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U.S. debt surges, Apple’s market value regains $3 trillion crown, Dow Jones falls for the first time in a row in the past month | Anue Juheng – U.S. Stock Radar

by Chief editor of world-today-news.com December 5, 2023

written by Chief editor of world-today-news.com

The latest employment data strengthened expectations that the Federal Reserve will cut interest rates as soon as March next year.10-Year Treasury Bond YieldBreaking 4.2%, the main US stock index had mixed gains and losses on Tuesday (5th).Apple’s market capitalization exceeded US$3 trillion for the first time since early August, eliminatingDow Jonespartial loss,Dow JonesIt closed nearly 80 points lower, marking the first consecutive decline in the past month.

In terms of data, the number of job vacancies in the United States fell to 8.733 million in October, the lowest since the beginning of 2021, far lower than market expectations. At the same time, the number of hirings in the United States fell slightly to 5.9 million in October, while the number of resignations rose slightly to 5.6 million. people, highlighting that the job market may be cooling.

In terms of politics and economy, the last interest rate decision-making meeting of the year will be held on December 12th and 13th. Federal Reserve officials are entering a period of silence. The market predicts that the probability of the Federal Reserve cutting interest rates in the first quarter of next year is 70%, and is expected to The Fed will cut interest rates five times by the end of 2024.

The change in thinking of the European Central Bank is in line with expectations of a U.S. central bank shift. The most hawkish official of the European Central Bank, Isabel Schnabel, has turned dovish. She said that given the “significant” decline in inflation, the European Central Bank does not need to raise interest rates. In addition, Policymakers should not lead markets to believe that interest rates will remain stable until mid-2024.

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said in an interview on Monday that oil production cuts by the Organization of the Petroleum Exporting Countries and its partners (OPEC+) can “absolutely” continue beyond the first quarter if necessary. , and promised to fully implement production cuts.

According to the latest report released by McKinsey, banks using generative artificial intelligence (AI) tools can increase revenue by up to $340 billion per year through increased productivity, hoping to help the industry adapt to this rapidly growing field.

Moody’s issued a statement on Tuesday, lowering China’s outlook from stable to negative while retaining the long-term rating of China’s sovereign bonds at A1. Moody’s said China’s use of fiscal stimulus to support local governments and its worsening real estate downturn are creating risks for the country’s economy. Chinese officials said they were “disappointed” with Moody’s decision.

Performance of major U.S. stock indexes on Tuesday (5th):

US stocksDow Jones IndexIt fell 79.88 points, or 0.22%, to close at 36,124.56 points.
NasdaqThe index rose 44.42 points, or 0.31%, to close at 14,229.91 points.
S&P 500 IndexIt fell 2.6 points, or 0.06%, to close at 4,567.18 points.
Philadelphia SemiconductorThe index fell 21.05 points, or 0.57%, to close at 3,672.39 points.
The NYSE FANG + index rose 51.65 points, or 0.64%, to close at 8,155.01 points.

Eight of the 11 major S&P sectors ended in the black, with energy and materials leading the decline. Information technology saw the best gains (Image: finviz)

Focus stocks

The five technology kings in the NYSE FANG+ index were led by Apple. apple (AAPL-US) rose 2.11%; Alphabet (GOOGL-US) rose 1.34%; Meta (META-US) fell 0.54%; Microsoft (MSFT-US) rose 0.92%; Amazon (AMZN-US) rose 1.41%.

Dow JonesComponent stocks were mixed. Baoqiao (PG-US) fell 3.49%; Goldman Sachs (GS-US) fell 2.19%; Dow Chemical (DOW-US) fell 1.84%; Verizon Communications (VZ-US) rose 1%; Merck (MRK-US) rose 1.11%.

half feeComponent stocks closed mostly in the black. Broadcom (AVGO-US) fell 1.17%; Qualcomm (QCOM-US) rose 0.62%; Huida (NVDA-US) rose 2.33%; Micron (MU-US) fell 0.81%; Applied Materials (AMAT-US) fell 1.43%; AMD (AMD-US) fell 0.14%; TI (TXN-US) fell 0.11%.

Among Taiwan stock ADRs, UMC performed the worst. TSMC ADR (TSM-US) fell 0.33%; ASE ADR (ASX-US) fell 0.46%; UMC ADR (UMC-US) fell 1.53%; Chunghwa Telecom ADR (CHT-US) rose 0.73%.

Corporate News

Motivated by multiple bullish news, Apple (AAPL-US) rose 2.11% to $193.42 per share, regaining the $3 trillion crown for the first time since early August.

