Although Powell's statement relative to hawks failed to scare off bulls yesterday, when he woke up, the market entered a state of worrying about recession, and the three major futures indexes generally fell in front of the market.
Charalambos pissouros, research director of JFD group, interpreted that Powell seems to be insisting on raising interest rates by 50 basis points in the next few meetings, but if inflation does not come down, he has not completely ruled out the opportunity to raise interest rates by a single 75 basis points in the coming months. With this in mind, we cannot confidently say that the recent stock market rebound is the beginning of the bullish reversal, but should be regarded as an adjustment fluctuation.
Henry Peabody, manager of MFS asset management fixed income fund, said he suspected that at some point, the liquidity of the market might be challenged, but so far this has not happened.
External economic data didn't help either. Inflation in the UK today reached a post Thatcher high, while new car sales in Europe recorded a tenth consecutive month of weakness.
market dynamics
As of 20:29 Beijing time, Dow Futures (June 2002 contract) fell 0.47%, and S & P 500 index futures fell 0.64%; Nasdaq 100 index futures fell 0.95%.
On the previous trading day, US stocks rebounded collectively. As of the close, the S & P 500 index rose 2.02% to 408885; The NASDAQ index rose 2.76% to 1198452; The Dow Jones index rose 1.34% to 3265459.
The European market also entered a state of shock after opening on Wednesday, and most stock indexes fluctuated flat.
(trend of European stocks on Wednesday, source: Investing)
company information
[the US retail giant fell 20% before the relay storm target]
In the U.S. retail department store industry, target department store, second only to Wal Mart, disclosed its earnings before Wednesday. Although comparable sales increased by 3.3% year-on-year, its net profit in the last quarter was only $1.01 billion, a half of $2.1 billion in the same period last year, and EPS of $2.16 was also significantly lower than the analyst's expected $307. The company said that rare high costs and logistics problems have seriously affected profits.
Similar to Wal Mart, which fell 11% yesterday, tajit fell 24.05% as of press time.
[musk announces the second AI day in August]
On Tuesday local time, Tesla CEO musk announced on social media that the company will hold the second "Ai day" on August 19, during which many cool updates will be released. On last year's AI day, Tesla released its supercomputer Dojo and concept humanoid Siasun Robot&Automation Co.Ltd(300024) .
[Microsoft cloud announces multiple adjustments in response to European antitrust complaints]
Brad Smith, vice chairman and President of Microsoft, said at the Bruegel think tank event on Wednesday that the company's cloud service department has begun to change so that similar services can better compete. Smith said that these changes include allowing cloud service providers to provide windows as a complete desktop operating system, giving longer-term price protection and modifying license terms.
[Google Russia subsidiary declares bankruptcy]
The website of the official registry of the Russian government shows that Google's subsidiary in Russia has filed for bankruptcy. It is reported that the company said that since March 22, the company has foreseen the situation of insolvency and is unable to fulfill its payment obligations, including paying wages and severance pay.
[Netflix announces 150 layoffs]
Netflix, a streaming media giant, announced on Tuesday that the company cut 150 jobs, accounting for about 2% of the total number of employees in the United States and Canada. The jobs affected are mainly concentrated in the United States. The company stressed that this adjustment is mainly driven by business demand and has nothing to do with personal performance.
events worthy of attention during US equities (Beijing time)
May 18
20:30 total number of new housing starts and construction permits in the United States in April
22:30 EIA crude oil inventory of the week from the United States to May 13
May 19
04:00 Philadelphia Fed chairman Huck delivered a speech on the economic outlook
