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Finance Associated Press, April 20, what major events that may affect the capital market over the weekend? The highlights are summarized as follows:

Macro and market news

National Standing Meeting: We must continue to stabilize the stock market and continue to promote the steady and healthy development of the real estate market

Li Qiang presided over an executive meeting of the State Council on April 18, which pointed out that it is necessary to continue to stabilize the stock market and continue to promote the steady and healthy development of the real estate market. The National Standing Committee will put "sustained and stable stock market" before "continue to promote the stable and healthy development of the real estate market", releasing a change in the positioning of the capital market at the policy level. This time reflects the transformation from "emergency response" to "long-term governance" on the policy side, and reduces the occurrence of "document idling". The policy emphasizes "sustained stability", which means that the policy side does not rule out relay actions.

Executive meeting of the State Council: Study several measures to stabilize employment and economy and promote high-quality development

Li Qiang presided over an executive meeting of the State Council on April 18 to study several measures to stabilize employment and stabilize the economy and promote high-quality development. The meeting pointed out that in the face of the complex and severe external environment, it is necessary to thoroughly implement the deployment of the Central Economic Work Conference, strengthen the implementation of the policies and measures specified in the "Government Work Report", anchor the economic and social development goals, increase counter-cyclical adjustment, focus on stabilizing employment and foreign trade, focus on promoting consumption and expanding domestic demand, focus on optimizing structure and improving quality, strengthen the domestic cycle, and promote high-quality economic development. It is necessary to encourage enterprises to actively stabilize employment, increase the intensity of vocational skills training, expand support such as cash-for-work, and strengthen public services for employment. It is necessary to stabilize the development of foreign trade and foreign investment, increase support for one industry and one policy, and support foreign-funded enterprises for domestic reinvestment. It is necessary to promote the consumption of services such as pension, childbirth, culture, and tourism, expand effective investment, and vigorously boost the enthusiasm of non-governmental investment. It is necessary to continue to stabilize the stock market and continue to promote the steady and healthy development of the real estate market. Once the relevant measures are launched, they should reach the enterprises and the masses directly, improve the efficiency of the implementation, and ensure the implementation effect.

The United States announced the final measures of the Section 301 investigation in China's maritime, logistics and shipbuilding fields China's Ministry of Commerce: Urging the United States to correct its wrong practices as soon as possible

A reporter asked: On April 17, the Office of the US Trade Representative (USTR) announced the final measures for Section 301 investigations into China's maritime, logistics and shipbuilding sectors. What is the response of the Ministry of Commerce? Mofcom A: China urges the US to respect facts and multilateral economic and trade rules, abide by the principles of market economy and fair competition, stop shifting the blame, and correct its wrong practices as soon as possible.

Ministry of Commerce: Carry out the pilot application of "vehicle-road-cloud integration" to promote the large-scale construction of relevant infrastructure and the industrialization of intelligent networked vehicles

The Ministry of Commerce issued the "Comprehensive Pilot Work Plan on Accelerating the Expansion and Opening-up of the Service Industry", which mentions that the application pilot of "vehicle-road-cloud integration" will be carried out to promote the large-scale construction of relevant infrastructure and the industrialization of intelligent networked vehicles. Focusing on key industries such as intelligent networked new energy vehicles and high-end equipment, we will support business innovation and develop services such as maintenance, design, R&D, and leasing. Develop the leasing business of emerging targets, and explore the off-site supervision of relevant large-scale equipment.

Ministry of Commerce: Support multinational companies with investment or registration in the local area to carry out cross-border capital centralized operation business in RMB

The Ministry of Commerce issued the "Comprehensive Pilot Work Plan on Accelerating the Expansion and Opening-up of the Service Industry". Promote international cooperation in the financial sector. Expand the scope of business of financial institutions in an orderly manner, increase support for scientific and technological innovation and the development of small and medium-sized enterprises, improve the convenience of capital and financial account transaction capital flow in the balance of payments, and support multinational companies with investment or registration in the local area to carry out cross-border capital centralized operation business in RMB. Deepen the Qualified Foreign Limited Partner (QFLP) pilot. Innovate and develop new types of offshore international trade. Develop green finance and transition finance, and strengthen international cooperation on green finance.

