The U.S. main index opened on Monday (17th) and was dragged down by weak Chinese economic data. Then, led by banking stocks and technology stocks, U.S. stocks rose steadily. Tesla, Intel, Huida and AMD rose sharply, but telecom stocks fell Limiting market gains.
Dow JonesThe Sri Lankan index closed at nearly 77 points on Monday, rising for the sixth consecutive trading day.That fingerThe S&P edged up 0.93%, and the S&P edged up 0.39%, both hitting 15-month highs.fee halfStrongly rose 2.32%.
In terms of data, there is further evidence of cooling in US inflation. In July, the New York state manufacturing survey rose to 1.1 from -6.6 in June, better than market expectations of -3.5.
China’s gross domestic product (GDP) grew by 6.3% year-on-year in the second quarter, lower than market expectations, and only rose by 0.8% quarter-on-quarter. Many investment banks have lowered their forecasts for China’s GDP this year, believing that China needs to take more stimulus measures.
In political and economic news, U.S. Treasury Secretary Yellen said on Monday that although the slowdown in China’s economic growth may spread to other economies, the U.S. economy is on a good path to reduce inflation, while the job market remains strong.
The Federal Reserve will hold meetings on July 25 and July 26. Although the recent economic data is encouraging, some investors remain cautious. The Federal Reserve is expected to continue raising interest rates next week.
Goldman Sachs chief economist Jan Hatzius’s latest forecast pointed out that although the Fed will raise interest rates, this time in July may be the last action in this round of interest rate hike cycle.
The market awaits this week’s earnings report. In addition to more bank stocks such as Goldman Sachs and Bank of America, Tesla will also be the first to announce its earnings.
In terms of geopolitics, it is rumored that the top executives of US chip companies will hold a meeting with Secretary of Commerce Gina Raimondo, National Economic Council Director Lael Brainard and National Security Council Director Jake Sullivan to discuss how to deal with China. policy.
The Semiconductor Industry Association (SIA) warned on Monday that potential restrictions on the sale of advanced semiconductors to China by the Biden administration could undermine the results of the huge investment made by the Biden administration’s “Chip Act”.
Performance of the four major indexes on Monday (17th): US stocksDow Jones IndexIt gained 76.32 points, or 0.22%, to close at 34,585.35.
NasdaqThe index rose 131.24 points, or 0.93 percent, to close at 14,244.95.
S&P 500 IndexIt gained 17.37 points, or 0.39 percent, to close at 4,522.79.
Philadelphia SemiconductorThe index rose 86.90 points, or 2.32 percent, to close at 3,837.31. Five of the 11 major S&P sectors closed in the red, led by the information technology (+1.33%) sector. Financials (+0.91%) and industrials (+0.42%) also performed well. Utilities came last with a drop of 1.18% %. (Picture: finviz) Focus stocks
The five kings of science and technology saw each other’s ups and downs. Amazon (AMZN-US) down 0.83%; Meta (META-US) up 0.57%; Apple (AAPL-US) rose 1.73%; Alphabet (GOOGL-US) down 0.61%; Microsoft (MSFT-US) rose 0.14%.
Dow JonesConstituent stocks led by Intel. Intel (INTC-US) rose 3.68%; JPMorgan Chase (JPM-US) up 2.41%; Traveler (TRV-US) rose 1.59%; Verizon Communications (VZ-US) plummeted 7.5%; Disney (DIS-US) down 3.45%.
fee halfConstituent stocks generally received red, only TSMC fell. Applied Materials (AMAT-US) rose 1.93%; AMD (AMD-US) rose 2.05%; Micron (MU-US) rose 1.69%; Texas Instruments (TXN-US) rose 1.41%; Qualcomm (QCOM-US) rose 0.69%; Huida (NVDA-US) rose 2.18%.
The ADRs of Taiwan stocks were up and down. TSMC ADR (TSM-US) down 0.33%; ASE ADR (ASX-US) rose 1.47%; UMC ADR (UMC-US) up 1.79%; Chunghwa Telecom ADR (CHT US) fell 0.67%.
Corporate News
American electric car giant Tesla (TSLA-US) soared 3.20% to $290.38 per share. The gains came ahead of Tesla’s earnings report, when the company announced on July 16 that the first Cybertruck had been produced at a factory near Austin, Texas. Deutsche Bank estimates that Cybertruck shipments will reach around 2,000 this year.
Tesla completed production of its first Cybertruck, and rival Ford Motor Co. on Monday cut the price of its electric F-150 Lightning pickup truck, claiming that its efforts to increase production and reduce the cost of battery minerals have paid off. Ford (F-US) fell 5.97 percent to $14.09 a share on Monday.
microsoft (MSFT-US) closed 0.14% higher at $345.73 per share. Activision Blizzard (ATVI-US) rose 3.49% to $93.21 per share, the highest in two years.
Britain’s Competition Appeals Court (CAT) ruled on Monday that Microsoft’s appeal case was suspended for two months, giving Microsoft and Britain’s Competition and Markets Authority (CMA) more time to resolve the Activision Blizzard acquisition. A lawyer for the CMA said on the same day that Microsoft and the authorities had held “very productive” talks on potential remedies offered by the Activision Blizzard acquisition, which is expected to clear the last hurdle in the case.
Telecom stocks were chilling, with Verizon Communications (VZ-US) plummeted 7.5%. AT&T (T-US) tumbled 6.69% to $13.53 per share, the lowest closing price since 1993.
The Wall Street Journal reported last week that lead poisoning in the cable networks of AT&T, Verizon and other telecom giants is threatening public health across the United States. Analysts estimate that it could cost telecom operators $59 billion to remove all leaded cables nationwide. Citigroup downgraded AT&T stock from “buy” to “neutral.”
apple (AAPL-US) rose 1.73 percent to $193.99 a share. Morgan Stanley analysts reported on Monday that India could become an Apple (AAPL-US) will be the main driver of revenue and install growth over the next five years, mainly due to Apple’s investment in Indian manufacturing and the country’s “economic boom.”
AMD (AMD-US) climbed 2.05% to US$118.32 per share AMD CEO Lisa Su arrived in Taiwan on Monday and is expected to visit a number of Taiwanese supply chains, including Inventec, Pegatron, Guangming, Acer and Mitac.
Wall Street Analysis
Artificial intelligence (AI) promotes technology earnings optimism persists, investment bank Wedbush said: “We believe that, driven by the software and semiconductor industries, technology stocks as a whole will rise by 12%-15% in the second half of this year, while large-scale technology stocks will still rise. Be the torch bearer of tech stocks heating up.”
Baird market strategist Michael Antonelli said he will be watching earnings results closely in the coming weeks, and if any company’s stock price rises sharply on earnings beats, it would be a sign that the market’s optimism about earnings has not yet been fully priced in.
The numbers are all updated before the deadline, please refer to the actual quotation
2023-07-17 21:45:56
#U.S #stocks #hours #Waiting #batch #financial #reports #released #Nasdaq #hits #15month #high #rises #Anue #tycoonUS #stocks
