Sina U. S. stocks on January 18 U. S. stock market rose slightly on Friday, once again setting an all-time high. Us stocks have performed strongly this week against a backdrop of strong global economic data and a good start to the corporate earnings season.
By the close, Dow JonesThe index closed up 50.46 points, or 0.17%, at 29348.10; NasdaqThe index closed up 31.81 points, or 0.34%, at 9388.94, while the S & P 500 closed up 12.81 points, or 0.39%, at 3329.62. This week, the Dow is up 1.82%, the Nasdaq is up 2.29%, and the S & P 500 is up 1.96%, the biggest weekly gain since the last week of August 2019.
"the market is full of enthusiasm, with earnings and strong data supporting the market," said Peter Cardillo, chief market analyst at Spartan Capital Securities in New York. "
Jeremy Siegel, a professor at the Wharton School of Business at the University of Pennsylvania and super bullish on Wall Street, thinks the Dow could reach 30000 this month, but warns that there are still hidden dangers.
Mr Siegel said the Dow 30000 could be a breakthrough for a record rebound. "the market is rising too much, too fast," he said. Once you walk too fast, a small stone will throw you away. "
The company's earnings were better than expected. So far, more than 8 per cent of S & P 500 companies have reported quarterly results, according to FactSet. Of these companies, 72% reported better-than-expected earnings.
"risk assets are off to a good start in 2020," Gregory Faranello, head of interest rates at AmeriVet Securities, said in a report. "Last year's returns were very high. But if you take into account the adjustment of US stocks at the end of 2018, the situation is not so optimistic. "
Us housing starts surged nearly 17 per cent in December to a 13-year high, with agency comments pointing to an increase in overall activity, suggesting that the housing market is back on track amid low mortgage rates. could help support the longest economic expansion on record.
The number of job openings in the US fell to its lowest level in nearly two years in November, suggesting that more employers believe the number of employees is sufficient to meet demand. According to the Department of Labor's Job Vacancy and Labor turnover Survey (JOLTS), the number of jobs waiting to be filled fell by 561000 to 6.8 million in November. The number of job openings has fallen steadily from a peak of 7.63 million in 2018.
Us consumer confidence remained high in early 2020, with the University of Michigan consumer confidence index falling slightly to 99.1 in January from a seven-month high of 99.3 in December. The current situation index rose slightly to 115.8, while the expected index fell to 88.3. The relatively strong confidence index suggests that consumers have the ability to help drive a record period of economic expansion even if business investment remains sluggish.
Philadelphia Federal Reserve Bank President Patrick Patrick Harker said Friday that a strong labor market is boosting consumer confidence and the U.S. economy, even though adverse factors such as the global economic slowdown and trade uncertainty are weighing on business investment. The u.s. economy is expected to grow by about 2% this year, and inflation is expected to meet the fed's 2% target, he said.
"another question is whether the Fed should expand our toolkit-whether we can or should do more to ensure interest rate control," Huck said. "
"one possibility under discussion is the permanent repurchase tool," he said. We are assessing the potential costs and benefits of this tool and exploring possible designs and alternatives, so it is still at the stage of discussion rather than decision-making. "
Focus stocks
Boeing CoAfter closing down 2.37%, the company found a new software bug in the grounded 737 Max, and more work needed to be done to get the plane back to flight.
LIZHI INC, the first online audio share in China.Trading closed up 5.73% on the first day of trading, and at one point it rose more than 35% in intraday trading to trigger a circuit breaker and was temporarily suspended.
Qualcomm IncIt rose 4.49%, up nearly 70% from its April low, reaching a peak of $96.17, setting an intraday high since January 3, 2000, when it hit an all-time high of $100.00.
TeslaDown 0.58%, the National Highway Traffic Safety Administration (NHTSA) said on Friday that it would review a petition asking the agency to formally investigate 500000 Tesla, Inc. models. The petition covers Tesla, Inc. Model S from 2012 to 2019, Tesla, Inc. Model X from 2016 to 2019 and Tesla, Inc. Model 3 from 2018 to 2019, the agency said.
Alphabet Inc-CL CParent company Alphabet shares rose 2.02%, leading FAANG's top five technology stocks to a new closing record. The company on Thursday became the fourth company in the United States to have a market capitalization of more than $1 trillion.
Deutsche Bank closed down 1.35%, and Deutsche Bank cut its investment bank bonus pool by about 30%, according to people familiar with the matter. after a tumultuous year, Deutsche Bank embarked on a massive restructuring and further cut employees' salaries.
Other markets
Europe's Stoxx 600 index rose 0.96% to an all-time high of 424.90, up 1.29% this week, its biggest weekly gain since December 20. Germany's DAX 30 index closed 0.72% higher at 13526.13, its highest close since January 2018 and up 0.32% this week.
The Shanghai Composite index rose 0.05% to 3075.50, the Nikkei 225 index rose 0.43% to 24045.00, and Hong Kong's Hang Seng index rose 0.60% to 29056.42.
Spot palladium closed 7 per cent higher at $2475.60 an ounce on Friday, breaking through $2500 an ounce, an all-time high of $2537.06, the biggest weekly gain since 2001 and up more than 16 per cent this week. Spot gold edged up 0.3 per cent to $1557.12 an ounce, but it was the first weekly decline in six years and was down 0.3 per cent this week. Gold futures rose 0.4% to $1557.12 an ounce. Silver rose 0.3% to $18 an ounce.
WTI February crude oil futures closed up 2 cents, or 0.03 percent, at $58.54 a barrel. Brent March crude oil futures closed up $0.23, or 0.36%, at $64.85 a barrel.