In the early morning of the 17th Beijing time, US stocks closed down on Wednesday. The Federal Reserve kept interest rates unchanged, raised inflation expectations for this year and next two years, and hinted that it would raise interest rates twice before 2023. Federal Reserve Chairman Powell acknowledged that inflation may be higher and more enduring than expected.
The Dow fell 265.66 points, or 0.77%, to 34033.67 points; the NASDAQ fell 33.17 points, or 0.24%, to 14039.68 points; and the S&P 500 fell 22.89 points, or 0.54%, to 4223.70 points.
At 2 p.m. EST on Wednesday, the Federal Reserve announced that it would keep the benchmark interest rate unchanged at 0%-0.25%, in line with market expectations. The Federal Reserve bitmap shows that by the end of 2023, the Federal Reserve will raise interest rates twice. The Federal Reserve also kept the pace of debt purchases of 120 billion US dollars per month unchanged. At the press conference that followed, Federal Reserve Chairman Powell said that inflation may be higher and more enduring than expected.
The 11 major constituent sectors of the S&P 500 index all closed down. Sectors such as technology, raw materials, and essential consumer goods led the decline.
GoogleAlphabet, the parent company ofFacebookandMicrosoftLarge technology stocks and the like generally closed down.
E-commerce giants topping US stock turnover on WednesdayAmazonsIt closed 1% higher, with a transaction of US$13.9 billion. Brokerage firm Jefferies published a research report saying that Amazon's e-commerce advantage continues to be strong and is included in the franchise selection list. Jeffrey said Amazon's current valuation is 10% lower than the historical average.
2nd place in terms of turnoverTeslaThe company closed 0.9% higher with transactions of US$13.13 billion. Although Tesla's stock price was sluggish this year and its performance lags behind the market, many analysts are still optimistic about the stock. Analyst Mizuho has repeatedly emphasized Tesla's “buy” rating, indicating that Tesla's market share will reach 10% in the future. Meanwhile, the managing director of Rockefeller Capital Management called for “cutting the bottom,” saying that Tesla will be a leader in the electric vehicle industry in the foreseeable future.
3rd place in turnoverapplesThe company closed 0.4% higher with transactions of US$11.87 billion. Apple CEO Tim Cook on Wednesday targeted the EU's proposed regulations aimed at limiting the power of US tech giants, saying these regulations may pose security and privacy risks to the iPhone.
Cook said that some parts of the “Digital Markets Act” (DMA) proposed by the European Union are good, but others are bad. Cook said he is worried that the proposed new regulations will cause more apps not to be installed through Apple's App Store app store, also known as “side loading” (side loading).
The fourth largest trading volume was AMC Academy Line, a retail group stock. The stock closed down 6.5% and traded 8.97 billion US dollars. AMC Cinema Line's stock price soared this year, but some analysts warned that the company's fundamentals had seriously deteriorated and that the stock price was not supported by performance, and investors were advised to stay away from the stock.
Facebook ranked 6th in terms of turnover. The stock closed down 1.7% to reach 5.66 billion US dollars. The company's CEO Zuckerberg said in a post on Wednesday that the 30th version of the first VR all-in-one Quest will be released soon, and the Air Link function is coming soon.
The metaverse gaming platform Roblox Corporation ranked 10th in turnover today. The stock closed down 8% to reach a turnover of US$3.65 billion. The company reported a decline in both its active users and their spending on gaming platforms in May. The company said the number of daily active users (DAU) in May was 43 million, down 1% from the 43.3 million reported in April. However, DAU is up 28% from May 2020. Roblox said the average number of bookings per DAU is estimated to be between $5.02 and $5.09, which would be as much as 3% lower than a year ago.
Orphazyme, the 15th largest biotech company in terms of turnover, closed up 61.3%, triggered a meltdown several times during the intraday period, and eventually traded 3 billion US dollars, more than 5 times its market value. Market rumours suggest that the company may have received an offer to buy it.
OracleThe company ranked 16th in today's turnover. The stock closed down 5.6% to reach $2.81 billion. At the same time as announcing its financial report yesterday, Oracle announced that it plans to double the capital expenditure of the cloud business in FY2022 to reach nearly 4 billion US dollars. Due to increased investment in cloud computing, the company predicted earnings of 94 cents to 98 cents per share for the first quarter, lower than the forecast of $1.03.
Only China Securities has been shortlisted in the top 20 in terms of today's turnoverBabaThe company, the stock closed down 0.4% and traded at $2.28 billion.
The following are the 20 most actively traded US stocks on the same day (by turnover):
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