On the evening of the 25th Beijing time, the market paid close attention to the performance of retailers on Black Friday and continued to assess the Fed's monetary policy prospects. U. S. stocks will be closed three hours early on Friday.
As a trading day sandwiched between Thanksgiving and weekend, the three major indexes of u.s. stocks fluctuated in a narrow range, with the s & p 500 down 0.02%, the Nasdaq down 0.46% and the Dow up 0.21% as of press time. In addition, due to the Thanksgiving holiday, U. S. stocks will close three hours early today.
Starting on Friday, local time, the United States has entered the most important shopping season of the year-the so-called Black Friday.Against a backdrop of high inflation, investors are keeping a close eye on US retail stocks as a barometer of consumer confidence.
The discretionary consumer sector of the s & p 500 has fallen 32 per cent so far this year, more than double the 15.5 per cent decline in the s & p 500, as soaring inflation and the fed's fastest rate hike since the 1970s hit consumer confidence.
However, with the US consumer price index lower than expected in October and below 8 per cent for the first time in eight months, it is widely believed that inflation has finally peaked after nearing a 40-year high and the US stock market has rebounded across the board.
Jim Paulsen, chief investment strategist at Leuthord Group, said:These [retail] stocks will be clues to the pace of the economic slowdown and whether the slowdown in inflation is boosting public confidence.
The National Retail Federation expects holiday sales, including e-commerce, to rise 6-8 per cent in November and December to $942.6 billion-$960.4 billion, but that is down from 13.5 per cent in 2021 and 9.3 per cent in 2020.
Include$Target (TGT.US)$、$Kohl's Corp (KSS.US)$、$Amazon (AMZN.US)$Us retailers, including retail companies, also seem to have unusually held heavily discounted sales activities in advance this year to attract consumers.
In addition, investors' expectations of a 50 basis point rate hike in December rose from 75 per cent to about 80 per cent after the release of the minutes of the Fed's November meeting. Michael James, managing director of equity trading at Wedbush Securities, said: "the mere fact that they will slow down the pace of raising interest rates confirms what most people have always wanted to see."
Economists within the Fed estimate that the chances of the US economy falling into recession next year are close to 50 per cent.
Focus stocks
Most star technology stocks fell.$Apple (AAPL.US)$Drop by more than 2%$NVIDIA (NVDA.US)$Drop by more than 1%$Tesla (TSLA.US)$、$Amazon (AMZN.US)$Follow the fall.
Hot Chinese stocks fell collectively.$Trip.com (TCOM.US)$Drop by more than 6%$Li Auto (LI.US)$、$XPeng (XPEV.US)$Drop by more than 5%$NIO Inc (NIO.US)$、$JD.com (JD.US)$Down by more than 4%$Alibaba (BABA.US)$Down nearly 4%.
Most retailers fell slightly.$Walmart (WMT.US)$、$Costco (COST.US)$、$Dollar General (DG.US)$All of them recorded a decrease.
$Tesla (TSLA.US)$After a slight drop, Tesla, Inc. recalled nearly 81000 electric vehicles in China because of software and seat belt problems, exceeding the usual delivery at his Shanghai plant in any January. Tesla, Inc. will recall 70434 imported Model S, Model X and Model 3 electric vehicles, as well as 10127 domestic Model 3 electric vehicles, the State Administration of Market Supervision and Administration said in an announcement on Friday.
Manchester United (MANU.US) $rose more than 10%, according to news that former Manchester United star David Beckham may be interested in buying.
$Ford Motor (F.US)$Falling nearly 1%, the company announced that it had recalled 634000 SUV vehicles worldwide because of the potential for fuel injectors to break and cause fire. The recall involves 2020-2023 Escape and Bronco models. So far, the company has received 54 reports of fires related to the problem.
Edit / somer