2023-08-16 21:37:09
After the release of the minutes of the hawkish-led monetary policy meeting in July, the main US stock indexes were exhausted on Tuesday (15th).10-Year U.S. Treasury YieldIt rose to more than 4.25%, a new high since October last year.
Dow Jones Industrial AverageReceive more than 180 black points,Philadelphia SemiconductorThe index fell more than 2%, falling for the second consecutive trading day.S&P 500 IndexClosed down more than 0.7%,Nasdaq Composite IndexIt fell more than 1% and closed below the 50-day moving average.
Minutes from the July Federal Open Market Committee (FOMC) meeting noted that most officials identified significant upside risks to inflation that may require further tightening of monetary policy, just as upbeat data forced the central bank to drop its recession forecast.
Wall Street Journal reporter Nick Timiraos, known as the Federal Reserve’s megaphone, said that some officials are beginning to worry about raising interest rates too aggressively and are cautious about raising interest rates further.
According to the latest data from CME’s FedWatch Tool, traders see only a 12 percent chance of a rate hike in September and a 35 percent chance of a rate hike in November.
Fed watchers will be listening for possible signals, including a speech by Fed Chairman Jerome Powell, at next week’s annual meeting of global central banks in Jackson Hole, Wyoming.
Recently, a number of investment institutions have been bearish on U.S. stocks. The investor briefing released by Bridgewater Fund on July 25 shows that its flagship fund Pure Alpha is moderately short on U.S. stocks and U.S. bonds.Previously, Michael Burry, the prototype of the protagonist of the movie “Big Short” and famous for shorting the subprime mortgage bubble, bought the S&P 500 index andNasdaq The put option on the 100 index predicts that the U.S. stock market may fall sharply in the future.
The performance of the four major US stock indexes on Wednesday (16th): US stocksDow Jones IndexIt fell 180.65 points, or 0.52%, to close at 34,765.74.
NasdaqThe index fell 156.42 points, or 1.15 percent, to close at 13,474.63.
S&P 500 IndexIt fell 33.53 points, or 0.76%, to close at 4,404.33.
Philadelphia SemiconductorThe index fell 73.88 points, or 2.08 percent, to close at 3,480.08 points. Almost all of the 11 major S&P sectors fell, with only the utility sector thriving, consumer discretionary, communication services and real estate sectors leading the decline. (Picture: finviz) Focus stocks
The five kings of science and technology fell into one piece. Amazon (AMZN-US) down 1.89%; Meta (META-US) down 2.54%; Apple (AAPL-US) down 0.50%; Alphabet (GOOGL-US) down 0.83%; Microsoft (MSFT-US) fell 0.24%.
Dow JonesMore than half of the constituent stocks closed black. Kintor Heavy Industries (CAT-US) down 1.03%; Intel (INTC-US) down 3.57%; Walgreens Boots (WBA-US) down 1.43%; Po Kiu (PG-US) down 1.02%; Traveler (TRV-US) rose 1.16%.
fee halfConstituent stocks were generally weak. Huida (NVDA-US) down 1.03%; Micron (MU-US) down 1.70%; Qualcomm (QCOM-US) down 1.37%; Applied Materials (AMAT-US) down 1.31%; AMD (AMD-US) fell 3.74%; Texas Instruments (TXN-US) fell 1.45%.
Taiwan’s ADR is dominated by TSMC. TSMC ADR (TSM-US) up 0.11%; ASE ADR (ASX-US) fell 2.15%; UMC ADR (UMC-US) down 3.03%; Chunghwa Telecom ADR (CHT US) rose 0.44%.
Corporate News
Huida (NVDA-US) slipped 1.03% to $434.86 per share. Huida has already made plans for the third quarter of production. From filming, packaging and testing to production, it will take one season at the fastest. The delivery of Huida A800 to Chinese customers may not be scheduled until the first quarter of next year. In addition, Huida and Benchmark jointly invested in artificial intelligence (AI) start-up MindsDB.
Hawaiian Electric Industries (HE-US) fell sharply in late trading on Wednesday, closing down 1.49% to $14.57 per share. At least 100 people were killed in a wildfire in Maui, Hawaii, USA. It is suspected that the equipment of Hawaiian Electric Company was responsible for the damage. The company is rumored to be in talks with a restructuring consulting firm.
US electric vehicle leader Tesla (TSLA-US) closed down 3.16 percent at $225.60 a share. Tesla once again announced on Wednesday that it would cut the prices of Model S and Model X in China, marking its second price cut in three days, exacerbating concerns about Tesla’s renewed price war.
Tower Semiconductor (TSEM-US) plunged 10.69% to $30.17 per share. Intel (INTC-US) fell 3.57% to $33.53 per share.
Due to the delay in waiting for the approval of the Chinese anti-monopoly agency, Intel announced the termination of its original plan to acquire the world’s seventh largest wafer foundry Israel Gota Semiconductor for $5.4 billion, and Intel will pay Gota a breakup fee of $353 million .
U.S. Steel (X-US) shares jumped in intraday trading on Wednesday, closing 1.39% higher at $30.65 per share.U.S. Steel’s M&A war escalates, with Cleveland-Cliffs, a major U.S. steel mill, and Esmark, a steel processing and distributor, vying to acquire U.S. Steel，ArcelorMittal SA, the world’s second-largest steelmaker, is also considering a bid for U.S. Steel, Archyde.com reported on Wednesday.
Target Department Store (TGT-US) rose 2.96% to $128.75 per share. Target department store’s latest earnings report exceeded expectations, mainly due to reduced discount activities and improved inventory management capabilities, but the company lowered its full-year sales and profit expectations.
Economic data The initial value of the monthly rate of building permits in the United States in July was reported at 0.1%, expected – 1.7%, and the previous value was – 3.7%. The annualized monthly rate of new housing starts in the United States in July was 3.9%, expected 2.7%, and the previous value was -11.7%. The monthly rate was reported at 1.0%, expected 0.3%, the previous value – 0.8% Wall Street analysis
Jeffrey Roach, chief economist at LPL Financial, pointed out that from the minutes of the meeting, it seems that the hawks dominated the July monetary policy meeting.
Evercore ISI economists led by Krishna Guha said the minutes outlined a tension between inflation data slowing faster than the Fed expected and growth data stronger than the Fed expected.
Jack Ablin, chief investment officer at Cresset Capital, pointed out that some people think that the Fed will just maintain the status quo and keep interest rates at the current level for a longer period of time, but now they may raise interest rates again.Higher oil prices, which will push headline inflation higher, high oil prices really seep into everything
The Fed’s data-dependent stance means the September FOMC meeting remains a real-time decision that will depend on the overall picture of the data, Morgan Stanley said.
The numbers are all updated before the deadline, please refer to the actual quotation
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