The Japanese car manufacturers Honda $7267 (-1,91%) and Nissan $7201 (-2,64%) are considering a merger, according to media reports.

The joint production capacities, sales channels and development departments could thus strengthen their own market position in the battle against Chinese manufacturers.

It is also possible that Mitsubishi $8058 (-0,4%) may also become part of the new alliance.

No exact deal has yet been made.

https://www.handelsblatt.com/unternehmen/industrie/honda-und-nissan-ueberlegen-fusion-zu-drittgroesster-autogruppe/100095453.html

#news

Moody's $MCO (+0,52%) has upgraded the outlook for Nissan $7201 (-2,64%) to negative, although the credit rating remains unchanged. This is due to uncertainties about the company's financial recovery and the challenges in its main business areas. Moody's points to weak sales and structural problems that could jeopardize Nissan's medium-term stability.

Further details can be found in the article on TradingView.

The news is based on what I personally consider to be reputable sources. No investment advice. Follow me for more updates!

Nissan
$7201 (-2,64%) has announced, 9.000 jobs and 20 of its global production capacity to reduce costs amounting to 2,6 billion dollars.

The company has also reduced its profit forecast for the year by 70 % to only 975 million dollars, which is already the second adjustment to the forecast this year.

Summary Earnings, 07.11.

$MUV2 (-1,91%)
| Munich Re Q3 24 Earnings

EPS EU7.02 (est EU6.67)

Sees FY Insurance Rev. About EU61B, Saw About EU59B

Sees FY Profit Above EU5B, Saw EU5B

$RHM (-0,14%) | Rheinmetall AG Q3 24 Earnings

Sales EU2.45B (est EU2.42B)

Still Sees FY Sales About EU10B (est EU9.99B)

Sees FY Operating Margin At Upper End Of Guidance

Nissan Motor Q2 2024 Earnings $7201 (-2,64%)

Q2 Operating Income 31.91B Yen (est 65.25B Yen)

Q2 Net Loss 9.34B Yen (est Profit 49.07B Yen)

Sees FY Oper Income 150.00B Yen, Saw 500.00B Yen

To Cut 9,000 Jobs Globally

To Reduce Global Production Capacity By 20%

To Sell Back Up To 10.02% Of Mitsubishi Motors Shares

Air France KLM Q3 24 Earnings $AF

EBITDA EU1.90B (est EU1.9B)

Rev EU8.98B (est EU8.88B)

Net Income EU780M (est EU874.3M)

Sees FY Capex EU3B, Saw Below EU3B

$TEF (-0,14%) | Telefonica Q3 24 Earnings

REV. EU10.02B (est EU10B)

Adj. EBITDA EU3.26B (est EU3.26B)

Net Income EU10M (est EU357M)

To Book €314 Million Non-Cash Impairment For Peru

ArcelorMittal Q3 24 Earnings: $MT (+0,66%)

- Sales $15.20B (est $15.23B)

- EBITDA $1.58B (est $1.47B)

- Still Sees FY CAPEX $4.5B To $5.0B

- Markets Conditions Are 'Unsustainable'

- Positive On Medium/Long Term Outlook

Daimler Truck Holdings Q3 24 Earnings: $DTG (+0,22%)

- Rev EU13.14B (est EU12.98B)

- Adj EBIT EU1.19B (est EU1.13B)

- Still Sees FY Rev EU53B To EU55B (est EU53.45B)

Adyen disappoints with lower than expected sales growth and loses 13% on the stock market. $ADYEN (+0,6%)

Lanxess-shares rise by 4.4% to 26.80 euros after a positive quarterly report, having previously fallen by 13%. The operating margin exceeds expectations, although prices weaken. $LXS (-1,06%)

National Grid increased its adjusted operating profit by 14% to 2 billion pounds in the first half of the financial year and expects an increase of around 10% for the year as a whole. Higher fees in New York and higher revenues in the UK are supporting growth. $NG. (-0,88%)

AMS-Osram increased its profitability in the third quarter despite a decline in sales, but expects business development to be subdued in the fourth quarter and early 2025. To ensure profitability, the company plans further cost reductions of 225 million euros by the end of 2026. $AMS

