NVIDIA 0.9%, Microsoft 0.9%, Amazon.com 0.7%,
Meta 1.7%, Google’s Alphabet 1.2%, AMD 2.5%, Netflix 0.9%,
ARM rose 3.5%, but Apple fell 0.06% and Tesla fell 1.6%.
[소셜밸류=김완묵 기자] Despite the soaring U.S. Treasury yields in the New York stock market, the Nasdaq index, which focuses on technology stocks, continues to rise for four consecutive trading days. On this day With the exception of the Dow Index, the Nasdaq Index is poised to close 9 out of the last 10 trading days with gains, while generally showing an upward trend.
As of 12:08 on the New York Stock Exchange (NYSE) on the 29th (local time), the Dow Jones Industrial Average recorded 42,330, down 57 points (0.13%) from the previous day.
The Standard & Poor’s (S&P) 500 index is at 5,833, 10 points (0.17%) higher than the previous day, and the Nasdaq Composite Index, centered on technology stocks, is at 18,664, up 97 points (0.53%) from the previous day. The Philadelphia Semiconductor Index is at 5,279, up 68 points (1.31%) from the previous point.
Major stocks include Nvidia rising 0.9%, Microsoft 0.9%, Amazon.com 0.7%, Meta 1.7%, Google’s Alphabet 1.2%, AMD 2.5%, Netflix 0.9%, and ARM rising 3.5%. However, Apple is falling 0.06% and Tesla is falling 1.6%.
U.S. Treasury bond interest rates are rising today as well. As of 11:49 a.m. local time, the 10-year note is at 4.320%, up 0.042 percentage points (4.2 bp) from the previous day, and the 2-year note is at 4.150%, up 0.010 percentage point (1.0 bp) from the previous day.
Prior to this, as of 10:33 a.m. local time, the Dow Jones Industrial Average was recording 42,398.54, up 10.97 points (0.03%) from the previous level. The Standard & Poor’s (S&P) 500 index was at 5,827.41, 3.89 points (0.07%) higher than the battlefield, and the NASDAQ composite index centered on technology stocks was at 18,612.56, up 45.38 points (0.24%) from the battlefield.
According to foreign media and Yonhap News, participants in the New York Stock Exchange on this day are paying attention to Alphabet (Google’s parent company) third quarter report card, which will be released after the market closes. Tesla, which took the lead last week, enjoyed a sharp rise in its stock price thanks to its good performance, but investors are not letting down their guard.
This week, while the earnings announcements of as many as five big tech companies, including Alphabet, Microsoft, Meta (Facebook’s parent company), Apple, and Amazon, are being announced, Alphabet opens the door.
In addition, there is interest in new indicators that will affect the extent of the Federal Reserve’s interest rate cut in November. The number of job openings for September announced by the U.S. Department of Labor on this day was approximately 7.4 million, which was lower than market expectations. The October consumer confidence index compiled by the Conference Board (CB), a private economic research institute, was 108.7, a significant improvement from the previous month (99.2) and also exceeding market expectations (99.5). This index is a leading index that predicts consumer spending.
The Standard & Poor’s (S&P) Case-Shiller housing price index in August was 325.02, up only 4.2% from the same period last year, recording the smallest increase since mortgage interest rates peaked in 2023.
McDonald’s, which announced good earnings prior to the opening of the day, is showing a stock price increase of less than 1%. McDonald’s exceeded market expectations in both sales and earnings per share (EPS), but global comparative sales decreased by 1.5%, falling below market expectations (0.6%↓). This was said to be due to weakening demand in France, the UK, the Middle East, and China.
Ford, one of America’s top three automakers, saw its stock price plunge by more than 8% in the aftermath of lowering its annual guidance. Payment service provider PayPal’s EPS exceeded market expectations, but its sales increased only 6% compared to the same period last year and fell below market expectations, causing its stock price to fall by more than 6%.Pfizer, a major pharmaceutical company, lost nearly 2% in its stock price even after delivering performance that exceeded market expectations.
“Big tech companies have already invested heavily in artificial intelligence (AI),” said Joshua Mahoney, an analyst at investment services firm Scope Markets. “As new technological changes begin to be utilized, we are wondering whether the level of investment and potential returns are being properly balanced.” He said investors will watch carefully.
“The current macroeconomic conditions are very favorable,” said Adam Crisafulli, an analyst at investment information company Vital Knowledge, citing resilient growth, easing inflation, economic stimulus measures and relatively healthy corporate performance. He added, “However, stock prices are too high, and the rapid rise in government bond yields is acting as a headwind.”
At the time the stock market opened, the 10-year maturity U.S. Treasury bond interest rate stood at 4.337%, up 5.9bp (1bp=0.01%) from the previous session. The dollar index showed 104.60, 0.27 points (0.27%) higher than the battlefield.
According to the FedWatch tool of the Chicago Derivatives Exchange Group (CME Group), the probability that the Federal Reserve will cut the benchmark interest rate by 25 basis points in November is reflected at 97.6%. The possibility of a 50bp ‘big cut’ has appeared for the first time in a long time, indicating 2.4%, and the possibility of a freeze has disappeared.
International oil prices showed a slight upward trend. The price of West Texas Intermediate (WTI) crude oil for December delivery is trading at $67.56 per barrel, up 0.27% from the previous session, and the price of Brent crude oil for December delivery is trading at $71.60 per barrel, up 0.25% from the previous session.
[저작권자ⓒ 사회가치 공유 언론-소셜밸류. 무단전재-재배포 금지]
