Topic: A shares are expected to usher in the inflection point in the third quarter.
In the early morning of Beijing time, the US stocks closed slightly on Tuesday, and the S & P 500 index and Na index hit a record high.The AI boom has promoted Nvidia to rise, and its market value exceeds the company with the largest market value in the world.The increase in retail sales in the United States in May is lower than expected.The market pays attention to the speech of many Federal Reserve officials, especially the remarks on monetary policy paths.
The Dow rose 56.76 points, an increase of 0.15%, to 38834.86 points; the NANPO rose 5.21 points, an increase of 0.03%, at 17862.23 points; the S & P 500 index rose 13.80 points, an increase of 0.25%to 5487.03 points.
As of the closing on Tuesday, the Nasda Index has reached a record high for the seventh consecutive trading day.
Wednesday (June 19) is the June holiday in the United States (Junetenth National Independence Day (also known as June Independence Day), US stocks and other US financial markets will be closed.
Nvidi reached the largest company in the market value of US stocks
The artificial intelligence (AI) boom is endless, and Nvidia's unstoppable rise has pushed the market value of this semiconductor giant exceeded the large technology industry, and let it stabilize the throne of the world's most valuable company.
RosenBlatt Securities Analyst Hans Mosesmann adjusted the target price of this chip manufacturer from $ 140 to $ 200 to the Wall Street high.
Nvidia rose 3.5%on Tuesday, and the market value rose to US $ 3.335 trillion, surpassing Microsoft and harmony.These large -cap stocks have been chasing me to win the championship recently, and Nvidia ultimately win.
Earlier this month, Nvidia's market value surpassed Apple for the first time since 2002, and then these two companies have risen alternately in recent days.Just last week, Apple also replaced Microsoft, and stood the global market value rankings for a short time.
This ranking once again shows that artificial intelligence is the primary focus of many investors.Nvidia is regarded as the biggest and earliest beneficiary of this technology, because the company occupies the market leading position with the highly sought -after chip.
"We believe that the science and technology industry's competition for the $ 4 trillion market value in the next year will be the front line and focus between Nvidia, Apple and Microsoft," Daniel Ives, an analyst of Wedbush Securities, wrote in the report.
CFRA Research chief investment strategist Sam Stovall said: "Investors basically believe that the current trend is my friend, until it endsChennai Stock. At present, they have not really seen anything that will lead to this upward trend."
Jameson Coombs, an economist of West Pacific, said: "Optimistic emotions for economic toughness, corporate profits, and potential interest rate cuts have supported the stock market, although people are worried that the rise is mainly concentrated in a few large technology stocks."
Although the major U.S. stock indexes continued to reach a record high, Marko Kolanovic, a large Wall Street and a chief global market strategist, did not change its pessimistic position.However, Kolanovic provides investors with a "possibly good" scene, which will prevent its pessimistic predictions from being reality.
Kolanovic expects the target level of the S & P 500 index at the end of 2024, which means that the index may fall 23%compared with the current level, which is also the lowest target of Wall Street.
Kolanovic said in a report on Monday: "The reason why we take a cautious position is because we believe that there is no upward space for U.S. stocks, and any upward space must come from profit growth.Profit growth is not enough to bear stock risks. "
According to data from the Institute of Investment (WFII), although investors strongly look forward to the Federal Reserve interest rate cuts, history shows that the decline of the S & P 500 index may occur at the same time as the startup cycle.
Austin Pickle, an investment strategy analyst at the institute, draws the return rate of the S & P 500 index in a report on Monday, and the number of days from the Federal Reserve for the first time to the number of days between the index low in the subsequent low.
Austin Pickle found that the average decline of the index was about 20%since 1974, within 250 days after the Federal Reserve's first rate cut.He said: "In other words, investors should not equate interest rate cuts with the signal of the alert of the stock market."