Ministry of Commerce: It will expand the reform mandate of Guangdong, Tianjin, Fujian and other pilot free trade zones and give them new reform pilot tasks

Meng Huating, Director General of the Department of Free Trade Zone and Port of the Ministry of Commerce, said at a press conference on April 18 that in the face of the complex and severe international situation, the Ministry of Commerce will further implement the promotion strategy of the pilot free trade zone, give full play to the role of the comprehensive test platform for reform and opening up, carry out more pioneering and leading reform exploration, form more high-level institutional opening achievements, better serve the overall national strategy, and firmly respond to external risks and challenges. Meng Huating pointed out that the Ministry of Commerce will strengthen the classification guidance of the pilot free trade zone, expand the reform task authorization of the pilot free trade zones in Guangdong, Tianjin, Fujian and other pilot free trade zones, and give them new reform pilot tasks; Support qualified pilot free trade zones, and carry out integrated innovation of the whole industry chain around key industries such as biomedicine, equipment manufacturing, and marine economy; Strengthen the policy empowerment of the pilot free trade zones in the central and western regions and Yanbian, and support them to better play their exemplary and leading role in serving major national strategies.

Hangzhou: Adjust the rules for inquiring about the number of housing units that individuals purchase family housing to enjoy preferential deed tax

The Hangzhou Municipal Bureau of Housing Security and Real Estate, the Hangzhou Municipal Taxation Bureau of the State Administration of Taxation, and the Hangzhou Municipal Bureau of Planning and Natural Resources issued a notice on adjusting the inquiry rules for the number of housing units entitled to deed tax incentives for individuals purchasing family housing. The scope of inquiry on the number of housing units for the second housing deed tax concession is determined to be the administrative area of the district where the house is purchased. 2. This notice shall come into force on April 21, 2025. Before April 21, 2025, if an individual has not yet declared and paid the deed tax for the purchase of family housing, it can be implemented in accordance with the provisions of this notice.

Shanghai Mayor Gong Zheng met with Nvidia President and CEO Jensen Huang

Shanghai Mayor Gong Zheng met with Nvidia President and CEO Jensen Huang and his entourage on April 18. Gong Zheng welcomed world-renowned high-tech companies such as NVIDIA to seize the opportunity of China's super-large market and Shanghai's expansion of high-level opening-up, strengthen in-depth cooperation with local enterprises, and create a better future for scientific and technological development. Huang said the Chinese market is critical to Nvidia.

Ministry of Finance: In the first quarter, the national general public budget revenue was 6,018.9 billion yuan, down 1.1% year-on-year

According to data from the Ministry of Finance, in the first quarter, the national general public budget revenue was 6,018.9 billion yuan, down 1.1 percent year-on-year. Among them, the national tax revenue was 4,745 billion yuan, a year-on-year decrease of 3.5%; non-tax revenue was 1,273.9 billion yuan, a year-on-year increase of 8.8 percent. In terms of central and local governments, the central general public budget revenue was 2,433.2 billion yuan, down 5.7 percent year-on-year; The revenue of the local general public budget at the same level was 3,585.7 billion yuan, a year-on-year increase of 2.2 percent.

Industry news

Directly hit the Beijing Robot Half Marathon: Tiangong Ultra and Songyan Power won the championship and runner-up Yushu G1 accidentally fell and stood up

On Saturday, the world's first humanoid robot half marathon was successfully held in Yizhuang, Beijing, with a length of about 21 kilometers and a total of 20 robot teams participating. The reporter of "Science and Technology Innovation Board Daily" learned from the scene that Tiangong Ultra from Beijing Humanoid Robot Innovation Center and UBTECH took the lead in finishing the race 2 hours and 40 minutes after the start of the game, and the Songyan Power N2 robot of the Little Naughty Boy Team ranked second, and Shanghai Zhuoyide Walker No. 2 Robot won the third place. In addition, the reporter of "Science and Technology Innovation Board Daily" also learned from the competition site that Unitree Technology Robot G1 appeared at the finish line at about 12:30 and belonged to the inter-city science and technology team. It is reported that Unitree Technology did not officially participate in the competition this time, but the G1 robot purchased by a third-party customer participated in the competition, and the algorithm was adjusted by the customer itself.

Huang has concluded his trip to China People familiar with the matter said he did not meet with DeepSeek during the whole process

According to media reports on Saturday, reporters learned that Nvidia CEO Jensen Huang has ended his trip to China. In response to the intense concerns about whether Huang met with Liang Wenfeng, the founder of DeepSeek, the reporter confirmed from people familiar with the details of Huang's trip to China that Huang did not meet with DeepSeek during the whole process.

