As investors became increasingly concerned about the impact of extended restrictive monetary policies, pushing U.S. bond yields to multi-year highs, and awaiting the release of this week’s key employment report to determine future interest rate dynamics, major U.S. stock indexes fell on Tuesday (3rd). ) open low.
before deadline,Dow Jones Industrial Averagefell nearly 100 points or nearly 0.3%,Nasdaq Composite Indexfell more than 80 points or nearly 0.6%.S&P 500 Indexdown 0.4%,Philadelphia SemiconductorThe index fell nearly 0.1%.
U.S. 10-year and 30-year Treasury bond yields both hit their highest levels since 2007, driving Apple (AAPL-US), Tesla (TSLA-US)、Alphabet(GOOGL-US) and Microsoft (MSFT-US) and other large-cap stocks fell.
While some large-cap stocks have performed well in the first half of the year, driven by artificial intelligence (AI) hype, some investors believe they could lose momentum as U.S. Treasury yields continue to rise.
Wall Street strategists have warned about the impact of rising interest rates on U.S. stocks, with Goldman Sachs, Morgan Stanley and JPMorgan Chase all saying there is a risk of further declines. JPMorgan Chase strategists said they did not expect such a sharp increase in interest rates, which could slow down or even reverse the trend of U.S. stocks.
In terms of economic data, investors will pay close attention to the August JOLTS job vacancy report, which will be released later, and a series of data including the “ADP” and non-farm payrolls reports will also be released later this week. .
U.S. Federal Reserve (Fed) officials have reiterated the need to maintain restrictive interest rates for a period of time, and there are signs that interest rates may be raised again this year.
According to the CME Group’s FedWatch Tool, traders see a near 26% chance of a 1-point (25 basis point) interest rate hike in November, while the likelihood of a December rate hike is 45%.
As of 21:00 Taipei time on Tuesday (3rd): Focus stocks:
apple (AAPL-US) fell 0.40% in early trading to $173.05 per share
Apple has begun requiring new apps to obtain a Chinese government license before being listed on China’s App Store, joining measures other rivals in the country have taken over the years to comply with increasingly tightening regulations. Apple stated on its developer website that starting from last Friday, App developers will be required to submit an “Internet Content Provider (ICP) filing” when listing new apps on the App Store.
Eli Lilly and Company (LLY-US) fell 1.14% in early trading to $532.14 per share
Eli Lilly to acquire cancer treatment developer Point Biopharma Global for $1.4 billionPNT-US). The former made an offer of US$12.50 per Point Biopharma share, a premium of approximately 87% to the stock’s latest closing price, and the two companies expect the transaction to be completed by the end of 2023.
United Airlines (UAL-US) fell 0.86% in early trading to $41.26 per share
According to foreign media reports, United Airlines is close to reaching an agreement to purchase double-digit Airbus A321 narrow-body aircraft. These new orders could be announced as soon as Tuesday. United Airlines’ A321 passenger aircraft orders have accumulated to 120 aircraft. A rush to order planes has followed as travel demand is booming and airlines are under increasing pressure to reduce emissions.
Today’s key economic data: The number of JOLTs job vacancies in the United States in August was reported at 9.61 million, compared with the expected 8.8 million, and the revised previous value was 8.92 million. Wall Street analysis:
Brian O’Reilly, head of market strategy at Mediolanum International Funds, said the market may be evenly split on whether the Fed needs to continue raising interest rates, so the bond market is testing investors. He noted that in 10-Year Treasury Bond YieldAt about 4.6%, asset allocation decisions in stocks become quite difficult.
2023-10-03 13:46:50
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