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Although investors believe that the Federal Reserve will maintain high interest rates for a longer period of time, the strong corporate earnings season supported the market, and the three major Wall Street stock market indices all closed higher today.
$Dow Jones Industrial Average(.DJI.US$Up 146.43 points, or 0.38%, to close 38386.09 points.
$S&P 500 Index(.SPX.US$Up 16.21 points, or 0.32%, to close 5116.17 points.
$NASDAQ(NASDAQ.US$Up 55.18 points, or 0.35%, to close at 15983.08 points.
As optimism rises, I wonder if it will continue to drive Malaysian stocks to continue to rise?
$FTSE Bursa Malaysia KLCI Index(.KLSE.MY$
$Dow Jones Industrial Average(.DJI.US$Up 146.43 points, or 0.38%, to close 38386.09 points.
$S&P 500 Index(.SPX.US$Up 16.21 points, or 0.32%, to close 5116.17 points.
$NASDAQ(NASDAQ.US$Up 55.18 points, or 0.35%, to close at 15983.08 points.
As optimism rises, I wonder if it will continue to drive Malaysian stocks to continue to rise?
$FTSE Bursa Malaysia KLCI Index(.KLSE.MY$
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This week, the US stock market ended its recent continuous downward trend, boosted by major financial reports. Both the S&P 500 and Nasdaq closed higher, rising 0.87% and 1.11%, respectively, while the Dow Jones Industrial Average also recorded 0.67% growth. Goldman Sachs, in particular, performed well in the financial sector, with an increase of more than 3%. US stocks: The Dow rose 0.67%, the S&P 500 index rose 0.87%, and the NASDAQ rose 1.11%.
In the technology sector, although Tesla continued to fall due to price adjustments, with a cumulative decline of more than 14% over a week, the strong performance of Nvidia and Arm led to a rise in the entire chip sector. Nvidia rose more than 4%, and Arm surged nearly 7%. Furthermore, Apple's AI big model development plan and Musk's emphasis on autonomous taxis (RoboTaxi) have also become the focus of market attention.
In the US bond market, the two-year US Treasury yield once broke through 5.0% and reached a five-month high, then declined somewhat. The US dollar index declined slightly after experiencing fluctuations, while the exchange rate of the yen against the US dollar hit a new low since 1990. In the commodity market, risk perception in the Middle East has decreased. Gold and silver prices have dropped sharply, gold has fallen below the closing record high, and crude oil prices have also declined somewhat. Copper and aluminum prices have fluctuated, and aluminum prices have reached new highs in nearly two years.
The Chinese market also showed fluctuations. A-shares fluctuated and adjusted throughout the day, and oil and gas and cyclical stocks did not perform well. However, Hong Kong stocks closed higher, with Tencent rising by more than 5%. The overall performance of Chinese securities listed in the US is strong...
In the technology sector, although Tesla continued to fall due to price adjustments, with a cumulative decline of more than 14% over a week, the strong performance of Nvidia and Arm led to a rise in the entire chip sector. Nvidia rose more than 4%, and Arm surged nearly 7%. Furthermore, Apple's AI big model development plan and Musk's emphasis on autonomous taxis (RoboTaxi) have also become the focus of market attention.
In the US bond market, the two-year US Treasury yield once broke through 5.0% and reached a five-month high, then declined somewhat. The US dollar index declined slightly after experiencing fluctuations, while the exchange rate of the yen against the US dollar hit a new low since 1990. In the commodity market, risk perception in the Middle East has decreased. Gold and silver prices have dropped sharply, gold has fallen below the closing record high, and crude oil prices have also declined somewhat. Copper and aluminum prices have fluctuated, and aluminum prices have reached new highs in nearly two years.
The Chinese market also showed fluctuations. A-shares fluctuated and adjusted throughout the day, and oil and gas and cyclical stocks did not perform well. However, Hong Kong stocks closed higher, with Tencent rising by more than 5%. The overall performance of Chinese securities listed in the US is strong...
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US Stock Market Review 15 - 19 Apr 2024
DJI -0.08%, SP500 -3.05%, NASDAQ -5.52%. Market experienced selloff from mainly tech stocks, with NVDA fell more than 10% on last Friday, expect to see more volatility ahead on big tech earnings
Four of the Magnificent Seven group of tech giants will report this week: TSLA, META, MSFT GOOGL
Event to watch: 23 Apr S&P PMI & New Home Sales, 24 Apr Durable Goods Orders, 25 Apr GDP QoQ & initial jobless Claims, 26 Apr Core PCE Pri...
DJI -0.08%, SP500 -3.05%, NASDAQ -5.52%. Market experienced selloff from mainly tech stocks, with NVDA fell more than 10% on last Friday, expect to see more volatility ahead on big tech earnings
Four of the Magnificent Seven group of tech giants will report this week: TSLA, META, MSFT GOOGL
Event to watch: 23 Apr S&P PMI & New Home Sales, 24 Apr Durable Goods Orders, 25 Apr GDP QoQ & initial jobless Claims, 26 Apr Core PCE Pri...
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$Goldman Sachs(GS.US$ is lowering $Alibaba(BABA.US$ stock to Buy from Conviction Buy as the company boosts spending.
Analyst Piyush Mubayi is cutting the price target to $215 per share from $252.
The stock is slightly lower in premarket trading.
"At the time when retail spending slows down and competitive intensity levels up, BABA has been increasing investments to 1) acquire new users, 2) build multiple traffic sources, and 3) raise merchant subsidies in the shorter term," Mubayi writes in a note.
