In the early morning of the 30th Beijing time, US stocks maintained a rising trend late Thursday, with both the Dow and the S & P 500 hitting new intraday highs. Corporate earnings are mixed. The number of people applying for relief in the United States last week was close to the lowest level during the epidemic season, and GDP growth in the second quarter was lower than expected. Markets are still weighing the Fed's monetary policy prospects.
The Dow rose 177.70 points, or 0.51%, to 35108.63; the Nasdaq rose 30.78 points, or 0.21%, to 14793.36; and the S & P 500 rose 22.29 points, or 0.51%, to 4422.93.
On Thursday afternoon, the Dow rose as high as 35171.52 and the S & P rose as high as 4429.97, setting new intraday highs.
In economic data on Thursday, the Labor Department reported that the number of first-time claims for unemployment benefits in the United States last week was 400000, compared with an estimated 385000, compared with a previous figure of 419000.
The US Commerce Department reported that US GDP (gross domestic product) grew by 6.5 per cent in the second quarter, lower than the 8.4 per cent previously expected by experts.
Investors are still evaluating the second-quarter results of U. S. stocks. Facebook(FB) Wednesday reported better-than-expected revenue and earnings per share in the second quarter, but the number of monthly active users fell short of expectations and warned of a slowdown in sales in the second half of the year. The company also hinted that AppleAn app tracking update for iOS will have a negative impact on its core advertising business.
PayPal (PYPL) second-quarter revenue and full-year revenue expectations are lower than market expectations. Net revenue rose 19 per cent year-on-year to $6.238 billion, while net profit fell 23 per cent year-on-year to $1.184 billion.
Markets continue to digest the monetary policy statement released by the Federal Reserve on Wednesday. The statement shows that the Fed is close to announcing and starting to withdraw from its crisis-era policies, but that has not yet been fully achieved. The Fed says it is committed to using its full range of tools to support the U.S. economy and maximize job creation and price stability in this challenging time.
The Fed also said the rise in inflation largely reflected the impact of temporary factors. The US economy has made progress towards the goal of curtailing quantitative easing.
Specifically, the FOMC's latest statement said: "the economy has moved towards the central bank's goal of" substantial further progress in economic recovery, but the committee will continue to assess progress at future meetings ".
"We have made progress, but it is not 'substantial further progress'," said Paul Ashworth, chief US economist at Capital Macro. It is difficult to determine whether the Fed's position is hawkish, because what is maddening is that 'substantial further progress' cannot be quantified and seems to be slightly different for every FOMC member. "
He added: "overall, we are closer to determining when to start scaling back stimulus measures." But there are many other big questions, such as how fast the stimulus will be reduced and what will happen to the Fed's balance sheet after the stimulus is reduced. "
Given that the Fed's quantitative easing has been a central factor supporting asset prices over the past year, the discussion about when the Fed announced and began to scale back its asset purchases during the epidemic has become a top concern for market participants.
The Fed continues its plan to buy $120 billion a month of Treasuries and institutional mortgage-backed securities (MBS). But Federal Reserve Chairman Colin Powell said at a news conference on Wednesday that bond purchases could be scaled back "in the next meeting."
Ian Shepherdson, chief economist of the Pantheon Macroeconomics, wrote in a report that the Fed "further postponed the problem of curtailing bond purchases, noting that the economy has made 'progress' towards its goal, but has not yet reached the 'further progress' needed to trigger the contraction. Chairman Powell pointed out that the spread of the Delta mutant has caused greater uncertainty, but policy makers are still advancing their discussions about scaling back bond purchases. "
The number of people applying for unemployment benefits for the first time in the United States last week was 400000, estimated at 385000.
The number of people applying for unemployment benefits for the first time in the United States last week was 400000, compared with an estimated 385000, compared with a previous figure of 419000, the Labor Department reported on Thursday. Claims for unemployment benefits fell in US states last week, near a low during the COVID-19 epidemic, suggesting that the labour market continues to improve, despite the delta virus raging amid continued hesitation in vaccine progress.
