The United States intends to cooperate with Huawei

The Dow Jones Industrial Average and the Standard and Poor's 500 index closed lower for the first time this week as investors weighed the prospect of restarting the economy and weak U.S. ADP employment data.

All three indexes opened higher, but were slightly weaker in late trading, with the Dow closing down 218 points, or 0.9 per cent, at 218.45 on Wednesday. The Standard and Poor's 500 index closed down 0.7 percent at 2,848.4 points. The Nasdaq composite rose 0.5 percent to 8,854.3, led by technology stocks.

6, Reuters quoted sources as saying,The Commerce Department is close to signing a new rule that would allow U.S. companies to work with Huawei to develop next-generation 5G network standards, which are in the final stages of the department's deliberations.

Affected by this,Huawei's concept stocks rose rapidly, with LightTech, Qualcomm, Intel, Western Data and TSMC up 1.48 percent, 1.60 percent, 1.30 percent, 0.73 percent and 0.81 percent, respectively.Among them, Meiguang Technology, Qualcomm at one point rose 3%.

A representative of Chinese manufacturers involved in the development of 5G standards told First Financial that Huawei has been strongly involved in the development of 5G standards. It's just not available (with U.S. companies), but you can communicate freely at the convention. "Even Huawei U.S. companies have not been allowed to have conference calls, e-mails, etc. with Huawei's standard colleagues." The above-mentioned person told reporters.

Another industry insider said that 5G standard-setting is done through the 3GPP standard organization, Huawei has been in it, but the ban under the two sides communication is very inconvenient, the U.S. new action should focus on allowing U.S. companies and Huawei to participate in the 5G discussion together in depth, so that U.S. companies in 5G construction to benefit more.

Wednesday's drop in oil prices ended a five-day winning streak and led to a 2.6 percent decline in the energy sector of the S.P. 500. Western Oil fell 12.5 per cent, while Hermerich and Payne fell 6.1 per cent.

WTI crude futures for June delivery fell 2.3 percent, or 53 cents, to $23.99 a barrel. At one point in the previous session, it surged 20 per cent. Brent crude also fell 4 percent to $29.06 a barrel.

In addition, California will allow clothing stores, bookstores and flower shops to reopen as early as Friday to pick up goods on the side of the road, while New York plans to ease restrictions on manufacturers, construction and some retailers next week. This easing of restrictions has led investors to bet that the economy will restart in the near future.

Despite the gradual lifting of the blockade in many areas, markets are keeping a close eye on the latest developments in the new crown outbreak. According to real-time data from Johns Hopkins University in the United States,As of about 6:30 P.M. Beijing time on May 7, a total of 3742,665 cases have been confirmed worldwide and 262,709 deaths have been reported. A total of 1223419 cases and 72812 deaths were confirmed in the United States.Compared with the previous day's 6:30 data, there were 22,082 new confirmed cases and 1965 new deaths in the United States.

On Tuesday, U.S. President Donald Trump acknowledged that blindly opening up the U.S. economy despite the advice of many health experts would inevitably cost Americans their lives. But he insists that the economic benefits of re-opening the economy will outweigh the costs.

Mr. Trump said the new virus outbreak hit the United States more severely than japan's attacks on Pearl Harbor during World War II and the September 11, 2001 attacks.

However, recent economic data continue to show the devastating economic damage caused by the new crown outbreak.On May 6th local time, the US reported that ADP employment fell by 20.236 million in April, the biggest drop on record, after falling by 27,000.

A report by ADP and Moody's Analytics showed private-sector employment fell by 20.2 million last month, the worst number since a survey began in 2002.

Responding to the high unemployment rate, Mr. Trump called the surge in U.S. unemployment "a fabrication" and said no one had blamed him for the high number of U.S. unemployed and that jobs would pick up.

