On Tuesday (4th) Australia’s central bank unexpectedly raised interest rates by just 1 yard and the number of U.S. job vacancies in August fell to a 14-month low, showing signs of slowing labor demand. reigniting hopes that the Federal Reserve will turn to a more moderate rate hike, the major US equity index continued its rebound on Tuesday,Dow JonesIt climbed over 820 points and successfully recovered the 30,000 point mark, marking the longest streak of over 2% gains since May 2020.
Energy stocks led gains on Tuesday, ahead of a meeting between the Organization of the Petroleum Exporting Countries and its partners (OPEC +) on Wednesday, the market said OPEC + could consider reducing oil production. 2 million barrels per day, more than – expected production cut.
US bond yields continued to decline, pushing tech stocks higher, with Microsoft and Alphabet up more than 3%. At the same time, Musk’s lawyers sent a letter to Twitter confirming Musk’s willingness to maintain the original purchase price, skyrocketing Twitter’s share price and closing spikes by more than 22%.
The global epidemic of novel coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases worldwide exceeded 619 million and the number of deaths exceeded 6.54 million. More than 12.7 billion doses of the vaccine have been administered in 184 countries around the world.
On Tuesday (4th) the performance of the four main US equity indices:
- US stocksDow JonesIt was up 825.43 points, or 2.8 percent, to finish at 30,316.32.
- NasdaqThe index was up 360.97 points, or 3.34 percent, to close at 11,176.41.
- S&P 500 IndexIt was up 112.5 points, or 3.06 percent, to finish at 3,790.93.
- Semiconductor of PhiladelphiaThe index rose 106.8 points, or 4.46 percent, to close at 2,500.1.
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The five kings of science and technology are like rainbows. apple (AAPL-USA) increased by 2.56%; Half (META-US)) increased by 1.20%; Alphabet (GOOGL-US) increased by 3.04%; Amazon (AMZN-USA) increased by 4.50%; Microsoft (MSFT-USA) increased by 3.38%.
Dow JonesThe constituents are unstoppable. Boeing (BA-US) increased by 5.92%; Salesforce (CRM-USA) rose by 5.29%; Goldman Sachs (GS-USA) rose by 5.25%; JPMorgan Chase (JPM-USA) increased by 4.68%; the development of heavy industry (CAT-US) increased by 4.91%.
half shareConstituent stocks closed higher. Wolfspeed (WOLF-US) rose by 8.92%; Applied materials (AMAT-USA) increased by 3.66%; AMD (AMD-USA) increased by 2.71%; Qualcomm (QCOM-USA) rose by 4.39%; Texas Instruments (TXN-USA) increased by 3.32%; Intel (INTC-USA) increased by 2.71%; Micron (MU-USA) increased by 4.33%; NVIDIA (NVDA-USA) increased by 5.23%.
apple (AAPL-USA) rose 2.56 percent to $ 146.10 per share. On Tuesday the European Parliament approved the new rules with 602 votes in favor, 13 against and 8 abstentions. From autumn 2024 Type C (USB-C) will become a unified charging method for all smartphones, tablets and photo cameras in the EU. of junction.
Less than two weeks before the acquisition process, Musk sent a letter to Twitter on Tuesday stating that Musk was willing to continue completing the Twitter acquisition at the original offer of $ 54.20 per share. Motivated by this news, Twitter (TWTR-USA) was suspended several times during the session and closed up 22.24% at $ 52.00 per share, the highest since November last year.
Tesla’s rival, the electric car startup Rivian (RIVN-USA) was up 13.83% to $ 36.30 per share. Rivian announced that it produced 7,363 vehicles in the third quarter of this year and delivered 6,584 vehicles, maintaining the projected annual production of 25,000 vehicles.
General Motors (GM-USA) was up 8.91% to $ 35.80 per share. GM’s third-quarter sales in the US market increased 24 percent to 555,580 vehicles. GM not only achieved double-digit growth, but also outperformed its first Japanese sibling Toyota.
Memory giant Micron (MU-USA) received a dividend of 4.33% at $ 53.96 per share. Micron plans to invest up to $ 100 billion over the next 20 years to build a new facility in Clay, New York.This so-called largest semiconductor manufacturing facility in the U.S. is expected to begin construction preparations next year, begin construction in 2024, and start in 2025. put into production.
- The monthly growth rate of US durable goods orders in August was revised to -0.2%, the previous value was -0.2%
- US factory order monthly growth rate in August was 0%, expected 0.2%, former value – 1%
- The number of JOLT job vacancies in the US in August was 10.053 million, an estimate of 10.775 million and the previous value of 11.17 million
Wall Street Analysis
Jeffrey Roach, chief economist at LPL Finance, believes widening regional disparities could complicate domestic monetary policy, however, the Fed is still on track to raise interest rates by another 3 yards next month.
Michael Brown, a strategist at CaxtonFX, said: “The Fed now only has the goal of reducing inflation to 2% and unless inflation data improves for several months, it is difficult to imagine a turnaround in the economy. Fed accommodating. A 3-yard rate hike from the Fed next month is still my base case. It’s hard to be bullish on stocks in that scenario. “
Neil Dutta, chief of economics at Renaissance Macro Research, said: “In short, we are starting to see some things the market is talking about like a dove, but I don’t think that’s enough to stop another 3-yard rate hike in. November, all eyes are on Friday, non-farm payrolls.
Lindsey Bell, Ally’s chief market and currency strategist, said: “Market expectations are for a ‘Goldilocks’ economic report that is neither too hot nor too cold.”
The data is updated before the deadline, please refer to the actual quotation.