In the early morning of the 13th Beijing time, US stocks were mixed at midday on Thursday, while the Dow fell slightly, and the S & P indexSet a new high in the day. Us jobless claims fell to 375000 last week in line with expectations, with PPI rising faster than expected in July and the biggest year-on-year increase since 2010.
The Dow fell 68.86 points, or 0.19%, to 35416.11; the Nasdaq rose 16.84 points, or 0.11%, to 14781.98; and the Standard & Poor's 500 Index rose 2.12 points, or 0.05%, to 4449.82.
On Thursday morning, the Dow rose as high as 35510.77 and the S & P rose as high as 4450.21, both hitting new intraday highs.
On the economic side, the Labor Department announced on Thursday that initial claims for unemployment benefits in the United States fell to 375000 last week, in line with expectations. The previous value is 385000.
Separate data from the Labor Department showed that US producer prices rose more than expected in July, indicating that rising commodity costs and supply bottlenecks are still adding to corporate inflationary pressures.
U. S. stocks closed mixed Wednesday, with the Dow and the S & P 500 hitting record highs for the second day in a row. On the same day, the CPI index released by the U.S. Department of Labor became the latest driving force for the stock market.
Wednesday's report showed that US CPI rose 0.5 per cent month-on-month in July, down from June. The rise in used car and air ticket prices has slowed significantly, suggesting that inflationary pressures have eased as the economy recovers and pent-up consumer demand is released.
Mark Luschini, chief investment strategist at Janney Montgomery Scott, said: "inflation in the United States is still very high and there is still a heated debate about whether inflation will fall sharply or remain much higher than the Fed and the market expect for a long time. But at the same time, it does suggest that the inflation cycle may have peaked, which may suggest that the 'temporary theory of inflationary pressures' that the Fed has repeatedly instilled in investors is ultimately right. "
"inflation is well within the Fed's expectations," said Sebastien Galy, senior macro strategist at Nordea. Yes, wage pressure is permanent, but that's the crux of the problem. What matters is what happens when liquidity starts to contract for a while once tightening is in place, which is both frightening and an opportunity. "
Dallas Fed President Kaplan said Wednesday that the Fed should start withdrawing stimulus measures in October. And San Francisco Federal Reserve Bank President David Daley said Wednesday that given the strength of the economic rebound, the Fed may begin to scale back its ultra-loose monetary stimulus measures by the end of the year.
Mr Daley said it was appropriate to start talking about reducing the level of easing provided to the economy on a regular basis, starting with the scale of asset purchases.
Meanwhile, the $1tn infrastructure bill passed by the US Senate earlier this week has further boosted cyclical sectors such as industry and materials, as these companies will directly benefit from increased government spending on infrastructure.
In addition, the U.S. Senate approved a $3.5 trillion budget framework to implement a broader range of health care, child care, education and climate change programs critical to the Biden administration's goals.
The number of first-time US jobless claims fell for the second consecutive week in line with expectations
First-time jobless claims totaled 385000 in the week ended July 31, down 14000 from the previous week, according to data released by the Labor Department on Thursday. That figure is in line with economists' expectations, with a median forecast of 383000 in a Bloomberg survey. In the week ended July 24, the number of people claiming unemployment benefits fell to 2.93 million, the lowest since the outbreak.
The data showed a decline in first-time claims for unemployment benefits in the United States last week, confirming that the labor market is further improving.
Over the past eight months, improved business conditions and a decline in layoffs have contributed to a decline in initial jobless claims. While economists generally expect jobless claims to continue to fall in the coming months, the rapid spread of Delta mutants poses a risk to the pace of recovery.
Policy makers have begun to take measures to contain the spread of the COVID-19 epidemic and prevent the economy from being blocked again because of the epidemic.
New York City will require employees and consumers in indoor restaurants, gyms and entertainment venues to provide proof of vaccination. At the same time, the Centers for Disease Control and Prevention updated its guidelines on indoor masks to cover Kmuri 12th-grade students and vaccinated people in epidemic hotspots.
The Labor Department will release its monthly jobs report on Friday, which is expected to show that the U.S. job market added 870000 jobs in July.
Us producer prices rose 1% more than expected in July
Us producer prices rose more than expected in July, suggesting rising commodity costs and supply bottlenecks are still adding to corporate inflationary pressures.
Data released by the labour department on Thursday showed that the final demand producer price index (PPI) rose 1 per cent in July from a month earlier, 7.8 per cent from a year earlier, the largest year-on-year increase since records began in 2010, while core PPI, which excludes food and energy, rose 1 per cent month-on-month and 6.2 per cent from a year earlier. The median forecast of economists shows that the overall PPI is expected to grow by 0.6% compared with the previous month, and the core PPI is expected to grow by 0.5% from the previous month.
