The Russian-Ukrainian war continued to weigh on global market sentiment, and Federal Reserve Chairman Powell released more hawkish remarks on Monday (21st),goldcrude oil rose together, U.S. bond yields soared, consumer discretionary and communication services led the decline, but as technology stocks converged in late trading, the four major indexes ended with a small decline.Dow JonesDown more than 200 points, the S&P closed down 0.04%.
In political and economic news, Fed Chairman Powell said at the National Association of Business Economics annual economic policy meeting on Monday: “If we conclude that it is necessary to raise interest rates above 25 basis points at one or more meetings, We’ll do it.” Powell’s remarks were undoubtedly more hawkish than last week, sending U.S. bond yields higher.
The Federal Reserve announced after its interest rate meeting on Wednesday that it will raise interest rates by one yard to 0.25%-0.5%, the first rate hike since 2018, and it is also expected to raise interest rates 6 times before the end of the year.
The Ukrainian-Russian war has not stopped so far, and bilateral negotiations have continued to be deadlocked. Ukraine refuses to surrender its weapons and surrender the southern port city of Mariupol to the Russian army. Ukrainian President Volodymyr Zelensky on Monday reiterated his willingness to hold peace talks with Russian President Vladimir Putin and suggested holding them in Jerusalem, after Zelensky warned that the Russian-Ukrainian war could escalate into World War III if the talks fail.
The European Union held a meeting of foreign ministers on Monday. Following the ban on the import of Russian oil by the United States and the United Kingdom, the ban on Russian oil imports was also included in this discussion. The outside world is concerned about whether the European Union will impose a more severe fifth round of sanctions.
Before the deadline, according to data from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 471 million, and the number of deaths has exceeded 6.09 million. More than 11.1 billion vaccine doses have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Monday (21st):
Focus stocks
The five heavenly kings of science and technology have seen ups and downs. Apple (AAPL-US) rose 0.85%; Meta (formerly Facebook) (FB-US) fell 2.31 percent; Alphabet (GOOGL-US) fell 0.018%; Amazon (AMZN-US) rose 0.15%; Microsoft (MSFT-US) fell 0.42%.
Dow JonesConstituent stocks over-received black, Boeing (BA-US) fell 3.59 percent; Home Depot (HD-US) fell 3.34%; Salesforce (CRM-US) fell 2.32 percent; Goldman Sachs (GS-US) fell 1.85 percent; Chevron (CVX-US) rose 1.8 percent.
half feeMore than half of the constituents fell. Micron (MU-US) rose 1.33 percent; Nvidia (NVDA-US) rose 1.06 percent; Applied Materials (AMAT-US) fell 0.70%; Qualcomm (QCOM-US) rose 1.04 percent; Intel (INTC-US) fell 0.13%; AMD (AMD-US) rose 2.17%.
Taiwan stock ADR is only popular with TSMC. TSMC ADR (TSM-US) rose 0.24%; ASE ADR (ASX-US) fell 1.84%; UMC ADR (UMC-US) fell 0.74%; Chunghwa Telecom ADR (CHT US) fell 0.38%.
Corporate News
Boeing (BA-US) fell 3.59 percent to $185.90 a share. A Boeing 737-800 of China Eastern Airlines crashed in Wuzhou, Guangxi on its way from Kunming, Yunnan to Guangzhou, Guangdong. The life and death of the 132 people (123 passengers and 9 crew members) on board are still uncertain, and the outside world is worried that it may lead to the 21st century China’s biggest air crash ever.
Property insurance company Alleghany (Y-US) rose 24.94% to $844.60 per share. Berkshire Hathaway, who is in charge of “stock god” Buffett, announced on Monday that it will acquire Alleghany for $848.02 per share in cash, with a total transaction value of $11.6 billion. It is expected to be completed in the fourth quarter of this year. Biggest deal ever.
TSMC ADR (TSM-US) rose 0.24% to US$106.98 per share, or 609.36 yuan per share, representing a discount-to-premium rate of 3.99%. So far this year, foreign capital has sold super-Taiwan stocks to a new high, but Citi, one of the main sellers, has released a report that is optimistic about TSMC’s outlook. Citi pointed out that the foundry supply market is tight, and TSMC still has a bargaining advantage, raising its target price to 1052 Investors suffered a heavy loss from Citigroup for allegedly killing investors, and the Financial Supervisory Commission promised to complete the investigation within one month.
Materials stocks rose, with Nucor (NUE-US) rose 4.85%.
The Canadian Pacific Railway has suspended operations last Sunday due to a labor-management dispute, leading to a stagnation in the global supply of key raw materials such as fertilizers, which will further boost the product prices and revenue of U.S. fertilizer producers. Legg Mason (MOS-US) surged 7.87%, CF Industrial Holdings (CF-US) rose 6.36%, and CVR Partners (UAN-US) surged 9.84%.
Meta (FB-US) fell 2.31 percent to $211.49 a share. A Russian district court on Monday ruled that Meta was an extremist organization, promoted Meta’s social platforms Instagram and Facebook to carry out extremist activities, and officially blocked Instagram and Facebook’s two social platforms.
Economic data
- The U.S. Chicago Fed National Economic Activity Index reported 0.51 in February, expected 0.5, and the previous value was 0.69
Wall Street Analysis
Tom di Galoma, managing director of Seaport Global Holdings, said: “The Fed is trying to figure out what the market is thinking, at least showing that Fed officials are considering raising rates by 2 yards to see how the market reacts, and that is starting to work.”
WisdomTree fixed income strategist Kevin Flanagan said: “It’s amazing that it’s been a while since the Fed decision meeting, and he does look more hawkish now, the Fed is trying to prepare the market for any change, every interest rate going forward. The meeting could raise rates by 25 or 50 basis points, which will be very data-dependent.”
“Powell doesn’t want to give the impression that the Fed is moving too slowly, and he’s trying to rush ahead, potentially bringing a 2-yard hike to the May rate meeting,” said Derek Tang, an economist at LH Meyer in Washington.
The most bearish Morgan Stanley chief U.S. stock strategist in the past year, Michael Wilson, predicts that the U.S. economy is in an “expansion” phase and may peak in 2-4 months and turn into a recession in 5-10 months. “decline”.
(The figures are updated before the deadline, please refer to the actual quotation)