Corporate financial reports and economic data are mixed. The four major indexes closed up and down mixed |

Corporate financial reports and economic data are mixed. The four major indexes closed up and down mixed |
Corporate financial reports and economic data are mixed. The four major indexes closed up and down mixed |

In the context of high inflation and high interest rate pressures, corporate financial reports and economic data are mixed, making investors unwilling to take more risks, especially after the stock market soared. The four major US stock indexes closed on Tuesday (24th) The gains and losses were mixed. Among them, the Dow Jones closed up more than 100 points or nearly 0.3%, and the Nasdaq closed down more than 30 points or nearly 0.3%. Microsoft (MSFT-US) Although its cloud business performed well, its profit in the last quarter was slightly better than expected, supporting its share price to rise after hours, but then turned down.

The four major U.S. stock indexes were mixed on Tuesday. The Dow closed up more than 100 points, or nearly 0.3%, rising for the third consecutive trading day. The S&P 500 closed down nearly 0.1 points, and the FX closed down more than 20 points Or nearly 0.7%.

Although Microsoft’s profit in the last quarter was better than expected, it boosted the stock prices of cloud computing companies such as MongoDB Inc (MDB-US), Datadog Inc (DDOG-US), and Snowflake (SNOW-US) after hours. Meanwhile, chip maker Texas Instruments (TXN-US) closed down nearly 0.5 percent, extending gains after last quarter’s earnings report showed the company’s first sales decline since 2020 and a lackluster forecast. Closing sluggish.

The S&P 500 traded sideways ahead of tech earnings and traders were weighing data from several other bellwether companies. The Dow Jones Transportation Average fell. The largest U.S. railroad company, Union Pacific (UNP-US), announced a disappointing quarterly earnings report before the market, but its stock price still edged up 0.2% after hours; post-it maker 3M (MMM-US) US)’s financial forecast was lower than expected and it said it planned to lay off employees. The closing stock price fell more than 6%; the US homebuilder Horton (DR Horton) (DHI-US) announced before the market that its last quarter earnings report was better than expected, and the closing stock price Up nearly 1.4%.

In terms of economic data, the initial value of the U.S. service industry and manufacturing purchasing managers’ index (PMI) in January improved from the previous value, but overall business activity was in the shrinking range for the seventh consecutive month. It is worth noting that the input price inflation indicator in the data items rose for the first time since May last year, showing that inflationary pressures are still there.

S&P Global Chief Business Economist Chris Williamson (Chris Williamson) said that the U.S. economy will start 2023 with a disappointingly weak start, with business activity shrinking at the fastest rate since the 2008 financial crisis, and signs of recession are becoming more and more obvious.

Wall Street’s main indexes rallied despite a poor start to the earnings season and more signs that the U.S. economy is slowing, with some investors hoping the reports would give the Federal Reserve a boost when it meets next week. Policy adjustments provide support.

Money market traders believe the Fed will only raise rates twice by June, each by the “more traditional” 1 yard (25 basis points), before starting to cut rates later this year. Around 5%.

In other news, the New York Stock Exchange experienced technical failures in early trading on Tuesday, and many stocks fell sharply during the session. Stocks affected include Morgan Stanley (MS-US), Wells Fargo (WFC-US), Verizon (VZ-US), AT&T (T-US), Nike (NKE-US) and McDonald’s (MCD-US) Wait. There were at least 40 stocks affected by this suspension of trading, which fell by at least 12% at the opening. However, the system returned to normal 20 minutes after the market opened, and the NYSE stated that affected transactions can apply for compensation.

The global new crown pneumonia (COVID-19) 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 soared to nearly 670 million, and the number of deaths has exceeded 6.74 million. More than 13.2 billion doses of vaccines have been administered in 184 countries around the world.

The performance of the four major US stock indexes on Tuesday (24th):
  • The Dow Jones Industrial Average rose 104.40 points, or 0.3%, to close at 33,733.96 points.
  • The Nasdaq Composite fell 30.14 points, or 0.27%, to close at 11,334.27.
  • The S&P 500 fell 2.86 points, or 0.07%, to close at 4,016.95.
  • The Philadelphia Semiconductor index fell 21.09 points, or 0.72%, to close at 2,913.74.
The 11 sectors of the S&P 500 Index were mixed, among which telecom services and health care fell more than 0.6%, the worst performers, energy and optional consumption fell about 0.2%, information technology/technology stocks fell nearly 0.1%, daily consumer goods, real estate And utilities rose about 0.4 percent, with industrials the best performers, up more than 0.6 percent. (Picture: finviz)
Focus stocks

The five kings of science and technology, Apple, are thriving. Apple (AAPL-US) rose 1.01%; Alphabet (GOOGL-US) fell 2.09%; Amazon (AMZN-US) fell 1.23%; Microsoft (MSFT-US) fell 0.22%; Meta (META-US) fell 0.09%.

