2023-08-30 13:55:07
Major indexes on Wednesday ( 30) mixed, U.S. bond yields anddollar indexQi went lower.
before the deadline,Dow Jones Industrial Averagerose more than 150 points, or nearly 0.5%,Nasdaq Composite Indexrose nearly 35 points or nearly 0.2%,S&P 500 IndexNearly 0.3%,Philadelphia SemiconductorThe index fell nearly 0.4 percent.
The U.S. ADP employment report showed that the number of U.S. private sector employment increased by 177,000 seasonally adjusted in August, which was lower than the expected 195,000, far less than the upwardly revised increase of 371,000 in July, the highest in five months. Minimum increase. ADP job creation slowed more than expected in August, a sign that the unexpectedly resilient U.S. economy may be starting to slow under pressure from rising interest rates.
ADP chief economist Nela Richardson said the August figures were in line with the pace of job creation before the pandemic, with wages and employment moving toward more sustainable growth as the economic impact of the pandemic fades.
At the same time, the US Department of Commerce released data on the same day that the gross domestic product (GDP) growth rate in the second quarter was revised down to 2.1% from the previous value of 2.4%. Economists had forecast no revision to second-quarter GDP, and the downward revision largely reflected lower investment in inventories and business spending on equipment and intellectual property products.
The report showed that the annual growth rate of the personal consumption expenditure (PCE) index in the second quarter of the United States was revised to 2.5%, which was expected to be 2.6%, and the previous value was 4.1%. Value 4.2%.
It is worth noting that the revised annual rate of the core PCE price index, which is the most important inflation indicator of the Federal Reserve (Fed) following excluding energy and food prices, was 3.7%, down 0.1% from the initial value. The expected 3.8%, the previous value was 4.2%.
In terms of political and economic news, U.S. Secretary of Commerce Raimondo, who is on a visit to China, said: “I leave China with an optimistic attitude. In the future, there will be dialogue to solve the problem step by step. I hope to see some progress in the next few months.” As a result, it will be seen whether the two sides can make progress on the issues raised.”
As of 21:00 on Wednesday (30th) Taipei time: Focus stocks:
apple (AAPL-US) rose 0.85 percent to $185.73 a share in early trade
Apple will hold an autumn new product launch event at 1:00 PM EST on September 12th (1:00 AM ET on September 13th, Taiwan time).
Tesla (TSLA-US) fell 2.26 percent to $251.37 a share in early trade
Tesla’s Cybertruck was initially scheduled to start production in the second half of 2021. It was later pushed back to 2022, and then Musk pushed it back to 2023. According to “The Verge” report, Musk confirmed in January this year that Cybertruck will not enter full mass production until 2024, but the advance production work is planned to start this summer.
Huida (NVDA-US) fell 0.38% to $485.99 per share in early trade
The closing price of Huida hit a record high once more yesterday, which also made the company’s market value exceed 1.2 trillion US dollars for the first time, and it is expected to continue to write the legendary story of the most glorious year in history. Although people have had high expectations for Huida’s prospects in this round of artificial intelligence boom in the past few months, Huida’s excellent financial report in the latest quarter is still surprising.
Today’s key economic data: U.S. ADP new jobs reported 177,000 in August, expected 195,000, previous value 312,000 U.S. second-quarter GDP quarterly growth rate revised at 2.1%, expected 2.4%, previous value 2.0% U.S. second The quarterly PCE quarterly growth rate was revised to 2.5%, expected 2.6%, and the previous value was 4.1%. The US second-quarter core PCE quarterly growth rate was revised to 3.7%, expected to be 3.8%, and the previous value was 4.9%. The annual rate revision was reported at 1.7%, expected 1.6%, and the previous value was 4.2%. The rate was at 0.9%, expected -0.6%, and the previous value was 0.4%. Wall Street analysis:
After years of quantitative easing, U.S. bank reserves have risen to 1,600 times what they were before the collapse of Lehman Brothers, weakening the Fed’s ability to influence the economy, and raising interest rates may be the only way to tighten policy. Economists at Nomura said the Fed is losing leverage over the U.S. economy and may need to raise interest rates sharply, which might trigger another sell-off in stocks and bonds.
Wedbush analysts believe tech stocks will rebound by the end of the year as a new tech bull market overcomes Fed concerns in the short term. The bank’s optimism on technology stocks continues unabated, with artificial intelligence (AI)-driven growth set to rocket the technology industry over the next 12 to 18 months.
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