Goldman Sachs posted its worst fourth-quarter profit drop in 10 years, financial stocks slumped,Dow Jones IndexOn Tuesday (17th), the stock price closed over 390 points, the largest drop in a month, ending the four-day winning streak.
However, short-term U.S. bond yields fell, capital markets sought after technology stocks, and other indexes moved up and down. The S&P 500 index fell slightly by 0.2%.Philadelphia SemiconductorThe index edged up 0.24%,NasdaqThe index closed at 0.14%, rising for seven consecutive trading days.
Newly released data showed that the New York state manufacturing index plummeted to -32.9 in January, the lowest since May 2020, far below market expectations, mainly due to a sharp decline in orders and stagnant employment growth.
According to the latest survey of global fund managers released by Bank of America, fund managers have greatly reduced their position in US stocks in January, and 39% of fund managers have reduced their holdings of US stocks, the highest since October 2005.
Market research agency Susquehanna Financial Group found that the chip shortage problem is rapidly easing, and the average chip lead time is about 24 weeks, which is three weeks shorter than the record high in May last year. Analyst Christopher Rolland believes the worst of the chip supply shock is over.
In terms of politics and economy, the United States and China are trying to ease economic and trade relations. U.S. Treasury Secretary Yellen will hold physical talks with Chinese Vice Premier Liu He in Switzerland on Wednesday. Visit China on the 6th.
The U.S. and the EU have signed the U.S.-EU Tariff Quotas Agreement, and the U.S. will be able to retain the opportunity for various U.S. agricultural products to enter the EU market after Brexit.
The global new crown pneumonia (COVID-19) epidemic continues to spread. Before the deadline, the Johns Hopkins University (Johns Hopkins University) data pointed out that the number of confirmed cases worldwide has exceeded 667 million, and the number of deaths has exceeded 6.72 million. More than 12.7 billion doses of vaccines have been administered in 184 countries around the world.
The performance of the four major US stock indexes on Tuesday (17th):
Focus stocks
The five kings of technology were mixed. apple (AAPL-US) rose 0.88%; Alphabet (GOOGL-US) down 0.90%; Microsoft (MSFT-US) up 0.47%; Meta (META-US) down 1.18%; Amazon (AMZN-US) down 2.11%.
Dow JonesComponent stocks were led by Goldman Sachs. Goldman Sachs (GS-US) plunged 6.44%; Traveler (TRV-US) fell 4.6%; Verizon Communications (VZ-US) down 2.41%; 3M (MMM-US) down 2.25%; McDonald’s (MCD-US) rose 1.94%.
fee halfConstituent stocks have their ups and downs. NVIDIA (NVDA-US) rose 4.75%; AMD (AMD-US) rose 0.83%; Applied Materials (AMAT-US) down 0.51%; Texas Instruments (TXN-US) down 2.02%; Intel (INTC-US) down 1.69%; Qualcomm (QCOM-US) up 0.033%; Micron (MU-US) fell 0.14%.
Taiwan stock ADR Qi Yang. TSMC ADR (TSM-US) rose 2.52%; ASE ADR (ASX-US) rose 0.85%; UMC ADR (UMC-US) up 2.00%; Chunghwa Telecom ADR (CHT US) rose 0.50%.
Corporate News
apple (AAPL-US) rose 0.88 percent to $135.94 a share.Apple released the new M2 Pro and M2 Max versions of the MacBook Pro without warning. The design of the new product has not changed much compared to the previous generation, mainly through the new processor to achieve stronger performance and battery life. The price in TaiwanNew Taiwan dollar Starting from 64,900 yuan, but the time to market is undecided.
Tesla (TSLA-US) soared 7.43% to $131.49 per share. Tesla’s price cuts in North America, China, Japan, and South Korea have led to a nearly 500% increase in sales in some stores
microsoft (MSFT-US) rose 0.47 percent to $240.35 a share. Microsoft is considering laying off about 5 percent of its workforce, or about 11,000 jobs, sources said.
Alibaba ADR (BABA-US) fell 1.56% to $115.19 per share. The “Wall Street Journal” reported that Ryan Cohen, the “meme king” and GameStop chairman, holds hundreds of millions of dollars worth of Chinese e-commerce giant Alibaba stock, and privately urged Alibaba to expand its treasury stock.
Goldman Sachs and Morgan Stanley’s financial reports and stock prices are different, Goldman Sachs (GS-US) fell 6.44% to $349.92 per share. Morgan Stanley (MS-US) jumped 5.91% to $97.08 a share, its best day since Nov. 10, 2022.
Goldman Sachs announced its financial report for the fourth quarter of the 2022 fiscal year before the U.S. stock market on the 17th. Due to the sharp decline in investment banking and asset management business revenue, losses in the platform solutions sector, and soaring credit loss reserves, revenue and profits fell short of analyst expectations .
Morgan Stanley’s revenue in the fourth quarter fell 12.41% year-on-year to $12.7 billion, better than market expectations, and its stock and fixed-income businesses performed strongly.
Economic data
- U.S. January New York state manufacturing index reported -32.9, expected -9, previous value -11.2
Wall Street Analysis
“While U.S. service sector activity remains strong, housing is in decline amid rising mortgage rates and manufacturing activity is stalling, a broader economic downturn could be on the horizon,” said Greg Daco, chief economist at EY-Parthenon. .”
Nancy Tengler, chief executive of Laffer Tengler Investments, mentioned: “Looking at the financial reports of Goldman Sachs and Morgan Stanley, the difference between good management and poor management is huge.”
Paul Nolte, senior wealth manager and market strategist at Murphy & Sylvest Wealth Management, judged: “Earnings season will be in full swing this week, and the focus will be on employment, wages, inflation and corporate profits. It’s not going to hurt corporate profits much. The next few weeks will be a good test of that thesis.”
The numbers are all updated before the deadline, please refer to the actual quotation
