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Williams said the Federal Reserve's balance-sheet objective is to control interest rates.

2026-07-09

Williams said the Federal Reserve's balance-sheet objective is to control interest rates.

Other News
2026-07-09

The governor of Russia's Rostov region said two oil tankers in the Sea of Azov were hit by drone attacks.

The governor of Russia's Rostov region said two oil tankers in the Sea of Azov were hit by drone attacks.
2026-07-09

Morgan Stanley cut Xiaomi Group (01810.HK) target price by 29% to HKD32 from HKD45 and maintained an Overweight rating, citing lower EV delivery assumptions and weaker smartphone sales that slow MAU growth and trim its internet-services valuation. MS

Morgan Stanley cut Xiaomi Group (01810.HK) target price by 29% to HKD32 from HKD45 and maintained an Overweight rating, citing lower EV delivery assumptions and weaker smartphone sales that slow MAU growth and trim its internet-services valuation. MS now projects ~100,000 EV deliveries in 2Q 2026 and ~180,000 in 1H 2026—about 33% of Xiaomi’s 550,000 full-year target—and says the company is unlikely to hit the 550,000 target even with planned H2 product launches. The bank lowered its EV delivery forecast for this year to 500,000 from 580,000 and cut the 2027 forecast to 700,000 from 750,000. MS also estimates Xiaomi’s AI-related investments are conservatively worth RMB32 billion and could re-rate materially if profit growth resumes.
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