Suess Microtec is more optimistic after a strong third quarter and now expects to achieve its annual targets in the upper half of the forecast range. Sales are expected to reach 380 to 410 million euros, with an EBIT margin of 14 to 16 percent. $SMHN (-5,71%)

The investment company Mutares slips into the red operationally in the third quarter with an adjusted EBITDA loss of EUR 16.5 million. However, sales increased by 14% to 3.9 billion euros. $MUX (-1,36%)

Delivery Hero expects a free cash flow of EUR 50 to 100 million for 2024 and anticipates GMV growth at the upper end of the forecast of 7 to 9 percent. However, the Group expects adjusted EBITDA to be at the lower end of the range of EUR 725 to 775 million. $DHE

Deutz recorded an 80% drop in profits to EUR 7.2 million in the third quarter and slipped into the red with a bottom line of EUR 2 million. Turnover falls by 14.9% to 430.4 million euros due to a slump in demand. $DEZ (+3,06%)

Compugroup Medical records a decline in EBITDA in the third quarter

EBITDA fell by 12% to 54.9 million euros in the third quarter, but slightly exceeded

analysts' expectations slightly. Turnover falls by 1% to 283.4 million euros

euros, and the company confirms its reduced forecast for 2024. $COP (+0,18%)

Alzchem reports a jump in profits for the first nine months with

a 36% increase in EBITDA to EUR 76.8 million and increases the EBITDA margin to

EBITDA margin to 18.5 %. The Group is sticking to its profit target for 2024

but is aiming for the lower end of the sales forecast due to the discontinuation of low-margin

the lower end of the sales forecast. $ACT (+4,92%)

Nordex is raising its forecast for the EBITDA margin for 2024 and

now expects it to be closer to the upper end of the range of three to four

percent. In the first nine months of the year, the company recorded

an increase in revenue of 14 percent to EUR 5.1 billion and an improved

improved EBITDA margin of 3.7 percent. $NDX1 (+0,49%)

Nemetschek recorded an increase in revenue in the third quarter thanks to the

thanks to the GoCanvas acquisition, Nemetschek recorded a 15.1% increase in revenues to 253 million euros,

however, earnings remained slightly below expectations. The

The operating costs of the acquisition put pressure on profits, so that EBITDA

increases by 6.7 %. $NEM (+0%)

Rational increases earnings before interest and taxes in the third quarter

taxes by 18% to just under 78 million euros, exceeding analysts'

analysts' expectations, while sales revenues grew by 8% to 294 million

euros. The company confirms its forecast for the year. $RAA (-0,15%)

Nissan
$7201 (-2,64%) has announced that starting this quarter (Q4 2024) their electric vehicles will officially have access to over 18,000 Tesla Superchargers in North America.

This will significantly improve the charging experience for all Nissan electric vehicle owners.

As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.

Also as a video:

https://youtube.com/shorts/uWLmaUmA94I?si=Nvgan1ND1bTBDfNJ

Sunday:

Joe Biden resigns and names Kamala Harris as possible successor. Trump has already made a statement. We are curious to see what the markets will do tomorrow. The election campaign in the US seems to be starting all over again.

https://www.handelsblatt.com/politik/international/us-wahlen-joe-biden-verzichtet-auf-kandidatur-und-schlaegt-kamala-harris-vor/100054462.html

Monday:

The battery manufacturer $VAR1 (+0,97%) Varta is restructuring at the expense of its shareholders. In addition, Porsche and Michael Tojner secure pre-emptive rights for the issue of new shares. As a result of the StaRUG proceedings, small shareholders at Varta in particular are left empty-handed.

https://www.handelsblatt.com/meinung/kommentare/varta-gau-fuer-kleinaktionaere/100054586.html

Tuesday:

$P911 (+0,3%) Porsche corrects its forecast. Turnover is expected to be lower than planned and the margin is also likely to fall. This is probably due to flooding at a European supplier.

https://www.handelsblatt.com/unternehmen/industrie/autohersteller-warum-porsche-jetzt-die-jahresziele-fuer-2024-kassieren-muss/100054794.html

