The third quarter of the United States has a strong start to the earnings season. On Friday (15th) Goldman Sachs’s glamorous earnings report led to the rise of bank stocks. Bitcoin broke through the $60,000 mark, encouraging blockchain concept stocks to rise, and Dow Jones closed Red over 380 points, also set the best single-week performance since June.
In terms of political and economic news, it is rumored that the United States Securities and Exchange Commission (SEC) is preparing to start trading the first Bitcoin futures ETF in the United States next week. On Friday, the crypto asset management company Valkyrie submitted a Form 8-A registration application document, Nasdaq The exchange has agreed to list the ETF and then waits for the SEC’s approval.
U.S. President Biden admitted on Friday that the 3.5 trillion U.S. dollar spending plan may shrink to 2 trillion U.S. dollars this year, but he will continue to negotiate to get the remaining part. Biden formally signed a bill on Thursday to raise the debt ceiling by US$480 billion and postpone the debt default period to early December, so that the United States temporarily exempted the threat of a debt default crisis.
On Friday, the Chinese authorities broke the silence on Evergrande. Zou Lan, Director of the Financial Markets Department of the People’s Bank of China (Central Bank), pointed out on Friday that the financial liabilities of Evergrande Group are less than one-third of the total liabilities, and the creditors are relatively dispersed. The overall risk is Overflow is controllable.
The White House announced on Friday that it will lift entry restrictions for foreign travelers who have been fully vaccinated, including land borders and air travel, starting from November 8. This news will boost the tourism industry in the next few months, but the expectation of rising demand for aviation fuel has exacerbated the possibility of supply shortages.
The new crown pneumonia (COVID-19) epidemic continues to spread globally. Before the deadline, according to the real-time statistics of Johns Hopkins University in the United States, the number of confirmed cases worldwide has surpassed 239 million, and the number of deaths has exceeded 4.88 million. The cumulative number of confirmed cases in the United States has exceeded 44.82 million, and the cumulative number of deaths has exceeded 722,000. A total of 34.03 million cases have been confirmed in India, and 21.61 million cases have been confirmed in Brazil.
The performance of the four major US stock indexes on Friday (15th):
- The US stock Dow Jones index rose 382.2 points, or 1.09%, to close at 35,294.76 points.
- The Nasdaq Index rose 73.91 points, or 0.5%, to close at 14,897.34 points.
- The S&P 500 index rose 33.11 points, or 0.75%, to close at 4,471.37 points.
- The Philadelphia Semiconductor Index rose 23.2 points, or 0.70%, to close at 3,314.4 points.
Focus stocks
The five kings of science and technology only blocked Facebook. Apple (AAPL-US) rose 0.75%; Facebook (FB-US) fell 1.15%; Alphabet (GOOGL-US) rose 0.15%; Amazon (AMZN-US) rose 3.31%; Microsoft (MSFT-US) rose 0.48% .
Dow Jones constituent stocks led the gains by Goldman Sachs. Goldman Sachs (GS-US) rose 3.8%; Visa (V-US) rose 2.58%; American Express (AXP-US) rose 2.51%; Pioneer Heavy Industries (CAT-US) rose 2.41%; Walgreens and Boots (WBA) -US) fell 3.64%.
Fei half of the constituent stocks received more dividends. Intel (INTC-US) rose 1.04%; AMD (AMD-US) rose 0.12%; Applied Materials (AMAT-US) fell 0.36%; Micron (MU-US) fell 0.18%; Qualcomm (QCOM-US) rose 1.20% ; NVIDIA (NVDA-US) rose 0.53%.
The ADR of Taiwan stocks rose across the board. TSMC ADR (TSM-US) rose 2.04%; ASE ADR (ASX-US) rose 1.03%; UMC ADR (UMC-US) rose 1.46%; Chunghwa Telecom ADR (CHT-US) rose 0.18%.
Corporate News
Apple (AAPL-US) rose 0.75% to US$144.84 per share. Wall Street ignored the news of Apple’s production cuts. Many people had anticipated the disruption in the supply chain and believed that sales had not dropped sharply, just delayed. Apple stock has risen for two consecutive weeks, up 4% from the October 4 low.
Goldman Sachs (GS-US) rose 3.80% to $406.07 per share. Goldman Sachs’s third-quarter earnings report on Friday was eye-catching. Net profit per share increased by 66% to US$14.93, which was much higher than the estimate of US$10.18 per share, indicating that the wave of global corporate mergers and acquisitions has made U.S. investment banks profitable.
Alcoa (AA-US), the world’s third-largest alumina producer, soared 14.71% to US$56.00 per share. Alcoa announced a strong financial report after the market on Thursday, and also announced the launch of a $500 million new stock repurchase program.
Modena (MRNA-US) fell 2.31% to $324.21 per share. Foreign media quoted sources on Friday to report that the U.S. Food and Drug Administration (FDA) is deciding to postpone the authorization of Modena’s new crown vaccine for adolescents to examine whether it will increase the risk of myocardial inflammation.
Bitcoin surpassed more than $60,000 for the first time since April, and cryptocurrency and blockchain-related stocks rose. Riot Blockchain (RIOT-US) soared 6.62%.
Economic data
- The annual growth rate of retail sales in the United States reported 13.9% in September, up from 15.1% before
- The monthly growth rate of retail sales in the United States reported at 0.7% in September, which is expected to be -0.2%. The previous value was revised up from 0.7% to 0.9%
- New York Fed October Manufacturing Index reported 19.8, expected 25.0, previous value 34.3
- The initial value of US consumer confidence in October was 71.4, expected to be 73.5, and the previous value was 72.8
Wall Street Analysis
After a period of volatility in September, the main index of US stocks benefited from the support provided by the financial reports of large banks this week. David Keller, chief market strategist at Stockcharts.com, predicted on Friday that the stock market will find support and rise soon. , September and October are often the weakest seasonal parts of the year, while November and December are often the strongest seasonal parts of the year.
Peter Tuz, President of Chase Investment Counsel: “We are beginning to enter a profit-driven rebound, and hope that this rebound will continue. As companies announce their latest financial reports in large numbers, we will see real results in the next few weeks.”
The figures are updated before the deadline, please follow the actual quotation
