US Stocks Journal｜S&P fell for 3 days in a row, Amazon’s Apple Pie performance report showed a sharp contrast in stock prices
Wall Street stocks fell repeatedly. After the three major indexes opened lower, they once turned up in the afternoon market, but there was selling pressure at the end of the session. The S&P 500 index fell for 3 days in a row. Apple and Amazon, which report earnings after the market close, were mixed after hours. The U.S. Treasury Department expanded the scale of long-term bond sales, and the interest rates on 10-year and 30-year bonds reached nine-month highs.
Oil prices have risen significantly again. Saudi Arabia said that its voluntary 1 million barrels per day cut in production will be extended until September, and that it has the opportunity to further extend it to expand the scale of production cuts.
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Market conditions on August 3 (Thursday)
l The Dow Jones Industrial Average fell 66.63 points, or 0.19%, to 35,215.89 points.
l The S&P 500 fell 11.50 points, or 0.25%, to 4,501.89.
l The Nasdaq index fell 13.73 points, or 0.10%, to 13,959.71 points.
l New York September crude oil closed at $81.55 a barrel, up $2.06 or 2.6%.
l New York October gold closed at $1939.9 an ounce, down $6.1 or 0.3%.
l The US 10-year Treasury yield closed at 4.189%, up 11.1 points.
Amazon’s revenue in the last quarter was US$134.38 billion, of which the cloud computing business AWS revenue exceeded 22 billion, which was better than expected, and the revenue of other departments was better than expected. The company surprised the market with its third-quarter revenue and operating profit guidance. Shares in the company rose as much as nearly 8 percent in early extended trading hours.
On the other hand, Apple’s revenue fell again, with US$81.8 billion in the last quarter, down 1% year-on-year. Although it was slightly higher than expected, sales of iPhones and Macs did not perform well. The company’s chief financial officer also said that this quarter’s iPad and Mac revenue may experience double-digit declines, and Apple’s stock price fell more than 2% after hours.
Tesla’s sales in China plummeted to a new low this year, but the stock rose 2%. Qualcomm and PayPal had disappointing results, falling 8% and 12%, respectively. Oil prices rebounded, and energy stocks generally performed well. Exxon Mobil and Occidental Petroleum rose by more than 1%. Bond yields rose, utility stocks and real estate funds fell significantly, NextEra fell 2%, and Equinix fell by half.
In addition to the performance, the market is also looking forward to the July non-agricultural employment data released on Friday. The market estimates that job growth has slowed to 200,000, but it is still considered a healthy number.
The US Institute for Supply Management (ISM) announced that the non-manufacturing purchasing managers index fell to 52.7 in July, lower than market expectations, still reflecting the expansion of the service industry. The index for new orders fell to 55, but remained strong, while the index for input prices paid by service businesses rose to 56.8.
The U.S. Department of Labor announced that the number of people applying for unemployment benefits rose slightly after falling to a five-month low in the week ended July 29, increasing by 6,000 to 227,000, higher than the expected 225,000, and the labor market remains strong.
2023-08-03 22:04:46
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