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On November 26th, Nomura issued a report stating that NIO (NIO.N) saw a significant improvement in its profit margin in the third quarter, creating the possibility of adjusted break-even in the fourth quarter, but its fourth-quarter shipment guidance was lower than expected. Nomura maintained its target price of $8.40 for the groups US-listed shares and reiterated its "Neutral" rating. The report stated that NIOs third-quarter revenue increased by 17% year-on-year to RMB 21.8 billion, basically at the lower end of the groups guidance, as third-quarter shipments reached 87,000 vehicles, also at the lower end of guidance. Gross margin improved by 3.1 percentage points year-on-year to 13.9%, with automotive gross margin improving by 1.6 percentage points year-on-year to 14.7%, exceeding the banks and market expectations.Reserve Bank of New Zealand Governor Hawkesby: 2026 will be a period of decline in inflation towards 2% and economic recovery.Reserve Bank of New Zealand Governor Hawkesby: The committee is more comfortable with inflation expectations than earlier this year.On November 26th, US President Trump stated on social media on November 25th that the USs new "28-point" plan to end the Ukraine crisis has been further refined. Currently, disagreements remain regarding some clauses, and the US will send representatives to communicate separately with both Russia and Ukraine on the plan. Ukrainian President Zelenskyy stated on the same day that he was willing to meet with Trump to discuss some issues related to the "peace plan." Furthermore, Ukrainian negotiators also denied on the 25th US media reports that Ukraine had "agreed in principle" to the US "peace plan."November 26th - According to a report in the Yomiuri Shimbun on Wednesday, Japans opposition parties are stepping up preparations in case Prime Minister Sanae Takaichi announces a snap election. Some analysts believe that a snap election could occur as early as January next year, which would affect the governments economic policies, including the deliberation of Japans annual long-term fiscal blueprint, which is expected to be released around June next year. Depending on the timing of the election, it could also affect the pace and timing of the Bank of Japans interest rate hikes. The Bank of Japan typically avoids making major policy adjustments before elections. Jun Azumi, secretary-general of Japans largest opposition party, the Constitutional Democratic Party, said on Tuesday that the party would cooperate with other parties to win back seats from the ruling coalition.

S&P 500 Gains 0.4%, Hits Fresh Three-month Highs Above 4,300 Despite China Growth Worries

Skylar Shaw

Aug 16, 2022 14:58

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Despite concerns about China's growth, indices rise

Major US equity indexes were protected from worries about the future for global economic growth on Monday in the aftermath of dismal July economic activity statistics out of China during the overnight session by a decline in US treasury rates, which boosted rate-sensitive large tech/growth firms. The People's Bank of China, the country's central bank, unexpectedly slashed interest rates to relieve financial conditions in response to the negative economic indicators for China.


A slowdown in China's growth might help quell the inflationary pressures that have compelled the Fed to tighten monetary policy aggressively this year. It could also result in a slowdown in US growth that could discourage future major tightening. Analysts said that recent data that 1) revealed that US pricing pressures had now peaked and 2) indicated that the US economy was still expanding in early Q3 as well as 3) recent better-than-expected company results were all encouraging for stock prices for US equities.


The S&P 500 finished the trading day on Monday up around 0.4%, crossing the 4,300 mark for the first time since May 4 and bringing its run of gains from the lows in the low 3,700s in July to almost 15%. The Dow Jones Industrial Average increased by 0.45% to reach its 200-Day Moving Average for the first time since April 21. The Nasdaq 100 index increased by 0.75% to reach its highest level since late-April in the 13,600s.

Investors Prepare for Heavyweight Retailor Earnings and US Retail Sales Data

Energy, one of the eleven S&P 500 GICS sectors, had the poorest performance, dropping 2.0% after a steep decline in oil prices due to worries about China's consumption. Other than the materials industry, industrial metals prices saw a significant decline. The consumer staples (+1.05%), consumer discretionary (+0.6%), and information technology (+0.6%) sectors outperformed all other sectors in terms of growth. Tesla was the top-performing large-cap stock, gaining 3.1%.


The retail industry will be in the spotlight this week due to 1) the publication of the US Retail Sales numbers for July on Wednesday and 2) the profits from industry giants including Walmart, Target, and Home Depot. Along with a number of other tier 2 data releases this week, including the regional PMIs for August, which will provide an early indication of how the US economy is doing this month, the minutes from the Fed's July policy meeting are also scheduled to be released on Wednesday.

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