Home Business U.S. stocks closed: All three major indexes rebounded by more than 2%, harvesting a good start in the fourth quarter

U.S. stocks closed: All three major indexes rebounded by more than 2%, harvesting a good start in the fourth quarter

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U.S. stocks closed: All three major indexes rebounded by more than 2%, harvesting a good start in the fourth quarter
© Reuters. U.S. stocks close: All three major indexes rebound more than 2%, harvesting a good start to the fourth quarter

Financial Associated Press, October 4 (Editor Zhao Hao) U.S. stocks opened higher and closed higher on Monday (October 3), with the three major indexes collectively rising more than 2%.

As of the close, the Dow Jones index rose 2.66%, the largest one-day gain since June 24 this year, at 29,490.89 points; the S&P 500 rose 2.59%, the best performance since July 27, at 3,678.43 points; The Starq rose 2.27% to 10,815.43.

After all three major stock indexes closed at their lowest levels since 2020 on Friday, today’s notable rebound in stocks has given investors a sigh of relief from extreme pessimism. Sam Stovall, chief investment strategist at CFRA, said Monday’s gains were not surprising given how oversold the market was.

The “good start” in the fourth quarter brought some optimism to the participants in the US stock market. Stovall pointed out that, based on history, the market has a chance to rebound at the end of the year, because US stocks tend to perform relatively strongly in mid-term election years.

Stovall said that the S&P fell by more than 9% last month, and some of the latest US economic indicators were also weaker than expected. People may now speculate that “hey, maybe the Fed will not be so aggressive.” Therefore, today can see “global “Asset Pricing Anchor” – U.S. Treasury yields and the U.S. dollar fell together.

Tavis McCourt, equity strategist at Raymond James, said that the market today is simple, 10-year Treasury yields rise, and stocks may remain under pressure; but as long as Treasury yields fall, stocks rise.

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Top stock performance

Large technology stocks rose collectively, (by market value) Apple rose 3.08%, Microsoft rose 3.37%, Google rose 3.28%, Amazon rose 2.55%, and Meta rose 2.16%.

Most U.S. energy stocks were higher, with Exxon Mobil and Chevron both up more than 5%, and Occidental rising more than 4%.

Separately, Peabody Energy, the largest U.S. coal supplier, rose nearly 6 percent, while second-largest Arch Resources Inc rose more than 8 percent as a U.S. coal benchmark rose above the $200-a-ton mark.

New energy vehicle stocks were mixed. Tesla’s car deliveries in the third quarter fell short of market expectations, and its shares closed down 8.61%, the largest one-day drop in four months. Rivian fell 3.10% and Lucid rose 0.86%.

Most popular Chinese concept stocks rose, New Oriental rose 4.42%, Tencent Music rose 2.46%, Li Auto rose 1.96%, Baidu rose 1.69%, Alibaba rose 0.58%, Pinduoduo rose 0.11%, Jingdong fell 1.55%, Weilai fell 1.78 %, Xiaopeng Motors fell 1.84%.

Company news

[Apple’s latest supply chain list exposes new Chinese companies such as Wingtech Technology]

[Tesla’s 343,800 vehicle deliveries in the third quarter missed market expectations]

Tesla delivered 343,800 vehicles in the third quarter, compared with a market estimate of 357,900. Tesla delivered 325,200 Model 3/Y vehicles in the third quarter, compared with an estimated 349,800. Tesla delivered 18,700 Model S/X vehicles in the third quarter, compared with an estimated 16,100.

In terms of production, Tesla produced 365,900 vehicles in the third quarter, compared with an estimated 359,900; in the third quarter, MODEL S and MODEL X produced 19,900 vehicles, compared with an estimated 15,800; in the third quarter, the production of MODEL 3/Y was 346,000, and the forecast is Estimated at 356,700.

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(Source: Tesla’s official website)[General Motors’ U.S. sales in the third quarter increased by 24% year-on-year to 555,580 vehicles]

GM’s third-quarter U.S. sales rose 24% year-over-year to 555,580 vehicles, while Chevrolet’s BOLT and BOLT electric utility vehicle sales hit a record quarterly total of 14,709.

[Rivian produced 7,363 vehicles in the third quarter and delivered 6,584 vehicles]

Rivian produced 7,363 vehicles in the third quarter and delivered 6,584 vehicles. The company maintained its full-year production forecast of 25,000 vehicles, compared with analysts’ expectations of 26,273 vehicles.

[Toyota’stotalU.S.salesinSeptemberincreasedby17.1%year-on-yearto179050]

Toyota’s total U.S. sales in September rose 17.1% year-on-year to 179,050 units, with electric vehicle sales of 35,419 units in September, accounting for nearly 20% of the monthly total.

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