(Reuters) - European shares fell on Tuesday as investors turned cautious ahead of a speech by Federal Reserve Chair Jerome Powell after two U.S. central bank policymakers struck hawkish tones overnight.
The pan-European STOXX 600 slid 0.7% by 0811 GMT. The index had hit its highest level in eight months in the previous session
Powell's speech later in the day was on investors' radar after Fed policymakers said they expected the Fed policy rate — now at 4.25% to 4.5% — to need to rise to a 5%-5.25% to rein in inflation
Kaki judi not many want to chase the price leh. Naik sikit turun balik. No confident to chase like this leh. Ada sikit profit only they run road leh. How lah. Haiyoh.. Correct?
Sharewire
Crack spread higher At the moment hengyuan still sleeping
Tesla China recently reduced the prices of its Model 3 and Model Y, inciting the frustration of previous buyers and driving an uptick in new customers. On January 9, Grace Tao, global vice president of Tesla, attempted to clarify the company’s pricing logic. The following content is based on an article by Chinese media outlet AutoReport published on January 10.
The latest price drop is the fourth made by Tesla China since September last year, but it cannot be ignored that some Tesla models have also experienced six consecutive price increases in the past year.
Tao said, “The adjustment of the price of a product is actually a prediction of the cost change of the enterprise in the next period of time. The biggest difference between 2023 and last year is that the pandemic has basically passed. We believe that the supply chain has returned to normal to a great extent, and there will be no unpredictable shortage of materials as in previous years, which will bring uncertainty in cost. Compared with last month, consumers think that our prices have dropped a lot. In fact, the price last month rose.”
As for the price adjustment since then, she believed that the localization rate of Tesla’s supply chain in China has reached 95%, and theoretically there is not much room for improvement, so after this adjustment, prices would be relatively stable.
On the weekend after Tesla announced the price drop, some stores and delivery centers across the country were the recipients of car owners’ complaints and demands for compensation.
Tao said that the firm has used some relatively new ideas, such as a direct sales mode and price adjustments. Under the direct sales mode, prices are completely open and transparent, with no discount or price increase. As everyone gradually understands why Tesla wants to do this, Tao believes that they may eventually get used to it.
Some insiders speculated that Tesla’s price reduction is because the growth rate of orders has failed to keep up with its increasing production capacity. After the price reduction, the estimated delivery time of its Model Y has changed from “1-4 weeks” to “2-5 weeks,” which reflects this view.
You may see that there are some differences between our output and sales volume, mainly because of our large scale, for example, some cars are on the way to transportation. I think this is very normal. The delivery cycle is related to effective working hours. For example, there is a holiday during the Spring Festival, so the whole January only has about two weeks to work. It is unlikely to reach full production,” said Tao.
On January 1 this year, China abolished a subsidy policy for new energy vehicles that had lasted for more than 10 years, and brands including BYD, Chery, Changan Automobile and Leapmotor have increased their prices to varying degrees. On January 9, Li Xiang, the founder, chairman and CEO of Li Auto, said on social media that the largest consumer group of its L7 model, which will be launched on February 8, is previous Tesla buyers.
Tao said that Tesla has never regarded other electric vehicle companies as competitors, and believes that all manufacturers should work together to perfect products and meet the needs of customers in different market segments.
"Price stability is the bedrock of a healthy economy and provides the public with immeasurable benefits over time. But restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy," the chair said in prepared remarks.
"The absence of direct political control over our decisions allows us to take these necessary measures without considering short-term political factors," he added.
Powell's remarks came at a forum to discuss central bank independence, and were to be followed by a question-and-answer session.
The speech did not contain any direct clues about where policy is ahead for a Fed that raised interest rates seven times in 2022, for a total of 4.25 percentage points, and has indicated that more increases likely are on the way this year.
While criticism of Fed actions by elected leaders is often done in quieter tones, the Powell Fed has faced vocal opposition from both sides of the political aisle.
Takda hint from Powell leh. No wonder Cowgirl takda nampak knee jerk reaction leh. Anyway Ular still wtg to buy back the saham at lower price lagi. Ada sikit discounted price already. Tapi Ular want better discounted rate leh. Haiyoh. Boleh?
Good morning sekalian. Arini ular bangun tenguk cowgirl takda red leh. Abit disappointed tak dapat beli balik saham at discounted price leh. Nvm lah. Cowgirl continue green hope Bursa juga can green balik lah. Continue bursa side pecah 1500 again. Ular tunggu lagi 2 ctrs to give angpow lagi leh. Arini can give kah. Hope so lah. CNY pun getting nearer liao mah. Haiyoh. Boleh?
* Indexes: Dow up 0.6%, S&P 500 up 0.7%, Nasdaq up 1%
NEW YORK, Jan 10 (Reuters) - U.S. stocks ended solidly higher on Tuesday, led by a 1% gain in the Nasdaq, on relief that Federal Reserve Chair Jerome Powell refrained in a speech from commenting on rate policy.
In his first public appearance of the year, Powell said at a forum sponsored by the Swedish central bank that the Fed's independence is essential for it to battle inflation.
Recent comments by other Fed officials have supported the view that the central bank needs to remain aggressive in raising interest rates to control inflation. Fed Governor Michelle Bowman said on Tuesday the bank will have to raise interest rates further to combat high inflation.
"Everybody hangs on every word from the Fed," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. Powell "didn't really say anything" about policy, he added.
Investors anxiously awaited the U.S. consumer prices index report Thursday, which is expected to show some moderation in year-on-year prices in December.
Traders are betting on a 25-basis point rate hike at the Fed's upcoming policy meeting in February.
"There are some indications that inflation is slowing significantly. What investors are really looking for is a gap down in major inflation data that could probably get the Fed's attention," Ghriskey said.
Amazon.com Inc. shares rose 2.9% and gave the Nasdaq and S&P 500 their biggest boosts.
The Dow Jones Industrial Average rose 186.45 points, or 0.56%, to 33,704.1; the S&P 500 gained 27.16 points, or 0.70%, at 3,919.25; and the Nasdaq Composite added 106.98 points, or 1.01%, at 10,742.63.
No Ular not a promoter leh. Ular takda open judi table at here leh. Cannot judi at here also leh. Sudah cakap long ago the reason leh. Haiyoh. Correct?
Ular never ask anyone to believe ular leh. Ular lepaking more only leh. Why you so beh song ular lepaking kah. Then ada siapa believe you or not. Ingat pun takda juga leh. Haiyoh. Correct?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
brightsmart
3,784 posts
Posted by brightsmart > 2023-01-10 11:18 | Report Abuse
Cny still on la....can travel some more....got celebrations. After 3 years covid people want to celebrate