© Reuters.
Yingwei Financial Investing.com – The latest data on Thursday showed that the US economy returned to growth in the third quarter and exceeded expectations, easing fears of a recession.
The U.S. Department of Commerce announced a 2.6% increase, the fastest pace since the last quarter of 2021, beating market expectations for a 2.4% increase and reversing the contraction in the previous two quarters. Of these, trade contributed 2.77 percentage points to GDP growth, the largest increase since 1980, while residential investment fell sharply by 26.4% year-on-year, reflecting the impact of rising GDP. interest rates.
In addition, the Ministry of Commerce announced that the initial September value increased by 0.4%, less than the expected increase of 0.6%. During the period, orders excluding transport equipment decreased by 0.5%, a worse than expected 0.2% increase.
Meanwhile, the U.S. Department of Labor reported an increase of 3,000 to 217,000 for the week ending Oct. 22, beating an estimate of 220,000, while continuing jobless claims increased by 5.5 for the week ended. on October 15, 10,000 to 1,438 million, beating expectations of 1.39 million.
On Friday, pay attention to the Bank of Japan announcement later and the Governor’s monetary policy press conference. In addition, there will also be the release of the PCE data for September in the United States.
European and American stock exchanges
In terms of US equities, it closed up 0.61% to 32,033 points; closed down by 0.61% to 3,807 points; fell 1.63% to 10,792 points.
In terms of individual stocks, Meta Platforms Inc (NASDAQ 🙂 did not perform well and its expenses will not be reduced next year. Its stock price fell 24.56%, dropping below $ 100, and fell as much as 25.76% to a low of $ 96.38, a new low since 2016. of $ 300 billion. Other tech giants also underperformed, with Apple Inc (NASDAQ 🙂 and Amazon (NASDAQ 🙂 down 3.05% and 4.06% respectively after the market closed.
Intel (NASDAQ 🙂 also released the listing after the market closed and its share price fell 3.45%, making it the worst-performing Dow component. Mobileye, an autonomous driving technology spin-off company. , traded on its first day on Wednesday and closed nearly 38% higher than its IPO price, but closed down 5.42% on Thursday.
In addition, McDonald’s (NYSE :), the largest group of fast food chains in the world, has also released financial reports. Data showed that its third quarter revenue increased 5.1% year-on-year to $ 5.87 billion, beating market expectations of $ 5.69 billion; at the same time, earnings per share were $ 2.68, even better than the market’s $ 2.58. Boosted by the news, the company’s shares were up 4% on Thursday.
In the biopharmaceutical sector, US biochemicals manufacturer Gilead (NASDAQ 🙂 posted better-than-expected revenues and EPS and the news supported the company’s share price to rise more than 3% during extended trading hours; at the same time, Merck (Merck)) (NYSE 🙂 NYSE’s revenue and earnings per share both exceeded expectations and increased its forecast for the full year, causing its shares to rise by 3.14% at a certain point.
In terms of European stocks, they closed slightly down 0.03% to 410 points; they closed at 13211 points, up 0.12%; they closed at 6244 points, down by 0.51%; and closed at 7073 points, up 0.25%.
It should be noted that the troubled Credit Suisse Group (SIX 🙂 previously recorded a loss of CHF 4 billion in the third quarter, which was far below market forecast, and posted a profit of CHF 434 million. Swiss in the same period last year Equities plummeted by more than 18%.
Asian stock exchanges
Equities: closed at 2,982 points, down 0.55%, with sales of 381.33 billion yuan. It closed at an all-day lows and closed at 10,750 points, down 0.63%, with revenues of 542.579 billion yuan. At 2,337 points, down by 1.5%.
Hong Kong shares: rose 0.7% to 15,427 points; increased by 0.49% to 5,242 points; closed at 2,989 points, up 1.1%. The market turnover was 122.936 billion yuan.
In terms of individual stocks, Tencent Holdings (HK 🙂 grew 0.8% to close at 213.2 yuan, with revenues of 9.29 billion yuan, the most traded stock.
commodity market
As for crude oil, US economic data performed well, market fears about slowing oil demand eased, and international oil prices rose for a third consecutive day. It closed 1.33% higher at $ 96.96; closed 1.33% higher at $ 89.08 a barrel.
In the gold market, the dollar exchange rate was strong and the international price of gold was weak, closing down $ 3.6 or 0.2% at $ 1,665.6 per ounce; recovering 0.11%, closing at $ 1,663.7 per ounce.
Foreign exchange market
In the currency markets, it was slightly lower on Thursday and is now trading at 110.59.
The European Central Bank announced an interest rate hike of 0.75% after the interest rate meeting, in line with expectations, and further interest rate hikes are expected in the coming meetings. President Lagarde said after the meeting that the ECB has not completed the normalization of monetary policy. Following the announcement of the European Central Bank’s interest rate decision, it fell below par from the one-month high of 1.0093 it reached earlier and eventually closed down 1.18% at 0. 9964.
It closed 0.58% lower at 1.1560, after the pound rose for two consecutive days, aided by Sunak’s appointment as UK prime minister. But the latest data showed that economic activity in the UK contracted at the fastest pace in nearly two years in October, with negative news for the pound.
The Bank of Japan announced its interest rate meeting results on Friday and the market is expected to remain on hold, rising 0.87% at one point to 145.11 per dollar.
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(Publisher: Li Shanwen)
