Securities, April 8th, the three major U.S. stock indexes closed on Wednesday diverging. The recorded two consecutive negatives. The and S&P closed slightly higher. However, strong non-agricultural economic data and falling U.S. Treasury yields suppressed market declines. . At the same time, the Fed released the minutes of its March meeting, and officials believed that there would be “some time” before substantive progress was made. The panic index VIX fell 5.3% to 17.16 points.
As of the close, the Dow rose 16.02 points to 33,446.26 points, an increase of 0.05%; the Nasdaq fell 9.54 points to 13,688.84 points, a decrease of 0.07%; the index rose 6.01 points to 4,079.95 points, an increase of 0.15%. Among tech shares, well-known technology shares in rose 1.34%; Facebook rose 2.23%; rose 1.72%; rose 0.82%; rose 1.12%; rose 0.45%.
shares fell 2.99% in response to “Shanghai Pudong does not grant Tesla a license”: the news is untrue. share price fell 12.93%, and it plans to issue US$750 million in convertible senior bonds. share price fell 3.41%, announcing the official start of an IPO and plans to sell 31 million shares, priced at HK$333 per share. China’s stock price rose 110.69%. The stock was listed on the first day of Tuesday. At one time, it surged 1050% from its IPO issue price and finally closed up 875%. European stocks generally fell. The Stoxx 600 Index fell 0.22%, following the trend of US stocks. As of the close, the fell 0.1%, the Nikkei 225 index rose 0.12%, and the South Korean KOSPI index rose 0.33%.
US WIT futures prices rose 0.7% to close at 59.77 US dollars per barrel; international Brent oil prices rose 0.7% to close at 63.16 US dollars per barrel, as US crude oil inventories fell by 3.5 million barrels last week, a drop far exceeding expectations.
Gold futures prices fell 0.1% to close at $1,741.60 per ounce. Some analysts said that without a clear signal that the US blockade measures are coming to an end, it is believed that people will not be interested in precious metals; but if the economy shows signs of recovery, people will start to increase spending, thereby boosting the physical gold demand.
U.S. Treasury yields fluctuate and fall, market expectations of the Fed’s early interest rate hike continue to cool
Although many U.S. economic data are better than expected, the benchmark U.S. Treasury bond yield seems to have encountered resistance at the key technical level, which is the midpoint of its decline from 2018 to 2020.
U.S. Treasury bonds rose for the third consecutive day on Wednesday, and medium-term Treasury bonds again led the rise, as expectations for an early interest rate hike by the Federal Reserve continued to cool. As of press time, the 10-year U.S. Treasury yield fell 1.8 basis points to 1.638%. After the announcement of the minutes, the 10-year U.S. Treasury yield rebounded to 1.689%.
The market predicts that the chances of the Fed starting to raise interest rates before 2023 have fallen. Interest rate swaps show expectations for a rate hike of about 20 basis points in December 2022, and Monday’s forecast for 28 basis points. The trading volume of contracts expiring in December 2022 and March 2023 are both above the recent average, and carry trades are popular. The Federal Reserve released the minutes of its March monetary policy meeting on Wednesday. The minutes pointed out that the new crown pneumonia pandemic and measures taken to contain the spread of the epidemic continue to affect the economic activities of the United States and other countries Spark Global Limited.
The minutes stated that the information available during the meeting from March 16 to 17 indicated that the US GDP in the first quarter of 2021 expanded faster than in the fourth quarter of last year, although the actual GDP level may not have returned to the level before the outbreak. . Labor market conditions improved in January and February, but the number of employed people is still far below the level of early 2020. Consumer price inflation as of January—measured as a percentage change in the personal consumption expenditure price index (PCE)—has remained well below 2%.