Ahead of this week’s quarterly earnings release
Tax sales on Apple and Alphabet are expanding
Ford announces a discount of up to 9% on electric vehicles
Rivian, Lucid, etc. all plummeted at once
“We are not going to give up land to anyone”
When Ford Motors, an American car manufacturer, declared a price-cutting war against Tesla, an electric vehicle specialist, the stock prices of related companies immediately fell. Driving the atmosphere, the main stock indexes on the New York Stock Exchange also closed on the 30th (Eastern Time in the United States from here on), increasing the decline. This year, sales of the electric vehicle industry expanded, which led the rise in the New York stock market in the United States, and is interpreted as the effect of growing concern about the performance of semiconductor companies. Investors are paying attention to the results of this week’s Big Tech performance announcement and the regular meeting of the Federal Open Market Committee (FOMC) hosted by the Federal Reserve System of the US Central Bank (Fed·Fed).
On the 30th, major stock indexes fell together on the New York Stock Exchange. In order of greatest decline, the Philadelphia Semiconductor Index, which includes semiconductor cap stocks, and the Nasdaq Composite Index, which focuses on technology stocks, fell 2.67% and 1.96%, respectively, from the previous trading day. The Standard & Poor’s (S&P) 500 Index and the Dow Jones 30 Industrial Average, which focus on large-cap stocks, fell 1.30% and 0.77%, respectively. Investors are in a mood to sell stocks, bearing in mind the lower guidance of Microsoft (MSFT ↓ 2.20%), the second largest market cap, and the performance shock of Intel (INTC ↓ 0.75%), the ‘semiconductor giant’.
If you look at stocks related to electric vehicles, on this day Ford Motors (F ↓2.94%) cuts the price of electric vehicles by 1.2-8.8% depending on the modelHe said. As price competition in the electric vehicle industry is anticipated, shares of other electric vehicle companies Rivian and Lucid fell, including Tesla (TSLA ↓6.32%), which cut the price before Ford, 9.03% and 8.70%, respectively . Previously, John Murphy, a researcher at Bank of America, noted that “Tesla has declared a price war,” and “However, we have to consider that many car manufacturers are currently losing money in the vehicle sector electricity.”
What does Ford apply the discount to Mustang Mach-E in. Although there are differences between models, the price is reduced by $600 to $5900 per unit, resulting in a new price of $46,000 to $60,000. On average, that would be $53,000, similar to a Tesla Model Y. On this day, Marin Zaza, chief customer officer of Ford’s electric vehicle division, said, “We will not give in to anyone,” he explained.
Ford ranked third in the US car market last year after General Motors (GM↓-4.37%) and Toyota. In terms of electric vehicles only, Ford is in second place (7.6%) following Tesla (65%), which is in first place during the same period.
Meanwhile, on this day Shares of major tech companies reporting earnings this week are fallingI did it. Representative examples include Apple (AAPL ↓ 2.01%), the largest market cap company, and Alphabet (GOOGL ↓ 2.45%), the parent company of Google. Also, among advanced semiconductor design companies, the stock prices of AMD (↓ 3.91%) and Nvidia (NVDA ↓ 5.91%) plunged.
on the 31st before the New York Stock Exchange opened GMafter the market closed, US semiconductor companies AMDand Western Digital (WDC↓1.62%) reports quarterly earnings. next After the Fed announced the results of the FOMC meeting on the 1st, When the stock market closes meta(META ↓3.08%) announces earnings. In addition After the market closed on the 2nd, Apple, Alphabet, and Amazon As well as Qualcomm(QCOM ↓1.33%) a Ford, Starbucks(SBUX ↓0.57%) also revealed quarterly results.
Sales of technology companies grew again on this day, but on Wall Street, the atmosphere predicts ‘bull market 2023’. The basis is that the stock market has been on the rise for almost a month this month. First of all, Sam Stovall, chief investment strategist at CFRA Research, said, “If you analyze stock market trends after World War II, in a year that ends in a bull market in January, the S&P 500 tend to rise by an average of 11.5% as the remaining 11 months of the year also rise.” analyzed. Stovall also explained that the average annual growth rate of the S&P 500 index since World War II has been around 9%, but especially if the previous year ends in a bear market, if a rebound occurs in the following year, the an average increase of 14%, which stands out.
Especially It is also worth noting that if the S&P 500 index rises by 5% or more in January, the index rise rate reaches 30% throughout the year.turn it off. In this regard, Ryan Detrick, chief strategist at Carson Group, said, “If you look at past data, there have been about five occasions when the index has risen more than 5% in January.” However, the overall growth rate for the year was 28.90%,” he explained.
Meanwhile, the US dollar rose in the foreign exchange market on the same day. The Dollar Index, which shows the value of the US dollar against six major currencies, rose 0.30% to 102.23 at 5:32 pm on the same day.
※ See you on Maeil Business Newspaper Overseas Stock YouTube and Telegram ‘Monthly Monthly’ and YouTube ‘Mijuda’ (every Monday and Thursday at 8:00am)