Against the backdrop of rising demand for labour, weekly jobless claims have fallen sharply since the beginning of the year.
At the same time, novel coronavirus, who has led to a recent surge in new infections across the United States, also poses risks. With new restrictions looming and large areas of the country still unvaccinated, the Centers for Disease Control and Prevention recently updated guidelines for indoor masks.
The US economy contracted at a record average annualised rate of 19.2 per cent from the peak in the fourth quarter of 2019 to the second quarter of 2020, confirming that the recession was the worst in history, according to government data released on Thursday. While economic growth is likely to peak in the second quarter, economists expect GDP to grow by about 7 per cent this year, the strongest performance since 1984.
Us economic growth barely accelerated in the second quarter, weaker than expected as government spending, housing investment and inventories dragged down growth. However, a surge in vaccine-driven consumer spending has pushed total output to a record high because of vaccinations, federal bailouts and the broader reopening of the economy, leaving Americans with the necessary money. there is also an opportunity to increase spending on services such as eating out. Extra cash and strong hiring have also helped maintain spending on goods.
Us GDP growth of 6.5% in the second quarter of this year fell short of the expected target.
Us second-quarter GDP data also confirmed that the US economy is recovering. According to data released by the US Department of Commerce, US GDP grew 6.5 per cent in the second quarter from a year earlier, below expectations of 8.5 per cent and 6.4 per cent. Although lower than expected, the US Commerce Department says the US economy is accelerating strongly, indicating that the United States has been freed from the shackles of the COVID-19 epidemic.
According to reports, the US gross domestic product (GDP) has become an indicator of US economic recovery after the COVID-19 outbreak. The US economy fell sharply by 31.4 per cent in the second quarter of 2020, but rebounded by 33.4 per cent in the following quarter.
The analysis pointed out that at present, the US economy is still in the stage of recovery, especially the labor market is trying to return to normal. On the same day, the number of people applying for unemployment benefits for the first time in the United States in the week to July 24 was 400000, double the number before the outbreak of COVID-19, according to the Labor Department.
U. S. economic growth barely accelerated in the second quarter, weaker than expected, as government spending, housing investment and inventories dragged down economic growth, analysts said. However, a surge in vaccine-driven consumer spending has pushed total output to a record high because of vaccinations, federal bailouts and the broader reopening of the economy, leaving Americans with the necessary money. there is also an opportunity to increase spending on services such as eating out. Extra cash and strong hiring have also helped maintain spending on goods.
Spurred by vaccination, federal financial relief and a broader economic reopening, Americans have both the ability and the opportunity to spend more on services such as eating out. Extra cash and strong hiring have also helped maintain spending on goods.
Looking ahead, economic growth will face the challenges of weakening government support and lingering supply and labour constraints. At the same time, the rapidly spreading Delta mutant also poses a risk to spending prospects.
The number of daily active users of Facebook in the second quarter fell short of market expectations.
QualcommQ3 net profit in fiscal year 2021 increased by 140% compared with the same period last year.
Paypal's second-quarter revenue and full-year revenue expectations fell short of market expectations.
Ford MotorSecond-quarter results exceeded market expectations and sharply raised full-year financial forecasts.
ComcastSecond-quarter revenue and earnings per share are better than market expectations.
MerckSecond-quarter earnings per share were $0.48, compared with $0.92 in the same period last year.
Yum ChinaRevenue in the second quarter was slightly lower than market expectations, and same-store sales growth was significantly lower than market expectations.
Uber is getting attention. Softbank Corp.It is proposed to sell part of its stake in Uber.
NokiaSecond-quarter net profit surpassed market expectations and raised its full-year revenue forecast.
Royal Dutch Shell earned better than expected in the second quarter and increased its dividend payout ratio.
Credit SuisseRevenue fell 18% in the second quarter from a year earlier, losing $653 million due to the explosion.
Valero energySecond-quarter earnings per share are $0.39, compared with market expectations of $0.16, compared with $3.07 in the same period last year.