Retail sales data in May is lower than expected
The US Department of Labor reports that due to the decline in gasoline and automobile prices, the income of gas stations and car dealers has declined, and the increase in retail sales in the United States in May is lower than expected.Retail sales in May increased by 0.1%month-on-month, and the data in April was repaired at -0.2%.
In recent months, retail sales have been distorted due to the early resurrection festival.Nevertheless, due to the rise in prices and interest rates, the trend of sales growth has slowed down because of the rise in prices and interest rates to take priority to consider living necessities and reduce expenditures for free control.
As low -income borrowers are becoming more and more difficult to repay loans, banks are also tightening credit.Although the labor market is still stable, it has become difficult to find new jobs to find new jobs quickly, and wage growth is also slowing.The retail sales control team, which does not include automobiles, gasoline, building materials and food services, has increased by 0.4%.
Another data shows that industrial output in the United States increased by 0.9%month -on -month, with an expected 0.30%, and 0.00%before.The U.S. capacity utilization rate was 78.7%in May, 78.60%expected, and 78.40%before.The output of manufacturing in the United States increased by 0.9%month-on-month, with an expected 0.30%, and the previous value -0.30%.
The U.S. Congress Budget Office (CBO) announced on Tuesday that the US budget deficit forecast value of the US budget in the fiscal year has raised a new alarm bell to the federal borrowing before $ 27%to nearly 2 trillion US dollars.
The CBO is expected to be US $ 1.92 trillion in fiscal year in fiscal year, higher than 1.69 trillion US dollars in fiscal 2023.
The latest forecast is more than 400 billion US dollars higher than the forecast in the February report of the CBO, partly reflecting the additional expenditures that have been implemented later, including assistance to Ukraine, and government loan reduction measures for student loans.
In the financial forecast based on the financial outlook, the CBO has raised the forecast of economic growth and inflation.The expectations of the Federal Reserve ’s interest rate reduction from the February Report Forecast of 2024 will be postponed to the first quarter of 2025.
Many Federal Reserve officials urged to be patient with interest rate cuts
The market is closely concerned about the speeches of many Federal Reserve officials. These officials include John Williams, president of the New York Federal Reserve Bank, and Susan Collins, the president of Boston Federal Reserve, and the Fed Manchu President Tom Balkin (Tom Barkin) and so on.
The New York Federal Reserve Williams said that the US economy is "moving towards the right direction", but he refuses to disclose when it will be reduced.Williams said: "Some very good signs show that the supply and demand is balancing."
He also said that any decision to relax policies on the Fed will depend on the quality of economic data.He expects that the inflation rate in the United States will continue to decline this year.
Balkin, President of the Federal Reserve Bank, said on Tuesday that he would not consider changing interest rates before he saw the inflation continues to fall to the 2%annual goal of the Federal Reserve.He also said that it may be reasonable to press the soldiers once in the future.
Balkin pointed out that the inflation in the service inflation index is still stubborn, and the price of commodity has cooled.In addition, housing and living inflation are also stubborn.At the same time, the data of the employment market is healthy, but there are also some worrying signs.
Adriana Kugler, the Federal Reserve, said that if the economy develops as expected, the interest rate cut at later this year may be a suitable move.He said that although the inflation is still too high, the recent data allowed her to take a cautious and optimistic attitude towards inflation towards 2%.
"I believe that the economy is developing in the right direction," said Kuogler in a speech preparing for a event for Washington on Tuesday. "If the economic development meets my expectations, it may be appropriate to start relaxing the policy later this year."
"San Louis Federal Reserve Musalem said," It is necessary to maintain continuous inflation and cooling, slow demand, and supply growth in a period of time, so that I can be confident in cutting interest rates."" ".
European political situation is still concerned
Investors continue to pay attention to the development of the French political situation.Last week, as investors were concerned about French President Macron unexpectedly deciding to hold parliamentary votes in advance, it would lead to the great right -wing led parliament, and French assets were sold sharply.