Guest Qin Yi's point of view

1. Apple Microsoft Amazon Google Facebook market value accounts for 20% of the total market value of SP500

Amazon: Quarterly GMV growth of $18 billion (from $44 billion and $47 billion in 2018 and 2019), 2QEBIT outlook of $1.5 billion (investment in logistics and protection equipment, $1 billion new crown virus testing, increased competitive advantage), quarterly cloud revenue AWS $10 billion, EBIT $3.1 billion (bad debt pulls down profit margins), increased hiring to accelerate the transformation of the cloud; Microsoft: Enterprises increase cloud capital expenditure, 2Q outlook revenue growth of 9%-11%, AZURE yoY plus 60%, office 365 pay 258 million, Microsoft TEAM obtained 75 million days live, up to 200 million in a single day in meetings; BING search slowed significantly; Google: advertising fell by double digits in March, YOUTUBE maintained high growth in the first three months; DR advertising ratio expansion will increase revenue elasticity; quarterly buyback of $8.5 billion; Facebook: 3 billion connected users, 8 million ad users, 8-10% revenue growth in 2020; Apple: Apple App Store growth in April - 30% YOY, monthly revenue of $1.7 billion, games accounted for 70%;

2. Global Manufacturing PMI: Global Manufacturing PMI fell to 39 in April, the United States and Europe are expected to open in May, Production and new orders both fell significantly in April;

3. Germany's opposition to the European Central Bank's stimulus: Germany's Constitutional Court challenged the European Central Bank's asset-buying program, requiring it to prove that it was legitimate within three months; Germany's 10-year bond -0.56 percent; France's 10-year -0.06 percent; Italy's 10-year 1.84 percent; Germany's BMW cut its earnings forecast; and 3 cruise capital markets raised $400 million, $1.136.4 million for Norwegian cruise ships.

A list of overseas

Olga Ljubimova, Russia's culture minister, contracted new crown pneumonia

On the 6th local time, Russian Culture Ministry press secretary Anna Usacheva told the media that Culture Minister Olga Ljubimova has been confirmed to be infected with new crown pneumonia. It is said that Ljubimova's condition is a minor illness, has been living at home for a long time, video to participate in various working meetings, it is not known whether she received hospital treatment.

Niger's Minister of Employment, Labour and Social Security has died of neo-crown pneumonia

According to CCTV news, local time 5, Niger's state television announced that the government's Minister of Employment, Labour and Social Security Mohammed bin Omar, suffering from neo-crown pneumonia, died in a hospital in the capital Niamey on the 3rd local time, aged 55. He has held the post since 2017. As of the evening of the 5th local time, a total of 763 cases of neo-crown pneumonia have been confirmed in Niger, of which 38 have died and 543 have been cured.

New Delhi, India, announced on the 5th that it will raise the alcohol tax to 70%.

According to CCTV Finance, in order to prevent crowds, New Delhi, India announced on the 5th will raise the alcohol tax to 70%. Although the anti-epidemic blockade in New Delhi, India, is valid until May 17, but the local government on the 4th partially relaxed controls, allowing some shops, including liquor stores to reopen, early in the day, New Delhi residents flocked to the liquor store to buy wine, they ignored the rules on the queue, pushed the collision, the scene was chaotic, the police had to use batons to disperse the crowd.

A 37-year-old Chinese researcher shot dead in the United States is studying the new coronavirus

On May 2, Liu Bing, a 37-year-old Chinese researcher at the University of Pittsburgh, was shot and killed at his home. His university said the victims were on the verge of making "significant discoveries" in the study of the new coronavirus. Police found another male victim in a car near the scene of Liu Bing's murder. Police said the two men knew each other and believed the second victim had shot Liu Bing and then shot himself, and police are investigating a motive.

New research: 30% of the world's population will face extreme heat in 2070

A study published in the Proceedings of the National Academy of Sciences shows that for 6,000 years, most humans have lived in climates with an average annual temperature of 11-15 degrees Celsius, and as a result of warming, the average temperature of the human environment will rise by 7.5 degrees Celsius by 2070. This means that 50 years from now, nearly a third of the world's population is likely to live in temperatures above 29 degrees Celsius per year, with nearly 3.5 billion people facing extreme heat.

Financial news

State Council: Allow small micro-enterprises and individual industrial and commercial households to pay income tax

The Standing Committee of the State Council, convened on May 6, called for the timely introduction and improvement of relevant policies in accordance with changes in the situation and the demands of enterprises. First, for the current epidemic has not passed, allowing small micro-enterprises and individual industrial and commercial households to delay the payment of income tax;

The State Council approved the establishment of a comprehensive pilot zone for cross-border e-commerce in 46 cities and regions

On May 6, the State Council issued "Approvals on Agreeing to Establish a Comprehensive Pilot Zone for Cross-Border E-Commerce in 46 Cities and Regions, including Xiong'an New Area." According to the document, the State Council agreed to set up a cross-border e-commerce comprehensive test zone in 46 cities and regions, including Xiong'an New Area, Datong City, Manchuria City, Yingkou City and Panjin City.

