Wall Street expects US inflation data to peak and decline in August, the Ukrainian military’s counterattack reported good news, and market risk sentiment has improved. Pre-orders are hot, Apple’s rally is eye-catching, and all four major indices are in red.Dow JonesIt closed slightly up by almost 230 points,that fingerAnd the S&P was up more than 1%.
The latest survey released Monday by the Federal Reserve Bank of New York showed that consumer expectations for future inflation fell further in August, with consumer expectations for three-year inflation falling for the fourth consecutive month. .
Meanwhile, investors await the US Consumer Price Index (CPI) report for August arriving Tuesday. Wall Street expects CPI to rise 8.1% yoy in August, after rising 8.5% in July. The Core CPI, which eliminates the impact of energy, is expected to rise to 6.1% in August from 5.9% in July.
Some economists predict that if there is particularly weak CPI data, the Fed might let go and raise interest rates by just 2 yards, but some economists are confident the Fed will raise interest rates by 3 yards, because the market of US labor is still strong.
In terms of politics and economics, US President Biden is about to sign an executive order to expand the US bio-manufacturing industry and reduce its dependence on China, showing that the tech war between the US and China has spread to the biotechnology industry.
Chinese President Xi Jinping prepares for his first overseas trip since the Covid-19 pandemic, the Beijing government has announced that Xi will visit Kazakhstan and Uzbekistan from 14 to 16 September and will participate in the members of the Organization for the Cooperation of Shanghai in the Council of Heads of State of Samarkand. Russian media previously reported that Xi Jinping and Russian President Vladimir Putin will meet on the sidelines of the Shanghai Cooperation Organization summit.
The seven-month Russian-Ukrainian war could come to a turning point, with the Ukrainian army recovering 500 square kilometers of lost land in southern Ukraine in the past two weeks. The outside world is concerned that Putin will take the opportunity to meet Xi Jinping to ask for more assistance from China.
The global epidemic of novel coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases worldwide exceeded 608 million and the number of deaths exceeded 6.51 million. More than 12.6 billion doses of the vaccine have been administered in 184 countries around the world.
The performance of the four major US equity indices on Monday (12):
Focus the actions
The five kings of science and technology are just black. apple (AAPL-USA) increased by 3.85%; Half (META-US) fell by 0.11%; Alphabet (GOOGL-US) increased by 0.19%; Amazon (AMZN-USA) increased by 2.39%; Microsoft (MSFT-USA) increased by 0.83%.
Under the leadership of Apple,Dow JonesAll constituents were higher. American Express (AXP-USA) increased by 2.53%; Salesforce (CRM-USA) increased by 1.87%; Chevron (CVX-USA) increased by 1.58%; Kaiyuan Heavy Industries (CAT-US) increased by 1.54%; Amgen (AMGN-USA) fell 4.07%.
half shareThe constituent actions were mixed. Intel (INTC-USA) increased by 0.32%; Micron (MU-USA) increased by 0.87%; NVIDIA (NVDA-USA) increased by 0.82%; AMD (AMD-USA) fell 0.95%; Applied materials (AMAT-USA) fell by 0.22%; Qualcomm (QCOM-USA) increased by 0.72%; Texas Instruments (TXN-USA) fell by 0.094%.
Taiwan’s equity ADR is just weak. TSMC ADR (TSM-USA) rose by 0.76%; ASE ADR (ASX-USA) down 1.39%; UMC ADR (UMC-USA) rose by 0.31%; Chunghwa Telecom ADR (CHT US) increased by 0.69%.
Company news
apple (AAPL-USA) was up 3.85% to $ 163.43 per share, the best daily performance since May. Tianfeng International Securities analyst Ming-Chi Kuo released a new survey on Apple’s pre-orders on Monday, showing that demand for the iPhone 14 Pro Max has outpaced last year’s iPhone 13 Pro Max and believes Apple will further differentiate the its Pro and non-Pro models via iPhone 15 and iPhone 15 Pro in 2023. model, while increasing the overall average selling price of the iPhone.
The software giant Oracle (Oracle) (ORCL-US) closed up 1.54 percent at $ 77.08 per share and its shares were up 1.5 percent after hours.
Oracle announced after-hours earnings for the first quarter of fiscal year 2023 (ending August 31, 2022), with adjusted net earnings per share of $ 1.03, lower than market expectations, but revenue of $ 11. 45 billion, better than expected, mainly due to recent The acquisition of electronic health records company Cerner brought a financial contribution of $ 1.4 billion, with revenue for the quarter up 18% from the previous year.
Goldman Sachs (GS-USA) rose 0.67 percent to $ 342.58 per share. According to foreign media reports, Goldman Sachs is embarking on the biggest layoff from the new crown outbreak and will lay off hundreds of people starting this month. The US financial sector is also feeling the chill of the current economic downturn. %.
Twitter (TWTR-USA) fell 1.85 percent to $ 41.41 per share. A team of Twitter attorneys said Musk’s attempt to cancel the Twitter deal was invalid and wrong and that Twitter wasn’t violating the deal by paying the whistleblower. The market also reported that at Twitter’s shareholders’ meeting, most shareholders will agree to Musk’s acquisition of Twitter at a price of $ 54.20 per share.
Wall Street Analysis
Citi strategist Ebrahim Rahbari believes the rebound in US equities after the release of pressures and the recent broad dollar correction will continue this week as the market believes the Fed’s hawkish rate hike has peaked in the near term and market positions are relatively defensive.
Wells Fargo Bank analysts have assumed that the decline in commodity futures prices in recent months and the easing of supply chain bottlenecks indicate that inflation will cool in the coming months, but the growth rate of the Labor costs are still strong, indicating that inflation will continue falling back to the Fed. Reaching the target level is not easy.
The data is updated before the deadline, please refer to the actual quotation.
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