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The main US stock indices were mixed on Wednesday (23). The Dow Jones industrial average rose 143 points or 0.53%, the S&P 500 index rose 0.08% and the Nasdaq index and the fiscal index fell 0.39% and 0.16% respectively. The US dollar index rose to a 2-month high and gold fell below the $ 1,900 barrier.
After the United Kingdom announced the restart of epidemic prevention and control measures, the President of the United States, Trump, emphasized on Tuesday (22) that the United States would not follow up. As a result, aviation and cruise stocks increased and the market opened on Wednesday. American Airlines (AAL-US), United Airlines (UAL-US), Delta Air Lines (DAL-US) were up more than 2% and Carnival (CCL-US) were up 3.3%.
Furthermore, under the struggle of large-scale tech stocks, overall market earnings compressed and FAANG stocks declined at the open.
In the news, the U.S. House of Representatives passed the timely spending bill with 359 votes to 57 votes on Tuesday night, and the federal government will continue to operate until December 11 to avoid a close October 1.
The Speaker of the House of Representatives (Nancy Pelosi) announced an agreement with the Secretary of the Treasury of the United States, Steven Mnuchin, on a resolution of continued appropriation, which includes agricultural subsidies promoted by the Republican Party and subsidies to infant nutrition during the epidemic on the part of the Democratic Party.
Fed Chairman Bauer will testify in Congress on Wednesday (23) at 22:00 pm Taipei time, while Vice President Randal Quarles plans to testify on Thursday (24) at 2 am Taipei time. : 00 Comment on the outlook for the banking industry.
Starting at 9 p.m. on Wednesday (23) Taipei time:
- The Dow Jones Index rose 143.82 points, or 0.53%, temporarily to 27,432.00 points.
- Nasdaq fell 43.09 points, or -0.39%, temporarily to 10,920.54 points.
- The S&P 500 was up 2.78 points, or 0.08%, to 3,318.35 points temporarily
- Commissions and media fell 3.54 points-0.16%, temporarily to 2,176.72 points
- TSMC ADR fell 0.93% to $ 79.74 per share
- Yield on 10-year US Treasuries increased to 0.676%
- New York light crude oil rose 0.28% to $ 39.91 a barrel
- Brent crude rose 0.38% to $ 41.88 a barrel
- Gold fell 1% to $ 1,888.60 an ounce
- The US dollar index rose 0.17% to 94.175 points
Focus actions:
Nike (NKE-US) rose 10.02% in early trading to $ 128.58.
Q1 (ended Aug 31) Based on key GAAP data:
- EPS: 95 cents a share vs. 47 cents a share (Refinitiv forecast)
- Revenue: $ 10.59 billion vs. $ 9.15 billion per share (Refinitiv forecast)
- Net profit: US $ 1,520 million
- Online sales: an annual increase of 82%
Johnson & Johnson (JNJ-US) was up 1.78% in early trading to $ 146.77.
Johnson & Johnson announced on Wednesday (23) that the company’s third phase of testing the new corona virus vaccine was launched on September 21. After Moderna, Pfizer and AstraZeneca, it is the endorsement of the Trump administration’s “Quick Action for Curvature”. Among the developers, the fourth drug maker to enter the last stage of vaccine trials.
The National Institute of Allergy and Infectious Diseases (NIAID) noted that the trial will recruit 60,000 adult volunteers in 215 countries and regions, including the United States. The trial will randomly select participants to receive a certain dose of possible vaccine or placebo.
Shopify (SHOP-US) fell 1.08% in early trading to $ 943.97.
The e-commerce giant Shopify said on Tuesday (22) that some of the merchant data on the platform was stolen and a total of 200 online stores are expected to be affected.
According to foreign media reports, Shopify alleged that two company employees were suspected of stealing data from nearly 200 stores, and that consumer data related to merchants was also affected. Today, the company has cooperated with investigative agencies such as the FBI to carry out in-depth investigations and has fired the employees involved. .
Daily key economic data:
- Markit Manufacturing PMI initial value in the United States in September reported 53.5, expected 52.5, previous value 53.1
- US Markit Service Industry PMI Baseline Reported 54.6, Expected 54.5, Previous Value 55.0
- The initial value of Markit’s comprehensive PMI in the US in September was 54.6 and the previous value was 54.6
- At 22:30 Taipei time, last week the rise and fall of crude oil inventories from the EIA will be announced, the previous value increased by 2.033 million barrels.
Wall Street Analysis:
Lance Roberts, chief strategist at RIA, said short-term bearish sentiment in the US stock market has intensified and some technical indicators have oversold in the short term.
Roberts believes that the next market may gradually show signs of outperformance, mainly reflected in three aspects, namely weak market trading, long-term resistance failure, and overly optimistic expectations.
Senior tech analyst Gene Munster believes big tech stocks are on the cusp of major market shifts. He expects FAANG’s shares to diverge. Apple, Amazon, and Google will rise, and Netflix and Facebook will fall. It can be attributed to the ability to adapt to the epidemic, and companies with outstanding performance will further expand their business.
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