2023-07-28 21:35:16
Intel, Procter & Gamble (P&G) and Roku’s financial reports were successful. Economic data raised hopes of a soft landing for the economy. US bond yields fell. Technology stocks shined brightly. US stock indexes all closed higher on Friday (28th).
Intel and Samsung, SK Hynix and Micron all signaled a recovery in chip demand in the second half of the year.fee halfSoaring more than 2.2%.Dow JonesReceive bonus over 175 points. The S&P rose nearly 1 percent, its highest closing level since April last year.That fingerIt rose nearly 2%, its best one-day performance since May 26.
Come see for a week,fee halfThis week rose 4.13%, the best performance,That fingerThe weekly line closed 2.02%, and the S&P rose 1.01% this week.Dow JonesTired up 0.66%.
In terms of data, the US personal consumption expenditures (PCE) price index rose 3.0% in June, slightly lower than market expectations, while the most closely watched inflation indicator by the Federal Reserve (Fed) – core PCE slowed down from 4.6% in May to 4.1%, lower than the expected 4.2%, the lowest since September 2021, showing that inflation continues to cool down.
As U.S. inflation continues to recede, the University of Michigan’s July consumer confidence index released on Friday reported a final value of 71.6, which was slightly lower than market expectations of 72.6, but still far higher than June’s 64.4, the lowest since October 2021. new highs.
According to data released by the US Bureau of Labor Statistics, the US employment cost index in the second quarter increased by 1% quarter-on-quarter, the slowest growth rate in two years and lower than Wall Street expectations, reflecting the gradual cooling of the US labor market.
Political and economic news, the super central bank week is coming to an end. The Bank of Japan announced on Friday that it will maintain the benchmark interest rate at a historical low of -0.1%, and at the same time give more flexibility to the yield curve control (YCC) policy, which will keep the 10-year Japanese government bond The cap of yield of 0.5% is considered as a guideline rather than a hard limit.
The Bank of England appointed former Federal Reserve (Fed) chairman and Nobel laureate economist Ben Bernanke (Ben Bernanke) to lead an external investigation into the Bank of England’s economic forecasting and monetary policy setting method, hoping to defuse the Bank of England’s move too slowly Criticism of inability to contain inflation.
India, which is seeking to position itself as a global semiconductor powerhouse, hosted its annual semiconductor event on Friday, bringing together Prime Minister Narendra Modi and executives from U.S. tech giants including Micron, AMD and Texas Instruments, highlighting the world’s fifth-largest economy India joins the US, Taiwan and South Korea in its ambition to become a major center for semiconductors.
Foreign media quoted sources as saying that U.S. President Biden will sign an executive order in mid-August, requiring government departments to formulate measures to limit U.S. funds’ investment in key technology investments in China. This order will focus on semiconductors, artificial intelligence (AI) and quantum computing, etc.
The performance of the four major US stock indexes on Friday (28th): Among the 11 major S&P sectors, 9 major sectors including communication services, consumer discretionary and communication technology closed in the red, while the utilities and real estate sectors closed in the dark. (Picture: finviz) Focus stocks
The five kings of science and technology are like a rainbow. Amazon (AMZN-US) up 3.09%; Meta (META-US) rose 4.42%; Apple (AAPL-US) rose 1.35%; Alphabet (GOOGL-US) up 2.46%; Microsoft (MSFT-US) rose 2.31%.
Dow JonesConstituent stocks closed higher. Intel (INTC-US) surged 6.6%; Boeing (BA-US) rose 2.11%; Baoqiao (PG-US) rose 2.83%; Verizon Communications (VZ-US) rose 1.43%; Walgreens Boots (WBA-US) down 2.71%.
fee halfConstituent stocks generally rose. Applied Materials (AMAT-US) rose 3.96%; AMD (AMD-US) up 1.67%; Micron (MU-US) rose 0.18%; Texas Instruments (TXN-US) up 1.07%; Qualcomm (QCOM-US) rose 2.88%; Huida (NVDA-US) up 1.85%.
ADRs of Taiwan stocks collectively closed higher. TSMC ADR (TSM-US) rose 1.52%; ASE ADR (ASX-US) rose 3.70%; UMC ADR (UMC-US) up 1.90%; Chunghwa Telecom ADR (CHT US) up 0.13%.
Corporate News
Intel (INTC-US) surged 6.60% to $35.95 per share. Intel announced its second-quarter financial report on Thursday. With the ferment of savings, last quarter’s revenue and profit were both better than expected, and it successfully turned from loss to profit. At the same time, it released an optimistic outlook for this quarter’s operations.
Intel once once more vowed to return to the 2-nanometer leader, and announced that it will use 2-nanometer and 1.8-nanometer to overtake TSMC in 2025. Lu Xingzhi, a well-known semiconductor analyst, said that TSMC is also quite nervous internally, and is looking for news everywhere.
TSMC ADR (TSM-US) rose 1.52 to 100.86 US dollars per share, the conversion price was 633.30 yuan, and the discount premium rate reached 11.69%. TSMC’s global R&D center in Hsinchu-Baoshan was officially opened on Friday. TSMC President Wei Zhejia said in his speech that the opening of the R&D center is to show the Taiwanese people TSMC’s determination to stay in Taiwan.
Chemours (CC-US) fell 3.64 percent to $36.57 a share. Chemours, a major American chemical manufacturer in Taoyuan Guanyin Industrial Zone, will close its factory. The management said that due to the reduction in orders and the increase in costs, it is expected to close the factory on August 1 and lay off 259 workers in batches starting from September 30.
Oil giant Exxon Mobil (XOM-US) closed up 1.20 percent at $104.16 a share. ExxonMobil announced its 2023 second-quarter financial report before the U.S. stock market on Friday. Affected by the sharp drop in energy prices, its net profit for the quarter fell by nearly 60% year-on-year. It was the longest decline since, but revenue was in line with expectations issued earlier this month.
microsoft (MSFT-US) rose 2.31 percent to $338.37 a share. Microsoft updated a risk factor in its annual report to regulators on Friday, citing possible outages in cloud services if data center graphics processing units (GPUs) are not available. Microsoft’s recent financial report highlights that the cloud business has become the main source of revenue.
Economic data U.S. June PCE increased by 3%, expected 3.1%, previous value 3.8% U.S. June PCE increased by 0.2%, expected 0.4%, previous value 0.1% U.S. June core PCE increased by 4.1%, expected 4.2%, The previous value was 4.6%. The core PCE in the United States increased by 0.2% in June, which was expected to be 0.2%, and the previous value was 0.3%. Expected 0.4%, previous value 0.2% U.S. second-quarter ECI increased by 1%, expected 1.1%, previous value 1.2% U.S. second-quarter employment and wages increased by 1%, expected 1.2%, previous value 1.2% U.S. July University of Michigan The final value of the consumer confidence index reported 71.6, expected 72.6, and the previous value of 64.4 Wall Street analysis
“The U.S. labor market is slowing down year-over-year and wage growth is cooling. Employers are no longer feeling the pressure to raise wages as they have in years past,” said Cory Stahle, economist at job site Indeed.com.
“It feels like a very, very good moment for longs,” said Phil Toews, chief executive of Toews Asset Management. “A surprisingly benign CPI, a GDP growth report, still-strong employment and a strong consumer, These factors combine to make us realize that we may not be in a recession.”
Omair Sharif, president of Inflation Insights, commented: “If the labor market continues to soften, wage growth should also soften, which should give people more confidence in the ultimate outcome of inflation and give Fed officials more reason to pause at the mid-September meeting. rate hike.”
The numbers are all updated before the deadline, please refer to the actual quotation
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