US Market Outlook: The Dow Average rose by $89.24, and the Nasdaq Composite Index also started 122.25 points higher
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This is the reading for tonight's NY stock.
Market OverviewThe US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, rose 89.24 dollars to 32906.16 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, began 122.25 points higher at 11517.19. The S&P 500 average, which consists of stocks of 500 companies, which are large US stocks, is 22.32 points higher to 3992.36.
$Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$ $S&P 500 Index (.SPX.US)$Top newsStrong recovery expectations for the US bond market this year are premature - even if it falls againIt is too early to give up expectations for a strong recovery in the US bond market in 2023. However, even if investing in US bonds again becomes a winning trade, continuing it would not be suitable for the faint of heart. In response to the expansion of employment, an increase in consumer spending, and inflation exceeding expectations, observations that the US Federal Reserve interest rate hike would be longer than expected intensified, and the bond exchange rate fell again, and the January increase was blown away. The US financial authorities have almost finished tightening, and it was rising last month from observations that interest rates would be cut by the end of the year.
Increased bond yields, an opportunity to “revise” the bond portion of the 60-40 portfolioInvestors have invested more than 20 billion dollars (about 2.7 trillion yen) in exchange-traded funds (ETFs) that invest in US bonds so far this year. Most of the funds were concentrated in ETFs that invest in safe and simple US bonds, probably due to the effects of 2022, which was the worst in history for bonds. BlackRock's US bond ETF manager Steven Lapilly explained this phenomenon on the podcast.
Will OPEC switch to increase production in June = GoldmanGoldman Sachs expects the Organization of Petroleum Exporting Countries (OPEC) to increase production in June against the backdrop of increased oil demand in China. In addition to the increase in demand, Goldman explained that there is a possibility that OPEC will withdraw the 2 million barrels per day cut decided at the October meeting last year because production capacity is scarce in oil-producing countries that are not members of OPEC. As for the crude oil exchange rate, even if OPEC turns to an increase in production by 1 million barrels per day, it is predicted that it will rise to 1 barrel = 100 dollars at the end of the year, and it will remain at the same level in 2024.
Distributor: Bloomberg, Dow Jones
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