U.S. Stock Diary | Meta surged to 23%, with the index rising for four consecutive weeks (Xinhua News Agency via Getty Images)
Wall Street stocks rose, with the S&P 500 and Nasdaq rising more than 1%, with the former hitting another record high. The U.S. employment data was so strong that it surprised the market, and the Dow Jones opened lower. However, the market finally treated the good news as good news and continued to rise. The Meta surged 20% and broke through the top, driving the Nasdaq to rise. The data caused the market to adjust its expectations for interest rate cuts. The US dollar strengthened, gold and oil prices fell, and the bond market also plummeted. The 10-year government bond interest rate soared 17 points. To sum up the week, the three major indexes have risen for four consecutive weeks, with increases exceeding 1%.
Real-time quotations of U.S. stocks and foreign currencies, multi-country news
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Market conditions on February 2 (Friday)
l The Dow Jones index rose 134.58 points, or 0.35%, to 38,654.42 points. To summarize the week, the Dow rose 1.6%.
l The S&P 500 index rose 52.42 points, or 1.07%, to 4,958.61 points. It rose 1.6% for the week.
l The Nasdaq index rose 267.31 points, or 1.74%, to 15,628.95 points. It rose 1.8% this week.
l New York March oil futures closed at US$72.28 a barrel, down US$1.54 or 2.1%. It fell 7.3% in one week.
l New York April gold futures closed at $2,071.10 an ounce, up $3.7, or 0.2%.
l The U.S. 10-year Treasury bond yield closed at 3.863%, down 10.4 points.
Meta, the parent company of Facebook, achieved record performance and paid an unprecedented dividend. Its share price rose by 20%, and its market value increased by US$197 billion in one day, the best performance in the history of the US stock market. Founder Zuckerberg’s fortune surged by US$28 billion. Amazon also rose nearly 8%, and its market value once exceeded Alphabet. Apple, on the other hand, eclipsed the market. The market was worried about the prospects of its business in China, and its stock price bucked the trend and was soft.
U.S. regional banks rebound New York Community Bank rebounded after plunging 45% in two days. Alibaba is rumored to be planning to sell off a number of consumer industry assets, including its grocery business Hema and retailer RT-Mart.
The U.S. Bureau of Labor Statistics announced that U.S. non-farm employment increased by 353,000 jobs in January this year, much higher than the market forecast of 180,000 jobs, and was revised upward to 333,000 jobs in December. The U.S. unemployment rate remained at 3.7% last month, the same as last month and slightly lower than market expectations of 3.8%.
At the same time, average hourly earnings increased by 0.6% month-on-month to $34.55, which was also significantly higher than the 0.3% increase expected by the market and was the largest increase since March 2022. It rose 4.5% year-on-year.
The market is worried that the hot job market will slow down the fall in inflation and the path of the Federal Reserve to cut interest rates. The interest rate futures market shows that investors believe that the chance of an interest rate cut in March has dropped to less than 20%. The mainstream opinion of the extent of interest rate cuts this year has dropped from 1.5% at the end of last year to 1%, which is closer to the 0.75% of Federal Reserve officials. expectations.
Kathy Jones, chief fixed income strategist at Charles Schwab, said: “(The data) undoubtedly justifies the Federal Reserve’s decision to keep interest rates unchanged. The economy is strong enough to create a lot of jobs, and the 4.5% increase in hourly wages shows that many Fed For officials, there may be a risk of demand-induced inflation.”
In addition, the final value of the University of Michigan’s consumer sentiment index in January rose to 79, higher than expected and the initial value; the final value of the current situation index rose to 81.9, but lower than the initial value; the final value of the outlook index rose to 77.1, higher than the initial value value.
2024-02-02 21:15:50
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