local consumers with its advanced, made-in-China 7-nanometer processor [22][48] - Alphabet has shelved efforts to acquire HubSpot, which would have ranked among the biggest takeovers of the year, helping Alphabet compete with other players like Microsoft, Oracle, and Salesforce [20][46] Management Commentary on Operating Environment and Future Outlook - Federal Reserve Chair Jerome Powell stated that he doesn't need inflation below 2% before cutting rates and added that the labor market has cooled "pretty significantly" [44] - Swaps are pricing in two rate cuts in 2024, with higher chances of the first cut coming in September [44] Other Important Information - The Bank of Korea is poised to leave interest rates unchanged at 3.5%, while Bank Negara Malaysia is expected to hold its overnight policy rate at 3.00% [25][26] - The US commercial real estate market's downturn has starkly negative implications for private equity, which relies heavily on debt to hit return benchmarks [14] Summary of Q&A Session - No specific Q&A session details were provided in the content