Investors digested mixed earnings reports and economic data. The main U.S. stock index fluctuated in a narrow range on Thursday (18th). With the rise in oil prices, energy stocks gained attention. Cisco’s optimistic financial forecast drove technology stocks higher. Silicon carbide The big company Wolfspeed’s financial report and financial forecast beat expectations, and chip stocks returned to the embrace of many parties. At the end of the four major indexes,Dow Jonesup slightly by 18.72 points,that fingerWith the S&P rising more than 0.2%,half feeIt rose 2.28%.
More economic data on Thursday shed light on the state of employment and the housing market. Initial jobless claims fell to 250,000 in the week ended Aug. 13, while existing home sales fell nearly 6% in July.
Markets are still digesting the Fed’s July meeting minutes’ stance on the future path of interest rate hikes and await next week’s Jackson Hole at the annual meeting of global central banks.
Super-hawk general, St. Louis Fed Bank President Bullard (James Bullard) on Thursday expressed support for the Fed to raise interest rates by 3 yards once more in September, and it is too early to judge that inflation has peaked. And known as the “Eagle Queen” Kansas Fed President George (Esther George) also said that although the US consumer price index (CPI) data in July brought good news, but can not prove that the fundamental problem of inflation has been resolved.
In terms of geopolitics, the United States and Taiwan announced on Thursday the launch of negotiations on the 21st Century Trade Initiative, focusing on 11 major issues such as trade facilitation and small and medium-sized enterprises, without involving tariffs. The first round of negotiations is expected to take place in the fall.
The global epidemic of new coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States pointed out that the number of confirmed cases worldwide has exceeded 593 million, and the number of deaths has exceeded 6.44 million. More than 12.4 billion vaccine doses have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Thursday (18th):
Focus stocks
The five heavenly kings of science and technology fluctuate with each other. apple (AAPL-US) fell 0.23%; Meta (META-US) fell 0.11%; Alphabet (GOOGL-US) rose 0.52%; Amazon (AMZN-US) rose 0.14%; Microsoft (MSFT-US) fell 0.39%.
Dow JonesConstituent stocks were mixed. Cisco (CSCO-US) surged 5.81%; Chevron (CVX-US) rose 1.75%; Dow Chemical (DOW-US) rose 1.01 percent; Walgreens United Boots (WBA-US) fell 5.32%; Verizon Communications (VZ-US) fell 2.54%.
half feeConstituent stocks rose. Wolfspeed (WOLF-US) surged 31.86%; Micron (MU-US) rose 2.21 percent; AMD (AMD-US) rose 2.21 percent; NVIDIA (NVDA-US) rose 2.39 percent; Applied Materials (AMAT-US) rose 2.14%; Texas Instruments (TXN-US) rose 0.99%; Qualcomm (QCOM-US) rose 1.92%.
Taiwan stock ADR is only weaker than Chunghwa Telecom. TSMC ADR (TSM-US) rose 0.08%; ASE ADR (ASX-US) rose 0.64%; UMC ADR (UMC-US) rose 0.85%; Chunghwa Telecom ADR (CHT US) fell 0.39%.
Corporate News
apple (AAPL-US) fell 0.23 percent to $174.15 a share. Tianfeng International Securities analyst Ming-Chi Kuo said on Thursday that Apple may release new products such as the iPhone 14 series on September 7, earlier than the release of the iPhone 12 and iPhone 13, mainly to avoid risks to iPhone demand from economic contraction.
Silicon carbide giant Wolfspeed (WOLF-US) surged 31.86% to $112.94 per share. Wolfspeed’s earnings report and forecast beat expectations, revenue in the fourth quarter of fiscal 2022 (ending June 26, 2022) increased 56.7% year-on-year to $228.5 million, and adjusted earnings per share fell sharply from $0.23 a year ago to $0.02, expects revenue for the quarter to be between $232.5 million and $247.5 million, beating analysts’ forecasts and forecasting that its losses may narrow further.
Network equipment industry giant Cisco (CSCO-US) rose 5.81 percent to $49.37 a share. Cisco reported following-hours Wednesday that revenue for the fourth quarter of fiscal 2022 (ending July 30, 2022) was flat at $13.1 billion, and adjusted earnings per share fell 1.2% year over year to $0.83, beating market expectations and a new The annual financial forecast surprised the market.
Meme stocks Bed Bath & Beyond (BBBY-US) tumbled 19.63% on Thursday following GameStop President Ryan Cohen sold his stake, but market speculation continued, with biopharmaceutical company Mind Medicine (MNMD-US) was another meme stock that made retail investors go crazy, its shares soared 36.18% to $1.02 per share.
Kohl”s (KSS-US) fell 7.72 percent to $31.33 per share. Following the weak earnings report from Target, the major U.S. department store Kohl’s also reported poor results. Although revenue and profit both beat Wall Street’s expectations in the previous quarter, Kohl’s downgraded the full year due to increased promotions and higher costs. Financial forecast.
Economic data
- U.S. initial jobless claims reported 250,000 last week, 265,000 expected, and 252,000 previously
- The number of people receiving unemployment benefits in the United States reported 1.437 million last week, 1.438 million is expected, and the previous value was 1.43 million
- US August Philadelphia Fed manufacturing index reported 6.2, expected – 5.0, the previous value – 12.3
- The annualized total of existing home sales in the United States in July reported 4.81 million units, an estimated 4.89 million units, and the previous value of 5.11 million units
- US July existing home sales annualized monthly rate of -5.9%, the previous value -5.5%
- The monthly rate of the leading indicator of the U.S. Conference Board in July was -0.4%, the forecast was -0.5%, the previous value was -0.7%
Wall Street Analysis
Wall Street bull, JPMorgan strategist Marko Kolanovic warns, waitS&P 500 IndexThose looking for dips below 3,500 are likely to fail once more, and the Federal Reserve might be too hawkish ahead of the U.S. midterm elections, rattling financial markets.
Nathan Sheets, Citi’s global chief economist, said: “While financial markets have become more positive recently, we remain concerned regarding the fundamentals of the global economy, which is likely to be affected by high inflation, real GDP ( GDP) slowdown and the rapid tightening of monetary policy.”
The figures are updated before the deadline, please refer to the actual quotation.