Reuters reported on Tuesday, citing sources, that Hon Hai has resumed iPhone production at its factory in India. Bank of America analysts said in a report that Apple’s App Store revenue in the first quarter of fiscal year 2024 will increase by 11.3% year-on-year. Technical analysts previously pointed out that Apple’s stock price has been trading sideways for some time and is currently touching the 20-day moving average, which may be a bullish signal.

Chinese electric car maker NIO (NIO-US) closed at a 1.50% dividend to $7.43 per share. NIO announced its bleak financial results for the third quarter of fiscal year 2023 before the market opened on Tuesday. Although revenue in the quarter increased by more than 40%, it was still lower than Wall Street analysts’ expectations. At the same time, the loss in the quarter increased by more than 10% compared with the same period last year. In addition, in the fourth quarter Electric vehicle delivery numbers and revenue outlook also performed poorly.

Ericsson ADR (ERIC-US) was up 4.00% at $5.46 per share. Rival Nokia ADR (NOK-US) fell 5.06% to $3.00 per share. AT&T announced it has chosen telecommunications equipment maker Ericsson to modernize its U.S. wireless network, a project that could cost nearly $14 billion over five years.

FuGuo bank (WFC-US) fell 1.40% to $44.49 per share. Wells Fargo CEO Charlie Scharf said Tuesday that job cuts are coming and severance pay will be close to $1 billion in the fourth quarter.

American software open source platform GitLab (GTLB-US) surged 11.45% to $58.99 per share. GitLab’s latest financial report beat expectations and recorded its first adjusted profit, while issuing strong guidance for the quarter.

Economic data

The ISM non-manufacturing index in the United States in November was 52.7, expected 51.8, and the previous value was 52.
The number of JOLTs job vacancies in the United States in October was reported at 8.733 million, compared with the expectation of 9.553 million, and the previous value of 9.3 million.

Wall Street Analysis

“As interest rates rise and demand slows, companies are reducing job openings, which is essentially what the Fed wants to see,” said Sam Stovall, investment strategist at CFRA Research.

Julia Pollak, chief economist at ZipRecruiter, said: “The employment data shows that the chances of the United States achieving the soft landing goal are getting higher and higher, and we are very, very close.”

Many on Wall Street say these bullish signals could continue into 2024, with analysts saying they expectS&P 500 IndexIt will top out at 4,700 points.

Jeremy Siegel, a well-known finance professor at the Wharton School of the University of Pennsylvania, pointed out: “Dow JonesWe are very close to reaching a new all-time high, and as we will see in the coming months, the main risk to forecasting a U.S. stock rally is that the Fed remains focused on inflation concerns. “

Jason Heller, senior executive vice president at Coastal Wealth, warned: “Investors should lower their expectations for a rise in the stock market in 2024. Given high interest rates, weak consumers and weakening earnings expectations, the stock market has few catalysts to continue rising, and the stock market is expected to remain in a tight range. trade.”

The figures are all updated before the deadline, please refer to the actual quotation.

2023-12-05 21:36:57
#U.S #stocks #hours #U.S #debt #surges #Apples #market #regains #trillion #crown #Dow #Jones #falls #time #row #month #Anue #Juheng #U.S #Stock #Radar

December 5, 2023 0 comments

Business

Morgan Stanley analyst: U.S. stocks will still be volatile before the end of the year after the surge in November | Anue Juheng-U.S. Stock Radar

by Chief editor of world-today-news.com December 4, 2023

written by Chief editor of world-today-news.com

Mike Wilson, a well-known short seller of U.S. stocks on Wall Street, chief investment officer and U.S. stock strategist at Morgan Stanley, said that with the fluctuation of U.S. bond yields, U.S. stocks will be volatile at the end of the year after rising in November.

In his latest report, he pointed out that both yields and U.S. stocks are likely to be volatile in December before finding support from more constructive seasonal trends and the so-called “January effect” next month.

at presentS&P 500 IndexIn overbought territory, this technical level is often considered a precursor to a sell-off. despite this,S&P 500 IndexThe MACD momentum indicator is still positive. The slowdown in the economy and the decline in inflation have led to market bets that the Federal Reserve (Fed) may start cutting interest rates as soon as March next year.

Wilson said that while investors have digested several shifts in Fed policy over the past year, this time they have shown “the greatest support” because they expect it to occur against a backdrop of still healthy macroeconomic conditions. Wilson believes this scenario “would be the most positive outcome for U.S. stocks.”

Similar to the market consensus, other Wall Street forecasters are also optimistic about the prospects for U.S. stocks next year, with Bank of America, Deutsche Bank and Royal Canadian Capital Markets predicting thatS&P 500 Indexwill hit a record high.

