Financial Associated Press (Shanghai, editor Xia Junxiong) news, Eastern time on Thursday, the U.S. stock market rushed higher and then fell, the three major indexes in the morning were more than 1%, the Nasdaq was once up more than 2%, but in the afternoon gave back all the gains, and finally the three major stock indexes all closed down.
(Nasdaq rose more than 2% at one point in early trading, source: Yingwei Financial)
The sharp swings in the market suggest that investors are still worried about the prospect of tighter monetary policy and slower economic growth, and Bespoke Investment Group noted in a note to customers on Thursday that investors have prominently sold stocks in the last hours of the day so far this year.
Ryan Detrick, chief market analyst at LPL Financial, warned that investors could face more volatility this year as the Fed is about to raise interest rates.
Nicholas Colas, founder of analytics firm DataTrek Research, said: "Whenever the stock market goes lower, as this year has been, we should be aware that the risk of a stock market crash is increasing, not decreasing. ”
Market dynamics
As of the close, the Dow Jones was down 0.89 percent at 34,715.39; the S&P 500 was down 1.10 percent at 4,482.73; and the Nasdaq was down 1.30 percent at 14,154.00.
Hot stock performance
Big tech stocks all fell, apple down 1.03 percent, Amazon down 2.96 percent, Meta down 0.95 percent, Google down 1.34 percent, Microsoft down 0.57 percent, and Netflix down 1.48 percent.
Most new energy vehicle stocks closed lower, Tesla rose 0.06%, Weilai Automobile rose 1.75%, Xiaopeng Automobile rose 1.85%, Ideal Automobile fell 0.31%, Nikola fell 7.42%, Workhorse fell 5.11%, Lordstown fell 9.03%, Lucid fell 3.27%, Rivian fell 6.31%
Most of the popular Chinese stocks rose, jd.com rose 6.50%, Alibaba rose 2.58%, Weibo rose 3.25%, Pinduoduo rose 2.75%, Bilibili rose 4.27%, Baidu rose 4.89%, Didi rose 6.99%, Manbang rose 10.94%, New Oriental fell 1.73%, NetEase fell 0.10%, Tencent Music fell 1.17%, iQiyi fell 2.07%.
Company news
[U.S. Senate Judiciary Committee Approves Antitrust Bill Against Tech Giants]
On Thursday (January 20), local time, the US Senate Judiciary Committee approved an antitrust bill against technology giants, bringing the bill one step closer to the deliberation of the Senate plenary. The bill, designed to protect digital competition, would prohibit tech giants from giving their products, services or lines of business advantage on their platforms, targeting Apple, Google, Amazon and Facebook.
【Netflix's first quarter performance outlook is significantly lower than expected After hours plunged nearly 20%】
After hours on Thursday, streaming giant Netflix announced its fourth quarter 2021 financial report. According to the data, Netflix's Q4 revenue of $7.71 billion and the number of paid net users of streaming media increased by 8.28 million, which is in line with market expectations, but the company's performance outlook for the first quarter of 2022 is significantly lower than market expectations. Netflix expects EPS in the first quarter to be $2.86 and analysts expect $3.37; first-quarter revenue is expected to be $7.90 billion, analysts expect $8.12 billion; and the number of streaming paid users is expected to increase by 2.5 million in the first quarter, and analysts expect an increase of 6.26 million. Netflix plunged nearly 20 percent in after-hours trading.
[Google appeals to EU Supreme Court to overturn $2.8 billion fine]
Google said Thursday it was appealing to the EUROPEAN Supreme Court against the previous decision to uphold the $2.8 billion fine. This is the second time Google has filed a request to overturn the fine, which was rejected by the General Court of the European Union last November.
[GM to deliver electric SUV Cadillac LYRI within months]
Mark Reuss, president of GM, said Thursday that a pre-production version of the company's electric SUV, cadillac LYRIQ, has been assembled, and the final production version is expected to be delivered to customers in the coming months. According to sources and documents released in December, GM is considering investing more than $4 billion at two plants in Michigan to boost its electric vehicle capacity.
[American Airlines and United Airlines say passenger traffic is expected to resume in March]
American Airlines and United Airlines said Thursday that passenger traffic is expected to resume in March after the brief impact caused by Omicron, but a new wave of the outbreak will allow their costs to continue to rise this year.
【Mercedes-Benz will use Luminar's lidar technology】
The founder of Luminar, a maker of autonomous driving sensors, said the company has a partnership agreement with Mercedes-Benz, which will use Luminar's lidar technology in its next-generation cars. Boosted by the news, Luminar closed up 11.52% on Thursday.