Tencent Securities News U. S. stocks rose slightly in early trading on Wednesday, because the international situation temporarily stabilized, thus prompting some investors to return to the market. At the same time, the market is also watching the speech of Federal Reserve Chairman Powell and a series of economic data.
As of press time, the Dow rose 58 points, or 0.2%, to 24758.22, after rising more than 100 points. The S & P 500 rose 0.3% to 2771.42, led by the technology sector. The Nasdaq rose 0.7% to 7780.81, an all-time high.
In Tuesday's trading, the Dow Jones industrial average closed down 287.26 points, or 1.2%, at 24700.21, recovering from today's lows after falling as high as 420 points on Monday. The s & p 500 closed down 0.4% and the Nasdaq composite index fell 0.3%.
Market drivers:
The US current account for the first quarter is-$124.1 billion and is expected to be-$129 billion, with the previous value of-$128.2 billion revised to-$116.1 billion.
The total number of existing home sales in the United States in May was 5.43 million, with an estimated 5.52 million, compared with a previous value of 5.46 million. The total number of existing home sales in the United States in May was-0.4% annualized compared with 1.1% expected, and the previous value was-2.5%.
According to a speech to be delivered by Federal Reserve Chairman Jerome Powell at the ECB Forum in Centra, Portugal, members of the Federal Open Market Committee (FOMC) widely supported the continuation of a gradual increase in the federal funds rate. Mr Powell said inflation had risen close to the Fed's 2 per cent target and had not yet seen it remain sustainable near the target. The case for a continued gradual increase in the federal funds rate remains strong and widely supported.
Strategists' comments:
In overnight trading, all major stock index futures showed an upward trend, which laid the foundation for the opening of US stocks. However, after suffering yesterday's technical damage, we still take a cautious position. " Said Peter Cardillo, chief market economist at Spartan Capital, an investment firm. "in terms of macroeconomic data, the market is focusing on existing home sales data, as well as crude oil inventory data."
Key stocks:
Walt Disney Company (NYSE:DIS) announced on Wednesday that it had raised its bid for 21st Century Fox's film and television assets to $71.3 billion, or $38 a share, up from $28 a share announced in December.
The standard P Dow Dow Jones Indices announced on Tuesday that the company would putGeneral Electric Co(NSYE:GE) kick out the Dow and replace it with Walgreens United Boots (NASDAQ:WBA).
According to internal documents cited by the US media Business Insider, so far in JuneTesla(NASDAQ:TSLA) has produced about 6000 Model 3 cars.
The board of directors of 21st Century Fox (NASDAQ:FOXA) will meet today to discuss whether NBC Global and CNBC parent companies should be considered.Comcast Corp(NASDAQ:CMCSA) the $65 billion offer for its assets should stick to the $52 billion offer the company had previously made with Walt Disney Company.
AT&T Inc (NYSE:T) is in merger talks to buy digital advertising technology company AppNexus for about $1.6 billion, the Wall Street Journal reported.
Starbucks(NASDAQ:SBUX) announced it would close 150 US stores and said its same-store sales growth would be lower than Wall Street analysts had expected. After thatMorgan Stanley(NYSE:MS) downgraded Starbucks Corp's stock rating from "overweight" to "shareholding wait and see".
Oracle(NYSE:ORCL) the company's adjusted earnings per share last quarter beat Wall Street analysts' expectations by an average of 5 cents to 99 cents, according to after-hours results on Tuesday. The business software developer's revenue also beat expectations, but its earnings outlook for the current quarter was lower than expected, in part because of the negative impact of a stronger dollar.
In the European and Asia-Pacific markets:
European stocks rose across the board, with the European Stoxx 600 index rising 0.6%. As of the close, the Prev index was up 0.27% at 2915 points, and the Shenzhen Composite Index was up 0.92% at 9501 points. The Nikkei 225 index closed up 1.2%.