The US unemployment report last week was better than expected and it fell for three consecutive weeks. The labor market gradually showed signs of recovery, encouraging the three major indexes to open higher on Thursday (4th). The Dow Jones Industrial Average rose nearly 100 points or 0.3%. The Daq index rose 0.5%, and the S&P 500 index rose 0.4%. Affected by the tight supply of chips, Qualcomm (QCOM-US) Earnings report revenue was not as expected, dragging fees fell 0.3% in half.
The US Department of Labor announced that it received 779,000 unemployment benefits at the beginning of last week, which was better than market expectations and fell for three consecutive weeks. The new ADP private sector employment announced yesterday was also significantly better than expected. Next, the market will focus on Friday ( 5th) January non-agricultural employment report released before the market.
In response to the progress of the rescue plan, foreign media reported that US President Biden showed goodwill to the Republican Party, saying that he was willing to increase by 1,400. USDThe threshold for the bailout check, and that the Democratic Party is willing to make concessions on several items in the bailout bill.
The 10-year U.S. Treasury yield rose to 1.146%,USDHowever, it continued to strengthen and rose to the highest level since the beginning of December, and the price of gold fell by more than 2%.Some analysts pointed out that because investors raised 1.9 trillion for BidenUSDExpectations for the bailout bill intensify, which in turn boosts U.S. bond yieldsUSD, And caused the commodity market to fall across the board.
U.S. Treasury Secretary Janet Yellen will hold a meeting with the four major market regulators of the U.S. Securities and Exchange Commission (SEC), the Federal Reserve (Fed), the Federal Reserve Bank of New York and the U.S. Commodity Futures Trading Commission (CFTC) later on Thursday. The meeting discussed the recent speculative boom detonated by retail investors, and then decided whether to take relevant actions.
Following the high volatility this week, GameStop (GME-US)、AMC(AMC-US) Both fell more than 5% in early trading.
As of 22 o’clock on Thursday (4th) Taipei time:
- The Dow Jones Index rose 89.56 points, or 0.29%, to 30,813.16 points temporarily
- Nasdaq rose 73.54 points, or 0.54%, to 13684.08 points temporarily
- The S&P 500 Index rose 13.98 points, or 0.36%, to 3,844.15 points temporarily
- Fees and a half fell 8.40 points, or -0.28%, to 2974.48 points temporarily
- TSMC’s ADR fell 0.14% to 127.32 per share USD
- The 10-year U.S. Treasury yield rose to 1.146%
- New York light crude oil rose 0.54% to 55.99 per barrel USD
- Brent crude oil rose 0.41% to 58.70 per barrel USD
- Gold fell 2.23% to 1,794.10 per ounce USD
- USDThe index rose 0.27% to 91.39 points
Focus stocks:
Apple (AAPL-US) Rose 1.40% in early trading to 135.82 USD。
CNBC quoted people familiar with the matter as reporting that Apple and Hyundai-Kia (KIA) are about to finalize a fully autonomous car production agreement, which will be manufactured by Kia’s West Point plant in Georgia. It is currently tentatively scheduled to start production in 2024, but there is still a possibility of delay.
Qualcomm (QCOM-US) Fell 8.16% in early trading to 149.06 USD。
F2021 Q1 financial report key data:
- Revenue: 8.23 billionUSD, An annual increase of 62%, slightly lower than the 8.27 billion expected by Refinitiv survey analystsUSD
- EPS (non-GAAP) after dilution: 2.17 per share USD, An annual increase of 119%, better than the 2.1 expected by Refinitiv survey analysts USD
- Net profit before tax (EBT): 2.6 billionUSD, An annual increase of 175%
- Net profit: 1.455 billionUSD, An annual increase of 165%
F2021 Q2 financial forecast:
- Revenue: 7.2 billion to 8 billionUSDRange, better than the 7.15 billion average analyst forecastUSD
- Earnings per share excluding some items: between 1.55 and 1.75 per share USDRange, better than Wall Street’s 1.69 expectations USD
- Chip and software business (QCT): 6 billion to 6.5 billionUSDInterval
- Patent Licensing Service (QTL): 1.25 billion to 1.45 billionUSDInterval
eBay(EBAY-US) Rose 11.53% in early trading to 64.73 USD。
eBay announced after the market on Wednesday that its revenue for the fourth quarter of last year increased 28% annually to 2.87 billionUSD, EPS was 86 cents after adjustment, both higher than market expectations.The company expects revenue in the first quarter of this year will continue to be strong, ranging from 2.94 billion to 2.99 billionUSD, EPS will be between 1.03 and 1.08 USD, Both are better than market expectations.
Daily key economic data:
- The United States last week (1/30) reported 779,000 unemployment benefits for the first time, expected to be 830,000, and the previous value was lowered from 847,000 to 812,000
- The United States last week (1/23) reported 4,592 thousand renewed unemployment benefits, which is expected to be 4.7 million. The previous value was raised from 4.771 million to 4.785 million
- At 23:00, Taipei time, the final monthly growth rate of durable goods orders in the United States in December will be announced, which is expected to be 0.95% and 0.20% before
- At 23:00 Taipei time, the monthly growth rate of US factory orders in December will be announced, which is expected to be 0.8%, and the previous value is 1.0%
Wall Street analysis:
As the investment boom set off by the Reddit forum slowed down, investors continued to pay attention to signs of economic recovery. Grace Peters, an investment strategist at JPMorgan Private Bank, said that the action now stems from cautious optimism that the market is returning to fundamentals. Although stock market volatility continues, the market will eventually rise step by step.
In response to Biden’s goodwill to the Republican Party and his willingness to adjust the threshold for bailout checks, Peters believes that it is a good thing to be flexible, which will help increase the possibility of passing a new round of stimulus.
Peters said that the market expects the scale of the bailout to reach 1 trillionUSDLeft and right, in addition to being expected to benefit the stock market, it is also one of the tailwinds that support the continued growth of the US economy.
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