laitimes

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

The number of initial jobless claims in the United States last week, which was released on Thursday, rose more than expected to 231,000, a new high in nearly three months, and the number of continuous claims for relief rose for eight consecutive weeks to 1.87 million last week, a new high in nearly two years, adding signs of cooling in the labor market, giving the Fed more reason to make the July rate hike the last action of this tightening cycle.

Treasury yields accelerated their retreat after the unemployment data, fueling expectations of an end to rate hikes, with the yield on the benchmark 10-year Treasury note approaching its lowest level since late September on Wednesday. Commenting that it is too early for the Fed to announce the end of the fight against inflation, and interest rate cuts are still far away, but some data like the one released this week will reduce the market's concerns about the Fed raising interest rates again, and the question now is whether this "Fed-friendly" type of data will continue to bring bullish momentum to U.S. stocks.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

Market expectations for the Fed to cut interest rates next year have risen slightly

While boosting a rebound in Treasury prices, the unemployment data failed to help all major U.S. stock indexes maintain their daily rally. Some corporate earnings reports have sent warning signs: retail giant Walmart raised its annual profit guidance to still be lower than expected and is cautious about the outlook for consumer spending ahead of the year-end holiday shopping season, while Cisco's guidance for the current fiscal quarter was far worse than expected and lowered its full-fiscal year guidance, giving companies a red light on technology spending. In addition, the popular Chinese concept stocks that outperformed the market after JD.com and Tencent's third quarter reports on Wednesday fell sharply, and Alibaba's stock price fell sharply when it released its earnings report, as the United States expanded chip export restrictions and suspended the Alibaba Cloud spin-off.

In the foreign exchange market, after the release of the U.S. unemployment data, the U.S. dollar index quickly turned lower, once approaching the low since early September set on Wednesday, and non-U.S. currencies accelerated their intraday rebound. The Japanese yen regained 151.00 intraday, not approaching a one-year low near 152.00 on Monday, and the risk of Japanese government intervention temporarily eased; the offshore yuan extended its gains, briefly rising above 7.25, approaching a three-month high set before Wednesday's turnaround; the US Securities and Exchange Commission (SEC) reportedly postponed the approval of the application for a bitcoin spot ETF, and bitcoin, which had been approaching a one-and-a-half-year high, fell sharply by more than $2,000 during the session.

Among the commodities, supported by the weakening of the US dollar, gold rebounded, and New York gold futures rose more than 1% in one day for the first time in a month; despite the fall of the dollar, international crude oil still accelerated its decline, becoming a big loser on Thursday, cloth oil fell more than 5% intraday, and U.S. oil once fell nearly 6%, hitting a new low in more than four months.

On Wednesday, the U.S. Department of Energy announced that the U.S. EIA crude oil inventories in the first two weeks increased by a total of 17.5 million barrels, an increase that far exceeded expectations; on Thursday, the U.S. government imposed sanctions on shipping companies and ships carrying Russian crude exports above the G7 limit; according to the media, Denmark may be responsible for inspecting or even intercepting Russian oil tankers passing through its waters, and crude oil has suffered a double blow on the demand and supply side, according to the media. In addition, the market is concerned about the property market situation reflected in the housing prices of 70 cities in China in October.

The Dow ended its four-game winning streak after the earnings report, Cisco and Walmart fell sharply, leading the decline in the constituent stocks, and the Nabu index barely won three consecutive gains

The three major U.S. stock indexes collectively opened lower, the Dow Jones Industrial Average fell more than 120 points at the beginning of the session, and the S&P 500 index, the Nasdaq Composite Index all turned up in early trading, and then turned down, at the end of the morning session, the Dow fell nearly 170 points, and the Nasdaq fell nearly 0.5%, the S&P fell more than 0.3%, and the Dow gradually narrowed more than half of the decline at midday, and the Nasdaq and the S&P turned up slightly.

In the end, the three major indices failed to collectively close higher. The Dow ended a four-day winning streak, and the S&P and Nasdaq rose for three consecutive days. The Dow closed down 45.74 points, or 0.13%, at 34,945.47, after its highest level since August 14. The S&P closed up 0.12% at 4,508.24, its highest since Sept. 1. The Nasdaq closed up 0.07%, rising less than 0.1% for two consecutive days at 14,113.67 points, refreshing its highest level since August 1 for three consecutive days.

