U.S. stocks closed: The Dow fell nearly 50 points, Chinese concept stocks generally fell, and Alibaba fell more than 9% after its results – Mobile Finance

U.S. stocks closed: The Dow fell nearly 50 points, and Chinese concept stocks generally fell, Alibaba fell more than 9% after its results.

financial

2023-11-17 05:46:26

According to financial news on November 17, the number of people continuing to apply for unemployment benefits in the United States rose to the highest level in the past two years last week, and the home builders’ confidence index fell to 34 in November, which was lower than all economists’ expectations. U.S. stocks closed in a narrow range throughout the day. There were mixed gains and losses, with the Dow falling nearly 50 points, the Nasdaq rising slightly by 0.07%, and the S&P rising slightly by 0.14%; most large technology stocks rose, with Microsoft continuing to hit new closing highs for three consecutive trading days, Intel rising by more than 6%, and Cisco falling. Nearly 10%, Wal-Mart fell more than 8%, Tesla fell nearly 4%; most Chinese concept stocks fell, Alibaba fell more than 9%, Bilibili fell 7.7%, and Xpeng Motors fell 6.6%.

As of the close, the Dow Jones Index fell 45.74 points, or 0.13%, to 34945.47 points; the S&P 500 Index 1 rose 6.09 points, or 0.14% to 4508.97 points; the Nasdaq Composite Index rose 9.84 points, or 0.07%, to 14113.67 points.

The price of gold futures for December delivery on the New York Mercantile Exchange rose $22.90, or 1.17%, to close at $1,987.20 an ounce. West Texas Intermediate crude oil futures for December delivery on the New York Mercantile Exchange fell $3.76, or 4.9%, to settle at $72.90 a barrel. Global benchmark Brent crude oil prices fell $3.76 in January to $77.42 a barrel on ICE Futures Europe, a 4.6% decline. Brent crude and West Texas Intermediate crude both closed at their lowest levels since July 6, according to front-month contracts, according to Dow Jones Market Data. December gasoline fell 4.6% to $2.10 a gallon; December heating oil fell 4.1% to $2.75 a gallon. Natural gas prices for December delivery fell 4.14% to settle at $3.06 per million British thermal units.

Popular Chinese concept stocks generally fell on Thursday, with the Nasdaq Golden Dragon Index falling more than 3%. Connect Biopharmaceuticals rose by more than 11%, Daily Youxian rose by more than 5%, Paimingxin City rose by more than 4%, Qijing Optoelectronics, Gracell Biotech, etc. rose by more than 3%, Tuniu, Tencent Music, Liantuo Biotech, etc. Over 2%, Lanting Jishi, SoYoung, New Oriental, Huya, Fanhua Holdings Group, Cheche Technology, Huirong Technology, etc. rose over 1%, while Cheetah Mobile, Jianpu Technology, and Ehang Intelligent rose slightly.

Century Internet fell more than 26%, Fulang Group fell more than 13%, Monster Charge fell more than 12%, Alibaba fell more than 9%, Baijiayun, Kingsoft Cloud, NetEase Youdao, etc. fell more than 8%, Lufax Holdings, Bilibili, Bit Digital, Dingdong Maicai, etc. fell more than 7%, Weilai, Xpeng Motors, Quantum Song, JinkoSolar, etc. fell more than 6%, 360 Digital, Global Murphey, Jinsheng Amusement, Mavericks Electric, Tuozhen Biotechnology, Tiger Securities, AMTD Digital, etc. fell more than 5%, Dada Group, Energy Chain Smart Electric, iQiyi, Li Auto, etc. fell more than 4%, Douyu, BeiGene, Manchuria, etc. Bang, Baidu, Sohu, Xunlei, etc. fell more than 3%, Vipshop, Shengfeng Logistics, Qudian, Shuidi Company, Shell, NetEase, etc. fell more than 2%, JD.com, Miniso, Huanju Group, Autohome, Pinduoduo, Ctrip, etc. fell more than 1%, while Lychee, Mogujie, and 36 Krypton rose slightly.

Russian oil export prices in October were almost all above price ceilings set by the G7

Nearly all of Russia’s oil exports are priced above price caps set by the Group of Seven (G-7) countries last month, the latest sign that Western sanctions are failing to limit Russia’s access to petrodollars. A KSE Institute survey of detailed trade and shipping data shows that more than 99% of the country’s seaborne crude prices are well above the $60 a barrel threshold set by G-7 countries nearly a year ago.

The research house said the average price of crude oil shipped from Russia’s main ports reached $79.40 per barrel when exported. KSE Institute is affiliated with the Kiev School of Economics and is currently working to promote stricter sanctions against Russia.

U.S. homebuilder confidence falls to lowest level this year

U.S. homebuilder confidence fell to its lowest level this year in November as high mortgage rates dampened demand for housing.

The National Association of Home Builders (NAHB)/Wells Fargo Homebuilder Confidence Index fell 6 points this month to 34, below the expectations of all economists surveyed, according to data released Thursday. High mortgage rates have hammered the housing market this year, worsening an affordability crisis that has deterred many would-be buyers. However, U.S. Treasuries have rallied in recent weeks on speculation that the Federal Reserve has ended raising interest rates, which has led to a slight decline in borrowing costs.

