Investors are waiting for the upcoming minutes of the Federal Reserve’s November meeting. Best Buy and other corporate earnings brought positive results, which further boosted market sentiment. US stock indexes all rose on Tuesday (22nd).
Ahead of the release of the minutes of the Federal Reserve’s October meeting, U.S. bond yields fell and technology stocks resumed their rally. After the Organization of the Petroleum Exporting Countries and the allied oil countries (OPEC+) insisted on their plan to cut production, international oil prices continued to rise, and energy stocks regained the ground they lost the previous day.
The S&P index rose more than 1.3% on Tuesday, regaining the 4,000-point mark,Dow Jones IndexReceived nearly 400 points in red,That fingerThe index rose more than 1.3%,fee halfThe index surged more than 3%.
In political and economic news, the seven major industrial countries (G7) are expected to announce a price cap on Russian crude oil on Wednesday. Foreign media reported that the G7 and the European Union are discussing sanctions on Russia’s invasion of Ukraine with an oil price cap of around US$60 per barrel.
At the same time, the European Union proposed to add a 45-day grace period for oil loaded before December 5 (the effective date of oil sanctions), and oil unloaded before January 19, as well as to relax key shipping terms and ease restrictions on oil exports. The strength of Russian oil sanctions.
The novel coronavirus pneumonia (COVID-19) global epidemic continues to spread. Before the deadline, the Johns Hopkins University (Johns Hopkins University) data pointed out that the number of confirmed cases worldwide has exceeded 638 million, and the number of deaths has exceeded 6.62 million. More than 12.7 billion doses of vaccines have been administered in 184 countries around the world.
The performance of the four major US stock indexes on Tuesday (22nd):
Focus stocks
The five kings of science and technology rise together. apple (AAPL-US) rose 1.47%; Alphabet (GOOGL-US) rose 1.52%; Microsoft (MSFT-US) up 1.23%; Meta (META-US) rose 1.44%; Amazon (AMZN-US) rose 0.80%.
Dow JonesComponent stocks generally rose. Salesforce (CRM-US) up 3.04%; Walgreens Boots (WBA-US) rose 2.96%; Dow Chemical (DOW-US) rose 2.79%; Chevron (CVX-US) rose 2.57%; Disney (DIS-US) fell 1.4%.
fee halfComponent stocks rose sharply. NVIDIA (NVDA-US) surged 4.71%; Applied Materials (AMAT-US) rose 1.81%; Texas Instruments (TXN-US) up 2.80%; Micron (MU-US) rose 2.55%; Intel (INTC-US) rose 3.04%; Qualcomm (QCOM-US) rose 2.87%; AMD (AMD-US) rose 3.85%.
ADR of Taiwan stocks rebounded and hit higher. TSMC ADR (TSM-US) rose 3.27%; ASE ADR (ASX-US) rose 2.87%; UMC ADR (UMC-US) rose 2.59%; Chunghwa Telecom ADR (CHT US) is flat.
Corporate News
American electronics retail giant Best Buy (Best Buy) (BBY-US) soared 12.71 percent to $79.88 a share. Best Buy beat Wall Street expectations in its latest earnings report as demand for high-priced consumer electronics remains strong even as inflation remains high, and the company left its forecast for the current quarter unchanged.
Meta (META-US) fluctuated up 1.44% to $111.44 per share. Meta CEO Mark Zuckerberg (Mark Zuckerberg) reported that he will step down as Meta CEO next year, and then Meta spokesman Andy Stone denied the news, calling it fake news.
Dell Technologies (DELL-US) soared 6.69 percent to $43.85 a share. Dell reported better-than-expected earnings, and even as personal computer (PC) purchases plummeted, Dell servers and networking equipment continued to grow.
US pharmaceutical giant Novavax (NVAX-US) soared 10.71% to $16.92 per share. Novavax asked the Global Alliance for Vaccines and Immunization (Gavi) to immediately terminate the new crown vaccine sales agreement, but the latter refused. Gavi declared that it did not violate the agreement to purchase Novavax’s new crown vaccine, and reserved all rights, including recovering the advance payment to Novavax.
Alibaba ADR (BABA-US) slipped 1.22 percent to $75.99 a share. Chinese regulators are set to fine Alibaba affiliate Ant Group more than $1 billion, potentially bringing to a close a two-year regulatory overhaul.
Wall Street Analysis
This Thursday is the Thanksgiving holiday, so US stocks will be closed. According to Craig Johnson, a market technician at Piper Sandler, the U.S. Thanksgiving week is often bullish for the stock market. Since 1950, in 68% of Thanksgiving weeks, U.S. stocks began to fall on Monday and then improved around Thanksgiving on Thursday.
Investors expect the minutes of the Fed’s November meeting to show that interest rates still need to be raised enough to curb inflation. Krishna Guha, analyst at Evercore ISI, said: “Fed officials want to get out of the 3-yard rate hike streak, although they find it difficult to do so while maintaining control over financial conditions.”
David Donabedian, chief investment officer at CIBC Personal Finance, said: “The communication strategy of Fed officials is obviously to decide that they would rather be too hawkish in their message, especially when the U.S. stock market is soaring, they seem to do so.”
“Despite signs of cooling inflation, the Fed could raise its forecast for terminal interest rates as early as December,” said Sonia Meskin, head of U.S. macro at BNY Mellon Investment Management.
The numbers are all updated before the deadline, please refer to the actual quotation