Intel issued a semiconductor demand alert on Wednesday (8th) following Target’s lowered forecasts sparked concerns regarding retail performance, and chip stocks fell in shock.10-year U.S. Treasury yieldBreaking through the 3% mark, energy stocks are thriving, Alibaba and other Chinese stocks have risen sharply, and the four major indexes have collectively closed in the black.Dow Jonesfell more than 260 points,half feefell more than 2%.
Political and economic news, major international organizations have recently lowered their forecasts for global economic growth this year. Following the World Bank (World Bank), the Organization for Economic Cooperation and Development (OECD) on Wednesday revised down its forecast economic growth rate for 2022 to 3%, far It was down from the 4.5% forecast at the end of last year and doubled its inflation forecast to 8.5%.
The U.S. second-quarter gross domestic product (GDP) growth rate was revised down to 0.9 percent on a quarterly basis from 1.3 percent previously, according to the Atlanta Federal Bank’s GDPNow tracker, suggesting the U.S. is on the verge of a recession.
Although TSMC Chairman Liu Deyin said at a shareholder meeting on Wednesday that the general environment does not directly affect the semiconductor industry, Intel issued a semiconductor profit warning. Intel Chief Financial Officer David Zinsner said weak demand from consumer and macroeconomic uncertainty will hurt the company’s performance, and the impact will spread to the semiconductor industry and global companies.
In a bid to curb stubbornly high inflation, U.S. Treasury Secretary Janet Yellen said on Wednesday that the Biden administration was considering “resetting” tariffs on Chinese imports, with details of the plan to be released in the coming weeks.
Another big news for investors is that the U.S. Securities and Exchange Commission (SEC) is pushing forward with its first major reform plan in more than 15 years. SEC Chairman Gary Gensler said on Wednesday that he had asked agency staff to weigh changes in the stock market trading process and provide feedback on the changes. A more transparent and fair trading environment for retail investors.
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 533 million, and the number of deaths has exceeded 6.3 million. More than 12 billion doses of vaccines have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Wednesday (8th):
Focus stocks
The five heavenly kings of science and technology fluctuate with each other. apple (AAPL-US) fell 0.50%; Meta (FB-US) rose 0.51%; Alphabet (GOOGL-US) rose 0.038%; Amazon (AMZN-US) fell 1.48%; Microsoft (MSFT-US) fell 0.77%.
With Intel leading the decline,Dow JonesMore than half of the constituents closed in the dark. Intel (INTC-US) fell 5.28%; Goldman Sachs (GS-US) fell 2.12 percent; American Express (AXP-US) fell 1.62%; JPMorgan Chase (JPM-US) fell 1.59%; Kaiyuan Heavy Industries (CAT-US) rose 1.19%.
half feeThe constituent stocks were almost wiped out. Applied Materials (AMAT-US) fell 2.78%; Micron (MU-US) fell 3.05%; Texas Instruments (TXN-US) fell 2.64%; AMD (AMD-US) fell 3.21%; NVIDIA (NVDA-US) fell 1.45%; Qualcomm (QCOM-US) fell 2.06%.
Taiwan stock ADR all lying down. TSMC ADR (TSM-US) fell 0.39%; ASE ADR (ASX-US) fell 1.26%; UMC ADR (UMC-US) fell 0.99%; Chunghwa Telecom ADR (CHT US) fell 0.070%.
Corporate News
TSMC ADR (TSM-US) fell 0.39% to US$93.47 per share, or RMB551.85 per share, representing a discount-to-premium ratio of 1.44%.
TSMC’s shareholder meeting debuted on the 8th. Chairman Liu Deyin revealed that this year’s expected revenue growth is regarding 30%, and next year’s investment (capital expenditure) will definitely exceed 40 billion US dollars. He believes that inflation, interest rate cuts, and rising crude oil prices have no direct impact on the semiconductor industry for the time being. .
Intel (INTC-US) fell 5.28% to $41.23 per share. Analysts slashed their price targets and lowered forecasts following Intel downplayed its outlook for the current quarter. SMBC Nikko Securities analyst Srini Pajjuri pointed out that Intel’s impact on parts supply, PC customer inventory reduction and the epidemic are more serious than expected, which may have a greater impact on the company’s third-quarter or second-half profit, so Intel lowered its target price to $54.
Twitter (TWTR-US) rose 0.75% to $40.44 a share. After a weeks-long standoff between Twitter and Musk, Twitter’s board is said to be complying with Musk’s demands, with full “Firehouse” data available as early as this week, expected to provide insights into the amount of spam and bot activity on Twitter. Lots of information.
apple (AAPL-US) fell 0.50% to $147.96 a share. The European Union’s unified charging cable specification Type C generation will come into force in autumn 2024, and the British government said on Wednesday that it would not follow.
Streaming device maker Roku (YEAR-US) surged 9.06% to $101.88 a share. Roku has been rumored to be acquired by Netflix. According to market analysis, if the deal goes as planned, both companies may benefit.
Economic data
- The final monthly growth rate of U.S. wholesale inventories in April is expected to be 2.1%, the previous value was 2.1%
- U.S. EIA crude oil inventories change expectations last week – 1.917 million barrels, the previous value – 5.068 million barrels
Wall Street Analysis
Deutsche Bank analyst Matthew Luzzetti, who had predicted a recession by the end of 2023, commented on Wednesday that the chances of a recession might rise in the coming months, and the economic outlook might be more sinister later this year as the era of global austerity approaches.
Mohamed El-Erian, chief economic adviser at Allianz Group, said worries regarding economic growth and corporate earnings might have a bigger impact on stocks as the Federal Reserve continues to tighten monetary policy and stagnant inflation is looming.
El-Erian appealed that investors should be more cautious in view of potential economic risks, and should lighten their positions and wait and see, looking for opportunities to buy low.
Juheng warmly reminds that the company’s stock code will be changed from “FB” to “Meta” before the opening of Meta on June 9
The figures are updated before the deadline, please refer to the actual quotation.
