Wall Street digested the minutes of the latest Federal Reserve meeting, and multiple retailers including Macy’s and Dollar Tree Stores reported stellar earnings, alleviating concerns about the strength of U.S. consumption, along with hopes that Shanghai will be lifted next week, plus Nvidia After the financial forecast failed, it still rose. US stocks opened higher and higher on Thursday (26th), and technology stocks rebounded strongly.that fingerandhalf feerose more than 2.6%,Dow JonesAfter closing in the red by more than 500 points, the S&P rose nearly 2%, and stood at the 4,000-point mark again.
On the political and economic front, the minutes of the Federal Reserve’s May meeting showed that a 50 basis point hike over the next two months may be appropriate and hinted at flexibility in raising interest rates. Bank of America judged on Thursday that recent comments from officials including Cleveland Fed President Loretta Mester and Atlanta Fed President Raphael Bostic hinted at the possibility of slowing or halting rate hikes in September .
U.S. Secretary of State Antony J. Blinken said in an important speech on Thursday that even if the Ukrainian-Russian war continues, the U.S. will remain focused on the most serious long-term challenge to the international order, the challenge posed by China. The United States is not seeking conflict or a new Cold War. The keynote of the United States is a two-pronged approach to competition and cooperation with China. It reiterates that the United States’ policy toward Taiwan will remain unchanged, and it supports Taiwan’s participation in international organizations, but does not support Taiwan’s independence.
The global epidemic of new coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States pointed out that the number of confirmed cases worldwide has exceeded 527 million, and the number of deaths has exceeded 6.28 million. More than 11.9 billion vaccine doses have been administered in 184 countries worldwide.
The performance of the four major U.S. stock indexes on Thursday (26th):
- US stocksDow JonesUp 516.91 points, or 1.61 percent, to settle at 32,637.19.
- NasdaqThe index rose 305.91 points, or 2.68 percent, to end at 11,740.65.
- S&P 500 IndexUp 79.11 points, or 1.99 percent, to settle at 4,057.84.
- Philadelphia SemiconductorThe index rose 111.7 points, or 3.87 percent, to end at 2,994.6.
Focus stocks
The five kings of science and technology have all ascended. apple (AAPL-US) rose 2.32%; Meta (formerly Facebook) (FB-US) rose 4.24%; Alphabet (GOOGL-US) rose 1.88%; Amazon (AMZN-US) rose 4.03 percent; Microsoft (MSFT-US) rose 1.29 percent.
Dow JonesMore than half of the constituents ended higher. Boeing (BA-US) rose 4.65%; Nike (US-US) rose 4.38%; Home Depot (HD-US) rose 3.15%; American Express (AXP-US) rose 3.03%; Merck (MRK-US) fell 1.54%.
half feeConstituent stocks rose collectively. Intel (INTC-US) rose 3.03 percent; Applied Materials (AMAT-US) surged 6.03%; Micron (MU-US) rose 4.02%; Texas Instruments (TXN-US) rose 2.42%; AMD (AMD-US) surged 6.58%; NVIDIA (NVDA-US) rose 5.16%; Qualcomm (QCOM-US) rose 2.75%.
Taiwan stock ADR continued to rise. TSMC ADR (TSM-US) rose 0.70%; ASE ADR (ASX-US) rose 2.97%; UMC ADR (UMC-US) rose 2.13 percent; Chunghwa Telecom ADR (CHT US) rose 1.58%.
corporate news
Macy’s (M-US) surged 19.31% to $22.92 per share. Macy’s reported first-quarter profit and sales that beat expectations as shoppers returned to shopping malls. The company reiterated its fiscal 2022 sales forecast and raised its profit forecast, expecting higher card swipe revenue by the end of the year.
US chip maker Broadcom (AVGO-US) on Thursday with VMware (VMW-US) up more than 3%. Broadcom announced on Thursday that it would acquire VMware in a $61 billion cash and stock deal, the third-largest technology acquisition in history, after Microsoft’s $69 billion acquisition of Activision Blizzard and Dell’s $67 billion acquisition of EMC. .
Alibaba ADR (BABA-US) soared 14.79% to $94.48 per share.Alibaba reports fourth-quarter revenue of 204.05 billion yuanRMBhigher than market expectations, as growing demand for online shopping services in China offset market weakness caused by the epidemic.
apple (AAPL-US) rose 2.32 percent to $143.78 a share. Despite supply chain constraints and expected high demand for new iPhones this fall, Apple plans to produce about 220 million iPhones in 2022, roughly the same as last year, Bloomberg reported.
Technology giant Huida’s latest financial forecast is not as good as expected. Huida Chief Financial Officer Colette Kress said that due to the impact of the new crown epidemic prevention blockade in Russia and China, it is estimated that the revenue in the second quarter will be shortened by about 500 million US dollars. However, Huida (NVDA-US) was not dragged down by this bad news, and still closed up a dividend of 5.16% to $178.51 per share. According to market analysis, Huida’s buying may suggest that the market has fallen deeply, and investors are actively buying on dips.
Foreign media reported on Thursday that Musk was sued by Twitter shareholders, accusing Musk of violating California corporate law in multiple ways and participating in market manipulation, but Tesla (TSLA-US) soared 7.43% to $707.73 per share on Thursday, mainly because Ark Invest, led by female stock god Cathie Wood, bought the bottom of Tesla for two consecutive days.
At the same time, Ark Investment also took advantage of the situation to increase its weight on Zoom (ZM-US) Yo Ruku (YEAR-US) and other growth stocks, Zoom surpassed Tesla and Roku in one fell swoop to become the ARK Innovation ETF (ARKK-US) the largest holding stocks. Zoom(ZM-US) rose 4.55% to $107.00 a share on Thursday.
Economic data
- The number of initial jobless claims in the United States in the week of May 21 was 210,000, 215,000 were expected, and the previous value was 218,000
- US first quarter personal consumption expenditures (PCE) annualized revised value (quarterly increase) 3.1%, expected 2.8%, the previous value of 2.7%
- U.S. first-quarter real GDP annualized revision (quarterly increase) -1.5%, expected -1.3%, previous value -1.4%
Wall Street Analysis
Edward Moya, senior market analyst at Oanda, pointed out that U.S. stocks are rising because investors believe that the minutes released by the Federal Reserve promised to only gradually tighten policy to fight inflation.
Quincy Krosby, equity strategist at LPL Financial, said the market was unsurprisingly shouting that U.S. stocks were severely oversold, but Thursday’s rally in U.S. stocks suggested that last week’s news of U.S. consumer pessimism and a deep recession may have been overdone.
Krosby mentioned that it is certain that this week’s data shows that the economy is slowing, and the Fed appears to be ready to raise interest rates by 2 yards in the next two months, but the claim that consumers, who make up 70% of the US economy, are resisting spending is an exaggeration. , because some corporate financial reports and financial forecasts show that this is not the case.
Zachary Hill, head of portfolio strategy at Horizon Investments, said it was too early to shift the focus from inflation to economic growth, and that this week’s stock market was essentially a technical rebound, somewhat expected but likely short-lived.
The figures are updated before the deadline, please refer to the actual quotation.