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发生了什么?隔夜美股上演戏剧性走势,道指创近百年最长连跌周

WHAT HAPPENED? Overnight, US stocks staged a dramatic trend, and the Dow recorded the longest consecutive week of decline in nearly 100 years

中國基金報 ·  May 21, 2022 09:21

Source: China Fund Daily

Author: Ivan

Original title: late-night thunder! The giant fell 22% overnight! Russia made a sudden move: "out of breath" Finland

On the last trading day of the week, on Friday (May 20) local time, the three major US indexes staged a dramatic trend, rebounded from a small V-shaped rebound, and closed mixed.

Leading technology stocks were mixed, with Tesla, Inc. losing nearly 6.5 per cent of his market value by about $44 billion (about 280 billion yuan), setting a new low since August last year.

Another performance thunder! Us retail discount department store chain Ross department store plunged more than 22%, the lowest in more than two years.

Popular Chinese stocks fell back from the last trading day, but one stock soared by more than 53%.

The trend became dramatic, and the Dow recorded the longest consecutive decline in nearly a century.

As fears of a US recession persist and options expire, US stocks acted like a roller coaster on Friday. At the start of the session, the S & P 500 fell into a bear market, the Dow fell more than 600 points, and the Nasdaq fell more than 2% at one point. However, there was a dramatic reversal in late trading, and the three major stock indexes rose one after another.

By the close, the Dow was up 0.03%, down 2.9% this week, the longest losing streak since 1923; the Nasdaq closed down 0.3%, down 3.82% this week, making the weekly line seven consecutive declines; the S & P 500 rose 0.01%, down 3.04% this week, making it the longest weekly decline since 2001.

In terms of constituent stocks, Cisco Systems, who plummeted in the last trading day, rose 2.92%, and Saifu rose 2.65%, leading the Dow.

On the macro policy front, James Bullard, the Fed's voting committee, said the market had repriced, in part because of Fed policy. The Fed has a good plan to control inflation. Interest rates should reach 3.5% by the end of the year, he said. Raising interest rates by 50 basis points is a good plan, but the data must be reviewed.

Mr Brad also expects US GDP growth of between 2.5 per cent and 3 per cent in 2022; no recession is expected this year.

Some analysts say the market is unlikely to stabilise until the Fed persuades investors that it can tighten monetary policy and curb inflation without triggering an economic downturn.

Brian Levitt, global market strategist at Invesco, said: "it is clear that in a very short period of time we have shifted from epidemic panic to inflation panic and now to serious concerns about economic growth.

Russia suddenly lost its breath in Finland.

According to CCTV news, Finnish gas company Gasum issued a statement on the 20th local time, Gazprom informed the company that the delivery of natural gas to Finland under the contract will be terminated at 7: 00 on May 21.

In response to a reporter's question, Peskov, press secretary of the Russian president, said that the Kremlin does not have information about all the companies that have signed contracts with Gazprom, but it is an obvious fact that no one will provide anything to anyone for free.

Gasum, a Finnish gas company, has previously said it refuses to settle gas purchases from Russia in rubles.

Technology stocks are mixed, and Tesla, Inc. 's market capitalization has lost about $44 billion.

Large leading technology stocks vary, with Amazon.Com Inc up 0.25%, Apple Inc up 0.17%, Alphabet Inc-CL C down 1.34%, and Nai soaring 1.56%.

Tesla, Inc. closed down 6.42%, setting a new low since August last year, wiping out about $44 billion (about 280 billion yuan) in market value. At one point, its intraday decline was more than 10%. It closed at $663.9 per share, with a total market capitalization of $686.146 billion. Tesla, Inc. has fallen more than 40 per cent from its all-time high in November.

In addition, as of Thursday, US Eastern time, Tesla, Inc. had lost her position as the largest stock in the Casey Wood flagship fund for the first time in about four and a half years.

(source: Bloomberg)

In addition to the decline in Tesla, Inc. 's share price, wooden Sister's flagship fund has been reducing its stake in Tesla, Inc. over the past four quarters, falling from 5.79 million shares to 1.59 million shares.

