US stock pre-market: Dow futures fell more than 250 points, Tesla hit a two-year low
$Dow Jones Industrial Average(.DJI.US$ Yingwei Financial Investing.com - Before the market on Thursday (15th), US stock index futures continued their decline after the interest rate meeting. Previously, although the Federal Reserve cut interest rate hikes, it said it would continue to raise interest rates until 2023, until interest rates reached 5.1%. Federal Reserve Chairman Jerome Powell (Jerome Powell) also stressed that there are no plans to suspend interest rate hikes.
Within a day, the US will release a large number of data, including retail sales and unemployment benefits. If economic data is weak, it is expected to raise expectations that the Fed will shift due to the recession, thereby providing some comfort to the market. Some analysts still expect that the Federal Reserve will suspend interest rate hikes next year due to the economic slowdown.
Seema Shah, chief global strategist at Principal Asset Management, stated, “The Federal Reserve is still very secretive about the possibility of a recession, but given that most officials believe that risks tend to decline, it can be said that they are far more concerned about the economic outlook than they are willing to admit.”
Standard Chartered said that the slowdown in US economic activity will provide sufficient reason for the Federal Reserve to suspend interest rate hikes in March next year.
On the previous trading day, US stocks fell, with the Dow down 0.42%, the S&P 500 down 0.61%, and the NASDAQ down 0.76%. The Nasdaq China Golden Dragon Index rose 0.50%.
As of 20:31 Beijing time (08:31 a.m. EST), the US stock market on Yingwei Financial Investing.com showed that Dow futures fell 252.9 points, or about 0.74%, to 33,713.50 points; S&P 500 futures fell 38.1 points or about 0.95% to 3,957.20 points; and NASDAQ 100 futures fell 140.4 points, or about 1.2%, to 11,600.50 points.
Pre-market stocks
Tesla (NASDAQ: TSLA) fell 1.26% to $154.83, a new low since November 2020, after falling for three consecutive trading days before falling 12.43% this week.
On Wednesday local time, US Securities Regulatory Commission (SEC) documents showed that Tesla CEO Elon Musk (Elon Musk) sold 22 million Tesla shares worth about 3.58 billion US dollars. Over the past year, the total number of Tesla shares sold by Tesla reached nearly 40 billion US dollars.
MSD (NYSE: MRK) fell 0.30%, AstraZeneca (NASDAQ: AZN) fell 0.70%, and the US Food and Drug Administration (FDA) will extend the new complementary drug application (SNDA) for 3 months for AstraZeneca and Lynparza, a prostate cancer drug owned by MSD, to allow more time to review the two companies' applications.
Grab Holdings (NASDAQ: GRAB) fell 2.11%, and the company told employees on Wednesday that it was introducing cost-cutting measures to deal with the uncertain macroeconomic situation. These include freezing most recruitment, freezing executive wages, and cutting travel and expense budgets.
Novavax (NASDAQ: NVAX) fell 9.98%, and the company announced plans to issue an additional $125 million in shares, and the net proceeds will be used for general corporate use and other purposes.
Goldman Sachs Group (NYSE: GS) fell 1.40%, and Goldman Sachs plans to cut investment banking bonuses by at least 40%.
Citigroup (NYSE:C) fell 1.09%. Citigroup announced today that it will gradually close its personal banking business in mainland China and will continue to seek the possibility of selling individual businesses in mainland China's personal banking business separately, according to a report by the Financial Services Association. Citi said that the business adjustment did not involve corporate and institutional customer business, and reiterated that it will continue to firmly develop its corporate and institutional customer business in mainland China.
Leading US real estate company Lenner (NYSE: LEN) fell 3.90%. Although the company's fourth-quarter results were better than expected, new orders are expected to slow down as mortgage interest rates continue to rise.
