China Fund News reporter Jin Youzhi
The last trading day of the first half of the year has passed. US stocks The three major stock indexes and various commodity futures all fell... And looking at the "report card" of the entire first half of the year, the three major stock indexes and technology stocks The trend of is really bad.
U.S. stocks ended the first half of the year, with the Nasdaq falling nearly 30%
The S&P 500 had its worst performance in more than 50 years
On the last trading day of the first half of the year, the three major U.S. stock indexes all fell. As of the close, the Dow fell 0.82% to 30775.43 points; the Nasdaq fell 1.33% to 11028.74 points; the S&P 500 index fell 0.88% to 3785.38 points.
The S&P 500 fell 21% in the first half of the year, its worst performance in more than 50 years. The Nasdaq fell 29.51% in the first half of the year, and the Dow Jones Industrial Average fell 15% in the first half.
Inflation and recession concerns have hammered U.S. stocks
Soaring inflation and the Fed's tightening of policy are important reasons for the weak performance of U.S. stocks in the first half of the year. On the day when the first half of the year ended, the latest inflation data released by the United States unexpectedly fell, but it was still at a historically high level, which had little effect on boosting market confidence. Data released by the U.S. Department of Commerce that day showed that the U.S. PCE price index increased by 6.3% year-on-year in May, lower than market expectations of 6.4%, and the previous value was 6.3%. The PCE price index in May increased by 0.6% month-on-month, lower than market expectations of 0.70%, and the previous value was 0.20%.
In addition, concerns about unemployment and economic recession are also important factors affecting the trend of U.S. stocks in the first half of the year. According to CCTV, Duke University’s Fuqua School of Business, Richmond , and the Federal Reserve Bank of Atlanta released a joint quarterly survey on June 29. The survey showed that senior managers in the U.S. financial industry have a sharp decline in confidence in the performance of the U.S. economy. , a confidence index fell to its lowest level in 12 years.
On the closing day of the first half of the year, an important employment data was also released, but this data did not improve significantly. Data released by the U.S. Department of Labor on Thursday showed that 231,000 people filed for unemployment benefits in the week ending June 25, higher than market expectations of 228,000. The previous value was 229,000. In the week ending June 25, the number of people continuing to apply for unemployment benefits in the United States rose slightly to 1.328 million.
Some analysts believe that the Federal Reserve is not fully prepared to deal with the current economic conditions, which has caused relatively large fluctuations in the market. According to Wind Information, Stephanie Lang, chief investment officer of Homrich Berg, said: "The United States is now experiencing inflation that has not been seen in decades, and the Fed is somewhat unprepared." She added: "Now, the market is forced to adjust to the Fed's attempt to The New Reality of Catching Up and Slowing Growth "Inflation is going to be here for a while, so we expect the Fed to continue firing on all cylinders and not see the kind of stuff we've seen with every big sell-off over the past decade or so," she said.
Looking forward to the second half of the year, some analysts are cautiously optimistic. Courtney Garcia, senior wealth advisor at Payne Capital Management, believes that even if inflation peaks, it will last for a while, but in this environment, investors still have good opportunities.
"The market will price in a recession before it actually happens and that's what investors need to be concerned about," she said. "This has happened a few times historically and they tend to do very well in the second half of the year. "
Star technology stocks suffered heavy losses in the first half of the year.
plunged up to 70%.
On the last trading day of the first half of the year, US star technology stocks also fell. apple fell 1.85%, Tesla fell about 2%. Google fell by more than 1%, Meta fell by 1.64%, Microsoft fell by 1.32%, Amazon fell by 2.5%.
Judging from the performance in the first half of the year, the trend of technology stocks is even more "horrible."
Among star technology stocks, Netflix suffered the largest decline in the first half of the year, with a cumulative decline of 71%.
In addition, Tesla fell by about 36% in the first half of the year, and Apple fell by 23%. Microsoft fell 24%, Google A fell 25%, and Meta fell 52%.
Regarding the performance of technology stocks, CITIC Securities research report pointed out that in the face of continued high inflation, the US technology sector is facing the unfavorable situation of both denominator and numerator being damaged at the same time. The current sector valuation has returned to the level between 2014 and 2018. To a greater extent, it reflects the impact of rising interest rates on the denominator side, and the performance on the numerator side has gradually become the main contradiction that the market is paying attention to.However, in the face of a complex and unpredictable macro environment, it is not easy to make accurate judgments in the short term.