Also $ST5 (-1,09%) Steico also fell significantly. Although turnover and profit increased, the share price fell. The reason is a cautious outlook.

https://www.wallstreet-online.de/nachricht/18294888-steico-se-starkes-erstes-halbjahr-2024-vorsichtiger-ausblick

Wednesday:

Profit at $TSLA (+0,17%) Tesla falls for the second quarter in a row, Tesla has clearly missed expectations with its figures. Car sales fell by seven percent to 19.9 billion USD. Total sales increased slightly thanks to the strong storage business.

https://www.handelsblatt.com/unternehmen/industrie/elektroautobauer-tesla-gewinn-sinkt-erneut-robotaxi-soll-im-oktober-vorgestellt-werden/100053233.html

$RHM (-0,14%) Rheinmetall doubled its profit and was even able to exceed expectations. The armaments group is benefiting from numerous orders from the German armed forces. Sales increased by 49% to 2.2 billion euros in the second quarter. Profit doubled to 271 million euros. Rheinmetall is undoubtedly one of the winners of the Ukraine war.

https://www.handelsblatt.com/unternehmen/industrie/ruestung-rheinmetall-verdoppelt-gewinn-im-zweiten-quartal/100055103.html

The Purchasing Managers' Index for Germany 🇩🇪 and the USA are disappointing. The value for Germany fell below 50, and the same applies to industry in the USA. The index thus signals a recession. In the USA, at least the service sector remains above the 50 mark.

https://finanzmarktwelt.de/einkaufsmangerindex-juli-316954/?amp

Thursday:

Yesterday, the building materials group $STO3 (-1,01%) Sto reported disappointing figures. Earnings will probably be halved and the targets for 2024 and 2027 have been canceled.

There was also weak news from the automotive industry. $7201 (-2,64%) Nissan's profit collapses by 99%. Opel parent company Stellantnis reports a 40% drop in profits.

Things are also going badly in the luxury goods industry. Gucci's sales shrank by 19%, putting pressure on the profits of its parent company $KER (+1,27%) Kering.

Even consumer goods giant $NESN (-0,34%) Nestlé disappointed with a lowered forecast. Turnover fell by 2.7%, partly due to currency effects.

https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-nissan-gewinn-faellt-um-99-prozent-astrazeneca-erhoeht-jahresziele/24098412.html

Even in Poland 🇵🇱, which is otherwise economically spoiled, the supermarket chain $DNP (+3,08%) Dino Polska has to report poor figures. Among other things, profits fell by 28% compared to the previous year.

https://www.stockwatch.pl/wiadomosci/slabe-wyniki-biedronki-pociagnely-w-dol-notowania-dino-polska,akcje,329836

The situation was different in the pharmaceutical sector. $SAN (+1,27%) Sanofi exceeded analysts' expectations in terms of profit and was able to increase its turnover by 8 %. Also $AZN (+1,73%) Astrazeneca also raised its annual targets. Sales increased by 15 %. However, profits fell slightly due to exchange rate effects.

https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-nissan-gewinn-faellt-um-99-prozent-astrazeneca-erhoeht-jahresziele/24098412.html

Good economic data from the USA 🇺🇸. GDP growth in the second quarter was probably significantly stronger than expected (2.8 % annualized, expected: 2.0 %). In addition, inflation is unlikely to exceed expectations.

https://www.handelsblatt.com/politik/konjunktur/konjunktur-us-wirtschaft-waechst-im-zweiten-quartal-staerker-als-erwartet/100055373.html

Friday:

$MBG (-0,29%) Mercedes is able to slightly improve its return on sales again. In addition, there was no profit warning, which many had expected.

https://www.handelsblatt.com/unternehmen/industrie/autoindustrie-mercedes-verliert-an-fahrt-absatz-der-s-klasse-stuerzt-ab/100054892.html

BASF $BAS (-0,3%) BASF does not have to lower its forecast, but continues to struggle with rather weak figures. Sales fell by 7%, while adjusted profits of 2 billion euros in the second quarter were roughly at the previous year's level.

https://www.handelsblatt.com/unternehmen/industrie/chemiekonzern-basf-macht-weniger-umsatz-als-im-vorjahr-bestaetigt-aber-den-ausblick/100054625.html

