Home » US stocks close: When will Taper stay in suspense during the year, S&P Nasdaq continues the carnival and hits new highs_Powell

US stocks close: When will Taper stay in suspense during the year, S&P Nasdaq continues the carnival and hits new highs_Powell

by admin

Original title: US stocks close: When will Taper stay in suspense during the year, S&P Nasdaq continues the carnival and hits new highs

US stocks close: When will Taper stay in suspense during the year, S&P Nasdaq continues the carnival and hits new highs

News from the Financial Associated Press (Shanghai, Edited by Ale),Fed Chairman Powell reiterated on Friday (August 27) that it will reduce bond purchases during the year and suppress the correlation with interest rate hikes. Market interpretation believes that the Fed will not raise interest rates immediately after the reduction and withdrawal.

Powell also said that stabilizing inflation near the 2% target is one of the Fed’s dual mission goals. Although “significant progress has been made” in this regard, there is still “a lot of work to be done” for another goal-“maximizing employment”.

Although Powell reiterated that he would reduce the scale of bond purchases during the year, this has already appeared in the minutes of the meeting announced by the Federal Reserve. And he did not disclose the behavior of reducing the time and extent of debt purchases, allowing investors to interpret his speech as “doves.” The three major U.S. stock indexes jumped.

(Source of the hourly chart of the S&P 500 Index: Yingwei Finance)

Michael Arone, chief investment strategist at State Street Global, said, “The Fed does not plan to raise interest rates anytime soon, and the market seems to be relieved. I think Powell is commendable for gradually reducing asset purchases and avoiding impulse.”

See also  Evolyn challenges Eurostar: goodbye to the monopoly on London-Paris trains

Adam Crisafulli, founder of Vital Knowledge, said that Powell spent most of his time refuting inflation concerns, showing that the Fed’s concerns about prices are far less nervous than the market and some people in the US government.

Market dynamics

As of the close, the Dow Jones Index rose 0.69% to 35,455.80 points; the S&P 500 Index rose 0.88% to a new high, to 4,509.37 points; the Nasdaq Composite Index rose 1.23% to a new high, to 15,129.50 points. The Dow has gained 0.96% this week, the Nasdaq has gained 2.82% this week, and the S&P 500 has gained 1.52% this week.

(Source of the daily chart of the Nasdaq Composite Index: Yingwei Finance)

During the day, most of the 11 sectors of the S&P 500 index closed gains. The energy sector rose more than 2.6%, the communications, raw materials, and financial sectors rose at least more than 1.3%, the healthcare sector fell more than 0.1%, and the utilities sector also fell slightly.

U.S. stocks ETFs generally closed up, regional bank ETFs rose more than 2.9%, energy industry ETFs rose more than 2.6%, banking ETFs rose more than 2.3%, semiconductor ETFs rose more than 1.8%, global aviation industry ETFs rose more than 1.5%, and Internet stock indexes ETFs and financial industry ETFs rose more than 1.3%, medical industry ETFs fell more than 0.1%, and public utilities ETFs fell 0.03%.

Hot stock performance

Large technology stocks generally rose, Facebook rose 2.26%, Google A rose 1.81%, Amazon rose 1.01%, Apple rose 0.72%, and Microsoft rose 0.21%. Internet celebrity technology stocks also generally rose, Nvidia rose 2.57%, Intel rose 1.43%

See also  Jiayuan Technology: Net profit in the first half of the year increased by 323.98% year-on-year to consolidate its position in the lithium battery copper foil market

New energy auto stocks were mixed. Tesla rose 1.53%, Weilai Motors fell 0.55%, Xiaopeng Motors fell 0.84%, and Ideal Motors fell 0.95%.

Most popular Chinese concept stocks fell and gave up some of their gains this week. Baidu fell 0.78%, JD fell 0.79%, Pinduoduo fell 1.28%, Tencent ADR fell 1.67%, Alibaba fell 3.49%, Weibo fell 10.71%, and NetEase rose. 1.64%.

China’s education stocks generally fell. Good Future fell 2.44%, Elite Education fell 2.77%, and Gaotu fell 5.53%.

Company report

[SEC will strengthen research on the “gamification” phenomenon of online brokerage transactions]

The U.S. Securities and Exchange Commission (SEC) said on Friday that it is stepping up investigations into the “gamification” of transactions used by online brokers and online investment advisors and the implications of trading behavior. Robinhood fell more than 1% at the beginning of the trading day and closed up 0.02%.

[Affirm: Amazon will adopt the company’s flexible payment solution]

According to reports, Amazon is working with Affirm to provide installment options for the first time on its e-commerce site. After the news was announced, Affirm’s stock price soared 40% after the market.

[Palantir invests US$25 million in Faraday Future]

According to documents submitted to the SEC last weekend, American data mining company Palantir invested US$25 million in electric vehicle startup Faraday Future in July this year. In addition, according to documents, the company has also signed a commercial contract with Faraday Future to use its software. Palantir rose 3.38%, and Faraday Future rose 5.90%.

[Chicago sued DoorDash and Grubhub, claiming that they created low fees to deceive customers]

See also  Zhonghuan: In 2020, the company's N-type products have a 60% market share and is expected to further increase in 2021_ 东方 Fortune.com

The City of Chicago filed two full-scale lawsuits against online ordering platforms DoorDash and Grubhub, accusing them of deceiving customers and adopting unfair commercial competition. DoorDash fell 1.60%.

[Man Utd re-signs Ronaldo]

British media reported on the 27th local time that Manchester United have confirmed that they have reached an agreement to re-sign Ronaldo. Manchester United said the agreement with the 36-year-old five-time Ballon d’Or winner depends on personal terms, visas and medical conditions. Manchester United’s US stocks rose 5.84%.Return to Sohu to see more

Editor:

Disclaimer: The opinions of this article only represent the author himself. Sohu is an information publishing platform. Sohu only provides information storage space services.

.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy