In the early morning of the 4th, Beijing time, U.S. stocks closed higher on Monday. U.S. Treasury yields fell, driving major stock indexes to rebound after experiencing a plunge in September. The market continues to pay attention to the Federal Reserve's monetary policy. Rumors of OPEC+ production cuts have driven crude oil prices to rise sharply. Credit Suisse is rumored to be the next Lehman Brothers company.
Dow Jones Industrial Average rose 765.38 points, or 2.66%, to 29,490.89 points; the Nasdaq rose 239.82 points, or 2.27%, to 10,815.43 points; the S&P 500 rose 92.81 points, or 2.59%, to 3,678.43 points.
U.S. Treasury yields fell sharply on Monday. The yield on the US 2-year US Treasury fell by about 19 basis points, setting a new daily low of 4.0290%. The yield on the 5-year Treasury bond fell 30 basis points to 3.874%. The 10-year U.S. Treasury yield fell by more than 24 basis points, setting a new daily low of 3.5655%. The 30-year U.S. Treasury yield fell by about 12 basis points, setting a new daily low of 3.6351%.
Last week, the yield on the 10-year U.S. Treasury bond exceeded 4%.
Raymond James analyst Tavis McCourt said: "It's quite simple now. If the 10-year Treasury yield rises, the stock market may continue to be under pressure. If the Treasury yield falls, the stock market will rise."
On Monday, the US economic data showed that the US ISM manufacturing index hit a new low in the past two and a half years, close to complete stagnation.
On Monday, the U.S. stock trading champion Tesla closed down 8.61%, the biggest single-day drop in the past four months, with a turnover of US$23.76 billion. Tesla has frequently released news during the weekend, including AI Day 2022, delivery data for the third quarter, expansion plans for the fourth quarter and next year. However, too much news does not mean that it has gained investors' recognition. Tesla's US stock market fell sharply against the trend on Monday.
Tesla held the highly anticipated "AI Day" on Friday night Eastern Time, and the prototype of the humanoid robot Optimus Prime Optimus was officially unveiled at the meeting. Tesla CEO Musk said Tesla's goal is to be able to mass-produce a "extremely powerful" robot, which costs about $20,000.
On October 2, Tesla released delivery data for the third quarter of 2022, with delivery volume of 343,830 units, a record high, but lower than Wall Street's expectations of about 358,000 units. Tesla blamed logistics transportation for the reason for the lower delivery volumes than expected, noting that many vehicles are "still in transit".
analysis pointed out that although Tesla's third-quarter delivery data set a new record, lower than expected numbers may not be enough to support Tesla's stock price in the coming weeks.
After Tesla released its latest delivery data, JPMorgan Chase took a "bearish" attitude towards Tesla. "We are still vigilant about Tesla's valuation and continue to believe that the price will drop significantly relative to our target price (-42%). Adverse factors include the intensification of competitive situation over time, the difference from traditional automakers is getting smaller and smaller, and may face valuation compression in the future."
JPMorgan analysts set Tesla's target price at $153 and maintained its "sell" rating.
No. 2 Apple closed up 3.08%, with a turnover of US$16.04 billion. Italian courts revoked 173 million euros antitrust fines to Apple and Amazon. Apple announced on Monday that it had 100 million songs on its Apple Music platform.
Morgan Stanley reported that data showed that Apple's App Store's revenue fell by about 5% in September, the largest drop in the business since the bank began modeling the data in 2015. Morgan Stanley analyst Erik Woodring wrote in a note Monday that the App Store business has declined in markets including the United States, Canada and Japan. The main reason for the decline in revenue is the revenue in games. Data shows that game revenue fell by 14% in September. Woodring wrote that Apple users may reduce spending due to economic concerns. Analysts also expect Google App Store Valley sales to decline.
No. 4 Nvidia closed higher by 3.07%, with a turnover of US$6.78 billion. Nvidia reportedly intends to do the same thing as Apple, and they rejected TSMC's price increase plan in 2023. Industry insiders said that TSMC will further raise its OEM quotation next year. Depending on the process, the price increase will be about 6% to 9%, but the disclosed increase will be lowered to 3%-6%.
Bank on Monday reiterated its "buy" ratings to semiconductor companies such as Nvidia, Maywell Technology, AMD and Broadcom. The bank said that despite investors' concerns, the companies could still benefit from increased cloud spending.
No. 5 Amazon closed up 2.55%, with a turnover of US$5.85 billion. Italian courts revoked 173 million euros antitrust fines to Apple and Amazon.
Bank on Monday cut its bank’s target share prices on Amazon and eBay to reflect the growing uncertainty at the macroeconomic level and the negative impact of a strong dollar on company performance. Although Bank of America's credit and debit card data showed that US online spending increased by 20 basis points year-on-year to 3.5% in August, this growth rate lags behind the bank's expectations for a more explosive growth rate.
No. 6 AMD closed up 4.34%, with a turnover of US$5.34 billion.
No. 10 Exxon Mobil closed up 5.28%, with a turnover of US$2.16 billion. Driven by the sharp rise in oil prices, the crude oil sector in the U.S. stock market rose on Monday. No. 12, Occupy Petroleum, closed up 4.25%, with a turnover of US$1.63 billion. Chevron, No. 15, closed up 5.61%, with a turnover of US$1.45 billion.
No. 16 Johnson & Johnson closed down 0.1%, with a turnover of US$1.41 billion. UBS lowered Johnson & Johnson's target price from $180 to $175.
No. 20th place JPMorgan Chase closed up 3.23%, with a turnover of US$1.29 billion.
below are the 20 most active stocks trading on the day of the US stock market (by transaction volume):
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