Thanks to the recovery of demand, the US ISM service industry index unexpectedly rose to a four-month high of 56.9 in August, which was the second month after three consecutive months of decline, pushing the dollar index to another 20-year high, and the yields of US Treasury generally rose sharply in double-digits.
However, better than expected economic data may represent Federal continues to violently hike rate to suppress inflation . Technology stocks that are sensitive to interest rate policies lead U.S. stocks High and low At the beginning of the session, the Dow Jones Industrial Average fell by more than 200 points, and the Nasdaq and small-cap stocks fell by more than 1%. The currency market bets on September 21, the probability of the Federal Reserve hike rate 275 basis points is 73%, and hawkish Euro dollar positions suggest that the United States will raise interest rates above 4% by the end of this year.
market also focused on the ECB's decision to raise interest rates on Thursday, which saw concerns about growth prospects as orders for the German factory in Europe's largest economy declined for the sixth consecutive month in July, raising concerns about the ECB's largest interest rate hikes in more than two decades fell from 90% to 65%. But Deutsche Bank said that a 75 basis point rate hike is still imperative, and it may raise 50 basis points twice before the end of the year, the fastest rate hike in history.
EU Energy Minister will hold a meeting this Friday to discuss emergency measures to deal with the soaring price of natural gas and electricity prices, and may consider setting a price limit for imported natural gas and setting a price limit for natural gas used for power generation. After Germany released 65 billion euros to fight the energy bills, the British female prime minister's "first fire" in office not only wanted to freeze the annual household energy bill fees, but also had to spend 130 billion pounds of energy subsidies.
US stocks hit a seven-week low, Nasdaq and small-cap stocks fell for seven consecutive days, and interest rate-sensitive technology and chip stocks led the decline, European stocks rose
Tuesday, September 6, as the hawkish interest rate hikes gradually approached in September, and the European energy crisis continued to ferment, risky assets once again fell, and European and American bond prices also fell sharply.
US stocks opened slightly higher and then quickly fell. opened for half an hour, Nasdaq 100 index fell more than 1%, the Dow Jones Industrial Average wiped out the gain of nearly 150 points and turned to a drop of more than 270 points, S&P 500 index fell 1% at the deepest and fell 3900 points at one point. Nasdaq fell by 160 points or 1.4%, while the Russell 2000 small-cap stock index fell by 1.3% and fell by 1,800 points. The interest-sensitive technology stocks fell by more than 1% to lead the market.
US stocks once turned up during the afternoon session, and then turned around and fell again. As of the close, S&P , Dow Jones, Nasdaq and Russell small-cap stocks all hit seven-week lows since July 18, Nasdaq and small-cap stocks all fell for seven consecutive days, Dow Jones and S&P fell for two consecutive days, and Nasdaq hit the longest consecutive decline cycle since November 2016:
S&P 500 closed down 16.07 points, a drop of 0.41%, to 3908.19 points. The Dow Jones Industrial Average closed down 173.14 points, or 0.55%, to 31,145.30 points. The Nasdaq closed down 85.95 points, down 0.74%, to 11,544.91 points. The Nasdaq 100 index closed down 0.72%, while the Russell 2000 small-cap index fell nearly 1%. Most of the 11 sectors of S&P closed lower, with Telecom and Energy falling by more than 1%, information technology and daily consumer goods falling by more than 0.6%, and the real estate sector rising by more than 1%.
US stocks opened slightly higher and then quickly fell. The Nasdaq fell by more than 1% in half an hour after opening, and then fell again after midday
Star technology stocks hit a minimum of at least one month . " yuan universe " Meta fell by more than 1% to its lowest since July 14. Amazon fell by more than 1% to its lowest since July 28. Apple fell nearly 1% to its lowest since July 25. Microsoft fell more than 1%, the lowest since July 26 after seven consecutive days, with Netflix, which fell more than 3% and Google's parent company Alphabet, which fell about 1%, both hit the lowest since July 26. But Tesla fell 1.7% and turned 1.6%, rebounding from a new low since July 26. Most of the chip stocks in
fell for seven consecutive days. Philadelphia Semiconductor Index fell by more than 1%, the lowest since seven consecutive days until July 12. Intel fell nearly 3% and hit a six-year low, while AMD fell nearly 2% to its lowest since July 14. Nvidia fell by more than 1% to its lowest since March last year. On the news front of
, the media said that Tesla still has problems in the mass production of 4680 batteries, especially in dry coating technology. Apple held a new autumn product launch conference on Wednesday, and is expected to release iPhone 14, the eighth-generation smart watch and wireless headphones AirPods Pro, etc.Kuo Mingchi predicts that the price of iPhone14 series will rise by 15% compared with iPhone13, and the average price may be between 1,000 and 1,050 US dollars, and other analysts pour cold water on it. Google announced that it will release new smartphones and the first Watch smartwatch product on October 6.
