Weekly

The third wave of novel coronavirus outbreak occurred in Hong Kong, and 40 more local patients were diagnosed yesterday, among which 24 cases could not trace the source of infection. Affected by the epidemic, the government tightened social measures again,

People even panic, snapping up materials everywhere, and supermarkets have to make purchase restriction arrangements for specific goods. Some non-governmental organizations have visited thousands of Hong Kong citizens.

The results show that 40% of the respondents are unemployed. This survey is very shocking. Even if the standard deviation is reduced by 50%, 20% of the working population in Hong Kong will still lose their jobs because of novel coronavirus!

Not only our rising citizens but also American financial giants are affected by the epidemic. Yesterday, three American banks announced their results.

Among them, JP Morgan Chase, the largest bank in China, lost 51% in the last quarter, Citigroup lost nearly 73% in the quarter, and Wells Fargo recorded the first loss since the financial crisis in 2008.

It is worth noting that all three banks have made large provisions for bad and doubtful debts; This accounting arrangement conforms to the principle of accounting conservatism, but it does show the current economic weakness of the United States.

Affected by the quarterly results announced by three financial public enterprises, the US stock market fell first and then rose. The Dow Jones index closed at 26,642 points, up 556 points or more than 2%. Nasdaq index rose nearly 1%,

It closed at 10,488 points, up 97 points. Oil prices rose yesterday, and the market reported that OPEC+' s crude oil production reduction in June exceeded the original agreement.

Under the principle of supply and demand, the oil price in new york futures was pushed back to the level of $40, closing at $40.3 per barrel. The endless spread economic measures caused by the outbreak of novel coronavirus and the tense geographical situation,

US President Trump has just signed the Hong Kong Self-Governing Law and an executive order to remove Hong Kong's preferential treatment, in order to punish Beijing for its rude implementation of the Hong Kong National Security Law and its suppression of Hong Kong's human rights and freedoms.

The price of gold was flat yesterday, and it was announced last night that the core consumer price index of the United States still increased by 0.2%, which was better than the expected increase of 0.1%. The data offset the news of COVID-19 epidemic and geopolitical tension, and the price of gold dropped slightly by 0.7 USD to close at 1,809 USD per ounce.

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