US inflation data continues to heat up, with year-on-year growth rate reaching the highest in 40 years. The Federal Reserve's hike in November 1 rate hike in 75 basis points is almost certain. US stocks on Thursday (October 13 Eastern Time) staged an intraday "big counterattack"! Energy and financial stocks led the rise strongly, and the biggest "drag" at the beginning of the session technology stocks also closed higher.
more than tech giants have taken action in the metaverse! After reaching a strategic cooperation with META not long ago, Microsoft announced the establishment of a new team called "Industrial Metverse Core" (IMC) on Thursday, and its stock price rose 3.76%; Amazon Cloud Technology also launched the Metverse Thousand People Talent Program with NVIDIA to provide additional cloud computing resource support for startups in the metaverse field using NVIDIA Omniverse.
Russia and Ukraine reported that NATO will provide Ukraine with anti-drone equipment and surface-to-air missiles; Miller, president of Gazprom, said that repairing the damaged pipeline of the "North Stream" will take more than one year.
The three major indexes reversed and closed higher
Thursday U.S. Bureau of Labor Statistics reported that the U.S. consumer price index (CPI) in September rose 0.4% month-on-month, higher than the market's forecast of 0.3%, and up 8.2% year-on-year, down from the peak in June 9%, hitting a new high since August 1982. Another data shows that the number of Americans who requested unemployment benefits last week was 228,000, estimated at 225,000, compared with the previous value of 219,000.
inflation data has once again strengthened the market's expectations for Fed rate hikes . According to Wind, the ECB Management Committee Kazaks believes that the ECB should raise interest rates by 75 basis points in October and then another big rate hike in December. The European Central Bank's interest rate hikes should slow down, but may be supplemented by other measures, such as shrinking the balance sheet .
JPMorgan Chase CEO Dimon said that inflation will curb consumer spending within 9 months. Intuition tells me that the Fed rate will be above 4%-4.5%. It is not believed that a soft landing will be achieved. The global price of commodity is "very fragile". After the data of
CPI was released, the US stock market opened lower, the Dow Jones Industrial Average fell sharply by 549 points at the beginning of the session, the Nasdaq fell nearly 3.2%, and the S&P 500 fell nearly 2.4%. However, with investors' expectations of interest rate hikes, and the strong driving force of energy and financial stocks, the US stock market rebounded from a low intraday trading, and the Dow Jones Industrial Average rose to more than 900 points at the end of the trading day, standing above the 30,000 mark.
Finally, the Dow Jones Industrial Average closed up 827.87 points, with rising at 2.83%, to 30038.72 points; the Nasdaq rose 232.05 points, or 2.23%, to 10649.15 points; the S&P 500 index rose 92.88 points, or 2.60%, to 3669.91 points.
Among the S&P 500 sectors, Finance and Energy took the lead and led the rise strongly. The financial sector rose more than 4.1%, the energy sector rose nearly 4.1%, the IT sector rose more than 3%, the non-essential consumer goods sector rose nearly 1%, the consumer essentials sector rose 1.6%, and real estate rose 1.8%. After the announcement of
CPI, the yield on the US 10-year benchmark Treasury bonds quickly rose from below 3.84% to above 3.90%; the yield on the 2-year US bonds , which is more sensitive to the interest rate outlook, also quickly rose from around 4.25% to above 4.50%, with an intraday increase of nearly 24 basis points.
Energy stocks and financial stocks lead the rise strongly
Bank stocks sounded the horn of counterattack and rose collectively. Goldman Sachs rose 4.1%, Citi rose 5.24%, Morgan Stanley rose 3.55%, Bank of America rose 6.1%, and Wells Fargo rose 4.49%.
Wall Street banks will be the first to kick off the curtain of a new round of financial report season for the US stock market. According to previous foreign media reports, starting from Friday, several major Wall Street banks including JPMorgan Chase, Citigroup, Wells Fargo and Morgan Stanley will release their third-quarter financial results one after another.
is affected by inflation and economic outlook expectations, and the market generally expects Wall Street banks to decline in their third quarter performance. Analysts expect JPMorgan Chase, Citigroup, Bank of America and Wells Fargo to fall 24%, 32%, 14%, and 17%, respectively, and Goldman Sachs expects its third-quarter profit to plummet 46% and Morgan Stanley to fall 28% in its Oct. 8 report.
U.S. crude oil futures prices recorded their first day rise in four trading days on Thursday.Before Thursday, the US WTI crude oil fell for three consecutive trading days. The U.S. Energy Information Administration (EIA) report showed that U.S. distillate oil inventory decreased by nearly 5 million barrels last week, exacerbating market concerns about tight oil supply in winter.
WTI crude oil futures for November delivery on the New York Mercantile Exchange rose $1.84, or 2.1%, to close at $89.11 per barrel, and the current price is around $89.17 per barrel.
Energy stocks performed strongly thanks to rising oil prices, with ExxonMobil rising 3.49%, Chevron rising 4.85%, ConocoPhillips rising 5.54%, Schlumberger rising 5.16%, and OccupyPH rose 4.44%.
Many technology giants acted in the meta-universe field
As the biggest drag on the US stock market at the beginning of the session, most of them also completed a "turning the wind" on Thursday. Wande's US TAMAMA Technology Index rose 2.36%, Microsoft rose 3.76%, Tesla rose 2.06%, Apple rose 3.36%, Netflix rose 5.27%, Google rose 1.54%, Facebook rose 2.19%, and Amazon fell 0.33%.