Apple (NASDAQ: AAPL) fell 1.13%. Netflix (NASDAQ: NFLX) fell 1.16%, Microsoft (NASDAQ: MSFT) fell 0.86%, Amazon (NASDAQ: AMZN) fell 1.44%, Google's parent company Alphabet (NASDAQ: GOOG) fell 1.47%, and Facebook's parent company Meta Platforms (NASDAQ: META) fell 1.56%.
Within a day, the US will release a large number of data, including retail sales and unemployment benefits. If economic data is weak, it is expected to raise expectations that the Fed will shift due to the recession, thereby providing some comfort to the market. Some analysts still expect that the Federal Reserve will suspend interest rate hikes next year due to the economic slowdown.
Seema Shah, chief global strategist at Principal Asset Management, stated, “The Federal Reserve is still very secretive about the possibility of a recession, but given that most officials believe that risks tend to decline, it can be said that they are far more concerned about the economic outlook than they are willing to admit.”
Standard Chartered said that the slowdown in US economic activity will provide sufficient reason for the Federal Reserve to suspend interest rate hikes in March next year.
On the previous trading day, US stocks fell, with the Dow down 0.42%, the S&P 500 down 0.61%, and the NASDAQ down 0.76%. The Nasdaq China Golden Dragon Index rose 0.50%.
As of 20:31 Beijing time (08:31 a.m. EST), the US stock market on Yingwei Financial Investing.com showed that Dow futures fell 252.9 points, or about 0.74%, to 33,713.50 points; S&P 500 futures fell 38.1 points or about 0.95% to 3,957.20 points; and NASDAQ 100 futures fell 140.4 points, or about 1.2%, to 11,600.50 points.
Pre-market stocks
Tesla (NASDAQ: TSLA) fell 1.26% to $154.83, a new low since November 2020, after falling for three consecutive trading days before falling 12.43% this week.
On Wednesday local time, US Securities Regulatory Commission (SEC) documents showed that Tesla CEO Elon Musk (Elon Musk) sold 22 million Tesla shares worth about 3.58 billion US dollars. Over the past year, the total number of Tesla shares sold by Tesla reached nearly 40 billion US dollars.
MSD (NYSE: MRK) fell 0.30%, AstraZeneca (NASDAQ: AZN) fell 0.70%, and the US Food and Drug Administration (FDA) will extend the new complementary drug application (SNDA) for 3 months for AstraZeneca and Lynparza, a prostate cancer drug owned by MSD, to allow more time to review the two companies' applications.
Grab Holdings (NASDAQ: GRAB) fell 2.11%, and the company told employees on Wednesday that it was introducing cost-cutting measures to deal with the uncertain macroeconomic situation. These include freezing most recruitment, freezing executive wages, and cutting travel and expense budgets.
Novavax (NASDAQ: NVAX) fell 9.98%, and the company announced plans to issue an additional $125 million in shares, and the net proceeds will be used for general corporate use and other purposes.
Goldman Sachs Group (NYSE: GS) fell 1.40%, and Goldman Sachs plans to cut investment banking bonuses by at least 40%.
Citigroup (NYSE:C) fell 1.09%. Citigroup announced today that it will gradually close its personal banking business in mainland China and will continue to seek the possibility of selling individual businesses in mainland China's personal banking business separately, according to a report by the Financial Services Association. Citi said that the business adjustment did not involve corporate and institutional customer business, and reiterated that it will continue to firmly develop its corporate and institutional customer business in mainland China.
Leading US real estate company Lenner (NYSE: LEN) fell 3.90%. Although the company's fourth-quarter results were better than expected, new orders are expected to slow down as mortgage interest rates continue to rise.
Apple (NASDAQ: AAPL) fell 1.13%. Netflix (NASDAQ: NFLX) fell 1.16%, Microsoft (NASDAQ: MSFT) fell 0.86%, Amazon (NASDAQ: AMZN) fell 1.44%, Google's parent company Alphabet (NASDAQ: GOOG) fell 1.47%, and Facebook's parent company Meta Platforms (NASDAQ: META) fell 1.56%.
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