With the good news of the Bank of America financial report, the UK pulled back its tax cut policy, market sentiment stabilized, and tech stocks that fell deeply ushered in a rebound.Dow JonesIt has increased by over 550 points and is back to 30,000 points. The S&P was up more than 2.6%, surpassing the 200-week moving average.that fingerPowerful bombs exceed 3.4%,half shareThe index rose more than 2.2%.
After Chinese leader Xi Jinping said in the 20th National Congress report that education, technology and talent are driving China’s development into a strong country and BYD expects third-quarter earnings growth to reach 365 %, electric vehicle shares benefited and Chinese automakers benefited. The new Sanxiong “Wei Xiaoli” strength strengthened and Tesla jumped more than 7%.
The third quarter earnings season is in full swing and investors are watching whether US companies will cut their forecasts in the face of worsening inflation and an economic slowdown. Despite the extraordinary earnings reports from Bank of America and Bank of New York Mellon on Monday, BofA’s latest research report shows that only 42% of S&P companies that reported earnings reported better-than-expected sales and earnings per share. , the lowest level since the first quarter of 2020.
On the political and economic front, the new British Chancellor of the Exchequer, Jeremy Hunt, on Monday completely scrapped Prime Minister Truss’s “mini-budget” plan, which wreaked havoc on the market, and downsized a large energy subsidy program. The news came after Prime Minister Liz Truss apologized in a meeting with conservative MPs, saying her government had made mistakes in a “mini-budget”GBPOn the upside, UK government bond yields declined.
Investors continue to pay attention to Fed policy news. Gita Gopinath, the first vice president of the International Monetary Fund (IMF), said on Monday that US inflation is rather stubborn and that the Fed should insist on raising interest rates. interest and continue tightening monetary policy, otherwise it will lose credibility. The market expects the Fed to gain another 3 yards each in November and December.
The Ukrainian-Russian war has flared up again. The Russian military sent a large number of suicide drones to attack Ukraine early Sunday. At least four explosions occurred in central Kiev. The White House said on Monday that the United States will hold Russia accountable for “war crimes”.
The global epidemic of novel coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases worldwide exceeded 625 million and the number of deaths exceeded 6.56 million. More than 12.7 billion doses of the vaccine have been administered in 184 countries around the world.
Omicron’s new subtype variant BQ.1 and its underline BQ.1.1, named just a month ago, accounted for more than 10% of new confirmed cases in the United States, and White House chief infectious disease expert Anthony Fauci has warned: “These new virus variants We do not declare victory prematurely.”
The performance of the four major US equity indices on Monday (17):
- US stocksDow JonesUp by 550.99 points, or 1.86 percent, to stand at 30,185.82.
- NasdaqThe index rose 354.41 points, or 3.43 percent, to close at 10,675.8.
- S&P 500 IndexUp by 94.88 points, or 2.65%, to stand at 3,677.95.
- Semiconductor of PhiladelphiaThe index rose 49.3 points, or 2.28 percent, to close at 2,211.7.
Focus your actions
The five kings of science and technology are like rainbows. apple (AAPL-USA) increased by 2.91%; Half (META-US) rose by 5.74%; Alphabet (GOOGL-US) increased by 3.53%; Amazon (AMZN-USA) rose 6.45%; Microsoft (MSFT-USA) increased by 3.92%.
Dow JonesOnly Walgreens and Boots closed in black. JP Morgan (JPM-USA) increased by 4.2%; Salesforce (CRM-USA) increased by 3.49%; American Express (AXP-USA) increased by 3.46%; Disney (DIS-USA) increased by 3.05%; Nike (UNITED STATES) increased by 2.76%.
half shareConstituent shares have increased widely. Qualcomm (QCOM-USA) 1.49%; AMD (AMD-USA) increased by 3.61%; NVIDIA (NVDA-USA) increased by 5.89%; Applied materials (AMAT-USA) fell by 0.55%; Texas Instruments (TXN-USA) increased by 1.79%; Micron (MU-USA) increased by 1.48%.
Taiwan ADR Qi Yang shares rise. TSMC ADR (TSM-USA) rose by 1.52%; ASE ADR (ASX-USA) rose by 4.56%; UMC ADR (UMC-USA) rose by 1.89%; Chunghwa Telecom ADR (CHT US) increased by 1.52%.
Company news
Bank of America (BAC-US) was up 6.06% to $ 33.62 per share. Bank of America reported its latest earnings on Monday, with fixed income trading exceeding expectations and growth in interest income, with profits and revenues above expectations, amid market volatility and increase in interest rates.
Goldman Sachs (GS-USA) rose 2.25 percent to $ 306.71 per share. Markets are poised for major structural reforms, with plans to combine its investment banking and trading businesses in one unit, while wealth management and wealth management businesses in a second.
Tesla (TSLA-USA) shares have rebounded from a new low since last June, surging 7.01% to $ 219.35 per share. Tesla, which will report earnings on Wednesday, is expected to post $ 3.9 billion operating profit in the third quarter, up 56% from the previous quarter, and the strong results of its rival BYD in the important Chinese market are good news. for Tesla’s omen.
Roblox (RBLX-USA) was up nearly 20% to $ 42.61 per share, its best daily performance in November 2021.
American oil company ExxonMobil (XOM-USA) rose 1.44 percent to $ 100.62 per share. ExxonMobil announced that the company has completely left its Russian operations after Russia took over the company’s operations in Russia.
Meta was up 5.74% to $ 134.04 per share. Meta has targeted Apple’s iMessage in a new announcement, accusing the product of being less privacy-protected and less secure than Meta’s WhatsApp, intensifying competition between the two companies.
Credit Suisse Group (CS-USA) rose 3.76 percent to $ 4.55 per share. Credit Suisse CEO Christian Meissner is said to be leaving the company in the coming weeks and Middle Eastern sovereign wealth funds are considering further investments. Separately, Credit Suisse agreed on Monday to pay $ 495 million to settle a lawsuit involving the bank’s business in US residential mortgage-backed securities (RMBS) prior to 2008.
Economic data
- US October New York Fed Manufacturing Index reported -9.1, expected -4, previously -1.5
Wall Street Analysis
The S&P rose more than 2.6% on Monday, surpassing the 200-week moving average. “Although the S&P typically needs a full-fledged recession to break below the 200-week key moving average, if the index fails to hold that level this time around, the rebound may not materialize at all,” predicted Michael. Wilson, US shareholder strategist of Morgan Stanley, on the other hand, the index could fall to 3,400 or less and, eventually, the bear market of S&P will touch the low of about 3,000-3,200 “.
According to a recent Wall Street Journal poll, economists believe there is a 63% chance of a recession in the next 12 months. “With inflation remaining high, the Fed will raise interest rates further, increasing the risk of pushing the US economy into a recession, undermining the outlook for corporate earnings,” said Mark Haefele, UBS’s chief investment officer. Global Wealth Management.
The data is updated before the deadline, please refer to the actual quotation.
![[Crypto deve comprare un telefono cellulare? ]Fruit Fans Surprise & Discount Information FTX users in the US can enjoy fruit product discounts and can win the annual machine king – Hong Kong unwire.hk](https://cdn.unwire.hk/wp-content/uploads/2022/10/unwire_Adv_FTX_v4-01.jpg "[Crypto deve comprare un telefono cellulare? ]Fruit Fans Surprise & Discount Information FTX users in the US can enjoy fruit product discounts and can win the annual machine king – Hong Kong unwire.hk")
:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/VT626XGTWNCW5LXGEV3FAUCQ3Y.jpg "Chelsea Fontenel manages to win in the qualifying round at the expense of Destinee Martins")