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On November 14th, CICC released a report stating that Bilibili (09626.HK) reported a 5% year-on-year revenue increase to RMB 7.69 billion in the third quarter, exceeding CICCs forecast of RMB 7.61 billion. Non-GAAP net profit reached RMB 787 million, better than CICCs forecast of RMB 563 million, mainly benefiting from rapid growth in advertising revenue and better-than-expected gross margin performance. Based on the improving gross margin trend, CICC raised its 2025 and 2026 net profit forecasts for Bilibili by 7.8% and 2.3% respectively, to RMB 2.44 billion and RMB 3.06 billion. CICC raised its target prices for Bilibilis US-listed shares and H-shares by 7.4% and 7.8% respectively, to US$29 and HK$220, maintaining its "Outperform" rating.November 14th - It was learned on the 13th local time that Trinidad and Tobagos Attorney General John Jeremy stated that the 22nd Marine Expeditionary Unit will "intensify exercises" in the country "in the coming days." In late October, Venezuelan President Maduro announced the suspension of progress on a natural gas cooperation agreement with Trinidad and Tobago. Maduro stated that this decision was in response to Trinidad and Tobagos support for the USs so-called "anti-drug" operations in the Caribbean. Trinidad and Tobago are separated from Venezuela by the Gulf of Paria, with their coastlines at their closest point only about 10 kilometers apart.On November 14th, the overnight SHIBOR was 1.3630%, up 4.80 basis points; the 7-day SHIBOR was 1.4680%, down 0.60 basis points; the 14-day SHIBOR was 1.5090%, up 0.90 basis points; the 1-month SHIBOR was 1.5180%, unchanged from the previous trading day; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.JD.com (09618.HK) fell more than 5%, with the companys Q3 revenue reaching RMB 299.059 billion, a year-on-year increase of 14.9%.On November 14th, Goldman Sachs stated that global oil demand growth will continue for longer than previously expected, driven by strong energy demand. Earlier this week, the International Energy Agency (IEA) softened its forecast that oil demand was nearing its peak. In a report published Thursday, Goldman Sachs analysts Yulia Grigsby and Daan Struyven wrote that global oil demand will grow from 103.5 million barrels per day in 2024 to 113 million barrels per day in 2040. The bank had predicted last year that demand would peak in 2034, but also noted that the peak could be delayed by six years due to the slowdown in the adoption of electric vehicles. Goldman Sachs attributed its revised peak demand forecast to bottlenecks in low-carbon technologies and infrastructure, as well as the growth in energy demand. The bank pointed out that after a prolonged plateau in oil demand from road transportation, petrochemical products will become a key driver of oil consumption, with the aviation industry also making a significant contribution. However, Goldman Sachs also warned that long-term oil demand forecasts are highly uncertain and often subject to significant revisions, with the main risks stemming from the accelerated progress of low-carbon technologies and the lingering impact of a potential economic recession.

S&P 500 (SPY) Gains Ground As Rebound Continues

Florala Chen

Oct 19, 2022 16:33

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S&P 500 rose more than 1% on widespread rebound

After touching the 3760 resistance level, the S&P 500 lost pace and drew back toward the 3720 level. Stocks nonetheless managed to post respectable gains for the day.


Stocks received significant support from the Industrial Production data, which showed that Industrial Production climbed by 0.4% month over month in September. But it seems that the stock market's primary driver today was the continuance of the technical bounce.


One of today's largest gainers was the cruise industry. Today's gains ranged from 7 to 11% for Royal Caribbean Cruises, Norwegian Cruise Line Holdings, and Carnival Corporation.


After exceeding analyst earnings expectations and expanding stock repurchases, Lockheed Martin saw an 8% increase. Salesforce increased by more than 4% after Starboard Value's purchase of a stake in the business.


Interestingly, despite the significant sell-off in the oil markets, top energy equities like Exxon Mobil and Chevron did not decline.


From a wide perspective, the recovery was significant, and all market sectors rose. Traders kept looking for discounts and purchasing undervalued stocks.


Following the release of its earnings report, Netflix shares climbed near $275 in the after-market session. The firm posted profits of $3.19 per share and sales of $7.48 billion, both of which were higher than analysts' estimates. Regarding the fourth-quarter forecast, Netflix said that the persistently high dollar posed a substantial obstacle. Netflix anticipates reporting revenue of $7.8 billion for the last quarter of current year.


The shares of United Airlines rose to $40 in the after-market session after the airline's earnings topped analysts' expectations. The business said that despite the difficulties of the recession, robust COVID recovery patterns will continue. Previously, traders were concerned that consumer spending would be harmed by recession worries, but it seems that demand for air travel is still high.