Federal Reserve officials are still releasing hawkish signals of raising interest rates one following another, and the market sentiment is sluggish. The major US stock indexes opened higher on Tuesday (30th) and then fluctuated lower. Energy stocks weighed the broader market, and all sectors fell completely. It fell below the 4,000 mark for the first time since July.Dow JonesCollect black more than 300 points,that fingerdown 1.12%,half feeIt fell 1.31%, extending its third session of losses.
Since mid-June this year,Dow Jonesandthat fingerBoth have converged more than half of their gains and are now around 6% and 11% above their summer lows, respectively.
Several Fed officials on Tuesday reiterated Fed Chairman Powell’s signal to rein in inflation, with No. 3 in the Fed, New York Fed President John Williams, saying: With oversupply, the Fed will need some ‘restrictive’ policies to slow demand, which is still a long way from the Fed’s inflation target.”
Meanwhile, the U.S. Bureau of Labor Statistics reported on Tuesday that job vacancies in July were nearly 1 million higher than expected, showing that the U.S. labor market remains extremely tight and wage pressures persist.
Markets are expecting a nearly 70% chance that the Fed will raise rates by another 3 in September. Analysts believe the Fed plans to keep interest rates high for a while, making a recession more likely. UBS estimates that the probability of the U.S. economy heading for a recession next year has risen sharply, with a 60 percent chance.
On the political and economic front, U.S. Commerce Secretary Gina Raimondo said that U.S. President Biden has not yet decided to ease tariffs on Chinese goods exported to the U.S., as Biden is weighing the possible impact of the move on inflation and the impact on U.S. labor. Impact.
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 602 million, and the number of deaths has exceeded 6.49 million. More than 12.5 billion vaccine doses have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Tuesday (30th):
Focus stocks
The five kings of technology continued to be weak. apple (AAPL-US) fell 1.53%; Meta (META-US) fell 1.26%; Alphabet (GOOGL-US) fell 0.44%; Amazon (AMZN-US) fell 0.82%; Microsoft (MSFT-US) fell 0.85%.
Dow JonesAlmost all of the constituent stocks fell. Dow Chemical (DOW-US) fell 2.82%; Kaiyuan Heavy Industry (CAT-US) fell 2.52 percent; Chevron (CVX-US) fell 2.44%; American Express (AXP-US) rose 0.08%; JPMorgan Chase (JPM-US) rose 0.02%.
half feeConstituent stocks generally closed in the dark. NVIDIA (NVDA-US) fell 2.11%; AMD (AMD-US) fell 1.75%; Applied Materials (AMAT-US) fell 2.09 percent; Micron (MU-US) fell 1.25%; Qualcomm (QCOM-US) fell 1.95%; Intel (INTC-US) fell 2.06%; Texas Instruments (TXN-US) fell 0.71%.
Taiwan stock ADRs fluctuated with each other. TSMC ADR (TSM-US) fell 0.07%; ASE ADR (ASX-US) rose 0.53%; UMC ADR (UMC-US) rose 0.92%; Chunghwa Telecom ADR (CHT US) fell 0.89%.
Corporate News
apple (AAPL-US) fell 1.53 percent to $158.91 a share. As Apple’s autumn new product launch is approaching, rumors regarding the iPhone 14 are also constantly being released. It is pointed out that Apple has replaced pink, added a new color purple to the iPhone 14, upgraded MagSafe battery accessories, and improved heat dissipation.
TSMC ADR (TSM-US) fell 0.07% to US$82.79 per share, or 504.44 yuan per share, representing a discount-to-premium ratio of 1.70%. TSMC’s 2022 Taiwan Technology Forum debuted on Tuesday. President Wei Zhejia revealed that in addition to mass production of 3-nanometer chips, TSMC also set a goal of mass production of 2-nanometer chips in 2025.
Twitter (TWTR-US) closed 1.70 percent lower at $39.32 per share. Tesla (TSLA-US) fell 2.50% to $277.70 a share. Musk’s lawyers sent another letter on Tuesday notifying Twitter that it was terminating the acquisition, emphasizing other grounds for terminating the agreement. The Delaware Chancery Court will begin a five-day hearing in the case on October 17, but Musk asked for an adjournment to November.
Despite the dazzling performance of Baidu’s financial report, the risk of delisting Chinese concept stocks from the United States is still there. Previously, it was reported that Alibaba had received a notice that it was the first batch of companies to be audited and supervised by the Accounting Oversight and Management Board (PCAOB) of the United States listed companies in Hong Kong. One of the Chinese enterprises. Baidu ADR (BIDU-US) plummeted 6.54%, Alibaba (BABA-US) fell 2.86%.
US solar panel manufacturer First Solar (First Solar) (FSLR-US) edged up 0.51 percent to $122.31 a share. First Solar announced Tuesday that it will build a brand new solar panel manufacturing plant in the United States thanks to the Inflation Reduction Act.
Economic data
- The U.S. June FHFA house price index reported a monthly rate of 0.1%, expected 0.8%, and the previous value of 1.3%
- The U.S. FHFA house price index reported an annual rate of 16.2% in June, compared with the previous value of 18.3%
- The monthly rate of the S&P/CS 20 major cities in the United States following seasonal adjustment in June was 0.4%, expected 1%, and the previous value was 1.2%
- The U.S. June non-seasonally adjusted S&P/CS 20 major city house price index reported a monthly rate of 0.4%, the previous value was 1.5%
- The U.S. June unseasonably adjusted S&P/CS 20 major city house price index reported an annual rate of 18.6%, expected 19.5%, and the previous value of 20.5%
- The U.S. Conference Board Consumer Confidence Index in August reported 103.2, expected 97.9, and the previous value of 95.3
- US July JOLTs job openings reported 11.239 million, expected 10.475 million, the previous value of 11.04 million
Wall Street Analysis
The Federal Reserve will double the speed of its shrinking from Thursday. Tony Sycamore, a senior analyst at Jiasheng Group, believes that since September, the scale of shrinking will be doubled, which will be the fastest shrinking speed in history, and market volatility may increase. exacerbated.
Shawn Cruz, chief trading strategist at TD Ameritrade, said: “The impact of Ball’s speech will make us extra sensitive to a lot of the data coming out, especially the employment data. The consumer confidence data and the JOLTS data have had quite a strong reaction in the market, which does not Not surprisingly.”
Credit Suisse recommends that investors reduce their holdings of global stocks following the annual meeting of global central banks. However, JPMorgan Chase judged that data on the US labor market predicts bad economic news, which is actually a bullish signal for the stock market.
The figures are updated before the deadline, please refer to the actual quotation.
