With the opening of the Jackson Hole Global Central Bank Annual Conference, the leading US stock index continued to rise on Thursday (25),10-Year US Treasury YieldIn retreat, Wall Street ignored NVIDIA’s poor financial report, chip shares made rapid progress, Snowflake was up 22.82%, and US shares rose sharply in recent trading.Dow JonesIt closed more than 320 points in the red and the S&P was up more than 1.4%, extending gains for the second trading day.that fingerincreased by more than 1.6%,half shareIt increased by 3.66%.
In terms of politics and economics, the annual meeting of global central banks will be held on Thursday. Prior to Fed Chairman Powell’s speech on Friday, Fed officials once again “played eagles.”
St. Louis Fed Chairman James Bullard said on Thursday that inflation may be more persistent than many expected, supporting a benchmark interest rate hike from 3.75% to 4% by the end of the year. end of year. Kansas Federal Reserve Bank President Esther George (Esther George) said the federal funds rate may need to exceed 4% and remain high for some time to achieve the desired effect.
Additionally, the White House said Thursday that US President Biden intends to attend Intel’s unveiling ceremony for a fabulous new area in Ohio on September 9. Biden will publish information on the “Chip and Science Act” and the bipartisan infrastructure bill passed 2021. the conversation.
In terms of geopolitics, under the active promotion of the European Union, the United States and Iran recently entered into indirect negotiations on the resumption of the 2015 Iranian nuclear deal. The United States responded to the European Union by resuming the Iranian nuclear deal on Wednesday. “The United States will accept the nuclear deal with Iran if it is in the best interest of the United States,” White House spokeswoman Karine Jean-Pierre further revealed Thursday. Brent crudeFutures fell below $ 100 a barrel on Thursday.
Foreign media reported Thursday that US and Chinese regulators are close to reaching an agreement on the review of Chinese equities, with representatives from the US Public Company Accounting Oversight Board (PCAOB) heading to Hong Kong to verify the documents as soon as next month. The news prompted Chinese stocks to rise on Thursday.
Republican Senator Marsha Blackburn arrived in Taiwan on a special plane Thursday, showing strong support for Taiwan, after US House Speaker Nancy Pelosi and US Senate Foreign Relations Committee Chair Ed Markey, the third US congressional delegation visited Taiwan in August.
The global epidemic of novel coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases worldwide exceeded 599 million and the number of deaths exceeded 6.48 million. More than 12.5 billion doses of the vaccine have been administered in 184 countries around the world.
The performance of the four major US equity indices on Thursday (25):
- US stocksDow JonesUp 322.55 points, or 0.98%, to 33,291.78.
- NasdaqThe index rose 207.74 points, or 1.67 percent, to close at 12,639.27.
- S&P 500 IndexUp 58.35 points, or 1.41 percent, to stand at 4,199.12.
- Semiconductor of PhiladelphiaThe index rose 104.9 points, or 3.66 percent, to close at 2,971.1.
Focus the actions
The five kings of science and technology have risen collectively. apple (AAPL-USA) increased by 1.49%; Half (META-US) increased by 3.38%; Alphabet (GOOGL-US) increased by 2.60%; Amazon (AMZN-USA) increased by 2.60%; Microsoft (MSFT-USA) increased by 1.11 percent.
Dow JonesConstituent stocks generally closed in red. Boeing (BA-US) increased by 3.53%; Dow Chemical (DOW-US) increased by 2.8%; Kaiyuan Heavy Industries (CAT-US) rose 2.43%; JPMorgan (JPM-USA) increased by 2.37%; Salesforce (CRM-USA) fell 3.39%.
half shareAlmost all constituent stocks were higher. microns (MU-USA) increased by 4.96%; AMD (AMD-USA) increased by 4.80%; NVIDIA (NVDA-USA) increased by 4.01%; Applied materials (AMAT-USA) increased by 3.47%; Texas Instruments (TXN-USA) increased by 2.97%; Qualcomm (QCOM-USA) increased by 3.50%.
Taiwan’s equity ADR group hit its peak. TSMC ADR (TSM-USA) rose by 2.35%; ASE ADR (ASX-USA) rose by 3.24%; UMC ADR (UMC-USA) rose by 3.57%; Chunghwa Telecom ADR (CHT US) increased by 0.22%.
Company news
Twitter (TWTR-USA) reversed course on Thursday, closing up 0.56% at $ 41.05 per share. A US judge ordered Twitter to provide an estimate of the number of spam bots or accounts in an audit sample of Musk in the fourth quarter of last year, rejecting most of Musk’s “ridiculous and extensive” data requests.
The American leader of electric cars Tesla (TSLA-USA), which traded at less than $ 300 per share as of Thursday’s open, after performing a “one in three” stock split, its stock closed 0.35% lower at $ 296.07 per share. .
NVIDIA (NVDA-USA) rose 4.01 percent to $ 179.13 per share. Although NVIDIA’s second quarter earnings missed expectations and its forecasts were conservative, Morgan Stanley expects NVIDIA’s gaming business to hit a low in the third quarter, leading to a fairly sharp rebound of the business as early as the fourth quarter.
Snowflake cloud computing software company (SNOW-US) was up 23.07% to $ 196.28 per share, the largest one-day gain since its listing. Snowflake reported second-quarter earnings after the bell on Wednesday, with revenue exceeding analyst expectations and raising forecasts for the full year, boosting market confidence in healthy demand for cloud computing services.
city (C-USA) was up 2.06 percent to $ 52.06 per share on Thursday. Citigroup said it will close its consumer banking and local commercial banking operations in Russia, expecting to incur approximately $ 170 million over the next 18 months. Citi’s exposure to Russia was $ 8.4 billion as of June 30th.
Economic data
- The number of Americans who received unemployment benefits last week reported 243,000, expected 253,000, the previous value of 245,000.
- The number of people receiving unemployment benefits in the United States reported 1.415 million last week, 1.442 million are expected and the previous value was 1.434 million
- US Quarterly Real GDP Growth Rate in Q2 Revised to -0.6%, Expected -0.8%, Previously -0.9%
- The core PCE price index in the US in the second quarter was revised at an annualized rate of 4.4%, forecast at 4.4%, and to the previous value of 5.2%
- The US August Kansas Fed manufacturing index returned -9, the previous value of 7
- The US Kansas Federal Reserve Bank Manufacturing Composite Index returned 3 in August, up from 13 previously
Wall Street Analysis
“The Fed shouldn’t hesitate to respond to high inflation as Powell faces the enormous challenge of finding ways to cool price growth without hurting the economy,” said Mohamed El-Erian, Chief Economic Advisor to Allianz Group. .
“With inflation so high and the labor market very tight, there is no reason for Powell to take a more dovish stance, instead the goal of Powell’s speech should be to demonstrate determination to restore price stability. , even at the expense of economic growth, “UBS analysts said. “
Federated Hermes fund manager Steve Chiavarone advises: “Bauer’s speech has always been unknown and no one knows what it will convey? So investors need to be flexible in every situation. This is a market driven by general economic factors.”
The data is updated before the deadline, please refer to the actual quotation.
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