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US Market Summary: The Dow Jones Industrial Average rebounded by $336.26 for the first time in 6 days, and Apple's hiring freeze will expand further

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moomooニュース米国株 wrote a column · Mar 15, 2023 07:44
US Market Summary: The Dow Jones Industrial Average rebounded by $336.26 for the first time in 6 days, and Apple's hiring freeze will expand further
Good morning to all Moomoo users!Here are today's key points in the US stock market:
● The Dow Jones Industrial Average ended at $32155.40, which was $336.26 higher
● US CPI rose 6% from the previous year in February and growth slowed
● OPEC leaves crude oil demand forecast for 23 almost unchanged
● The outlook for rising US interest rates is revived, and the probability at FOMC next week rises to about 80%
● US financial market turmoil spurred by declining liquidity - Goldman's Rubner
● Notable stocks: $First Republic Bank (FRC.US)$ $SVB Financial (SIVB.US)$ $Microsoft (MSFT.US)$ $Apple (AAPL.US)$ $Meta Platforms (META.US)$
●Foreign exchange
-Moomoo News US Stocks

Market Overview
The Dow Jones Industrial Average on the 14th ended trading at 32155.40 dollars, which was 336.26 dollars higher. The Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, ended 239.31 points higher at 11428.15. The S&P 500 average, which consists of stocks of 500 companies that are large American stocks, ended 63.53 points higher at 3919.29.
Top news
US CPI rose 6% from the previous year in February and growth slowed
The consumer price index (CPI) for February announced by the US Department of Labor on the 14th rose 6% from the same month last year. Growth slowed from 6.4% in January and reached the lowest level since 2021/9.

OPEC leaves crude oil demand forecast for 23 almost unchanged
The Organization of Petroleum Exporting Countries (OPEC) left the global crude oil demand forecast for 2023 largely unchanged in its monthly report announced on the 14th.

US interest rate hike outlook revived, probability at FOMC next week rises to around 80%
The probability of interest rate hikes at the US Federal Open Market Committee (FOMC) meeting next week, which incorporates the swap market, has risen to about 80%. At the end of trading the day before, it was about 50%. 2-year bond yields temporarily rose close to 40 basis points (bp, 1 bp = 0.01%). It had dropped sharply by 61 bps the day before. As risks to financial stability increase in response to the bankruptcy of Silicon Valley Bank (SVB), how to prioritize responses to inflation, which is still too high, has become a difficult issue for the FOMC.

Turmoil in US financial markets spurred by declining liquidity - Goldman's Rubner
Stress in the US banking industry caused chaos on Wall Street last week. What is regarded as the factor that made the situation worse is the familiar bad guy, “low liquidity.”

Notable stocks
Apple has delayed payment of some bonuses, and the hiring freeze will expand further
$Apple (AAPL.US)$: In addition to procrastinating bonus payments to parts of the corporate sector, Apple is expanding cost reduction efforts. Multiple stakeholders familiar with the situation made it clear. Movements aimed at rationalizing operations have been seen in the US technology industry, and they will join that trend.

Bank of America's First Republic stock rose rapidly, rough price movements
$First Republic Bank (FRC.US)$: Amid rough price movements in the US stock market on the 14th, the US Bank of Japan First Republic Bank and other regional banks picked up somewhat from the biggest decline in the past 3 years. The unstable market development reflects that investors are still scrutinizing emergency measures by regulators aimed at suppressing the bank crisis.

SVB bankruptcy, US Department of Justice and SEC investigate = related sources
$SVB Financial (SIVB.US)$: I learned from the stories of those involved that the US Department of Justice and the US Securities and Exchange Commission (SEC) have begun an investigation over the bankruptcy of the US Silicon Valley Bank (SVB). SVB, which was hit by an outflow of deposits, came under the control of regulators last week.

Southwest Airlines shows countermeasures for bad winter weather
$Southwest Airlines (LUV.US)$: Southwest Airlines, a major US low-cost airline, revealed that it has identified several solutions to deal with the severe winter weather that led to a large number of flight cancellations at the end of last year. Chief Executive Officer Bob Jordan (CEO) said on the 14th that the company understood what caused the turmoil at the end of last year, and “we intend to reduce the risk that such large-scale chaos will occur again.”

Microsoft approves third agreed takeover by offering “CoD”
$Microsoft (MSFT.US)$: Microsoft in the United States also agreed with the cloud game company Boosteroid on the provision of the video game “Call of Duty (CoD).” President Brad Smith made it clear.

US movie theater AMC, shareholders approve new stock issuance
$AMC Entertainment (AMC.US)$: AMC Entertainment Holdings, a major US movie theater operator, revealed on the 14th that shareholders approved the issuance of new shares. The number of visitors continues to be sluggish, and it seems to be a relief for the company, which is struggling to recover its surplus.

Two Saudi Airlines Announce Purchase of Approximately 80 Boeing 787s
$Boeing (BA.US)$: Saudi Arabia's airline Riyadh Airlines and Saudi Arabia announced on the 14th that they will purchase a total of about 80 wide-body (double aisle) aircraft “787 Dreamliner” by US Boeing.

Credit Suisse sees “significant weaknesses” in internal control in financial reporting
$Credit Suisse (CS.US)$: Swiss financial giant Credit Suisse Group revealed in its annual report on the 14th that there were “serious weaknesses” in financial reports for the past 2 years because internal control did not function. The management team, which includes Chief Executive Officer Ulrich Kerner (CEO) and Chief Financial Officer (CFO) Digjit Joshi (CFO), who both took office in 2022, concluded in their annual report for '22 that internal control was not working.

FB meta to be further reduced by 10,000 people
$Meta Platforms (META.US)$: Meta Platforms, which has US Facebook under its umbrella, has stated that it will implement personnel cuts on a scale of 10,000 people in the next few months. Against the backdrop of a severe economic situation, we moved to the second large-scale layoff to improve efficiency.

Forex
US Market Summary: The Dow Jones Industrial Average rebounded by $336.26 for the first time in 6 days, and Apple's hiring freeze will expand further
Distribution source: Dow Jones, Bloomberg, MINKABU
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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