Shein and Temu inform U.S. consumers of price increases from April 25: tariff changes have led to higher operating costs

Affected by the U.S. tariff policy, two well-known e-commerce platforms are about to adjust prices in the U.S. Recently, the clothing e-commerce platform SHEIN (SHEIN) and Temu, a cross-border e-commerce platform under Pinduoduo, issued a notice on the official website saying that due to the recent changes in global trade rules and tariffs, operating expenses have increased, and in order not to reduce quality, price adjustments will be made from April 25, 2025. Prices will remain the same until April 25. Temu issued an almost identical notice, saying that its operating costs have risen and therefore will start raising prices from next week. The company also added that until then, the price will remain the same. However, neither platform disclosed the details of the increase.

Zheng Shajie, director of the National Development and Reform Commission, presided over a work conference on promoting low-altitude economic development

In order to thoroughly implement the decision-making and deployment of the Party Central Committee and the State Council, recently, Zheng Shajie, director of the National Development and Reform Commission, presided over a special meeting to promote the development of the low-altitude economy. Responsible comrades of relevant departments of the central and state organs and relevant departments of the Central Military Commission attended the meeting.

The Trump administration will impose an additional "port fee" on Chinese ships to build Foreign Ministry: Harm others and harm yourself

Foreign Ministry Spokesperson Lin Jian held a regular press conference. A reporter asked about the Trump administration's statement that it would impose "port fees" on Chinese-built ships. In this regard, Lin Jian said that we have already clarified our position on relevant issues many times before. I would like to reiterate here that the imposition of "port fees" and the imposition of tariffs on cargo handling equipment are harmful to others and to ourselves. We urge the US side to respect facts and multilateral rules and immediately stop its erroneous practices. China will take necessary measures to defend its legitimate rights and interests.

Hainan University released self-developed core technologies and products such as brain-computer interface chips China has achieved independent and controllable full-chain technology in the field of brain-computer interface

According to the official Weibo of the School of Biomedical Engineering of Hainan University on April 18, Hainan University officially released the core technology and series of products of implantable brain-computer interface (BCI) independently developed, including the world's leading brain-computer interface special chip, neural signal acquisition system, neural signal regulation system and neuronal localization system. This breakthrough marks China's realization of independent and controllable full-chain technology in the field of brain-computer interface, injecting "Chinese core" power into brain science research and medical applications. According to reports, the core technology of Hainan University has broken the dependence on imports, and its performance has reached the international top level. The brain-computer chip neural engineering team of Hainan University has developed a number of core chips around invasive brain-computer interfaces, including: SX-R128S4 high-throughput neural signal acquisition and stimulation chip, SX-S32 high-degree-of-freedom neuromodulation chip, and SX-WD60 low-power wireless transmission chip. The above-mentioned chips have realized the full-link coverage of brain-computer interface signal acquisition, regulation and transmission, and the performance is benchmarked against international first-line products.

Is the daily transaction volume of the RMB cross-border payment system increasing by day? Bank of China: The news spread on the Internet is untrue

There are rumors in the market that the single-day transaction volume of the Cross-border Payment System (CIPS) increased on April 17." On the morning of April 18, a relevant person from the Bank of China told a reporter from the Financial Associated Press that the relevant online news was untrue. As one of the important carriers of RMB internationalization, the RMB cross-border payment system has been in operation for nearly nine years this year, and is an important channel to promote the two-way opening of the financial market.

"One-stop" purchase of satellite software and hardware! The whole industrial chain of commercial satellites "supermarket" was launched

Recently, the China Academy of Space Technology released an excellent supply platform for commercial aerospace in Hangzhou, using the power of China's aerospace "national team" to help accelerate the development of China's commercial aerospace. The commercial aerospace excellent supply platform released this time is like a big supermarket of the whole industrial chain of commercial satellites, including commodity warehouses, online shopping malls, offline supermarkets, etc., through which relevant units and enterprises can purchase core satellite components, key equipment and even technical services.

15 tons of ginger were sold in 3 days, and foreign trade was transferred to domestic sales, and the merchants were "bright".

