2023-04-19 21:13:59
Wall Street digested another batch of corporate financial reports and waited for the financial reports of heavy technology stocks such as Tesla, IBM, and TSMC. The main US stock index closed slightly lower on Wednesday (19th), onlyNasdaqThe index barely closed in the red.Dow JonesClosed down nearly 80%, the S & P fell 0.01%,fee halfIt was down more than 1%.
U.S. bond yields continued to rise, and growth stocks were under pressure. Netflix’s earnings miss weighed on the communication services sector. Western Alliance shares soared as it delivered better-than-expected profits and deposit outflows stabilized, driving regional banks higher. Morgan Stanley closed more than 0.6 percent higher despite a 19 percent annual decline in first-quarter profit.
Overshadowed by another price cut, Tesla weakened by more than 2% ahead of the earnings report. Although ASML’s financial report was better than expected and refuted rumors of cutting orders, ASML fell by more than 3%. On the eve of the legal briefing, TSMC’s ADR was weak and closed more than 1%.
In terms of politics and economy, the Federal Reserve released the latest “Beige Book” report on Wednesday. As of April 10, the 12 regional survey data under the Federal Reserve showed that the US economic activities have not changed much in recent weeks, employment growth and prices The rise appears to have slowed and credit has tightened. It was the first economic Beige Book report since the collapse of a Silicon Valley bank in early March sparked financial turmoil.
The Biden administration is facing a countdown. If the debt ceiling is not raised, it may lead to the first debt default in the United States and trigger a global financial crisis. US House of Representatives Speaker McCarthy (Kevin McCarthy) unveiled a comprehensive package on Wednesday, proposing to raise the debt ceiling by $1.5 trillion or extend it until March 31 next year, while limiting federal spending.
The performance of the four major US stock indexes on Wednesday (19th):
Focus stocks
The five kings of science and technology have their ups and downs. Amazon (AMZN-US) up 1.96%; Meta (META-US) down 1.01%; Apple (AAPL-US) rose 0.70%; Alphabet (GOOGL-US) down 0.31%; Microsoft (MSFT-US) up 0.028%.
Dow JonesComponent stocks were mixed. Cisco (CSCO-US) down 4.51%; UnitedHealth (UNH-US) fell 3.62%; Disney (DIS-US) down 2.16%; Intel (INTC-US) down 2.14%; Traveler (TRV-US) soared 6.15%.
fee halfMore than half of constituent stocks were weak. Micron (MU-US) fell 2.07%; Huida (NVDA-US) rose 0.95%; AMD (AMD-US) up 0.18%; Applied Materials (AMAT-US) down 0.84%; Texas Instruments (TXN-US) down 1.80%; Qualcomm (QCOM-US) up 0.15%.
The ADRs of Taiwan stocks were wiped out. TSMC ADR (TSM-US) down 1.03%; ASE ADR (ASX-US) fell 3.14%; UMC ADR (UMC-US) down 2.35%; Chunghwa Telecom ADR (CHT US) fell 0.39%.
Corporate News
Morgan Stanley (MS-US) rose 0.67 percent to $90.45 a share. Morgan Stanley’s first-quarter profit released on Wednesday was US$2.98 billion, down 19% year-on-year, and revenue fell 2% to US$14.52 billion, better than analysts expected.
Streaming video platform Netflix (NFLX-US) tumbled 3.17% to $323.12 per share. Netflix’s latest financial report was mixed. Revenue increased by 3.7% to 8.16 billion US dollars, which was better than Wall Street’s expectations. However, due to the challenge of subscriber growth, the second quarter financial forecast was not satisfactory.
Chipmaker GlobalFoundries (GFS-US) to IBM (IBM-US) filed a lawsuit accusing it of unlawfully sharing confidential intellectual property rights and trade secrets. The former closed up 1.75% to $63.98 per share. IBM (IBM-US) fell 1.14 percent to $126.32 a share.
apple (AAPL-US) was up 0.70 percent at $167.63 a share. Apple CEO Cook met with Indian Prime Minister Narendra Modi and reiterated Apple’s investment commitment in the region.
Before the earnings announcement, Tesla (TSLA-US) closed down 2.02% to $180.59 per share on Wednesday. Tesla’s U.S. official website announced that it has lowered the prices of the Model Y long-range version, Model Y high-performance version, and Model 3 rear-wheel drive version. This is the sixth time Tesla has lowered the price of electric vehicles in the United States this year. Investors Fears that price cuts will hit profits.
Wall Street Analysis
Sandi Bragar, chief account officer at wealth management firm Aspiriant, said: “The market has been a bit dull so far this earnings season. We’ve been concerned about shrinking corporate profits and lower revenues, and that’s definitely starting to show up in the companies that have reported so far. The market hasn’t really overreacted to that.”
Investors have been keeping a close eye on the banking sector after numerous bank failures last month sparked fears of contagion. Even so, the market reaction to most upcoming economic and financial news has been fairly muted, said Quincy Krosby, equity strategist at LPL Financial. Financial stocks are on a seesaw, with winners and losers changing daily.
Barclays strategist Emmanuel Cau commented that the world’s major central banks will continue to raise interest rates until they see more evidence that inflation has fallen. The economy is also better than originally expected.
The numbers are all updated before the deadline, please refer to the actual quotation
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