Yingwei Financial Investing.com-On Tuesday, boosted by the higher-than-expected monthly rate of retail sales in the United States in October, market sentiment was high, and the three major US stock indexes closed higher. Among them, the U.S. stock electric car sector has been active. The “Tesla” killer Rivian has risen all the way since its listing, and has jumped to the world’s third-largest auto company by market value. Lucid Group’s stock price has also risen 23%, and Tesla has also ended its three-game losing streak. Recorded an increase of 4.08%.
In the latest report, Goldman Sachs began to forecast US stocks in 2022. The bank expects the S&P 500 Index to rise by 9% to 5100 points by the end of 2022.
It closed up 0.15% to 36142.22 points.
It closed up 0.39% to 4,70.90 points.
It closed up 0.76% to 15,973.85 points.
In terms of industry, among the six FAANMG technology stocks, Microsoft Corporation (NASDAQ:) closed up 1.02%, Meta (NASDAQ:) closed down 1.32%, Netflix (NASDAQ:) closed up 1.19%, and Google A (NASDAQ:) closed up. Down 0.39%, Apple (NASDAQ:) closed up 0.67%, and Amazon (NASDAQ:) closed down 0.14%. Other technology stocks, Nvidia (NASDAQ:) closed up 0.59%, American Supermicro Corporation AMD (NASDAQ:) closed up 4.07%, Intel Corporation (NASDAQ:) closed up 0.58%, Qualcomm (NASDAQ:) closed up 7.89% , Adobe (NASDAQ:) closed up 1.71%, Texas Instruments (NASDAQ:) closed down 0.38%, and Alibaba (NYSE:) closed up 1.13%.
In terms of ETFs, S&P 500 SPDR® S&P 500 (NYSE:) rose 0.40%, Nasdaq 100 Invesco QQQ Trust (NASDAQ:) rose 0.71%, gold SPDR® Gold Shares (NYSE:) fell 0.72%, gold mine VanEck Vectors Gold Miners ETF (NYSE:) fell 1.75%, silver iShares Silver Trust (NYSE:) fell 1.20%, American Petroleum Index Fund (NYSE:) rose 0.23%, China Technology ETF Invesco China Technology ETF (NYSE:) rose 0.99%, The ProShares Bitcoin Strategy ETF (NYSE:) fell 6.53%.
[Important Macro Information Affecting U.S. Stocks]
On Tuesday, the monthly rate of retail sales in the United States in October recorded 1.7%, a new high since March this year. It was much higher than the expected 1.2%. The previous value was revised up from 0.70% to 0.8%.
St. Louis Fed Chairman Brad said that the US core PCE is “quite high” and the Fed should adopt a tougher policy in the next few meetings.
According to media reports on Tuesday, U.S. President Biden stated that he will make a final decision on the candidate for the chairman of the Federal Reserve within about four days. The spending bill will be passed within a week.
U.S. Treasury Secretary Yellen said that various circumstances indicate that after December 15th, the Treasury Department will not have sufficient resources to provide funds for the government. It is expected that the Treasury Department’s unconventional measures will be exhausted on December 15th.
[Overnight individual stocks and industry important news, please]
The U.S. stock electric car sector soared collectively! Rivian’s market value rose to 153 billion US dollars, Lucid Group soared 23% on Tuesday
On Tuesday, the U.S. stock market’s electric car sector soared collectively. Tesla (NASDAQ:) closed up 4.08% to $1054.73; “Tesla killer” Rivian Automotive Inc (NASDAQ:)’s share price has soared since its listing, and its market value rose to US$153 billion on Tuesday, making it the world’s third largest car company; Lucid Group Inc (NASDAQ:)’s share price soared 23% to US$55.52. Previously, the company said it was third. The number of car reservations increased to 13,000 in the quarter; China’s “new car-making forces” collectively rose, Ideal Motors (NASDAQ:) rose 9.75%, Xiaopeng Motors (NYSE:) closed up 5.26%, and Weilai Motors (NYSE:) Closed up 0.25%.
On Tuesday, “Internet celebrity fitness stock” Peloton announced an additional US$1 billion in common stock. Affected by the news, the company’s share price soared by more than 15% to US$54.85. Previously, Bank of America Securities lowered the company’s target price from $112 to $74.
Before the US stock market on Tuesday, NetEase (NASDAQ:) announced its third-quarter financial report. The financial report shows that NetEase achieved revenue of 22.2 billion yuan (RMB, the same below), a year-on-year increase of 18.9%, exceeding market expectations; non-GAAP net profit attributable to shareholders of the company was 3.9 billion yuan. In terms of business segments, net income from online game services was 15.9 billion yuan, a year-on-year increase of 14.7%; Youdao net income was 1.4 billion yuan, a year-on-year increase of 54.8%; innovative business and other business net income reached 4.9 billion yuan, a year-on-year increase of 25.7% . As of the close of the day, NetEase’s stock price closed flat at $111.19.
On Tuesday, Qualcomm’s (NASDAQ:) Chief Financial Officer Akash Palkhiwala said at a company event that by fiscal year 2024, Qualcomm’s revenue is expected to exceed $46 billion, higher than analysts’ average estimate of $43.8 billion. Qualcomm predicts that by the 2024 fiscal year, the revenue of the Internet of Things business will reach 9 billion US dollars. This optimistic forecast stimulated the company’s stock price to rise, and Qualcomm’s stock price rose 7.9% on Tuesday, setting a record high.
