Stocks fell for the eighth straight week, the longest losing streak since 1923
U.S. stocks ended down on Friday. The Dow fell for the eighth straight week, its longest losing streak since 1923. The S&P 500 briefly entered a bear market during the session. Following Wal-mart (119.2, 0.13, 0.11%) and Target (155.36, 1.93, 1.26%), another retailer has issued a warning. Markets fear the Fed’s aggressive policy of raising interest rates to control soaring inflation will cause a recession.IB轉倉優惠
The Dow Jones Industrial Average rose 8.77 points, or 0.03%, to 31261.90. Nasdaq fell 33.88 points, or 0.30 percent, to 11354.62. The S&P 500 rose 0.57 point, or 0.01 percent, to 3901.36.IB開戶
All three major U.S. stock indexes fell this week on concerns that the Federal Reserve won’t be able to control soaring inflation without causing a recession. The Dow Jones Industrial Average fell 2.9%, recording its eighth straight week of losses for the first time since 1923, its longest losing streak ever.IB收費
The S&P 500 and nasdaq fell 3.04 percent and 3.82 percent, respectively, marking their seventh straight weekly decline.轉倉IB
The S&P 500 is on the verge of a bear market. Wall Street has no official definition of a bear market. Some believe the S&P (3901.3601, 0.57, 0.01%) has confirmed a bear market on Friday, while others think the index needs to close below 3837.25 — more than 20% below its recent high — to signal a technical bear market. At Friday’s intraday low, the S&P 500 was down 20.9 percent from its recent high.IB外匯
George Ball, chairman of Sanders Morris Harris Investment, commented: “U.S. stocks remain expensive, and the optimism that drove them up for a decade has turned negative. Bear markets last, on average, a year (338 days, to be more precise). The us equity downturn has lasted less than a third of the bear market, so it may have more downside, despite occasional brief rallies.”
The s&p 500 is teetering on the edge of a bear market as the U.S. struggles with the biggest inflation surge in decades. Inflation has been exacerbated by soaring energy prices, a combination of war with Ukraine, supply chain strains and an aggressive Federal Reserve rate hike that has investors worried about a us recession.IB 離岸戶口
The surge in inflation forced the Fed to start raising interest rates in March for the first time in more than three years. But the Fed’s rate rises did not immediately stem the upward trend in inflation, and by early May the Central bank had suddenly become more aggressive, raising rates by half a percentage point. Powell and several other Fed officials also said they would raise interest rates by 50 basis points multiple times at future meetings, and that inflation was unrelatable.IB 入錢
High-valued growth and technology stocks were hammered by the Fed’s rate hikes. But the selling eventually spread to other parts of the market. Through Friday, the energy sector was the only sector in the S&P 500 with gains so far this year, thanks largely to a surge in energy prices that has created red-hot inflation.IB 優惠
Poor quarterly results and warnings from major retailers led by Wal-Mart and Target added to pressure on the broader stock market this week, raising concerns about companies’ ability to keep up with inflation and consumers’ willingness to pay higher prices.
Johan Grahn, head of ETF strategy at Allianz Investment Management, said: “When you go into a bear market, at some point the market will turn around. But the market will not turn around until inflation falls and consumers become more able and willing to spend at the same time. It’s a pretty long cycle.”比特幣ETF
The March 2020 bear market in U.S. stocks lasted just 33 days before the S&P 500 eventually bounced back to record highs as investors bet on Internet companies that thrived during the coronavirus pandemic.
On Friday, technology stocks sold off, with chip stocks such as Nvidia, AMD(93.5, -3.17, -3.28%) and Marvell leading the decline.
Fears of inflation and recession led to widespread losses in the banking sector. Jpmorgan chase (117.34, -0.97, -0.82%) and Bank of America fell.熊市
Department store retailer Ross plunged more than 22 per cent. The company’s first-quarter revenue and earnings both missed market expectations. Ross also cut guidance because of concerns about inflation and higher freight rates.
The move follows disappointing results and guidance this week from big retailers such as walmart and Target, hit by soaring costs and inflationary pressures.黃金ETF
In the latest development in the war between Russia and Ukraine, the U.S. Senate has passed a more than $40 billion aid package for Ukraine, sending the bill to President Biden for his signature. Meanwhile, German Finance Minister Lindner said the GROUP of Seven will agree to provide Ukraine with more than 18 billion euros in aid.熊市
Focus on individual stocks
Ross closed down 22.47 percent after its quarterly results missed expectations and forecast a 2 percent to 4 percent decline in full-year same-store sales.
Tesla (663.9, -45.52, -6.42%) announced it will build the world’s largest supercharger.投資黃金
Twitter executives said the deal with Musk went as expected.
Boeing (120.7, -6.44, -5.07%) reached an agreement with IAG to sell 50 aircraft.
Sources say Asmetsch is working on a $400 million next-generation lithography machine.金價走勢
Grab’s first-quarter revenue and full-year guidance beat market expectations.
Coinbase directors increased their holdings by 385,300 shares.
DoorDash(66.23, -0.72, -1.08%) approved a buyback of up to $400 million of its shares.失業貸款
Palo Alto Networks announced results that beat expectations.
TSMC (90.78, 0.57, 0.63%) will raise foundry foundry prices across the board from January next year, and some TSMC customers have confirmed that they have received price increases.投資教學
Nio (16.44, -0.22, -1.32%) Hong Kong shares were included in hang Seng Technology Index and Hang Seng Composite Index.
Method bar (26.73, 0.08, 0.30%) give jingdong (52.17, 0.61, 1.16%) “buy” rating, think its reasonable value for the $105 U.S. stocks.
The number of visits to Ctrip’s platform jumped nearly 40% in the last week compared with the same period in April.美股入門教學
Elsewhere, gold futures for June delivery edged up 90 cents, or less than 0.1%, to settle at $1,842.10 an ounce on the New York Mercantile Exchange.
Gold futures rose 1.7% for the week, breaking a four-week losing streak.美股交易時間
Silver futures for July delivery fell 23 cents, or 1.1%, to settle at $21.674 an ounce. Silver futures rose 3.3% on a most-active contract basis, their biggest weekly percentage gain since April 14.IB外匯教學
July West Texas Intermediate, the most actively traded crude, rose 39 cents, or 0.4 per cent, to settle at $110.28 a barrel on the New York Mercantile Exchange. June WTI futures rose $1.02, or 0.9 percent, to settle at $113.23 a barrel.外匯投資
Brent crude for July delivery rose 51 cents, or 0.4%, to settle at $112.55 a barrel on ICE Futures Europe.
On a front-month basis, U.S. WTI rose 2.5% and ICE Brent rose 0.9% for the week.恒生指數成份股比重