© Reuters.
Investing.com – US stock futures edged higher before the market opened on Friday (19th) after top bipartisan US Congressmen said they would not allow the US to default on its debt , suggesting that a deal to raise the debt ceiling is likely, although it may be delayed a critical moment.
The rating agency Moody’s also believes that the parties will eventually reach an agreement. William Foster, senior credit officer at Moody’s, said: “Political leaders have been very clear and aware that default is not an option. So from a rating perspective, in terms of how we view default risk, this is a good thing.”
In addition to the debt ceiling, another focus of the day is the speech of the Chairman of the Federal Reserve Jerome Powell (Jerome Powell) This is Powell’s first public appearance since the May 3 interest rate meeting. The data depends. However, a number of Fed officials recently emphasized that the process of raising interest rates may not be completely over, and if inflation does not decrease, interest rates may still be raised again.
In addition, John Williams, president of the New York Fed, permanent voting member of the FOMC, and Fed governor Michelle Bowman will also deliver speeches within the day.
As of 20:52 Hong Kong time (08:52 am Eastern Time), Investing.com’s US stock quotes showed they rose 0.3%, and rose 0.06%.
Individual stocks before the market opens
Foot Locker (NYSE: ) plunged 25% and lowered its full-year guidance, citing a difficult macroeconomic environment.
US farm machinery giant Deere & Company (NYSE: ) rose 3.4 percent and raised its net profit forecast for 2023 due to strong orders.
Applied Materials (NASDAQ: ) fell 1.6%, despite stronger-than-expected quarterly revenue, but the company expects sales to decline in future quarters due to a downturn in the memory chip market. At the same time, research firm KeyBanc believes that Applied Materials’ stock price has little room for further improvement after its previous strong rise.
Ross Stores (NASDAQ: ) fell 0.7% after second-quarter profit guidance missed expectations, although it raised its profit forecast for last year.
Pharmaceutical company Catalent (NYSE: ) fell 5.3%, delaying its quarterly results and receiving notice from the New York Stock Exchange that it did not meet listing standards.
Disney ( Disney ) (NYSE: ) fell 0.8%, canceling plans to build a corporate park in Florida.
Facebook parent Meta Platforms (NASDAQ: ) fell 0.21% after company executives announced in a Q&A session with employees that the company will begin layoffs next week, its latest round of massive layoffs that could affect on thousands of workers.
Occidental Petroleum Corporation (NYSE: ) rose 1.46% Between May 16 and 18, Berkshire bought about 3.46 million shares of Occidental Petroleum at a price of more than 200 million US dollars, and raised its share ratio to 24.4%.
Taiwan Semiconductor Manufacturing Co (NYSE: ) fell 0.22% after sources said wafer starts increased due to higher orders for NVIDIA (NASDAQ: ) A100 and H100 AI GPUs.
Tesla (NASDAQ: ) rose 0.37%. Apple Inc (NASDAQ: ) rose 0.41%; Netflix (NASDAQ: ) fell 0.56%, after rising 9% yesterday; Microsoft Corporation (NASDAQ: ) fell 0.30%; Amazon (NASDAQ: ) rose 0.34%; Google parent company Alphabet (NASDAQ) 🙂 ) rose 0.87%.
Chinese stocks
China Internet ETF KraneShares CSI China Internet (NYSE: ) fell 0.19%.
Futu Securities (NASDAQ: ) fell 0.18%, while Tiger Securities (NASDAQ: ) rose 4.29%.
Weilai Automobile (NYSE:) (HK:) rose 1.02%, Li Auto (NASDAQ:) (HK:) rose 1.64%, and Xiaopeng Motors (NYSE:) (HK:) rose 0.11%.
Bilibili (NASDAQ: ) (HK: ) fell 0.33%, and iQiyi (NASDAQ: ) rose 0.19%.
Alibaba (NYSE:) (HK: ) fell 1.60%, JD.com (NASDAQ:) (HK: ) fell 0.67%, and Pinduoduo (NASDAQ: ) fell 0.18%.
Baidu (NASDAQ: ) (HK: ) fell 0.35%. NetEase (NASDAQ: ) (HK: ) rose 1.56%.
other markets
Economic Data and Events
For more economic information, visit Investing.comeconomic calendar.
[WelcometotheChineseFacebookwebsite/@Investingcoma[CroesoiddilyngwefanTsieineaiddFacebook/@InvestingcomaTweet/@HkInvesting, share more fresh ideas! 】
recommended reading
Editor: Liu Chuan
