US stocks rebound Tesla and other high-tech financial results start this week | 18th Financial Tankan

1 year ago 77

4/18 (Tue) morning market trends (compared to the previous day)

traditional finance

NY Dow: $33,987 +0.3%
Nasdaq: $12,157 +0.2%
Nikkei Stock Average: ¥28,514 +0.07%
USD/JPY: 134.4 +0.4%
USD Index: 102 +0.5%
10-year US Treasury yield: 3.6 +2.3% annual yield
Gold Futures: $2,007 -0.4%

crypto assets

Bitcoin: $29,458 -2.9%
Ethereum: $2,075 -2.2%

Today’s NY Dow rebounded and closed at +100 dollars. The Nasdaq, which had fallen, also rose slightly to +34 dollars. Last Friday, March US retail sales fell for the second month in a row, raising concerns about an economic slowdown.

On the other hand, the New York State manufacturing index released by the New York Fed last night was +10.8 in April, well above the median forecast of -18, showing an unexpected expansion in activity. It’s been 5 months since it turned positive. Expectations of a rate cut this year have receded on the back of the data. (The zero index is the boundary between expansion and contraction of activity.)

At this point, expectations for a 0.25% interest rate hike at the FOMC in May have risen to 86.6%, and expectations for a 5-5.25% rate hike at the FOMC in June are also increasing.

Economic data from this week onwards

April 20, 21:30 (Thursday): Number of new unemployment claims for the previous week in the US
April 21, 22:45 (Friday): US April Composite Purchasing Managers Index (PMI, preliminary figures)
April 27, 21:30 (Thursday): U.S. January-March Quarterly Real Gross Domestic Product (GDP, preliminary figures), Core PCE
April 28, 21:30 (Friday): U.S. March Personal Consumption Expenditure/PCE deflator
May 1, 23:00 (Monday): US April ISM Manufacturing Index
May 4, 3:00 (Thursday): US Federal Open Market Committee (FOMC) policy interest rate announcement

U.S. bank stock settlement, etc.

Starting with JP Morgan’s financial results last weekend, the market showed a positive reaction to the confirmation of deposit inflows from regional banks, and bank stocks were bought. JP Morgan, Citi, and Wells Fargo have also increased their net interest income following the FOMC rate hikes over the past year. JP Morgan +0.7%, Citi +0.2%, Wells Fargo +4.1% (compared to the previous day).

Bank of America, Goldman Sachs and Morgan Stanley all have announcements this week. Earnings reports for tech companies such as Tesla and IBM also begin this week.

In addition, compared to the previous day for individual stocks of US IT/tech stocks: NVIDIA +0.9%, c3.ai +4%, Tesla +1.1%, Microsoft +0.9%, Alphabet -2.6%, Amazon +0.2%, Apple +0.01% , Meta-1.1%, Coinbase-3.1%, Microstrategy-6.2%.

Microsoft Bing

Microsoft stock rose, while Alphabet fell 4% at one point. Last night, it was reported that South Korea’s Samsung Electronics is considering adopting Microsoft’s “Bing” instead of Google as the default search engine on its handsets.

Microsoft’s Bing, which until now had less than 3% of the search market share, has increased its presence since introducing ChatGPT to Bing in February, and its traffic has surged by more than 15%.

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