On the macroeconomic front, the number of new claims for unemployment benefits in the United States has unexpectedly soared. In the week ended May 4, the number of initial claims for unemployment benefits recorded 231000, the highest since November 2023, with a previous value of 209000; as of the week ended April 27, the number of renewed claims for unemployment benefits reached 1.785 million, with a previous value of 1.768 million. Of these, applications surged by 10248 in New York, California, Illinois, Indiana and TexasCatscrasharenaturbostarsThe number of applications has also increased significantly.

The Michigan consumer confidence index fell unexpectedly sharply in May, with inflation expectations exceeding expectations for one year and five years. The University of Michigan's consumer confidence index hit a six-month low of 67.4 in May, well below expectations of 76.2 and well below 77.2 before April. Consumers' assessment of the terms of purchase of durable goods fell to their lowest level in a year, while their views on their finances and the short-term and long-term economic outlook of the United States declined, according to the report. The inflation expectation survey released at the same time shows that the initial inflation expectation for one year is 3.5%, the highest level in six months, which is much higher than the expected 3.2%, compared with 3.2% before April. The initial inflation expectation for five years is 3.1%, which is also higher than the expected 3%, and the pre-April value is 3%.

Correlation of major indices

1. Weekly index performance

Last week (May 6-10), the Nasdaq 100 index rose 1.51%, and the S & P 500 index rose 1.85%. All 11 industry sectors covered by it rose, with utilities leading the way up 4.03%.

2. Configuration direction

Us stocks: us stocks continued to rise slightly last week, with higher-than-expected initial jobless claims, lower-than-expected non-farm payrolls and vacancy data, and markets began to expect Fed interest rate cuts to come sooner. In terms of financial performance, 75% of the 92% of the S & P 500 companies that have reported quarterly earnings still beat market consensus expectations. The current CME rate cut expectations show that the first rate cut is still in September, and the number of interest rate cuts for the whole year has fallen to about 1.6 times. As the earnings season draws to a close, keep an eye on this week's CPI data to see if inflation is cooling and whether the Fed can cut interest rates by the end of the year.

Global markets: stocks turned to outflows, bonds continued to flow in, and money markets turned to inflows; inflows from the United States and developed Europe narrowed, while outflows from Japan and emerging markets narrowed.

Cross-market and asset: cross-market: inflows from the United States and developed Europe narrowed, while outflows from Japan and emerging markets narrowed. From the perspective of active foreign investment, the inflows of US stocks and developed Europe have narrowed, emerging markets continue to flow out, and Japan turns to outflow. Of this total, U.S. stock inflows narrowed slightly to $1.09 billion (vs. The previous week's inflows were $1.12 billion), developed Europe turned to inflows of $20 million (vs. The previous week inflows were $920 million), and emerging market outflows narrowed to $230 million (vs. The previous week outflows were $630 million). Over the same period, the Japanese market turned to outflows of $50 million (vs. Inflows of $140 million the previous week). On the asset side, global equities turned to outflows, bond markets continued to flow in, and money markets turned to inflows.

Boshi S & P 500ETF (513500) is a domestic ETF product that tracks the S & P 500 index in the United States. Through ETF, an investment tool with low management costs and efficient foreclosure trading model, it helps domestic investors capture the growth gains of US stocks. You can also choose Boshi S & P 500ETF linked funds (A 050025 C 006075).

The US S & P 500 index is recognized as a weather vane for US stocks in the international market, covering more than 500 representative listed companies in 11 industries in the United States, focusing on large-cap stocks in the market, accounting for about 80% of the total market capitalization of the US stock market.

Bosch NASDAQ 100ETF (513390) is a domestic product that tracks the NASDAQ 100th index of the United States. According to the official website of the Nasdaq index, the information technology industry accounts for 57.87% of the industry distribution, which is the main component of the index. in addition, it is distributed in consumer services, consumer goods, health care and other industries. From the top ten stocks of the index, they are all high-quality high-tech enterprises.

Disclaimer:

The information in this report is derived from public information, and we do not guarantee the accuracy and completeness of such information. In any case, the information or opinions expressed in this report do not constitute the actual investment results of our company, nor do they constitute any investment recommendations to investors.

The sources of the data in this report, if not specified, are from Wind and are dated as of May 10, 2024.

The copyright of this report belongs to Bosh Fund Management Co., Ltd.

Investment is risky, please choose carefully.

Risk hint: funds are different from financial instruments with fixed income expectations such as bank savings and bonds, and the risk returns of different types of funds are different. Investors may not only share the income generated by the fund investment, but also bear the losses caused by the fund investment. The fund manager undertakes to manage and use the fund assets according to the principle of good faith and diligence, but does not guarantee the profit or income of the fund. The net value of the fund is at risk of fluctuation.CatscrasharenaturbostarsHis fund performance does not constitute a guarantee of the fund's performance, and the fund's past performance does not predict its future performance. Investors should carefully read the legal documents such as "Fund contract", "prospectus" and "Product Summary", and pay attention to the appropriateness opinions issued by the company in a timely manner, and the opinions of various sales organizations on appropriateness are not necessarily unanimous. The company's appropriateness matching opinion does not indicate a substantial judgment or guarantee on the risk and return of the fund. In the fund contract, the characteristics of risk and return of the fund and the risk grade of the fund are different due to different factors to be considered. Investors should understand the risk and return of the fund, make prudent decisions and bear their own risks in the light of their own investment purpose, term, investment experience and risk tolerance, and should not accept sales practices and illegal publicity and promotion materials that do not meet the requirements of laws and regulations. The fund details and purchase channels mentioned in this material can be found on the official website of the manager-Boshi Fund-Fund products. The website for introducing the business qualifications of Boshi Fund is http.Catscrasharenaturbostars: / / www.bosera.com/column/index.doCatscrasharenaturbostars? classid=00020002000200010007 .

Specific risk warning: When investing in overseas securities, this product not only needs to bear general investment risks such as market fluctuation risks similar to domestic securities investment funds, but also faces special investment risks such as exchange rate risks faced by overseas securities market investment.