Worries about the Federal Reserve’s interest rate hike continued to disrupt market sentiment, and the three major US stock indexes closed in black on Tuesday (28th).Dow Jones Industrial Averagefell more than 230 points,Nasdaq Composite Indexfell slightly by 0.1%,S&P 500 IndexReceive black 0.3%, onlyPhiladelphia SemiconductorThe index inched up more than 0.2 percent.
Investors readjusted their interest rate expectations in February, in line with the Fed’s expectation that the end point rate will exceed 5%, while largely ruling out previous expectations of a rate cut before the end of the year after a series of hot jobs and inflation data. expectations.
Although the U.S. stock market has a long start this year, the U.S. stock index has experienced the second negative month in three months.Dow JonesThe monthly line swallowed black by 4.19%.S&P andThat finger They fell by about 2.61% and 1.11% respectively in February.
On the political and economic front, the minutes of the Fed’s January discount rate meeting showed that three regional banks “Minneapolis, St. Louis and Cleveland” voted last month to raise the bank’s discount rate by 50 basis points (2 yards) to 5%.
Chicago Fed President Austan Goolsbee said on Tuesday that the U.S. economy is at a weird and unprecedented time and the central bank should not rely too much on market reactions to guide policy.
The Biden administration said on Tuesday that it would require companies that receive funding from the government’s $52 billion semiconductor manufacturing and research program to share in excess profits and explain how to provide affordable child care programs.
The U.S. government is reviewing existing licenses to export products to China’s Huawei, while the U.S. House Financial Services Committee introduced a series of China-related sanctions bills on Tuesday, underscoring growing hawkishness in the Republican-controlled House amid U.S.-China tensions .
The global new crown pneumonia (COVID-19) epidemic continues to spread. Before the deadline, the Johns Hopkins University (Johns Hopkins University) data pointed out that the number of confirmed cases worldwide has exceeded 675 million, and the number of deaths has exceeded 6.87 million.
On Tuesday (28th), the performance of the four major US stock indexes:
Focus stocks
The five kings of science and technology have their ups and downs. apple (AAPL-US) down 0.34%; Alphabet (GOOGL-US) up 0.21%; Microsoft (MSFT-US) down 0.30%; Meta (META-US) rose 3.19%; Amazon (AMZN-US) up 0.50%.
Dow JonesMore than half of constituent stocks ended lower. Goldman Sachs (GS-US) fell 3.8%; Merck (MRK-US) down 2.85%; UnitedHealth (UNH-US) fell 1.53%; JPMorgan Chase (JPM-US) up 0.84%; Boeing (BA-US) up 0.54%.
fee halfConstituent stocks rose more and fell less. NVIDIA (NVDA-US) down 1.21%; AMD (AMD-US) down 0.24%; Applied Materials (AMAT-US) rose 3.64%; Texas Instruments (TXN-US) up 0.42%; Intel (INTC-US) up 0.12%; Qualcomm (QCOM-US) up 0.089%; Micron (MU-US) fell 0.14%.
Taiwan stock ADRs were mixed. TSMC ADR (TSM-US) down 0.26%; ASE ADR (ASX-US) rose 0.28%; UMC ADR (UMC-US) up 0.87%; Chunghwa Telecom ADR (CHT US) down 0.51%.
Corporate News
apple (AAPL-US) closed down 0.34 percent at $147.41 a share. American satellite communications company Globalstar (GSAT-US) soared 10.34% to $1.28 per share. Globalstar’s latest 8-K filing suggests that Apple has provided the company with $252 million in advance payments for satellite manufacturing costs, launch and other expenses needed for Apple’s SOS emergency service.
Tesla (TSLA-US) fell 0.92 percent to $205.71 a share. Mexican President Andres Manuel Lopez Obrador confirmed that Tesla will build a new factory in Monterrey, Mexico. More details will be announced at Tesla’s investor day (March 1), the Mexican president said.
Video software provider Zoom (ZM-US) rose 1.18 percent to $74.59 a share. Zoom reported better-than-expected earnings for the last quarter on Monday, with a net profit of $1.22 per share, beating expectations for 80 cents. Revenue was $1.12 billion and the earnings outlook for the quarter and full year was positive.
Oil and gas producer Occidental Petroleum (OXY-US) fell 0.68% to 58.56 yuan per share. Occidental Petroleum reported poor earnings in the fourth quarter of last year due to falling energy prices and rising costs. The company announced a 38% increase in its quarterly dividend to 18 cents a share and revealed a $3 billion treasury stock plan.
Snap (SNAP-US) received a dividend of 2.73% to $10.15 per share. Snap is looking to enter the field of Generative AI with a chatbot powered by OpenAI’s ChatGPT technology.
The retail department store group targets department stores (TGT-US) rose 1.01 percent to $168.50 a share. Target’s fourth-quarter adjusted earnings per share were $1.89, down from $3.19 a year earlier but ahead of analysts’ forecast of $1.40; revenue was $31.40 billion, up from $31 billion a year earlier. USD and analysts’ forecast of USD 30.73 billion.
AMC (AMC-US) fell 6.18% to $7.14 per share. The Federal District Court of Delaware said it will hold a hearing on April 27, which may delay the date of AMC’s “conversion of preferred stock unit APE into AMC common stock”.
Economic data
- The initial monthly rate of U.S. wholesale inventories in January reported -0.4%, expected 0.1%, and the previous value of 0.1%
- U.S. February Chicago PMI reported 43.6, expected 45.0, previous value 44.3
- U.S. February consumer confidence index reported 102.9, expected 108.5, previous value 106
- Richmond Fed manufacturing index reported -16, expected -6, previous value -11
Wall Street Analysis
Investment bank Jefferies pointed out: “The data continue to show that the Fed’s job is very difficult. Consumers are just beginning to rein in their spending plans, but the labor market remains strong.”
“Most investors expect 10-Year U.S. Treasury YieldWill exceed 4%, but I expect 4% is its upper limit, which will help the stock market recover in March. “
UBS analysts pointed out: “The Federal Reserve will continue to raise interest rates, economic growth may slow down, and tightening policies will bring downside risks to the stock market.”
Janney Montgomery Scott analysts judged: “Investors may have to deal with volatile markets in the coming weeks as inflation data, Federal Reserve policy and geopolitical uncertainty will continue to be short-term drivers. The trading range for the S&P appears to still be between 3850-3950 support and 4100-4200 resistance.”
The numbers are all updated before the deadline, please refer to the actual quotation
