U.S. stocks were mixed on Friday (25th), dragged down by Apple and Activision Blizzard, and technology stocks were under selling pressure.Dow JonesIt rose more than 100 points, extending the Federal Reserve’s (Fed) may slow down the rise in interest rate hikes. Investors waited and watched Black Friday sales performance and China’s epidemic situation, the dollar fluctuated higher, and U.S. bond yields fell,gold futuresWandering flat, oil prices pared gains.
However, the major indexes all closed higher for the week.Dow Jonesrose 1.78%, reaching its highest level since April 21, while the S&P rose 1.53%,That fingerIt also rose 0.72%. The U.S. stock market will be closed for Thanksgiving this Thursday, and the market will close at 1:00 p.m. Eastern on Friday.
As the impact of the epidemic fades away, retailers expect more consumers to return to this year’s “Black Friday”. However, affected by inflationary pressure and bad weather, there are few people outside the stores.
The United States, South Korea are facing the threat of a “broken chain” of truckers’ strikes. U.S. President Joe Biden said the administration had engaged in negotiations and hoped to avoid an upcoming strike. The nationwide strike by truck drivers in South Korea will enter its third day, but President Yoon Suk-yue has a tough attitude, saying that if the strike continues, the government can resort to the law to forcibly suspend it.
In terms of geopolitics, the U.S. Federal Communications Commission (FCC) determined that Huawei and ZTE’s electronic equipment is a security threat, continuing the practice of banning Chinese carriers from entering the U.S. network for many years, and named Hangzhou Hikvision, Dahua Technology, and Wireless walkie-talkie maker Hytera also has national security concerns.
The Russian oil price ceiling cannot be negotiated, and the European Union has suspended negotiations until next Monday. People familiar with the matter revealed that Russia is drafting a presidential decree that will prohibit Russian companies and any traders from selling oil to any country or company that participates in the price-limiting mechanism.
China and global monetary tightening tend to go once morest each other.The People’s Bank of China announced on Friday that it will “cut RRR” for the second time this year by 1 yard (25 basis points), which is expected to release long-term fundsRMBAbout 500 billion yuan, hoping to encourage the banking industry to increase lending to households and enterprises.
The novel coronavirus pneumonia (COVID-19) global epidemic continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases worldwide has exceeded 640 million, and the number of deaths has exceeded 6.629 million. More than 12.86 billion doses of vaccines have been administered in 184 countries worldwide.
The performance of the four major US stock indexes on Friday (25th):
Focus stocks
The five kings of science and technology are completely blacked out. apple (AAPL-US) down 1.96%; Meta (META-US) down 0.74%; Alphabet (GOOGL-US) down 1.02%; Amazon (AMZN-US) down 0.76%; Microsoft (MSFT-US) fell 0.04%.
Dow JonesConstituent stocks rose more and fell less. Boeing (BA-US) up 2.01%; Home Depot (HD-US) up 1.51%; UnitedHealth (UNH-US) up 1.49%. Nike(OF THE US) fell 0.65%; Kintor Heavy Industry (CAT-US) down 0.51%.
fee halfComponent stocks generally fell. Skyworks (SWKS-US) down 2.19%; Asmol (ASML-US) down 1.99%; AMD (AMD-US) fell 1.65%; Huida (NVDA-US) down 1.51%; Intel (INTC-US) down 1.11%.
ADRs of Taiwan stocks ended higher and lower. TSMC ADR(TSM-US) down 0.7%; ASE ADR (ASX-US) fell 1.69%; UMC ADR (UMC-US) fell 2.27%; Chunghwa Telecom ADR (CHT US) rose 2.34%.
Corporate News
Apple fell nearly 2%, yesDow JonesThe constituent stocks that fell the most. Archyde.com reported on Friday, citing sources, that Hon Hai (2317-TW)’s Foxconn Zhengzhou factory, the factory’s iPhone production in November may drop by at least 30%, and Hon Hai’s internal plan to resume full production at the end of November seems unlikely to happen.
Archyde.com also reported that more than 20,000 people have left the Zhengzhou factory, most of whom are new employees who have not yet entered the production line.The Zhengzhou plant provided employees who chose to leave following the employee protest incidentRMB A subsidy of 10,000 yuan is more than one month’s salary.
Tesla (TSLA-US) fell 0.19%. China’s State Administration for Market Regulation announced on Friday that Tesla will recall more than 80,000 Chinese-made and imported vehicles because of “software problems” in these vehicles that may cause misjudgment by the battery management system. Tesla said it would update the software of the recalled vehicles.
Activision Blizzard (ATVI-US) fell 4.07%. US media Politico reported that the US Federal Trade Commission (FTC) is seeking to initiate an antitrust lawsuit to prevent Activision Blizzard from being acquired by Microsoft. microsoft (MSFT-US) closed down 0.04%.
Manchester United ADR(MANU-US) rose three times in a row, rose 12% on Friday, and soared 68% this week, making it an unforgettable week for investors of the Premier League giants.After Manchester United announced Ronaldo’s departure this week, it was reported that the Glazer family, which has owned Manchester United for 17 years, intends to sell the team. It is rumored that the Saudi Arabian government supports private bidding, and Apple is also interested. Pay 5.8 billionGBPBuy the football team with the most commercial value.
Wall Street Analysis
The minutes of the Fed’s November meeting released on Wednesday indicated that it will slow down interest rate hikes “soon”, which made US stocks end this week higher. Florian Ielpo, managing director at Lombard Odier, said: “We may soon see the end of the ‘central bank storm’, which is enough for most markets to breathe a sigh of relief. The Fed does not appear to be lagging behind.”
But China’s lockdown policy still keeps the market in an atmosphere of caution. China reported its first death from the virus since May earlier this week, as the number of infections surged across the country and friction between police and civilians continued.
Investors next week will pay attention to the U.S. November non-farm payrolls report and the core personal consumption expenditures (PCE) price index for November (this is the Fed’s preferred inflation indicator). On the business side, retailers such as Kroger and Ulta Beauty will Announce financial report.
Investors will also hear speeches from Fed Chairman Jerome Powell, Federal Reserve Bank of New York President John Williams and other officials next week. Both Powell and Williams have made it clear recently that a tight labor market, coupled with persistently high service inflation, will keep the Fed raising rates for a longer period of time, the TD Securities strategists said.
TD Securities said that while the market cheered the narrowing of interest rate hikes, the Fed may instead emphasize one thing: reaching a higher terminal rate will be desirable and necessary.
The numbers are all updated before the deadline, please refer to the actual quotation
