News from the Financial Associated Press on May 9 (Editor Xia Junxiong)On Monday Eastern Time, the three major indexes were mixed, with only the Dow falling. Broader indexes were little changed as the market awaited key inflation data.
As of the close, the Dow Jones Index fell 0.17% to 33,618.69 points; the S&P 500 Index rose 0.05% to 4,138.12 points; the Nasdaq Index rose 0.18% to 12,256.92 points.
(Minute chart of the three major indexes, source: TradingView) Regional bank stocks jumped at the opening, but as the transaction progressed, the gains narrowed significantly, and some regional bank stocks even turned down. The KBW Nasdaq Regional Bank Index fell 2.8% .
Westpac United Bank rose by 30% at the beginning of the market, but only rose by 3.65% at the close; Alliance West Bank once rose by more than 14% at the beginning of the market, and finally closed only slightly higher by 0.50%.
Traders are awaiting key data that will inform the Fed’s future path, the CPI report due on Wednesday and the PPI data due on Thursday.
Edward Moya, senior market analyst at Oanda, said investors were debating whether the banking crisis had finally eased. “This week won’t be as busy as last week, but it’s still important,” Moya added.
Chicago Fed President Goolsbee warned on Monday that the central bank’s assessment of the impact of turmoil in the banking sector, which is tightening credit conditions, has become more difficult due to a protracted bipartisan standoff in the U.S. Congress over the debt ceiling.
The Federal Reserve’s financial stability report released on Monday said that rising interest rates and geopolitics pose short-term risks, and continued banking pressure may cause a significant economic downturn.
Hot Stock Performance
Most of the large technology stocks rose, Apple fell 0.04%, Microsoft fell 0.64%, Tesla rose 1.02%, Google rose 2.08%, Amazon rose 0.17%, Meta rose 0.21%, Nvidia rose 1.64%, Netflix rose 2.62%, AMD rose 5.79%.
Popular Chinese concept stocks were mixed. The Nasdaq China Golden Dragon Index fell 0.13%, Alibaba rose 0.11%, JD.com rose 0.06%, Pinduoduo fell 1.74%, Weilai Automobile rose 1.47%, and Xiaopeng Motors rose 1.44%. , Ideal Auto rose 3.43%, Bilibili fell 1.33%, Baidu fell 0.78%, and NetEase rose 2.53%.
company news
[Musk: Tesla’s Texas lithium smelter will produce lithium needed for 1 million cars]
On Monday local time, Tesla CEO Elon Musk said at the groundbreaking ceremony of his lithium smelter in Texas, which is expected to produce lithium for about 1 million cars.
[Alphabet will release an artificial intelligence update at the Google I/O conference to demonstrate creative writing and coding skills]
Alphabet, Google’s parent company, plans to announce a series of generative artificial intelligence updates, including the launch of a general-purpose large language model (LLM). According to internal documents about Google I/O seen by CNBC, the company will unveil its latest and most advanced large-scale language model, PaLM 2. PaLM 2 includes more than 100 languages and has been operating under the internal codename “Unified Language Model”. It also has extensive coding and maths tests as well as creative writing.
[Boeing nears order with Ryanair for up to 150 737 Max planes]
Boeing is close to winning an order for up to 150 737 MAX 10 planes from Irish carrier Ryanair and is expected to announce the contract as soon as May 9. The deal could include an option to purchase up to 50 additional aircraft.
[Lucid’srevenueinthefirstquarterof1494millionUSdollarsanalystsexpected1978millionUSdollars]
U.S. electric car upstart Lucid’s revenue in the first quarter was US$149.4 million, analysts expected US$197.8 million; car deliveries in the first quarter were 1,406 vehicles, analysts expected 1,835 vehicles; the loss per share in the first quarter was US$0.43, analysts expected US$0.40.
[PayPal’s first-quarter net revenue of $7.04 billion analysts expected $6.98 billion]
PayPal (NASDAQ:) Holdings Inc. adjusted earnings per share of $1.17 in the first quarter, analysts expected $1.10; net revenue in the first quarter was $7.04 billion, analysts expected $6.98 billion; the overall payment amount in the first quarter was $354.51 billion, Analysts expect $349.54 billion; the full-year adjusted earnings per share are expected to be about $4.95 (the company previously expected $4.87), analysts expect $4.88; the adjusted earnings per share for the second quarter are expected to be $1.15-1.17, analysts expect $1.17.
[Western Digital third-quarter net revenue of 2.80 billion US dollars analysts expected 2.70 billion US dollars]
Western Digital’s third-quarter adjusted loss per share was $1.37, analysts expected a loss of $1.55; third-quarter net revenue was $2.80 billion, analysts expected $2.70 billion; third-quarter operating expenses were $758 million, analysts expected Analysts expect US$739.5 million; the adjusted loss per share is expected to be US$1.90-2.20 in the fourth quarter, and analysts expect a loss of US$1.21; fourth-quarter revenue is expected to be US$2.40 billion-2.60 billion, and analysts expect US$2.87 billion.
[Due to the fall in beef and pork prices, Tyson Foods “unexpected loss” in the second quarter and lowered its full-year revenue forecast]
Tyson Foods on Monday reported an “unexpected loss” for the second quarter and lowered its full-year revenue forecast due to lower beef and pork prices. The weaker-than-expected results suggest cash-strapped consumers are cutting back on meat consumption in an environment of high inflation, the report said.
Tyson Foods fell more than 16% on Monday.