The Russell 2000, a small-cap index dominated by value stocks, closed down 1.52%, falling to its highest level since September 20, after rising for three consecutive days. The tech-heavy Nasdaq 100 closed up 0.1%, rising three straight times to its highest level since July 18. The Nasdaq Technology Marketcapitalization-Weighted Index (NDXTMC), which measures the performance of the technology constituents of the Nasdaq 100 index, closed up 0.81%, hitting a record high for the second time this week after Tuesday.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

Major U.S. stock indexes updated their daily lows at the end of Thursday morning before gradually narrowing or erasing losses

Among the major sectors of the S&P 500, four closed lower on Thursday, led by a 2.1% decline in energy affected by the decline in crude oil, Walmart's consumer staples fell 1.2%, Tesla's consumer discretionary fell about 0.9%, and materials fell less than 0.1%. The seven sectors that closed up were all up less than 1%, communication services rose more than 0.9%, Microsoft's IT rose nearly 0.7%, and other sectors rose less than 0.5%, and interest-rate-sensitive properties edged higher.

Most of the leading technology stocks rose for three consecutive days, while Tesla closed down 3.8%, falling to the highest closing level since October 17, which rose for four consecutive days. Among the six major technology stocks of FAANMG, Microsoft closed up nearly 1.8%, hitting a record closing high for three consecutive days, and maintained a new high after releasing its first AI chip on Wednesday; Apple closed up 0.9%; Google's parent company Alphabet closed up 1.7%, refreshing its high since October 24 on three days; Netflix closed up nearly 1.1%, refreshing its high since July 19 in two days; and Meta, the parent company of Facebook, fell nearly 2% at the beginning of the session and closed up 0.4% , which did not continue to fall from Tuesday's highest level since January last year, and Amazon, which rebounded on Tuesday and hit a record high, closed down nearly 0.3%, falling for two consecutive days.

Chip stocks rose for three consecutive days, with the Philadelphia Semiconductor Index and the semiconductor industry ETF SOXX closing up 0.3% and less than 0.1%, respectively, continuing to refresh their closing highs since September 5. Among individual stocks, Nvidia fell more than 1% at the beginning of the session and closed up 1.2%, approaching the all-time high set by Tuesday's 10th consecutive trading day, and by the close, Intel, which was upgraded by Mizuho analysts and a price target, rose more than 6%, AMD rose more than 1%, while Arm fell more than 2%, and Broadcom fell more than 1%.

Overall, AI concept stocks that have risen for four consecutive days have fallen. At the close, C3.ai (AI) fell more than 3%, BigBear.ai (BBAI) fell more than 7%, SoundHound.ai (SOUN) fell more than 5%, Palantir (PLTR) fell nearly 1%, and Adobe (ADBE) rebounded against the market, rising more than 1%.

Popular Chinese concept stocks generally retreated. The Nasdaq Golden Dragon China Index (HXC), which rose for four days, closed down nearly 3.1%, falling to its highest closing level since Oct. 11 set on Wednesday. Among the individual stocks, by the close, Alibaba, which announced that it would no longer promote the complete spin-off of Alibaba Cloud and the suspension of Hema IPO, fell more than 9%, Station B fell more than 7%, Weilai fell nearly 7%, Xiaopeng Motors fell more than 6%, Li Auto fell more than 4%, Tencent Pink Orders fell nearly 4%, Baidu fell more than 3%, and NetEase, which increased revenue by nearly 12% in the third quarter, fell more than 2%, and JD.com and Pinduoduo fell more than 1%.

Among the stocks that reported their earnings reports, Walmart (WMT), which raised its full-year EPS earnings guidance and still fell below analysts' expectations, closed down 8.1%, second only to Cisco among Dow constituents, and Cisco, which lowered its guidance for the quarter by more than 10% below expectations and lowered its full-year guidance, fell more than 10% intraday to close down 9.8%, leading the Dow constituents, and Cisco's rival Palo Alto Networks (PANW), which also disappointed in guidance, closed down 5.4%. Macy's (M), which had seen sales decline in the third quarter but unexpectedly profitable, closed up 5.7%.

