On Wednesday, Eastern Time, U.S. bond yield soared to a multi-year high. Feder expectation of a sharp hike rate hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike hike As of the close, the Dow Jones Industrial Average fell 99.99 points, down 0.33%, at 30,423.81 points; the Nasdaq fell 91.89 points, down 0.85%, at 10,680.51 points; the S&P 500 index fell 24.82 points, down 0.67%, at 3,695.16 points.
Even if Netflix, Procter & Gamble and United Airlines released better-than-expected performance reports, it failed to excite investors. Tesla fell after the market due to disappointing revenue, which may further suppress market sentiment. Nicholas Colas, an analyst at
DataTrek Research, believes that a longer-lasting rise requires seeing the stabilization or even peak of US Treasury yields, which is the basis for the S&P 500's two-month rise since mid-June. Given that the Fed still adopts austerity policy and bond yields remain at such a high level, it may not be the time to buy stocks.
U.S. Treasury yields rose sharply on Wednesday, with the benchmark 10-year U.S. Treasury yields returning to above 4%, rising to 4.136%, the highest level since the 2008 financial crisis.
Feder Kashkali said the Fed may suspend interest rate hikes sometime next year if policymakers see clear evidence that core inflation is slowing. However, he said he has not seen any evidence that would give him "reassured" that inflation is slowing.
Feder Blackbook shows that as concerns about weakening demand are increasing, respondents have become more pessimistic about the outlook for the US economy. Overall, the price growth rate in the United States remains at a high level, and the price growth rate will generally be moderate in the future.
11 sectors of the S&P 500 index were almost wiped out, the real estate sector closed down 2.56% to lead the decline, the financial sector fell about 1.6%, the health care, utilities, optional consumption, and raw materials sectors also fell at least more than 1.1%, and the energy sector rose by more than 2.9% was the only sector that closed up.
Among the US stock industry ETFs, the Biotech Index ETF closed down 3.41% to lead the decline, the banking ETF fell 2.17%, the regional banking ETF fell 2.08%, the financial ETF, medical ETF, utility ETF, and optional consumer ETF fell by more than 1.6%, the global aviation ETF closed flat, and the energy ETF rose 2.95%.
On the market, the large technology stock rose and fell, and Netflix rose by more than 13%, setting the largest single-day increase since January 2021 , as its net increase of 2.41 million paid subscription users in the third quarter exceeded expectations. Apple and Meta rose slightly; Google and Amazon fell more than 1%, while Microsoft fell slightly. In terms of chip stocks, Asmay rose more than 6%, and its revenue and profits in Q3 exceeded market expectations. The company expects that the direct impact of the new US regulations on the 2023 shipment plan is limited. Tesla fell more than 4% after the market, with revenue in the third quarter of 21.45 billion US dollars and estimated US$22.09 billion; Musk expects Tesla vehicle delivery to hit a record high in the fourth quarter, and Tesla may buy back $5 billion to $10 billion in stock; however, the company expects the annual vehicle delivery growth rate in 2022 to be lower than 50%.
Leading the rise in technology stock list:
Leading the fall in technology stock list:
Chinese stocks almost all fell , Gaotu fell more than 14%, Dingdong Maicai , Bilibili , Shangmao Technology, Niu Electric fell more than 10%, Onion Group , Dada Group , Huya , Huazhu Hotel fell more than 9%, 360 Digital Science, Baidu , Qixi Education, Fog Xin Technology , Beike fell more than 8%, Ctrip , JD , Zhiwen Group, Autohome fell more than 7%, iQiyi, Vipshop Kingsoft Cloud, Tuniu, Pinduoduo, Alibaba , Huyao Group , New Oriental fell more than 6%, Qutoutiao , Cheetah Mobile , Netease, Yingxi Group fell more than 5%, Douyu , Qinhuai Data, Netease Youdao, Sohu fell more than 4%, Tuya Smart, Tencent Music, Tiger Securities , Happy Auto fell more than 3%, Thunder, Xinyang, and Lizhi fell more than 2%, Ninth City, 51Talk, 36Kr fell more than 1%.
Water Drop Company rose more than 14%, Mogujie rose more than 10%, Monster Charging and Yixian E-commerce rose more than 3%, and Quhuo rose more than 1%.
Leading the rise in Chinese stocks list:
Leading the fall in Chinese stocks list:
New energy vehicle concept stocks collectively fell, and "Wei Xiaoli" both fell by more than 10%. Ideal Auto fell 11.21%, Xiaopeng Motor fell 10.81%, and NIO fell 10.57%.
