2023-11-22 14:45:41
The major U.S. stock indexes opened higher on Wednesday (22nd), with the market betting that the Federal Reserve’s (Fed) interest rate hike cycle is nearing its end, U.S. bond yields fell, and traders assessed the latest batch of economic data.
before deadline,Dow Jones Industrial Averagerose nearly 170 points or nearly 0.5%,Nasdaq Composite Indexrose more than 130 points or nearly 1%,S&P 500 Indexrose nearly 0.6%,Philadelphia SemiconductorThe index rose nearly 1.5%.
Initial jobless claims in the United States fell last week following rising for several consecutive weeks, and the cooling of the job market eased slightly. In addition, the initial monthly rate of durable goods orders in October fell far beyond expectations, mainly due to a decrease in commercial aircraft orders and weakening demand for commercial equipment.
U.S. stocks are expected to rebound this month as investors bet the Fed will finally end raising interest rates. Minutes of the meeting released a few days ago show that policymakers have agreed on a policy of “proceeding cautiously” in future interest rate changes and basing any tightening measures on achieving the inflation target.
On the energy front, the meeting of the pivotal Organization of the Petroleum Exporting Countries and its allies (OPEC+) will be rescheduled from November 25-26 to November 30, causing crude oil prices to fall by more than US$3 per barrel to below US$75 per barrel. The OPEC Secretariat, which announced the news, did not disclose the reason for the delay.
As of 22:00 Taipei time on Wednesday (22nd): Focus stocks:
HP (HPQ-US) rose 3.75% to $28.91 per share in early trading
HP’s last quarter revenue and current quarter profit forecasts were both lower than market expectations, indicating a slow recovery in the personal computer (PC) market. The financial report shows that the company’s revenue fell 6.5% year-on-year to US$13.8 billion in the last quarter, and its computer sales to enterprises dropped 11% year-on-year to US$6.21 billion, which was lower than market expectations. In addition, diluted earnings per share were reported at $0.97, and non-GAAP diluted earnings per share were reported at $0.90.
Huida (NVDA-US) fell 0.38% in early trading to $497.53 per share
Huida’s last quarter financial report and forecast for this quarter were easily better than Wall Street’s expectations. However, affected by the interference of U.S. export controls, sales in China are expected to decline sharply this quarter. If restrictions are tightened in the future, performance may further deteriorate. Specifically, Huida’s revenue last quarter increased by 206% year-on-year to US$18.12 billion, much higher than analysts’ expectations of US$16.18 billion. Adjusted earnings per share increased by 593% year-on-year to US$4.02, which was also higher than analysts’ expectations. Estimated $3.37.
Amazon (AMZN-US) rose 2.54% to $147.55 per share in early trading
Amazon founder and executive chairman Jeff Bezos will actively sell more Amazon shares on Tuesday, possibly selling as many as 8 million to 10 million shares, worth more than $1 billion, people familiar with the matter said. Financial documents show that Bezos sold regarding $240 million worth of Amazon stock last week, and the transaction was labeled as a donation to a nonprofit organization, but it is not clear to whom Bezos donated, nor did Bezos’ representatives. immediately responded to a request for comment.
Today’s key economic data: The number of people claiming initial unemployment benefits in the United States last week was 209,000, compared with the expected 225,000, and the revised previous value was 233,000. The number of people continuing to receive unemployment benefits in the United States last week was reported at 1.84 million, compared with the expected 1.875 million, and the revised previous value was 1.862 million. The final value of the UM Consumer Confidence Index in November was 61.3, which was expected to be 61.0, and the previous value was 60.4. Wall Street analysis:
The founder of Yardeni Research believes there is more upside for U.S. stocks. The veteran market observer has been optimistic regarding U.S. stocks all year, arguing that the Fed’s interest rate hikes will curb inflation without triggering a job-killing recession, a so-called “soft landing.”Earlier this year, when many major banks were concerned regarding the potential impact of rising federal funds rates on corporate earnings, he even gaveS&P 500 IndexA year-end target price of 4,600 points was set, while Wall Street’s average target price for U.S. stocks at that time was only 4,050 points. He now says even the 4,600 target may be too conservative.
RBC Capital Markets analyst Lori Calvasina said that driven by positive sentiment and valuation resilience,S&P 500 IndexIt will rise to a record high next year.
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