Banking stocks earnings report, economic data report good news, Dow Jones opened up 400 points | Anue Juheng-US stocks

Large US bank stocks have successively announced excellent financial reports, driving up risk sentiment. The Dow Jones rose by more than 400 points at the opening on Thursday (14th), the Nasdaq Composite Index also rose by more than 1%, and the S&P 500 Index rose by 0.9%. Fee Ban soared more than 2%.

Bank of America (BAC-US) Opened up more than 3%, Morgan Stanley (MS-US) Rose 2.5%, Wells Fargo (WFC-US) Rose more than 1%. Due to the easing of loan default risks, many banks have released allowances for loan losses, and the enthusiasm of corporate mergers and acquisitions has also led to higher investment bank revenues.

Dow Component United Health (UNH-US) 和 Walgreens Boots Alliance(WBA-US) The opening also rose simultaneously, and the earnings performance of the two companies exceeded expectations. Boeing (BA-US) After it was reported that there were problems with the parts of the 787 Fantasy model, the opening dropped 0.2%.

Facebook (FB-US), Amazon (AMZN-US),Apple(AAPL-US),Microsoft(MSFT-US)、Alphabet(GOOGL-US) Waiting for growth stocks to open higher, in TSMC ADR (TSM-US) And ASML (ASML-US) Under the leadership, Fei’s semi-constituent stocks all rose happily.

On the economic data, the US unemployment benefits report once again reported good news. Earlier this week, the number of recipients fell to 293,000, which was the first time since the outbreak of the epidemic last year that it fell below 300,000.

In addition, the producer price index (PPI) of the United States continued to climb in September, but the growth rate was lower than market expectations. The PPI increased by 0.5% monthly and 8.6% annually, and the core PPI increased 0.2% monthly and 6.8% annually. PPI is also one of the main indicators used to measure inflation.

Before the deadline, the 10-year U.S. Treasury yield fell to 1.530%, and the weaker U.S. dollar supported gold prices to rise slightly.

As of 21 o’clock on Thursday (14th) Taipei time:
  • The Dow Jones Industrial Average rose 370 points, or 1.08%, to 34747.81 points temporarily
  • The Nasdaq Composite Index rose 159.47 points, or 1.10%, to 14731.24 points temporarily
  • The S&P 500 Index rose 41.51 points, or 0.95%, to 4,405.31 points temporarily
  • Fees rose by 70.75 points, or 2.22%, to 3,263.27 points temporarily
  • TSMC ADR rises 3.62% to US$113.79 per share
  • The 10-year U.S. Treasury yield fell to 1.530%
  • New York light crude oil rose 0.90% to US$81.16 per barrel
  • Brent crude oil rose 1.15% to $84.14 per barrel
  • Gold rose 0.27% to $1799.50 per ounce
  • The dollar index fell to 93.93
Daily chart of the Dow Jones Industrial Average (Photo: Juheng.com)
Focus stocks:

United Health (UNH-US) Rose 5.83% in early trading to $427.12.

UnitedHealth Group (UnitedHealth Group) announced its latest financial report before the market. Benefited from the strong growth of Optum’s business revenue, UnitedHealth’s Q3 total revenue and EPS both exceeded analysts’ expectations and raised its full-year profit outlook.

Morgan Stanley (MS-US) Rose 2.47% in early trading to $100.96.

Due to new highs in investment banking revenue and continued outstanding performance in trading department revenue, Morgan Stanley announced that Q3 revenue was US$14.75 billion, an annual increase of 26%, and net profit was US$3.7 billion, an annual increase of 36%, both exceeding market expectations.

Bank of America (BAC-US) Rose 3.11% in early trading to $44.46.

Before the market, Bank of America announced that its Q3 revenue increased by 12% year-on-year to US$22.8 billion, and its net profit increased by 58% compared with the same period last year. The financial report was better than Wall Street expectations. With the improvement of loan default risk, Bank of America also announced the release of US$1.1 billion. Set off loan losses.

Today’s key economic data:
  • The United States reported 293,000 unemployment benefits last week (10/9), and an expected 320,000. The previous value was raised from 326,000 to 329,000.
  • The United States last week (10/2) reported 2.59 million unemployment benefits, which is expected to be 2.67 million. The previous value was raised from 2.714 million to 2.727 million
  • The US September PPI annual growth rate reported 8.6%, expected 8.8%, previous value 8.3%
  • The monthly increase rate of the US PPI in September reported 0.5%, which is expected to be 0.6%, and the previous value is 0.7%
  • The US core PPI annual growth rate in September reported 6.8%, expected to be 7.1%, and the previous value was 6.7%
  • US September core PPI monthly growth rate reported 0.2%, expected 0.5%, previous value 0.6%
  Blue: PPI annual growth rate, green: PPI monthly growth rate (Picture: Zerohedge)
Blue: PPI annual growth rate, green: PPI monthly growth rate (Picture: Zerohedge)
  • 23:00 Taipei time announced the increase and decrease of EIA crude oil inventories last week, the previous value was 2.345 million barrels
Wall Street analysis:

CMC Markets analyst Michael Hewson said that although Fed officials acknowledged that inflation may last longer than originally expected, the market seems to underestimate a trend that supply chain issues coupled with soaring energy prices are likely for a long time to come. Keep inflation expectations high.

Jeff Klingelhofer, co-head of investment at Thornburg Investment Management, said that the trend of wage growth will be closely monitored in the future. He believes that this is a key figure to clarify the direction of Fed’s policy and prove whether inflation is a temporary phenomenon. The company currently predicts that wage growth will be in the future Keep it mild for months or seasons.


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