The data showed that the U.S. job market is hot, and U.S. stocks were generally depressed in early trading on Thursday (2nd).That fingerandfee halfThe index pigs and sheep changed color and all received red.
Dow JonesClosed up more than 340 points,That fingerIt rose more than 0.7%, and the S & P rose 0.76%, the largest increase in more than 2 weeks.fee halfup nearly 1%. Tesla fell more than 5.8 percent.
On the political and economic front, some Federal Reserve officials released a “dovish” signal. Atlanta Federal Reserve Bank President Bostic said on Thursday that the Federal Reserve has raised interest rates from close to zero a year ago to 4.5% in February. The restrictive level of 4.75% predicts that the current cycle of interest rate hikes may be approaching the end, and the Fed may pause interest rate hikes this summer. At the same time, he supports that raising interest rates by 1 yard is the best way to limit economic risks.
According to a research report released by MSCI on Thursday, the probability of US debt default has soared from 3.3% in early January to 11.3% last week, the highest since 2013. The U.S. hit its debt ceiling in mid-January, and since then the U.S. Treasury Department has been taking extraordinary steps to avoid a default, keeping the government funded until sometime in June.
The joint statement of the G20 foreign ministers’ meeting was difficult to deliver. India’s Foreign Minister Subrahmanyam Jaishankar said G20 foreign ministers might not reach a consensus on Russia’s invasion of Ukraine during the meeting, and Russia and China opposed calling it a “war”.
The national security risks posed by various Chinese social media apps go beyond TikTok, U.S. Commerce Secretary Gina Raimondo said on Thursday. The European Parliament, the Danish Parliament and the Canadian federal government all responded following the White House ordered federal agencies on Tuesday to completely remove Chinese audio-visual software TikTok within 30 days.
The global new crown pneumonia (COVID-19) epidemic continues to spread. Before the deadline, the Johns Hopkins University (Johns Hopkins University) data pointed out that the number of confirmed cases worldwide has exceeded 675 million, and the number of deaths has exceeded 6.87 million.
On Thursday (2nd), the performance of the four major US stock indexes:
- US stocksDow Jones IndexIt rose 341.73 points, or 1.05 percent, to close at 33,003.57.
- NasdaqThe index rose 83.5 points, or 0.73 percent, to close at 11,462.98.
- S&P 500 IndexIt gained 29.96 points, or 0.76%, to close at 3,981.35.
- Philadelphia SemiconductorThe index rose 28.28 points, or 0.96 percent, to close at 2,984.11 points.
Focus stocks
Of the five kings of technology, only Amazon is weaker. apple (AAPL-US) rose 0.41%; Alphabet (GOOGL-US) rose 1.81%; Microsoft (MSFT-US) up 1.97%; Meta (META-US) rose 0.64%; Amazon (AMZN-US) down 0.043%.
Dow JonesMore than half of constituent stocks closed higher. Salesforce (CRM-US) soared 11.5%; Boeing (BA-US) rose 2.69%; McDonald’s (MCD-US) rose 1.85%; JPMorgan Chase (JPM-US) fell 1.04%; Amgen (AMGN-US) fell 0.61%.
fee halfConstituent stocks generally closed in red. NVIDIA (NVDA-US) rose 2.71%; AMD (AMD-US) rose 2.75%; Applied Materials (AMAT-US) rose 1.01%; Texas Instruments (TXN-US) rose 1.11%; Intel (INTC-US) rose 3.43%; Qualcomm (QCOM-US) up 0.081%; Micron (MU-US) fell 1.59%.
ADRs of Taiwan stocks continued to rise. TSMC ADR (TSM-US) rose 0.69%; ASE ADR (ASX-US) up 1.79%; UMC ADR (UMC-US) rose 0.73%; Chunghwa Telecom ADR (CHT US) rose 0.40%.
Corporate News
Tesla’s investor day on Wednesday did not show the high-profile next-generation car as expected by the market. Deutsche Bank analyst Emmanuel Rosner commented: “Leaving Tesla’s investor day, we lack details on its next-generation platform as a whole. Very disappointed.” Tesla (TSLA-US) plunged 5.85 percent to $190.90 a share.
Tesla also revealed on Wednesday that it is striving to reduce the production cost of its next-generation models by up to 50%, and has designed a permanent magnet motor that does not use rare earths at all, predicting that the next generation of electric vehicles will cut the amount of silicon carbide (SiC) by 75%. %. US rare earth plant MP Materials (MP-US) collapsed 11.01% to $31.89 per share. SiC material leader Wolfspeed (WOLF-US) plunged 6.85% to $69.58 per share.
apple (AAPL-US) closed 0.41% higher at $145.91 per share. The Wall Street Journal reported that Apple delayed approval of an update to the BlueMail app that added artificial intelligence (AI) capabilities over concerns it might lead to inappropriate information being given to children.
Software company Salesforce (CRM-US) soared 11.51% to $186.59 a share, notching its best day since Aug. 26, 2020. Salesforce announced its latest financial report following the close on Wednesday. The adjusted net profit per share was $1.68, exceeding Wall Street expectations, and its full-year financial forecast was also higher than expected.
AMD (AMD-US) rose 2.75% to $80.44 per share. Activist investor Dan Loeb’s hedge fund, Third Point, is said to have taken a passive stake in chipmaker AMD.
Economic data
- The number of Americans claiming unemployment benefits reported 190,000 last week, compared with 195,000 expected and 192,000 previously
- The number of Americans continuing to receive unemployment benefits last week was reported at 1.655 million, expected to be 1.665 million, and the previous value was 1.66 million
- In the fourth quarter of last year, the revised value of non-agricultural productivity in the United States was 1.7%, expected 2.6%, and the previous value was 1.4%.
- U.S. non-agricultural unit labor cost revisions in the fourth quarter of last year reported 3.2%, expected 1.6%, and the previous value of 2.0%
Wall Street Analysis
“Whatever the reasons for jobless claims remaining subdued, the bottom line is that the labor supply is not growing in any meaningful way, and there is no evidence that will change anytime soon,” said investment bank Jefferies.
“The market is now properly pricing in the impact of higher inflation and higher terminal interest rates on the economy, pricing in that the Fed will have to keep raising rates,” said David Spika, president and chief investment officer at GuideStone Capital Management.
Wells Fargo pushed back its recession forecast and now expects a recession in the second half of the year, saying it expects interest rates to remain high for longer.
“We have lowered our end-2023 target price for S&P and raised our target range for the federal funds rate to 5.25% to 5.5%,” Wells Fargo analysts noted.
The numbers are all updated before the deadline, please refer to the actual quotation