Zhitong Finance APP learned that after US Wall Street investors digested inflation data, the US stock market repeatedly stabilized in the early and mid-Friday periods, stepping into the tail section due to the heating up of geopolitical tensions in Ukraine, the three major indexes slid sharply, the Dow fell more than 500 points in the tail end, and the NASDAQ inserted more than 2%.
As of the close, the Dow fell 503.53 points, or 1.43%, to 34738.06 points; the Nasdaq fell 394.49 points, or 2.78%, at 13791.15 points; and the S&P 500 fell 85.44 points, or 1.90%, at 4418.64 points. Large technology stocks, new energy vehicles, semiconductor sectors fell, silver, gold stocks, military sectors higher. Faraday Future (FFIE. US) closed up 4.21%, with AMD (AMD. US) closed down 9.97 percent, Tesla (TSLA. US) closed down 4.93 percent, Didi (DIDI.US) closed down 7.77 percent, and Affirm Holdings (AFRM. US) closed down 20.66%, NVDA. US) closed down 7.25%, peloton (PTON. US) closed down 7.45 percent, with Northrop Grumman (NOC. US) up 4.53%, Lockheed Martin (LMT. US) up 2.79%.
Germany's DAX30 fell 0.42%, Britain's FTSE 100 fell 0.15%, France's CAC40 fell 1.27%, and Europe's Stoxx 50 fell 1%.
The Nikkei 225 rose 0.42%, South Korea's KOSPI fell 0.87%, Singapore's Straits Times rose 0.03%, Vietnam's VN30 fell 0.2%, Indonesia's Jakarta Composite fell 0.5%, Thailand's SET fell 0.22%, the Philippine Composite fell 2.18%, India's Mumbai 30 fell 1.31%, and Malaysia's Kuala Lumpur Composite Rose 0.56%.
The U.S. dollar rose after U.S. National Security Adviser Jake Sullivan warned that Russia could invade Ukraine at any time. The basket of dollar indexes (DXY), which measures the greenback against six major currencies (euro, Swiss franc, yen, Canadian dollar, british pound and Swedish krona), rose 0.36 percent to 96.03.
【Cryptocurrency】Cryptocurrencies fell. Bitcoin fell more than 2.5% at $42,315.2; Ethereum fell more than 6.5% at $2,899.7.
Gold rose to a near two-month high, with COMEX gold futures closing up 0.18% at $1840.80 an ounce.
【Crude oil】Oil prices hit a seven-year high. WTI March crude oil futures closed at $93.10 a barrel, up $3.22, or 3.6 percent. Brent crude April futures closed at $94.44 a barrel, up $3.03, or 3.3 percent.
【Natural Gas】UK gas futures rose more than 4%, and the overall decline for the whole week narrowed to just over 7%. European TTF benchmark Dutch natural gas futures rose 4.7 percent, down more than 6 percent for the week. EU emissions trading licensed futures rose more than 2 percent, down nearly 4 percent throughout the week and hit a record high on Tuesday.
Copper prices led the decline, with copper on the London Metal Exchange (LME) indicator period falling 2.9% at $9,956 per tonne, after three consecutive days of gains pushed copper prices to their highest in nearly four months. LME zinc fell 1.1% to $3,664 per tonne, nickel fell 1.1% to $23,270 per tonne, lead fell 0.8% to $2,261 per tonne, and period tin fell 1% to $43,750 per tonne.
【Macro News】
The United States believes that Russian President Vladimir Putin has decided to "invade" Ukraine, which is expected to begin next week. White House national security adviser Sullivan warned that Russia could invade Ukraine at any time, and he also called on U.S. citizens to leave Ukraine quickly within 24 to 48 hours. He noted that if a Russian attack on Ukraine were likely to begin with aerial bombings and missile attacks, "these attacks would obviously kill civilians, regardless of their nationality," and that subsequent ground incursions would involve heavy attacks by large forces. As for whether Russian President Vladimir Putin has made a final decision to invade Ukraine, Sullivan did not give a clear answer, saying only that he did not believe that Putin had made any final decisions, or that he did not know whether he had made any final decisions.
Nobel laureate Krugman believes the Fed does not need to use "shock therapy" to cool the economy. Nobel laureate economist Paul Krugman said that while it is time for the Fed to start raising interest rates, there is no crisis in inflation, suggesting that policymakers can be a little more restrained in their tightening policies. "Obviously the economy is very hot and the Fed has a responsibility to cool it down," Krugman said in an interview on Friday. As for what needs to be done, "definitely not shock therapy." Krugman, who now works at the City University of New York, said there was no need to panic about current inflation, which showed no signs that it was already entrenched in the economy. He said the Fed would need to raise rates "continuously" until the potential economic overheating dissipated.