At the "Connect 2022" conference held by Meta not long ago, Meta and Microsoft announced that they had reached in-depth cooperation. In his speech at the conference, Microsoft's CEO said that Microsoft's office, Windows and Xbox cloud games will all be introduced into meta's VR headset products.
Just a few days after the announcement of the cooperation, Microsoft announced on Thursday that it had a new team called Industrial Metverse Core (IMC).
According to Wall Street News, the team will focus on creating immersive software interfaces for industrial control systems that power applications such as power plants, industrial robots and transportation networks. Microsoft’s goal is to create a virtual world focused on industrial work that can monitor and evaluate real-world machine and factory environments. For example: Aviation mechanics will be able to use artificial reality (AR) or virtual reality (VR) helmets to evaluate whether the machine is faulty.
In addition, Microsoft's upcoming industrial products have also extended to the transportation network, including technology from Bonsai, a low-code artificial intelligence development platform acquired by Microsoft in 2018. According to people familiar with the matter, Bonsai is developing a common application development service and simulation software. Once the system is fully developed and integrated with Microsoft's Azure services, Industrial Engineer is able to use it to merge artificial intelligence with industrial equipment and processes without requiring software development experience.
In addition to Microsoft and Meta, which was the first to develop the "meta universe", Wind compiled information that Amazon Cloud Technology has also launched the Meta universe Thousand People Talent Program with NVIDIA to provide additional cloud computing resource support for startups in the meta universe field using NVIDIA Omniverse.
US media: Musk is under investigation by the US government, related to his acquisition of Twitter transaction
Global Network report, according to the latest news from Bloomberg, the US lawyer representing the social media company Twitter in Delaware , billionaire Musk is under investigation by the US government for his attempt to acquire twitter.
"Elon Musk is currently under investigation by the U.S. federal government for his actions in the acquisition of Twitter," the report said the lawyers on behalf of the representative wrote in a court document dated October 6, which was published on the 13th.
According to a document received by the U.S. Securities and Exchange Commission on the 4th of this month, Tesla CEO Elon Musk said in a letter to Twitter on the 3rd that he plans to acquire Twitter at the original offer of the previous agreement.
Popular Chinese stocks rose and fell differently
Popular Chinese stocks rose and fell differently, Shengmei Semiconductor rose and fell 17.04%, Huadi International rose 16.28%, Youdao rose 11.37%, Aorijin Seed Industry rose 10.76%, Douyu rose 9.77%, Noah Wealth rose 6.6%; in terms of decline, Four Seasons Education fell 14.67%, Cheetah Mobile fell 7.08%, Shell fell 6.71%, and Bilibili fell 4.96%.
Chinese new energy vehicle stocks generally fell, NIO fell 0.85%, Xiaopeng fell 4.45%, and Ideal Auto fell 1.72%.
Commander-in-Chief of the Ukrainian Armed Forces spoke with the Chairman of the Joint Chiefs of Staff
According to CCTV News, Ukrainian media reported on the 13th that on the same day, the Commander-in-Chief of the Ukrainian Armed Forces Zarugene had a phone call with the Chairman of the Joint Chiefs of Staff Mili . The two sides discussed the importance of establishing the missile defense system and other issues.
Ukrainian media: Zelensky said that the Ukrainian army shot down 6 Russian missiles in Lviv Prefecture and other three places on the 13th
Global Network News, according to the Ukrainian Independent News Agency, Ukrainian President Zelensky said on the evening of the 13th local time that relevant Ukrainian departments have reported to him every hour in recent days.
reported that Zelensky also said that Ukraine was attacked by 11 missiles on October 13. The Ukrainian army shot down 6 Russian missiles in Lviv Prefecture, Nikolayev Prefecture and Dnepropetrovsk Prefecture and on the same day.
Russia said that Ukrainian army shelled an arsenal in Belgorod Prefecture in Russia and caused an explosion
According to CCTV, the governor of Belgorod Prefecture in Russia said on the 13th that the city of Belgorod was attacked by Ukraine, and rocket debris hit a local residential apartment building. Local emergency rescue personnel have arrived at the scene, and there are currently no news of casualties.
In addition, the governor of Belgorod Prefecture said that the Ukrainian army's shelling that day also hit a Russian ammunition database located in the state and triggered an explosion. Ukraine has not yet responded to this.
Gazette: Repair of "North Stream" will last for more than one year
According to CCTV News, Miller, president of Gazette Corporation, said on the 13th local time that in order to repair the damaged pipeline of "North Stream", most of the pipelines may need to be replaced, and the repair work will last for more than one year. Miller said that large sections of the pipeline are now filled with sea water.
NATO will provide Ukraine with anti-drone equipment and surface-to-air missiles
CCTV News reported that on the 13th local time, the two-day meeting of defense ministers of NATO member states ended at the NATO headquarters in Brussels. The meeting decided to continue to provide military assistance to Ukraine, including providing anti-drone equipment and four sets of US-made "eagle" surface-to-air missiles to Ukraine. At the same time, NATO also decided to strengthen protection of critical infrastructure by sending more personnel and equipment and intelligence sharing. To this end, NATO has doubled the naval power deployed in the Baltic and North Seas.
This article is from China Fund News
