On Friday (20th), technology stocks rose to provide support for the market. With Microsoft, Cisco and Salesforce leading the rise, the four major indexes collectively closed in red, and the Dow Jones rose by more than 200 points.
Due to concerns about the new crown variant virus and the Federal Reserve (Fed) may reduce its bond purchases (Taper), the main indexes are swallowed weekly. The Dow Jones fell 1.1% for the week, the S&P fell nearly 0.6% for the week, and the Nasdaq fell 0.7% for the week.
Dallas Federal Bank President Robert Kaplan unexpectedly said on Friday that if economic growth slows sharply due to the Delta virus, he may need to “fine-tune” his monetary policy views.
Fed Chairman Bauer will speak on the “Economic Outlook” at the Jackson Hole Central Bank Annual Meeting at 10 am Washington time (10 pm Taipei time on the 27th) next Friday (27th). Taper released more details.
In terms of geopolitics, US President Biden defended the withdrawal of Americans from Afghanistan on Friday. Biden said that after a one-hour pause, flights from Afghanistan have resumed, and he promised to let all Americans leave Afghanistan.
The White House announced on Friday that U.S. President Biden will nominate former Undersecretary of State Nicholas Burns as ambassador to China. Burns once advocated that Europe, the United States, and Japan join forces to suppress China. He also supported Taiwan’s participation in the hawks against China. World Health Assembly (WHA).
The new crown pneumonia (COVID-19) epidemic continues to spread around the world. Before the deadline, according to the real-time statistics of Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 210 million, and the number of deaths has exceeded 4.41 million. A total of 37.38 million cases have been diagnosed in the United States, and the cumulative number of deaths has exceeded 625,000. A total of more than 32.35 million cases have been confirmed in India, and a total of 20.49 million cases have been confirmed in Brazil.
The performance of the four major US stock indexes on Friday (20th):
- The Dow Jones Index rose 225.96 points, or 0.65%, to close at 35,120.08 points.
- The Nasdaq gained 172.88 points, or 1.19%, to close at 14,714.66 points.
- The S&P 500 index rose 35.87 points, or 0.81%, to close at 4,441.67 points.
- The Philadelphia Semiconductor Index rose 20.63 points, or 0.64%, to close at 3,256.50 points.
Qi Yang, the five kings of science and technology. Apple (AAPL-US) rose 1.02%; Facebook (FB-US) rose 1.20%; Alphabet (GOOGL-US) rose 1.29%; Amazon (AMZN-US) rose 0.38%; Microsoft (MSFT-US) rose 2.56% .
Dow Jones constituent stocks closed higher. Cisco (CSCO-US) rose 1.66%; Home Depot (HD-US) rose 1.93%; Walgreens and Boots (WBA-US) rose 1.58%; Intel (INTC-US) fell 0.82%; Coca-Cola (KO-US) ) Fell 0.39%.
Fei’s semi-constituent stocks were mixed. AMD (AMD-US) rose 0.92%; Applied Materials (AMAT-US) fell 1.55%; Micron (MU-US) fell 0.071%; Qualcomm (QCOM-US) rose 1.05%; NVIDIA (NVDA-US) rose 5.14 %.
Taiwan stocks ADR received more dividends. TSMC ADR (TSM-US) fell 2.17%; ASE ADR (ASX-US) rose 0.71%; UMC ADR (UMC-US) rose 1.67%; Chunghwa Telecom ADR (CHT-US) rose 0.10%.
Microsoft (MSFT-US) rose 2.56% to $304.36 per share. The company will significantly increase the subscription price of Microsoft 365 Business Edition, and the new price will take effect in 6 months.
NVIDIA (NVDA-US) soared 5.14% to US$208.16 per share. Officially disclosed information shows that the Speaker of the US House of Representatives, Nancy Pelosi, bought NVIDIA shares and options worth $1.5 million on July 23. In addition, the UK’s antitrust authority, the Competition and Markets Authority (CMA), recommended on Friday that an in-depth investigation of the transaction be launched.
Tesla (TSLA-US) rose 1.01% to $680.26 per share, and its share price has fallen 6.78% so far this year. On Thursday, Tesla unveiled the artificial intelligence (AI) training computer system DOJO, the 7nm DOJO D1 chip, and the surprise launch of Tesla’s next large-scale project “Tesla Robot” (Tesla Bot).
JPMorgan Chase analysts said that with the strengthening of the Beijing government’s supervision, the Chinese stock market has sold off, but in the long run, investment in China’s concept stocks is definitely going on as always. Under bargain hunting, popular Chinese concept stocks generally rebounded on Friday, with Tencent Holdings ADR (TCEHY-US) rising 4.32%, Didi (DIDI-US) rising 3.75%, and Pinduoduo (PDD-US) rising 3.48%.
Wall Street Analysis
Market concerns about whether the Fed will begin to tighten monetary policy earlier than expected have eased. US stocks closed in red on Friday, ending a turbulent week.
Goldman Sachs analyst Chris Hussey said in a report that the spread of Delta variants has put pressure on consumption and production, and affected economic growth.
Keator Group partner Matthew Keator said that at the beginning of this week, everyone saw traders weighing and adjusting their asset allocation before the release of the Fed meeting minutes. , sell the news) status.
Matthew Keator said that in history, the Jackson Hole Central Bank will attract a lot of attention from the market, but this year it will attract more. The Fed may use this opportunity to communicate their plans.
The figures are updated before the deadline, please follow the actual quotation