The first phase of The Sino-US economic and trade agreement gradually landed from the United States imports of soybeans rebounded

According to the Global Times, China is still implementing the first phase of the trade agreement signed by China and the United States at the beginning of the year, despite the impact of the new crown pneumonia outbreak on global trade and economy. Zhang Xiaoping, china's chief representative of the U.S. Soybean Export Association, said Chinese companies purchased more than 1.1 million tons of U.S. soybeans between mid-to-late March and mid-April. "

Ministry of Human and Social Affairs: The country issued unemployment insurance to 3.2 million enterprises and returned 42.3 billion yuan

Xinhua News Agency reporter 6 from the Ministry of Human Resources and Social Security was informed that at present, the country to 3.2 million enterprises to issue unemployment insurance to return 42.3 billion yuan, benefiting 85.13 million workers. The number of beneficiary enterprises is three times that of the whole of last year, the average number of beneficiary enterprises is 27, and the benefits of small and medium-sized enterprises have expanded significantly.

Important natural gas discoveries in the Sichuan Basin are expected to exceed trillion cubic meters of resources

China Petroleum Southwest Oil and Gas Field Corporation recently discovered a new zone rich in natural gas, with an estimated potential of more than trillion cubic meters of resources. This means that a new gas-scale replacement zone will be opened up in the middle of the Sichuan basin.

National Health And Wellness Commission: The number of close contacts across the country has dropped below 7,000

On May 5, the number of close contacts still under medical observation dropped to less than 7,000, or 3.7 percent at its peak, said Mi Feng, a spokesman for the National Health And Wellness Commission and deputy director of the Propaganda Department.

From May 9, Hangzhou out-of-school training institutions can resume offline training activities after passing the inspection

On May 6, the Office of the Leading Group for the Prevention and Control of new coronavirus pneumonia outbreaks in Hangzhou Issued a Notice on the Orderly Recovery of Offline Training Activities of Off-Campus Training Institutions, according to the Notice, all types of out-of-school training institutions in Hangzhou City have been verified to meet the standards for resumption of classes (retraining), and offline training can be resumed from May 9.

Macao will implement the new crown pneumonia routine nucleic acid testing program for the first time free of charge

Macao's new coronavirus response coordination center said on the 6th, in order to ensure the safe movement of people entering and leaving the country, Macao will be on May 7 at 9 a.m., the implementation of the new coronary pneumonia routine nucleic acid testing program. All Macao residents are exempted from the first nucleic acid test fee, cross-border students and teachers are exempted from the nucleic acid test fee every 7 days, and the remaining residents are exempted from the cost of 180 patacas per test.

Zhang Wenhong: The earliest vaccine results should be announced by the end of this year or early next year

Zhang Wenhong, head of the Shanghai Xinguan Pneumonia Medical Treatment Expert Group, said that according to the current schedule of Phase III clinical studies and the schedule of Phase II clinical studies in China, the world's earliest vaccine results should be announced around the end of this year or early January next year. If all the data is ideal, it should be between March and June next year if the FDA or China's CFDA can be declared approved.

Hubei punished more than 3,000 outbreak prevention and control cadres, including more than 10 bureau-level

According to the China Discipline Inspection And Supervision Magazine, the 9th issue of china Discipline Inspection And Supervision Magazine, published on May 1st, published an article by Ye Zhiqiang, deputy director of the Party Wind and Political Affairs Supervision Office of the Hubei Provincial Commission for Discipline Inspection, "The accountability of the epidemic insists on seeking truth from facts to highlight the temperature of human nature." The article mentioned that from the outbreak occurred as of mid-April, Hubei Province in the prevention and control of the outbreak of dereliction of duty party members, cadres more than 3000 people, including more than 10 people at the bureau level, more than 100 people at the county level.

Citic Bank apologized to Mr. Ikechi on its official microblog

Regarding Mr. Wang Yuechi (art name "Pool") through the micro-blog to reflect his personal account transaction information was transferred, verified by our bank, recently Shanghai Laughing Fruit Culture Media Co., Ltd. contacted the account branch, asked to inquire about his employees Mr. Wang Yuechi paid labor wage records, our staff did not strictly follow the rules, provided Mr. Wang's collection records. In this regard, we solemnly apologize to Mr. Wang!

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