News from the Financial Associated Press, April 1 (edited by Shi Zhengcheng)On the last trading day of March, with the positive inflation data in the United States, the three major indexes all closed up by more than 1%, drawing a strong end to the market in the first quarter of this year with the trend of “three consecutive positives”.
As of the close, the S&P 500 Index rose 1.44% to 4109.31 points; the Nasdaq Composite Index rose 1.74% to 12221.91 points; the Dow Jones Index rose 1.26% to 33274.15 points. The performance of the three major indexes in the first quarter of this year also reflected the trend of the market. Among them, the Dow rose slightly by 0.38%, the S&P 500 rose by 7.03%, and the Nasdaq rose by 16.77%.
(Minute charts of the three major indexes, source: TradingView) However, Michael Gibbs, director of securities portfolio and technical strategy at Ruijie Financial, believes that there are undercurrents surging under the surface of this round of rebound. Although technology stocks have touched the position of last August, the proportion of stocks maintaining the 50-day moving average has decreased. In fact, this round of gains was driven by a small number of stocks.
Matt Maley, chief market strategist at Miller Tabak+, also said a move driven by a handful of stocks is not healthy. If there are no more sectors to join the rising team, the ending of the big technology blue chips turning down will be inevitable.
Hot Stock Performance
All 11 sectors of the S&P 500 closed higher on Friday, led by consumer discretionary (+2.62%) and real estate (+2.18%) sectors.
(Performance of the S&P 500 Index sector, source: Fidelity) The weight of technology continued to strengthen, with Apple up 1.56%, Microsoft up 1.50%, Google up 2.81%, Amazon up 1.26%, Tesla up 6.24%, Meta up 1.97%, Qualcomm rose 0.14%, AMD rose 0.13%, and Intel rose 1.81%.
Most of the Chinese concept stocks have entered a state of adjustment. The “split concept stocks” JD.com and Ali both fell by nearly 1%, Baidu fell 1.89%, Tencent Holdings ADR fell 2.06%, and Bilibili fell 6.11%.
company news
[The Cybersecurity Review Office launched a cybersecurity review of Micron’s products sold in China]
In order to ensure the security of the key information infrastructure supply chain, prevent network security risks caused by hidden product problems, and maintain national security, in accordance with the “National Security Law of the People’s Republic of China” and “Network Security Law of the People’s Republic of China”, the Cyber Security Review Office follows the “Network Security Review “Measures” to implement a cybersecurity review of products sold by Micron in China.
As of Friday’s close, Micron Technology closed down 4.36%.
[European Medicines Agency proposes to expand the scope of application of semaglutide]
On Friday local time, the European Medicines Agency announced that its Committee for Medicinal Products for Human Use (CHMP) had adopted a positive opinion on Wegovy (semaglutide), proposing to amend the marketing authorization terms of the drug so that It can be more widely used by adolescents aged 12 and over to meet the treatment needs of adolescent obesity and overweight. Wegovy is developed and produced by Novo Nordisk, a multinational pharmaceutical giant headquartered in Denmark. Once it came out, it was snapped up by consumers and continued to be in short supply.
[California truck emission reduction regulations authorized by the White House, Tesla, Rivian surge]
On Friday local time, the U.S. Environmental Protection Agency issued a proclamation authorizing California to implement radical truck emissions reduction reforms. The state-level legislation will require automakers to substantially increase sales of zero-emission heavy-duty trucks over the next decade or so, and commercial fleets will also need to meet the requirements for zero-emission trucks. Affected by this, Tesla closed up 6.24% on Friday and Rivian rose 7.50%.
In addition, Tesla will also disclose its first-quarter sales data this weekend, and the previous wave of price cuts has also made the market extremely optimistic about this figure. At present, the consensus forecast on Wall Street is 420,000 vehicles. If the final data is higher than this figure, it is also expected to boost the stock price performance. In the first quarter of this year, Tesla’s stock price has risen by 68%.
[Famous investor Carl Icahn bombards Illumina: the market value plummeted but the CEO salary doubled]
Icahn said in a statement to the media: “I would find it hilarious if Illumina’s stock price fell 63% because CEO Francis deSouza made such a ridiculous and questionable acquisition. It is reported that the CEO of the sequencing company Illumina received nearly $26.8 million in compensation last year, almost double the $14.3 million in 2021.
[Virgin Orbit failed to find “life-saving money” and its stock price plummeted 41%]
Virgin Orbit CEO Dan Hart announced at an all-hands meeting on Thursday afternoon that the company would cease operations for the “foreseeable future” and lay off 90% of its workforce after failing to secure the financing needed to stay afloat. . Affected by this, Virgin Orbit shares fell 41.19% to 20 cents on Friday.