The major U.S. stock indexes opened higher on Monday (30th). This week will usher in a super central bank week, including the U.S. Federal Reserve (Fed), the Bank of Japan (BoJ), and the Bank of England. They will successively announce their latest interest rate decisions. In addition, there are concerns about conflicts in the Middle East. This is slowed down and increases the willingness to invest in risky assets. It is worth noting that Apple will hold a new product launch event at 8 a.m. on Tuesday (31st) Taiwan time. The new Mac computers and chips have attracted much attention from the market.
before deadline,Dow Jones Industrial Averagerose nearly 300 points or nearly 0.9%,Nasdaq Composite Indexrose more than 190 points or nearly 1.5%,S&P 500 Indexrose more than 1%,Philadelphia SemiconductorThe index fell nearly 0.2%.
Geopolitically, rather than embarking on a large-scale ground invasion, Israeli forces have begun to move slowly, and so far there are few signs that the conflict will spread to the wider Middle East. That was seen as good enough news for investors to get back into the market after last week’s rout.Last week’s sharp decline resulted inS&P 500 IndexThe correction came after closing 10% below recent highs.
James Rossiter, global head of macro strategy at TD Securities, said: “The relatively restrained action over the weekend may have been a relief to markets, which were concerned about other players being drawn into the conflict. This should be good news for some risk assets. A sign.”
In addition, there are a series of events that may affect the market this week that deserve investors’ attention, including central bank meetings in Japan, the United States and the United Kingdom, and the U.S. Treasury Department announcing its single-quarter bond sales plan.
In terms of energy, the World Bank warned that even a small disruption in crude oil supply could lead to a loss of 500,000 to 2 million barrels of crude oil per day in the global market due to the escalating conflict in the Middle East.
If this happens, oil prices could rise to between $93 and $102 per barrel. The oil outlook could “dark rapidly” if the latest conflict expands, with medium-sized disruptions of 3 million to 5 million barrels per day pushing prices to $121 a barrel.
The bank predicts that the largest potential disruption could be a loss of 6 million to 8 million barrels of oil per day, a scale comparable to the 1973 Arab oil embargo. In the worst-case scenario, oil prices could reach $157 per barrel.
As of 21:00 Taipei time on Monday (30th): Focus stocks:
Witten Electronics (WDC-US) rose 9.62% to $47.72 per share in early trading
Western Digital said on Monday it would split into two companies, focusing on the hard drive and flash memory markets respectively. The company’s merger talks with Japan’s Kioxia stalled days ago. The company launched a review last year after activist investor Elliott Management, a prominent hedge fund, disclosed its nearly $1 billion stake in Witten Electronics and urged it to spin off the businesses.
apple (AAPL-US) rose 1.58% in early trading to $170.87 per share
Mark Gurman, a well-known Bloomberg Apple columnist, wrote on Monday that Apple will launch two new Macs and chips through a new product launch event this week to seize the opportunity of the recovery of the computer market. Apple will hold a “Scary Fast” new product launch event at 8 a.m. on Tuesday (31st) Taiwan time, at which time the new iMac, MacBook Pro, and M3 chips may be unveiled one after another.
Meta Platforms(META-US) rose 3.14% in early trading to $306.05 per share
Meta Platforms said in a statement on Monday that starting in November, users will be able to pay 9.99 per month online. EUR (approximately $10.574), or $12.99 per month via Apple and Android mobile operating systems EURSubscribe to ad-free Facebook and Instagram. The subscription service will be available to all users in the European Union, European Economic Area and Switzerland.
Today’s key economic data:
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Wall Street analysis:
Goldman Sachs said the market is increasingly pessimistic about the outlook for U.S. economic growth, which could provide an opportunity to buy stocks if this persists.
Goldman Sachs strategists such as David Kostin recently wrote in a report that the poor performance of cyclical stocks this month indicates that the market is worried that the recent tightening of financial conditions will hinder economic growth. Meanwhile, companies in sectors such as financial services, semiconductors and materials are likely to still perform relatively well as the company believes the U.S. economy will remain relatively resilient.
Analysts at Morgan Stanley said investors hoping for a boost in the stock market before the end of the year will be disappointed, with the likelihood of a stock market rebound in the fourth quarter having dropped significantly. Narrower breadth, leading caution, declining earnings revisions and weakening consumer and business confidence are at odds with the consensus view that stocks will rebound by year-end.
2023-10-30 13:52:12
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