Wilson maintains a roughly neutral view on next year’s full year. He predicts that the index will be around 4,500 points by the end of next year, about 2% lower than current levels.

It is worth mentioning that Wilson has repeatedly been short on U.S. stocks. At the beginning of the sharp rebound in U.S. stocks last month, he said that U.S. stocks looked more like a bear market rebound than the beginning of a sustained rise. Last year, Wilson attracted much attention for correctly predicting the sharp decline in U.S. stocks. However, his judgment on the big rebound in U.S. stocks in the first half of this year was inaccurate.

On the other hand, J.P. Morgan strategists are among the most pessimistic on Wall Street, predictingS&P 500 IndexIt will fall to 4,200 points by the end of next year. In a report on Monday, the research team led by Mislav Matejka said that economists and financial markets are predicting a soft landing for the economy and there will be no room for error next year. “Maybe people should be contrarian again,” Mislav Matejka said.

2023-12-04 15:30:03
#Morgan #Stanley #analyst #U.S #stocks #volatile #year #surge #November #Anue #JuhengU.S #Stock #Radar

December 4, 2023 0 comments

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The November results of the U.S. stock market were announced, detailing the best and worst constituent stocks of the three major indexes | Anue Juheng-U.S. Stock Radar

by Chief editor of world-today-news.com December 1, 2023

written by Chief editor of world-today-news.com

U.S. stocks ended a strong month on Thursday (30th),Dow Jones Industrial Average November recorded the largest monthly gain since October 2022, while S&P 500 Exponential sumNasdaq Composite IndexBoth recorded the largest monthly gains since July 2022.

Here’s a breakdown of the best and worst-performing stocks on the three major indexes in November:

Dow Jonesindustrial average

Salesforce (the global leader in cloud customer relationship management software)CRM-US) rose 25% in November, isDowThe top-performing component also had its best month since January.

Salesforce reported third-quarter profit, revenue and guidance after the bell on Wednesday that beat Wall Street expectations. While it’s been hit by weakness in some parts of the economy, causing customers to continue to cut back on spending to save costs, Salesforce said customers have become more optimistic about the future.

Cisco Systems (CSCO-US) fell 7.2% in November toDowIt was the worst-performing component of the index and had its worst monthly performance since April.

Cisco said at the beginning of the month that new product orders would slow down in the first quarter of fiscal 2024 due to unusually strong product deliveries in the past three quarters, and its stock price fell in response.

S&P 500 index

Online travel company Expedia (EXPE-US) topped the index in November with a 42.9% gain and had its strongest monthly performance since April 2009. The stock has soared 55% so far this year.

Automated insulin technology developer Insulet (PODD-US) ranked second with a gain of 42.6%, the stock’s best month since December 2008, but the stock is still down about 36% so far this year.

Insulet reported solid financial results on November 2, giving investors reason for optimism. Due to increased market demand, the company’s third-quarter profits and revenue not only exceeded Wall Street expectations, but also soared compared with the same period last year. Insulet also raised its revenue growth forecast for the current fiscal year.

Some are happy and some are sad, Paycom Software (PAYC-US) ranked last in the index with a 26% decline, marking the stock’s worst month since March 2020.

Paycom on October 31 lowered its full-year revenue forecast to a level below Wall Street expectations.

Nasdaq 100 index

Multinational business group Pinduoduo Holdings (PDD Holdings) (PDD-US)’s ADR surged 45% in November, ranking first in the index, beating Datadog ( which rose 43%DOG-US). (Datadog has its best monthly performance since May 2020)

Security software supplier Datadog released its financial report at the beginning of the month. Not only did its profits exceed expectations, but it also raised its sales forecast for this fiscal year. The company’s number of customers and annual recurring revenue also increased from the previous year.

Chief Financial Officer David Obstler expects that customers will continue to grasp costs, but the extent has slowed and is not as strong and widespread as in recent quarters.

Fortinet is NovemberNasdaq The worst performing stock in the 100 index, down 8.1%.

2023-12-01 05:30:06
#November #results #U.S #stock #market #announced #detailing #worst #constituent #stocks #major #indexes #Anue #JuhengU.S #Stock #Radar

December 1, 2023 0 comments

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Is there a bullish signal for U.S. stocks?Companies and insiders are buying back shares on a large scale | Anue Juheng – US stocks

by Chief editor of world-today-news.com November 29, 2023

written by Chief editor of world-today-news.com

U.S. companies and insiders are rushing to buy shares, sending a signal that U.S. stocks’ stellar performance in November is expected to continue.

