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On Tuesday (15), crude oil rose, the US dollar was almost flat and financial stocks fell. Apple has converged earnings since the fall conference. All four major US stock indices rose simultaneously. S&P closed in the red for the third consecutive trading day and TSMC’s ADR increased by more than 6%, leading the half-rate index to increase by more than 1.7%.
The new round of the stimulus plan remains stalled and House Speaker Pelosi said she will not support the “lose weight” stimulus bill introduced by the Republican Party.
In the United States and China, the World Trade Organization (WTO) ruled that the Trump administration imposed tariffs on Chinese goods worth more than $ 200 billion in 2018, violating global trade rules.
In response to the latest statement from the Ministry of Commerce, China expressed its appreciation for the objective and fair decision made by the expert group. The US government’s response will not have an impact on the Phase 1 agreement between the United States and China, but the WTO is “completely inadequate” to effectively prevent China’s actions against the United States.
The global epidemic of new corona pneumonia (COVID-19) continues to spread. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide exceeded 29.3 million and the number of deaths exceeded 929,000. More than 6.55 million cases were diagnosed and the cumulative number of deaths reached 194,000.
Tuesday (15) the performance of the four main US stock indices:
- The Dow Jones Index rose 2.27 points, or 0.01%, to close at 27,995.60 points.
- The S&P 500 Index rose 17.66 points, or 0.52%, to close at 3,401.20 points.
- The Nasdaq index rose 133.67 points, or 1.21%, to close at 11,190.32 points.
- The Philadelphia Semiconductor Index rose 37.44 points, or 1.72%, to close at 2,219.19 points.
Eight of the 11 S&P sectors rose, led by communications services, real estate and consumer discretionary, while consumer staples, financials and energy led the decline. (Image: Finviz)
Five big tech giants collectively received red. Apple (AAPL-US) rose 0.16%; Microsoft (MSFT-US) was up 1.64%; Amazon (AMZN-US) rose 1.71%; Alphabet (GOOGL-US) was up 1.74%; Facebook (FB-US) rose 2.36%.
The constituent shares of Dow Jones were mixed. Caterpillar (CAT-US) fell 3.20%; JPMorgan Chase (JPM-US) fell 3.11%; Salesforce (CRM-US) was up 2.04%; Traveler (TRV-US) fell 2.02%; Dow Chemical (DOW-United States) rose 1.96%.
Only Marvell finished lower. Micron (MU-US) was up 0.04%; NVIDIA (NVDA-US) was up 0.92%; AMD (AMD-US) was up 1.32%; Intel (INTC-US) rose 1.19%; Qualcomm (QCOM-US) was up 2.75%.
ADR for Taiwan stocks rose sharply following the launch of new Apple products. TSMC ADR (TSM-US) was up 6.67%; UMC ADR (UMC-US) was up 6.67%; ASE ADR (ASX-US) rose 3.15%; Chunghwa Telecom ADR (CHT-US) was up 0.46%.
Apple announced that the fourth-generation Apple iPad Air is the first Apple product to use a 5-nanometer A14 chip, which is optimistic news for TSMC.
Real World Technologies analyst David Kanter said this is the first time we’ve had the opportunity to look at the impact of TSMC’s 5nm process. I want to know how much performance improvement comes from the new TSMC technology. How much comes from Apple’s chip architecture?
Featured Stock News
Apple (AAPL-US) was up 0.16% to $ 115.54 a share. The company released a series of new hardware and software to heat up the iPhone 12 due out next month.
New products include Apple Watch Series 6, Apple Watch SE, 8th generation iPad, new iPad Air and fitness + sports services, Apple One pairing services.
Tesla Battery Day (TSLA-US) will take place on the 22nd of next week, and the company soared 7.18% to $ 449.76 per share.
Kraft Heinz (KHC-US) rose 0.31%. The company plans to cut costs by $ 2 billion over the next five years. The company also announced that it will sell its natural cheese business to Groupe Lactalis for US $ 3.2 billion.
The SEC is investigating news from short-seller Hindenburg Research about electric truck maker Nikola (NKLA-US) Nikola fell 8.27%.
Economic data
- The New York Fed September Manufacturing Index reported 17%, expected 4.4%, previous value 3.7%
- The monthly growth rate of US industrial production in August recorded 0.36%, which is expected to be 1.0% and 3.0% earlier.
Wall Street Analysis
Frank Cappelleri, CEO of Instinet, said: “The market is doing everything possible to show that buying in jumps is still a fad. The market will continue to participate widely, which is the most critical feature to keep the market moving.”
Jerry Braakman, chief investment officer at First American Trust, said: “The market is trying to figure out what to do next. At this point, everyone will always see volatility and wonder if this tech boom will continue.”
Wall Street is still awaiting the results of the Federal Reserve Committee’s (Fed) two-day interest rate policy meeting on Wednesday.
Andrew Smith, director of investment strategy at Delos Capital Advisors, said: “We believe that the Federal Reserve will stimulate inflationary promises, which can lead to sharp fluctuations in interest rates, which in turn will affect share prices. “.
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