After rising for seven consecutive weeks, U.S. stocks closed in early trading on Monday (18th)Dow Jones Indexup 0.09%,S&P 500 Indexup 0.24%,NasdaqThe index rose 0.05%,half feedown 0.18%.
U.S. stocks continued to rise last week,S&P 500 IndexWrite down the longest consecutive rising weeks since 2017,Dow Jones Index、Nasdaq 100 index hit all-time highs. The S&P has risen 3.3% this month,Dow JonesandNasdaqThe indices rose 3.8% and 4.1% respectively.
As inflation cools, a dot plot released by the Federal Reserve last week showed that officials expect three interest rate cuts in 2024, helping to bring about a positive change in investor sentiment.
Although Fed Chairman Jerome Powell issued a dovish message after the meeting, two officials later stepped in to “put out the fire.” Williams, president of the New York Fed branch, said that talk of a rate cut in March next year is “premature” and “we are not really discussing a rate cut seriously.”
Next year’s FOMC voting committee member and Atlanta Fed branch president Bostic said he would be cautious about cutting interest rates too early. He said he wanted to make sure inflation was fully under control and avoid “surprises” before lowering borrowing costs.
Shipping giants MSC, Hapag-Lloyd, CMA CGM and Maersk have all announced suspensions of Red Sea routes due to drone threats, with BP joining them on Monday. As a result, they are temporarily abandoning access to key routes between Europe and Asia and between the Middle East and North Africa. Analysts said the move could have a major impact on global supply chains.
As of 22:00 Taipei time on Monday:
- Dow Jones IndexUp 33.36 points or 0.09%, temporarily reported at 37338.52 points
- NasdaqUp 7.19 points or 0.05%, temporarily reported at 14821.11 points
- The S&P 500 rose 11.23 points or 0.24%, temporarily reporting at 4730.42 points
- half feeDown 7.24 points or 0.18%, temporarily reported at 4109.77 points
- TSMC ADR rose 0.20% to $102.75 per share
- Ten-year U.S. Treasury yieldLittle change, to 3.91%
- New York light crude oil rose 2.37% to $73.12 a barrel
- Brent crude oilrose 2.53% to $78.49 per barrel
- goldrose 0.3% to $2,025.92 an ounce
- dollar indexDown 0.13% to 102.43
Focus stocks:
United States Steel (X-US) rose 26.09% to $49.59
Japan’s Nippon Steel said on Monday it would acquire US Steel (X-US), with a transaction value of US$14.9 billion (including debt). A few months ago, U.S. Steel announced it was for sale.
The offer of US$55 per share represents a premium of approximately 40% to U.S. Steel’s closing price on Friday (15th) and a 142% premium to the closing price before the company announced its strategic review process on August 11.
apple (AAPL-US) fell 1.07% to $195.46
Apple will suspend sales of Apple Watch in the United States in response to the U.S. International Trade Commission (ITC) ruling. The ruling, which relates to Masimo’s patent infringement dispute, will take effect from Christmas.
According to media reports, more government agencies and state-owned enterprises in China are requiring employees not to bring Apple iPhones and other foreign brand mobile phones to the workplace, covering at least eight provinces.
Since September, it has been reported that China has banned officials from bringing iPhones and other foreign-brand mobile phones into government agencies. However, at that time, the scope of the impact was limited to a small number of government agencies in Beijing and Tianjin. Employees were told to leave foreign-brand mobile phones at home and were not allowed to bring them into government agencies. to the workplace.
NIO (NIO-US) rose 5.3% to $8.40
NIO announced on the Hong Kong Stock Exchange after the Hong Kong stock market closed that it had entered into a share subscription agreement with CYVN Holdings through its affiliated company CYVN. CYVN Holdings is a professional investment institution headquartered in Abu Dhabi that focuses on investments in the advanced and intelligent mobility field.
According to the share subscription agreement, CYVN will invest a total of US$2.2 billion in cash to subscribe for 294 million newly issued Class A ordinary shares of the company at a purchase price of US$7.50 per share. After the investment transaction is completed in December, CYVN will beneficially hold approximately 20.1% of the total issued and outstanding shares of NIO. CYVN will also have the right to nominate two directors to NIO’s board of directors.
Key daily economic data:
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Wall Street analysis:
Max Kettner, chief multi-asset strategy at HSBC, pointed out that from a market perspective, slowing inflation, lower growth expectations and intact growth momentum are a good combination. However, with near-term U.S. growth and profit expectations remaining weak, he believes 2024 should be viewed with more caution.
The Goldman Sachs team led by David Kostin wrote in the latest report that the Fed’s dovish turn last week, coupled with falling consumer prices, will lead to lower real yields and support stock valuations. “Stock markets were already pricing in positive economic activity but now reflect a stronger outlook,” they said.
Kirsten now expectsS&P 500 IndexIt will hit 5,100 by the end of next year, joining Wall Street peers such as Bank of America and Oppenheimer Asset Management in forecasting new highs in 2024.
2023-12-18 14:41:13
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