Qianjiang Evening News • Hourly News Reporter Liu Yanxin
On Thursday evening, Beijing time, global investment institutions were watching the release of economic data - the latest U.S. inflation data.
Data released by the U.S. Department of Labor showed that the U.S. CPI rose 8.2% year-on-year in September, estimated at 8.1%, and the previous value was 8.3%; the U.S. CPI rose 0.4% month-on-month, estimated at 0.2%, and the previous value was 0.1%. When the
data was just released, the three major futures of U.S. stocks plunged futures fell nearly 3%. It is obvious that US inflation has exceeded expectations again, and the market's concerns about Fed's interest rate hike continue.
After the opening of in the US stock market, the three major indexes fell collectively. Among them, the Dow Jones Industrial Average fell sharply by more than 500 points, while the Nasdaq and S&P 500 both fell by more than 2%.
Just when investors staring at the night trading of the US stock market thought that the US stock market was about to collapse again, a magic happened -
In less than half an hour of trading on Thursday, the bottom-buying funds poured in, and the three major U.S. stock indexes began to rise, staged a great reversal.
Among them, Dow Jones Index fell from more than 500 points at the beginning of the session, and closed up 827 points and rose 2.83%, and 1,300 points in the session. Nasdaq Index and S&P 500 Index also turned from decline to rise, with gains 2.23% and 2.6% respectively.
According to statistics from research institutions Bespoke, in the history of the S&P 500, there has been a spectacle of "the opening fell about 2% but the closing price rose more than 2%", including only 5 times today.
The three major European stock markets also experienced a collective plunge after the release of the US inflation data. Then the German stock market fell from more than 1% during the session to 1.51%, the French stock market rose 1.04%, and the British stock market rose 0.35%. The European Stock 50 index turned from a sharp drop of nearly 2% to a 0.93%.
From the sector perspective, bank stocks collectively rose sharply, which was the biggest contributor to the big reversal of the US stock market on Thursday. Among them, Bank of America rose 6.13%, United States Bank , National Bank of America, JPMorgan Chase , Citi , New York Mellon , etc. rose by more than 5%, Wells Fargo rose by more than 4%, Goldman Sachs and Morgan Stanley rose by more than 3%. Celebrity technology stocks generally rose, Netflix and HP rose 5.27%, Intel and Nvidia rose more than 4%, Cisco , Microsoft , and Apple rose more than 3%. In terms of energy stocks, ConocoPhillips and Murphy Oil rose by more than 5%.
Analysts believe that after the "explosive" inflation data in the United States is implemented, US stocks can stage a major reversal. The market is speculating about the "boot" of the Fed's interest rate hike that has been worrying about before. Before the data was released, the US stock market continued to weaken, which had fully digested the negative news of the Federal Reserve's interest rate hike of in November 575 basis points. Futures people believe that the CPI data disclosed by the United States on Thursday is an event that has been fully hedged in the capital market, so after the expected event, investors sold the hedge against the target at hand, which led to the market rise.
Chinese stocks listed in the United States 5 on Thursday were weaker than the overall performance of the US stock market, and the Nasdaq China Golden Dragon Index closed down 0.68%. Among the well-known Chinese stocks, Beike fell 6.85%, Lufax fell 6.51%, Bilibili fell 4.96%, Xiaopeng Motors fell 4.4%, JD fell 2.91%, Ideal Auto fell 1.72%, NetEase fell 1%, and Alibaba fell 0.95%.
For A-share market , Tianfeng Securities believes that the domestic economy is in recovery in the short term, infrastructure and automobiles are the two major supporters. The epidemic has suppressed the elasticity of the recovery but the impact is weakening. The overall enterprise is in a destocking cycle, and the profit structure has begun to improve. At the same time, the long-term economic growth center is taking a step forward with real estate, so the year-on-year highs of the recovery cycle will continue to decline, but the economy is also accelerating the de-real estateization, and new momentum and new trends are beginning to emerge at accelerating. The increase in export share is a new trend, and the added value of manufacturing and the increase in contribution rate is a new momentum.
As the growth rate of medium- and long-term loans rebound, the A-share market suddenly appears and the market enters a short-term rebound window.After the market has reported many pessimistic factors in the past few months and believes that the fundamentals of each sector will be in a mess, A shares may usher in the dawn of recovery. You can pay attention to the main lines of domestic substitution, such as military industry, semiconductors, information technology, medical devices, and machine tools. Tianfeng Securities believes that at present, the domestic inventory cycle, real estate cycle and overseas economic cycle have not been cleared, the growth rate of medium- and long-term loans is still bottoming out, and the turning point is not yet clear. Therefore, in the short term, big finance and big consumption will be more pessimistic and expectant recovery. The early layout of the performance vacuum period is expected to turn to sectors with high growth in the year (such as high prosperity + reversal of dilemma).
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