With the resurgence of the domestic epidemic in China and the expanding U.S. restrictions on the supply of AI chips to China and Russia, major U.S. stock indices opened lower on Thursday (1st) under the influence of many bads. news. As US Treasury yields continued to rise, big tech stocks attracted bargain-seeking capital, with the four major indices closing mixed.
Dow JonesClosed in the red by nearly 150 points, the S&P rose 0.3%, ending a four-day losing streak. Huida plunged 7.67%, TSMC ADR fell more than 2%,half sharefell by 1.92%,that fingerIt closed 0.26% lower, extending losses for the fifth consecutive session.
On the data front, the job market remains strong and the improvement in manufacturing activity will support the Fed’s continued plans to raise interest rates. The U.S. Department of Labor announced on the 1st that the number of Americans filing for unemployment benefits for the first time last week fell for the third straight week to a two-month low.
The US ISM manufacturing index remained stable at 52.8 in August, the same value previously, indicating that the manufacturing sector grew moderately and supply constraints eased further despite a shift in spending towards services, as the interest rates and the decline in business confidence that increase the risks of recession.
Political and economic news, the market awaits the release of US non-farm payrolls data in August, which could lay the groundwork for the Federal Reserve’s interest rate hike by 3 yards in September.
First Solar, Toyota, Honda, and Corning and Micron have announced plans to expand investment and build new plants in the United States as signs of easing inflation emerge and the Chip Act is enacting legislation. “The big announcements from these companies this week about new investments and new jobs are by themselves a direct result of my business plan,” Biden said.
The latest Wall Street Journal poll showed Biden’s political satisfaction increased 3 percentage points to 45%, indicating the Democratic Party’s mid-term election prospects have improved.
In addition, the European Commission is evaluating a number of measures to address the energy crisis and soaring costs, including taxes on unexpected profits on energy companies and price caps for renewable, nuclear or coal-fired energy.
Finance ministers of the Group of Seven (G7) nations will meet on Friday (2nd) to discuss the imposition of a ceiling on the price of Russian oil to reduce Russian oil revenues and bring down global energy prices. Russian Deputy Prime Minister Alexander Novak replied Thursday that Russia will stop supplying crude oil and petroleum products to companies or countries that set price limits for Russian oil.
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 603 million and the number of deaths exceeded 6.49 million. More than 12.6 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 (1st):
Focus the actions
The five kings of technology are only Microsoft. apple (AAPL-USA) increased by 0.47%; Half (META-US) increased by 1.49%; Alphabet (GOOGL-US) increased by 1.40%; Amazon (AMZN-USA) increased by 0.83%; Microsoft (MSFT-USA) fell by 0.41%.
Dow JonesMore than half of the voters closed in the red. Johnson (JNJ-USA) increased by 2.48%; Merck (MRK-US) increased by 2.1%; Amgen (AMGN-USA) increased by 2.16%; Boeing (BA-US) fell by 4.11%; Dow Chemical (DOW-US) fell by 2.04%.
half shareThe constituent titles were essentially weak. NVIDIA (NVDA-USA) fell by 7.67%; AMD (AMD-USA) fell 2.99%; Applied materials (AMAT-USA) fell by 2.40%; Micron (MU-USA) increased by 1.38%; Qualcomm (QCOM-USA) fell by 1.78%; Intel (INTC-USA) fell by 0.50%; Texas Instruments (TXN-USA) increased by 0.58%.
Taiwan Stock ADR collectively sold out. TSMC ADR (TSM-USA) down 2.05%; ASE ADR (ASX-USA) down by 2.78%; UMC ADR (UMC-USA) fell by 1.21%; Chunghwa Telecom ADR (CHT US) fell 0.50%.
Company news
Chip designers Nvidia and AMD announced Wednesday that they were notified by the U.S. Department of Commerce to stop supplying high-end processing chips for artificial intelligence (AI) applications to China and Russia, weighed down by the news, Huida (NVDA-USA) plunged 7.67% to $ 139.37 per share on Thursday, the lowest level since April last year. Super micro (AMD-USA) closed 2.99% lower at $ 82.33 per share.
Since Huida and AMD are both TSMC’s top ten customers, contributing approximately 10% to TSMC’s performance, TSMC’s ADR (TSM-USA) Thursday fell 2.05% to $ 81.64 per share, the conversion price was 498.58 yuan, and the discount rate was 1.65%
Micron Technology Corporation (MU-USA) bucked the trend and rose Thursday, closing 1.38% higher at $ 57.31 per share. Micron said it will invest approximately $ 15 billion over the next 10 years in a new memory chip manufacturing facility in Boise, Idaho, where it is headquartered.
General Motors (GM-USA) rose 0.92 percent to $ 38.56 per share. Ultium Cells, a joint venture between General Motors and LG Energy Solutions of South Korea, has begun manufacturing at a $ 2.3 billion battery cell plant in Warren, Ohio.
Economic data
- The first jobless claims in the US reported 232,000 last week, forecasted 248,000 and previous value of 237,000
- The number of people receiving unemployment benefits in the United States reported 1.438 million last week, 1.438 million are expected and the previous value was 1.412 million
- US Non-Farm Productivity Review in Q2 Reported – 4.1%, Expected – 4.5%, Previously – 4.6%
- US non-farm unit labor cost was revised to 10.2% in Q2, forecast at 10.7% and previous value of 10.8%
- The final value of the August US global S&P manufacturing PMI was 51.5, expected to be 51.3, the previous value of 51.3
- US August ISM manufacturing index reported 52.8, expected 52, previous value of 52.8
- Construction spending in the United States in July recorded a monthly rate of 0.4%, expected -0.4%, the previous value -0.5%
Wall Street Analysis
Investment bank Jefferies commented: “The job market is still very tight and the initial data on jobless claims show no change in momentum.”
Paul Gruenwald, chief economist at S&P Global, said: “Investors are advised to focus on the job market, and if the job market starts to weaken, consumer confidence will also weaken, which will be a very strong indication. that the economy could go into a recession. tip. “
Wall Street is speculating whether stocks will challenge June lows again into September, a historically disappointing month for the market.
“If the stock market tests the lows again, I think it will happen in September and in some cases it will be worse than June 16,” said SoFi analyst Liz Young.
The data is updated before the deadline, please refer to the actual quotation.
–