Jiao Liqian, the person in charge of Qingdao Litai Agricultural Products Co., Ltd., which focuses on overseas markets, is leading the team to transform into domestic sales. He told the "Science and Technology Innovation Board Daily" reporter that the first batch of 6.6 tons of ginger has been launched on RT-Mart. The reporter of "Science and Technology Innovation Board Daily" noticed that the video with the theme of "China Factory Revealed" has become popular on overseas social platforms such as TikTok, and has brought "sky-high traffic" to overseas e-commerce and related applications, including Taobao and Dunhuang. If domestic trade to foreign trade only relies on OEM, it is easy to be eliminated without core competitiveness. The product needs to have differentiated advantages, such as exclusive technology, unique design or price advantage, accounting for at least one of them in terms of appearance, technology and cost.

Company news

Sinnet: It is planned to invest 3.537 billion yuan in the construction of the third phase of Tianjin Baodi Cloud Computing Base

Sinnet (300383.SZ) announced on Friday that the company plans to invest in the construction of the third phase of the Tianjin Baodi Cloud Computing Base project. The project plans to build four standard data center buildings, one 110KV substation and related supporting facilities (comprehensive buildings, etc.), which is expected to support 140MW IT load (equivalent to about 31,800 4.4KW equivalent cabinets). The total investment of the project is about 3.537 billion yuan, and the implementation body is Sinnet (Tianjin) Information Service Co., Ltd., a wholly-owned subsidiary of the company.

Shijia Photonics: net profit in the first quarter was 93.19 million yuan, a year-on-year increase of 1004

Shijia Photonics (688313.SH) released its report for the first quarter of 2025, with an operating income of 436 million yuan, a year-on-year increase of 120.57%; The net profit attributable to shareholders of listed companies was 93.1944 million yuan, a year-on-year increase of 1003.78%. Driven by the demand for AI computing power, the data communication market is growing rapidly. The company adapts to market demand, the competitive advantage of products is highlighted, and customer recognition is improved. Orders for optical chips and devices, indoor optical cables, and cable polymer materials increased compared with the same period last year. Xiaocai note: The net profit in Q4 of 2024 will be 28.7243 million yuan, and according to this calculation, the net profit in Q1 will increase by 224.44% month-on-month.

Yitai B shares: It is proposed to make a 11.792 billion yuan offer to acquire 51% of the shares of ST Xinchao

Yitai B shares (900948) announced on Friday that the company plans to offer to acquire 3.468 billion shares of ST Xinchao at a price of 3.40 yuan per share, accounting for 51% of its total share capital. The investment amount is expected to be CNY 11.792 billion. The tender offer aims to gain control of ST Xinchao, improve its operational and management efficiency, and protect the rights and interests of investors.

Cambrian's Q1 revenue increased by more than 42 times to a new high, and inventories continued to increase

Cambrian (688256.SH) released the first quarter report of 2025, achieving operating income of 1.111 billion yuan, a year-on-year increase of 4230.22%; The net profit attributable to shareholders of the listed company was 355 million yuan, compared with a loss of 227 million yuan in the same period last year. Cambrian said that the performance growth is mainly due to the company's continued expansion of the market during the period, and actively help the application of artificial intelligence, and the financial report shows that Cambrian will continue to increase the stock of upstream chip products.

Smartway: net profit in the first quarter was 191 million yuan, a year-on-year increase of 1265

Smartway (688213.SH) released the first quarter report of 2025, achieving operating income of 1.75 billion yuan, a year-on-year increase of 108.94%; net profit attributable to shareholders of listed companies was 191 million yuan, a year-on-year increase of 1264.97%. The company's sales revenue in the fields of smartphones, smart security and automotive electronics have increased significantly. At the same time, the company controlled expenses, achieved cost savings and efficiency improvements, and improved profitability. Xiaocai note: The net profit in Q4 of 2024 will be 120 million yuan, and according to this calculation, the net profit in Q1 will increase by 60.21% month-on-month.

Shandong Huapeng: The company's shares may be subject to other risk warnings

Shandong Huapeng (603021.SH) announced on Friday that according to the "Shanghai Stock Exchange Stock Listing Rules", the company may be negative due to the last three consecutive fiscal years before and after deducting non-recurring gains and losses, and the audit report of the financial accounting report of the most recent fiscal year shows that there is uncertainty in the company's ability to continue operations, and the Shanghai Stock Exchange has implemented other risk warnings. The main reasons include the possibility that the company's 2024 annual report will be issued with an unqualified audit report containing material uncertainties related to continuing operations, and the company's accumulated overdue interest-bearing debt principal of about 791 million yuan, corresponding to debt interest and liquidated damages of about 86 million yuan. If other risk warnings are implemented, the company's shares will be suspended from the disclosure date of the annual report, and the decision will be made by the Shanghai Stock Exchange within 5 trading days.

