After nearly two days of sharp rise, US stocks entered a state of adjustment again on Thursday, and concerns about the geopolitical situation and the upside down of the US bond yield curve returned to the center of the stage. After yesterday's sharp rise, the major indexes, including the Nasdaq, are close to the downward trend line of the year, and further favorable conditions are needed to promote substantive breaking in the follow-up.
(NASDAQ daily chart, source: tradingview)
Although the event of the Federal Reserve's interest rate hike yesterday was robbed of the headlines by the sharp rise of China concept stocks and the Japanese earthquake, it is still a very important historical turning point for the market. Under the background that the Federal Reserve expects to raise interest rates in the remaining six FOMC meetings this year and the dot matrix indicates that the policy interest rate will reach 2.8% by the end of 2023, the yields of five-year and ten-year US bonds once hung upside down for the first time after March 2020, which is usually a bad signal for the economy.
Nicolas forest, global head of fixed income in candriam, said that this type of normalization of monetary policy does not always have a good outcome. While inflation is at an all-time high, the Fed's interest rate hike is a little late. The financial environment may become difficult, making the interest rate hike target of 2.8% too ambitious. It is easy to understand why the US bond yield is becoming more and more flat.
After yesterday's historic surge, China concept shares have also adjusted today, but there are also regulatory progress before the market.
market dynamics
As of 20:32 Beijing time, Dow Futures (June 2002 contract) fell 0.32%, and S & P 500 index futures fell 0.34%; Nasdaq 100 index futures fell 0.49%.
On the previous trading day, the three major indexes collectively strengthened, and China's Jinlong index soared 32.93%. As of the close, the S & P 500 index rose 2.24% to 435786; The NASDAQ index rose 3.77% to 1343655; The Dow Jones index rose 1.55% to 3406310.
The trading European market continued to follow the geopolitical news, but the decline of major stock indexes was relatively limited.
(European market trend on Thursday, source: Investing)
company information
["stock god" Buffett added positions in Western oil for three consecutive days]
According to the regulatory report submitted by Berkshire to the SEC, the company increased its holdings of 18.1 million western oil stocks in the first three trading days of this week, worth nearly $1 billion. This also means that since February 28, Berkshire has accumulated nearly $7 billion in Western oil. Affected by the decline in oil prices, Western oil fell 8.56% in the first three days of this week, and rose 3.66% as of Thursday.
[NVIDIA notifies the manufacturer that the chip cost should be reduced by nearly 10% to be transmitted to the consumer]
According to the latest disclosure of technology media "wccftech", graphics processing chip giant NVIDIA has informed the authorized manufacturer of graphics card (AIC) that its chip production cost has decreased by approximately 8% - 12%, and asked them to transmit this part of the price reduction to the system integrator (SI).
[KKR acquires Mitsubishi commercial and UBS joint venture real estate investment company]
Mitsubishi announced on Thursday that it would transfer 51% of the equity of its joint venture real estate investment company with UBS group to KKR at a price of 116 billion yen (about US $1 billion), and KKR's subsidiary would also acquire the remaining 49% of UBS's shares. It is reported that the main business of the joint venture is to manage assets for some Japanese real estate investment trusts.
[the basic price of Tesla Model y rear wheel drive version is increased by 15060 yuan to 316900 yuan]
According to Tesla China's official website, the price of rear wheel drive model y increased to 316900 yuan, an increase of 15060 yuan. The selling price of model y long endurance and high-performance version remains unchanged.
[Ding Dong buys vegetables and confirms that the problem reported by the media is true]
According to the financial associated press · new consumption daily on Thursday, Ding Dong was interviewed by Haidian District Market Supervision Bureau for buying vegetables due to the problems of using dead fish as live fish in the front warehouse and "turning over the bag" without authorization.
In this regard, Ding Dong's response to buying vegetables: our company has suspended the operation of the site for the first time. After the special investigation and rectification team with CEO Liang Changlin as the first responsible person, this problem is true. The company will immediately organize forces to investigate all front warehouses and service processes in the country, and conduct cross supervision, so as to strictly distinguish live fish from ice fresh fish, strengthen the registration and destruction of foods that have passed the best sales deadline, avoid similar situations from happening again, and take the initiative to report the investigation results, problems found and rectification plans to the competent government departments. As of press time, Ding Dong fell more than 20% before buying vegetables
[Yum! China increases repurchase authorization amount]
Before Thursday's trading, yum China, a Chinese restaurant chain giant, announced that the board of directors had authorized an increase of $1 billion in stock repurchase authorization, bringing the total repurchase authorization of the company to $2.4 billion.
events worthy of attention during US equities (Beijing time)
March 17
20:30 initial jobless claims from the United States to March 12, the total number of new housing starts in February, the total number of construction permits in February, and the Philadelphia Fed Manufacturing index in March
21:15 US industrial output in February
March 18
04:30 us to the week of March 12, foreign central banks held us treasury bonds
