Federal Reserve Chairman Powell continued to make aggressive comments on Thursday (8th), but as health care and financials led the rally, US stocks continued to rebound from the previous day and all four major indices closed. in red.Dow JonesUp by nearly 200 points, the S&P rose 0.66%, surpassing the 4,000 point mark.
On the data front, the U.S. Bureau of Labor announced that since September 3, the number of Americans who filed for unemployment benefits for the first time last week fell by 6,000 from the previous week to 222,000, a sign that the job market is even stronger than the Fed expected strong.
In the political and economic news, the hawks of global central banks are deafening and Powell reiterated in his last speech before the September meeting on Thursday that the Fed has promised to fight inflation and will not back down until it is. achieved its mission to prevent it from happening again. of Qualcomm in the 1970s. The mistakes of paying a “high social cost” during the period of inflation. CME’s FedWatch data showed that the market is discounting more than an 86% chance that the Fed will raise interest rates by three yards in September.
The European Central Bank (ECB) raised several interest rates by 3 yards each during Thursday’s decision-making meeting, raising the benchmark deposit rate from 0 to 0.75%, the highest since 2011.
US President Joe Biden “delayed” the removal of Trump-era tariffs on Chinese goods, citing sources, foreign media reported, as any decision before the US mid-term election in November would pose a risk to Biden. and the Democrats. Biden is also reluctant to raise the leverage provided by tariffs ahead of the G20 (G20) Heads of State Summit.
platinumThe Han Palace announced Thursday that Queen Elizabeth II has passed away at the age of 96. To commemorate her death, the UK will hold a 10 day national mourning period and a funeral will be held on the 10th day after the Queen’s death. The London Stock Exchange will therefore be closed.
The new coronal pneumonia epidemic (COVID-19) continues to spread around the world. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases worldwide has exceeded 607 million and the number of deaths has exceeded 6.5 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 (8th):
Focus the actions
The five heavenly kings of science and technology float with each other. apple (AAPL-USA) fell by 0.96%; Half (META-US) increased by 1.04%; Alphabet (GOOGL-US) fell by 0.98%; Amazon (AMZN-USA) increased by 0.26%; Microsoft (MSFT-USA) increased by 0.17%.
Dow JonesMore than half of the voters closed in the red. sales force (CRM-USA) increased by 2.36%; JPMorgan (JPM-USA) increased by 2.33%; Goldman Sachs (GS-USA) increased by 1.46%; Kaiyuan Heavy Industry (CAT-US) increased by 1.27%; 3M (MMM-USA) fell 1.06%.
half shareConstituent stocks generally closed higher. AMD (AMD-USA) increased by 3.98%; Intel (INTC-USA) increased by 0.33%; Micron (MU-USA) increased by 0.71%; NVIDIA (NVDA-USA) increased by 2.01%; Applied materials (AMAT-USA) increased by 2.01%; Qualcomm (QCOM-USA) increased by 0.19%; Texas Instruments (TXN-USA) increased by 1.56%.
The ADR for Taiwan shares was mixed. TSMC ADR (TSM-USA) rose by 0.36%; ASE ADR (ASX-USA) rose by 2.35%; UMC ADR (UMC-USA) fell by 0.47%; Chunghwa Telecom ADR (CHT US) fell by 0.05%.
Company news
apple (AAPL-USA) fell 0.96 percent to $ 154.46 per share. Musk, the richest man in the world, revealed that his space exploration company SpaceX has held talks with Apple, involving the Starlink broadband satellite service to provide emergency communication functions for Apple’s new flagship iPhone 14. .
Tesla (TSLA-USA) received a 1.96% dividend at $ 289.26 per share. The joint Chinese passenger car market information conference released that China’s retail sales of new-energy passenger cars in August reached 529,000, of which Tesla’s Chinese-made car sales reached 76,965. After the Shanghai outbreak prevention blockade caused production to slow down, Tesla vehicle deliveries have reaped strong.
Modenese (MRNA-USA) rose 4.73 percent to $ 141.28 per share. Deutsche Bank has updated the shares of the pharmaceutical giant to “buy” to “hold”. Moderna estimated Thursday that future annual sales of the new corona vaccine in the United States could be between $ 5.2 billion and $ 12.9 billion.
Advanced Micro Devices (AMD) was up 3.98% to $ 82.78 per share. Investment bank Stifel raised AMD’s target price to $ 122 per share, which would be more than 40% above the current price.
BYD ADR (BYDDY-US) slid 2.85% to $ 55.81 per share. BYD announced on the 8th that it will build an electric vehicle manufacturing plant in Thailand, signed a land purchase contract for 96 tons and will produce 150,000 electric vehicles per year starting in 2024.
US telecommunications company T-Mobile (TMUS-USA) closed down 0.093% to $ 145.36 per share, after rising more than 2.8% in after-hour trading. After T-Mobile sold its cable business to Cogent, the company announced Thursday a $ 14 billion treasury stock plan that runs through September.
Economic data
- The number of Americans who received unemployment benefits last week reported 222,000, expected 240,000, the previous value of 228,000
- The number of people who received unemployment benefits in the United States last week reported 1.473 million, forecasted 1.435 million and the previous value of 1.437 million
Wall Street Analysis
Cathie Wood, founder of Ark Investment Management, who is known as the “woman of the stock market,” has criticized Powell’s imitating former Federal Reserve Chairman Paul Volcker in wielding a sledgehammer to fight inflation, but yes it is making a big mistake as commodity markets have gone from positive to deflationary.
Bank of America economist Michael Gapen said: “If the Consumer Price Index (CPI) data drops unexpectedly on Sept. 13, it could increase the likelihood of a small interest rate hike, but it’s even more likely. for the Fed to raise interest rates by 3 yards. “
The data is updated before the deadline, please refer to the actual quotation.
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