Meierya: The company and its actual controller Zheng Jiping were filed by the China Securities Regulatory Commission on suspicion of illegal information disclosure

Meierya (600107.SH) announced on Friday that the company and its actual controller and chairman Zheng Jiping received the "Notice of Case Filing" issued by the China Securities Regulatory Commission on April 18, 2025. The Company will actively cooperate with the investigation and disclose relevant information in a timely manner in accordance with regulations.

Huayou Cobalt: Net profit in the first quarter increased by 140% year-on-year

Huayou Cobalt released a quarterly report, with operating income of 17.842 billion yuan, a year-on-year increase of 19.24%, and a net profit of 1.252 billion yuan, a year-on-year increase of 139.68%. The change in net profit was mainly due to the increase in product sales volume and the decrease in costs. Xiaocai note: The net profit in Q4 of 2024 will be 1.134 billion yuan, and according to this calculation, the net profit in Q1 will increase by 10.37% month-on-month.

Jubilee Technology: Net profit in the first quarter increased by 688% year-on-year

Jubilee Technology (300221.SZ) released the first quarter report of 2025, achieving operating income of 515 million yuan during the reporting period, a year-on-year increase of 30.18%; The net profit attributable to shareholders of listed companies was 17.9162 million yuan, a year-on-year increase of 687.67%. The main reason was the increase in customer orders for modified plastic products and smart lighting products, and the operating income and gross profit increased significantly compared with the same period last year. Xiaocai note: The net profit in Q4 of 2024 will be 12.2965 million yuan, according to which the net profit in Q1 will increase by 45.70% month-on-month.

Ping An Bank: net profit in the first quarter was 14.096 billion yuan, down 5.6% year-on-year

Ping An Bank (000001.SZ) released its report for the first quarter of 2025, achieving operating income of 33.709 billion yuan, a year-on-year decrease of 13.1%. net profit was 14.096 billion yuan, down 5.6% year-on-year. In the first quarter of 2025, the average interest payment rate of absorbed deposits was 1.81%, a decrease of 41 basis points from the same period last year and a decrease of 26 basis points from the whole of last year, and the cost of deposits continued to be optimized. At the end of March 2025, the non-performing loan ratio was 1.06%, unchanged from the end of the previous year. provision coverage ratio of 236.53%; The core Tier 1 capital adequacy ratio was 9.41%, an increase of 0.29 percentage points from the end of the previous year. Xiaocai note: The net profit in Q4 of 2024 will be 4.779 billion yuan, and according to this calculation, the net profit in Q1 will increase by 194.96% month-on-month.

The "sanitary napkin refurbishment" incident impacted the performance of manufacturers, and the growth rate of online revenue in Q1 of Baiya shares fell sharply

The impact of the "defective sanitary napkin refurbishment" incident on the performance of manufacturers has gradually become clear, and the industry leader Baiya shares (003006. In the first quarter of this year, in the case of overall performance growth, the company's e-commerce channel revenue growth rate dropped sharply to 8.6% year-on-year, underperforming the industry market.

Sanqi Mutual Entertainment's revenue and net profit increased last year, and the annual cash dividend was 2.2 billion yuan

Benefiting from the steady operation of a number of its evergreen games, Sanqi Mutual Entertainment achieved both revenue and net profit growth last year. It has more than 20 new games to be launched, including many big IP works. The company's cash dividends for the whole year last year will reach 2.2 billion yuan, an increase of 22% year-on-year. Sanqi Mutual Entertainment said that it will continue the continuous quarterly dividend plan in 2025.

Overseas news

Trump's approval rating on economic issues fell to the lowest level of his presidency, according to the survey

On April 19, local time, according to the U.S. Consumer News and Business Channel (CNBC), CNBC's latest national economic survey showed that due to widespread dissatisfaction with U.S. President Trump's handling of tariffs, inflation and government spending, his approval rating on economic issues hit a new low in his presidential career. It is reported that 49% of respondents believe that the US economy will deteriorate in the coming year.

