LB Pre-market | Twitter fell 6.8%，Musk dropped his bid；China NEV production and sales hit a record in June

News

1. The OECD has encountered technical difficulties in developing legal instruments to change the global tax treaty.

2、China's new RMB loans in June 2.81 trillion RMB, the previous value was 1.8836 trillion RMB; China's M2 money supply in June was 11.4% year over year, the previous value was 11.1%.

3、Blinken said that the US expects that the heads of state of China and the US may have a dialogue in the next few weeks, the Ministry of Foreign Affairs responds.

4、According to 36 krypton, Douyin local life in the first half of the GMV reached 22 billion. In the first quarter, the GMV exceeded 10 billion yuan, and in the second quarter, it was between 110-12 billion yuan. In just half a year, it exceeded the target that was not achieved in the whole year of last year.

5、The latest data from the China Automobile Association shows that in June, the production and sales of new energy vehicles hit a record high, with 590,000 and 596,000 vehicles completed respectively, an increase of 1.3 times year over year. Among them, the production and sales of pure electric vehicles increased by 1.2 times year over year.

6、Fitch on Friday raised its outlook for the US to "stable" from "negative", with government revenues expected to rise this year, supported by strong personal and corporate income taxes.

7、Twitter hired a legal team Wachtell, Lipton, Rosen & Katz LLP to sue Musk for abandoning plans to buy the company for $44 billion. Musk hired law firm Quinn Emanuel Urquhart & Sullivan.

8、According to the Wall Street Journal: Google has made concessions to avoid a second U.S. antitrust lawsuit, sources said. The Department of Justice is preparing to sue Google's ad tech business. The Justice Department is taking aim at Google's dominance in the ad tech market. Google has proposed splitting some of its ad tech business into separate entities, but not spun off.

9、Tesla CEO Elon Musk said on the 8th local time that he would terminate the acquisition of Twitter, citing serious violations of various terms in the agreement. Musk said that Twitter did not "comply with its contractual obligations".

10、Tencent Holdings: repurchased 880,000 shares on July 11, 2022, at a repurchase price of HK $340.8-346, at a cost of about HK $300 million.

Pre-market movement

In pre-market trading, Dow futures were down 0.35%, Nasdaq futures were down 0.71%, and S & P 500 futures were down 0.5%.

Tesla fell 0.4%, Apple, Google, Microsoft, Amazon, and Netflix all fell between 0.5% and 1%, Nvidia fell nearly 2%, and TSMC and Meta fell more than 2%.

Twitter fell 6.8%, Musk will terminate the acquisition plan, and Twitter intends to file a lawsuit against it.

Ali, JD.com, Baidu fell more than 3%, Pinduoduo fell more than 4%, shells fell 5.6%, iQIYI, Tencent Music fell more than 2%, NetEase fell 3%, Bilibili fell more than 5%.