In the early morning of the 16th Beijing time, the US stocks fell on Friday, and the three major stock indexes recorded a decline this week.Data such as CPI and PPI this week show that the pressure of inflation in the United States is still heating up, which has reduced the market’s betting on the Federal Reserve’s interest rate cuts before June.The Fed will hold a monetary policy meeting next week.
The Dow fell by 190.89 points, and the decline was 0.49%to 38714.77 points. The Nasda Index fell 155.36 points, a decrease of 0.96%, and at 15973.17 points; the S & P 500 index fell 33.53 points, a decrease of 0.65%, at 5116.95 points.
This week, Taoism has fallen by 0.02%, which has recorded a decline in the third consecutive week.The Nasda Index fell 0.7%this week, and the S & P 500 index fell 0.13%. Both of them fell for the second consecutive week.
The market has ushered in two important inflation data this week, which may affect the Fed’s interest rate cut.
On Thursday, the February producer price index (PPI) announced by the US Department of Labor increased more than economist expectations.In February, PPI increased by 1.6%year -on -year, and the growth rate was 1.2%higher than the expected valueKanpur Stock. The previous value was corrected from 0.9%to 1%.In February, PPI increased by 0.6%month -on -month, with an expected 0.30%, and the previous value was 0.30%.Udabur Wealth Management
The deduction of food and energy prices will not count. In February, the core PPI increased by 2%year -on -year, and the growth rate was 1.9%higher than the expected value, which was the same as the previous value.The core PPI rose 0.3%month -on -month, and the growth rate was less than 0.5%, but accelerated from 0.2%last month.
PPI data in February showed that American inflation is still accelerating.Affected by this, US bond yields rose on Thursday, and the benchmark 10 -year U.S. Treasury bonds once reached 4.29%.
The PPI index is an indicator of wholesale inflation. The index exceeds expectations, making it possible that investors can speculate that the Federal Reserve is unlikely to relax monetary policy in advance.
Before the PPI Index was announced, the US Department of Labor also announced on Tuesday that the US February Consumer Price Index (CPI) report, which has attracted much attention.Data show that the US February CPI increased by 0.4%month -on -month and 3.2%year -on -year.The year -on -year increase in CPI data exceeded expectations, so that the market bet on the Federal Reserve at least until summer to start to reduce interest rates.
The Fed will hold a monetary policy meeting from March 19-20.At present, the institution will remain unchanged for the fifth consecutive time.In December last year, the medium of policy makers’ forecast showed that it would cut interest rates three times in 2024, each time 25 basis points.
To be sure, according to CME’s FedWatch tool, federal fund futures pricing shows that the Fed’s monetary policy conference will maintain interest rates at a 99%of the unchanged rate of interest rates next week.
LSEG’s interest rate probability application shows that traders have reduced the chance of raising interest rates in the Fed in June from approximately 67%on Wednesday evening to 60%; for 2024, the current expected interest rate cut for the market is less than three times, which is lower than about two weeks ago.Three to four times, less than seven times at the end of last year.Surat Wealth Management
But Janney Montgomery Scott chief investment strategist Mark Luschini said that recent economic data may make people question: Does the Fed think that inflation has cooled to the level of interest rate cuts later this year.
Luschini said: "At least recently, the road to achieving 2%inflation targets is by no means a way. I think this is enough to curb the enthusiasm of market participants."
Kyle Rodda, a senior market analyst at Capital.com, said: "Price pressure looks more stubborn, and the process of restraining inflation is longer than expected, which brings potential resistance to the rise of technology stocks."
For most of the past and a half months, Fed officials have taken turns to suppress the market’s expectations of the earliest March rate cut.
The Federal Reserve Chairman Powell said in a Congress hearing last week that the Fed’s confidence is close to the level of interest rate cuts.However, the market’s expectations for the Fed’s easing policy have recently weakened due to the hotness of inflation data. The predicting changes in interest rate changes to the price reduction of interest rate cuts at the end of the year is slightly lower than 75 basis points.
On Friday, the preliminary report released by the University of Michigan (UNIVERSITY of Michigan) showed that the March consumer confidence index fell to 76.5 in March, slightly lower than the 76.9 in February.Since January, Americans have basically remained unchanged in the forecast index.
