What's the matter with the Dow falling for five days in a row
4hw.com.cn: the market is digesting the impact of soaring debt interest rates, and US stock market sentiment is cautious. The Dow closed at 24448, down 14 points or 0.06%, down for four consecutive days; the S & P 500 closed at 2670, up no more than 1 point; the NASDAQ closed at 7128, down 17 points or 0.25%.
U.S. stocks rose and fell narrowly on Monday, while Hong Kong's ADR index was stable, closing at 30363 points, up 108 points or 0.36% on a pro rata basis. Large blue chips all strengthened, with HSBC Holdings closing at 78.35 yuan, up 1.35 yuan from Hong Kong's close, and Tencent holdings closing at 394.98 yuan, up 0.98 yuan from Hong Kong's close. Oil stocks were stable, with PetroChina closing at 5.88 yuan, up 0.06 yuan from Hong Kong; CNOOC closing at 13.03 yuan, up 0.23 yuan from Hong Kong. Rise also sanctions fall also sanctions aluminum shares plummet
U.S. metal manufacturing stocks fell sharply, with U.S. steel down 0.33%, AK steel down 1.47%, steel dynamics down 2.04%, Nucor down 1.05%, Alcoa down 13.51%, century aluminum down 5.27%, Kaiser aluminum down 3.31%.
Us energy stocks were mixed, with chevron up 1.04%, ConocoPhillips down 0.47%, EOG energy up 0.76%, Schlumberger down 0.46% and ExxonMobil up 0.72%.
US technology stocks mostly fell. Apple closed 0.29% lower, Google a shares 0.33%, Amazon 0.63%, Facebook 0.26%, Microsoft 0.37%, Netflix 2.77%, Tesla 2.37%, NVIDIA 2.11%, amd 0.5%, Intel 0.83%, Qualcomm 1.77%.
US financial stocks mostly fell. Goldman Sachs fell 2.1%, Citigroup 0.74%, Morgan Stanley 1.51%, JPMorgan Chase 0.48%, Bank of America 0.2%, American Express 0.18%, Wells Fargo 0.1% and Berkshire Hathaway A shares of Warren Buffett 0.44%.
10-year US bond yield approaching 3%, US stocks under pressure
The yield of us 10-year Treasury bonds has soared to 2.99%, challenging the psychological threshold of 3%. The last breakthrough of 3% was in January 2014. Rising inflation expectations and the continuous pace of interest rate hikes in the United States have prompted more investors to sell US Treasuries, leading to higher interest rates.
Ed Yardeni, President and chief investment officer of Yardeni research, said it could compete with stocks as higher short-term interest rates enhance bond attractiveness. However, as long as the Fed has the ability to continue to raise interest rates, indicating that the economy is still in an expansion cycle, it can drive the stock market bull market down,
The market also focuses on the latest quarterly results of enterprises. According to FactSet, as many as 82% of the companies that have reported quarterly results have outperformed market expectations.
Mark Esposito, chief executive of Esposito securities, said that although the company's profits are good, it is not necessarily that the company has a good performance in the stock market. He said frankly that the company's performance has maintained strong growth since last year, and there is uncertainty about whether it can continue in the future.