Walmart beats expectations for third-quarter results but remains cautious on consumer support

“We are more cautious about consumers now than we were 90 days ago,” Walmart Chief Financial Officer John David Rainey said in an interview Thursday after the earnings release. Rainey said sales saw a “sharper drop” in the last two weeks of October. While sales and holiday shopping got November off to a good start, rising interest rates and resumption of student loan payments are weighing on demand.

Even as Walmart takes more share from many rivals, the company’s cautious tone signals uncertainty about consumer spending, which drives the bulk of the U.S. economy. Walmart’s U.S. comparable sales, excluding fuel, rose 4.9% in the three months ended October. Target and Home Depot reported losses this week.

Bank of England official Greene: Interest rates need to remain higher for longer

Megan Greene, a policy-making official at the Bank of England, said that interest rates need to remain high for a longer period of time to control inflation, and the market has not yet digested the increase in the natural interest rate and natural unemployment rate since the epidemic.

Greene called recent data showing inflation falling to 4.6% and wage growth slowing “good news.” Greene joined the Bank of England’s nine-member Monetary Policy Committee in August. But she remains concerned that the CPI’s services sub-sector shows evidence that inflation will continue. She also said wage increases were still “incredibly high”.

“The idea that the long-run neutral rate, the natural unemployment rate, might be a little bit higher is not something that everyone is trying to digest,” Greene said in a television interview on Thursday. “But it just goes to show that once the dust settles, the world will be different than it was before the pandemic. It suggests that we may need to keep restrictions in place for longer.”

Barclays strategists expect global stocks to outperform bonds next year

Barclays strategists have become the latest group of people to be bullish on stocks, saying that global stocks will outperform bond markets in 2024 in the face of an economy close to a “soft landing”.

The team, led by Ajay Rajadhyaksha, said it was overweight global equities relative to global core fixed-income assets and said it expected “mid-to-high single-digit returns” in the U.S. and Europe next year. The forecast holds true even as bond yields remain high and S&P 500 earnings expectations “seem overly optimistic in our view,” they wrote in a note. In contrast, there are growing predictions that bonds will outperform – Pimco is bullish on the asset class. A recent Bank of America survey showed investors are the most bullish on bonds since the financial crisis.

Fed’s vice chair for supervision expresses concerns about hedge funds’ basis trades in U.S. Treasuries

The Federal Reserve’s top banking regulator joined U.S. officials on Thursday in voicing concerns about highly leveraged trades by hedge funds in the U.S. Treasury market. Michael Barr, the Fed’s vice chairman for supervision, said the government needs more information about leveraged trading. Over the past few months, regulators have been focusing on the possible risks posed by a strategy called basis trading. This strategy uses leverage to profit from the price difference between U.S. Treasury futures and the spot market.

Barr said in remarks prepared for a Treasury market conference at the New York Fed that leveraged trading, including so-called basis trading, can play an important role in capital markets and can improve market efficiency, “but leverage also increases market participants and There are risks associated with the operation of the U.S. Treasury market, and investors and their counterparties must properly manage risks, including by collecting margin to manage counterparty risk.”

Alibaba’s adjusted net profit in the second fiscal quarter was 40.188 billion yuan, a year-on-year increase of 19%

Alibaba released its quarterly results for the end of September 2023. The group’s revenue during the period was 224.790 billion yuan, a year-on-year increase of 9%; operating profit was 33.584 billion yuan, a year-on-year increase of 34%; net profit attributable to ordinary shareholders was 27.706 billion Yuan, turning a loss into a profit year-on-year. In addition, Alibaba’s spin-off and listing have encountered obstacles. The most attention-grabbing one is that Hema’s spin-off and listing has been suspended, and Alibaba Cloud is no longer promoting a complete spin-off.

Alibaba’s SEC filings attracted market attention, and Jack Ma’s family trust plans to sell the company’s U.S. shares

According to the 144 documents submitted by the U.S. listed company Alibaba to the U.S. Securities and Exchange Commission (SEC), two entities belonging to the Jack Ma family trust plan to sell a total of 10 million Alibaba shares on November 21.

NetEase’s net income in the third quarter was 27.3 billion yuan, a year-on-year increase of 11.6%

NetEase’s net income in the third quarter was 27.3 billion yuan, an increase of 11.6% year-on-year; gross profit was 17 billion yuan, an increase of 23.4% year-on-year; net profit attributable to the company’s shareholders was 7.8 billion yuan; non-GAAP earnings attributable to the company’s shareholders Net profit from continuing operations was 8.6 billion yuan; basic net profit per share was US$0.33.

Dingdong Maicai’s revenue in the third quarter was 5.14 billion yuan, with an adjusted net profit of 15.5 million yuan

Dingdong Maicai today released its financial report for the third quarter of 2023 as of September 30: revenue was 5.1397 billion yuan, compared with 5.9425 billion yuan in the same period in 2022. Net profit was 2.1 million yuan, compared with a net loss of 344.9 million yuan in the same period in 2022; Non-GAAP net profit was 15.5 million yuan, compared with a net loss of 285.2 million yuan in the same period in 2022.