In terms of European stocks, the pan-European stock index, which rose for three consecutive days, retreated. The Euro Stoxx 600 fell to its nearly eight-week high, which was refreshed on Wednesday. Stock indexes of major European countries were mixed, with British, French and Italian stocks halting three consecutive gains, while the Spanish parliament voted to approve Sanchez as prime minister for a second term, ending the long-term stalemate after the unclear results of the September general election, and domestic stock indexes and German stocks both rose for four consecutive days.

Among the sectors, oil and gas, which closed down 2.7%, led the decline, highlighting the blow of the sharp drop in crude oil. Personal & Household Goods, where luxury stocks are located, fell 1.5% on London-listed Burberry closed down 11.1% after saying it would struggle to meet its revenue target for the year due to a slowdown in luxury spending around the world, and other luxury giants also fell, with LVMH, Richemont and Kering closing down nearly 1.8%, more than 1.8% and nearly 2.7%, respectively.

Among other stocks, German fresh e-commerce company HelloFresh, which lowered its annual core profit guidance and narrowed its revenue growth guidance range, fell 22.4% to lead the decline in the STOXX 600 constituents, while Siemens, which saw sales increase by 10% in the third quarter and industrial profits hit a new single-quarter high, closed up 5.7%, supporting the German stock index to continue to rise.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

U.S. Treasury yields accelerated their pullback after unemployment data The 10-year yield fell 10 basis points intraday, approaching a more than seven-week low

European government bond prices rebounded, yields trailed US Treasuries, and UK Treasury yields fell the most, as investors increased bets on the Bank of England to cut interest rates next year after the UK's October CPI slowed more than expected on Wednesday. By the end of the bond market, the yield on the 10-year benchmark British government bond closed at 4.14%, down 8 basis points on the day, and the US stock market was close to 4.10% in early trading, the lowest since late May, and the benchmark 10-year German government bond yield closed at 2.59%, down 5 basis points during the day, and the US stock market fell to 2.56% in early trading, hitting a new low since September 4.

The U.S. 10-year benchmark Treasury yield was above 4.52% in early Asian trading, and quickly fell below 4.50% after the release of pre-market U.S. unemployment data, and U.S. stocks fell below 4.43% in early trading, approaching the low since September 22 after breaking 4.43% in Wednesday's intraday session, with an intraday decline of slightly more than 10 basis points, and about 4.44% at the end of the bond market, down about 9 basis points during the day.

The 2-year U.S. Treasury yield, which is more sensitive to the outlook for interest rates, rose to 4.91% in early Asian trading to refresh its daily high, and the decline also expanded rapidly after the release of unemployment data, with U.S. stocks falling below 4.82% in early trading, close to Tuesday's intraday low of 4.81% refreshed, falling nearly 10 basis points in the day, and about 4.84% by the end of the bond market, falling about 7 basis points in the day, and the 10-year Treasury yield both fell back after rebounding on Wednesday.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

Following Tuesday's plunge, Treasury yields of all maturities gave up gains from Wednesday's rally on Thursday

The U.S. dollar index quickly turned lower after the unemployment data, once approaching a two-and-a-half-month low, and Bitcoin fell more than $2,000 intraday

The ICE U.S. Dollar Index (DXY), which tracks the U.S. dollar against a basket of six major currencies, including the euro, rose above 104.50 to a new daily high in early Asian trading, rising nearly 0.2% on the day (104.394 on Wednesday) European stocks turned down more than once in the intraday, after regaining 104.50 to close to the high, the U.S. unemployment data was released after the rapid decline, U.S. stocks in early trading once almost fell below the 104.00 mark to 104.007, approaching Wednesday's fall below 104 after the refresh since September 1 intraday low, down nearly 0.4% in the day, and then gradually erased the decline, U.S. stocks turned up at noon.

