News

Jinse Finance reported that on March 18, Mike Wilson of Morgan Stanley, who for years has maintained that a "rolling recession" lurks in plain sight while Wall Street celebrated the so-called economic boom, has now returned with another counterintuitive assessment: half of the stocks in the market are already in a bear market, with the correction lasting for six months, and investors who only began to panic this week are clearly late. As Morgan Stanley's Chief U.S. Equity Strategist, Wilson argued in a report released on Monday that the recent intense market volatility is not the beginning of a sell-off, but rather nearing its end. He wrote, "This correction has matured both in terms of time and price." He supported this view with a striking data point: 50% of the stocks in the Russell 3000 Index are currently down at least 20% from their 52-week highs; in the S&P 500 Index constituents, this proportion also exceeds 40%. Wilson has often stood alone over the years, believing that the economic conditions of many companies and consumers are much weaker than what core economic statistics such as nominal GDP or employment growth indicate. He stated that weakness does not manifest as a single collapse, but moves sequentially by industry—first technology, then consumer goods, and finally broader economic sectors.

Golden Ten Data reported on March 18 that, according to the news office of Sinopec, during the heating season from 2025 to 2026, Sinopec had supplied a total of 24.7 billions cubic meters of natural gas to the market as of March 15, with a maximum daily supply reaching 248 millions cubic meters, setting a new historical record. The company leveraged its gas storage and peak regulation capabilities, achieving a single-day gas extraction of over 59 millions cubic meters from storage facilities on January 23, also a historical high. It effectively responded to four cold waves and multiple rounds of cold air cooling events, with gas supply to six northern provinces and cities increasing by 12.3% year-on-year during the peak usage period in January. Sinopec also promoted its direct LNG supply business, with terminal vehicle LNG retail sales growing by more than 50% year-on-year.

Odaily reported that Phil Newhart, Head of Market and Economic Research at First Citizens Bank, stated that investors and the market will pay particular attention to the median forecast for the federal funds rate at the end of 2026. This is difficult to judge, but we believe the median will continue to indicate only one rate cut for the remainder of this year. In addition to the Federal Open Market Committee's forecasts, the tone of Powell's press conference will be a key variable influencing the market, especially regarding how he will address the contradiction between the recent surge in oil prices and weak labor market data. (Golden Ten Data)