After Fed Chairman Powell “released the eagle,” the two-year term and the 10-Year US Treasury YieldOn Thursday (3rd) the curve reversed to a new record, the economic downturn engulfed Wall Street, tech stocks were in the dark, Apple plunged more than 4%, Amazon suffered the longest dip since 2019, and the four major indices have sold out.
Dow JonesIt closed down nearly 150 points on Thursday, with the S&P down more than 1%.that fingerIt fell as low as 1.73%, extending its fourth consecutive day of declines.half shareIt fell more than 1.5 percent, falling for two consecutive sessions.
The outside world is concerned about the non-farm payroll report that will be released on Friday. According to Bloomberg data, analysts expect U.S. non-farm payrolls to add 195,000 people in October and expect the unemployment rate to remain around 3.6%. One of the key figures to assess the extent of the December rate hike.
The Federal Reserve on Wednesday raised its benchmark interest rate corridor by 3 yards to a range of 3.75% to 4%, after Powell said Wednesday that the final rate may be higher than expected.10-Year US Treasury YieldClose to Thursday’s year high, the more rate-sensitive 2-year US Treasury yield rose more than 4.7%.
Following the Fed’s hawkish rate hike, the Bank of England also unleashed a market storm after announcing a 3-yard rate hike on Thursday.GBPfell against the dollar. And European Central Bank President Christine Lagarde warned:EURThe regional economy is expected to face a mild recession.
On Thursday, the International Energy Agency (IEA) warned that with rising demand from China and falling supply from Russia, Europe must act now to tackle a bigger supply challenge next winter.
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 631 million and the number of deaths exceeded 6.59 million. More than 12.7 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 (3rd):
Focus your actions
The five kings of science and technology are stained with blood. apple (AAPL-USA) fell by 4.24%; Alphabet (GOOGL-US) fell by 4.07%; Microsoft (MSFT-USA) fell by 2.66%; Half (META-US) fell by 1.80%; Amazon (AMZN-USA) fell by 3.06%.
Dow JonesMore than half of the constituents closed in the dark. view (V-USA) fell by 3.09%; American Express (AXP-USA) fell by 2.92%; Disney (DIS-USA) fell by 2.52%; Home Depot (HD-USA) fell by 2.5%; Boeing (BA-US) rose by 6.34%.
half shareThe constituent titles were essentially weak. NVIDIA (NVDA-USA) increased by 1.53%; Applied materials (AMAT-USA) fell by 1.66%; Texas Instruments (TXN-USA) fell by 1.24%; Micron (MU-USA) increased by 0.056%; Intel (INTC-USA) fell by 0.11%; Qualcomm (QCOM-USA) fell by 7.66%; AMD (AMD-USA) increased by 2.52%.
Blacker Taiwan ADR shares. TSMC ADR (TSM-USA) fell by 0.40%; ASE ADR (ASX-USA) rose by 1.41%; UMC ADR (UMC-USA) fell by 0.17%; Chunghwa Telecom ADR (CHT US) fell by 0.89%.
Company news
The American e-commerce giant Amazon (AMZN-USA) fell 3.06% to $ 89.30 per share, down for seven consecutive sessions. In the midst of the tech winter, Amazon froze corporate hiring. The company’s chief of human resources said Thursday that the company will suspend hiring for a few months in response to “unusual macroeconomic conditions”, watching future economy and business models to make adjustments.
More advertisers on Twitter (TWTR-USA) content moderation voiced concern and General Mills, Audi and Pfizer joined General Mills, Audi and Pfizer after General Motors suspended paid advertising on Twitter. At the same time, Musk was rumored to have asked Twitter to cut infrastructure costs by about $ 1 billion.
Qualcomm (QCOM-USA) plunged 7.66% to $ 103.88 per share. Qualcomm reported earnings for the fourth quarter of the fiscal year (September quarter) after the bell on Wednesday, in line with expectations, but the forecasts for the first quarter were well below analysts’ expectations.
under the armor (SAU-USA) was up 12.13% to $ 7.95 per share. Under Armor reported better-than-expected revenue and earnings for the second quarter of fiscal year 2023, although the company lowered its forecast for the year.
Peloton fitness equipment manufacturer (PTON-US) rose 8.23 percent to $ 9.34 per share. Plotton’s latest earnings report was grim, with revenue and losses missing both analysts’ expectations, and fourth-quarter forecasts were also gloomy.
Economic data
- U.S. trade balance reported as of September – $ 73.3 billion, projected – $ 72.2 billion, previous value – $ 65.7 billion
- The U.S. balance of goods trade in September was revised to $ -91.91 billion, up from $ -92.22 billion previously
- The number of Americans who received unemployment benefits last week reported 217,000, expected 220,000, the previous value of 218,000.
- The number of people receiving unemployment benefits in the United States reported 1.485 million last week, 1.45 million is expected and the previous value was 1.438 million
- The monthly growth rate of US durable goods orders in September was revised to 0.4%, expected to be 0.4%, and to the previous value of 0.4%
- US factory order monthly growth rate in September was 0.3%, expected to be 0.3% and the previous value was 0.2%
- US October Non-Manufacturing ISM Index reported 54.4, expected 55.5, the previous value of 56.7
Wall Street Analysis
Mark Haefele, chief investment officer of UBS Global Wealth Management, said: “The market is rightly more concerned about the maximum level of interest rates than about the pace of tightening, the conditions for a sustained rise in equities are not in place and the Fed and other central banks should be in 2023. Rate hikes continued until the first quarter. “
According to Haefele, “Economic growth is likely to continue to slow next year and, in a tightening environment, global financial markets are vulnerable to pressure. This headwind has not yet been fully reflected in forecasts or equity valuations.” .
John Luke Tyner, portfolio manager at Aptus Capital Advisors, predicts: “If Apple, Amazon and Microsoft continue to decline, it will be difficult for the S&P to rise because these companies carry such a large weight. The decline of the tech giants could take the S&P to 3,200 points. approximately, well below current levels.
The data is updated before the deadline, please refer to the actual quotation.
