At the close of local time on April 3, the three major U.S. stock indexes closed with mixed gains and losses, with the Dow Jones Industrial Average falling 0.11%, the Nasdaq Composite Index rising 0.23%, and the S&P 500 Index rising 0.11%.
Popular technology stocks had mixed gains and losses. Dell Technologies rose more than 8% to hit a record closing high, Meta rose nearly 2%, Tesla rose more than 1%, Apple, Google, and Amazon rose less than 1%, and Intel fell more than 8%.
Precious metals and metal raw materials were the top gainers, with gold resources rising by more than 26%, Cordalen Mining rising by more than 10%, Pan American Silver rising by more than 6%, Alcoa rising by more than 4%, and Southern Copper rising by more than 3%. The commercial retail, food, and brand apparel sectors were among the top decliners, with Disney falling more than 3%, Kohl’s and Nordstrom falling more than 2%, and Burlington Department Store falling more than 4%.
Spot gold rose above US$2,300 per ounce for the first time, continuing to hit a record high. It has risen by more than US$200 so far this year.
COMEX June gold futures closed up 1.45% at $2,315.00 per ounce, continuing to hit a record closing high; COMEX May silver futures closed up 4.39% at $27.060 per ounce.
Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 0.13%. Li Auto and Xpeng Motors fell by more than 2%, JD.com, Bilibili, and iQiyi fell by more than 1%, and Weilai, Alibaba, Vipshop, Baidu, Manbang, and NetEase fell slightly. Futu Holdings, Tencent Music, and Pinduoduo rose more than 1%, while Weibo rose slightly.
After its ten-year dream of building a car was shattered, Apple is looking for new sources of revenue. According to people familiar with the matter,Teams at Apple are working on advancing personal robotics, an area that could become one of the company’s ever-changing “next big projects.” Apple engineers are developing a mobile robot that can follow users around their homes.Apple has also developed an advanced desktop home device that uses robots to move the display around. While research and development is still in its infancy and it’s unclear whether the products will eventually be released, pressure is growing on Apple to find new revenue streams.
Apple abandoned its electric car project in February, and mixed reality headsets are expected to take years to become profitable. With robotics, Apple can gain a bigger foothold in consumer home devices and capitalize on advances in artificial intelligence. But it’s unclear what approach will be taken. People familiar with the matter said that although robot smart displays are developing faster than mobile robots, they have been on and off Apple’s product roadmap for years.
As of the close on April 3, local time, Apple was trading at $169.65, an increase of 0.48%, with a market value of $2.6 trillion.
On Wednesday, data released by ISM showed that the ISM services PMI growth in the United States slowed down for the second consecutive month in March and was worse than expected. The closely watched service price payment sub-index fell to the lowest in four years. In addition, supplier transactions Volume and new orders also fell.
The ISM services index in the United States in March was 51.4, expected to be 52.8, and the previous value in February was 52.6. 50 is the watershed between prosperity and contraction. The U.S. ISM services PMI has remained above the 50 mark for more than a year, but the March value was lower than the expectations of most economists surveyed by the media.
According to CCTV News, on April 3, local time, Federal Reserve Chairman Powell gave a speech:Stressing that the Fed needs more evidence of a steady decline in inflation before cutting interest rates.
On the issue of inflation, Powell said it was too early to determine whether the recent data was just a temporary blip, so until the Fed becomes more confident that inflation is falling steadily toward its 2% target, it’s not clear whether the latest data is just a temporary blip.Not planning to cut interest rates. Powell said the Fed was trying to balance the risk of cutting interest rates too soon, which could reignite inflation, and waiting too long to do so, which could put pressure on the economy and potentially trigger a recession.
On January 31, local time, Federal Reserve Chairman Powell gave a speech on the federal funds rate decision announced that day, saying that the Federal Reserve needs to see more evidence to prove that inflation is continuing to decline before deciding to cut interest rates.
Powell said the federal funds rate is likely at the peak of this tightening cycle. He said that the level of inflation in the United States has eased, but the economy has not slowed down, the unemployment rate has not increased significantly, and the current process should continue.
Powell said the Federal Open Market Committee, which sets monetary policy, will carefully evaluate future data, the changing outlook and the balance of risks when considering any changes to the target range for the federal funds rate. “It would not be appropriate” to lower interest rates until there is greater confidence that inflation is sustainably moving towards the 2% target.
The U.S. Federal Reserve concluded its two-day monetary policy meeting on January 31 and announced that it would keep the target range for the federal funds rate unchanged at 5.25% to 5.5% and hinted that it would not cut interest rates for the time being. This is the fourth consecutive time the Fed has kept rates unchanged at this range.
(Source of article: Daily Economic News)
Article source: Daily Economic News
Original title: Spot gold breaks through $2,300 for the first time! Powell once again hinted that he will not cut interest rates!Apple’s next big thing is brewing: exploring home robots
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2024-04-03 23:30:08
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