Other popular stocks with large changes include:
Retail investors' group stocks new favorite 3B Home Furnishing fell by more than 18%, the lowest since five consecutive days until August 4, erasing all the gains of this round of soaring. The former chief financial officer committed suicide last Friday and the company is still looking for a new permanent CEO.
Home health company Signify Health rose more than 1%, breaking $29 to its highest in 14 months, and is about to be acquired by pharmacy giant CVS cash at $30.50 per share, which fell nearly 1%, beating well-known companies such as Amazon and United Health in the acquisition case.
FedEx fell by more than 2% to its lowest since June 13. Citigroup downgraded its rating to "hold" and lowered its target price, citing the express delivery industry's EPS growth this year.
Volkswagen plans to start the IPO process of sports car brand Porsche at the end of September or early October. It is expected to be listed in Germany before the end of the year, and may be the largest IPO in Germany's history and the largest in Europe since 1999, becoming one of the world's largest listed companies this year. Volkswagen's U.S. stock rose by 3.6% to return to the level since August 19, while European stocks rose by nearly 4% and hit a two-week high.
French electronic game developer and publisher Ubisoft Entertainment Software (Ubisoft) said that the board of directors of authorized Tencent will double its shareholding ratio to 9.99%, Ubisoft European stocks soared 15% after trading, and US stocks rose nearly 4% to a month's high.
Popular Chinese follow the U.S. stock market downward. Chinese ETF KWEB fell 3.6%, CQQQ fell 2%, and Nasdaq Golden Dragon China Index (HXC) fell 3.5%. Among the four constituent stocks of Nasdaq 100, JD.com fell by more than 3%, NetEase fell by 2%, Baidu fell by 3.7%, and Pinduoduo fell by 7.7%. Among other stocks, Alibaba fell 3.7%, Bilibili fell 4.5%, Tencent ADR fell more than 5%, iQiyi fell nearly 14%, "three fools in making cars" fell all the way, Xiaopeng Motors fell more than 5%, and received JPMorgan Chase increased its holdings by 6.0517 million shares on September 1, involving approximately HK$423 million. Shangmax Technology fell by more than 31%, Kingsoft Cloud fell by more than 16%, Futu Holdings fell by nearly 11%, and Tencent Music fell by nearly 8%. But Yixian E-commerce rose nearly 5%, Jinko Energy rose 3.6%, and Ranshi Medicine and Beike rose more than 2%.
European natural gas price surged and fell back to , while European stocks rose slightly. The European STOXX 600 index closed up 0.24%, the euro zone STOXX 50 index fell 0.5% intraday and closed up 0.3%. Most sectors and all national stock indexes rose, retail stocks rose 1.7% to lead, and oil and gas stocks fell 2.5% against the market. Uniper, Germany's largest natural gas importer, fell 5%, and its CEO warned that the worst of the energy crisis has not yet arrived, and that gas wholesale prices are 20 times higher than two years ago. German stocks rose nearly 1% to lead major euro zone members, while Russian stock index fell more than 2%.
well-known hedge fund billionaire investment manager at Pershing Square Bill Ackerman said there are signs that U.S. inflation is calming, but the Fed is expected to raise interest rates to more than 4% and stay high for about a year. Denmark's Saxo Bank believes that in the context of tightening financial environment and the global energy crisis, the profit margins of consumer discretionary stocks are under more backlog, and the stock prices will further weaken.
10-year U.S. Treasury yields of 12 weeks highest, 30-year yields of 8 years, and two-year yields of 15 years high
Investors weigh the latest economic data. Although concerns about recession continue to exist, the market is still worried that the European and American central banks will maintain hawkish interest rate hikes. European and American bond yields rose sharply on Tuesday, and US bond yields for each term even soared in double digits.
10-year U.S. Treasury yield rose by 16 basis points to 3.35%, the highest since June 15. The yield on 30-year long bonds rose by more than 15 basis points and exceeded 3.50%, hitting a new high since 2014. The more monetary policy-sensitive biennial yield rose nearly 12 basis points to 3.51%, approaching its highest since November 2007 set in session last Friday. The yields of US 3- to 10-year Treasury bonds rose by at least 15 basis points during the session. At the same time, short-term bond yields continue to be higher than long-term bond yields, highlighting the concerns of recession.
The ECB hawkish interest rate hike is imminent, the euro zone benchmark 10-year German bond yield once rose 8 basis points to 1.64%, and the 10-year Italian bond yield once rose 5 basis points to 3.99%, which rose above the 4% mark last week to hit a high of more than two months. It is reported that the ECB is considering raising interest rates by 60 basis points instead of the market's expected 75 basis points, and the euro zone, which is more sensitive to monetary policy, generally fell.
At the same time, the new British Prime Minister was appointed, and the 10-year British bond yield rose above 3% for the first time since 2014, and the 30-year British bond yield rose to 3.391%, a sharp increase of nearly 19 basis points.
