Yingwei Financial Investing.com-On Monday, the three major US stock indexes opened higher in early trading, but all dived in late trading. Only the Dow closed slightly higher. Earlier, Biden announced that he would nominate Powell for re-election as the chairman of the Federal Reserve and would nominate Brainard as the vice chairman of the Federal Reserve.
This week, US stocks will usher in the Thanksgiving holiday, and trading may be slightly light. According to historical data, US stocks usually perform well. CFRA chief investment strategist Sam Stovall said that since the 1950s, US stocks have generally risen during the last five trading days of November. On the day before Thanksgiving, the probability of the market rising is two-thirds, and the probability of the market rising the day after Thanksgiving is 57%.
It closed up 0.05% to 35619.25 points.
It closed down 1.26% to 15,854.76 points.
It closed down 0.32% to 4,682.94 points.
In terms of industry, among the six FAANMG technology stocks, Microsoft Corporation (NASDAQ:) closed down 0.96%, Meta (NASDAQ:) closed down 1.24%, Netflix (NASDAQ:) closed down 2.89%, and Google A (NASDAQ:) closed down. Down 1.76%, Apple (NASDAQ:) closed up 0.29%, and Amazon (NASDAQ:) closed down 2.83%. Other technology stocks, Nvidia (NASDAQ:) closed down 3.12%, American Advanced Micro Devices (NASDAQ:) closed down 1.86%, Intel Corporation (NASDAQ:) closed up 0.63%, Qualcomm (NASDAQ:) closed down 1.95% , Adobe (NASDAQ:) closed down 2.15%, Texas Instruments (NASDAQ:) closed down 1.36%, and Alibaba (NYSE:) closed down 2.65%.
In terms of ETFs, S&P 500 SPDR® S&P 500 (NYSE:) closed down 0.28%, Nasdaq 100 Invesco QQQ Trust (NASDAQ:) closed down 1.16%, gold SPDR® Gold Shares (NYSE:) fell 2.24%, gold mines VanEck Vectors Gold Miners ETF (NYSE:) fell 1.99%, silver iShares Silver Trust (NYSE:) fell 1.80%, American Petroleum Index Fund (NYSE:) closed up 1.25%, China Technology ETF Invesco China Technology ETF (NYSE:) fell 0.68%, ProShares Bitcoin Strategy ETF (NYSE:) fell 3.57%.
[Important Macro Information Affecting U.S. Stocks]
On Monday evening, the White House announced that U.S. President Biden would nominate Powell for re-election as the chairman of the Federal Reserve and would nominate Brainard as the vice chairman of the Federal Reserve. In addition, Biden said that other members of the Federal Reserve Board of Governors will be nominated in the coming weeks.
The Fed Bostic expects that in terms of inflation, the data will continue to grow strongly. In the dot plot, if appropriate, another round of rate hike may be advanced to 2022, but it may also be postponed according to the development of the epidemic.
[Overnight individual stocks and industry news, please]
On Monday, Zhihu (NYSE:), China’s largest online question-and-answer community, announced its 2021 Q3 performance report. The financial report shows that Zhihu’s Q3 revenue reached 823.5 million yuan (RMB, the same below), a year-on-year increase of 115.1%, a net loss of 268.9 million yuan, an adjusted loss of 112.4 million yuan, and Q3 average monthly active users (MAU) of 101.2 million. A year-on-year increase of 40%. As of the day’s close, Zhihu’s stock price closed up 3.92% to $8.22.
Ericsson’s largest deal in history, the acquisition of cloud communications company Vonage for US$6.2 billion
On Monday, mobile communications equipment manufacturer Ericsson Telecommunications (NASDAQ:) said it would acquire cloud communications company Vonage Holdings Corp. (NASDAQ:) for US$6.2 billion. It is reported that Ericsson will buy Vonage for $21 per share, a 28% premium to the latter’s Nasdaq closing price on the 19th. Ericsson President and CEO Börje Ekholm said that this is part of Ericsson’s strategy to start becoming more corporate businesses. As of the close of the day, Ericsson’s US stocks fell 7.14% to $10.14.
China’s new energy sector generally rose, Weilai once rose by more than 10% in intraday
On Monday, the new energy sector of Zhongyi generally rose. Weilai Automobile (NYSE:) once rose more than 10% during the intraday session, and its stock price closed up about 7%. Ideal Automobile (NASDAQ:) closed up 1.93%, Xiaopeng Automobile (NYSE:) Closed up 1.07%.
Apple rose 3% in intraday trading, recording the longest consecutive rise since July
On Monday, Apple (NASDAQ:) rose 3% during the intraday session, but gave up most of its gains in the afternoon, and finally closed up 0.3%, achieving 7 consecutive trading days of gains, recording the longest consecutive rise since July. Previously, Wedbush analyst Dan Ives believes that Apple’s launch of the Apple car is a matter of time, not whether it will be a question of whether it will be released. The time point for the possible release of the Apple car is 2024.
Tesla once soared 5% in intraday trading, with a market value of nearly $1.2 trillion
After the market opened on Monday morning, Tesla (NASDAQ:) once rose 5%, but then the company’s gains gradually narrowed. As of the close, Tesla’s stock price rose 1.74% to $1,156.87. Earlier, Tesla CEO Musk said that ModelSPlaid will be launched in China in March next year.
Chinese concept stock Xinyang Technology surged 11% and received a privatization offer initiated by the company’s CEO
On Monday, China’s concept stock New Oxygen (NASDAQ:) surged 11% to $4.82. New Oxygen announced that the board of directors has received a privatization offer initiated by the company’s co-founder, chairman of the board and CEO Jin Xing. Jin Xing intends to offer US$5.3 per American Depository Share (ADS), or US$6.89 per share of Class A common stock (13 Shares of ADS are equivalent to 10 shares of Class A common stock) in cash to acquire all the issued Class A common shares of New Oxygen Technology that are not yet owned by Jinxing and its affiliated companies (buyer group).
After the US stock market on Monday, video conferencing software company Zoom Video Communications (NASDAQ:) announced its 2021 Q3 performance report. The financial report shows that under the influence of the high growth base last year, the company’s growth rate this year has slowed down significantly. The company’s third-quarter revenue increased by 35% from the same period last year to $1.051 billion, but the growth rate was 54% lower than the previous quarter. Under the GAAP accounting standards, the net profit attributable to common shareholders was US$340 million, which exceeded market expectations by US$219 million, a year-on-year increase of 71.47%. Looking ahead, Zoom expects the fourth quarter of fiscal year 2022 to have total revenue of US$1.051-1.053 billion. As of writing, Zoom’s stock price fell 6% after the market.
[Individual stock rating]
Prager Energy (NASDAQ:): Morgan Stanley said in a research report that it maintains its “overweight” rating on Prager Energy and raises its target price from $43 to $65. The bank analyst Byrd said that he is now more optimistic about Prager Energy’s ability to grow hydrogen production and electrolyzer businesses at a faster rate, and to capture market share in these businesses.
Alibaba-SW (HK:) (NYSE:): Morgan Stanley analyst Gary Yu lowered the company’s target price for Alibaba from US$220 to US$180 and maintained an overweight rating on the stock.
[Tuesday important stocks earnings forecast]
Before the market: Xiaopeng Motors (NYSE:) (HK:), Boqi Pet (NYSE:), Best Buy (NYSE:), BOSS Direct (NASDAQ:)
After-hours: HP (NYSE:)
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(Editor: Chen Han)