Before the US stock market on Tuesday, The Home Depot Company (NYSE:) announced its 2021 third quarter results. The financial report shows that Home Depot’s Q3 sales were 36.82 billion U.S. dollars, a year-on-year increase of 9.8%, which exceeded market expectations.
Net profit was US$4.129 billion, a year-on-year increase of 20.3%. As of the close of the day, Home Depot’s stock price rose 5.73% to $392.33.
Before the U.S. stock market on Tuesday, Wal-Mart (NYSE:) announced its third quarter financial report for the 2022 fiscal year. The data shows that the company’s total Q3 revenue was US$140.525 billion, a year-on-year increase of 4.3%, and Q3 net profit was US$3.132 billion, a year-on-year decrease of 39.8%. In the third quarter, Wal-Mart’s same-store sales in the US increased by 9.2%, and a cumulative increase of 15.6% in the past two years. Looking ahead, Wal-Mart has raised its guidance for the whole year. It is expected that the same-store sales (excluding gas stations) in the United States will grow by more than 6% in fiscal year 2022; GAAP earnings per share are approximately US$5.00, and adjusted earnings per share are approximately US$6.40; Capital expenditure is about 13 billion U.S. dollars. It is estimated that Q4 US same-store sales will be approximately 5%. As of the close of the day, Wal-Mart closed down 2.55% to $143.17.
Before the US stock market on Tuesday, “Southeast Asia Tencent” Sea Ltd (NYSE:) announced the third quarter of 2021 financial report. The financial report shows that Sea Q3’s revenue was US$2.689 billion, an increase of 121.8% year-on-year. The net loss of Q3 was US$571 million, compared with a net loss of US$425 million in the same period last year. Looking ahead, Sea has raised its e-commerce revenue guidance for this year, and it is estimated that e-commerce revenue will range from US$5 billion to US$5.2 billion in 2021 (previously US$4.7 billion to US$4.9 billion). As of the close of the day, Sea shares closed down 3.82% to $329.91.
Pfizer has reached a licensing agreement allowing generic drug manufacturers to produce affordable new crown drugs for 95 low- and middle-income countries
Pfizer Pharmaceuticals (NYSE:) said in a statement on Tuesday that it has signed an agreement with the United Nations-backed Pharmaceutical Patent Consortium (MPP). Once authorized by the regulatory agency, the experimental drug will be authorized to produce generic drugs. It can be produced by manufacturers and can be supplied to countries and regions that account for about 53% of the global population. The statement pointed out that Pfizer will not receive royalties from sales in 95 low-income countries, and as long as the new crown epidemic is listed as a public health emergency of international concern, Pfizer will also not collect royalties from sales in middle-income countries.
Canaan Technology’s third-quarter revenue was 1.32 billion yuan, a single-quarter revenue record
On Tuesday, Canaan Technology (NASDAQ:) announced the 2021 third quarter results report. Data show that Canaan Technology recorded a total revenue of 1.32 billion yuan (RMB, the same below) in the third quarter, setting the best revenue record for a single quarter in history. The net profit attributable to the parent in the third quarter was 467.2 million yuan, and a loss of 86.4 million yuan in the same period last year. On the same day, Canaan Technology closed up 5.42%.
Best Group’s net loss in the third quarter was 651 million yuan, and its stock price fell 3% after the market
After the US stock market on Tuesday, Best Group (NYSE:) announced the third quarter of 2021 financial report. According to the financial report, Best Group’s third-quarter revenue was 6.812 billion yuan, down 14.6% year-on-year, and a net loss of 651 million yuan, compared with 640 million yuan in the same period last year. Best Group’s shares fell more than 3% after the market on Tuesday.
[Individual stock rating]
Robinhood: Atlantic Securities released a research report that due to the slowdown in user growth in the third quarter, Robinhood downgraded its rating from “overweight” to “neutral” and lowered its target price from $65 to $35. The bank’s analyst John Heagerty said that the stock’s original overweight rating was “based on sustained rapid growth and the gradual expansion of operating profit margins”, but Robinhood’s forecast for the fourth quarter “except for the cessation of user growth in the third quarter” At least in the short term, user growth will be much lower than the company’s initial expectations.”
Dingdong Maicai: Daiwa Securities updated its report, reiterating the Dingdong Maicai buy rating, and raised the target price from US$33 to US$36. Daiwa Securities stated in the report that based on the solid performance in the third quarter of 2021, it is expected that the gap between Dingdong Maicai and its competitors’ total commodity transactions will continue to widen in 2022, and that there will be more Dingdong Maicai in 2022. A city’s breakeven will drive the market to revaluate its share price.
[Wednesday important stocks earnings forecast]
Before the market: Lowe’s (NYSE:), Target (NYSE:), Bilibili (NASDAQ:), Baidu (NASDAQ:)
After-hours: Nvidia (NASDAQ:), Cisco Systems (NASDAQ:), Zhongtong Express (NYSE:), Happy Times (NASDAQ:)
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(Edit: Chen Han)