U.S. stocks pulled sharply in late trading on Monday (10th), the Dow Jones and S&P declined sharply, and the tech-heavy Nasdaq Composite Index struggled to turn red, stopping the daily decline and rebounding from a low of 2.7%. The biggest intraday rally so far on February 28, 2020. oil prices fell,BitcoinFalling below $40,000, the price of gold and the dollar closed higher.
The U.S. 10-year bond yield fell below 1.8% in midday trading, and bargain-hunting buying emerged. The Dow Jones fell 592 points in early trading and the S&P fell 2% at one point, but almost recovered all lost ground in midday trading. The Nasdaq has been down since November The high fell back more than 9%, and rebounded before approaching the technical level. Huida, Tesla (TSLA-US), apples are turning red.
US Federal Reserve (Fed) Chairman Powell will appear at 10 p.m. ET on Tuesday at a Senate appointment hearing. According to prepared testimony released by the Fed on Monday, Powell will tell senators that the U.S. labor market is strong and that policy must be considered forward-looking, and that “there will be tools to support the economy and the labor market to ensure that inflation does not take root.”
While Powell, with bipartisan support, might easily be confirmed, expect a barrage of grilling as the Fed embarks on its sharpest policy turn in decades. A hearing on Fed Governor Lael Brainard’s appointment as vice chair is scheduled for Thursday.
The Federal Reserve Bank of New York’s December survey released on Monday showed that U.S. consumers’ inflation expectations for the year ahead remained steady at 6%, following a 13-month streak of gains, and the average inflation rate for the next three years was forecast. It was also steady at 4%. In addition, the public is more optimistic regarding the employment outlook, with the chance of losing a job in the next year falling to 11.6% from 12.9% in the November survey.
The global epidemic of new coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases in the world exceeded 309.1 million, and the number of deaths exceeded 5.4929 million. More than 9.44 billion doses of vaccines have been administered in 184 countries worldwide.
A month following the discovery of Omicron infections in New York, which appeared to have peaked, the seven-day average of emergency room numbers in the five major regions fell sharply from the end of December, although emergency room capacity remained heavy. U.S. COVID-19 hospitalizations topped 132,646, a Archyde.com tally showed, rewriting the record set in January last year.
The performance of the four major U.S. stock indexes on Monday (20th):
- The Dow Jones Industrial Average fell 162.79 points, or 0.45%, to 36,068.87.
- The S&P 500 lost 6.74 points, or 0.14%, to end at 4,670.29.
- The Nasdaq Composite added 6.93 points, or 0.05 percent, to 14,942.83.
- The Philadelphia semiconductor index rose 9.06 points, or 0.24 percent, to 3,805.39.
Focus stocks
The five kings of technology were mixed. Apple (AAPL-US) rose 0.01%; Meta (formerly Facebook) (FB-US) fell 1.12%; Alphabet (GOOGL-US) rose 1.21 percent; Amazon (AMZN-US) fell 0.66%; Microsoft (MSFT-US) rose 0.07%.
The Dow Jones fell more and rose less. Nike(US-US) tumbled 4.16 percent; Boeing (BA-US) fell 2.87%; Visa (V-US) fell 2.3 percent. Merck(MRK-US) fell 2.58%; UnitedHealth (UNH-US) fell 1.4%.
Half of the constituents were mixed. ASML(ASML-US) fell 3.83%; Covo (QRVO-US) fell 2.02%; Wolfspeed (WOLF-US) fell 2.02%. Intel (INTC-US) jumped 3.31 percent; Texas Instruments (TXN-US) rose 1.96%; Huida (NVDA-US) rose 0.56%.
Taiwan stock ADR closed higher. TSMC ADR (TSM-US) rose 1.22%; ASE ADR (ASX-US) rose 2.62%; UMC ADR (UMC-US) rose 1.09%; Chunghwa Telecom ADR (CHT-US) rose 1.18%.
Corporate News
Intel (INTC-US) jumped more than 4 percent in following-hours following the company announced it had acquired Micron (MU-US) director David Zinsner is chief financial officer, and current treasurer George Davis will retire in May. Gregory Bryant, head of client computing, left at the end of this month.
TSMC ADR (TSM-US) closed up 1.22% at 125.01 per share Dollar. The company will hold a legal meeting on Thursday. According to data released on Monday, revenue in December, the fourth quarter and the full year of last year reached new highs at the same time, reflecting the effect of price increases. The revenue in December was 155.382 billion yuan (4.8% monthly increase, 32.4% annual increase), the fourth quarter revenue was 438.188 billion yuan (5.67% quarterly increase, 21.2% annual increase), and the annual revenue was 1.58 trillion yuan (18.5% annual increase). %).
Take-Two announced the acquisition of “Happy Farm” publisher Zynga for a total price of 12.7 billion including debtDollarWritten a record in the game industry, the bid was $9.86 per share, a 64% premium over last Friday. Shares of Zynga (ZNGA-US) surged 40.67% to $8.44 per share on the bullish merger, and Take-Two (ZNGA-US)TTWO-US) fell 13.13% to 142.99 per share Dollar。
Modena (MRNA-US) rose 9.28% to 233.70 per share Dollar, the company announced that a vaccine for Omicron would be available by the fall, with clinical trials soon to begin.
Novavax, which is also a COVID-19 vaccine maker (NVAX-US) also came with good news, CEO Stanley Erck said on Monday that it has applied for emergency use authorization (EUA) to 10 national regulators, and it is expected that all of them will be approved in the next 90 days. The stock closed up 6.54% to 134.99 per share Dollar。
Lululemon(LULU-US) fell 1.91% to 348.43 per share Dollar, fell nearly 9% at one point. The company warned on Monday that fourth-quarter revenue and EPS might fall into the low end of its forecast range due to shortened store hours and manpower shortages caused by the Omicron variant.
Wall Street Analysis
JPMorgan analyst Marko Kolanovic advised investors to buy on dips, Citi analyst Kristen Bitterly also held a similar view, saying that the Nasdaq 100 index fell nearly 4.5% in the first week of 2022, with 38 stocks from 52-week highs It fell 50%, and the 65th fell more than 10% from its high point. “If you take advantage of the market’s pullback to deploy high-quality stocks, such as information security or payment stocks that are expected to continue to grow in profit, there is a chance to achieve double-digit returns.”
Wall Street expects the Fed to pump money faster, with Goldman Sachs forecasting the Fed to raise interest rates four times this year and possibly start shrinking its balance sheet from July, putting pressure on U.S. stocks in early trade.
Sylvia Jablonski, chief investment officer at Defiance ETFs, said there are some real risks around interest rates, but a closer look at some of the big tech stocks still has large cash positions.
The figures are updated before the deadline, please refer to the actual quotation.