Tesla closed up 0.84%, with a transaction volume of US$13 billion. In terms of news, Tesla's U.S. stock market released its third-quarter financial report for 2022 after-hours on Wednesday, October 19. Data shows that Tesla's third-quarter revenue was US$21.45 billion, with an estimated US$22.09 billion; free cash flow html was US$43.3 billion, with an estimated US$2.89 billion. Tesla said that production in factories in Shanghai and other places hit a single-quarter high, and the truck Semi is scheduled to start delivery in December, and the production of 4,680 batteries tripled from the second quarter.
More auto sector rise and fall and market value ranking
The three major European stock indexes fell slightly on the same day. As of the close, the London stock market in the UK, the average price index of 100 stocks closed at 6924.99 points on the 19th, down 11.75 points from the previous trading day, a drop of 0.17%.
stocks , on that day, the service stocks among the component stocks in the London stock market led the rise, with the top five stocks in the top five: BP stock price rising 2.25%, International United Airlines Group's stock price rising 1.93%, Pershing Plaza Holdings' stock price rising 1.87%, HSBC Bank's stock price rising 1.77%, and Vodafone Group's stock price rising 1.56%.
The financial stocks led the decline on the same day, with the top five stocks in the declines: the stock price of household goods supplier Cuifeng Group fell 5.89%, the share price of property investment company Segro fell 4.69%, the share price of Lloyds Bank Group fell 4.68%, the share price of financial services company Hargreaves Lance when the share price fell 4.23%, and the share price of the British real estate sales network company "correct move" fell 4.22%.
The other two major stock indexes in Europe, the Paris Stock Market CAC40 index of France closed at 6040.72 points, down 26.28 points from the previous trading day, down 0.43%; the Frankfurt DAX index of Germany closed at 12741.41 points, down 24.20 points from the previous trading day, down 0.19%.
Company news
[ Biden Infrastructure Act first batch of subsidies for the battery industry are released, and many listed companies appear]
On Wednesday morning local time, the Biden administration of the United States announced that 20 facilities from 12 states received special subsidies for electric vehicle battery manufacturing and material production totaling US$2.8 billion. This is also the first batch of subsidies for battery industry under the US infrastructure bill. According to reports released by White House and the U.S. Department of Energy, the first subsidy list also includes well-known listed companies such as Yabao , Piedmont Lithium, and Applied Materials, covering multiple steps such as battery anode, separator, and precursor materials production, as well as processing and recycling.
[GM considers expanding Hummer product line with medium-sized electric pickup trucks]
According to people familiar with the matter, GM is considering adding a medium-sized electric pickup truck to its Hummer brand to cater to the demand for low-emission cars. Small electric Hummers are still a universal design concept, but there are great opportunities to be put into production and are considered a priority project. GM has already made large electric Hummer pickups and will start manufacturing full-size SUVs early next year. GM is attracting high-end customers by launching high-priced electric vehicles of Hummer and Cadillac and offering low-priced models to fleet buyers, thereby expanding sales and manufacturing scale. People familiar with the matter said that General Motors believes that the Hummer brand has a high level of recognition, so launching a Hummer that is smaller but still strong will be a reasonable extension.
[Tesla selected to produce Cybertruck battery pack at the Fremont factory]
According to Teslarati, people familiar with the matter revealed that Tesla plans to start manufacturing battery packs for the upcoming Cybertruck electric pickup truck on a new battery production line at the Fremont factory. According to a document submitted by Tesla to the city of Fremont, Tesla called the project "CTA Battery B-Build." Tesla plans to mass-produce Cybertruck at its Austin plant in Texas, but the new Tesla factory outside of Austin is not ready to start producing batteries and battery packs. Sources confirmed that the Fremont plant, the only Tesla factory that can produce all four cars the company produces, was eventually selected to take charge of the Cybertruck packaging manufacturing task.
[Tesla's third-quarter revenue was US$21.45 billion, estimated at US$22.09 billion]
Tesla's third-quarter revenue was US$21.45 billion, estimated at US$22.09 billion; free cash flow in the third quarter was US$3.30 billion, estimated at US$2.89 billion; adjusted earnings per share in the third quarter was US$1.05, market expected at US$1.01; gross profit margin of automobile business in the third quarter was 27.9%, market expected at 28.4%.
