• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
1. The three major U.S. stock indexes closed slightly lower. The Dow Jones Industrial Average fell 0.13% to 50,121.4 points, the S&P 500 was flat at 6,941.47 points, and the Nasdaq Composite fell 0.16% to 23,066.47 points. IBM fell more than 6%, and Salesforce fell more than 4%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index fell 0.57%, with Google and Microsoft falling more than 2%. The Nasdaq China Golden Dragon Index fell 0.65%, with Hesai Technology falling nearly 6% and Huya falling more than 5%. 2. The three major European stock indexes closed mixed. The German DAX fell 0.53% to 24,856.15 points, the French CAC40 fell 0.18% to 8,313.24 points, and the UK FTSE 100 rose 1.14% to 10,472.11 points. 3. International precious metals futures generally closed higher, with COMEX gold futures rising 1.53% to $5107.80 per ounce and COMEX silver futures rising 4.60% to $84.08 per ounce. 4. The most active US crude oil contract closed up 1.45% at $64.89 per barrel; the most active Brent crude oil contract rose 1.15% to $69.60 per barrel.The China Earthquake Networks Center officially determined that a 4.7-magnitude earthquake occurred in the South China Sea at 06:27 on February 12, with a focal depth of 10 kilometers.February 12th - A surprisingly strong surge in US non-farm payrolls weighed on the US Treasury market, with traders reducing their bets on a Federal Reserve rate cut this year. Short-term Treasury bonds were hit hardest, with the two-year Treasury yield rising 6 basis points to around 3.51%. The money market now expects the next Fed rate cut to occur in July, rather than the previously anticipated June. Asian stock index futures diverged after US stocks closed flat. Futures indicated a rise in Japanese stocks after Thursdays holiday, while the Australian benchmark stock index contract fell. This volatility suggests that the current strength of the US economy is offsetting market desire for lower borrowing costs, supporting risk sentiment. Bret Kenwell of eToro said investors should welcome the US jobs report, even if it gives the Fed more room to keep interest rates unchanged. He noted, "If the labor market does stabilize, that will be constructive for both the economy and the markets."On February 12, Ukrainian President Volodymyr Zelenskyy refuted reports that he would announce elections on February 24, emphasizing that elections could only be held if all security guarantees were in place. Furthermore, Zelenskyy denied reports that the United States had threatened to withdraw its security guarantees to Ukraine if it did not announce a presidential election date, stating, "Some of Ukraines partners have raised the issue of elections, but Ukraine itself has never brought it up. However, Ukraine is absolutely ready for elections. Achieving this goal is simple: as long as there is a ceasefire, elections can be held."February 12th - Federal Reserve Governor Jerome Milan said on Wednesday that he would be "very happy" to remain at the Fed long-term if asked, but the decision is not in his hands. Milans term has expired, making it the only remaining position available for President Trump to nominate former Fed Governor Peter Warsh as his nominee for Fed Chair, unless Fed Chair Jerome Powell resigns when his term expires in mid-May. Powell has not yet indicated his intention to leave. In an interview, Milan stated, "What happens next this year depends on many factors: whether there is a vacancy, the presidents choice, and the Senates confirmation decision."

NASDAQ Composite Treading Water Ahead of US Congressional Elections, CPI Data

Steven Zhao

Nov 08, 2022 17:10

微信截图_20221108164650.png


With many of the major players staying away ahead of Tuesday's U.S. congressional elections and Thursday's significant consumer inflation report, the major U.S. stock indices are trading mixed near the midpoint of the session on Monday.


The blue-chip Dow Jones Industrial Average is currently trading at 3262.61, up 159.39 or +0.49%, at 17:00 GMT. The tech-heavy NASDAQ Composite is trading at 10441.84, down 33.41 or -0.32%, while the benchmark S&P 500 Index is at 3771.75, up 1.20 or +0.03%.


If the GOP wins, a split government will result.


Republican presidential candidate Joe Biden's strategy, which may include potential broad tax increases and a windfall tax on energy companies, may be hampered by a split government, analysts say, with the GOP capturing the House of Representatives and possibly the Senate.


According to Wells Fargo economists, "in this election outcome scenario, we doubt we would make any significant revisions to our projections for GDP growth, inflation, or the federal funds rate as a result of the election."


Instead, investors see a status quo and political deadlock that prevent significant policy changes as a positive outcome for stocks.

CPI Data Available

Traders are preparing for a potential surprise in Thursday's consumer price index (CPI) report following Friday's unexpected increase in the jobless rate in the United States.


On a historical basis, economists anticipate that inflation will once more register at extraordinarily high levels.


According to FactSet, the consensus CPI report projection predicts an increase in inflation of 0.7% for October. It is anticipated that the so-called core rate of inflation, which doesn't include volatile food and energy prices, will increase by 0.5%. That would come after a reading of 0.4% for the CPI as a whole and 0.6% for the core CPI in September.


According to Factset, the consensus CPI projection calls for an annualized increase in the CPI of 8.0% and an increase in core inflation of 6.5%. From the September data, when the annual inflation rate was 8.2% overall and 6.6% for core, that would only indicate a small set of gains.