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Although the Fed announced at the interest rate meeting on Wednesday (29) that the benchmark interest rate broker would remain unchanged from 0% to 0.25%, boosting market sentiment, as announced by the United States on Thursday. (30) China’s economic data was not as expected, prompting US stocks to open higher yesterday, all four major indices fell and the Dow Jones index fell more than 300 points at the open.
Although US stocks showed a downward trend on Thursday (30), the overall performance of the stock market in April was quite impressive. At the close of Wednesday, the S&P 500 Index rose more than 13% this month, the largest single-month increase since 1974, and the Dow Jones Index rose 12%, the largest single-month increase since 1987.
New outbreak of coronary pneumonia
The cumulative number of diagnosed cases in the United States has exceeded 1.03 million. Gilead’s flagship drug “Red West” announced positive test results on Wednesday (29) and ignited Wall Street’s hopes. United States President Trump has asked the FDA to speed up approval of the drug.
Additionally, United States President Trump said that the current social distance guidelines will not extend after Thursday’s expiration (30), and White House senior consultant Jared Kushner said the United States economy it is before july. It can be rejuvenated.
US economic data USA
The United States Department of Labor announced on Thursday (30) that the number of claims for unemployment benefits at the beginning of the week ending April 25 was reported at 3,839 million, more than the market estimate of 3.5 million. In the past six weeks, the total number of initial unemployment benefits in the United States has exceeded 30 million.
Furthermore, due to declining consumer demand due to social distance and blocking measures, personal spending in the United States sharply decreased by 7.5% in March.
Starting Thursday, Taipei (30) at 22:00:
- The Dow Jones index fell 314.37 points or -1.28%, temporarily reported 24319.49 points
- Nasdaq fell 14.12 points or -0.16%, temporarily reported 8900.59 points
- S&P 500 fell 23.03 points or -0.78%, temporarily reported at 2916.48 points
- The fees and a half fell in 21.70 points or -1.21%, temporarily reported in 1776.06 points
- TSMC ADR fell 0.40% to $ 54.18 per share
- The performance of the US Treasury. USA At 10 years it fell to 0.6%
- New York light crude rose 15.47% to $ 17.39 a barrel
- Brent crude rose 8.34% to US $ 26.25 per barrel
- Gold rose 0.01% to $ 1,713.60 per ounce
- The US dollar index rose 0.03% to 99,677 points
Focus actions:
Facebook (FB-USA)
Facebook rose 7.40% in early trading to hit $ 208.34.
Facebook announced financial results for the first quarter of fiscal year 2020 after the market on Wednesday (29). Facebook’s first-quarter revenue increased nearly 18% to $ 17.74 billion annually, which was better than market expectations. Advertising revenue was affected by the pneumonia epidemic. Monthly decline, but there are signs of stabilization in the first three weeks of April. Facebook doubled its net profit in the first quarter, but diluted EPS of $ 1.71 was not as good as market expectations.
Q1 Key data from the financial report
- EPS: USD 1.71 vs. USD 1.75 (analysts surveyed by Refinitiv are expected)
- Net profit: $ 4.9 billion
- Revenue: $ 17.74 billion versus $ 17.41 billion (analysts surveyed by Refinitiv were expected)
- Operating profit rate: 33%
- Daily Active Users (DAU): 1.73 billion people
- Monthly Active Users (MAU): 2.6 billion people vs. 2.55 billion people (FactSet survey analysts expect)
McDonald’s (DCM-USA)
McDonald’s fell 2.49% in early operations to $ 183.33. A
McDonald’s announced financial results for the first quarter of fiscal year 2020 on Thursday (30). Due to the impact of the pneumonia epidemic, the restaurant industry was forced to close. McDonald’s first-quarter earnings dropped sharply 17% to $ 1.11 billion, earnings per share was $ 1.47, down from $ 1.72 in the same period last year, and more lower than the market estimate of $ 1.57.
Additionally, McDonald’s first-quarter revenue was reported at $ 4.71 billion, a 6% decrease from the same period last year, but still greater than the estimated market value of $ 4.65 billion. of dollars. In addition, sales in the same store in the first quarter decreased by 3.4%. Due to the growing operational uncertainty of the epidemic, McDonald’s has withdrawn its financial forecast for the entire year 2020.
Twitter (TWTR-US)
Twitter fell 7.37% in early trading to hit $ 28.80.
Twitter announced on Thursday (30) the financial results for the first quarter of fiscal year 2020. Although the market is concerned that the epidemic will affect the company’s advertising business, Twitter’s income and earnings in the first quarter are still higher. Expected First quarter revenue reported $ 808 million, an increase of 3% over the same period last year, and was above the market estimate of $ 776 million. Earnings per share were $ 0.11, higher than the market estimate of $ 0.10.
In addition, the average daily active user reported 166 million people, an increase of 24% over the same period last year, and higher than the market estimate of 164 million people. Additionally, due to the increased uncertainty caused by the epidemic, Twitter did not provide financial forecasts for the second quarter and the full year. The company originally planned to build a new data center, but has now postponed the plan and is expected to have an impact on capital spending in 2020.
Key economic data for today:
- As of 4/25, the United States reported unemployment benefits (10,000 people) at the beginning of the week at 383.9, estimated at 350, and the previous value was 442.7
- As of 04/25, the United States reported the four-week average of unemployment benefits (ten thousand people) at 503,325, the previous value was 578.6
- In March, the annual growth rate of the PCE price index in the United States reported 1.3%, with an estimate of 1.4%, and the previous value was 1.8%.
- United States March PCE Price index Monthly growth rate report -0.1%, Estimate -0.3%, Previous value 0.1%
- The annual growth rate of the PCE basic price index in the United States in March was reported at 1.7%, estimated at 1.5%, and the previous value was 1.8%
- The monthly growth rate of the PCE basic price index in the United States in March was -0.1%, the forecast was -0.1% and the previous value was 0.2%
- The monthly rate of increase of personal spending in the United States in March was -7.5%, estimated -4.2%, the previous value was 0.2%
- US Monthly Personal Income Growth Rate USA Reported in March -2.0%, estimated -1.5%, previous value 0.6%
Wall Street Analysis:
Barclays economist Michael Gapen estimated that the unemployment rate in the United States in April may rise to 19%. He said the original government-implemented paycheck protection (PPP) program was intended to help companies pay employee wages and protect job opportunities, but the results were not as good as expected. .
Currently, half of the S&P 500 companies have released the financial report for the first quarter of 2020. Scout earnings analyst Nick Raich said the market believes the most serious earnings forecast cut will occur in the second quarter, and when 7 When the company announced its second-quarter earnings in March, most of its downside risks have been reflected.
Gilman Hill Asset Management CEO Jenny Harrington also said that the current market uncertainty has gradually decreased.
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