It is worth noting that Wall Street seems to be beginning to be cautious about Tesla, Inc.. According to statistics, according to the current release of first-quarter position data, the number of institutions in new positions in Tesla fell by nearly 70% year-on-year, the number of institutions cleared nearly doubled compared with the same period last year, and Qiaoshui, the world's largest hedge fund, unexpectedly cleared its positions.

In response to investor concerns, Tesla, Inc. CEO Elon Musk tweeted today that he thought about Tesla, Inc. all the time and said he spent less than 5% of his time buying Twitter. This is not rocket science!

(source: Musk Twitter)

Another performance thunder! Retail discount department store chain giant Ross Department Store plunged more than 22%

After Walmart Inc and Target Corp (Target), U. S. retail stocks reappear a performance thunderstorm.

On Friday, May 20, US Eastern time, US discount department store chain Ross Stores opened down more than 24%, fell nearly 25% on the day, and finally closed down 22.47%, the biggest one-day decline since 1986 to close at $71.87, the lowest since March 24, 2020.

The reason for the slump is the thunderous performance. After the last session, Ross released its results for the first quarter ended April 30. The results show that Ross's revenue, profit and same-store sales growth in the first quarter were all lower than expected.

Specifically, first-quarter sales fell 4.4 per cent year-on-year to $4.3 billion, while analysts expected $4.5 billion to remain unchanged from a year earlier; same-store sales fell 7 per cent year-on-year, well ahead of analysts' expectations of a 2.7 per cent decline.

First-quarter earnings per share (EPS) fell 27.6% year-on-year to 97 cents, while net income fell 29% to $388 million. Analysts expect EPS to be $1.00, down 25.4% from a year earlier.

The performance guidance also disappointed the market. It expects same-store sales to fall 4% to 6% in the second quarter, higher than analysts' expectations of 2.5% growth. The company expects full-year same-store sales to fall 2 to 4 per cent, compared with zero to 3 per cent growth; it expects full-year EPS to be between $4.34 and $4.58, down about 6 to 10.9 per cent from the previous fiscal year.

Ross's CEO Barbara Rentler commented on the results that the external environment had proved that fiscal year 2022 was extremely challenging because the conflict between Russia and Ukraine intensified high inflationary pressures that consumers had not seen in four decades. Michael Hartshorn, chief operating officer of the division, also said on the earnings call that the inflationary environment is much more serious than we expected at the beginning of the year.

In addition, it is worth noting that this week, the US retail giants Walmart Inc, Target Corp and Ross all showed thunderous performance due to high inflation and high costs, which brought tremendous pressure to the market.Next week, more retail giants such as Costco Wholesale Corp (Costco), Best Buy (BBY) and Macy's (Macy's) will also report results one after another. If the results are poor, it may trigger a sell-off again.

Chinese stocks fell back, but one stock soared by more than 55%.

Chinese stocks were mixed, with the NASDAQ Golden Dragon Index falling 0.86% to close at 6387.

Among the hot US-listed stocks, Baidu fell 0.69%, BABA fell 1.03%, JD.com fell 1.16%, Meituan fell 2.45%, NetEase, Inc youdao fell 6.35%, DiDi Global Inc. fell 6.83%, NetEase, Inc rose 1.59%, Weibo Corp rose 1.03%, iQIYI, Inc., HUYA Inc., Bilibili and Wiping will rise more than 0.8%. Dingdong (Cayman) Limited fell 13.12%, KE Holdings Inc. fell 2.19%, and Pinduoduo fell 2.73%.

NIO Inc. Automobile, the new force of car building, fell 1.32%, XPeng Inc. fell 1.44%, and Li Auto Inc. rose 0.04%.

But there is a Chinese stock up "hi"! Leju Holdings Ltd, a Chinese real estate home internet platform, surged more than 55 per cent after it was reported that the stock changed the ADS ratio to 1 ADS to represent 10 common shares, triggering circuit breakers several times in intraday trading.

Edit / somer

The translation is provided by third-party software.


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