Lee Hardman, a senior foreign exchange strategist in MUFG, said: "After the trend of the French debt last week, the market tended to stabilize.The view has not changed us, before the election, the euro will continue to digest a high premium. "
"Jefferies strategist Mohit Kumar said:" The recent risk aversion was driven by concerns about the disintegration of the Frexit 'and the euro area. In our opinion, these concerns are exaggerated, and we will gradually eliminate these these these concerns, and we will gradually eliminate these.We are still optimistic about high -risk assets driven by fear, but considering the upcoming French election, we will be more optimistic about the United States. "
Nvidia has a record high and its market value exceeds Microsoft, becoming the largest company in the US stock market value.Daofu Bank said that after re -adjustment, the chip manufacturer's weight in the popular exchanges (ETF) of its focus on technology may exceed 20%.
Apple will make a series of concessions, and it is expected that competitors will allow competitors to access their contact technology system (NFC function).This measure is expected to help the company end the EU's investigation of its mobile payment system.
In 2022, the European Union EU Commission accused Apple's illegal competition law and prevented competitors from using the "touch payment" chip or near -field communication technology (NFC) to benefit Apple's own Apple Pay payment system.
According to media reports, CEO Mask told employees on June 17 that Tesla is formulating stock -based salary -based salary plans for outstanding employees.Just a few days ago, Musk obtained the shareholders' approval of its 56 billion US dollars salary plan, which included stock options.In the past two months, Musk announced layoffs that the number of layoffs accounted for more than 10%of Tesla's total number of employees in Tesla, because the demand for electric vehicles slowed down.
It is also reported that Tesla recently issued a lawsuit to the District Court of the Northern District of California, accusing the former supplier Matthews International, stealing commercial secrets related to Tesla battery manufacturing and leaking these secrets toOther competitors.
Tesla stated in the lawsuit that Tesla should get at least $ 1 billion (about 7.265 billion yuan) in compensation due to the improper behavior of Matthews.
Recently, analysts have published research reports that although the performance has been slightly inferior to the market since late March, the view of Amazon still stands still.In particular, Amazon has maintained a solid leadership in cloud infrastructure, one of the most popular industries.AWS's strong growth momentum and cost discipline help the company to actively expand its free cash flow indicators, which is essential for long -term investors.
In addition, members of the Amazon union voted to approve to join the International Brotherhood of Teamsters.
The company said on Tuesday that Gemini mobile apps in India support English and nine Indian languages, including Indian, Bangladesh, etcJinnai Wealth Management. In addition, the Indian version of Gemini Advanced will be launched.
In response to market rumors that the Nanjing plant has obtained the news that the US Department of Commerce's "Unlimited Exemption Authorized", TSMC's official response stated that the US Department of Commerce has recently issued a "Validated End-User" (VEU) authorized to Yu TSMC (Nanjing)Limited.
This formal VEU authorized has replaced the temporary written authorization of the Ministry of Commerce since October 2022.This VEU authorization did not increase new authority. Instead, it was confirmed that the items and services involved in the US export control regulations could continue to provide the TSMC (Nanjing) company for a long time. Suppliers did not need to obtain individual licenses.
Car producer Stellandis recalls nearly 1.2 million cars in the United States and Canada.According to reports, the group recalls nearly 1.2 million cars in the United States and Canada since Tuesday to repair software failures that may cause the rear view camera to fail.
Broadcom reached a new high, which has previously risen for 7 days.
According to the source of the supply chain, HBM was sold out early in 2024.Bank of China adjusts the optical target price.
Rocket Lab signed the company's largest launch contract.
The US FDA approves pneumococcal vaccine for adults.
Chegg announced the layoffs and reorganization plans.
In other markets, the New York Commodity Exchange delivered the price of medium crude oil (WTI) futures in West Dedian, which rose 1.24 US dollars, an increase of 1.5%, and closed at $ 81.57 per barrel.
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