Inflation in Japan 🇯🇵 was above expectations. Real interest rate hikes may still have to be made there after all. However, even the price increases for core consumer prices in the capital Tokyo are barely above the BoJ's 2% target.

https://www.fxstreet.com/news/japan-inflation-tokyo-consumer-price-index-rises-22-yoy-in-july-vs-23-prior-202407252333

The German pharmaceutical group $MRK (-0,72%) Merck also delivered strong figures and raised its forecast slightly. Instead of sales of 20.6 - 22.1 billion euros, the range was raised to 20.7 - 22.1 billion euros. Sales stagnated in the second quarter. The reason for the forecast increase is good figures for the cancer drug Xevinapant.

https://www.handelsblatt.com/unternehmen/industrie/pharma-und-techkonzern-merck-hebt-prognose-fuer-2024-leicht-an/100055694.html

Most important dates in the coming week:

Tuesday: 14:00 Inflation data (Germany)

Wednesday: 05:00 Interest rate decision (BoJ)

Thursday: 13:00 Interest rate decision (BoE)

Former Nissan CEO Carlos Ghosn has filed a lawsuit against the Japanese car company, seeking $1 billion in damages. Ghosn, who was charged with violating stock market regulations and then fled to Lebanon, claims his reputation and finances have been damaged by the scandal surrounding him. The lawsuit was filed in a Beirut court several weeks ago. Ghosn denies the allegations against him in Japan and claims to be the victim of a conspiracy to prevent closer ties between Nissan and Renault. So far, the lawsuit has had no real impact on the company's $7201 (-2,64%) Share.

What are your thoughts on Carlos Ghosn's lawsuit against Nissan and his demand for $1 billion in damages?

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗜𝗣𝗢𝘀 🔔

Sono Motors - The company wants to accelerate the solar-powered automotive industry. Their solar-electric car Zion already has 16,000 pre-orders. The vehicles are scheduled to start production in the first half of 2023. So far, the company has posted a loss of $108.8 million, but that is expected to change as deliveries begin.

When it goes public, Sono Motors plans to issue 10 million shares at a price of $14 to $16.

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

Ex-dividend date: American Electric Power ( $AEP (+0,56%) ), American Water ( $AWC (+0,23%) ), Dover Motorsports ( $DVD ), Diamondback Energy ( $7DB (+0,64%) ), Greenbrier Companies ( $G90 (+1,27%) ), IBM ( $IBM (+0,3%) ), Matson ( $68M (+0,37%) ), Matador Resources ( $7MR (-0,43%) ), Olin Corporation ( $OLN (-0,02%) ), PPG Industries ( $PPQ (+0,07%) ), Rollins ( $RLS (+0,38%) ), Silicon Motion ( $S9M (+0%) ), Tempur Sealy International ( $TPD (+0,47%) ), WestRock ( $1WR ) and West Pharmaceutical Services ( $WPS (+0,66%) ).

𝗖𝗵𝗶𝗳𝗳𝗿𝗲𝘀 𝘁𝗿𝗶𝗺𝗲𝘀𝘁𝗿𝗶𝗲𝗹𝘀 📈

Today 1&1 ( $DRI (+0,51%) ), About You ( $YOU (-0,15%) ), Alcon ( $2U3 (+0,09%) ), Associated British Foods ( $ASBFY ), Bakkafrost ( $6BF (-0,24%) ), Bayer ( $BAYN (+0,62%) ), DeNA ( $D2N (-2,59%) ), Fraport ( $FRA (-0,13%) ), Gilat Satellite Networks ( $GSA (+0%) ), Kirin Holdings Company ( $KNBWY ), Manz AG ( $M5Z (-13,32%) ), Medios AG ( $ILM1 (-4,16%) ), Münchener Rück ( $MUV2 (-1,91%) ), Nissan ( $NISA (-2,64%) ), OVB Holding ( $O4B (-0,99%) ), Porsche ( $PAH3 (-1,04%) ), Schaeffler ( $SHA ), Swiss Life ( $SLW1 (-0,78%) ), United Internet ( $UTDI (-0,86%) ) and Wienerberger ( $WIB (-0,2%) ) present their figures.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

Ceconomy ( $CEC1 ) - The group wants to expand with its Media Markt and Saturn brands and open 35 department stores. Group CEO Wildberger is pursuing the goal of becoming the first omnichannel platform that combines e-commerce and in-store retail. In doing so, he even wants to compete with Amazon ( $AMZ (+0,07%) ). During Corona, Ceconomy was already able to significantly improve logistics and thus shorten delivery times.

