2023-07-13 13:43:54
The U.S. June producer price index (PPI) further showed that inflation is cooling, fueling investors’ hopes that the Federal Reserve (Fed) will soon end its monetary tightening policy, and major U.S. stock indexes opened higher on Thursday (13th).
before the deadline,Dow Jones Industrial Averagerose more than 90 points or nearly 0.3%,Nasdaq Composite Indexrose nearly 140 points or nearly 1%,S&P 500 Indexup nearly 0.6%,Philadelphia SemiconductorThe index rose more than 1%.
Investors are returning to U.S. stocks as fears of rising interest rates and a potential recession ease. U.S. data released yesterday showed that inflation fell to a two-year low, while Thursday’s producer price index (PPI) fell more than analysts had expected, while initial jobless claims fell short of expectations last week, Indicates that the job market remains resilient.
Specifically, the U.S. PPI rose by 0.1% in June, lower than market expectations of 0.4% and the revised previous value of 0.9%; following excluding the volatile food and energy, the core PPI rose by 2.4% in May, lower than the market The expected 2.6% is the lowest since January 2021, and the previous value was 2.6% following revision.
The adjusted number of initial jobless claims reported 237,000 last week, lower than market expectations of 250,000 and the revised 249,000; the number of continuing unemployment benefits last week reported 1.729 million, higher than market expectations of 1.723 million people, the previous value following revision was 1.718 million.
U.S. Treasury yields were broadly lower as investors unwound bets that the Fed would raise rates once more following raising them this month. The two-year U.S. Treasury yield, which is more sensitive to interest rates, fell regarding 6 basis points to 4.68%, following falling 13 basis points yesterday on inflation data.10-Year Treasury Yieldfell to 3.8%.
As of 21:00 on Thursday (13th) Taipei time: Focus stocks:
Tesla (TSLA-US) rose 0.48 percent to $273.31 a share in early trade
According to foreign media reports, Tesla has begun discussing an investment proposal with the Indian government to build a car factory in the country with an annual production capacity of up to 500,000 vehicles, and the price of electric vehicles produced will start from 2 million rupees (regarding 24,400 US dollars). . Earlier, Musk said he planned to visit India next year. In addition, the Tesla Shanghai factory completed the 1 millionth Model Y new car off the assembly line today.
Huida (NVDA-US) rose 2.06 percent to $448.06 a share in early trade
Recently, the GPU shortage continues to ferment. According to dealers, the current price of Huida A800 is lower than that of a week ago.RMB More than 90,000 yuan rose regarding 30%. As of press time, Huida rose 1% to the US dollar before the market, and its stock price continued to set new highs.
According to Cowen & Co.’s analysis, Huida’s data center business provides support for the current generative artificial intelligence competition conducted by ultra-large-scale enterprises. It raised its revenue forecast for the second quarter to $12 billion, and the stock target price is $500 per share.
Meta Platforms(META-US) rose 1.90% to $315.22 a share in early trade
Facebook parent company Meta Platforms is preparing to release a commercial version of its artificial intelligence model, enabling startups and businesses to build custom software on top of the technology, the Financial Times (FT) reported. Currently the software can create text, images and code, driven by large-scale language models (LLMs).
Today’s key economic data: The number of Americans who claimed unemployment benefits last week was 237,000, expected to be 250,000, and the previous value was 249,000. 0.1%, expected 0.4%, revised previous value 0.9% U.S. June PPI monthly increase of 0.1%, expected 0.2%, revised previous value – 0.4% U.S. June core PPI increased by 2.4%, expected 2.6%, following revision Value 2.6% US June PPI core monthly increase of 0.1%, expected 0.2%, revised previous value of 0.1% Wall Street analysis:
Brandywine Global Investment Management predicts that the Fed will raise interest rates by 1 yard (25 basis points) this month, and then pause interest rate hikes. Portfolio manager Jack McIntyre said: “We have got rid of the crisis mentality around inflation, and the Fed’s remarks following the monetary policy meeting at the end of the month should be less hawkish.”
Steven Englander, head of global G10 foreign exchange research and North American strategy at Standard Chartered Bank, wrote in a report that the recent underperformance of the dollar reflects a shift in market confidence in shorting the dollar, as the Fed’s policy rate ceiling appears to be getting bigger.
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