U.S. bond yields continued to rise, putting pressure on risky assets. U.S. stocks opened slightly lower on Wednesday (24th). The Dow Jones Industrial Average fell 17 points or 0.05%, the Nasdaq fell 0.4%, and the S&P 500 fell 0.14% , Fee half fell 0.4%.
U.S. Treasury yields continued to rise. Before the deadline, 10-year U.S. Treasury yields reported 1.42%, and 30-year U.S. Treasury yields reported 2.287%, the highest since January last year.
After a strong start at the beginning of the year, the stock market has been volatile recently, and technology stocks have led the decline several times. Driven by economic growth prospects and expectations of rising inflation, the rise in government bond yields has accelerated the rotation of stocks, and cyclical stocks that have been hit hard during the epidemic have turned to benefit.
Technology stocks continued to fall on Wednesday, and Microsoft (MSFT-US)、Alphabet(GOOGL-US), Amazon (AMZN-US) And apple (AAPL-US) Opened 0.9% to 1.6% respectively
Tesla, which fell into the bear market yesterday, stopped falling and rebounded. At one time, it rose by nearly 3%. ARK founder Cathie Wood previously announced an increase of 171 millionUSDBuy Tesla.
In addition, banking, industrial and energy stocks rose slightly on Wednesday. Bank of America (BAC-US), Caterpillar (CAT-US) And Chevron (CVX-US) All rose more than 1% before the deadline.
Federal Reserve (Fed) Chairman Jerome Powell reiterated when attending a congressional hearing yesterday that he would continue to maintain loose monetary policy. Faced with concerns about inflation caused by rising bond yields, Bauer said that he is still far away from inflation and employment targets, trying to ease investor concerns.
Ball will continue to the House Financial Services Committee on Wednesday to issue a policy report.
At the same time, US government officials said that Biden will sign an executive order on Wednesday to review the supply chain of four key materials, including semiconductors, in order to solve the problem of global chip shortages and prevent the United States from over-relying on overseas supplies. Quotient. The market believes that this move will help boost the recent decline in technology stocks.
As of 22:00 on Wednesday (24th) Taipei time:
- The Dow Jones Index fell 17.17 points or -0.05%, temporarily at 31520.18 points
- Nasdaq fell 48.14 points, or -0.36%, temporarily at 13,417.06 points
- The S&P 500 Index fell 5.44 points, or -0.14%, to 3875.93 points temporarily
- Fees and a half fell by 10.65 points, or -0.35%, to 3,073.23 points temporarily
- TSMC ADR fell 0.15% to 128.91 per share USD
- The 10-year U.S. Treasury yield rose to 1.42%
- New York light crude oil rose 1.04% to 62.31 per barrel USD
- Brent crude oil rose 1.12% to 66.10 per barrel USD
- Gold fell 0.79% to 1,79.60 per ounce USD
- USDThe index rose 0.13% to 90.28 points
Focus stocks:
Fisker(FSR-US) Rose 18.05% in early trading to 19.23 USD。
Fisker announced on Wednesday that it signed an MOU with Hon Hai to jointly develop an electric vehicle project. It is expected to start mass production in the fourth quarter of 2023. The development market includes North America, Europe, China and India, with an estimated annual output of more than 250,000 vehicles.
Jiao Sheng (JNJ-US) Rose 0.68% in early trading to 161.53 USD。
US Food and Drug Administration (FDA) employees issued a report on Wednesday, approving Johnson’s single-dose vaccine for emergency use. An external committee will meet on Friday (26th) to review the emergency use authorization (EUA) of Johnson’s vaccine.
Square(SQ-US) Fell 5.02% to 243.72 in early trading USD。
Digital payment company Square announced its fourth-quarter financial report, revenue increased by 141% year-on-year to 3.16 billionUSD, EPS reported 32 cents after adjustment, which was better than Wall Street consensus.WithoutBitcoinTransaction quarterly revenue was 1.4 billionUSD。
On the occasion of the announcement of the financial report, Square announced an additional 170 millionUSD, Buy 3318 piecesBitcoin.The company originally bought 50 million in October last yearUSDofBitcoin。
Daily key economic data:
- At 23:00, Taipei time, the annualized total number of new home sales in the United States in January will be announced, which is expected to be 859,000, and the previous value was 842,000.
- At 23:00 Taipei time, the annualized monthly growth rate of new home sales in the United States in January will be announced, which is expected to be 2.0%, and the previous value is 1.6%.
- At 23:30, Taipei time, it will announce the increase or decrease of EIA crude oil inventories last week, the previous value-7.257 million barrels
Wall Street analysis:
Paul O’Connor, director of multi-asset management at Janus Henderson Investors, said that since the outbreak, the Fed has maintained the same position, but the momentum of economic recovery may prompt it to change its course, and the speed of change may be faster than investors expected.
Thomas Hayes, chairman of Great Hill Capital LLC, said that Bauer believes that inflation is still relatively mild, so there may be bargain hunting in the market. But there are also views that, in the face of Bauer’s remarks yesterday, if ARK founder Catherine Wood is still willing to get involved in the most popular stocks, then perhaps the market will be safe.
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