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Qualcomm (QCOM.O) shares rose as much as 12%.
According to Hong Kong Stock Exchange documents, Xiangdao Mobility (Shanghai) Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.
According to Hong Kong Stock Exchange documents, Jiangsu Xinde Semiconductor Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.
Federal Reserve Governor Waller: We want to implement an adequate reserve system.
Federal Reserve Governor Waller: Rising bond yields may help curb inflation.
Federal Reserve Governor Waller: We cannot go back to the small balance sheet we had in 2008.
Federal Reserve Governor Waller: If short-term expectations rise, that's worrying and may require action.
Federal Reserve Governor Waller: We generally prefer to look at market-based measures of inflation expectations.
Federal Reserve Governor Waller: If inflation expectations rise over 2, 3, or 4 years, that's a problem for me.
The gains of the three major U.S. stock indexes narrowed, with the S&P 500 falling to an intraday low after rising more than 0.7% earlier.
On May 22nd, the US consumer confidence index fell to a record low in May, impacted by the war with Iran, and long-term inflation expectations also deteriorated significantly. Data showed that the final reading of the University of Michigan's consumer confidence index for May fell to 44.8, with consumers expecting an annualized price increase of 3.9% over the next five to ten years, up from 3.5% in April and reaching a seven-month high. They also expect prices to rise by 4.8% over the next year. Gasoline prices continue to hover near their highest levels since 2022, exacerbating Americans' concerns about rising living costs and the failure to reach an agreement to end the war. The impact of inflation on household budgets, especially for low-income consumers, poses a risk to future consumption prospects. Joanne Hsu, the survey's director, stated, "The cost of living remains the top concern, with 57% of respondents indicating that high prices are eroding their personal finances, up from 50% last month." She added, "The key is that consumers seem worried that inflation will not only spread to areas beyond fuel prices, but that this upward trend may continue for a long time to come."
May 22nd - Market pricing indicates that traders have fully priced in a 25 basis point rate hike by the Federal Reserve by the end of 2026. In related news, Federal Reserve Governor Waller stated that the Fed should not signal further rate cuts and should remain on hold for the foreseeable future.
On May 22, 2026, Uplink Securities (formerly Tiger Brokers) announced that some of its subsidiaries received a notice from the Beijing Regulatory Bureau of the China Securities Regulatory Commission (CSRC). The notice stated that the CSRC had launched an investigation into these subsidiaries for suspected illegal activities in the securities, fund, and futures businesses, and discovered that they had engaged in unlicensed cross-border securities business and illegal fund and futures-related activities in mainland China. Based on the investigation results, the Beijing Regulatory Bureau imposed administrative penalties totaling approximately RMB 308.1 million and confiscated illegal gains totaling approximately RMB 103.1 million. Mr. Wu Tianhua, the company's director, CEO, and actual controller, also received a warning and was fined RMB 1.25 million. As of the end of 2025, retail client assets in mainland China accounted for approximately 10% of the company's total client assets in its consolidated financial statements.
The yield on the two-year U.S. Treasury note is near its intraday high, currently at 4.123%.
On May 22, Federal Reserve Governor Jerome Waller stated on Friday that given the growing risks of inflation, the Fed should no longer consider further interest rate cuts as a default plan. This comes after Waller's support for rate cuts in January. In a speech, Waller said that with the ongoing conflict in the Middle East, rising costs of oil and other commodities are increasingly likely to trigger broader and more persistent inflation in the economy. He stated that it is time for the Fed to stop signaling that its next move is most likely another rate cut. Waller indicated that maintaining interest rates in the current range of 3.5% to 3.75% is likely the right approach for the foreseeable future. He added, "If inflation does not subside quickly, I cannot rule out the possibility of future rate hikes."
Federal Reserve Governor Waller: No changes to policy rates should be expected in the near term; the outcome will heavily depend on the duration of the conflict in Iran. Inflation faces the risk of becoming more persistent, and price pressures are increasing.
The U.S. Conference Board Lagging Index rose 0.4% month-on-month in April, down from 0.3% in the previous month.
The U.S. Conference Board Coincident Economic Index rose 0.3% month-on-month in April, unchanged from the previous month.
Federal Reserve Governor Waller: The current stance is to keep interest rates stable in the near term.
The US Conference Board Leading Economic Index was 97.4 in April, up from 97.3 in the previous month.
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Apr 20, 2023 13:54