On October 17th local time, the three major U.S. stock indexes rebounded across the board, and the technology, finance and other sectors generally rose, and Tesla soared by more than 7%.
Market insiders said that the market has temporarily accepted and digested the expectation that the Federal Reserve will continue to raise interest rates in , so US stock rebounded. However, looking forward to the future, the US stock market may not have ended.
The three major U.S. stock indexes rebounded
On October 17th local time, the three major U.S. stock indexes rebounded collectively.
According to Wind data, as of the close, the Dow Jones Industrial Average rose 1.86% to 30185.82 points; S&P 500 rose 2.65% to 3677.95 points; and the Nasdaq rose 3.43% to 10675.8 points.
technology sector strengthened significantly, with Meta rising 5.7%, Amazon rising 6.5%, Apple rising nearly 3%, Microsoft rising nearly 4%, Google parent company Alphabet rising 3.5%, Netflix rising 6.6%, and Tesla 7%.
financial sector also rose collectively, with Bank of America rising more than 6%, while most other stocks rose between 1.8% and 2.5%.
The three major European stock indexes also closed up across the board. German DAX index rose 1.70% to 12,649.03 points; French CAC40 index rose 1.83% to 6,040.66 points; the UK FTSE 100 index rose 0.90% to 6,920.24 points.
Wall Street Big bears:
US stock market has not ended
Although US stocks rebounded temporarily, Wall Street experts are not optimistic about the outlook for the US economy and stock market.
IMF Chief economist Gopinath said that considering the US economic data, the Federal Reserve should stick to the interest rate hike to the end, and U.S. inflation is still very stubborn.
Salman Ahmed, global head of macro and strategic asset allocation at Fidelity International, said that the market's hope that the Fed will shift from austerity policy in the short term has been shattered. The Fed still seems to have to do its best to curb inflation.
Goldman Sachs managing director Scott Ruberner pointed out that US retail investors are clearing their U.S. stock portfolios and choosing to hold cash.
JP Morgan CEO Jamie Dimon said the S&P 500 index may continue to fall, and the decline may "easily drop another 20%" from the current level.
, known as the "big short seller on Wall Street", Michael Wilson, chief strategist at Morgan Stanley , also stated in the latest report that the S&P 500 index will drop to 3,000 points, and the price-to-earnings ratio will further drop to 13 times, and the US stock market will bottom out and the bear market will end.
Note: The market screenshots in are all from Wind
Edited by Song Zhaoqing Wang Yin
