US Stock Diary | The Dow hit a record high for the eighth time, with good Meta results and a 15% increase in dividends (ANGELA WEISS via Getty Images)
Wall Street stock markets performed well across the board, with the Dow Jones Industrial Average closing at another record high for the eighth time this year. The company’s performance was satisfactory. Meta, which announced its results after the market closed, not only had better-than-expected profits, but also announced its first dividend. It soared 15% during the extended trading session. E-commerce giant Amazon’s performance also beat expectations. Although Apple’s performance was better than expected, sales in Greater China were worse than expected, and it fell nearly 4% during extended trading hours. After the market digested the interest rate meeting, it generally postponed interest rate cut expectations to the second quarter. U.S. Treasury bond interest rates fell for two consecutive days after the interest rate meeting, with the U.S. 10-year Treasury bond interest rate falling to the lowest level in a month.
Real-time quotations of U.S. stocks and foreign currencies, multi-country news
Market conditions on February 1 (Thursday)
l The Dow Jones index rose 369.54 points, or 0.97%, to 38,519.84 points.
l The S&P 500 index rose 60.54 points, or 1.25%, to 4,906.19 points.
l The Nasdaq index rose 197.63 points, or 1.30%, to 15,361.64 points.
l New York March oil futures closed at US$73.82 a barrel, down US$2.03 or 2.67%.
l New York April gold futures closed at $2,071.10 an ounce, up $3.7, or 0.2%.
l The U.S. 10-year Treasury bond yield closed at 3.863%, down 10.4 points.
The market continues to pay attention to the company’s performance. Pharmaceutical company Merck’s results were better than expected and closed up 4.6%. Qualcomm’s fourth-quarter profit and revenue were better than expected, but its guidance for this quarter was lower than expected. Citi lowered its rating from “buy” to “neutral” and the company closed down 5%.
Amazon and Facebook parent company Meta, which announced results after the market closed, both performed well, closing up more than 2% and 1% respectively. Amazon’s performance was better than expected, and it rose 6% during the extended trading session. Meta’s performance was better than expected, and it also paid its first dividend, and its stock rose 15% during the extended trading session. Apple, which also announced its results after the market closed, had slightly better-than-expected profits, but its Greater China revenue fell more than expected year-on-year, falling nearly 4% during extended trading hours.
Another regional bank in the United States plummeted. New York Community Bank plummeted due to fourth-quarter losses, bad debt provisions and dividend cuts. After falling 37% on Wednesday, it fell another 11.4% on Thursday. Other regional banks with huge losses also fell, with Western Alliance down about 8% and M&T Bank down about 5%.
Goldman Sachs analyst Scott Rubner believes that it may be difficult for the stock market to maintain its recent record-breaking highs. “The U.S. stock market is facing unprecedented serious problems, and the threshold in February is too high.” He also pointed out that he recommended increasing stock hedging this month. .
Federal Reserve Chairman Jerome Powell said at a news conference on Wednesday that he believed the Fed was unlikely to cut interest rates in March, a sign that Fed officials are in no rush to lower interest rates. Goldman Sachs, Bank of America and Barclays finally postponed their forecasts for interest rate cuts after the Federal Reserve interest rate meeting. The market focus is now turning to the second quarter.
Currently, market expectations for the Federal Reserve to cut interest rates in May have risen sharply. The rate cut is expected to reach 32 basis points, which is equivalent to 100% expected to cut interest rates by 25 basis points, and some are also expected to cut interest rates by 50 basis points.
U.S. Treasury bond rates fell further, with the 10-year Treasury note falling to a one-month low, down 10.4 points to 3.863%.
International oil prices have fallen significantly for two consecutive days. New York oil futures fell about 2.7% on Thursday and about 5% for two days starting from Wednesday. Investors paid attention to Al Jazeera’s report on the ceasefire.
In terms of economic data, the U.S. Department of Labor announced that in the week ended January 27, the number of people applying for unemployment benefits for the first time increased by 9,000, bringing the total to 224,000, which was higher than the expected 212,000. The number also rose to a two-month high. Reflecting signs of cooling in the U.S. labor market.
2024-02-01 22:37:03
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