Although a number of Fed officials continued to make hawkish remarks, with the decline in U.S. bond yields, the main U.S. stock index fluctuated and rose after the opening bell on Wednesday (7th). Concept stocks surged, TSMC ADR converged most of the decline in early trading, and the four major indexes collectively closed in the red.Dow JonesXi rose more than 400 points, and the S&P rose 1.83%, holding above the 3900-point mark.half feerose more than 1.5%,that fingerIt rose more than 2%, ending a seven-session losing streak.
In terms of politics and economics, the latest “Beige Book” report of the Federal Reserve shows that since early July, economic activity has generally remained balanced, and price levels have remained high. Most jurisdictions reported stable consumer spending and auto sales remained sluggish. All jurisdictions Home sales fell and demand for mortgages softened. The outlook for future economic growth remains generally weak.
A number of Fed officials remain hawkish. Among them, Lael Brainard, the Fed’s “second-in-command” and vice chairman of monetary policy, said that inflation hurts low-income Americans the most, and the Fed must Raise interest rates to a restrictive level and hold for a period of time to convince people that inflation is falling towards the target level.
On the geopolitical front, the U.S. and Chinese heads of state are expected to meet outside the G20 summit, with Russian media reports that Chinese leader Xi Jinping and Russian President Vladimir Putin are expected to meet in Uzbekistan next week, as Xi Jinping has since the outbreak of the new crown epidemic. After the first visit abroad.
The new crown pneumonia (COVID-19) epidemic continues to spread around the world. Before the deadline, data from Johns Hopkins University in the United States pointed out that the number of confirmed cases worldwide has exceeded 606 million, and the number of deaths has exceeded 6.5 million. More than 12.6 billion vaccine doses have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Wednesday (7th):
Focus stocks
The five kings of science and technology are collectively attacking high. apple (AAPL-US) rose 0.93%; Meta (META-US) rose 1.17%; Alphabet (GOOGL-US) rose 2.47%; Amazon (AMZN-US) rose 2.67%; Microsoft (MSFT-US) rose 1.91%.
Dow JonesConstituent stocks rose broadly. Nike (OF THE US) rose 3.17%; 3M (MMM-US) rose 3.39 percent; Home Depot (HD-US) rose 2.74 percent; Walmart (WMT-US) rose 2.57 percent; Chevron (CVX-US) fell 1.28%.
half feeAll the constituent stocks recovered. Intel (INTC-US) rose 0.96%; Micron (MU-US) fell 0.42%; NVIDIA (NVDA-US) rose 1.88%; AMD (AMD-US) rose 1.13 percent; Applied Materials (AMAT-US) rose 1.83%; Qualcomm (QCOM-US) rose 1.52%; Texas Instruments (TXN-US) rose 1.67%.
Taiwan stock ADRs fluctuated with each other. TSMC ADR (TSM-US) fell 0.10%; ASE ADR (ASX-US) rose 0.73%; UMC ADR (UMC-US) rose 1.26 percent; Chunghwa Telecom ADR (CHT US) fell 0.99%.
Corporate News
Apple launched the iPhone 14 series, AirPods Pro2, Apple Watch Pro, Apple Watch 8 and the new Apple Watch SE at its fall conference. Analysts believe that despite inflation and supply chain challenges, the biggest surprise for Apple’s iPhone 14 is the lack of price increases in the dollar region. However, affected by the exchange rate, all new models in Taiwan have risen by 2,000 yuan, with a minimum price of 27,900 yuan.
apple (AAPL-US) recovered early losses on Wednesday and ended up 0.93 percent at $155.96 a share. Apple concept stocks are also common, Skyworks (SWKS-US) closed up 1.69%, Qorvo (QRVO-US) rose 1.42%.
Apple also announced a partnership with Globalstar, a U.S. satellite communications company, to provide iPhone 14 users with satellite SOS emergency contact functions. Apple will pay for 95% of the capital expenditure on building new satellites, but Globalstar still has to issue debt to secure funding for the construction and deployment of satellites. , the company will work with investment bank Goldman Sachs and expects to complete the financing in the fourth quarter of 2022.
Globalstar (GSAT-US) shares soared as much as 40% on Wednesday and closed down 1.44% at $2.06 per share.
Starbucks (SBUX-US) received a 4.48% dividend to $88.31 per share. Several investment banks have given high praise to Starbucks’ appointment of Laxman Narasimhan as the new CEO. Cowen analysts believe that Narasimhan served as the CEO of Reckitt Benckiser, a multinational fast-moving consumer goods company, and will bring good service to Starbucks with his rich experience. .
Twitter (TWTR-US) surged 6.38% to $41.20 per share. A U.S. court on Wednesday rejected a request by the world’s richest man, Elon Musk, to delay the Twitter takeover trial, but approved the addition of a Twitter whistleblower to his counterclaim.
Economic data
- US July trade balance reported – $70.7 billion, expected – $70.3 billion, previous value – $80.9 billion
Wall Street Analysis
Edward Moya, senior market analyst at Oanda, said: “As the global bond sell-off pauses, the stock market is rebounding. The economic momentum in the U.S. economy remains, and this will only improve if inflation continues to pull back. Investors seem prepared to In hold mode ahead of the September 13 CPI report.”
Goldman Sachs said in a report: “A weak economy should favor value stocks continuing to outperform growth stocks, which historically have shown to outperform at the onset of recessions.”
The figures are updated before the deadline, please refer to the actual quotation.