1. Pre-market performance of U.S. stock futures (4:26 p.m. Taipei time):
■ Dow Jones Index: down 40 points, or -0.12%, to 33894.
■ Nasdaq 100 Index: down 10.75, or -0.09%, to 12504.75.
■ S&P 500 Index: down 2.75, or -0.07%, to 4120.75.
[Today’s general economic data]Federal Reserve Chairman Jerome Powell’s speech tonight, the US trade balance in December.
Following last Friday’s strong non-farm payrolls data, today’s market will focus on whether Powell’s talk turns hawkish. Regarding yesterday’s interview with U.S. Treasury Secretary Yellen, she said that U.S. inflation has begun to decline, while U.S. employment is still strong, so the U.S. economy will not decline, and that the Fed’s current primary goal is still to slow down inflation, so the market is worried Powell’s talk tonight will likely turn to Eagle.
2. Pre-market focus on US stocks
1. U.S. Treasury Secretary Yellen said that the 53-year low unemployment rate in the U.S. is unlikely to see a recession: U.S. Treasury Secretary Yellen said on ABC’s Good Morning America yesterday, “When you have 500,000 jobs and more than 50 years When the unemployment rate is the lowest, there is no recession.” “What I see is a path where inflation is significantly lower and the economy remains strong.”
U.S. inflation has fallen sharply since the past six months, while the latest non-farm payrolls data released last Friday showed an increase of 517,000 jobs and an unemployment rate of 3.4%, a 53.5-year low . While layoffs in the tech sector have been strong, hiring remains strong for now. Therefore, the current primary goal of the Federal Reserve is still to reduce inflation, so it will continue to maintain a tight monetary policy; the current three independent bills in the United States, the “Reducing Inflation Act”, “Infrastructure Act”, and “Chip Act” will all help to reduce inflation.
2. Google launches chatbot Bard to fight Microsoft’s ChatGPT: Google announced yesterday that it will launch an artificial intelligence (AI) chatbot called Bard. Google issued a “red alert” to the menacing ChatGPT last year, and internal AI engineers stepped up their steps to respond.
Sundar Pichai, CEO of Google’s parent company Alphapet, said in a blog post yesterday that Bard will generate a paragraph based on intercepted information on the Internet to respond to questions raised by users. Bard is currently being tested by select individuals, with plans to roll it out in a few weeks. The current biggest competitor, Microsoft, also announced that it will hold a press conference on the same day, and is currently expected to release ChatGPT-related services; in addition, today China’s Baidu (BIDU.US) also stated that its ChatGPT-like product will be named “Wen Xin Yi Yan” .
3. Nintendo’s Q3 quarterly report is lower than market expectations: Nintendo announced earlier today that its third-quarter net profit reached 115.78 billionyenlower than market expectations of 155.94 billionyen.Net profit is 190.15 billionyenalso lower than market expectations of 240.28 billionyenboth lower than market expectations.
In addition, Nintendo also gave a sales forecast for this year, with annual net sales of 1.60 trillion yuan.yenpreviously estimated at 1.65 trillionyen;Annual operating profit of 480 billionyenpreviously expected to be 500 billionyen. In addition, Nintendo’s main hardware game Switch is also expected to sell 18 million units, which was previously expected to be 19 million units.(Recommended reading: U.S. stock pre-market newsletter updated daily)
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