Investors digested mixed earnings reports and economic data. The major US stock index fluctuated in a tight range on Thursday (18). As oil prices rise, energy stocks have attracted attention. Cisco’s optimistic financial outlook pushed tech stocks higher. Silicon Carbide Wolfspeed’s big financial report and financial forecast exceeded expectations and chip shares are back in the embrace of many parties. At the end of the four main indices,Dow Jonesslightly up by 18.72 points,that fingerWith the S&P up more than 0.2%,half shareIt increased by 2.28%.
Further economic data on Thursday sheds light on the state of employment and the housing market. Initial jobless claims dropped to 250,000 in the week ending August 13, while existing home sales fell nearly 6% in July.
Markets are still digesting the July Fed minutes’ stance on the future path of interest rate hikes and look forward to next week’s Jackson Hole at the annual global central bank meeting.
On Thursday, St. Louis Fed Bank President Bullard (James Bullard) expressed support for the Fed to raise interest rates again by 3 yards in September, and it is too early to judge that inflation has peaked. Known as the “Queen of the Eagle,” Kansas Fed Chairman George (Esther George) also said that although the US Consumer Price Index (CPI) data in July brought good news, but they cannot prove that the fundamental problem of inflation has been solved.
In terms of geopolitics, the United States and Taiwan announced on Thursday the start of negotiations on the 21st Century Trade Initiative, which focuses on 11 big issues such as trade facilitation and small and medium-sized businesses, without involving tariffs. it should take place in the fall.
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 593 million and the number of deaths exceeded 6.44 million. More than 12.4 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 (18):
Focus the actions
The five heavenly kings of science and technology float with each other. apple (AAPL-USA) fell by 0.23%; Half (META-US) fell by 0.11%; Alphabet (GOOGL-US) increased by 0.52%; Amazon (AMZN-USA) increased by 0.14%; Microsoft (MSFT-USA) fell 0.39%.
Dow JonesThe constituent actions were mixed. Cisco (CSCO-USA) rose by 5.81%; Chevron (CVX-USA) increased by 1.75%; Dow Chemical (DOW-US) increased by 1.01%; Walgreens United Boots (WBA-USA) fell by 5.32%; Verizon Communications (VZ-USA) fell by 2.54%.
half shareConstituent actions have increased. Wolfspeed (WOLF-US) rose by 31.86%; Micron (MU-USA) increased by 2.21%; AMD (AMD-USA) increased by 2.21%; NVIDIA (NVDA-USA) increased by 2.39%; Applied materials (AMAT-USA) increased by 2.14%; Texas Instruments (TXN-USA) increased by 0.99%; Qualcomm (QCOM-USA) increased by 1.92%.
Taiwan’s equity ADR is only weaker than Chunghwa Telecom. TSMC ADR (TSM-USA) rose by 0.08%; ASE ADR (ASX-USA) rose by 0.64%; UMC ADR (UMC-USA) rose by 0.85%; Chunghwa Telecom ADR (CHT US) fell 0.39%.
Company news
apple (AAPL-USA) fell 0.23 percent to $ 174.15 per share. Tianfeng International Securities analyst Ming-Chi Kuo said on Thursday that Apple could release new products such as the iPhone 14 series on September 7, ahead of the release of the iPhone 12 and iPhone 13, mainly to avoid the risks to iPhone demand due. to the economic contraction.
The silicon carbide giant Wolfspeed (WOLF-US) was up 31.86% to $ 112.94 per share. Wolfspeed’s earnings report and forecast exceeded expectations, revenue in the fourth quarter of fiscal year 2022 (ended June 26, 2022) increased 56.7% year-on-year to $ 228.5 million and the Adjusted earnings per share dropped sharply from $ 0.23 a year ago to $ 0.02, forecast revenue for the quarter to be between $ 232.5 million and $ 247.5 million, beating analysts’ forecasts and foreseeing that its losses could further reduce.
Network giant Cisco (CSCO-USA) rose 5.81 percent to $ 49.37 per share. Cisco reported Wednesday overtime that revenue for the fourth quarter of fiscal year 2022 (ended July 30, 2022) was stable at $ 13.1 billion and adjusted earnings per share fell 1.2% yr. over year at $ 0.83, beating market expectations and a new financial forecast surprised the market.
Meme stock Bed Bath & Beyond (BBBY-US) plunged 19.63% Thursday after GameStop President Ryan Cohen sold his stake, but market speculation continued, with biopharmaceutical company Mind Medicine (MNMD-USA) was another meme stock that drove retail investors crazy, its stock was up 36.18% to $ 1.02 per share.
Kohl (KSS-USA) fell 7.72 percent to $ 31.33 per share. Following Target’s weak earnings report, major US department store Kohl’s also performed poorly. Although revenue and profits in the prior quarter exceeded Wall Street expectations, Kohl’s lowered its full-year forecast due to increased promotions and higher costs. Financial forecasts.
Economic data
- The first jobless claims in the US reported 250,000 last week, 265,000 expected and 252,000 previously
- The number of people receiving unemployment benefits in the United States reported 1.437 million last week, 1.438 million are expected and the previous value was 1.43 million
- US Philadelphia Fed Manufacturing Index reported 6.2, expected – 5.0, previously – 12.3
- Annualized total US existing home sales in July were 4.81 million units, approximately 4.89 million units and the previous value of 5.11 million units
- US July existing home sales annualized monthly rate of -5.9%, the previous value -5.5%
- The monthly rate of the July US Conference Leading Indicator was -0.4%, the forecast was -0.5%, the previous value was -0.7%
Wall Street Analysis
Wall Street Bull, JPMorgan strategist Marko Kolanovic warns, waitS&P 500 IndexThose looking for dips below 3,500 are likely to fail again and the Federal Reserve may be too aggressive ahead of the mid-term elections in the US, upsetting financial markets.
Nathan Sheets, Citi’s chief global economist, said: “Although financial markets have turned more positive recently, we remain concerned about the fundamentals of the global economy, which is likely to be impacted by high inflation, slowing real GDP (GDP). ) and the rapid tightening of monetary policy “.
The data is updated before the deadline, please refer to the actual quotation.
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