The latest economic data showed that U.S. consumer spending increased in April and inflation peaked and declined. , the index ended up 2.5%, regaining lost ground in May.Dow JonesIt closed more than 570 points in the red, rising for the sixth consecutive trading day.
Looking at this week, all three major indexes had their best week since November 2020,Dow JonesThis week rose 6.2%, ending the longest eight-week losing streak since 1923, and the S&P rose 6.5% for the week.that fingerIt rose 6.8% for the week, ending its seventh straight weekly decline.
Strong earnings push retail stocks higher, with Dollar Tree (DLTR-US) 、 Ulta Beauty (ULTA-US) and Ross Department Store (ROST-US) was the biggest gainer in the S&P this week, up at least 20% each.
On the data front, the U.S. core personal consumption expenditures (PCE) price index rose 4.9% in April from a year earlier, down from 5.2% in the previous month and the lowest this year. The Fed’s preferred inflation measure suggests U.S. inflation may have hit Top slides. At the same time, personal income in the United States increased by 0.4% in April, slightly higher than expected, and personal consumption expenditure increased by 0.9% month on month, rising for four consecutive months, highlighting that the US economy continues to maintain growth momentum.
In terms of politics and economy, U.S. Secretary of State Antony J. Blinken said on Thursday that the U.S. will not prevent China from developing its economy, but hopes that China will abide by international rules. Market analysis believes that this is beneficial to bilateral relations.
To fight the outbreak, the Biden administration on Friday extended for another six months tariff exemptions for 81 medical supplies from China needed for the new crown outbreak, including blood oxygen machines, blood pressure monitors and MRI machines.
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 528 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 Friday (27th):
- US stocksDow JonesUp 575.77 points, or 1.76 percent, to 33,212.96.
- NasdaqThe index rose 390.48 points, or 3.33 percent, to end at 12,131.13.
- S&P 500 IndexUp 100.4 points, or 2.47%, to settle at 4,158.24.
- Philadelphia SemiconductorThe index gained 120.7 points, or 4.03 percent, to end at 3,115.4.
Focus stocks
The five kings of science and technology are together. apple (AAPL-US) rose 4.08%; Meta (formerly Facebook) (FB-US) rose 1.83%; Alphabet (GOOGL-US) rose 4.20%; Amazon (AMZN-US) rose 3.66%; Microsoft (MSFT-US) rose 1.79%.
Dow JonesAll constituents received dividends. Boeing (BA-US) rose 3.52%; Disney (DIS-US) rose 3.51 percent; Dow Chemical (DOW-US) rose 2.86%; Nike (US-US) rose 2.7 percent; American Express (AXP-US) rose 2.56%.
half feeConstituent stock momentum is like a rainbow. Intel (INTC-US) rose 2.46 percent; Applied Materials (AMAT-US) rose 3.83%; Micron (MU-US) rose 3.85%; Texas Instruments (TXN-US) rose 2.21%; AMD (AMD-US) rose 3.55%; NVIDIA (NVDA-US) rose 5.38%; Qualcomm (QCOM-US) rose 3.65%.
Taiwan stock ADR is only weaker than Chunghwa Telecom. TSMC ADR (TSM-US) rose 3.04%; ASE ADR (ASX-US) rose 2.16%; UMC ADR (UMC-US) rose 1.62%; Chunghwa Telecom ADR (CHT US) fell 0.84%.
corporate news
Retail stocks reported mixed earnings. US casual apparel retailer Gap’s first-quarter loss far exceeded market expectations and sharply revised down its full-year profit forecast. Gap (GPS-US) closed in the red 4.32% to $11.60 per share after the opening dive on Friday.
Meanwhile, beauty salon retailer Ulta Beauty (ULTA-US) soared 12.47% to $425.08 per share. The company beat Wall Street expectations last quarter and raised its full-year outlook.
Costco (COST-US) rose 1.24 percent to $470.76 a share. Costco’s same-store sales growth in the last quarter was lower than market expectations, and gross profit margins fell, but revenue was better than market expectations.
apple (AAPL-US) rose 4.08 percent to $149.64 a share. Apple’s official website in Thailand has revealed that the iPhone 14 Pro series will feature a double-hole screen like the rumored exclamation mark, and the screen frame will be narrower.
Tesla (TSLA-US) surged 7.33 percent to $759.63 a share, rising for three straight sessions. Credit Suisse analyst Dan Levy reiterated his “buy” rating and $1,125 price target on Tesla after a tour of Tesla’s California plant on Friday. He pointed out that the production of the California plant continues to improve, and the recent downturn in Tesla’s stock price has brought an attractive buying point, and it is judged that the production problem of the Shanghai plant is not a long-term problem.
Pinduoduo (PDD-US) surged 15.19% to $48.30 per share. China’s Pinduoduo reported better-than-expected revenue on Friday as more people shopped online amid a resurgence of coronavirus cases in parts of the country.
Economic data
- US April core personal consumption expenditures (PCE) PCE price index increased by 4.9%, expected 4.9%, the previous value of 5.2%
- US April PCE price index rose 0.9%, expected 0.8%, the previous value of 1.4%
- US personal income rose 0.4% in April, expected 0.5%, the previous value of 0.5%
- U.S. merchandise trade balance in April (USD 100 million) -1059.4, expected -1148, previous value -1259
Wall Street Analysis
Economic data and corporate earnings have driven recent gains in U.S. stocks, with U.S. stocksDow JonesThe record for the worst weekly drop in the past 100 years was finally broken. Investors are assessing how far this week’s rally can go, whether it’s a relief rally or whether the prolonged sell-off is over.
Some analysts remain wary. Alex Veroude, chief investment officer at Insight Investment, believes that this is not the end of the downtrend, but more like a bear market rally.
Sanctuary Wealth chief investment officer Jeff Kilburg sees U.S. bond performance as a beacon for the stock market,10-Year U.S. Treasury YieldIt has fallen below 2.75% from a peak of about 3.25% this year.
Kilburg said: “A lot of investors are too pessimistic, and when you see U.S. Treasury yields above 3%, it’s not sustainable. When the indicator is below 2.75%, the stock market can recover, which is a return to the stock market. best short-term indicator.”
Juheng’s warm reminder: Next Monday (30th) is Memorial Day, and the US stock market will be closed for one day.
The figures are updated before the deadline, please refer to the actual quotation.