In the past month, the value of the U.S. stock market has surged by US$500 million. Goldman Sachs’ corporate client repurchase activities have experienced “substantial growth.” A similar situation has occurred with Bank of America’s repurchase platform. The busyness of executing orders has just hit the busiest week in the company’s history.

According to data compiled by strategists including Jill Carey Hall and Savita Subramanian, repurchases by Bank of America’s (BofA) corporate clients have remained above seasonal levels for three consecutive weeks, with one week’s repurchases reaching a record high of $4.8 billion. .

Corporate insiders are also in stock-buying mode. Business executives and executives rushed to buy their own stocks in November, with the ratio of buyers to sellers about to hit a six-month high, according to data compiled by the Washington Service.

Mike Bailey, director of research at FBB Capital Partners, said: “Corporate insiders believe in a bull market scenario of falling inflation, an end to rate hikes, and mission accomplished. They want to get a better grasp of that message and are willing to pay big money to do so. It’s twofold. There are signs of optimism, with corporate and internal executives buying back their own stocks.”

As of this Monday (27th) in November, nearly 900 corporate insiders have purchased their own stocks, more than double the number last month. Although the number of sellers has also increased, the magnitude is smaller, causing the buying and selling ratio to jump to 0.54, the highest since May.

The enthusiasm within companies for repurchasing shares echoes the optimism in the market.Retail investors and large fund managers are exiting bearish bets, with fear of missing out expected to keep theS&P 500 IndexUshering in the best November ever.Venu Krishna, a strategist at Barclays Bank, also forecasts 2024S&P 500 IndexThe target price is raised by 300 points to 4800 points, with room for a 5% increase from the current level.

After consecutive earnings contractions, data compiled by Bloomberg Intelligence showedS&P 500 IndexComponent companies returned to positive profit growth in the third quarter. Bailey said as corporate profit expansion accelerates next year and interest rates slide, stocks will be viewed as an attractive investment, especially those that have been left behind this year in a rally led by the Magnificent 7. of stocks.

Bailey said: “In addition to the Big Seven, there are many profitable and growing companies whose stock prices have been depressed this year. Insiders may be eager to buy these underperforming companies in the hope that things will change next year. , small companies defeat big companies.”

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2023-11-29 06:00:03
#bullish #signal #U.S #stocksCompanies #insiders #buying #shares #large #scale #Anue #Juheng #stocks

November 29, 2023 0 comments

Business

Bank of America warns that U.S. stocks are too enthusiastic, with an inflow of US$40 billion in two weeks, the largest since February last year | Anue Juheng-U.S. Stock Radar

by Chief editor of world-today-news.com November 25, 2023

written by Chief editor of world-today-news.com

As the Christmas holiday approaches, Wall Street banks are telling investors to curb their enthusiasm for stocks.

Bank of America strategist Michael Hartnett said on Friday (24th) that the reverse “buy” signal for stocks has expired weeks after it was triggered.

The analysis team lowered its bull and bear indicator to 1.9 on October 20 from the previous 2.2, which is in the “extremely bearish” zone. When this bull-bear indicator falls below 2.0, a counter-trend buy signal for risk assets is triggered.

But on Friday, the indicator climbed from 1.7 to 2.1 and moved towards the “neutral” territory, as shown below:

Because investors have been fond of the stock market recently, this has pushed up stock prices. According to the latest Flow Show report released by Bank of America on Friday, U.S. stocks saw a two-week weekly inflow of US$40 billion, the largest since February 2022.

Hartnett warned that investors almost collectively believe that “the Federal Reserve (Fed) has finished raising interest rates.” According to a Bank of America survey in November, 80% of fund managers expected an interest rate cut, of which 82% expected inflation to fall and 61% expected bond yields to fall.

The analyst and his team warned,10-Year Treasury Bond YieldIt may make the coming year difficult, with the market at a high risk appetite of 4% to 5%. If it drops to 3% to 4%, it may trigger calls for an economic recession and turn more bearish.

In the latest week ended November 21, $40 billion flowed into cash instruments, with $16.5 billion flowing into equities, $4 billion flowing into bonds, and $700 million flowing intogold。

So far in November, FactSet data shows S&P 500 It has risen 8.6%. If it maintains this level, it will be the index’s largest monthly gain since July 2022.

Last week’s subdued inflation data boosted U.S. stocks and triggered a buying frenzy.S&P 500 Exponential sumNasdaqThe index had its best day since April. Inflation data triggered market expectations and laid the foundation for the stock market to rise at the end of the year.

Not only is Hartnett cautious, Savita Subramanian, head of equity and quantitative strategy at Bank of America, expects S&P 500 The index will close at 5,000 next year, 10% above current levels, in part because there are too many shorts in the stock market who lack conviction and are sitting on piles of cash at odds with AI enthusiasts, fund managers and others.she expected S&P 500 The index reached 4600 points this year, which seems to be more accurate than other peers.