The White House panicked! A working group will be set up to urgently deal with the crisis of imposing tariffs on China

CBS reported on April 18 local time that multiple sources revealed that due to the unusually high tariffs imposed by the Trump administration on Chinese goods, which will lead to a supply chain crisis, the Trump administration has begun to discuss the formation of a working group to urgently deal with these issues in the event of a breakthrough in negotiations with the Chinese government. No details have yet been finalized on the specifics of the group's establishment, but the task force is likely to include Vice President Vance, Treasury Secretary Bessant, Commerce Secretary Lutnik, White House National Economic Council Director Kevin Hassett, White House Council of Economic Advisers Chairman Stephen Millan and U.S. Trade Representative Jamison Greer, the sources said.

Britain unequivocally refuses to decouple from China

The British "Daily Telegraph" published an interview with British Chancellor of the Exchequer Rachel Reeves on the 18th, Reeves said in an exclusive interview that Britain should establish a deeper partnership with China, rather than setting up new obstacles, "China is the world's second largest economy, I think it is very stupid not to engage with it." This is the attitude of this administration. ”

Putin announced a temporary ceasefire for 30 hours during Easter

Putin said that the Russian army is progressing smoothly on the entire front. During Easter, the Russian army will cease all military operations from 18:00 on April 19 to 0:00 on April 21. Putin said the ceasefire was motivated by humanitarian considerations and out of hope that the Ukrainian side would do the same. At the same time, the Russian military must remain on high alert and be ready to respond to provocative actions and any acts of aggression by the enemy that may violate the ceasefire agreement.

Insider: The United States is ready to recognize Crimea as belonging to Russia

On Saturday, people familiar with the matter revealed that the United States is ready to recognize Russia's control of Crimea as part of a broader peace agreement between Russia and Ukraine. According to the report, this potential concession is the latest signal that US President Trump is eager to reach a ceasefire agreement between Russia and Ukraine. At the same time, he and U.S. Secretary of State Marco Rubio said on the 18th that the U.S. government is ready to abandon mediation efforts if rapid progress cannot be made. Ukrainian President Volodymyr Zelensky has repeatedly said that he will not cede territory to Moscow.

Trump said he would reach an agreement with China and everyone and was confident that China and the United States would reach an agreement

U.S. President Trump said on the 17th local time that he was confident that China and the United States would reach an agreement. U.S. President Donald Trump: "I think we're going to make a deal with China, we're going to make a deal with everybody." If we can't come to an agreement, then we set a goal, and then we set it, and that's fine. In the next three to four weeks, things should all be done. ”

Trump said he did not want tariffs to continue to rise

U.S. President Trump said on Thursday (April 17) local time that the situation of mutual tariffs imposed by China and the United States is expected to usher in a turnaround. "I don't want tariffs to continue to go up because when the price goes up to a certain point, people won't buy anymore," Mr. Trump told reporters at the White House, "so I probably won't raise taxes further, and I may not even want to get to the current level of taxation." Maybe I'd go for a lower tax rate because you want people to keep spending, and at some tipping point, people will stop buying. ”

Trump criticized Powell for playing politics and said that the president has the authority to dismiss the chairman of the Federal Reserve

U.S. President Donald Trump expressed strong dissatisfaction with the Fed's delay in cutting interest rates, and publicly rejected the agency's "independence", saying that he has the ability to remove Fed Chairman Jerome Powell. Asked about earlier social media remarks criticizing Powell's slow rate cuts, Trump told reporters in the Oval Office, "If I let him go, he's going to have to go." I'm not happy with him, and I've made it clear to him." In an earlier social media post, Trump said: "The sooner Powell steps down, the better!" ”。 A Fed spokesman declined to comment on Trump's remarks. In the Oval Office, Mr. Trump did not respond to a question about whether he was trying to remove Mr. Powell. He said Powell's performance had been "terrible."

Federal Reserve officials: interest rates may remain high for longer, but interest rates are still expected to be cut this year

On Friday (April 18), local time, San Francisco Fed President Daly said that due to rising inflation risks, the Fed may maintain the current interest rate level for longer than expected, but it is still possible to cut interest rates this year. Since December, the Fed has kept the target range for the federal funds rate at 4.25% to 4.50%. In its Summary of Economic Projections (SEP) released last month, the Fed maintained its forecast of two rate cuts this year.

Affected by Good Friday, U.S. stocks are closed on Friday

Due to Good Friday, the U.S. stock market was closed for one day, and trading in CME Group's precious metals, U.S. crude oil, foreign exchange and stock index futures contracts was suspended throughout the day, and trading in the Brent crude oil futures contract on the Intercontinental Exchange (ICE) was suspended throughout the day. The market will open as usual from next Monday, April 21.