The federal funds rate futures market lowered expectations for an additional special session of the Federal Reserve. The federal funds rate futures market recovered losses suffered by St. Louis Fed President Bullard in a hawkish speech on Thursday, when he said he was "open" to holding unplanned meetings. The February futures contract returned to 99.90 at 0.10%. It was also the trading price of futures after the january CPI announcement of the US higher than expected earlier on Thursday. After Bullard's comments were reported, the contract briefly fell to 99.845, meaning the market saw a 30% chance of an extraordinary meeting. The February federal funds rate futures contract volume reached a record 307,494 on Thursday, and Bullard threw heavy pressure before and after his speech. Open positions increased by 33,150.
Summers urged the Fed to meet immediately to end asset purchases. Former U.S. Treasury Secretary Lawrence Summers said the Fed should meet immediately to end its quantitative easing program to demonstrate its determination to curb inflation. The Fed's bond-buying program is currently scheduled to end next month. "It's ridiculous that the Fed should call a special session immediately to end quantitative easing, and it's ridiculous that central banks are expanding their balance sheets at this moment in economies with 7.5 percent inflation and in economies where labor markets are in the tightest state in two generations," Summers said in an interview. ”
The White House has asked the chip industry to prepare for a supply disruption in Russia. The White House warned the chip industry to diversify supply chains in case Russia retaliates against U.S.-threatened export restrictions that prevent access to critical materials, the sources said. Market research firm Techcet published a report on Feb. 1 highlighting the dependence of many semiconductor manufacturers on materials from Russia and Ukraine, such as neon, palladium and other materials. Techcet estimates that more than 90 percent of the U.S. supply of semiconductor-grade neon comes from Ukraine, while 35 percent of palladium comes from Russia. Members of the White House National Security Council have been in contact with people in the chip industry in recent days to learn about the availability of chip-making materials in Russia and Ukraine and urged them to look for other sources, people familiar with the matter said.
【Individual Stock News】
Deutsche Bank's Q4 13F position disclosure, Microsoft (MSFT. US) is its largest holding stock. The 13F filing shows that the top five buying stocks of Deutsche Bank in the fourth quarter were Microsoft (MSFT. US), Tesla (TSLA. US), Home Depot (HD. US), Union Pacific (UNP. US) and Applied Materials (AMAT. US)。 The top five selling stocks are Meta Platforms (FB. US)、MercadoLibre(MELI. US), Raytheon Technology (RTX. US), Alibaba (BABA. US) and Amazon (AMZN. US)。 Microsoft is currently its largest holding stock with a ratio of 4.91%, followed by Apple (AAPL. US), 3.75% shareholding.
In the Year of the Tiger, which is listed in the United States, the year of the tiger ushers in a new atmosphere, and the earnings season will be the next important catalyst. In the United States, the year of the Tiger in the listed Chinese stocks has a new atmosphere, and it is expected to hit the largest two-week continuous rise in 5 months. The Nasdaq Golden Dragon China index has risen about 5 percent since Friday and has gained more than 12 percent in two weeks, its biggest since early September. Alibaba (BABA. US), JD. US), Pinduoduo (PDD. US), NetEase (NTES. Tech giants such as the US) are expected to report quarterly earnings in the coming weeks, and if the outlook is strong, it could help ease concerns that the economic slowdown is hampering profit growth. Brendan Ahern, chief investment officer at Krane Funds Advisors, said: "As we enter earnings season, we need catalysts whose valuations are very cheap compared to historical prices, especially relative to U.S. tech companies. ”
EBON International (EBON. US) wholly owned subsidiary, Ebonex Australia, is approved by Australia to register as a cryptocurrency exchange. Ebang International announced that its wholly-owned subsidiary, Ebonex Australia Pty Ltd ("Ebonex Australia"), has been approved by the Australian Exchange Reporting and Analysis Centre (AUSTRAC) to register as a cryptocurrency exchange (DCE). AUSTRAC is an Australian government financial intelligence unit responsible for detecting, deterring and responding to criminal abuse of the financial system and overseeing the registration of any business that offers cryptocurrency exchange services. Hu Dong, chairman and CEO of the company, said that the cryptocurrency exchange project team, made up of senior industry technical experts, has been developing and testing cryptocurrency exchanges, which are expected to be brought to market in the near future.
Automakers such as F.US have been forced to cut production in a new round. Ford Motor Co., Ltd. (F.US), Toyota Motor Corporation (TM. US) and General Motors (GM. US) said the chaos caused by truck protests at the Canadian border has forced a new round of production cuts at plants in Michigan, Ohio, West Virginia, Alabama and Ontario, Canada. In addition, due to the continued shortage of semiconductor chips around the world, Ford will suspend production activities at the Avon Lake plant next week.
【Big Bank Rating】
Goldman Sachs: First for Teladoc Health (TDOC. US) Buy rating with a target price of $121
Piper Sandler: Cut the price target for Zillow Group (Z.US) from $68 to $64
Bank of America Securities: Will Block (SQ. US) rating raised from Neutral to Buy With a lower target price from $221 to $185
Needham: FY24 Adjusted Earnings Guidance Falls Short of Expectations Lowered Uber. US) price target to $68
Wade Bush: Will Twitter (TWTR. US) price target was lowered to $42 from $46 to maintain a neutral rating