U.S. stocks ushered in a tight earnings week, and investors expected that the Federal Reserve will soon slow down the pace of interest rate hikes. Tesla and Apple led the gains, and technology stocks made great strides. ) closed together.
Dow Jones IndexIt rose more than 250 points and closed in red for two consecutive trading days. The S&P 500 index rose by more than 1%, returning to the 4,000-point mark, a new closing high since December 2 last year.
NasdaqThe index rose more than 2%, also hitting a new closing high in 7 weeks. Barclays Bank upgraded the ratings of stocks such as AMD and Qualcomm.Philadelphia SemiconductorThe index soared more than 5%, hitting a new closing high in five months.
Since early 2023,That fingerandfee halfOutperforming other major U.S. indexes, which is very different from the trend in 2022, investors are waiting for the latest financial reports of large technology stocks such as Microsoft and Intel this week.
In terms of politics and economy, the Federal Reserve has entered a quiet period before the decision-making meeting from January 31 to February 1. Wall Street Journal reporter Nick Timiraos, who is known as the “feedback microphone”, recently pointed out that the Fed will try to slow down the pace of interest rate hikes , and discuss the conditions for a pause in rate hikes this year. U.S. Treasury Secretary Janet Yellen said on Monday she believed inflation was falling overall and the U.S. labor market remained very tight.
German Chancellor Scholz and French President Emmanuel Macron met on Monday. The two promised that Germany and France will support Ukraine if necessary. Scholz also mentioned that the supply of German-made Leopard tanks to Ukraine is not ruled out. The Russian side threatened that if the West sends tanks to support Ukraine, the victims will be the Ukrainian people.
U.S. Special Envoy for Iran Robert Malley said on Monday that the U.S. will increase pressure on China to stop importing Iranian oil.
The global new crown pneumonia (COVID-19) epidemic continues to spread. Before the deadline, the Johns Hopkins University (Johns Hopkins University) data pointed out that the number of confirmed cases worldwide has exceeded 668 million, and the number of deaths has exceeded 6.73 million. More than 12.7 billion doses of vaccines have been administered in 184 countries around the world.
The performance of the four major US stock indexes on Monday (23rd):
- US stocksDow Jones IndexIt gained 254.07 points, or 0.76%, to close at 33,629.56.
- NasdaqThe index rose 223.98 points, or 2.01 percent, to close at 11,364.41.
- S&P 500 IndexThey rose 47.2 points, or 1.19 percent, to close at 4,019.81.
- Philadelphia SemiconductorThe index rose 140.14 points, or 5.01 percent, to close at 2,934.83 points.
Focus stocks
The five kings of science and technology climbed across the board. apple (AAPL-US) rose 2.35%; Alphabet (GOOGL-US) rose 1.81%; Microsoft (MSFT-US) up 0.98%; Meta (META-US) up 2.80%; Amazon (AMZN-US) rose 0.28%.
Dow JonesConstituent stocks rose more and fell less. Salesforce (CRM-US) up 3.05%; Walgreens Boots (WBA-US) rose 2.2 percent; Goldman Sachs (GS-US) rose 2.14%; Disney (DIS-US) rose 2.14%; P&G (PG-US) fell 1.34%.
fee halfComponent stocks went hand in hand. AMD (AMD-US) soared 9.22%; NVIDIA (NVDA-US) surged 7.59%; Applied Materials (AMAT-US) rose 4.11%; Texas Instruments (TXN-US) up 2.99%; Intel (INTC-US) rose 3.59%; Qualcomm (QCOM-US) surged 6.62%; Micron (MU-US) surged 5.75%.
Taiwan stock ADR rose sounded. TSMC ADR (TSM-US) surged 5.09%; ASE ADR (ASX-US) 2.76%; UMC ADR (UMC-US) rose 3.91%; Chunghwa Telecom ADR (CHT US) rose 0.60%.
Corporate News
Tesla CEO Musk was sued by investors for Tesla’s “privatization” tweet in 2018. When Musk appeared in court, he pointed out that the Saudi Arabian sovereign wealth fund had clearly hoped that Tesla would be privatized, and he A stake in SpaceX would provide sufficient funding, and he was sure that funding for Tesla’s privatization was indeed secure, and Tesla (TSLA-US) soared 7.74% to $143.75 per share.
apple (AAPL-US) rose 2.35 percent to $141.11 a share. India’s Minister of Commerce and Industry Goya said that Apple hopes to increase the proportion of Apple products made in India from the current 5% to 7% to a maximum of 25%, reflecting Apple’s continued shift of production operations out of China. Analysts at JPMorgan have said that Apple could produce 25% of the world’s iPhones in India by 2025.
microsoft (MSFT-US) rose 0.98% to $242.58 per share. Microsoft said it would expand its partnership with OpenAI, an artificial intelligence research lab, to provide the company with a $10 billion investment in the future. OpenAI has recently been discussed with its AI chatbot ChatGPT.
Indian automaker Tata Motors (TTM-US) received a dividend of 1.05% to $25.14 per share. Tata Motors has confirmed that it will voluntarily delist from the New York Stock Exchange, effective after the close on January 23, 2023.
Well-known online music streaming platform Spotify (SPOT-US) rose 2.07 percent to $99.94 a share. Joining the wave of technology layoffs, Spotify announced layoffs of 6%, or about 600 employees, and assumed related costs of up to nearly US$50 million to prepare for a possible economic recession.
Abbott (ABT-US) rose 1.05 percent to $114.01 a share. The U.S. Justice Department is investigating an Abbott Pharmaceuticals factory in Michigan that produced infant formula suspected to have been contaminated with Cronobacter sakazakii last year, killing several babies.
Wall Street Analysis
Deutsche Bank strategist Henry Allen said: “As investors become more confident about inflation, they expect the Fed to eventually pause interest rate hikes, and may even cut interest rates. Inflation is more persistent, and U.S. stocks may resemble the bear market rally that occurred last summer.”
“Investors should be cautious about lowering expectations for a premature rate cut, as the Fed will likely need to keep monetary policy restrictive throughout the year to keep inflation in check,” said Jason Pride, chief investment officer at Glenmede Private Wealth.
