2023-05-22 13:42:22
U.S. stocks opened flat in early trading on Monday (22nd), and investors remained cautious, waiting for the progress of negotiations between U.S. President Biden and House Speaker McCarthy on Monday.Dow Jones IndexIt fell 0.03% in early trading,S&P 500 Indexup 0.02%,NasdaqThe index fell 0.01%,Philadelphia SemiconductorThe index fell 0.62%.
The question for investors now is whether U.S. politicians will be able to strike a deal to raise the debt ceiling before the government runs out of money. Although both Biden and McCarthy expressed optimism, the progress of this negotiation has been repeated in recent days.
Treasury Secretary Janet Yellen (Janet Yellen) stressed earlier Sunday that the situation is urgent now, with a large tax payment expected in mid-June, “but how to get to that date is the question.”
U.S. Treasury yields edged lower, led by rate-sensitive two-year notes, as money markets trimmed bets on a June rate hike to just 25 percent. Fed Chair Jerome Powell and Minneapolis Fed President Kashkari have both said in recent days that they would support a rate pause.
According to a survey released by the National Association for Business Economics (NABE), economists now believe that the Federal Reserve will start cutting interest rates in the first quarter of next year, but when interviewed in February this year, economists believed that the start of interest rate cuts will start this year season four.
As of 21:00 on Friday, Taipei time:
- Dow Jones IndexDown 8.68 points or 0.03%, tentatively at 33417.95 points
- NasdaqDown 0.91 points or 0.01%, tentatively at 12656.99 points
- S & P 500 rose 1.00 points or 0.02%, tentatively at 4192.98 points
- fee halfDown 19.91 points or 0.62%, temporarily reported at 3183.58 points
- TSMC ADR fell 0.56% to $92.01 per share
- 10-Year U.S. Treasury YieldUp 2 basis points to 3.69%
- N.Y. Light crude fell 0.14% to $71.45 a barrel
- Brent Crude Oilfell 0.04% to $75.55 a barrel
- goldfell 0.3% to $1,994.40 an ounce
- dollar indexdown 0.06% to 103.14
Focus stocks:
Micron (MU-US) fell 4.56 percent to $65.06
China’s State Internet Information Office announced on Sunday that Micron’s products sold in China have serious cybersecurity risks, and operators of key information infrastructure in China should stop purchasing Micron products. However, the Cyberspace Administration of China did not detail the specific risks, nor did it specify which Micron products were affected.
Micron Technology China said on Monday: “Micron has received the notice issued by the Cyberspace Administration of China following reviewing our company’s products sold in China. We are evaluating the relevant conclusions and considering the next step. We hope to continue to communicate with relevant Chinese authorities. communicate.”
META (META-US) rose 1.45 percent to $249.21
European privacy watchdog fines Meta for record $1.2 billion transfer of EU user data to USEUR($1.3 billion) in fines.
The decision is linked to a lawsuit brought by Austrian privacy activist Max Schrems, who argues that transferring EU citizens’ data to the US does not protect Europeans from US surveillance.
The Irish Data Protection Commission (DPC), which oversees Meta’s EU operations, has accused the company of breaching the EU’s General Data Protection Regulation (GDPR) by continuing to transfer the personal data of European citizens to the US in defiance of a 2020 European Court of Justice ruling.
Huida (F-US) fell 0.26 percent to $11.62
Ford CEO Jim Farley said the automaker would stop competing in overserved small markets and instead bet big on connected cars and digital services.
In a statement released ahead of the company’s Capital Markets Day event on Monday (22nd), Farley said the days of Ford being everything to everyone are over.
He said Ford would compete differently, seeking a tailored ownership experience rather than “pennying for market share” with complex vehicles in overserved segments.
Wall Street Analysis:
Bank of America strategist Savita Subramanian said on Sunday thatS&P 500 IndexThe company’s year-end target was raised to 4,300 from 4,000, saying the company’s focus on efficiency will make earnings more stable and the stock is not overvalued.She noted that valuations indicatedS&P 500 IndexThe price return over the next ten years is 5% per annum.
In contrast, Morgan Stanley strategist Michael Wilson warned that investors should not be fooled into thinking that the rebound in U.S. stocks is the start of a new bull market. Wilson said there is too much evidence, both fundamental and technical, to point to problems ahead for the market. He called on investors not to get lost in the recent rally.
Frederic Neumann, chief Asia economist at HSBC, said on Monday that the US debt ceiling problem will be fairly short-lived. Of course, there is a greater risk of financial volatility, but if the turmoil lasts longer than expected, then this might dampen growth in the US economy.
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