U.S. producer prices fell in July for the first time in more than two years, showing signs of further easing in inflation. The main U.S. stock index opened higher in early trading on Thursday (11th), and oil prices rose, pushing up energy stocks, growth stocks and technology stocks. , but tech stocks pared earlier gains as U.S. Treasury yields rebounded from session lows.that fingerS&P andhalf feeWhen the three major indexes closed in the dark, Disney struggled to support the market,Dow JonesRed slightly.
On the data front, U.S. producer prices unexpectedly fell in July, down 0.5% month-on-month, the first decline since April 2020, raising the possibility that the Federal Reserve will raise interest rates by 2 yards in September, CME’s FedWatch tool shows that traders The probability that the Fed will raise interest rates by a factor of three in September has dropped to 38%.
Meanwhile, U.S. jobless claims rose for a second straight week, signaling further labor market weakness.
The International Energy Agency (IEA) raised its forecast for oil consumption this year by 380,000 barrels per day to 2.1 million barrels, mainly due to soaring natural gas prices and heat waves, which increased demand for crude oil for power generation. Energy stocks rose.
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 588 million, and the number of deaths has exceeded 6.42 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 (11th):
Focus stocks
The five kings of science and technology turned the black and made a harvest. apple (AAPL-US) fell 0.44%; Meta (META-US) fell 0.48%; Alphabet (GOOGL-US) fell 0.72%; Amazon (AMZN-US) fell 1.44 percent; Microsoft (MSFT-US) fell 0.74%.
Dow JonesThe constituents were led by Disney. Disney (DIS-US) rose 4.68%; Chevron (CVX-US) rose 2.44%; Traveller (TRV-US) rose 2.3 percent; Johnson & Johnson (JNJ-US) fell 2.07%; Amgen (AMGN-US) fell 1.48 percent.
half feeConstituent stocks were mixed. Micron (MU-US) rose 1.50%; AMD (AMD-US) fell 0.94%; NVIDIA (NVDA-US) fell 0.86%; Applied Materials (AMAT-US) rose 0.46%; Texas Instruments (TXN-US) fell 0.58%; Qualcomm (QCOM-US) rose 0.57%.
Taiwan stock ADR simultaneously closed in the red. TSMC ADR (TSM-US) rose 0.96%; ASE ADR (ASX-US) rose 0.16%; UMC ADR (UMC-US) rose 0.71%; Chunghwa Telecom ADR (CHT US) rose 0.48%.
Corporate News
apple (AAPL-US) fell 0.44 percent to $168.49 a share. According to supply chain sources, Apple suppliers are still uncertain regarding the demand for the new flagship iPhone 14/Pro series.
Shared office giant WeWork (WE-US) shares soared 9.20% to $5.58 a share on Thursday following the CEO and CFO reported buying shares in the company. Previously, WeWork’s latest financial report showed that as of the end of the second quarter, its office occupancy rate had reached 72%, returning to the level before the outbreak at the end of 2019.
Smart speaker maker Sonos (I AM-US) plummeted 24.95% to $17.09 a share. Sonos reported poor third-quarter financial results before the market. Consumer sentiment was affected by dollar exchange losses and inflation. Revenue fell 1.8% year-on-year to $371 million, far worse than market expectations. It also lowered its full-year financial forecast.
Xiaomi Group (XIACY-US) rose 3.37% to $7.67 per share.Xiaomi’s initial investment in the field of autonomous drivingRMB 3.3 billion research and development expenses, a development team of 500 people has been established, and the self-driving technology has entered the testing stage. The first phase plans to 140 test vehicles, which will be tested in China one following another. The goal is to enter the first camp in the industry in 2024.
American communications equipment manufacturer Cisco (CSCO-US) fell 0.26 percent to $45.90 a share. Cisco disclosed on Wednesday that the company had been attacked by hackers.
Economic data
- The U.S. PPI annual growth rate in July was 9.8%, expected 10.4%, and the previous value was 11.3%
- US July PPI monthly growth rate reported -0.5%, expected 0.2%, the previous value of 1%
- The annual growth rate of US core PPI in July was 7.6%, expected 7.6%, and the previous value was 8.4%
- The monthly growth rate of core PPI in the United States in July was 0.2%, expected 0.4%, and the previous value was 0.4%
- The number of Americans receiving unemployment benefits last week reported 262,000, expected 263,000, the previous value of 248,000
- The number of people receiving unemployment benefits in the United States last week reported 1.428 million, expected 1.407 million, and the previous value of 1.42 million
Wall Street Analysis
“Despite the positive market reaction Thursday morning with slightly more moderate inflation, the problem hasn’t really gone away,” said Chuck Lieberman, chief investment officer at Advisors.
Anthony Saglimbene, global market strategist at Ameriprise, commented: “The decline in CPI, the decline in PPI suggests that things may be improving, but inflation is still very high, and the Fed will continue to raise interest rates, and there is still a lot of work to be done.”
Mark Haefele, chief investment officer at UBS Global Wealth Management, said: “Inflation data is encouraging and heading towards a soft landing for the economy, and investors are advised to take a relatively cautious approach, as the direction of the economy and Fed policy remains unclear. This is not the time to judge where the market is going.”
Analysts at Oanda said: “Inflationary pressures are clearly easing, but much of this decline depends on whether oil prices continue to fall. The risk of higher oil prices at the end of the year is elevated, so the trend of easing inflationary pressures may not be sustainable. “
The figures are updated before the deadline, please refer to the actual quotation.