Producer prices have been accelerating for most of this year against a backdrop of strong demand, limited supply chains and shortages of raw materials. Rising input costs, coupled with recent wage pressures, help explain the rise in consumer price inflation.
The nearly 3/4 rise in PPI in July reflected a record 1.1 per cent rise in the services sector. PPI final demand for services is growing widely, with both wholesalers and retailers showing strong profit margins. Final demand PPI, which excludes food, energy and trade services, rose 0.9 per cent month-on-month, the biggest increase since January. Up 6.1% from the same period last year.
Focus stocks
Palantir expects annual revenue to grow by 30 per cent or more from 2021 to 2025.
ExOne confirmed that it would be sold to Desktop Metal, a 3D printing company.
Coupang fell more than 9% before trading, Q2 loss widened compared with the same period last year.
Opendoor Technologies reported a year-on-year increase in earnings per share and revenue.
Technology pharmaceutical company Medavail cut its revenue forecast for 2021.
Clover Health turned to profit in the second quarter compared with the same period last year, with revenue and net profit exceeding market expectations.
Lordstown Motors still plans to start producing electric trucks in September and will begin delivery in the first quarter of next year.
BaiduQ2 revenue rose 20% year-on-year, and net profit was negative for the second consecutive quarter.
shellRevenue in the third quarter is expected to fall by about 24.6% year-on-year to 29.4%.
IdealThe car fell nearly 2% in front of the market, and it broke on the first day of listing in Hong Kong.
NIO Inc.Cars rose 0.75% before trading, with year-on-year revenue doubling and loss per share narrowing sharply in the second quarter.
iQIYIThe results showed that its revenue in the second quarter was higher than the market forecast.
TeslaCEO Musk said, "the cars produced by Tesla, Inc. in the first half of the year are mainly for export and in the second half are for the domestic market. As publicly disclosed, we face supply chain constraints in some 'standard' automotive chips. By far, the biggest problems are Renesas and Bosch. " Earlier data showed that domestic delivery of Tesla, Inc. 's Chinese-made cars fell 69 per cent in July from the previous month.
According to people familiar with the matter, Exxon Mobil Corp, the two largest oil giants in the United States,And Chevron CorpResearch is under way on the use of existing oil refining facilities to produce renewable fuels. At present, renewable fuels account for only 5% of fuel consumption in the United States, but after the Biden administration took office, various industries across the United States are taking steps to reduce overall carbon emissions to deal with global climate change. In the future, the consumption of renewable fuels will continue to grow, and fiscal policies will impose more and more stringent restrictions on traditional fuels. For oil refineries, the necessity of producing renewable fuels has become more and more urgent.
The British Competition and Market Authority (CMA) said Facebook IncAcquiring Giphy will hurt competition between social media platforms. It warned that the deal could eliminate potential competitors in its display advertising market. CMA said it may eventually ask Facebook Inc to cancel the deal.
Alaska Airlines is considering forcing its employees to be vaccinated against COVID-19, according to media reports. The company said it would do so after the US Food and Drug Administration (FDA) fully approved the currently available vaccines. The policy change will make the airline the latest airline to force its employees to be vaccinated. United Airlines set a precedent last week.
Thursday BabaThe group announced the progress of promoting the institutionalization of anti-sexual harassment. BABA is formulating the BABA Group Code of Conduct against sexual harassment to strengthen zero tolerance for sexual harassment. ALI-WE has been set up to self-check the reflected improper work methods, including but not limited to wine tables, vulgar jokes and other ways that make employees uncomfortable in the workplace. The internal letter also stressed that "unconditional support for employees to refuse to persuade alcohol and other behaviors."
Baidu, Inc. released its unaudited financial results for the second quarter ended June 30, 2021 on Thursday. In the second quarter, Baidu, Inc. achieved revenue of 31.4 billion yuan, belonging to Baidu, Inc. 's net profit (non-American GAAP) of 5.4 billion yuan, which exceeded market expectations. Robin Li, chairman and CEO of Baidu, Inc., said, "driven by the innovative business of AI, Baidu, Inc. achieved another quarter of strong growth." AI enables businesses and local governments to do something and serve more people. We are pleased to have the opportunity to help different industries transform their business through AI and support Baidu, Inc. 's goal of achieving carbon neutrality by 2030. "
New Oriental Education & Technology Group spread on the InternetTransform and train parents. The company responded: family education is what the company has been doing, subject to the official notice. New Oriental Education & Technology Group said that there was a misunderstanding in the news. Family education is what the company has been doing, the family education and guidance center was set up in 2008, and each branch school also has a tutoring center department, subject to the official notice.
KE Holdings Inc. made a net profit of 1.115 billion yuan in the second quarter, down 60 percent from 2.838 billion yuan in the same period last year.