2023-06-23 12:25:00
global | 2023.06.23 21:55
[휴스턴=뉴스핌] Correspondent Ko In-won = U.S. stock index futures are declining as U.S. Federal Reserve Chairman Jerome Powell digests hawkish remarks.
As of 8:50 am on the 23rd (local time) in the eastern United States, E-mini Nasdaq 100 futures are trading at 15,085.75, down 127.50 points (0.84%) from the battlefield on the Chicago Mercantile Exchange (CME). E-mini S&P 500 futures are trading at 4395.50, down 28.50 points (0.64%), and E-mini Dow futures are trading at 34,046.00, down 163.00 points (0.48%).
Wall Street sign in front of the New York Stock Exchange (NYSE) [사진=블룸버그]
Chairman Powell appeared at a Senate Banking Committee hearing the previous day and reaffirmed his remarks in the House that there would be two more rate hikes within the year.
Despite the chairman’s hawkish remarks, buying power inflows around some technology stocks, and the S&P 500 and Nasdaq index rose in the New York stock market the day before, but the bull market that has continued for several weeks is expected to end.
“The tug-of-war between bearish and bullish appears to have reached a stalemate, with markets relatively stable as investors weigh the next move for the Fed following Powell’s remarks,” Matt Britzman, an analyst at Hargreaves Lansdown, told Archyde.com.
“Investors should keep in mind that interest rates may rise higher than desired and for longer than desired,” he said.
Despite Chairman Powell’s remarks suggesting two interest rate hikes within the year, according to the Chicago Mercantile Exchange (CME) FedWatch, as of the morning of the 23rd, the market raised interest rates by another 25bp (1bp = 0.01% point) in July and by the end of the year. We are anticipating a scenario that freezes the
The 2-year and 10-year Treasury yields, which best reflect market interest rate expectations, are falling today.
Amid the Fed’s high-intensity tightening, US economic indicators were sluggish. The number of new jobless claims in the United States last week, announced the day before, reached 264,000, the highest in 20 months since October 2021. In addition, the US leading economic index fell 0.7% in May, continuing the downward trend for 14 consecutive months.
Deutsche Bank notes that “recently published data has added to concerns regarding a possible recession, dampening risk appetite.”
On this day, the market is paying attention to the US Manufacturing and Service Purchasing Managers’ Index (PMI) for June, which will be announced at 9:45 am eastern time (10:45 pm Korean time). Following recently announced indicators such as employment, it is already expected to provide a clue to the health of the economy.
St. Louis Fed President James Blood, Atlanta Fed President Rafael Bostick, and Cleveland Fed President Loretta Mester are also scheduled to make remarks, drawing attention.
Photos from inside the Virgin Galactic spacecraft [자료=업체 홈페이지] 2020.07.29 ticktock0326@newspim.com
Before the opening of the day, the featured stocks were $10.3 billion (regarding 13.37 trillion won) in a lawsuit related to ‘perfluorinated compounds’, a contaminant called ‘permanent chemical substance’ because the US conglomerate ▲3M (stock name: MMM) does not break down well in nature. ), the stock price is rising more than 3% before the market opens.
US used car company ▲ Carmax (KMX) is rising more than 7% before the opening of the first quarter earnings announcement.
Shares of Starbucks (SBUX), a world-renowned coffee chain, are down nearly 2% before opening due to the news that the union will go on strike at some stores.
▲ Virgin Galactic (SPCE), led by Richard Branson, chairman of the Virgin Group, is down nearly 13% before the market opens in the followingmath of an announcement that it raised funds worth $300 million through a public offering of common stock. The company said it plans to raise an additional $400 million to upgrade the spacecraft.
koinwon@newspim.com
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