Wall Street expects that the U.S. inflation data in August will peak and fall, the Ukrainian army counterattack has reported a good news, and the market risk sentiment has improved. Pre-orders are hot, Apple’s rally is eye-catching, and all the four major indexes are in the red.Dow JonesIt closed slightly up nearly 230 points,that fingerAnd the S&P rose more than 1%.
The latest survey released by the Federal Reserve Bank of New York on Monday showed that consumers’ expectations for future inflation fell further in August, with consumers’ expectations for three-year inflation falling for the fourth consecutive month.
Meanwhile, investors are awaiting the U.S. consumer price index (CPI) report for August due on Tuesday. Wall Street expects CPI to rise 8.1% y/y in August, after rising 8.5% in July. Core CPI, which strips out the impact of energy, is expected to rise to 6.1% in August from 5.9% in July.
Some economists predict that if there is a particularly weak CPI data, the Fed may let go and raise interest rates by only 2 yards, but some economists are certain that the Fed will raise interest rates by 3 yards, because the US labor market is still strong.
In terms of politics and economy, U.S. President Biden is about to sign an executive order to expand the U.S. bio-manufacturing industry and reduce its dependence on China, showing that the technology war between the United States and China has extended to the biotechnology industry.
Chinese President Xi Jinping prepares for his first overseas trip since the Covid-19 pandemic, the Beijing government announced that Xi will visit Kazakhstan and Uzbekistan from September 14 to 16, and attend the Shanghai Cooperation Organization members in Samarkand Council of Heads of State. Russian media previously reported that Xi Jinping and Russian President Vladimir Putin will meet on the sidelines of the Shanghai Cooperation Organization summit.
The seven-month-long Russian-Ukrainian war may come to a turning point, with the Ukrainian army recovering 500 square kilometers of lost land in southern Ukraine in the past two weeks. The outside world is concerned that Putin may take the opportunity of meeting with Xi Jinping to demand more assistance from China.
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 608 million, and the number of deaths has exceeded 6.51 million. More than 12.6 billion vaccine doses have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Monday (12th):
Focus stocks
The five kings of science and technology are only black. apple (AAPL-US) rose 3.85%; Meta (META-US) fell 0.11%; Alphabet (GOOGL-US) rose 0.19%; Amazon (AMZN-US) rose 2.39 percent; Microsoft (MSFT-US) rose 0.83%.
Under the lead of Apple,Dow JonesAll the constituents were higher. American Express (AXP-US) rose 2.53%; Salesforce (CRM-US) rose 1.87 percent; Chevron (CVX-US) rose 1.58%; Kaiyuan Heavy Industries (CAT-US) rose 1.54 percent; Amgen (AMGN-US) fell 4.07%.
half feeConstituent stocks were mixed. Intel (INTC-US) rose 0.32%; Micron (MU-US) rose 0.87%; NVIDIA (NVDA-US) rose 0.82%; AMD (AMD-US) fell 0.95%; Applied Materials (AMAT-US) fell 0.22%; Qualcomm (QCOM-US) rose 0.72%; Texas Instruments (TXN-US) fell 0.094%.
Taiwan stock ADR is only weak. TSMC ADR (TSM-US) rose 0.76%; ASE ADR (ASX-US) fell 1.39%; UMC ADR (UMC-US) rose 0.31%; Chunghwa Telecom ADR (CHT US) rose 0.69%.
Corporate News
apple (AAPL-US) surged 3.85% to $163.43 a share, its best one-day performance since May. Tianfeng International Securities analyst Ming-Chi Kuo released a new Apple pre-order survey on Monday, showing that demand for the iPhone 14 Pro Max has surpassed last year’s iPhone 13 Pro Max, and believes that Apple will further differentiate its Pro and non-Pro models through the iPhone 15 and iPhone 15 Pro in 2023. model, while increasing the average selling price of the iPhone as a whole.
Software giant Oracle (Oracle) (ORCL-US) closed up 1.54 percent to $77.08 a share, and its shares rose 1.5 percent after hours.
Oracle announced after-hours earnings for the first quarter of fiscal 2023 (ending on August 31, 2022), with adjusted net earnings per share of $1.03, lower than market expectations, but revenue of $11.45 billion, better than expected, mainly due to recent The acquisition of electronic medical records company Cerner brought in a financial contribution of $1.4 billion, with revenue in the quarter up 18% from a year earlier.
Goldman Sachs (GS-US) rose 0.67 percent to $342.58 a share. According to foreign media reports, Goldman Sachs is embarking on the largest layoff since the new crown epidemic, and will lay off hundreds of people starting this month. The US financial industry is also feeling the chill of the current economic recession. down more than 40%.
Twitter (TWTR-US) fell 1.85 percent to $41.41 per share. A team of Twitter lawyers said Musk’s attempt to cancel the Twitter agreement was invalid and wrong, and that Twitter was not violating the agreement by paying the whistleblower. The market also reported that at the Twitter shareholder meeting, most shareholders will agree to Musk’s acquisition of Twitter at a price of $54.20 per share.
Wall Street Analysis
Citi strategist Ebrahim Rahbari believes that the rebound in U.S. stocks after the release of pressure and the recent broad correction in the dollar will continue into this week as the market believes that the Fed’s hawkish rate hike has peaked in the short term and market positions are relatively defensive.
Analysts at Wells Fargo Bank have judged that lower raw material futures prices in recent months and easing of supply chain bottlenecks indicate that inflation will cool down in the next few months, but the growth rate of labor costs is still strong, indicating that inflation will continue to fall back to the Fed. Meeting the target level is not easy.
The figures are updated before the deadline, please refer to the actual quotation.