After Amazon announced its earnings report, technology stocks rebounded. The Nasdaq composite index jumped 1.6% on Friday (4th), the S&P 500 turned red and closed higher, and only the Dow Jones fell slightly among the four major indexes. U.S. non-farm payrolls in January far exceeded market expectations, deepening market expectations for the Federal Reserve to raise interest rates, and U.S. bond yields rose above 1.9% once more.DollarStrong rise, gold fell, international oil prices rose more than 2% to close at a seven-year high, Brent reported 93.27 per barrel Dollar。
Looking back on the week, the S&P 500 rose 1.5%, and the Nasdaq rose 2.4%. Both have created their best weekly results this year. The Dow Jones Industrial Average also rose 1.1% for the week. The three major indexes closed higher for two weeks in a row, the first time this year.
In terms of political and economic news, the U.S. Department of Labor announced on Friday that nonfarm payrolls increased by 467,000 in January, far exceeding the market expectation of 150,000, and the average hourly wage increased by 5.7% year-on-year. It started raising interest rates in June and has raised rates at least four times this year.
The U.S. House of Representatives passed the “America COMPETES Act of 2022” to strengthen the U.S. once morest China’s competitiveness, including spending $52 billionDollarEncourage private enterprises to produce chips, 45 billionDollarFortified critical items are made in the U.S., $160 billionDollarInvest in scientific R&D and innovation, and also incorporate climate change and human rights issues.
The bill will then be integrated with the “American Innovation and Competition Act” passed by the Senate last year, and will be sent to President Biden for signature following receiving congressional support.
The Beijing Winter Olympics opened on Friday. Despite the diplomatic boycott by the United States, Britain, Japan and other countries, Russian President Vladimir Putin attended the opening ceremony in person and held face-to-face talks with Chinese President Xi Jinping. partnership” and opposed the further expansion of NATO, led by the United States.
U.S. Secretary of State Blinken will travel to Asia next week to meet with Indo-Pacific allies, including attending the Quadrilateral Security Dialogue (QUAD) ministerial meeting in Australia and meeting Japanese and South Korean officials in Hawaii to discuss North Korea.
The global epidemic of new coronary pneumonia (COVID-19) continues to spread. According to data from Johns Hopkins University in the United States, as of the deadline, the number of confirmed cases worldwide has exceeded 390 million, and the number of deaths has exceeded 5.7212 million. More than 10.02 billion doses of vaccines have been administered in 184 countries worldwide.
As of Friday, the death toll from COVID-19 in the U.S. surpassed 900,000, and the total number of confirmed cases exceeded 76.2 million.
The performance of the four major U.S. stock indexes on Friday (4th):
- The Dow Jones Industrial Average fell 21.42 points, or 0.06%, to 35,089.74.
- The S&P 500 gained 23.9 points, or 0.52%, to end at 4,500.53.
- The Nasdaq Composite added 219.19 points, or 1.58 percent, to 14,098.01.
- The Philadelphia Semiconductor Index rose 20.53 points, or 0.60%, to 3,453.07.
Focus stocks
The five kings of science and technology have ups and downs. Apple (AAPL-US) fell 0.17%; Meta (formerly Facebook) (FB-US) fell 0.28%; Alphabet (GOOGL-US) rose 0.14%; Amazon (AMZN-US) surged 13.54%; Microsoft (MSFT-US) rose 1.56%.
The Dow Jones components fell more than rose less. 3M(MMM-US) fell 2.23 percent; Walgreens United Boots (WBA-US) fell 1.82%; P&G (PG US) fell 1.59%. Salesforce(CRM-US) rose 3.04%; JPMorgan Chase (JPM-US) rose 2.6 percent.
Fei and half constituents were mixed. Power Integrations(POWI-US) surged 5.03%; Mywell (MRVL-US) rose 3.6 percent; Super Micro (AMD-US) rose 2.93%; Huida (NVDA-US) rose 1.55%. Skyworks (SWKS-US) fell 2.48%; Texas Instruments (TXN-US) fell 2.37%.
Taiwan stock ADR ended higher. TSMC ADR (TSM-US) rose 0.98%; ASE ADR (ASX-US) rose 2.18%; UMC ADR (UMC-US) rose 4.00%; Chunghwa Telecom ADR (CHT US) fell 0.35%.
Corporate News
Apple (AAPL-US) closed down 0.17% at 172.39 per share Dollar. However, Bloomberg reported that Apple will release a 5G iPhone SE and a new iPad around March 8, which will be the first upgrade to the SE in two years, with 5G connectivity, a more powerful camera and a faster processor.
Amazon (AMZN-US) on Thursday’s following-hours profit beat market expectations and announced a 17% increase in Prime prices, the stock closed up 13.5% on Friday to 3152.79 per share Dollar, the largest single-day increase since 2015, and the market value soared by 190 billion in one dayDollar, surpassing Apple’s single-day market value increase of 181 billion following the announcement of the financial report at the end of JanuaryDollar‘s results.Amazon’s latest market value is regarding 1.6 trillionDollar。
Peloton(PTON-US) shares soared nearly 30% in following-hours trading following the Wall Street Journal (WSJ) reported that Amazon was in talks to acquire Peloton and that other potential buyers were also considering a move. However, the report also said that the two sides are still in the preliminary negotiation stage and have not yet reached any agreement.
Social media company Snap (SNAP-US) surged 58.8%, and Pinterest (PINS-US) rose 11.2%, the two companies were not afraid of Apple’s new privacy policy to hand over better-than-expected financial reports, and Snap achieved its first profit since its listing, with an EPS of 0.22 Dollar。
Economic data
- Non-agricultural employment in January reported 467,000, compared with an expected 150,000, and the previous value was revised up to 510,000 from 199,000
- Unemployment rate at 4% in January, expected 3.9%, previous value of 3.9%
- The average weekly working hour in January was 34.5 hours, compared with 34.7 hours before
- The annual increase in average hourly wages in January reported 5.7%, expected 5.2%, and the previous value of 5%
- The monthly average hourly wage growth rate in January was 0.7%, expected 0.5%, and the previous value was 0.5%
- The labor force participation rate in January was 62.2%, the previous value was 61.9%
Wall Street Analysis
Barry Gilbert, asset allocation strategist at LPL Financial, said: “For the market, the focus of watching the employment report is the Fed, because the increase in the number of new people and wages has brought surprises, people expect the Fed to Moving towards a rate hike in March, at least four more rate hikes.”
Tech stocks rallied on Thursday as Meta (FB-US) plummeted on a bleak earnings report, followed by Amazon on Friday (AMZN-US) bounces up.
Edward Moya, senior market analyst at Oanda, said, “We are in a period of extreme volatility. Tech stocks have been in favor for a long time, and traders believe now is the time to take a constructive view, especially for those who have proven themselves time and time once more. Companies that have the ability to adapt to different environments and continue to provide a positive outlook,” such as Amazon, Apple and Alphabet.
The figures are updated before the deadline, please refer to the actual quotation.