Looking forward to the future, CITIC Securities pointed out in a research report, "We judge that until there is a substantial improvement in macro data such as inflation or a signal can be followed, the fluctuations in the U.S. stock market are expected to continue. The capital market is always accustomed to overestimating the short-term impact, and Underestimating changes in mid- to long-term trends. Faced with the difficulty of predicting the short term, the most effective way is to lengthen the investment cycle and focus on mid-term trend opportunities. We judge that the dividends of 2C Internet users in the US stock technology sector will continue, and enterprise cloud will continue. Technology and digitization will also form the core support for mid-term growth. At the same time, the current sector valuation level has provided good protection against the downside. The market's mid-term upside benefits are significantly greater than the downside risks. "
Global commodity futures fell together
U.S. natural gas once plummeted 16%.
On the last trading day of the first half of the year, various commodity futures also fell. U.S. oil fell more than 3%, and Brent oil fell nearly 3%.
The base metal is also a miserable green.
U.S. natural gas futures even fell 16% at one point, before rebounding slightly.
According to CCTV, U.S. natural gas futures prices fell below about $6 per million British thermal units on June 30, local time, after an inventory report showed that natural gas storage energy was greater than expected, triggering concerns about market oversupply.
According to US Consumer News and Business Channel (CNBC), natural gas futures prices in Henry Hub, Louisiana, the United States, fell 16.53% that day to close at US$5.42 per million British thermal units. The contract ended June down 33%, its biggest drop since December 2018.
The U.S. Energy Information Administration 30 said that natural gas inventories increased by about 2.32 cubic kilometers (82 billion cubic feet) in the week ended June 24.
Part of the reason for the decline in natural gas futures prices this month is that Freeport LNG in the Texas Gulf of Mexico announced in early June that its Quintana Island plant facility would be shut down for a period of time after a fire. Exceeded expectations. Freeport accounts for approximately 17% of U.S. LNG processing capacity.
Russian Ministry of Agriculture: Starting from July 1st,
Russia will temporarily restrict the export of amino acids feed and rice
There is also big news on the situation in Russia and Ukraine.
According to CCTV, on June 30, local time, the Russian Ministry of Agriculture issued a statement saying that from July 1 to December 31, Russia will temporarily restrict the export of amino acid feed and rice.
The Russian Ministry of Agriculture stated that the purpose of this decision is to ensure Russia’s food security, ensure the price stability of these products in Russia, and support the Russian livestock industry and processing industry.
The U.S. Treasury Department took action, and a Russian billionaire "suffered"
Over 1 billion US dollars of trust fund was frozen
According to CCTV, on June 30, local time, the U.S. Treasury Department announced the freezing of Russian billionaire Suleiman Absa Suleiman Abusaidovich Kerimov's trust fund exceeds $1 billion in the US state of Delaware.
The U.S. Treasury Department said that Russian Federation Council (Upper House of Representatives ) member Suleyman Absadovich Klimov was found to have hidden funds through shell companies, violating U.S. sanctions laws. Since 2018, Kerimov has been sanctioned by the United States for incidents such as Crimea and the Russia-Ukraine conflict.
Russia said that the Russian troops had completed the designated task of evacuating from Snake Island
Ukraine said that the Ukrainian armed forces had not yet landed on the island
According to the CCTV News Client, on June 30, the Russian Ministry of Defense stated that the Armed Forces of the Russian Federation had completed Completed the designated mission on Snake Island and withdrew from Snake Island on the same day. Ukraine said that after the Ukrainian armed forces launched a military attack on Snake Island, Russian troops have evacuated from Snake Island, but Ukrainian troops have not yet landed on the island.
Konashenkov, spokesperson of the Russian Ministry of Defense, said in a Russian Ministry of Defense announcement on June 30 that the Russian military had ended its mission on Snake Island and withdrawn its troops from Snake Island on that day. This move showed to the international community that Russia would not It will hinder the relevant efforts of the United Nations to ensure the export of Ukrainian agricultural products. Konashenkov emphasized that the decision will prevent "Ukraine from hyping up the topic of a food crisis on the pretext that Russia's control of the northwestern waters of the Black Sea prevents the shipment of food." Konashenkov said that everything now depends on Ukraine, which has not yet demined its Black Sea coast and port waters.
Commander-in-Chief of the Ukrainian Armed Forces Zaluzhny posted on social media on June 30 that the Russian army left Snake Island due to artillery fire, missiles and air strikes by the Ukrainian Armed Forces. According to US media reports, a spokesman for Ukraine's Southern Command said that although Russian troops have withdrawn from Snake Island, the Ukrainian armed forces have not yet landed on the island, and it is "too early" to establish an outpost there.
Snake Island is located in the western Black Sea, only 140 kilometers away from Odessa, an important port in Ukraine, and has an important strategic position. Analysts pointed out that controlling Snake Island is equivalent to controlling the northwest coast of the Black Sea and Odessa, the largest port in the Black Sea. The relevant routes are an important part of the world's food supply chain.
