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At the close of the US stock market, the three major indices rose sharply, the NASDAQ rose more than 2%, and Apple's performance later rose 4.7%; regional bank stocks rebounded violently

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Steven000 wrote a column · May 5, 2023 21:48
The NASDAQ hit a new high for nearly eight months, and the S&P Dow continued to fall tiring throughout the week, and Tesla Apple rose more than 5% intraday, and regional bank stocks leveled Thursday's double-digit decline
The three major US stock indexes generally opened higher and all rose more than 1% in early trading. When the daily high is refreshed in midday trading, $Nasdaq Composite Index(.IXIC.US)$ An increase of nearly 2.5%, $S&P 500 Index(.SPX.US)$ An increase of more than 2.1%, $Dow Jones Industrial Average(.DJI.US)$ It rose more than 620 points, or nearly 1.9%. In the end, the three major indices rebounded after four consecutive days of collective decline.
At the close of the US stock market, the three major indices rose sharply, the NASDAQ rose more than 2%, and Apple's performance later rose 4.7%; regional bank ...
For the second day in a row, the NASDAQ, which hit the lowest level since last Wednesday on April 26, closed up 2.25% to 12235.41 points, setting a new high since September 12 last year set last Friday. The S&P closed up 1.85%, and both the NASDAQ recorded their biggest gains since last Thursday, at 4136.25 points. After hitting a new low since April 26 for two consecutive days, they did not continue to approach the closing low since March 30 set on April 26. The Dow closed 546.64 points, or 1.65%, breaking the biggest increase since January 6, when the December US non-farm payroll report was announced last Thursday, to 33674.38 points, leaving the closing low since March 30 set on Thursday.

Small-cap stock index with a focus on value stocks $Ishares Russell 2000 Value Etf(IWN.US)$ It closed up 2.39%, outperforming the market and breaking away from the low since October last year set on Thursday. Technology stocks are the most important $Invesco QQQ Trust(QQQ.US)$ It closed up 2.13%, reaching the highest level since August last year after falling for four consecutive days.
With Friday's sharp gains, some major US stock indexes rose cumulatively this week. The NASDAQ rose 0.07%, and the NASDAQ 100 rose 0.1% for two consecutive weeks. However, the Dow fell 1.24%, taking back the gains from last week's rebound, and fell sharply for the second week in the last seven weeks; the S&P, which rebounded last week, fell 0.8%, falling sharply in the third week of the last eight weeks; Russell 2000 fell 0.51%, falling for two weeks after two weeks of continuous gains.