The stores will become smaller and more "smart shops" of 600 to 800 square meters will be built in the city centers, because 33% of the total turnover is already attributable to online trade.

Bayer ( $BAYN (+0,62%) ) - Bayer was supported by strong demand for seeds and crop protection products as well as over-the-counter medicines in the last quarter. Bayer shares recently rose 2.16 percent to €51.09. There will also be a change at the head of the Crop Science division. Rodrigo Santos will succeed Liam Condon, who terminated his contract early, as COO. In the third quarter, Bayer was able to increase sales for the entire group by almost 15 percent year-on-year to €9.8 billion. In total, the company made a profit of 85 million euros. The profit was depressed by the high costs of restructuring measures.

Elon Musk - The founder of Tesla ( $TL0 (+0,17%) ), let his fans vote on Twitter whether he should sell ten percent of his Tesla shares. More recently, he has been called upon to pay more taxes to help solve famine problems. Out of just over 3.5 million users, 58 percent voted in favor of a sale. This means that the block of shares to be sold would currently be worth about US$20 billion. Based on this vote, Tesla's share price collapsed by 8.47% to 965.66 euros.

Gazprom ( $SCF ) - After several months of energy crisis and rising prices, the Russian gas company is once again supplying gas to Germany and Austria under pressure from Putin. Gazprom's vice president also said that Russia has no interest in such high gas prices, as it would accelerate the transition to renewable energy in Europe.

𝗖𝗿𝘆𝗽𝘁𝗼 💎

The crypto-currency market's gold rush - Last night, the two leading crypto-currencies Bitcoin ( $BTC-EUR (-2,2%) ) and Ethereum ( $ETH-USD (-1,62%) ) were able to reach new all-time highs. Bitcoin was able to set the mark now at $68,642.00 with a daily increase of almost 5%. This brings its market capitalization to $1.28 trillion, with bitcoin managing to leave Tesla ( $TL0 (+0,17%) ) behind it. Ethereum followed Bitcoin and also hit a new all-time high of $4,857.25. Successes like these have been evident in the market in recent weeks. For example, Cardano ( $ADA-USD (-4,39%) ), Ethereum's competitor, gained 12 percent overnight, and Litecoin ( $LTC-EUR (+1,26%) ), which had long been treading water, rose 20.3 percent in one day. This very strong performance, which can be seen across all crypto-currencies, led to the total market capitalization of all crypto-currencies crossing the US$3 trillion mark for the first time.

Shiba Inu- The co-founder and creator of Dogecoin, the origin of all

"meme coins" explicitly distanced himself from Shiba Inu on Sunday. He also stressed that he himself was not the holder of the coin. Before that, various theories have been circulating that he might be involved in the project.

🤜🏼🤜🏼🤜🏼 @MarketNewsUpdate

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗦𝗼𝗹𝗮𝗿-𝗔𝘂𝘁𝗼 / 𝗔𝗺𝗮𝘇𝗼𝗻𝘀 𝗻𝗲𝘂𝗲𝗿 𝗞𝗼𝗻𝗸𝘂𝗿𝗿𝗲𝗻𝘁 / 𝗕𝗮𝘆𝗲𝗿𝘀 𝗕𝗹𝗶𝗰𝗸 𝗮𝘂𝗳 𝗚𝗲𝘄𝗶𝗻𝗻 / 𝗞𝗿𝘆𝗽𝘁𝗼𝗺𝗮𝗿𝗸𝘁 𝗶𝗺 𝗚𝗼𝗹𝗱𝗿𝗮𝘂𝘀𝗰𝗵

𝗜𝗣𝗢𝘀 🔔

Sono Motors - The company aims to accelerate the solar-powered automotive industry. Their Sion solar-electric car already has 16 thousand pre-orders. Production of the vehicles is expected to start in the first half of 2023. So far, the company has made a loss of $108.8 million, but this is expected to change as deliveries begin.

