The Federal Reserve (Fed) continued to crack down on sentiment of market risk, the British pound and British bonds plummeted, the dollar climbed back to a record high and the VIX panic index rose above 30.10-Year US Treasury YieldOn the upside, US stocks failed to rebound in early Monday trading (26) and tech stocks went black and fell.
Dow JonesIt closed more than 320 points and fell into a bear market for the first time since 2020. The S&P fell more than 1% to 3,655.04 points, which was lower than its previous low from mid-June and hit a new low. from December 2020, while Apple closed in thrilling red.
On the political and economic front, the “hawks” of Fed officials lingered. Atlanta Fed President Raphael Bostic said Monday that the Fed still has a long way to go to reduce inflation.
Susan Collins, chairman of the Federal Reserve Bank of Boston, a member of the Federal Open Market Committee (FOMC) voting committee, said in her first speech since taking office in July that for the Fed to achieve price stability, it must slowing the pace of employment growth, while raising the unemployment rate to some extent, supports the need for further monetary tightening to curb inflation.
Last week the UK government announced its largest tax cut and investment incentive plan since 1972 and investors fear the UK will fall into recession due to large tax and loan cuts.GBPI fear it will fall to par with the dollar and that the UK currency and equity and bond markets are in turmoil.
The Bank of England (BOE) tried to reassure investors on Monday, saying it was closely monitoring developments in financial markets and would change interest rates “without hesitation” if necessary.
The European Union could delay an agreement on a ceiling on the price of Russian oil until a more comprehensive package of sanctions is reached, foreign media reported, citing sources. Negotiators said countries such as Cyprus and Hungary have opposed setting an oil cap.
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 615 million and the number of deaths exceeded 6.53 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 Monday (26):
Focus your actions
The five heavenly kings of science and technology have seen ups and downs. apple (AAPL-USA) increased by 0.23%; Half (META-US)) fell by 2.88%; Alphabet (GOOGL-US) fell by 0.58%; Amazon (AMZN-USA) increased by 1.20%; Microsoft (MSFT-USA) fell by 0.20%.
Dow JonesMore than half of the constituent shares fell. traveler (TRV-USA) fell by 3.14%; Boeing (BA-US) fell 2.99%; Chevron (CVX-USA) fell by 2.63%; Goldman Sachs (GS-USA) fell by 2.43%; Walmart (WMT-USA) increased by 0.96%.
half shareConstituent actions generally closed in the dark. Intel (INTC-USA) fell by 2.00%; Micron (MU-USA) fell by 2.44%; NVIDIA (NVDA-USA) fell by 2.30%; AMD (AMD-USA) fell by 2.44%; Applied materials (AMAT-USA) fell by 1.60%; Qualcomm (QCOM-USA) fell by 1.20%; Texas Instruments (TXN-USA) fell by 0.51%.
Chunghwa Telecom alone is Taiwan’s strongest equity ADR. TSMC ADR (TSM-USA) down 1.16%; ASE ADR (ASX-USA) down by 2.65%; UMC ADR (UMC-USA) fell by 2.37%; Chunghwa Telecom ADR (CHT US) increased by 0.94%.
Company news
apple (AAPL-USA) received an exciting dividend of 0.23% at $ 150.77 per share. JPMorgan analyst Samik Chatterjee reported Sunday (25) that two weeks after the launch of Apple’s iPhone 14 series, demand for the high-end iPhone 14 Pro model is still strong, which is a good sign for the Apple’s net profit.
The American chip giant Intel (INTC-USA) fell 2.00% to $ 26.97 per share. According to the market, Intel and the Italian government initially finalized the creation of a large European chip factory in Vigasio, a city in northeastern Italy. In addition, Intel’s Mobileye and Geely Holding Group announced further expansion of cooperation on Advanced Driver Assistance Systems (ADAS) and autonomous vehicle technology.
Tesla (TSLA-USA) rose 0.25% to $ 276.01 per share. There were no fatalities reported Monday at Tesla’s German plant. A spokesman for Tesla’s German factory said that 800 cubic meters of cardboard, paper and wood waste at the recycling plant outside the factory caused the fire and that the fire was essentially extinguished after local firefighters they were sent to save the disaster five hours later.
Macau plans to reopen to Chinese tourist groups as soon as November, increasing game stocks. Sands Corp (LVS – USA) was up 11.72%, Wynn Resorts (WYNN-USA) was up 11.99%.
PG&E (PCG-USA) rose 1.11 percent to $ 12.75 per share. EQT (EQT-USA) fell 4.56 percent to $ 39.38 per share.The two companies will join on October 3S&P 500 Indexto replace Citrix and Duke Realty.
Wall Street Analysis
Mike Bailey, research director at FBB Capital Partners, said: “The economy in general looks like a remake of the movie ‘West Side Story’, with the central bank chasing the job market and the job market refusing to leave it. go. Fed President Powell and BOE President Bailey are trying to slow economic growth, but now employers are keeping as many employees as possible to avoid job losses as they recover from the next recession. “
“The market now appears to be suffering from the typical effects of a deep recession, with the oil sell-off likely to see OPEC intervene again,” said the ANZ report.
“The US market will continue to be challenged by uncertainty ahead of the start of its third earnings season next month, which will provide more insight into the health of corporate earnings and earnings,” said John Stoltzfus, Oppenheimer’s investment strategist. .
“Investors will also be watching closely the Fed’s preferred inflation indicator, fundamental personal consumption spending (PCE) in the second quarter, expected on Thursday, looking for signs of cooling inflation. What the market needs to see now for getting out of the current conundrum is that inflation starts to drop significantly. “
The data is updated before the deadline, please refer to the actual quotation.
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