On Wednesday local time, investors continued to assess the prospect of the Federal Reserve's interest rate cuts, and as U.S. Treasury yields recovered, the rebound momentum of U.S. stocks in the past few days weakened, and the three major stock indexes were mixed on the day. At the close, the Dow fell 0.11%, the S&P 500 edged up 0.02%, and the Nasdaq rose 0.10%.
On the 24th, the international gold price fell
In terms of precious metals, international gold prices fell on Wednesday, falling for three consecutive days due to the rise in the dollar index and the rebound in U.S. Treasury yields. At the close, June gold futures on the New York Mercantile Exchange closed at $2,338.4 an ounce, down 0.16%.
Moody's downgrades Boeing's credit rating just one step away from junk ratings
In terms of the company, Boeing, which has frequent safety accidents, released its financial report for the first quarter of fiscal year 2024 on Wednesday, showing that the company's revenue for the quarter fell sharply by 8% year-on-year, but this decline was better than analysts' expectations, and the scale of losses narrowed. After the earnings report, Boeing shares opened 5% higher on the day. On the same day, the international rating agency Moody's downgraded Boeing's credit rating from Baa2 to Baa3, that is, just one notch higher than junk rating, with a negative outlook. Moody's expects Boeing to face financial difficulties in the coming years. Following the release of the rating report, Boeing shares turned lower intraday on Wednesday and finally closed down 2.87%.
Meta's main earnings report indicators were better than expected
The stock price fell more than 18% after hours
Tech giant Meta released its financial results for the first quarter of fiscal 2024 after market hours on Wednesday, and the company's revenue and earnings for the quarter were better than expected, especially the acceleration of advertising revenue growth in its core business. However, in the company's second-quarter guidance, the expected increase in revenue was significantly lower than market expectations. In addition, the company's previous strategic focus on the metaverse business has suffered huge losses for many consecutive quarters. Since the end of 2020, the cumulative loss has reached about $42 billion. After the earnings report, Meta's stock price fell more than 18% in the after-hours session on Wednesday.
On the 24th, the three major European stock indexes collectively closed down
In Europe, bank stocks and financial services stocks led the decline in European stock markets due to the negative earnings reports of some leading companies, and the three major European stock indexes collectively closed down on Wednesday. At the close, the UK stock market edged down 0.06%, the French stock market fell 0.17%, and the German stock market fell 0.27%.
The yen fell below the 155 mark against the dollar, hitting a new low in nearly 34 years
In the foreign exchange market, the market bets that the Bank of Japan's interest rate meeting this week will be "on hold", taking advantage of the US-Japan interest rate differential at a historical high for carry trades, the yen is under greater selling pressure, and the yen against the US dollar fell below the 155 yen mark per dollar on Wednesday, hitting a new low in nearly 34 years. As of Wednesday's close, the yen was trading at 155.347 yen per dollar. Some analysts pointed out that due to the limited room for adjustment of Japan's monetary policy, the short side of the yen may continue to test the bottom line of the Japanese government and the central bank.
International oil prices fell on the 24th
In terms of crude oil, gasoline supply in the United States fell to a two-month low last week, indicating that demand from the oil consumer side has fallen, and international oil prices fell on the day. At the close, light crude futures for June delivery on the New York Mercantile Exchange settled at $82.81 a barrel, down 0.66 percent, and London Brent crude futures for June delivery settled at $88.02 a barrel, down 0.45 percent.
Source: CCTV Finance