Although the bond market plummeted, the main US stock index closed in red on Monday (21st). Foreign capital is optimistic about the new quarter earnings report of AI leader. Huida’s stock price soared more than 8%, leading technology stocks to rise strongly. Tesla did not give in too much, its stock price soared more than 7%, and TSMC’s ADR surged 1.6%.
The S&P closed up nearly 0.7% on Monday, saying goodbye to a 4-session losing streak.fee halfSoared more than 2.8%,That fingerStrong rebounded more than 1.5%, writing its best single-day performance since July 28, however, Johnson & Johnson and Nike led the decline,Dow Jones IndexSlightly blackened.
10-Year U.S. Treasury YieldIt broke through 4.34% on Monday, a new high since November 6, 2007, and the 30-year US bond yield reached the highest level since April 2011.
In political and economic news, investors will pay close attention to the annual meeting of global central banks held in Jackson Hole, Wyoming (Wyoming), USA this week from August 24 to 26. The theme of this year’s meeting is “The Structure of the Global Economy”. Federal Reserve Chairman Jerome Powell will deliver a speech on Friday. Economists predict that Jerome Powell will “lead the dove among eagles”. time.
At the same time, investors are waiting for the announcement of Huida’s financial report on Wednesday. It is predicted that the financial report will become the trend of artificial intelligence (AI). Many investment banks have rushed to praise and raise their target prices before the release of the financial report. It is expected to drive a new wave of gains in US stocks.
A number of retailers will also release earnings from Tuesday, with Lowe’s, Macy’s, Dick’s Sporting Goods and Urban Outfitters releasing their latest results. Investors will be looking for clues about the state of U.S. consumer spending and the health of the broader economy.
In addition, the BRICS summit was held in South Africa this week. The theme this time is “BRICS and Africa: Deepening Partnership”. The two major focuses include expanding membership and “de-dollarization”.
The performance of the four major US stock indexes on Monday (21st): US stocksDow Jones IndexIt fell 36.97 points, or 0.11%, to close at 34,463.69.
NasdaqThe index rose 206.81 points, or 1.56 percent, to close at 13,497.59.
S&P 500 IndexIt gained 30.06 points, or 0.69%, to close at 4,399.77.
Philadelphia SemiconductorThe index rose 98.01 points, or 2.83 percent, to close at 3,560.74. Five of the 11 major S&P sectors closed in the red, with information technology stocks (+2.26%) leading the gains and real estate stocks (-0.88%) losing the most. (Picture: finviz) Focus stocks
The five kings of science and technology collectively attack high. Amazon (AMZN-US) rose 1.10%; Broadcom (AVGO-US) 4.76%；Meta (META-US) rose 2.35%; Apple (AAPL-US) rose 0.77%; Alphabet (GOOGL-US) up 0.71%; Microsoft (MSFT-US) rose 1.71%.
Dow JonesMore than half of the constituent stocks closed black. Johnson (JNJ-US) down 2.98%; Nike (OF THE US) down 1.86%; Home Depot (HD-US) fell 1.01%; Salesforce (CRM-US) rose 2.05%; Intel (INTC-US) up 1.19%.
fee halfThe momentum of the constituent stocks is like a rainbow. Huida (NVDA-US) soared 8.47%; Micron (MU-US) up 0.58%; Qualcomm (QCOM-US) rose 0.53%; Applied Materials (AMAT-US) rose 4.28%; AMD (AMD-US) up 2.63%; Texas Instruments (TXN-US) up 0.88%.
Taiwan stock ADR received more red. TSMC ADR (TSM-US) 1.60%; ASE ADR (ASX-US) rose 2.19%; UMC ADR (UMC-US) up 1.18%; Chunghwa Telecom ADR (CHT US) down 0.49%.
Corporate News
Huida (NVDA-US) soared 8.47% to $469.67 per share. Huida previously expected that its revenue in the second fiscal quarter would increase by 64% compared with the same period last year. According to Refinitiv data, analysts surveyed on average estimated that Huida’s second-quarter revenue would increase by 66% year-on-year to $11.13 billion. UBS believes that Huida is indeed playing the role of “kingmaker”. HSBC raised the target price of Huida from the original $600 to $780.
US electric vehicle leader Tesla (TSLA-US) soared 7.33% to $231.28 per share, and brokerage Baird Equity Research included the stock in the list of “best ideas”. Drive the share price, but other potential catalysts for the stock include the launch of the Cybertruck, wider adoption of fully autonomous driving and expansion into new markets.
Intel (INTC-US) rose 1.19 percent to $33.14 a share.
Broadcom (AVGO-US) surged 4.76% to US$865.14 per share. VMware (VMW-US) surged 4.91% to $162.48 per share. Britain’s Competition and Markets Authority (CMA) announced on Monday that it had approved the US technology company Broadcom’s $69 billion acquisition of VMware.
American movie chain leader AMC (AMC-US) collapsed 23.72% to $3.12 per share. AMC’s 1:10 reverse stock split plan will be carried out on August 24, and its preferred stock “APE” will be converted into common stock on August 25.
Micron (MU-US) received a dividend of 0.58% to $63.96 per share. Micron said it needs federal funding and investment tax credits to develop its memory chip manufacturing plants in Boise, Idaho, and in New York state.
Wall Street Analysis
August was a volatile month for US stocks, with all three major indexes down 3% for the month.
Goldman Sachs US stock strategist David Kostin predicted: “The decline in US stocks is short-lived. If the market environment continues to improve, hedge funds, mutual funds and retail investors will increase their bullish bets.”
Adam Turnquist, chief technical strategist at LPL Financial, said: “The recent stock market pullback is a pullback from overbought levels, but it doesn’t signal the start of a bear market. The recent rate hikes have been too fast for stocks to absorb, while China’s deteriorating economic conditions and seasonal Weakening sexual trends are other factors behind the selling pressure, and as valuations adjust and overbought conditions recede, there are buying opportunities to return to the bull market in the coming months.”
Sam Stovall, chief investment strategist at CFRA Research, said: “Investors are again worried that a recession may return, and for now, the market is temporarily digesting recent gains. This situation may continue for another month. Then, when people find out that the Fed may return When interest rate hikes have been completed, the economy will not head towards recession and the financial tsunami similar to 2008, the market will usher in a rebound at the end of the year.”
The numbers are all updated before the deadline, please refer to the actual quotation
2023-08-21 21:38:14
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