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Xue Hongyan, Vice President of Xingtu Financial Research Institute: Stabilizing the stock market means stabilizing expectations and confidence. The Central Economic Work Conference was held in Beijing from December 11th to 12th. Why is the central government proposing to "stabilize the stock market" at this time node? What are the considerations behind it? Xue Hongyan, vice president of Xingtu Finance Research Institute, pointed out that the stock market is a barometer of the economy, and its ups and downs reflect the social expectation of the economic development prospects. In this sense, stabilizing the stock market will help to better form a positive and optimistic situation for development. Since the "924" policy shift, the A-share market has ushered in a round of surge, and the bull market has been widely discussed at the social level, which has effectively boosted market confidence. Therefore, in a sense, stabilizing the stock market means stabilizing expectations and confidence. The meeting proposed to deepen the comprehensive reform of investment and financing in the capital market. What is the internal relationship between this and "stabilizing the stock market", and how should the next step of "deepening the comprehensive reform of investment and financing in the capital market" be exerted? Xue Hongyan said that the value of the capital market is mainly reflected in two aspects: one is to serve the high-quality development of the real economy with financing function, and the other is to let investors share more fruits of economic development with investment function, which are mutually causal and indispensable. Xue Hongyan believes that this round of capital market reform, emphasizing on vigorously guiding medium and long-term funds to enter the market, opening up the blocking points of social security, insurance, wealth management and other funds to enter the market, and emphasizing the protection of the interests of small and medium-sized investors, will help fundamentally improve the capital supply and demand structure and micro-ecology, and lay a solid foundation for the long-term cattle market. (The country is a through train)Christiansen, an analyst at Danske Bank: The restrictive hawkish tendency in ECB policy has been eliminated. However, there is no indication that the bank may cut interest rates sharply, and there is no indication that the terminal interest rate will fall. Carsten Brzeski, head of international macro business in the Netherlands: The European Central Bank decided to act safely today and cut interest rates by 25 basis points. No more mention of "restrictive" monetary policy, which means there will be more interest rate cuts in the future.Trump: For me, the stock market is everything and very important.

Apple's iOS 18.2 integrates ChatGPT or helps the future sales of iPhone 17. Citigroup maintains a "buy" rating. Citibank pointed out that the iOS 18.2 update released by Apple basically meets expectations and predicts that there will be more highlights in future updates. In the detailed analysis, Atif Malik, an analyst at Citigroup, said that some basic functions of Siri in the latest system version have been taken over by ChatGPT, but this did not affect his view on the phased introduction of Apple Intelligence functions. He thought that this strategy would not significantly change the difference between the update cycle of iPhone 16/17 and the previous cycle. Malik maintains a "Buy" rating on Apple and a target price of $255. For the future, Malik is optimistic about the update of iPhone 17, and predicts that Apple will achieve 227 million units, 246 million units and 253 million units in 2024, 2025 and 2026 respectively.According to statistics, on December 12th, as of press time, five A-share listed companies including Alaide, Zhongzhong Technology, Yiwang Yichuang, Crystal Optoelectronics and Decai Co., Ltd. disclosed their holdings.Institutional analysis of the European Central Bank's interest rate resolution: the European Central Bank cut interest rates by 0.25 percentage points, aiming to stabilize the economy that was hit by French debt concerns and trade tariffs that were highly exposed to the threat of US President-elect Trump.

European Central Bank President Lagarde: We must be very cautious. European Central Bank President Lagarde: We must be very cautious because service prices and wages are rising rapidly. Financial difficulties are self-created uncertainties.European Central Bank President Lagarde: Reiterating the European Central Bank policy statement.The annual PPI of the United States in November was 3%, and it was expected to be 2.6%. The previous value was revised from 2.40% to 2.6%. The monthly PPI rate of the United States in November was 0.4%, and it was expected to be 0.2%. The previous value was revised from 0.20% to 0.3%. The monthly rate of core PPI in the United States in November was 0.2%, which was expected to be 0.2%, and the previous value was revised from 0.00% to 0.30%. The annual core PPI of the United States in November was 3.4%, expected to be 3.2%, and the previous value was 3.10%.