2023-06-05 21:36:37
Investors are concerned that the Federal Reserve may suspend interest rate hikes this month, and the four major U.S. stock indexes closed in the black on Monday (5th).Dow Jonesclosed down nearly 200 points,That fingerNearly flat, the S&P slipped 0.2%,fee halfIt tumbled 1.64 percent.
Apple’s share price fell following hitting a record high in the intraday market. Apple launched the Vision Pro headset at this year’s Worldwide Developers Conference (WWDC23), priced at US$3,499 (approx.New Taiwan dollar 108,000 yuan), and is expected to be listed early next year.
Energy stocks underperformed as oil prices pared some of their gains as concerns over the demand outlook persisted, despite Saudi Arabia cutting crude output by another 1 million barrels per day (bpd) since July.
Financial stocks fell amid news that U.S. authorities might raise capital requirements for big banks by an average of regarding 20 percent as early as this month. In addition, the U.S. Securities and Exchange Commission (SEC) accused the world’s largest currency exchange Binance (Binance) and its CEO Zhao Changpeng for allegedly violating the U.S. securities system, and blockchain concept stocks are in a downturn.
In terms of data, the US ISM non-manufacturing index fell unexpectedly to 50.3 in May, and the market’s assessment of the US economy was not so optimistic, which somewhat drove optimism that the Federal Reserve will not raise interest rates later this month.
On the political and economic front, U.S. President Joe Biden signed the debt ceiling and budget bill last Saturday, lifting the U.S. debt default crisis before the June 5 deadline. The U.S. Treasury Department said that following the act takes effect, the U.S. Treasury Department has the tools to meet the requirements of debt obligations.
The performance of the four major indexes on Monday (5th):
Seven of the 11 major S&P sectors closed in the dark, with the top three decliners being industrials (-0.71%), financials (-0.65%), and energy (-0.58%). Communication services, utilities, and healthcare performed relatively strongly .
Focus stocks
The five kings of science and technology received more and more. Amazon (AMZN-US) up 0.85%; Meta (META-US) down 0.45%; Apple (AAPL-US) fell 0.76%; Alphabet (GOOGL-US) rose 1.07%; Microsoft (MSFT-US) rose 0.16%.
Dow JonesComponent stocks led by Intel. Intel (INTC-US) down 4.63%; 3M (MMM-US) down 4.44%; Nike (OF THE US) down 2.39%; Johnson & Johnson (JNJ-US) rose 0.86%; Amgen (AMGN-US) rose 1.75%.
fee halfComponent stocks generally fell. Huida (NVDA-US) down 0.40%; Applied Materials (AMAT-US) down 0.67%; AMD (AMD-US) rose 0.059%; Micron (MU-US) fell 2.02%; Texas Instruments (TXN-US) down 2.84%; Qualcomm (QCOM-US) down 2.50%.
Taiwan stock ADRs were mixed. TSMC ADR (TSM-US) down 0.90%; ASE ADR (ASX-US) fell 1.49%; UMC ADR (UMC-US) down 1.80%; Chunghwa Telecom ADR (CHT US) rose 0.62%.
Corporate News
apple (AAPL-US) fell 0.76% to $179.58 per share, falling below the $180 mark. Apple Worldwide Developers Conference debut, Apple launched the first augmented reality (AR) / mixed reality (MR) headset Vision Pro, to Meta’s new Quest 3, and HTC VIVE series of products declared war. At the same time, Apple also launched a 15-inch MacBook Air and a series of software updates to enrich Apple’s entire product line.
TF International Securities analyst Ming-Chi Kuo tweeted that Apple Vision Pro is expected to be shipped in the fourth quarter of this year or early next year.
Intel (INTC-US) fell 4.63 percent to $29.86 a share. Apple announced that the new Mac Pro computer will use the new M2 Ultra chip, compared with previous models equipped with Intel processors, Apple claims that its own chip has a strong performance advantage.
Tesla (TSLA-US) rose 3.06% to $220.52 per share. According to data released by the China Travel Association, Tesla sold 77,695 vehicles in China in May, an increase of 141.6% year-on-year and 2.4% month-on-month. Tesla CEO Musk said that during his visit to China last week, he had a constructive conversation with Chinese government officials, knowing that they also believe that artificial intelligence (AI) will bring certain risks, and relevant regulations must be regulated.
American conglomerate GENERAL (GE-US) slipped 1.61% to $104.10 per share. GE will sell its healthcare business, GE HealthCare (GEHC), for more than $2 billion.
Streaming music platform Spotify (SPOT-US) surged 3.05% to US$156.34 per share. Spotify announced that it will reorganize its podcast business unit and lay off 200 people, accounting for regarding 2% of its total employees.
Economic data
- U.S. May Markit services PMI final value reported 54.9, expected 55.1, previous value 53.6
- The final value of Markit composite PMI in the United States in May was 54.3, expected 54.5, and the previous value was 53.4
- U.S. April durable goods orders revised to 0.4%, expected 0.8%, previous 0.9%
- U.S. factory orders in April reported 0.4%, expected 1.1%, previous value 0.6%
- US ISM non-manufacturing index reported 50.3 in May, expected 51.8, previous value 51.9
Wall Street Analysis
“Markets paused for breath following Friday’s broad rally,” said Ryan Detrick, chief market strategist at Carson Group. “Market news was lackluster and extremely flat on Monday, but that’s not a bad thing as it consolidates some of the recent gains. significant gain.”
Mark Dowding, chief investment officer of BlueBay Asset Management, believes: “Although the current US economic data reflects the reason for the Federal Reserve to pause interest rate hikes in June, inflation is still high.”
“As long as the economy moves forward and doesn’t show any signs of a recession, the rest of the market can catch up and investors will see some other sectors close the gap a little bit,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.
The numbers are all updated before the deadline, please refer to the actual quotation
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