Oil prices returned to the level before the conflict between Russia and Ukraine, Berry oil fell by more than 3%, fell by 92 US dollars, and natural gas in Europe and the United States surged and fell
Following the unexpected production cut of OPEC+ yesterday, concerns about the prospect of hawkish interest rate hikes in the European and American central banks triggered economic recession and sluggish demand again prevailed. WTI October crude oil futures closed up 0.01 US dollars, an increase of 0.01%, at $86.88 per barrel. Brent
NYMEX US natural gas futures fell more than 7% to a four-week low. Media said that US natural gas production reached 100.9 billion cubic feet in the week on September 3, an increase of more than 9% from the same period in 2021. Expectations of lower temperatures in the future also affect demand.
US oil WTI fell by the deepest $0.67 or 0.8%, reaching $86, falling from a daily high of $89, falling more than $3, approaching the lowest since January this year, that is, the level before the outbreak of the Russian-Ukrainian conflict, which exceeded $90 on Monday. International Brent fell by $3.43 or 3.6%, down from $92 and the lowest level in mid-February this year, and also returned to the level before the outbreak of the Russian-Ukrainian conflict.
Some analysts said that the new British Prime Minister Tras will introduce measures to lower energy prices and directly suppress oil prices. The symbolic significance of OPEC+'s slight production cut of 100,000 barrels per day in October is greater than its practical significance and does not help support oil prices.
At the same time, Saudi Aramco raised the oil prices sold to the United States in October and lowered all oil prices sold to Europe that month. Russia's energy minister said setting a price cap on the country's oil imports would lead to more Russian oil shipments to Asia.
After the main futures contract jumped 35% on Monday due to Russia's indefinite cutoff of gas transmission to Europe, the TTF Dutch natural gas futures, as the European benchmark, surged and fell back on Tuesday, falling 13% to 214 euros/megawatt-hour in the end of the session, falling more than 2% and less than 240 euros. ICE UK natural gas futures fell more than 7% in the last session, and fell more than 16% in the intraday and fell below the 400p integer, which rose nearly 37% yesterday. Both natural gas futures are close to their lows in more than three weeks. Germany, which is also a European benchmark, fell nearly 4% in the next year.
USD hit a 20-year high in two days, the euro hovered 0.99 20-year low, the Japanese yen 24-year low
, a basket of USD index DXY, which measures against six major currencies, returned to above the 110 mark and refreshed the 20-year high with a daily high of 110.55. The euro fell 0.6% against the dollar and hit a 20-year low, hovering at 0.99, which fell below the mark for the first time in 20 years yesterday.
pound rose nearly 100 points against the US dollar, or 0.8%, and rose by 1.16 on the day, rebounding from a two-and-a-half low of 1.15 yesterday, but there is uncertainty in the fiscal policy of the new government. The yen fell 1.8% against the US dollar, falling below 143 and continuing to hit its lowest level in 1998.
Although RBA has raised interest rates for the fifth consecutive time and has raised interest rates by 50 basis points, the Australian dollar fell to a seven-week low against the dollar. Onshore RMB closed at 6.9545 yuan against the US dollar, down 215 points from Monday's night closing. offshore RMB fell at 6.98 at one point.
Recently, the mainstream encryption digital currency , which is closely linked to the stock market, especially technology stocks, has mostly fallen. Bitcoin, the largest leader in market value, fell more than 4% and fell below $19,000, the lowest in two and a half months. Ethereum, the second largest market capitalization, fell nearly 2% and was less than $1,600.
Spot gold once fell below 1700 USD, Lun Aluminum fell to a 4-month low of 17 html, Lun Copper rose for three consecutive days and stood firm at 7600 USD
USD hit another 20-year high. Euro-US Central Bank hawks interest rate hikes lingering, COMEX December gold futures closed down 0.6% at $1712.90 per ounce.Spot gold fell below $1,700 for a time, and fell from a weekly high of $1,726 since August 30, which was hit by the Asian trading period, with a deepest drop of 0.6% during the day, pulling back nearly $27 from the daily high, approaching a seven-week low.
London base metals are mixed. Lun Copper rose for three consecutive days, standing above $7,600, and rebounded slightly from a one-month low. London aluminum fell by more than 1% and hit a 17-month low, with strong dollar and economic concerns surpassing Europe's impact of smelter production cuts. London nickel, which rose more than $900 yesterday, rose 4.5%, rose 0.5%, and London tin, which rose more than 2% yesterday, fell nearly $420, or fell nearly 2%.
France's largest aluminum smelter stopped production by 22% next week. The high energy prices have cut production capacity by 1 million tons, and the total output has dropped to the lowest since the 1970s. Some analysts say it will support aluminum prices. But both Citi and Saxo Bank believe that metal consumption will decline in the next few months of economic recession, and industrial metal prices are unlikely to rebound significantly before the dollar stops rising.
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