2024-01-04 14:43:14
Major U.S. stock indexes opened mixed on Thursday (4th) following the latest data released by the U.S. showed that the job market remains resilient, cooling market expectations for an early interest rate cut by the Federal Reserve (Fed).
before deadline,Dow Jones Industrial Averagerose more than 90 points or nearly 0.3%,Nasdaq Composite Indexfell more than 40 points or nearly 0.3%.S&P 500 Indexrose nearly 0.04%,Philadelphia SemiconductorThe index fell more than 1%.
U.S. Treasury yields rose across the board and the dollar stabilized following four consecutive days of gains following strong U.S. employment data raised concerns regarding the Federal Reserve’s path to cutting interest rates.
S&P 500 IndexFutures were little changed following ending a three-day sell-off yesterday.Nasdaq 100 futures fell following Apple suffered its second downgrade this week. U.S. Treasury bond prices extended losses following ADP reported higher-than-expected job creation in December and lower-than-expected jobless claims last week.
Specifically, in December last year, the number of ADP employees, known as “small non-agricultural workers”, increased by 164,000, far exceeding market expectations of 115,000, and the previous value was 101,000; the number of people receiving unemployment benefits at the beginning of last week was 202,000, which was lower than Expected 216,000, the previous value was 220,000.
The consensus among investors is that the market is overdue for a pullback following stocks soared late last year.Nasdaq The 100 index fell nearly 3% in two days this month, and swaps traders have been reining in their bets on rate cuts.
“This confirms that things are not going to move as quickly as some hoped. What needs to be accepted is that the Fed is still very driven by inflation and economic data,” said Lindsay James, investment strategy at Quilter Investors.
In terms of energy, West German crude oil futures traded above US$73 per barrel this week, mainly due to supply disruptions in Libya;Brent crude oilFutures are trading at nearly $79 a barrel.
As of 22:00 Taipei time on Thursday (4th): Focus stocks:
apple (AAPL-US) shares fell 0.95% in early trading to $182.50 per share
According to foreign media reports on Thursday, Apple has become the most unpopular large technology stock on Wall Street and has once once more been downgraded by another investment bank. This move not only revealed Wall Street’s growing concerns regarding Apple’s iPhone sales, but also highlighted the cautious attitude of analysts. .
Mobileye(MBLY-US) shares fell 27.34% in early trading to $28.86 per share
US chip maker Intel (INTC-US)’s autonomous driving technology company Mobileye warned on Thursday that reduced orders due to customers clearing excess inventory would hit revenue this year. Shares of automotive chip suppliers sold off following the news broke.
Walgreens(WBA-US) shares fell 8.02% in early trading to $23.49 per share
Walgreens, the drug and cosmetics retail giant, announced its first-quarter financial results for fiscal year 2024 before the U.S. stock market opened on Thursday. Due to its strong performance in its pharmacy business, revenue increased by 10% in the quarter and its profit performance was also outstanding, both beating Wall Street. analysts expected. Notably, the company announced it would reduce its quarterly dividend for the first time in nearly 50 years to conserve cash.
Today’s key economic data:
- U.S. ADP added 164,000 new jobs in December last year, compared with expectations of 115,000, and the revised previous value of 101,000
- The number of people claiming initial unemployment benefits in the United States last week was 202,000, compared with the expected 216,000, and the revised previous value was 220,000
- The number of people continuing to receive unemployment benefits in the United States last week was 1.855 million, which was expected to be 1.883 million. The revised previous value was 1.886 million.
- The final value of the Markit Comprehensive PMI in the United States in December last year was 50.9, which was expected to be 51.0, and the previous value was 50.7
- The final value of the Markit services PMI in the United States in December last year was 51.4, which was expected to be 51.3 and the previous value was 50.8.
Wall Street analysis:
Peter Cardillo, chief market economist at Spartan Capital Securities, said today’s ADP and unemployment benefits data put a question mark on whether tomorrow’s non-farm payrolls report will exceed market expectations. While today’s data is favorable for those looking forward to a soft landing for the U.S. economy, U.S. stocks have already experienced a sharp rebound and are now experiencing a technical correction.
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