2023-11-25 04:17:42
#Bank #America #warns #U.S #stocks #enthusiastic #inflow #US40 #billion #weeks #largest #February #year #Anue #JuhengU.S #Stock #Radar

November 25, 2023 0 comments

Business

US stocks record their fourth consecutive weekly rise!

by Chief editor of world-today-news.com November 25, 2023

written by Chief editor of world-today-news.com

Wall Street Stock Exchange

US stock indices achieved strong weekly gains during trading in the week ending November 24, for the fourth week in a row, supported by growing market expectations regarding the end of the US monetary tightening cycle, in addition to the rise in some shares of a number of companies listed on the US stock market.

The most important factors affecting the performance of US stocks this week

Risk appetite in the US stock market rebounded strongly this week, as the index stabilized VIX The volatility performance of the US stock market is at its lowest levels since January 2020, and fell by more than 2% this week, reflecting the recovery of investors’ appetite for risk in the stock market.

This recovery was due to many factors, most notably the increasing market expectations regarding the end of the US interest rate hike cycle, as well as the rise in the shares of a number of major companies listed on US stock indices. In the following lines, it can be clarified how the performance of US stocks was affected by these factors:

First: Global stock markets are optimistic about the end of the monetary tightening cycle

Some economic developments that occurred in the US stock market this week have strengthened investor optimism about the US Federal Reserve ending its cycle of raising interest rates and reaching the final interest rate. Therefore, the next step will revolve around when to make the first cut in US interest rates.

In this regard, the data issued in the last week revealed that the manufacturing sector entered the contraction zone, recording about 49.4 points in October, which is less than the record level of 50 points, worse than market expectations, which suggested that the index would decline to 49.9 points, noting that the previous reading of the Purchasing Managers’ Index Manufacturing has stabilized at the level of 50 points, which has negative effects on American economic growth.

At the same time, the durable goods orders index contracted by 5.4% on a monthly basis, which is much worse than expectations that indicated a contraction of the index by only 3.2%, and it is also worse than the previous reading, which recorded a growth of 4.6%, which may lead to… To reduce inflation in the country in the coming period.

In light of these negative data, the US Federal Reserve may not raise the interest rate additionally during its upcoming meetings and keep it at the current level of 5.50%, as a result of the damage to the country’s manufacturing conditions and the possibility that inflation will continue to decline, which has strengthened the upward momentum in the performance of US stocks this week. Especially since the markets now see a 40% chance that the US Federal Reserve will cut interest rates at its May 2024 meeting, according to the Federal Interest Rate Tracking Tool issued by the Federal Reserve Group. CME.

The results of the US Federal Reserve meeting in November were also characterized by a very cautious tone regarding another interest rate hike, as the minutes of the last policy committee meeting indicated that there would be no further increases unless progress against curbing inflation falters, according to what was reported by Reuters news agency.

Second: The rise in the shares of some major companies listed on standard American stock indices

Some stocks listed on the US stock market witnessed many developments that led to their stocks rising at a strong pace, thereby enhancing the weekly US stock profits. The most notable of them can be discussed below:

Vista Outdoor (VSTO.N): The shares of the American design and manufacturing company recorded weekly gains of more than 4%, after the Czech arms manufacturer advanced Colt CZ Group With a merger offer worth approximately $1.7 billion, which may reflect positively on the company’s profits in the future.

IRobot (IRBT.O)The American technology company’s stock jumped by about 36% during this week’s trading, after reports indicated that Amazon had obtained European Union approval for its acquisition of the technology company for a value of up to $1.4 billion, which could lead to an increase in any robot’s profits and revenues in the coming period.

Xpeng Inc: The shares of the Chinese company listed on the US stock market achieved weekly profits of more than 10%, after the Volkswagen automaker announced its intention to develop a new platform for electric cars for beginners in China, which will design electric cars in accordance with the tastes of consumers in China in terms of the battery and the electric motor.

How was the weekly performance of US stocks affected by these developments?

As a result of the mentioned positive factors, the weekly profits of the index were estimated S&P 500 By about 1%, or the index’s gains increased by approximately 45 points, as the index recorded Dow Jones The industrial sector gained profits amounting to about 442 points, or 1.27%, and also, the gains of the index amounted to Nasdaq 100 The weekly rate rose about 0.91%, meaning it rose by 144 points during the trading week ending.

2023-11-25 17:23:09
#stocks #record #fourth #consecutive #weekly #rise

November 25, 2023 0 comments

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