The latest non-agricultural employment data on Friday (5th) is far better than expected. The US bond yield once rose above 1.62% and then fell back to 1.55%. Wall Street bought technology stocks on dips, cyclical stocks rose, and Tesla fell below 600. U.S. dollarAfter the mark, the four major US stock indexes rose collectively, and the Dow Jones closed close to 600 points.
The Bureau of Statistics of the US Department of Labor released the latest non-agricultural employment report on Friday. In February, non-agricultural new employment was nearly 380,000, which doubled the market expectation. The unemployment rate fell to 6.2%.
James Bullard, president of the Federal Bank of St. Louis, said that the rise in U.S. bond yields is not a cause for concern. This reflects the improvement in the economic outlook. The bond market is not yet in disorderly transactions. He welcomes inflation. The rate exceeds 2%, and it is predicted that the unemployment rate in the United States will reach about 4.5% by the end of the year.
The global new crown pneumonia (COVID-19) epidemic continues to have a fever. According to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has soared to 115 million, and the number of deaths has exceeded 2.57 million. The United States has accumulated More than 28.83 million cases were diagnosed, and the cumulative number of deaths exceeded 520,000.
Friday (5th) the performance of the four major US stock indexes:
- The US stock Dow Jones index rose 572.16 points, or 1.85%, to close at 31,496.30 points.
- The S&P 500 index rose 72.55 points, or 1.93%, to close at 3,841.02 points.
- The Nasdaq index rose 196.68 points, or 1.55%, to close at 12,920.15 points.
- The Philadelphia Semiconductor Index rose 89.12 points, or 3.15%, to close at 2,920.75 points.
Focus stocks
Qi Yang, the five kings of science and technology. Apple (AAPL-US) Rose 1.07%; Facebook (FB-US) Rose 2.58%; Alphabet (GOOGL-US) Rose 3.10%; Amazon (AMZN-US) Rose 0.77%; Microsoft (MSFT-US) Rose 2.15%.
Dow Jones constituent stocks closed higher. Chevron (CVX-US) Rose 4.31%; salesforce (CRM-US) Rose 2.64%; Boeing (BA-US) Fell 0.66%; Microsoft (MSFT-US) Rose 2.15%; Goldman Sachs (GS-US) Fell 0.63%.
Fees’ semi-constituent stocks collectively closed higher. Applied Materials (AMAT-US) Rose 4.81%; NVIDIA (NVDA-US) Rose 0.74%; AMD (AMD-US) Rose 0.99%; Intel (INTC-US) Rose 4.13%; Qualcomm (QCOM-US) Rose 1.53%; Micron (MU-US) Rose 5.45%.
All Taiwanese ADRs received dividends. TSMC ADR (TSM-US) Rose 4.51%; ASE ADR (ASX-US) Rose 2.80%; UMC ADR (UMC-US) Rose 2.50%; Chunghwa Telecom ADR (CHT-US) Rose 1.14%.
Stock news
Tesla fell 3.78% to 597.95 per share U.S. dollar, The cumulative stock price fell 15% this year. Morgan Stanley pointed out that Tesla’s market share in the U.S. electric vehicle market has been eroded. In February, the market share fell to 69%, down from 81% in the same period last year. Snatch it.
AstraZeneca (AZN-US) Rose 1.76%. Preliminary data from a study conducted by the University of Oxford showed that the AstraZeneca vaccine is effective against the Brazilian new coronavirus variant.
Costco (COST-US) Fell 0.54%, the company’s quarterly financial report as of February 14 showed that net sales reached 43.888 billionU.S. dollar, The net profit per share reached 2.14 U.S. dollar, Lower than market expectations of 2.45 U.S. dollar. The new crown epidemic has led to a substantial increase in e-commerce revenue, an annual increase of 75%.
Economic data
- The United States reported 379,000 new non-agricultural jobs in February, which is expected to be 133,000, and the previous value was 49,000.
- The U.S. unemployment rate reported 6.2% in February, which is expected to be 6.4%, compared with the previous value of 6.3%
- The labor participation rate in the United States reported 61.4% in February, which is expected to be 61.5%, and the previous value is 61.4%
- The average hourly salary increase rate in the United States in February reported 5.3%, which is expected to be 5.1%, and the previous value is 5.1%
- The average monthly salary increase rate per hour in February in the United States reported 0.2%, which is expected to be 0.3%, and the previous value is 0.8%
- The average weekly working hours in the United States in February is reported to be 34.6 hours, which is expected to be 34.7 hours, and the previous value is 34.7 hours
Wall Street Analysis
Investment bank Wedbush predicts that technology stocks will rise by at least 25% next year. Despite the recent sell-off, large companies such as Facebook, Amazon, Apple, Netflix, and Alphabet will become growth drivers.
Quincy Krosby, chief market strategist at Prudential Financial, said that the earlier drop in yields helped support the market’s rise. As technology enters the field of correction, in most cases, the technology sell-off has reached oversold, and investors and traders should start buying on dips.
Gregory Faranello, head of US interest rates at AmeriVet Securities, said: Today’s employment report confirms that the US economy is expected to fully recover. After the release of the data, the yield on the 10-year US Treasury fell rapidly, but there was good buying at around 1.60%, which provided support for the stock and credit markets throughout the day.
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