Investing.com – After the financial reports of several bank stocks were released last Friday, the focus this week is still on the performance reports of heavyweight stocks. The most attention should be the streaming media platform Netflix (NASDAQ: ) and the electric car company Tesla ( NASDAQ :).
In addition, we need to pay attention to the release of some economic data this week, including the Beige Book of the Federal Reserve’s economic situation and the speeches of several Fed officials; Governor Lagarde delivered a speech; the press conference held by the State Council Information Office on the operation of the national economy on Tuesday also needs attention.
European and American stock markets
Last week, a number of economic data in the United States unexpectedly fell. The latest retail sales in March announced on Friday fell by 1% month-on-month, which was far worse than market expectations. The market speculated that the Fed’s interest rate hike cycle was coming to an end, and optimism increased. good. However, data showing that the U.S. consumer market is shrinking sparked concern among investors and subsequently dragged down U.S. stocks.
In terms of data, the U.S. Department of Commerce announced that retail sales fell by 1% in March, falling for two consecutive months. The decline was greater than the expected 0.5%. Eight of the 13 retail categories recorded declines, with gas station sales plunging 5.5%, the biggest drop since April 2020. As for March industrial production rose 0.4%, better than the expected 0.2% increase.
In addition, the initial value of the University of Michigan consumer confidence index in April rose to 63.5 from 62 in March, better than the expected 62.1. At the same time, inflation expectations for the next year jumped from 3.6% in March to 4.6%, higher than the expected 3.7%, and inflation expectations for 5 to 10 years remained at 2.9% for 5 consecutive months.
As of last Friday’s close, it fell 143 points or 0.42% to 33,886 points; fell 0.21% to 4,137 points; fell 0.35% to 12,123 points.
What needs to be focused on is that the US stock earnings season debuted this week, kicked off by banking stocks last week. Bespoke Investment pointed out that JP Morgan Chase (NYSE: ), Citigroup (NYSE: ), Wells Fargo (NYSE: ) and other banking giants announced their quarterly results last week, reflecting that the banking crisis that began in early March did not damage the overall banking industry. The market sentiment towards quarterly results news tends to be optimistic.
This week, blue-chip performance is still the most important focus of the market. The first to appear is still the financial giants. Charles Schwab (NYSE: ) will take the lead on Monday, reflecting whether securities firms have been damaged during the banking crisis. Second, Bank of America (NYSE: ) and Goldman Sachs (NYSE: ) will announce their quarterly results on Tuesday, which will also reflect how much the performance of financial giants has been impacted by the high inflation and high interest rate environment.
Specifically, JPMorgan Chase benefited from the Federal Reserve’s interest rate hike, and its profit in the first quarter surged 52% to $12.62 billion, a record high. The adjusted profit per share was $4.32, which was better than expected. JPMorgan Chase (JPM) surged 7.55% to $138.73 per share on Friday, its best one-day performance since November 2020.
At the same time, Citigroup also reported good news. Citigroup’s net profit in the first quarter increased by 7% year-on-year to US$4.6 billion, and its adjusted net profit per share reported US$1.86, both of which were better than Wall Street’s expectations. Citigroup (C) surged 4.78% to $49.56 per share.
Wells Fargo’s first-quarter net profit climbed 45% to $13.34 billion, and its adjusted net profit per share was $1.23, both better than analysts’ expectations. Wells Fargo (WFC) closed 0.05% lower on Friday to 39.64 per share. Dollar.
In addition, UnitedHealth Group (NYSE: ), the most weighted Dow component stock, also reported good results and slightly raised its financial forecast. However, investors are worried that policy changes next year will affect short-term Medicare Advantage profits. UnitedHealth (UNH) tumbled 2.74% to $511.79 a share on Friday, snapping a six-session winning streak.
At the same time, Boeing (NYSE: ) suspended delivery of 737 MAX aircraft due to parts quality problems, and its stock price plunged 5.56%, making it the worst-performing Dow component stock. In addition, Tesla (Tesla) Singapore’s Model 3 and Model Y cut prices by up to 5%. The stock price once fell 2.09%, and it still closed down 0.48%.
