On Monday (14th), the main U.S. stock index tried to get rid of the two-week blackout trend. Buyers flooded in at low prices. Huida surged more than 7%, and technology stocks turned around and rose sharply. However, Tesla cut prices and electric vehicles were generally weak. AMC’s shares plunged 35% after the preferred stock conversion plan was approved.
Under the multi-air battle,Dow JonesThrilling red, the S & P rose 0.58%,That fingerrose more than 1%,fee halfStrong rose nearly 2.9%.
As earnings season draws to a close, this week the focus turns to retail earnings, including Tuesday’s Home Depot (HD-US), Wednesday’s Target department store (TGT-US), Walmart on Thursday (WMT-US)。
The market will also focus on Tuesday’s retail sales data for July, which is expected to show an overall gain of 0.4% after a 0.2% increase in spending in the previous month.
The minutes of the Federal Reserve meeting to be released on Wednesday are also closely watched by the market. Investors are looking for more clues about the outlook for monetary policy and whether the tone of most officials is “hawk” or “dove”. Goldman Sachs predicts that the Federal Reserve may not raise interest rates at its regular meeting in September, and then announce a slowdown in inflation in November, ie there is “no need” to continue raising interest rates.
A survey released by the New York Fed on Monday showed that U.S. consumers’ median one-year inflation expectations fell to 3.5% from 3.8% in June, the fourth consecutive month of decline and the lowest since April 2021, while expectations for Inflation is expected to fall from 3% to 2.9% in both the next 3 and 5 years. The survey also found that American households were also more optimistic about their finances and the job market.
After the collapse of several regional banks such as Silicon Valley Bank at the beginning of the year, Martin Gruenberg, chairman of the US Federal Deposit Insurance Corporation (FDIC), called for new regulations and strengthened supervision of large regional banks. One of the strategies to strengthen the balance sheets of large regional banks is to create rules that would require institutions with more than $100 billion in assets to be financed with a greater ratio of long-term debt, Gruenberg said on Monday.
The performance of the four major US stock indexes on Monday (14th): US stocksDow Jones IndexIt gained 26.23 points, or 0.07%, to close at 35,307.63.
NasdaqThe index rose 143.48 points, or 1.05 percent, to close at 13,788.33.
S&P 500 IndexIt gained 25.67 points, or 0.58%, to close at 4,489.72.
Philadelphia SemiconductorThe index rose 100.90 points, or 2.87%, to close at 3,615.45. Six of the 11 major S&P sectors closed in the red, with information technology (+1.85%) leading the gains, communication services (+1.04%) and consumer discretionary (+0.39%) ranking second and third. Sectors such as utilities (-0.83%) and real estate (-0.54%) weighed on the broader market’s gains. (Picture: finviz) Focus stocks
The five kings of science and technology rise together. Amazon (AMZN-US) up 1.56%; Meta (META-US) rose 1.51%; Apple (AAPL-US) rose 0.94%; Alphabet (GOOGL-US) rose 1.37%; Microsoft (MSFT-US) up 0.94%.
Dow JonesComponent stocks were mixed. Intel (INTC-US) rose 2.26%; Salesforce (CRM-US) rose 1.61%; Merck (MRK-US) rose 1.37%; 3M (MMM-US) down 1.08%; Walgreens Boots (WBA-US) down 0.95%.
fee halfComponent stocks generally jumped. Huida (NVDA-US) soared 7.09%; Micron (MU-US) soared 6.07%; Qualcomm (QCOM-US) down 0.51%; Applied Materials (AMAT-US) up 2.20%; AMD (AMD-US) soared 4.10%; Texas Instruments (TXN-US) rose 2.58%.
ADRs of Taiwan stocks closed higher. TSMC ADR (TSM-US) rose 1.17%; ASE ADR (ASX-US) rose 1.74%; UMC ADR (UMC-US) rose 1.29%; Chunghwa Telecom ADR (CHT US) fell 1.02%.
Corporate News
Huida (NVDA-US) soared 7.09% to $437.53 per share. Morgan Stanley said on Monday that Huida’s recent decline is a good time for investors to buy on dips. Morgan Stanley set an “overweight” rating on Huida’s stock, with a target price of US$500. It is expected that Huida’s data center revenue may reach US$15 billion or more in the next few quarters.
AMC Entertainment (AMC-US) collapsed 35.55% to $3.39 per share. AMC announced that the 1:10 reverse stock split plan will be carried out on August 24, and its preferred stock “APE” will be converted into common stock on August 25.
U.S. Steel (X-US) slipped 1.19% to $239.76 per share. U.S. Steel announced a review of strategic alternatives on Monday. The company rejected a takeover proposal from peer Cleveland-Cliffs last week, but it also opened up the possibility that the U.S. steel industry may be reshaped.
Tesla (TSLA-US) closed down 1.19 percent at $239.76 a share.The price war in China’s electric vehicle market continues to rage. Tesla announced on Monday that it will lower the entry price of the long-range Model Y by 4.5% to 299,900 yuanRMBwhile the price of the Performance version starts from 349,900 yuanRMBTake off and cut the price by 3.8%.
PayPal (PYPL-US) received a dividend of 2.81% to $63.27 per share. PayPal announced that its new CEO will be Alex Chriss, who currently leads Intuit’s small business and self-employment team.
Boeing (BA-US) was up 0.42 percent at $236.71 a share. It is rumored that India’s largest airline, IndiGo, plans to deepen its international expansion and open up new destinations. Boeing has won the top spot and won orders for about 25 wide-body passenger aircraft.
Hawaiian Electric (HE-US) plummeted 33.76% to $21.46 per share. After wildfires killed at least 100 people on the Hawaiian island of Maui, Hawaiian Electric and three of its subsidiaries have been locked in legal turmoil as locals accuse the utilities of ignoring weather warnings and keeping power lines energized in dangerous conditions. Wells Fargo, citing the Maui wildfires as an imminent risk, cut its price target on Hawaiian Electric and maintained an “underweight” rating on the stock on Monday.
Wall Street Analysis
Last week’s economic data was mixed, with Interactive Brokers senior economist Jose Torres saying: “The question is, if companies are looking to maintain their margins by passing on higher and higher wholesale price pressures to consumers, then the Will consumers hesitate in the face of price increases?”
“Potentially high prices may also affect future CPI reports, which in turn will provide more evidence for Fed hawks to support more rate hikes,” Torres said. pressure from the slowdown and rising funding costs.”
The decline in U.S. stocks in 2022 was caused by the Fed’s violent interest rate hikes and fears of a near-term economic recession, but after a brutal 2022, optimism surrounding artificial intelligence (AI) helped technology stocks generally rise. Opinions are divided on whether the bull market will last.
Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, commented pessimistically that the economy has fallen into a rolling recession and will hit the service industry next.
Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management, believes that because of low liquidity, August is usually a low season, and no matter which direction the stock market moves, it should not be taken seriously.
Draho believes that the fundamental outlook for the U.S. economy has not changed significantly in the past two weeks, and investors should take any one or two economic data and weekly market movements with a grain of salt, especially during the summer economic slowdown.
The numbers are all updated before the deadline, please refer to the actual quotation
2023-08-14 21:29:22
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