"We expect revenue growth (ex. SunArt) to decelerate to 13%/16% in 3QFY22E/4QFY22E, with CMR revenue growth in 2HFY22E 3.3% yoy vs. 3.4% in 2QFY22. The lower CMR monetization rate and stepped-up strategic investments will drag profitability over the next 2 quarters before growth recovers in FY23E, when both revenue/earnings grow >20%."
But Goldman still expects the company to continue "aggressive buybacks."
Last week Warburg cut its valuation of Ant Group.
Analyst Piyush Mubayi is cutting the price target to $215 per share from $252.
The stock is slightly lower in premarket trading.
"At the time when retail spending slows down and competitive intensity levels up, BABA has been increasing investments to 1) acquire new users, 2) build multiple traffic sources, and 3) raise merchant subsidies in the shorter term," Mubayi writes in a note.
"We expect revenue growth (ex. SunArt) to decelerate to 13%/16% in 3QFY22E/4QFY22E, with CMR revenue growth in 2HFY22E 3.3% yoy vs. 3.4% in 2QFY22. The lower CMR monetization rate and stepped-up strategic investments will drag profitability over the next 2 quarters before growth recovers in FY23E, when both revenue/earnings grow >20%."
But Goldman still expects the company to continue "aggressive buybacks."
Last week Warburg cut its valuation of Ant Group.
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With the holiday shopping season in high gear, many retailers are offering Buy Now, Pay Later options and many consumers plan to take them up on it, according to a survey by Cardify.
Almost half (45.1%) of 2,000 BNPL users say they'll be paying for part, or all, of this year's holiday purchases using BNPL, putting it in third place behind debit cards (65.7%) and credit cards (54.6%). Only 31.5% of those surveyed said they'll pay with cash or check.
Of those who used BNPL for holiday shopping last year, 51.1% plan to use BNPL for more of their shopping this holiday season. Some 38.9% plan to use it the same amount and only 10.1% plan to use it less.
They're also likely to spend more this holiday season than shoppers who don't plan to use BNPL. 26.2% of the BNPL shoppers plan to spend more this year vs. 21.3% of those who don't plan to use BNPL.
Whether they can afford to pay more for this year's purchases is another question. When asked what they would do if BNPL wasn't an option, 45.8% said they'd have to spend less.
Of all the respondents, 10.8% said they had defaulted on a BNPL in the past; among those planning to use BNPL this year, that number rises to 13.9%.
Publicly traded stocks to keep an eye on in the BNPL space are $Affirm Holdings(AFRM.US$, $Afterpay Ltd.(AFTPF.US$, which agreed to be bought by $Block(SQ.US$, and $PayPal(PYPL.US$. $Visa(V.US$ and $MasterCard(MA.US$ are also setting up their own BNPL services.
A Credit Karma/Reuters study in September found that a third of U.S. consumers using BNPL had fallen behind on one or more payments.
Almost half (45.1%) of 2,000 BNPL users say they'll be paying for part, or all, of this year's holiday purchases using BNPL, putting it in third place behind debit cards (65.7%) and credit cards (54.6%). Only 31.5% of those surveyed said they'll pay with cash or check.
Of those who used BNPL for holiday shopping last year, 51.1% plan to use BNPL for more of their shopping this holiday season. Some 38.9% plan to use it the same amount and only 10.1% plan to use it less.
They're also likely to spend more this holiday season than shoppers who don't plan to use BNPL. 26.2% of the BNPL shoppers plan to spend more this year vs. 21.3% of those who don't plan to use BNPL.
Whether they can afford to pay more for this year's purchases is another question. When asked what they would do if BNPL wasn't an option, 45.8% said they'd have to spend less.
Of all the respondents, 10.8% said they had defaulted on a BNPL in the past; among those planning to use BNPL this year, that number rises to 13.9%.
Publicly traded stocks to keep an eye on in the BNPL space are $Affirm Holdings(AFRM.US$, $Afterpay Ltd.(AFTPF.US$, which agreed to be bought by $Block(SQ.US$, and $PayPal(PYPL.US$. $Visa(V.US$ and $MasterCard(MA.US$ are also setting up their own BNPL services.
A Credit Karma/Reuters study in September found that a third of U.S. consumers using BNPL had fallen behind on one or more payments.
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$General Motors(GM.US$ EVs have their place in the market as do diesels and gas. Needs drive product choice.
What will be interesting is the integration of time-of-use-rates (electric) and EV charging at scale.
Price at the pump is constant (meaning no significant intra-day price swings) any time one wishes to fill up. Not so with time-of-use rates especially when the grid is stressed.
What will be interesting is the integration of time-of-use-rates (electric) and EV charging at scale.
Price at the pump is constant (meaning no significant intra-day price swings) any time one wishes to fill up. Not so with time-of-use rates especially when the grid is stressed.
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$Pfizer(PFE.US$ and its partner $BioNTech(BNTX.US$ plan to ask the FDA in the next few days to authorize booster shots of its COVID-19 vaccine for 16 and 17 year olds, The Washington Post reports.
Two sources told the newspaper that the agency is expected to quickly sign off on the request.
New data from Israel on boosters in this age group is said to have reassured the FDA that cases of myocarditis, an inflammation of the heart muscle, in men is very rare.
The CDC today said that all adults 18 and over should get a booster shot in light of the potential impact of the Omicron variant.
Two sources told the newspaper that the agency is expected to quickly sign off on the request.
New data from Israel on boosters in this age group is said to have reassured the FDA that cases of myocarditis, an inflammation of the heart muscle, in men is very rare.
The CDC today said that all adults 18 and over should get a booster shot in light of the potential impact of the Omicron variant.
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