On Monday, local time, after the significant pullback of U.S. technology stocks last week, some analysts believed that the market was oversold, and investors bought on dips, pushing the three major U.S. stock indexes to collectively close higher, and the S&P 500 index and the Nasdaq ended the "six consecutive declines". At the close, the Dow rose 0.67%, the S&P 500 rose 0.87%, and the Nasdaq rose 1.11%.
On the 22nd, the international gold price fell significantly, down nearly 2.8%
With no signs of further escalation in the conflict between Israel and Iran, risk aversion in the market has cooled significantly, and the market is widely expected that the Federal Reserve will delay interest rate cuts, US Treasury yields have rebounded sharply recently, and international gold prices fell sharply on Monday, falling nearly 2.8%, the biggest one-day drop since early February last year. At the close, June gold futures on the New York Mercantile Exchange closed at $2,346.4 an ounce, down 2.79%.
UBS downgraded the stocks of six major U.S. tech giants
UBS downgraded the shares of the six major U.S. tech giants — Microsoft, Apple, Nvidia, Google's parent company Alphabet, Amazon and Meta — from "overweight" to "neutral" in a report released on Monday. The report pointed out that the earnings momentum of these technology companies in the past is facing signs of weakening due to cyclical factors, and UBS is still optimistic about the prospects of the AI industry.
Shares of the six tech giants were not significantly affected by the report, and collectively closed slightly higher on Monday. Investors are more concerned about whether the profit growth of the tech giants in the first quarter can meet expectations. Some institutions expect that excluding the seven major technology companies, including Tesla, the profits of the remaining constituents of the S&P 500 index will decline in the first quarter. The earnings reports of tech giants may be an important factor driving the rebound of major US stock indexes.
On the 22nd, the three major European stock indexes rose collectively
In Europe, Bank of England Governor Bailey recently said that inflation in the UK in the next three years will be lower than previously expected, closer to the central bank's 2% inflation target. This remark was interpreted by the market as a "dovish" signal, investors' risk appetite rebounded, and the three major European stock indexes collectively closed higher on Monday. At the close, the UK stock market rose 1.62%, the French stock market rose 0.22%, and the German stock market rose 0.70%.
The yen exchange rate against the US dollar hit a new low since 1990 on the 22nd
In the currency market, the U.S. dollar index fell slightly on Monday, still above 106, which is the highest level in nearly five months. The market widely expects the Bank of Japan to "hold its ground" at this week's interest rate meeting. While keeping interest rates unchanged and continuing to maintain loose liquidity through bond purchases, the yen continued to approach the 155 yen per dollar mark against the dollar on Monday, hitting a new low since 1990. Investors are paying close attention to whether "155" will become a key psychological bottom line for the Japanese government and the central bank, and whether they will intervene in the foreign exchange market.
International oil prices fell slightly on the 22nd
In terms of crude oil, there is no trend of further escalation of geopolitical conflicts in the Middle East, the month-on-month increase in U.S. commercial crude oil inventories, and the rebound of the dollar index to a nearly five-month high, all of which put pressure on crude oil futures, and international oil prices fell slightly on Monday. At the close, light crude futures for May delivery on the New York Mercantile Exchange settled at $82.85 a barrel, down 0.35 percent, and London Brent crude futures for June delivery settled at $87.0 a barrel, down 0.33 percent.
Source: CCTV Finance