The major sectors of the S&P 500 collectively closed higher on Friday, driven by rising crude oil $Energy Select Sector SPDR Fund(XLE.US)$ Leading the way with a rise of nearly 2.8%, where Apple is located $The Technology Select Sector SPDR® Fund(XLK.US)$ Up 2.7%, where bank stocks are located $Financial Select Sector SPDR Fund(XLF.US)$ A rise of more than 2.4%, where Tesla is located $Consumer Discretionary Select Sector SPDR Fund(XLY.US)$ An increase of 2%, $Industrial Select Sector SPDR Fund(XLI.US)$ $Materials Select Sector SPDR ETF(XLB.US)$ $Real Estate Select Sector Spdr Fund (The)(XLRE.US)$ An increase of more than 1%, $Consumer Staples Select Sector SPDR Fund(XLP.US)$ Up 0.93%. There are only three sectors that have seen strong gains this week. $The Technology Select Sector SPDR® Fund(XLK.US)$ Up 0.6%, $The Health Care Select Sector SPDR® Fund(XLV.US)$ with $Utilities Select Sector SPDR Fund(XLU.US)$ The increase was less than 0.1%. Among the eight sectors that had declined sharply, energy led the decline by 5.8%, and financial and communication services fell by more than 2%.
At the close of the US stock market, the three major indices rose sharply, the NASDAQ rose more than 2%, and Apple's performance later rose 4.7%; regional bank ...
At the close of the US stock market, the three major indices rose sharply, the NASDAQ rose more than 2%, and Apple's performance later rose 4.7%; regional bank ...
Most of the leading technology stocks have risen. $Tesla(TSLA.US)$ It closed up 5.5%, rising three consecutive days until the lowest level since April 19. Of the six major FAANMG technology stocks, the ones that have been falling for four consecutive days $Apple(AAPL.US)$ On the day after the quarterly report was published, it rose more than 5.1% in the intraday period. It rose more than 5% for the first time since November 30 last year, and closed 4.7%, the biggest closing increase on November 30 last year, and a new closing high since August 18 last year; $Microsoft(MSFT.US)$ It closed up 1.7%, rising two consecutive days until the highest level since January 7 last year; $Amazon(AMZN.US)$ It closed up 1.6%, rising four times in a row until the highest level since April 27; falling back on Thursday $Alphabet-A(GOOGL.US)$ It closed up 0.8% and did not continue to be close to the low since March 30 set last Wednesday; $Netflix(NFLX.US)$ It closed up 0.6%, rising for three consecutive days after falling for two consecutive days on Tuesday to a low since March 22; Facebook's parent company $Meta Platforms(META.US)$ It closed down more than 0.3%, falling for four days in a row, continuing to reach a new low since last Wednesday.
At the close of the US stock market, the three major indices rose sharply, the NASDAQ rose more than 2%, and Apple's performance later rose 4.7%; regional bank ...
Chip stocks also followed the general market's rebound after three consecutive days of overall decline. $PHLX Semiconductor Index(.SOX.US)$ with $iShares Semiconductor ETF(SOXX.US)$ It closed up about 2.3% and 2.2%, respectively. Among individual stocks, after a Microsoft spokesperson denied the news on Thursday that it was jointly developing AI chips with AMD, $NVIDIA(NVDA.US)$ It closed up nearly 4.1%. After news of AI chip development came out on Thursday, the reverse market closed up more than 6% $Advanced Micro Devices(AMD.US)$ It closed up 3.7%.
At the close of the US stock market, the three major indices rose sharply, the NASDAQ rose more than 2%, and Apple's performance later rose 4.7%; regional bank ...
Bank stocks have rebounded across the board. $KBW Nasdaq Bank Index(.BKX.US)$ It closed up 4.6%, breaking away from the low since September 2020 set by a four-day decline of nearly 4% on Thursday. $Spdr Series Trust S&P Regional Bkg Etf(KRE.US)$ It closed up 6.3%, ending four consecutive days of decline, breaking away from the lows since November 2020 and October 2020, which were refreshed on Thursday, respectively.
At the close of the US stock market, the three major indices rose sharply, the NASDAQ rose more than 2%, and Apple's performance later rose 4.7%; regional bank ...
Regional banks outperformed the general market. Among individual stocks, $PacWest Bancorp(PACW.US)$ It closed up 81.7%, the biggest intraday gain since the bank went public in 2000. It all equalized Thursday's closing decline of slightly more than 50%, and still falling more than 40% in the last five days. Of the three banks whose ratings were recently upgraded by J.P. Morgan Chase Bank, closed down 38.5% on Thursday $Western Alliance Bancorp(WAL.US)$ It closed up 49.2%, and closed down about 12% on Thursday $Zions Bancorp(ZION.US)$ It closed up 19.2% and fell more than 12% on Thursday $Comerica(CMA.US)$ It closed up 16.8%.
Important Market News
US non-farm payroll exceeded expectations in April
The number of people added to non-farm employment in the US unexpectedly did not fall but increased by 253,000 in April, an increase of 68,000 over expectations. The unemployment rate did not pick up as analysts had anticipated, but fell further to 3.4%, hitting a new low in half a century. Average hourly wages exceeded expectations and accelerated the rise in average hourly wages exceeding expectations, reflecting the resilience of the labor market in an environment where the Federal Reserve continues to tighten, as well as new upward pressure on inflation.

Robust employment data has temporarily eased investors' concerns about the recession. According to some analysts, the current non-farm employment report is another sign that the Federal Reserve has not destroyed the economy. The strongest argument from bears is that a recession is imminent, but unless we see such signs in employment data, it is difficult to draw such a bearish conclusion.

Senior Federal Reserve officials continue to “fly hawks”

The Federal Reserve's “Eagle King” Bullard said he supports raising interest rates by 25 basis points this week and believes this is a good next step for the US Federal Open Market Committee (FOMC) because the inflation rate is still high. He believes that the basic situation in the US is that economic growth is slow, the labor market is weak, inflation will fall, and the Federal Reserve can still achieve a soft landing in the economy. Same

Bank of America: The suspension of the Fed's interest rate hike is not a reason to buy stocks

Bank of America strategist Michael Hartnett said that in the context of high inflation and market concerns about the economic recession, due to accelerated capital outflows, it is not yet time to buy stocks. Bank of America quoted EPFR Global data as saying that in the week ending May 3, the redemption scale of global equity funds reached 6.6 billion US dollars, the highest in more than two months.
Important company news
Shareholder rights groups seek to remove Buffett from Berkshire's chairmanship

Buffett's relationship with Bill Gates puts Berkshire Hathaway investors at risk, according to a shareholder rights organization that sought to remove Buffett as chairman of the board of directors at the company's annual shareholders' meeting on Saturday. This is a rare public accusation against Buffett and Berkshire Hathaway.

The US Stock Exchange investigates the transactions of First Republic Bank executives

According to two people familiar with the matter, the US Securities and Exchange is investigating the actions of First Republic Bank executives before the government took over the bank and sold it to J.P. Morgan. One of the people familiar with the matter said that the US Securities and Exchange was investigating whether any member of First Republic Bank's executive team at the time used insider information to carry out improper transactions.

UBS Hundred People Task Force “Airborne” Credit Suisse, Officially Beginning the Merger Process

UBS bankers have “airborne” Credit Suisse Group and will begin sorting through the accounts of former rivals and starting what is thought to be the most complicated integration process ever. According to people familiar with the matter, UBS sent a so-called “cleaning team” composed of about 100 people to evaluate Credit Suisse's customer list and talent pool, and which business lines should be included in the final list. UBS aims to complete the deal as soon as this month. Credit Suisse previously warned that the current state of paralysis has caused the employee turnover rate to soar, increasing the urgency.
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