In the early hours of the 15th Beijing time, U.S. stocks fell slightly at the end of Friday. US retail sales rose 1.2% in July, lower than market expectations. The market is still weighing U.S. labor market data against a stalemate in fiscal stimulus negotiations.
the U.S. Department of Commerce reported that retail sales in the United States increased by 1.2% in July, a sharp slowdown from 8.4% in June and lower than 1.9% expected by the market. However, the monthly rate of core retail sales excluding cars exceeded market expectations, slowing to 1.9% from 8.3% in June, but exceeding market expectations of 1.3%.
since the survey time of the retail sales data is before the termination of supplementary unemployment benefits, it is unable to reflect the latest consumption situation. Retail sales are expected to slow further or even shrink again in August, given the deadlock in the new stimulus package.
analysts said the data showed that the rebound rate of retail sales in the United States slowed down in July, but the total retail sales exceeded the pre epidemic level; and retail sales in July increased by 2.7% year-on-year, indicating that the main part of the economy has returned to the previous trend.
Meanwhile, market participants continued to digest Thursday’s jobless claims data. US jobless claims fell to less than 1 million for the first time since the outbreak of the epidemic last week, data showed yesterday. Some analysts warned that the data, while reflecting an improvement in labor market conditions from the lowest point during the outbreak, could also reduce pressure on lawmakers to pass a new stimulus bill quickly.
the US Senate suspended in August from Thursday and failed to pass a new anti epidemic relief bill because there was no sign of easing the deadlock among the main negotiators. Senators and representatives will not return to Washington until after labor day. But Senate Majority Leader Mitch McConnell said the Senate will hold a formal meeting during the recess, and if an agreement is reached, senators will come back to vote.
House Speaker Nancy Pelosi said on Thursday that he was far from the Republican Party’s values, and the Senate began a three-week recess, which means that Congress will not reach a new round of stimulus plan before September.
a request for about $1 trillion in aid to troubled States was opposed by the White House. The two sides did not compromise on this point, and a new round of federal anti epidemic relief stimulus plan stalled.
in addition, Robert Redfield, director of the U.S. Centers for Disease Control and prevention, warned that the simultaneous outbreak of influenza and coronavirus would lead to a severe epidemic in the United States this autumn. “If we don’t follow [health] advice, it’s probably the worst autumn we’ve had from a public health point of view,” he said. In addition to measures to combat the spread of coronavirus, people should also be vaccinated against influenza
iqiyi said the company was under investigation by the US Securities and Exchange Commission. The SEC is seeking financial and operational records since January 2018, as well as documents related to acquisitions and investments mentioned by short seller Wolfpack research in its April report. Iqiyi said the company was cooperating with the investigation and had hired consultants for internal audit. The company was unable to predict the duration and outcome of the SEC investigation.
apple (AAPL) shares hit an all-time high on Thursday. According to reports, Apple plans to launch the apple one subscription bundle as early as October this year, allowing consumers to subscribe to Apple’s music, video (Apple TV +), games, news, fitness, icloud and other services at a lower price. It is understood that the bundle is designed to encourage customers to order more apple’s paid services. It can also help Apple get more stable income. Apple one may come with the iPhone 12 series.
it was also reported that apple and Google removed the game fortress night from their app stores on Thursday for violating in app payment guidelines, leading to an antitrust lawsuit filed by Epic Games, the developer of Fortress night, against two technology giants. Instead of demanding compensation from apple and Google, Epic Games stopped many of the companies’ practices in their respective app stores.
Novavax medicine rose sharply and the company will provide 60 million doses of candidate vaccine to the British government. Novavax said it would provide the UK government with 60 million doses of the candidate vaccine nvx-cov2373 for phase III clinical trials. The company also said it would supply the nvx-cov2373 vaccine to the UK as early as the first quarter of 2021.
the third quarter performance of Applied Materials exceeded expectations with strong guidance. Gary Dickerson, CEO of applied materials, said in a conference call that “the demand for semiconductor equipment is increasing” and “it will continue to grow in 2021”.
Tesla was upgraded to hold by Morgan Stanley. Adam Jonas, an analyst at Morgan Stanley, raised Tesla’s rating from “underweight” to “hold” and raised its target price to $1360 a share from $1050.