The consumer price index (CPI) will be announced soon, which may affect the Fed’s future interest rate hike path. The market sentiment remains cautious, with a strong wait-and-see atmosphere. The yield on the one-year note rose to 4.03%.
Bank stocks led gains ahead of earnings season, while energy stocks followed oil prices higher.bitcoin It broke through $30,000 for the first time in 10 months, and blockchain concept stocks also benefited from the rise, but artificial intelligence (AI) concept stocks were sluggish.Dow JonesClosed up nearly 100 points, the S & P was basically flat,That fingerandfee halfBoth fell more than 0.4%.
In terms of politics and economy, the Biden administration began to study whether it is necessary to review artificial intelligence (AI) tools such as ChatGPT. At the same time, China plans to conduct a security review of generative AI services before they can be allowed to operate. The bad news dragged down Microsoft, Baidu and Alibaba Baba ADR stock price trend.
The International Monetary Fund (IMF) released the “World Economic Outlook” forecast that the global real gross domestic product (GDP) will grow by 2.8% this year, compared with 2.9% in January, and the global economy is expected to grow by 3% next year, compared with January’s forecast of 3%. 3.1%.
U.S. Treasury Secretary Yellen said on Tuesday that she remains vigilant about the downside risks facing the global economy in light of the ongoing war between Russia and Ukraine and the pressure on banks, but the overall outlook is bright. Warnings of greater risks posed by financial tensions.
Officials are divided on whether the Fed will raise interest rates, John Williams, president of the Federal Reserve Bank of New York and vice chairman of the Federal Open Market Committee (FOMC), said on Tuesday that the Fed expects to raise interest rates again this year and then maintain interest rates No change, which is a “reasonable starting point”, he now supports another rate hike in May or possibly until the summer, depending on the data.
However, Austan Goolsbee, president of the Federal Reserve Bank of Chicago and FOMC voter this year, pointed out that the US central bank needs to be cautious about further interest rate hikes in view of the pressure brought by the collapse of Silicon Valley banks on the US financial system.
Chinese Minister of Commerce Wang Wentao met with Intel President Pat Gelsinger on Tuesday. The two sides exchanged views on bilateral economic and trade relations, maintaining the security and stability of the global semiconductor industry chain, and Intel’s development in China.
The performance of the four major US stock indexes on Tuesday (11th):
Focus stocks
The five kings of science and technology are exhausted. Amazon (AMZN-US) down 2.20%; Meta (META-US) down 0.42%; Apple (AAPL-US) down 0.76%; Alphabet (GOOGL-US) down 1.02%; Microsoft (MSFT-US) down 2.27%.
Dow JonesConstituent stocks rose more and fell less. Cisco (CSCO-US) down 1.38%; Salesforce (CRM-US) down 1.36%; Intel (INTC-US) down 0.52%; Kintor Heavy Industry (CAT-US) rose 2.35%; 3M (MMM-US) rose 1.75%.
fee halfMore than half of constituent stocks fell. Micron (MU-US) rose 0.47%; Huida (NVDA-US) down 1.49%; AMD (AMD-US) down 1.52%; Applied Materials (AMAT-US) down 0.10%; Texas Instruments (TXN-US) up 0.25%; Qualcomm (QCOM-US) fell 0.58%.
The ADR of Taiwan stocks did not fluctuate much. TSMC ADR (TSM-US) up 0.25%; ASE ADR (ASX-US) flat; UMC ADR (UMC-US) flat; Chunghwa Telecom ADR (CHT US) fell 0.02%.
Corporate News
Tower Semiconductor (TSEM-US) rose 3.70% to $43.47 per share. Intel (INTC-US) fell 0.52 percent to $32.35 a share. It is unclear whether Kissinger will meet with officials from China’s State Administration for Market Regulation (SAMR), but the market is betting that the chances of China’s approval of Intel’s acquisition of Tower Semiconductor may increase.
apple (AAPL-US) slipped 0.76 percent to $160.80 a share. Apple is about to launch the iPhone 15 flagship new machine in September. It is rumored that there will be five major upgrades, including adding a new wine red color, round-edged titanium alloy shell design, USB Type-C, enhanced camera zoom capabilities, and side button adjustments.
Tesla (TSLA-US) strengthened 1.24 percent to $186.79 a share. Gary Black, co-founder of the Future Fund and a Tesla shareholder, said: “Due to the weak first-quarter deliveries of Model S and Model X, I expected the price of these two models to be lowered, but I did not expect the Model Y to be lower. This is Tesla’s best-selling model, and the price cut may cost Tesla about $700 million in lost profits per year.”
Boeing (BA-US) closed 0.73% higher at $212.32 per share. Boeing reported first-quarter deliveries of 130 planes, up 27 percent year-on-year, surpassing rival Airbus’ 127.
TSMC ADR (TSM-US) rose 0.25% to $89.24 per share. The stock god Buffett sold his shares in TSMC in just one quarter last year, which aroused the attention of the outside world. Buffett revealed to Japanese media for the first time that geopolitical tensions were one of the considerations for selling TSMC.
Economic data
- The U.S. NFIB business confidence index in March reported 90.1, expected 89.8, and the previous value of 90.9.
Wall Street Analysis
“Markets are anxiously awaiting Wednesday’s inflation data as the last key indicator ahead of the Federal Open Market Committee (FOMC) meeting in May, following a slightly stronger March non-farm payrolls report,” Stifel said in a note.
“This week’s data is important because it will be the last batch of data that will be considered for the May 3 Fed meeting, and I think the Fed will definitely review the batch,” said William Northey of Bank of America Wealth Management. data to understand where they stand in the battle against inflation.”
With the first-quarter earnings season approaching, technology stocks have suddenly improved from a dismal 2022, and some analysts continue to see upside for technology stocks.
Mislav Matejka, head of global and European equity strategy at JPMorgan Chase, firmly believes: “The forecast for technology stocks this year will outperform last year, but at the same time, we believe that recent technology stocks look overbought, near historical highs, and the RSI (relative strength index) is at . High, the question remains whether tech stocks will continue to drive the broader market higher.”
The numbers are all updated before the deadline, please refer to the actual quotation
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