In the early hours of the 11th Beijing time, U. S. stocks fell late Friday, with the Dow and the S & P 500 likely to record a fifth consecutive day of decline. In a sign of rising inflation, US PPI rose 8.3 per cent year-on-year in August, the biggest increase on record. U.S. president Joe Biden announced strict vaccination orders on Thursday.
The Dow fell 82.34 points, or 0.24%, to 34797.04; the Nasdaq fell 24.51 points, or 0.16%, to 15223.75; and the S & P 500 fell 7.98 points, or 0.18%, to 4485.30.
U. S. stocks closed lower on Thursday as concerns about a weak economic recovery and a worsening epidemic weighed on stock indexes. Both the Dow and the S & P 500 recorded four consecutive days of declines. The Dow is likely to record a second straight week of decline this week. Both the S & P 500 and the Nasdaq are likely to record losses this week.
On the economic data side on Friday, the labour department reported that the US producer price index (PPI) rose 0.7 per cent in August, down from 1 per cent in July. The economists surveyed had expected PPI to grow by 0.6 per cent in August.
Excluding volatile food and energy prices, the core producer price index rose 0.3 per cent in August, down from 0.9 per cent in July.
But overall producer prices rose 8.3 per cent in August from a year earlier, up from 7.8 per cent last month, the biggest increase since data collection began in November 2010.
The core PPI index rose 6.3 per cent from a year earlier, up from 6.1 per cent in July, the biggest increase since the data were first calculated in August 2014.
The more important consumer price index (CPI) will be released next Tuesday.
September has always been a weak month for the US stock market. Last week's Labor Department's August non-farm payrolls report fell far short of expectations, raising questions about the state of the US economic recovery and prompting investors to sell stocks for several days in a row.
On Thursday, a number of airlines downgraded their performance forecasts, citing weak travel demand as a result of the accelerated spread of COVID-19 's mutant strain. The current daily average number of new confirmed cases of COVID-19 in the United States is the same as in January.
Delta Airlines, American Airlines and other airline stocks and energy stocks rebounded on Friday. Boeing CoAnd FedEx CorpCyclical stocks are generally higher.
Wells Fargo & CoThe US Office of the Comptroller of the currency (OCC) fined $250 million for Wells Fargo & Co's lack of progress in solving long-standing problems in his home mortgage business and violating his 2018 compliance consent order, the US Office of the Comptroller of the currency said on Friday. In addition, the Consumer Financial Protection Bureau (Consumer Financial Protection Bureau) agreement order related to 2016 sales behavior has been concluded.
Us President Joe Biden signed two executive orders on the 9th, requiring US government employees and government service contractors to be vaccinated against COVID-19. It is reported that Biden's decree will affect about 2.1 million federal employees and apply to millions of service contractors who do business with the US government.
In addition to the above policies, Biden also announced a series of "new steps" in the fight against the epidemic on the same day, including requiring enterprises with more than 100 people to implement a vaccination or weekly testing system, requiring all employees of medical institutions providing health insurance services to be vaccinated, and redoubling penalties for air passengers who refuse to wear masks.
Biden's announcement of these policies comes at a time when the cumulative number of COVID-19 diagnosed in the United States has exceeded 40 million. Since July, the United States has experienced the fourth wave of the COVID-19 epidemic, with an average of more than 150000 new confirmed cases and more than 1500 deaths a day.
In order to improve the vaccination rate, Biden implemented a policy of "vaccination or testing" in federal agencies at the end of July, while encouraging people to be vaccinated in the form of fancy incentives. But more than a month later, the vaccination population in the United States has increased by only about 10 million.
While the new crown Delta mutant is spreading rapidly in the United States, another new crown variant is spreading in the United States. According to the latest data from the Centers for Disease Control and Prevention (CDC), another mutated strain of novel coronavirus, Mu, has been detected in 49 states in the United States, which is spreading much faster than infectious disease experts had expected.
The spread of Mu mutants could complicate the epidemic in the United States. Over the past week, the United States has seen an average of more than 161000 new cases a day and 1560 new deaths, putting heavy pressure on the health care system in many parts of the country.
The Fed will hold a two-day monetary policy meeting on Sept. 21-22, and markets will keep a close eye on the Fed's latest position on its bond-buying program. The European Central Bank left its monetary policy unchanged on Thursday, but said it would slow the pace of its asset purchase program.
UBSMark Haefele, chief investment officer of global wealth management, said: "the pace of policy change will be slow enough not to undermine the economic recovery or stock market rebound. And the difference between more hawkish and dovish central banks will create opportunities. "
Focus stocks
Affirm Holdings's latest after-hours quarterly results on Thursday showed fourth-quarter revenue of $261.8 million, up 71 per cent from a year earlier.
UberAnd DoorDashSuing New York City for lifting the commission ceiling. After the New York City Council passed legislation at the end of August requiring the delivery platform to operate with a license and permanently restricting the platform from withdrawing commission from catering merchants, DoorDash, Grubhub and UBER TECHNOLOGIES INC's Uber Eats filed a lawsuit against New York City on Thursday and sought an injunction to block the law from coming into effect.
Alphabet Inc-CL CThe launch of a low-cost smartphone, the JioPhone Next, developed in partnership with Indian companies, will be delayed until November, suggesting it will miss Diwali, India's traditional shopping season.
AmazonThe first private-brand TV series, the Fire TV Omni and Fire TV 4, will be launched in October, it was announced on Thursday. Amazon.Com Inc launched a new TV, releasing the latest signal for tech giants to enter the smart home industry.
Facebook IncOn Thursday, it unveiled its first smart glasses, which were launched in partnership with EssilorLuxottica. With two built-in 5 million-pixel cameras, it can take photos from a first-person perspective, listen to music, answer phone calls, and share them among Facebook Inc's services through a matching app.
ToyotaGlobal production in September and October will be about 400000 vehicles lower than planned, it was announced on the 10th. Toyota has been forced to cut production by 360000 vehicles against the backdrop of parts procurement difficulties and a global shortage of semiconductors caused by the COVID-19 epidemic in Southeast Asia. Production for the whole year of 2021 is also expected to be reduced by 3 per cent to 9 million vehicles from the initial 9.3 million vehicles. Toyota originally planned to produce 880000 vehicles in October and will cut production by 330000 vehicles, or about 40%. In September, it was planned to cut production by 360000 vehicles, with an additional reduction of 70, 000 vehicles.
Three funds owned by Cathy Wood, founder of Ark Investment Company, sold Tesla, Inc. for two consecutive days on Wednesday and Thursday.The stock, which took advantage of its recovery from months of lacklustre performance, cashed out a total of about $138.5 million. After selling 142708 Tesla, Inc. shares on Wednesday, the three funds sold another 40940 shares on Thursday, a total of 183648 shares in two days. Tesla, Inc. 's shares have risen about 3 per cent so far this week and closed 0.13 per cent higher at $754.86 on Thursday. The company's shares have risen about 3.4 per cent so far this year. According to analysis, Wood sold a small amount of Tesla, Inc. stock this time, which is to do band trading at every high price. Tesla, Inc. remains one of its most important positions.