The current American consumer confidence index is higher than the historical lowest point when the inflation was topped in June 2022, but lower than the average level before the new crowns.
Consumer information in the United States in March shows that American consumers have decreased slightly for the economy, but they continue to expect inflation to further cool down.This may be the potential signs of rising prices will continue to slow down.
Indian officials said on Friday that companies that promise to invest at least 500 million US dollars in three years of investment and manufacturing facilities will reduce the import tax of certain electric vehicles, which may support plans to enter the market.
This policy is a huge victory for Tesla because it meets the company’s policies that the company has been lobbying in New Delhi.Last July, Tesla had proposed to build a factory in India, but hoped that India would reduce import tax, and Musk also complained that India’s import tax was the highest in the world.
The capital market reiterates Tesla’s rating "buy", with a target price of $ 298.
Cathie Wood, a well -known American investor, warned that Nvidia is particularly like that year, and there may be a plunge space, and its decline may even be as high as 50%.Surat Stock
On Friday, the EU antitrust regulatory agency said that Alphabet has an advantage in generating artificial intelligence because the company has a large amount of data and artificial intelligence optimization chips.The above -mentioned remarks that Microsoft executives are said to have responded to the European Commission’s questioning and consultation with the European Commission in January this year.
It said on Thursday that it will add production artificial intelligence function to its enterprise software product line, thereby exacerbating the competition with Microsoft and other technology companies to sell this technology to corporate customers.Oracle -based software products are essential for the financial, supply chain and human resources departments of many enterprises.The new features are designed to save time for these users by generating tasks such as generating reports, summarizing complex data or drafting position descriptions.
It has reached a $ 890 million settlement agreement to resolve collective lawsuits.The lawsuit charges CEO Tim Cook to deceive shareholders by concealing the decline in the demand for overseas.
It is also reported that Apple has completed the acquisition of AI Darwinai, which will enhance Apple’s competitiveness in the AI field.Darwinai, as a company focusing on the research and development of AI technology, has attracted multiple rounds of financing since its establishment in 2017, with a total financing amount of 15.5 million US dollars.
Bank of America Securities issued a report saying that the competitive advantage of ultra -micro computers (SMCI) includes its system helping quickly integrate new technologies and shorten the time of listing;Commercial relationships; the ability to customize configuration for specific customers.
Bank of America’s revenue and EPS forecast for ultra -micro computers are significantly higher than market expectations.The bank reiterated its "buy" rating, and the target price was adjusted from $ 1040 to $ 1280.
On March 15, he said that he would not plan to raise an acquisition offer for British electronic product retailers.Elliott Advisors previously announced on the 11th that after many attempts to contact the Currys board of directors but were rejected, ELLIOTT could not make a better acquisition offer for Currys based on the public information it had mastered.Therefore, Elliott confirmed that he did not intend to raise an offer for Currys.
The software provider issued a weak sales guidance.The annual profit forecast released by the beauty chain Ulta is not as large as analysts.
Affected by the decline in Bitcoin, cryptocritgy, Marathon Digital, Coinbase and other cryptocurrency stocks fell.
It is intended to sell Italian business to Swiss Telecom for 8 billion euros.
PageDUTY’s revenue guidelines released by the 2025 year of fiscal year are inferior.
In other markets, the New York Commodity Exchange’s gold futures market’s most active April gold price fell at $ 6 on the 15th and closed at $ 2161.5 per ounce, a decrease of 0.28%.
The price of silver futures delivered in May rose by 32.1 cents to close at $ 25.381 per ounce, an increase of 1.28%.The price of Platinum futures delivered in April rose 7.8 US dollars to close at $ 943.5 per ounce, an increase of 0.83%.
The New York Commodity Exchange delivered a medium -fitting crude oil (WTI) futures to US $ 0.22, a decrease of 0.27%to $ 81.04/barrel, and this week has risen more than 3.88%.In April, Natural Gas Futures closed up by about 4.94%to $ 1.655/million, and it fell 8.31%this week.
Nagpur Investment