By the close of trading on Thursday, the U.S. dollar index was above 104.30, down slightly during the day, while the Bloomberg dollar spot index, which tracks the greenback against 10 other currencies, fell slightly, and the dollar index both retreated after turning higher on Wednesday to halt three consecutive losses.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

The Bloomberg Dollar Spot Index snapped a three-day losing streak on Wednesday and returned to the decline on Thursday

Among non-U.S. currencies, the yen rebounded, with the U.S. dollar rising above 151.40 against the yen in pre-market and early European stocks, and quickly falling below 151.00 after the release of U.S. unemployment data, and the decline continued to expand, with U.S. stocks falling below 150.30 in early trading to refresh daily lows, down about 0.7% during the day , not close to Monday's rise above 151.90 since October last year; EUR/USD rose after the release of U.S. unemployment data, U.S. stocks approached 1.0900 in early trading, refreshing Tuesday's high since August 31, up nearly 0.5% in the day; GBP/USD also turned up intraday, U.S. stocks rose above 1.2450 in early trading, up 0.3% in the day, and Tuesday's rise above 1.2500 refreshed since September 14 is still far away.

The offshore yuan (CNH) fell to 7.2688 against the US dollar in early Asian trading to refresh the daily low, European stocks turned up in the short term after the morning rally, the US unemployment data was released after the gains expanded, the US stocks rose above 7.25 to 7.2428 in early trading, up 260 points from the daily low, began to approach Wednesday's intraday rise above 7.24 refreshed since August 11, Beijing time at 5:59 on November 17, offshore yuan against the US dollar reported 7.2487 yuan, up 99 points from the end of Wednesday New York, rebounded after Wednesday stopped two consecutive gains.

According to the report, the SEC has delayed the approval of the applications of Bitcoin spot ETF and Ethereum futures ETF, saying that more time is needed to properly evaluate the issues related to the application and make decisions on ETFs. Cryptocurrencies tumbled intraday. Bitcoin (BTC) rose above $37,900 in early Asian trading, accelerating its decline since the European stock market, and U.S. stocks fell below $35,600 at midday, down more than $2,400 and more than 6% from the daily high, and no longer approached the high since May last year when it approached $38,000 in intraday trading on Thursday, November 9, and U.S. stocks hovered at $36,000 at the close, down more than 4% in the last 24 hours.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

Bitcoin found support after falling more than $2,000 intraday

Crude oil hit a four-month low and the biggest drop in a month, and U.S. oil once fell nearly 6%

International crude oil futures have accelerated their decline since the pre-market of U.S. stocks, and when U.S. stocks refreshed their daily lows at midday, U.S. WTI crude oil fell below $72.20, down about 5.9% during the day, and Brent crude oil fell to $76.60, down more than 5.6% during the day, both hitting new intraday lows since July 7.

In the end, crude oil continued to close down en masse, hitting its biggest closing loss since Oct. 4. WTI crude oil futures for December delivery closed down 4.90% at $72.90 a barrel, closing lower for the second consecutive day. Brent crude oil futures for January delivery closed down 4.63% at $77.42 a barrel, falling for three consecutive days, and U.S. oil both refreshed the closing low of front-month contracts since July 6.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

U.S. WTI crude oil fell nearly 6% intraday at one point, falling to the level when OPEC+ stepped up supply cuts in July

London zinc fell 3%, bidding farewell to a half-year high, gold hit the biggest gain in a month, rebounding to a more than one-week high

The market is concerned about the situation of China's property market, and London base metal futures mostly fell on Thursday. Lunzinc, which had previously led the rise for two consecutive days, fell 3% to lead the decline, bidding farewell to the high level in half a year set by Lianglianyang. London copper, London aluminum and London tin, which have risen for three days, also fell, London copper and London tin fell from the high level of a month and a half and nearly a month respectively, and London aluminum approached the low level of more than a week set last Friday. London nickel fell more than 2%, falling for two consecutive days, closing close to $17,000, a new low since May 2021. The lead rose more than 1%, rising for three consecutive days to the highest level since the end of last year.

Gold rebounded on the back of the dollar's retreat, and gold futures in New York rose above $1,990 in early U.S. trading, up nearly 1.4% on the day, eventually erasing Wednesday's decline, closing up on the third day of the week.

COMEX gold futures for December delivery closed up 1.17%, the biggest gain since Oct. 18, at $1,987.3 an ounce, refreshing the highest closing level since Nov. 6.

The unemployment data sent the interest rate hike to the end, the U.S. bond rebounded, the U.S. stock rally was suspended, Ali fell more than 9%, and crude oil plummeted

Spot gold also rose more than 1% on Thursday, having been near $1,990 intraday

Read on