2023-08-04 13:06:10
The U.S. “non-farm payroll” fell short of expectations for two consecutive months, and this Chinese concept stock once rose by more than 200% | What to watch tonight
2023-08-04 21:06:10 Source:
Associated Finance Zhao Hao
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Financial Associated Press, August 4 (Editor Zhao Hao) Not long before the press release, the latest employment situation report released by the US Department of Labor showed that the US non-farm payrolls in July fell short of expectations, which depressed the US dollar index significantly.
The data showed that the number of non-agricultural employment in the United States increased by 187,000 following seasonal adjustment in July, which was lower than the 200,000 people previously expected by the market, and this was the second consecutive month that was lower than economists’ expectations. The June figure was also revised down to 185,000 from 209,000.
The average hourly wage in July rose by 4.4% year-on-year, and the market had expected it to drop to 4.2%. This is not what the Fed wants to see in the process of fighting inflation. At the same time, the unemployment rate fell to 3.5% instead of rising, and the labor force participation rate reached 62.6% for five consecutive months. The employment-to-population ratio was 60.4%, little changed from the previous months.
U.S. short-term interest rate futures showed traders reducing bets on further rate hikes by the Federal Reserve following a weaker-than-expected “master data”. The U.S. dollar index fell 30 points to 102.25 in the short term, and non-U.S. currencies such as the euro and the yen and spot gold collectively rose.
However, given the relative strength of the U.S. economy, the dollar is likely to “remain expensive” for some time, Francesca Fornasari, head of currency solutions at Insight Investment, said in a note.
Apple’s stock price fell 2.6% before the market, and its market value is bound to fall below the $3 trillion mark. After the market closed yesterday, Apple released a report showing that although the company’s performance “both exceeded expectations”, revenue has declined for three consecutive quarters, and iPhone revenue is lower than expected.
Cook also said, “We regard AI and machine learning as basic core technologies, and they are embedded in almost every product we make.” Correspondingly, Apple’s research and development expenditures this fiscal year reached 22.61 billion U.S. dollars, compared with the same period last year. That’s regarding $3.12 billion higher.
About 79% of S&P 500 companies have reported results so far this quarter, and regarding 80% of them have beaten Wall Street expectations in terms of adjusted earnings per share (EPS), according to FactSet data.
Among the Chinese concept stocks, the daily premium fresh market once rose by more than 200%. On the news, the company signed two share purchase agreements with two investors respectively. According to the financing share purchase agreement, investors agreed to subscribe for a total of 5.4 billion Class B ordinary shares of the company, with a total purchase price of US$27 million (equivalent to approximately RMB 194 million).
In addition, Daily Fresh announced that it will acquire all the common shares of Mejoy Infinite Limited for US$12 million in order to attract target customers and promote faster growth of customer business. After the business acquisition transaction is completed, Daily Fresh will begin to provide customized digital marketing solutions and services.
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