Financial Associated Press (Shanghai editor Zhao Hao) news, on Tuesday (March 22), the three major U.S. stock indexes opened high and closed high, of which the NASDAQ, which is dominated by technology stocks, closed up nearly 2%. Chinese stocks contributed to the fact that the NASDAQ Golden Dragon Index also closed up nearly 8%.
As of the close, the Dow was up 0.74 percent at 34,807.46; the S&P 500 was up 1.13 percent at 4,511.61; and the Nasdaq composite was up 1.95 percent at 14,108.82.
Most of the popular Chinese stocks closed higher, with the NASDAQ Golden Dragon index up 7.84% at 7,651.23 points.
After weighing Powell's hawkish remarks, Piper Sandler & Co.'s chief market technology strategist Craig Johnson said the S&P 500's reversal from the recent downtrend could indicate that U.S. stocks have bottomed out.
Liz Young, head of investment strategy at SoFi, told the media, "The market's expectations for interest rates are more aggressive than what might happen, and yesterday's news (Powell's speech) has prepared us for the worst." ”
Huw Roberts, director of analytics at data analytics firm Quant Insight, said, "The message from last week's Fed meeting was that they were going to tighten monetary policy, but the U.S. economy was resilient enough to withstand that." Today the stock market chooses to believe in the resilient part of the economy. ”
Wayne Wilbanks, co-founder and chief investment officer at Wilbanks Smith & Thomas Asset Management, said: "Today we started to see a rebound in some growth stocks. After the plunge, their valuations began to attract investors, overshadowing investors' concerns about interest rates. ”
Hot stock performance
Large tech stocks were mostly higher, with Apple up 2.08 percent, Microsoft up 1.64 percent, Google A up 2.78 percent, Amazon up 2.10 percent, Nvidia down 0.79 percent, and Meta up 2.44 percent.
The popular Chinese stocks rose almost all, with iQiyi up 24.40%, Bilibili up 20.03%, Pinduoduo up 18.85%, Alibaba up 11.00%, Tencent Music up 9.68%, Weilai up 7.45%, Xiaopeng Motors up 6.19%, Baidu up 5.39%, JD.com up 5.35%, ideal cars up 3.80%. Only Didi fell 3.85%.
Company news
Elon Musk officially announced the opening of Tesla's first manufacturing facility in Europe. At the opening celebration, Musk delivered the first 30 Model Ys to customers in front of German Chancellor Scholz. At the time of delivery, Musk also performed an impromptu "awkward dance." Musk called the opening of the plant "another step towards a sustainable future, and it's a great day." Tesla closed up 7.91 percent.
[SEC: Musk can't avoid SEC scrutiny of his Tesla-related tweets]
The SEC said musk could not avoid scrutiny of his Tesla-related tweets, opposed Musk's attempts to terminate the pro-ruling on Tesla tweets, and opposed Musk's attempt to revoke the subpoena.
【Many car companies face supply chain risks due to the Conflict between Russia and Ukraine】
Russian automaker Avtovaz said it would suspend some production at its Togliatti and Izhevsk plants in Russia on March 21-25 due to shortages of electronic components. Due to the escalation of the Conflict between Russia and Ukraine, the Volkswagen Group has also been seriously affected by the supply of auto parts, especially the shortage of wiring harnesses. The Volkswagen Group's plant in Zwickau, Germany, will not be able to resume production until the beginning of April. On March 21, Mark Reuss, president of GM, said the geopolitical risks posed by the Russian-Ukrainian conflict to the automotive supply chain were real. Ford also said that the global semiconductor shortage and the Russian-Ukrainian conflict have affected its production and orders in Europe. Due to a global chip shortage, Ford will suspend its plants in Saarluis and Cologne, Germany.
【NVIDIA Launches New Artificial Intelligence Graphics Processor Chip for Data Centers】
Nvidia introduces a new artificial intelligence (AI) graphics processing chip (GPU) for data centers, called the H100. The "Hopper"-based graphics chip will debut later in 2022, with the new Hopper architecture featuring 80 billion transistors.
According to the official website announcement, Occidental Petroleum has signed a pre-purchase agreement with South Korea's SK International Trade to provide it with 200,000 barrels of zero-emission crude oil per year for a period of five years. According to Western Petroleum's plan, the company's 1PointFive is planning to build a super-large carbon capture device to extract carbon dioxide from the air in the Permian Basin, the major crude oil production hub in the United States, and permanently store it in geological formations deep underground to provide permanent and verifiable carbon dioxide removal.
Alphabet's Waymo said on Monday local time that the company was preparing to eliminate safety drivers on self-driving cars in San Francisco, but did not elaborate on the timetable for launching a fully driverless service. Waymo co-CEO Tekedra Mawakana said that since launching this "robo-taxi" in this densely populated city, they have provided the service to hundreds of people in the past six months.
Pfizer announced on Tuesday that it plans to sell the new coronavirus drug Paxlovid, which can be used for up to 4 million courses of treatment, to the United Nations Children's Fund (UNICEF), which will be distributed to 95 low- and middle-income countries, which is part of Pfizer's action to expand the use of the drug beyond rich countries.