As the United States and European allies may ban the import of Russian crude oil, the market is worried regarding supply, causing international oil prices to soar to multi-year highs, and investors have turned to safe-haven assets as the war heats up. Gold prices once soared above 2,000. Dollar, U.S. stocks opened lower on Monday (7th). Before the deadline, the Dow Jones Industrial Average fell nearly 300 points or nearly 1%, the Nasdaq Composite fell 0.62%, the S&P 500 fell 0.77%, and the Philadelphia Semiconductor Index fell 0.72%.
U.S. Secretary of State Blinken said a few days ago that he has begun to study the possibility of banning Russian oil with European allies, and emphasized that everyone was very “positive” when discussing banning Russian oil imports. After the news came out, the oil that was already quite nervous The market is under supply pressure, and international oil prices further soared to multi-year highs. West Texas crude oil rose 1.31% to 117.19 per barrel by the time of writing. DollarBrent crude oil rose 2.68% to 121.28 a barrel Dollar。
As the war between Russia and Ukraine heats up, investors have high risk aversion, and the price of gold once exceeded 2,000 Dollarsome market participants pointed out that if the situation remains unchanged, the price of gold will quickly go to 2,100 DollarHowever, some analysts said that following the conflict eases, the price of gold will quickly reverse and correct, and investors should pay attention to short-term risks.
The Fed will hold a monetary policy meeting next week, and the market is expected to raise interest rates by 1 millimeter. The earlier estimated rate hike of 2 yards is almost impossible to achieve. Before that, the United States will announce February consumer prices (CPI) this week. In the index, economists expected the CPI to rise at an annual rate of 7.8% in February, higher than the previous estimate of 7.5%.
As of 22:00 on Monday (7th) Taipei time:
- The Dow Jones Industrial Average fell 290.39 points, or 0.86%, to 33,324.41
- The Nasdaq Composite fell 82.21 points, or 0.62%, to end at 13,231.23
- The S&P 500 fell 33.50 points, or 0.77%, to settle at 4,295.37
- Feihan fell 23.40 points or 0.72% to 3,235.52
- TSMC ADR fell 2.14% to 102.81 per share Dollar
- 10-year U.S. Treasury yield rose to 1.7820%
- NY Light crude rose 1.31% to 117.19 a barrel Dollar
- Brent crude rose 2.68% to 121.28 a barrel Dollar
- Gold rose 0.73% to 1,981.00 an ounce Dollar
- DollarIndex rose to 98.7335
Stocks in focus:
Bed Bath & Beyond(BBBY-US) rose 70.33% to 27.56 per share in early trade Dollar
GameStop(GME-US) President Ryan Cohen revealed that he owns home goods retailer Bed Bath & Beyond (BBBY-US) nearly 10% of the shares, and in an open letter to Bed Bath & Beyond’s board of directors pointed out the company’s difficulties and criticized internal management, and gave operational strategy recommendations.
In response, Bed Bath & Beyond said in a statement that it will engage constructively in accordance with the comments in the letter, and said: “2021 is the first year of our forward-looking multi-year transformation plan, which we believe will create significant long-term shareholder value. ”
Uber(UBER-US) rose 5.90% to 31.59 per share in early trade Dollar
Uber on Monday raised its first-quarter profit forecast, saying its mobility business was improving faster than expected, while customers continued to order food delivery in record numbers in February.The company estimates adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 130 million to 150 million for the first three months of the yearDollarhigher than the previous forecast of 100 million to 130 millionDollar。
Uber said that the ride-hailing service in February was only 10% lower than that of February 2018 during the same period of the epidemic. Compared with February 2019, the total number of car bookings in February had recovered to 95%. In terms of delivery, the total orders in February were The volume reached the highest level in history.
Occidental Petroleum(OXY-US) rose 2.26% to 57.42 per share in early trade Dollar
Buffett’s Berkshire Hathaway (Berkshire Hathaway) disclosed that it has acquired US oil and gas exploration Occidental Petroleum worth regarding 5.1 billion in the last three trading days.Dollarbut last week’s announcement revealed that the agency owned 29.8 million shares on March 1 and spent another $3.1 billion over the next three trading days.DollarRaised its holdings to 91.2 million shares, more than triple the level on March 1.
In addition, according to the Wall Street Journal (WSJ), citing people familiar with the matter, billionaire Carl Icahn has emptied all his holdings in Occidental Petroleum. In addition, Icahn said in a letter to the company’s board of directors that two directors representing him would also resign, ending the The activist investor’s uneasy relationship with Occidental Petroleum.
Today’s key economic data:
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Wall Street Analysis:
Michael Hewson, chief market analyst at CMC Markets, said it was hard to see much upside for stocks amid the ongoing escalation of the Russia-Ukraine war amid rising oil prices that have fueled fears of demand destruction and a global recession.
Kelvin Tay, chief investment officer at UBS in Singapore, said that investors are in a risk-off mode and the stock market has been affected. He also said that high oil prices will have an economic burden on the world, so economic growth will have to slow down.
Oanda analyst Jeffrey Halley said that Russia, in the final stages of negotiations on the Iran nuclear deal, asked the United States to guarantee that its trade relationship with Iran would not be affected by the sanctions imposed by the invasion of Ukraine, a move that jeopardized the agreement negotiations and affected the return of Iranian oil to the market. There is panic, and high prices are likely to continue.