In going public, Sono Motors plans to issue 10 million shares at a price of $14 to $16.

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

As of today, among others, American Electric Power ($AEP (+0,56%)), American Water ($AWC (+0,23%)), Dover Motorsports ($DVD), Diamondback Energy ($7DB (+0,64%)), Greenbrier Companies ($G90 (+1,27%)), IBM ($IBM (+0,3%)), Matson ($68M (+0,37%)), Matador Resources ($7MR (-0,43%)), Olin Corporation ($OLN (-0,02%)), PPG Industries ($PPQ (+0,07%)), Rollins ($RLS (+0,38%)), Silicon Motion ($S9M (+0%)), Tempur Sealy International ($TPD (+0,47%)), WestRock ($1WR) and West Pharmaceutical Services ($WPS (+0,66%)) traded ex-dividend.

𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈

Today, among others, 1&1 ($DRI (+0,51%)), About You ($YOU (-0,15%)), Alcon ($2U3 (+0,09%)), Associated British Foods ($ASBFY), Bakkafrost ($6BF (-0,24%)), Bayer ($BAYN (+0,62%)), DeNA ($D2N (-2,59%)), Fraport ($FRA (-0,13%)), Gilat Satellite Networks ($GSA (+0%)), Kirin Holdings Company ($KNBWY), Manz AG ($M5Z (-13,32%)), Medios AG ($ILM1 (-4,16%)), Munich Re ($MUV2 (-1,91%)), Nissan ($NISA (-2,64%)), OVB Holding ($O4B (-0,99%)), Porsche ($PAH3 (-1,04%)), Schaeffler ($SHA), Schloss Wachenheim AG ($SWA (+0%)), Swiss Life ($SLW1 (-0,78%)), United Internet ($UTDI (-0,86%)) and Wienerberger ($WIB (-0,2%)) presented their figures.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

Ceconomy ($CEC (+1,45%)) - The Group plans to expand with its Mediamarkt and Saturn brands and open 35 large stores. Group CEO Wildberger is pursuing the goal of becoming the leading omnichannel platform, combining e-commerce and bricks-and-mortar retail. In doing so, he even wants to compete with Amazon ($AMZ (+0,07%)) to compete. During Corona, Ceconomy was already able to significantly improve logistics and thus shorten delivery times.

The stores are to become smaller and more "smart stores" with 600 to 800 square meters are to be built in the city centers, as 33% of total sales are already attributable to online retailing.

Bayer ($BAYN (+0,62%)) - tailwinds provided Bayer with high demand for seeds and crop protection products as well as over-the-counter medicines in the past quarter. Bayer shares recently rose 2.16 percent to 51.09 euros. There will also be a change at the top of the Crop Science division. Rodrigo Santos will take over as COO from Liam Condon, who terminated his contract early. Bayer increased Group-wide sales in the third quarter by nearly 15 percent year-on-year to 9.8 billion euros. The Group posted a total profit of 85 million euros. Profits were depressed by high costs for restructuring measures.

𝗖𝗿𝘆𝗽𝘁𝗼 💎

Crypto market in gold rush - Last night, the two leading cryptocurrencies Bitcoin ($BTC-EUR (-2,2%)) and Ethereum ($ETH-USD (-1,62%)) reached new all-time highs. Bitcoin was able to set the mark now at $68,642.00 with a daily increase of almost 5%. This puts its market capitalization at $1.28 trillion, which means bitcoin managed to outpace Tesla ($TL0 (+0,17%)) behind it. Ethereum followed Bitcoin's lead and also set a new all-time high of $4,857.25. Successes like these have been evident across the market in recent weeks. For example, Ethereum competitor Cardano ($ADA-USD (-4,39%)) gained 12% overnight, or even Litecoin ($LTC-EUR (+1,26%)) was able to grow by 20.3% in one day. This very strong performance, which can be seen across all cryptocurrencies, led to the total market capitalization of all cryptocurrencies breaking through the 3 trillion US dollar barrier for the first time.

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