With the Bank of England’s emergency intervention in bond purchases to rescue the market, the global bond market has recovered one following another, and U.S. bond yields have plummeted. U.S. stocks opened higher on Wednesday (28th). As Hurricane Ian shut down regarding 11% of oil production and 8.56% of natural gas production in the U.S. Gulf of Mexico, pushing oil prices up more than 3%, energy led the broader market higher, Apple bucked the trend lower, and the four major indexes closed collectively red.
Dow JonesIt closed up nearly 550 points, rebounding sharply from the low in 2022, and the S&P rose nearly 2%, ending six consecutive trading days of decline.that fingerReceived a bonus of 2.05%,half feerose 1.22%.
The Bank of England said on Wednesday it would temporarily buy long-term British bonds to stabilize its plunging currency,GBPrebound,10-Year U.S. Treasury YieldIt fell to around 3.7% from a one-day high of 4%.
Former U.S. Treasury Secretary Lawrence Summers commented on Wednesday that, given the current market situation, the Bank of England’s purchase of British bonds is doing the right thing to try to restore orderly market conditions, but it cannot really solve the problem of British policy .
Federal Reserve officials have a firm hawkish stance. Compared with Fed Chairman Powell’s suggestion that a recession is a necessary measure to curb inflation, US Deputy Treasury Secretary Wally Adeyemo is optimistic that the Biden administration is optimistic regarding the future of the US economy. With confidence, it is possible for the US to maintain growth while reducing inflation, and the economy may achieve a soft landing.
U.S. President Joe Biden on Wednesday approved an additional $1.1 billion in military aid to Ukraine in the Ukraine-Russia war. In addition, Moscow will annex four Russian-occupied provinces in southern and eastern Ukraine as soon as this week, announcing that its voters overwhelmingly agreed to join Russia.
The European Union has continued to investigate the cause of the leakage of the Nord Stream 1 and Nord Stream 2 natural gas pipelines. Many governments in Europe and the United States suspect that Russia is the mastermind behind the deliberate destruction of the pipelines. Russia has vehemently denied any involvement in the accident.
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 616 million, and the number of deaths has exceeded 6.54 million. More than 12.7 billion vaccine doses have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Wednesday (28th):
- US stocksDow JonesUp 548.75 points, or 1.88%, to settle at 29,683.74.
- NasdaqThe index gained 222.13 points, or 2.05 percent, to end at 11,051.64.
- S&P 500 IndexUp 71.75 points, or 1.97%, to settle at 3,719.04.
- Philadelphia SemiconductorThe index rose 29.2 points, or 1.22 percent, to end at 2,427.3.
Focus stocks
The five kings of science and technology are only Apple’s black. apple (AAPL-US) fell 1.27%; Meta (META-US) ) rose 5.36%; Alphabet (GOOGL-US) rose 2.62%; Amazon (AMZN-US) rose 3.15 percent; Microsoft (MSFT-US) rose 1.97%.
Dow JonesThe constituents were led by Home Depot. The Home Depot (HD-US) surged 5.02%; Boeing (BA-US) surged 4.65%; Disney (DIS-US) rose 3.7 percent; Chevron (CVX-US) rose 3.38%; the development of heavy industry (CAT-US) rose 3.28%.
half feeConstituent stocks generally rose. Intel (INTC-US) rose 0.89%; Micron (MU-US) rose 0.83%; NVIDIA (NVDA-US) rose 2.60%; AMD (AMD-US) rose 1.77%; Applied Materials (AMAT-US) rose 2.20 percent; Qualcomm (QCOM-US) fell 1.17%; Texas Instruments (TXN-US) rose 1.30%.
Taiwan stock ADR ended higher. TSMC ADR (TSM-US) fell 1.23%; ASE ADR (ASX-US) fell 1.90%; UMC ADR (UMC-US) was flat; Chunghwa Telecom ADR (CHT US) rose 0.63%.
Corporate News
Affected by Apple’s abandonment of iPhone production increase plan, Apple (AAPL-US) fell 1.27 percent to $149.84 a share on Wednesday. Tianfeng International Securities analyst Ming-Chi Kuo tweeted on Wednesday: “The rumor that Apple has given up on increasing iPhone production is a bit strange. Previous investigations have shown that Apple has plans to switch iPhone 14/14 Plus production lines to iPhone 14 Pro/14 Pro Max / cut prices for iPhone 13. drawing, but I haven’t heard of any overall plans to increase iPhone production.”
Boeing (BA-US) rose 4.65 percent to $133.44 a share. Boeing and Taiwan’s China Airlines have finalized an order for the 787 Dreamliner. According to reports, the 16 Boeing 787-9 passenger jets cost a total of 4.6 billion US dollars, and China Airlines has an option to buy 8 more.
Global e-commerce leader Amazon (AMZN-US) received a 3.15% dividend to $118.01 per share. Amazon unveiled a slew of new products on Wednesday, including a next-generation Kindle with writing capabilities, a new robot called Astro, and a bedside sleep tracker.
ASE ADR (ASX-US) closed down 1.90% to $5.15 per share, or 82.09 yuan per share, representing a discount-to-premium ratio of 4.97%. ASE said on Wednesday that it has joined hands with Qualcomm and other companies and institutions to build the world’s first 5G mmWave NR-DC SA smart factory to address labor shortages and meet diverse and changing order demands.
Economic data
- U.S. merchandise trade balance in August was reported at -$87.3 billion, compared with -$90.19 billion previously
- The initial monthly growth rate of U.S. wholesale inventories in August was 1.3%, expected 0.4%, and the previous value was 0.6%
- US August pending home sales reported a monthly rate of -2%, expected -1.4%, the previous value of -1%
- U.S. existing home sales in August reported an annual rate of – 22.5%, expected – 24.5%, the previous value – 22.5%
- The change in U.S. EIA crude oil inventories last week is expected to be 443,000 barrels, the previous value of 1.142 million barrels
- U.S. EIA gasoline inventories last week expected 709,000 barrels, the previous value of 1.569 million barrels
Wall Street Analysis
The recent surge in bond yields threatens the housing market and the broader economy, said Kenneth Broux, a currency strategist at Societe Generale. But the Bank of England still has to raise interest rates, which is also contagious. The International Monetary Fund and the US Treasury said the day before that they were concerned regarding the global crisis spreading from British debt to other markets.
“All eyes are on inflation and interest rates, and a hawkish or more hawkish Fed has certainly brought stocks into a worrying period,” said Josh Emanuel, chief investment officer at Wilshire. “From now on, if investors look at Until bond yields are lower, that bodes well for stocks.”
The figures are updated before the deadline, please refer to the actual quotation.