In terms of European stocks, last Friday, the market rebounded 0.58% to 466 points, which was the 4th day of consecutive gains. 38 points; it closed at 7871 points, earning 0.36% or 28 points.
Notably, European Central Bank President Christine Lagarde said at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington that the ECB is ready to act if necessary given that inflation remains high.
In addition, the French industrial giant Schneider ( ) rose 1.57% on Friday to 150.42 euros.
asian stock market
In terms of A-shares, last Friday, the market closed at 3,338 points, up 19 points or 0.6%, with a turnover of 478.345 billion yuan. Last week, the stock index rose by 0.32%. It closed at 11,800 points, up 60 points or 0.51%, with a turnover of 636.677 billion yuan; at 2,428 points, up 22 points or 0.93%.
It should also be noted that it is currently down 0.27%; it is currently at 2.852%.
In terms of Hong Kong stocks, last Friday, it closed at 20,438 points, up 94 points or 0.46%, and regained the 50-day line for the first time since February 20; summing up the four trading days of the whole week, the Hang Seng Index rose 107 points or 0.5% ; Closed at 6,914 points, up 38 points or 0.6%; slightly up 0.1%, to close at 4,164 points; fell 1.7% for the week.
Still need to pay attention, it closed at 20,324 points, down 119 points, 115 points lower than the closing price of the Hang Seng Index on Friday, with 14,001 contracts traded.
Other Asian stocks closed at 28,493 points, up 336 points or 1.2%; Japanese stocks rose 3.54% last week; closed at 2,571 points, up 9 points or 0.38%; closed at 7,560 points, up 39 points or 0.53%; fell 1.05% , at 1,063.43 points.
commodity market
Crude oil prices rose 36 cents, or 0.4%, to settle at $82.52 a barrel. Front-month WTI crude oil futures prices closed up 2.3% last week, and have risen for the fourth consecutive week; the price for June delivery rose 22 cents, or 0.3%, to close at $86.31 a barrel, closing up 1.4% last week, and has continued Up for the fourth week.
It is worth noting that last week the International Energy Agency (IEA) warned that the production cuts of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) may lead to an earlier than expected supply shortage in the crude oil market this year. Four weeks up.
The May contract rose 5.3% to settle at $2.11 per million Btu, recovering from levels below $2 per million Btu earlier and up 5.1% last week.
In the gold market, last Friday, the price of the June contract fell by US$39.50, or 1.9%, to US$2,015.80 an ounce. The price of gold futures in the most recent month fell by 0.5% last week. It also retreated sharply, falling as much as 2.34%, reaching as low as $1992.3 an ounce.
Foreign exchange market
In the foreign exchange market, at the end of last Friday, it rose 0.56% to 101.58. It hit a one-year low of 100.78 and then pulled up in late trading. Nevertheless, the index still fell 0.5% for the week, closing black for five consecutive weeks.
The U.S. announced earlier that some items of retail sales in March were not as weak as economists expected. At the same time, a Fed official warned that the central bank must continue to raise interest rates to suppress inflation.
In terms of national debt, it once rose by 8.6 basis points to 3.537%, and interest-sensitive ones even rose by 16 basis points to 4.137%.
It should be noted that on Friday, it once set a new one-year high in intraday trading, and fell 0.5% to $1.0991 in late trading, giving up Thursday’s rise and rising by about 0.8% last week. It rose 0.9 percent to 133.75 yen.
And giving up most of the previous day’s gains, the Australian dollar fell 1.1% to US$0.6708, closing up 0.5% for the week, and the New Zealand dollar fell 1.4% to US$0.6204, dragged down by today’s decline, closing 0.8% lower for the week.
As of press time, Investing.com’s market data shows that it is currently reported at 6.8814; at 6.8714.
Finally, it climbed as much as 2.41% to about $31,000.
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(Editor: Li Shanwen)