Dow components were mixed. Kintor Heavy Industries (CAT-US) up 1.94%; Boeing (BA-US) up 0.96%; Disney (DIS-US) up 0.29%; McDonald’s (MCD-US) up 0.1%; Goldman Sachs (GS-US) down 0.23% ; Nike (NKE-US) fell 1.14%; 3M (MMM-US) fell 6.21%.

Almost all of Feiban’s constituent stocks fell. Broadcom (AVGO-US) up 0.58%; NVIDIA (NVDA-US) up 0.38%; Qualcomm (QCOM-US) down 0.25%; Texas Instruments (TXN-US) down 0.63%; ASML (ASML-US) down 0.89%; Micron (MU-US) fell 0.91%; Applied Materials (AMAT-US) fell 1.02%; Intel (INTC-US) fell 1.16%; AMD (AMD-US) fell 2.39%.

Among Taiwanese ADRs, only Chunghwa Power received dividends. TSMC ADR (TSM-US) fell 1.15%; ASE ADR (ASX-US) fell 0.67%; UMC ADR (UMC-US) fell 1.88%; Chunghwa Telecom ADR (CHT-US) rose 0.29%.

Corporate News

Alphabet (GOOGL-US), the parent company of Google, the leading search engine, fell more than 2% on Tuesday, closing at US$97.70 per share, and continued its downward trend after hours. The United States Department of Justice on Tuesday formally sued Google for illegally monopolizing the digital advertising market for eight weeks, and seeks to break up Google’s digital advertising technology business. The move is a rare request by the Justice Department since it broke up Nokia Bell Labs in 1980. The Department of Justice pointed out that Google has brought obvious harm, and that it may be able to eliminate opponents only by setting the rules of the game, and mentioned that Google executives once compared the company’s situation to Goldman Sachs (GS-US) owning the New York Stock Exchange.

Ford Motor ( F-US ) shares edged down 0.5% on Tuesday to close at $12.74 per share. The Wall Street Journal reported, citing people familiar with the matter, that the company is in talks with Chinese electric car maker BYD (002594-CN) (1211-HK) to sell its Saarlouis plant in Germany, whose car production is scheduled to end in 2025. Separately, Ford said on Tuesday that it intends to decide by mid-February how many jobs it will cut in Europe after announcing it will cut 3,200 jobs at a plant in the German city of Cologne.

Johnson & Johnson (JNJ-US) shares closed down 0.2% on Tuesday, at $168.31 per share. Johnson & Johnson on Tuesday forecast 2023 adjusted profit of $10.45 to $10.65 a share, topping analysts’ median estimate of $10.35 a share, as growth in its cancer treatment drug Strong demand for drugs such as Darzalex is expected to ease pressure from inflation and a stronger dollar. Johnson & Johnson reported revenue of $13.16 billion last quarter, beating Wall Street analysts’ average estimate of $13.14 billion.

The stock price of sportswear brand Lululemon (LULU-US) fell 1.54% on Tuesday to close at $311.21 per share, and fell nearly 0.4% after the market. Wall Street investment bank Bernstein downgraded the stock, warned that apparel stocks will usher in a valuation reset, and pointed out that Lululemon’s positive growth is facing a turning point.

Advanced Micro Devices (AMD-US) shares fell 2.39% on Tuesday to close at $74.7 per share, and fell nearly 0.5% after hours. The stock weakened on the day after Wall Street investment bank Bernstein downgraded AMD stock to “market perform” from “outperform.” Bernstein said the downgrade was due to declining computer sales and demand for new components in an inflationary environment.

Economic data
  • The initial value of the U.S. manufacturing PMI in January was 46.8, expected 46, and the previous value was 46.2
  • The initial value of the U.S. service industry PMI in January was 46.6, expected 45, and the previous value was 44.7
  • U.S. composite PMI initial value reported at 46.6 in January, expected 47, previous value 45
Wall Street Analysis

Jerry Braakman, chief investment officer of First American Trust, said that investors are predicting the end of the Fed’s tightening monetary policy and trying to find the bottom in the US stock market and a new round of bull market rebound. However, considering the deteriorating economic data, this move seems a bit premature.

Victoria Fernandez, chief market strategist at Crossmark Global Investments, said that this week’s earnings reports from US companies are mixed, and US stocks are expected to fluctuate within a narrow range, as the market will digest the latest remarks on interest rates, inflation and the macro environment.

Comerica Bank chief economist Bill Adams wrote in a report that US real GDP growth may turn negative in the first half of this year, but the economy may still avoid a recession. Yet many indicators of financial and economic data that economists use to predict business cycle turning points suggest a recession is more likely to occur in the near term.

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


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