Russia said it continued to attack military targets in the city of Lischichansk and many places
According to the CCTV News Client, on June 30, the Russian Ministry of Defense stated that the Russian army had attacked Ukrainian military targets in Kharkov and other places. The General Staff of the Ukrainian Armed Forces stated that Russian troops were trying to encircle the city of Lischichansk.
Russian Defense Ministry spokesman Konashenkov reported on June 30 that the Russian army used high-precision weapons to attack multiple ammunition depots , personnel and weapons and equipment assembly points of the Ukrainian army in Kharkiv and other areas. The Russian army also shot down a Ukrainian Air Force Su-25 fighter jet and struck military targets such as the "Buk-M1" air defense missile system in the Odessa area. The Russian air defense system shot down the Ukrainian Su-27 fighter jet and multiple drones.
According to RIA Novosti news agency reported that the Russian army and Luhansk armed forces have completely controlled the Lischichansk oil refinery, and the Ukrainian troops in the plant have been fully repulsed. The Luhansk armed forces stated that they are currently launching an active offensive into the city of Lisichansk. The Ukrainian army is trying to escape from Lisichansk into small groups. It may only take a few days to control the entire Lisichansk.
Ukraine's national news agency reported on June 30 that the General Staff of the Ukrainian Armed Forces stated on social media that the Russian army continued to launch an attack on the city of Lischichansk under the cover of artillery fire that day and tried to encircle the city. Currently, the fighting is fierce in the vicinity of Kamenka and Lisichansk oil refinery. Ukrainian troops executing orders to defend the city of Lischichansk currently have no plans to retreat.
The General Staff of the Ukrainian Armed Forces also stated that the Russian army continued large-scale shelling of Kharkiv, Bakhmut, Kramatorsk and other places that day.
Other latest news from Russia and Ukraine
Ukrainian officials: The first grain cargo ship left the port of Berdyansk
Yevgeny Balitsky, an official of Berdyansk City in Zaporozhye Oblast, Ukraine, confirmed on June 30 that the first grain cargo ship left the port of Berdyansk. A grain cargo ship has left the port of Berdyansk controlled by the Russian army, and 7,000 tons of grain will be transported to friendly countries. Balitsky said that the port of Berdyansk is currently "completely safe", the port is ready for cargo, and the safety of cargo ships is guaranteed by ships of the (Russian) Black Sea Fleet's Novorossiysk naval base.
Ukraine is known as the "Granary of Europe" and is a major exporter of corn and wheat. After Russia launched special military operations against Ukraine in February, Western countries accused Russia of interfering with Ukrainian grain exports and exacerbating the global food crisis. Russia has repeatedly denied this statement, emphasizing that Western countries are trying to shirk responsibility.
The Russian Ministry of Foreign Affairs summoned the British Ambassador to Russia
On June 30, local time, according to the official website of the Russian Ministry of Foreign Affairs, the Russian Ministry of Foreign Affairs summoned the British Ambassador to Russia to express its views on the British leader’s targeting of Russia, Russian leaders and official government representatives, and Russian The people strongly protested against the rude remarks.
The Russian Ministry of Foreign Affairs pointed out that the offensive remarks of the British leader were unacceptable and demanded an apology. In addition, the Russian Foreign Ministry also stated that it is unacceptable for British officials to deliberately spread false information, especially information about Russia's "threat to use nuclear weapons ".
Canada will provide more military equipment to Ukraine and send more soldiers to NATO
Canadian Prime Minister Trudeau, who is attending the NATO summit in Madrid, Spain, announced on June 30, local time, that Canada is finalizing a plan to provide Ukraine with Agreement for 39 Armored Combat Support Vehicles (ACSV). The vehicles were originally intended for delivery to the Canadian Army, but will be transferred to Ukraine and are expected to be delivered this summer.
In addition, Canada will provide Ukraine with 6 more high-resolution cameras for assembly on drones manufactured by Turkey. These drones are mainly used to attack Russian tanks and armored personnel carriers.
It is reported that these newly provided military equipment will soon spend up the 500 million Canadian dollars budget set aside by the Canadian government to support Ukraine.
Trudeau also announced that Canada will send more soldiers to Latvia . NATO has eight battle groups stationed in Eastern Europe. Among them, a battle group commanded by a Canadian is stationed in Latvia and consists of about 2,000 soldiers, including 700 Canadian soldiers.
Canada signed an agreement with Latvia on the 29th. Both parties agreed to upgrade the battle group to a brigade and send additional soldiers and equipment to this end.
Editor: Captain
