Market concerns over the aggressive Federal Reserve continued to persist, along with weak economic data, the major US equity index failed to get rid of the volatile downtrend on Tuesday (23).10-Year US Treasury YieldSustained above 3%, driven by rising oil prices, energy is bucking the trend and real estate and healthcare stocks have weighed on the broader market.Dow JonesIt closed down more than 150 points and the S&P fell 0.22%.that fingerslightly decreased by 0.27 points,half shareIn contrast, it closed in the red by 0.74%.
In terms of data, US new home sales recorded 511,000 units in July, down 12.6% month-on-month, the sixth decline this year and the lowest growth rate since early 2016. while S&P Global US Services Purchasing Managers Index (PMI) in August Preliminary reading fell to 44.1, with trading activity contracting for the second consecutive month to its lowest level since May 2020, reflecting weaker demand due to tighter inflation and financial conditions.
On the political and economic front, Wall Street awaits Federal Reserve Chairman Jerome Powell’s hawkish speech at the annual meeting of global central banks. Recent remarks by some Fed officials have convinced many investors that the Federal Reserve will be able to aggressive The bullish strategy will continue, recently sparking bearish sentiment in both stocks and bonds.
On the geopolitical front, the U.S. Department of Commerce added seven China-related entities, mostly linked to the aviation and aerospace sectors, to its export checklist on Tuesday, citing national security and foreign policy concerns. .
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 597 million and the number of deaths exceeded 6.45 million. More than 12.4 billion doses of the vaccine have been administered in 184 countries around the world.
The performance of the four major US equity indices on Tuesday (23):
Focus the actions
Of the five kings of technology, only Amazon stands out. apple (AAPL-USA) fell by 0.20%; Half (META-US) fell by 1.19%; Alphabet (GOOGL-US) fell by 0.33%; Amazon (AMZN-USA) increased by 0.30%; Microsoft (MSFT-USA) fell by 0.47%.
Dow JonesThe constituent actions were mixed. Baoqiao (PG-USA) fell by 1.93%; Home Depot (HD-USA) fell by 1.7%; UnitedHealth (UNH-USA) fell by 1.61%; Chevron (CVX-USA) increased by 3.24%; the development of heavy industry (CAT-US) increased by 2.84%.
half shareMore than half of the voters earned. Wolfspeed (WOLF-US) increased by 4.58%; Micron (MU-USA) fell by 0.77%; AMD (AMD-USA) fell by 0.38%; NVIDIA (NVDA-USA) increased by 0.86%; Applied Materials (AMAT-USA) increased by 1.11%; Texas Instruments (TXN-USA) increased by 0.63%; Qualcomm (QCOM-USA) fell by 0.63%.
Taiwan’s ADR shares collectively received red. TSMC ADR (TSM-USA) rose by 0.93%; ASE ADR (ASX-USA) rose by 1.02%; UMC ADR (UMC-USA) rose by 0.45%; Chunghwa Telecom ADR (CHT US) increased by 0.07%.
Company news
apple (AAPL-USA) fell 0.20 percent to $ 167.23 per share. Zhang Xiaolang, a former Apple employee and Chinese engineer accused of stealing Apple’s internal confidential documents before moving to China’s Xiaopeng Motors, pleaded guilty to the San Jose federal court on 23rd and faces up to 10 years in prison and a fine of $ 250,000.
The American semiconductor giant Intel (INTC-USA) rose 0.33 percent to $ 33.95 per share. Intel and Canadian asset management firm Brookfield announced Tuesday that they have reached a $ 30 billion financial cooperation agreement to build a state-of-the-art wafer factory in Arizona.
Zoom video conferencing software company (ZM-USA) down 16.54% to $ 81.32 per share. Zoom on Monday (22) reported the slowest revenue growth ever recorded in the last quarter and revised down its revenue and profit outlook for the full year.
The Macy’s department store chain (MUSE) received a 3.76% dividend at $ 19.31 per share. Macy’s second-quarter earnings and revenue surpassed analyst estimates, although he lowered his forecasts for the full year as he expects consumer spending on discretionary items such as apparel to deteriorate, forcing the company to cut prices to clear stocks.
Economic data
- July building permits in the US were revised at a monthly rate of -0.6%, the previous value was -1.3%
- The revised annualized total of building permits in the United States registered 1.685 million units in July, compared to the previous value of 1.674 million units
- S&P Global’s August US composite PMI starting value was 45.0, expected 49.0, previous value was 47.7
- S&P Global’s August US manufacturing PMI starting value was 51.3, expected to be 52.0, previous value was 52.2
- S&P Global’s August US Services PMI starting value was 44.1, expected to be 49.2, previously 47.3
- The monthly growth rate of new home sales in the United States for July was -12.6%, the previous value -7.1%
- Annualized total US new home sales in July were 511,000 units, predicted 575,000 units and the previous value of 585,000 units
- Richmond US Fed Manufacturing Index reported -8 in August, expected -6, previously 0
Wall Street Analysis
“Perhaps there is a growing awareness that the Fed will remain indifferent to recent data suggesting that inflation could peak and maintain its aggressive policy,” said Richard Hunter, Chief Executive Officer of Markets at Interactive Investors.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: “Investors have become more cautious, fearing that Powell will try to solidify his hawkish stance when he speaks publicly at the annual global central bank meeting on Friday, and the market bulls are disappearing as time is approaching. With US inflation still hovering around 8.5%, the Fed is unlikely to move towards an accommodative tone. “
The data is updated before the deadline, please refer to the actual quotation.
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