The United States, known as the “anchor of global asset pricing” 10-Year Treasury Bond YieldThe rise above 4 percent, the highest level since November last year, also capped risk markets. Investors remained cautious before the release of the new batch of corporate financial reports and non-farm payroll data. The US stock index closed lower on Thursday (3rd).
Oil prices were supported as Saudi Arabia extended production cuts again, sending energy stocks higher. Qualcomm’s latest financial report was poor, its stock price plummeted more than 8%, and PayPal plummeted more than 12%. The company’s adjusted operating profit margin was 21.4% last quarter, which was worse than the previous quarter’s performance.
The Standard & Poor’s 500 index closed down 0.25%, falling for the third consecutive trading day. The cumulative decline in the first three days of August reached 1.9%.
In terms of data, before the latest non-farm payrolls report in the United States, investors digested the data that the labor market is still strong. The U.S. Department of Labor released the latest unemployment benefits data on Thursday. Expected, but lower than the previous value of 221,000.
In terms of politics and economy, after the international credit rating agency Fitch downgraded the U.S. debt rating to AA +, U.S. Treasury Secretary Yellen criticized the decision of Fitch as “completely unreasonable” and will not change the U.S. debt is still the most outstanding Facts about safe and liquid assets.
About four-fifths of companies in the benchmark constituents report earnings, and analysts expect second-quarter profits to fall 5.8 percent from a year earlier, with full-year forecasts for 2023 largely flat.
In terms of geopolitics, Mike Gallagher, chairman of the US House Select Committee on China, said on Thursday that US asset management companies BlackRock and MSCI were suspected of promoting investment in Chinese companies that were sanctioned by the US, and that they would not rule out subpoenaing them to question them. two companies.
The U.S. State Department recently invited Chinese Foreign Minister Wang Yi to visit the U.S., but U.S. Secretary of State Antony Blinken revealed that the U.S. has yet to receive a response from China to the invitation.
The performance of the four major US stock indexes on Thursday (3rd): 8 of the 11 major S&P sectors closed in the dark, led by utilities, real estate and industrial sectors. (Picture: finviz) Focus stocks
The five kings of technology were mixed. Amazon (AMZN-US) up 0.55%; Meta (META-US) down 0.36%; Apple (AAPL-US) down 0.73%; Alphabet (GOOGL-US) up 0.06%; Microsoft (MSFT-US) fell 0.26%.
Dow JonesConstituent stocks were generally weak. Salesforce (CRM-US) fell 2.24%; Kintor Heavy Industry (CAT-US) down 2.13%; 3M (MMM-US) down 1.58%; Honeywell (HON US) down 1.24%; Intel (INTC-US) rose 1.4 percent.
fee halfMore than half of constituent stocks ended lower. Qualcomm (QCOM-US) tumbled 8.18%; Applied Materials (AMAT-US) rose 0.33%; AMD (AMD-US) rose 3.48%; Micron (MU-US) rose 1.48%; Texas Instruments (TXN-US) fell 0.37%; Huida (NVDA-US) up 0.56%.
Taiwan stock ADR received more black. TSMC ADR (TSM-US) down 0.75%; ASE ADR (ASX-US) up 0.13%; UMC ADR (UMC-US) down 0.55%; Chunghwa Telecom ADR (CHT US) fell 0.05%.
Corporate News
Tesla (TSLA-US) rose 2.05% to $259.32 per share. Tesla’s car delivery in China in July only reached 64,285, an increase of 128% year-on-year, but a sharp drop of 31.4% from June, and sales hit the lowest level this year.
Qualcomm (QCOM-US) plunged 8.18% to $118.70 per share. Qualcomm’s fourth-quarter earnings guidance was unsatisfactory, while third-quarter revenue fell short of expectations due to weak demand for smartphones.
apple (AAPL-US) closed down 0.73 percent at $191.17 a share. Ming-Chi Kuo, an analyst at TF International Securities, pointed out that the second fiscal quarter is the traditional off-season, while the third fiscal quarter is the transition period between old and new iPhones. Shipment forecasts are weaker.
Multinational online payment service giant PayPal (PYPL-US) tumbled more than 12 percent to $191.17 a share. PayPal reported a slightly higher-than-expected second-quarter revenue and profit outlook on Wednesday, but quarterly profit margins fell short of expectations due to volatility in its credit business.
DoorDash (DASH-US) edged down 0.62% to $85.46 per share. DoorDash raised its annual core profit forecast and announced optimistic quarterly revenue, mainly due to the sharp increase in fresh food and catering orders.
New crown vaccine maker Moderna (Moderna) (MRNA-US) slipped 0.24 percent to $109.95 a share. Moderna reported a positive second-quarter close despite a sharp drop in revenue as demand for its COVID-19 vaccine waned in the wake of the pandemic. Moderna is still optimistic about the demand for this year’s new crown vaccine, predicting full-year sales in the range of 6 billion to 8 billion US dollars, higher than the previous estimate of 5 billion US dollars.
Economic data The number of layoffs by challenger companies in the United States in July reported 23,700, the previous value was 40,700 The annual rate of layoffs by challenger companies in the United States in July was -8.2%, and the previous value was 25.2%. Ten thousand, the previous value of 221,000 The number of people who continued to claim unemployment benefits in the United States last week reported 1.7 million, expected to be 1.7 million, and the previous value was 1.679 million. Rate revision reported 4.6%, expected 2.2%, previous value 4.7% U.S. factory orders in June reported 2.3%, expected 0.1%, previous value 0.3% U.S. July ISM non-manufacturing index reported 52.7, expected 53, previous value 53.9 Wall Street Analysis
Ed Yardeni, president of Yardeni Research, believes: “The good news is that almost everyone agrees that a recession is unlikely to be imminent, which reduces expectations for poor corporate earnings reports, but if U.S. Treasury yields continue to rise, it will increase the decline in stock market valuations. possibility.”
“The services sector remains the main engine of U.S. growth, but there are signs that engine is stalling amid mounting headwinds,” said business economist Chris Williamson.
Quincy Krosby, chief global strategist at LPL Financial, said: “Sometimes the market needs to digest surging gains, coupled with the seasonality of volatility, US stocks should pull back, and Fitch provides the reason.”
The numbers are all updated before the deadline, please refer to the actual quotation
2023-08-03 21:36:37
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