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-- 214.810 Early Report: Caution due to deposit outflows, 20% drop in US regional bank Packwest Corporation stock, Tokyo stock market likely to see a mixed performance of advancement and retreat.
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Today's key points for the morning report are as follows:
● [Tokyo Stock Market Price Range Forecast] ¥890,000 - ¥920,000
● US regional bank Packwest Corporation stock drops 20% due to 10% outflow of deposits, caution advised.
● Twitter chooses new CEO = Musk
● US debt ceiling issue, discussions between President Biden and Congressional leaders postponed to next week
YouTube and NFL aiming to attract advertisers, targeting companies looking to move away from television.
Market Overview
On the 11th, in the U.S. stock market, the NY Dow Jones Industrial Average fell by 221.82 cents, 0.03% to 33,309.51, for the 4th consecutive decline. The Nasdaq Composite Stock Price Index was 22.065 points higher at 12,328.507. On the 12th, the Tokyo stock market is expected to see a fluctuation between buying and selling, with the Nikkei Stock Average weakening around 29,000 yen, showing a mixed movement of advance and retreat.
Top news of individual stocks
Is the U.S. inflation deceleration pace insufficient for early rate cuts?
Louis Navellier from Navellier & Associates mentioned in a report that the inflation rate measured by the Consumer Price Index (CPI) is likely to decelerate to an annual pace of 3% by July after the June 2023 CPI is announced. This is taking into account the base effect compared to the previous year. He pointed out, 'A 3% inflation rate is not low enough for the Federal Reserve (FRB) to cut interest rates, but probably by November, the annual increase rate in CPI will approach FRB's inflation target of 2%, and by December, FRB may be confident in cutting rates.'
Twitter hires new CEO, Musk
Elon Musk, CEO of Twitter, announced on the 11th that a new CEO to succeed him has been hired. The name has not been revealed. Musk said, 'She will start her duties in 6 weeks!' Since acquiring the company last October, Musk has transitioned to Executive Chairman and Chief Technology Officer (CTO), focusing on supervisory duties related to products and software.
The US debt ceiling issue, Biden and congressional leaders' discussions have been postponed to next week, according to sources familiar with the matter.
President Joe Biden and congressional leaders, who were scheduled to discuss the roadmap for raising the US government debt ceiling on the 12th, have postponed the discussions to early next week. This was revealed by multiple sources familiar with the situation, citing the need to increase negotiation time for both staff.
YouTube aims to attract advertisers in the NFL as it targets companies moving away from television.
USA $Alphabet-C (GOOG.US)$YouTube, the video posting site, will hold a presentation at next week's upfront event (pre-sale event for advertising slots for annual contracts), leveraging the exclusive rights to the NFL's "NFL Sunday Ticket" to attract major companies that are regular television advertisers.
Minneapolis Fed President Keashkari is monitoring the interaction between inflation and interest rates.
Neel Kashkari, President of the Federal Reserve Bank of Minneapolis District on the 11th, stated that he is monitoring the interaction between inflation and interest rate policy, and how it may affect the banking system.
Shares of US regional bank PacWest fell 20%, with a warning due to a 10% outflow of deposits.
The market is once again strengthening concerns about the outflow of deposits from US regional banks. The regional bank in California, $PacWest Bancorp (PACW.US)$revealed on the 11th that the deposit balance as of the 5th day decreased by 10% compared to the previous week, causing the company's stock price to plummet by 23% on the 11th compared to the previous day.
Tokyo Stock Market Outlook
Stock market outlook for the 12th = Will there be a back-and-forth development, with caution about the falling prices of US regional bank stocks, etc.
Key Market Events
Major market events on the 12th
foreign exchange
● [Tokyo Stock Market Price Range Forecast] ¥890,000 - ¥920,000
● US regional bank Packwest Corporation stock drops 20% due to 10% outflow of deposits, caution advised.
● Twitter chooses new CEO = Musk
● US debt ceiling issue, discussions between President Biden and Congressional leaders postponed to next week
YouTube and NFL aiming to attract advertisers, targeting companies looking to move away from television.
Market Overview
On the 11th, in the U.S. stock market, the NY Dow Jones Industrial Average fell by 221.82 cents, 0.03% to 33,309.51, for the 4th consecutive decline. The Nasdaq Composite Stock Price Index was 22.065 points higher at 12,328.507. On the 12th, the Tokyo stock market is expected to see a fluctuation between buying and selling, with the Nikkei Stock Average weakening around 29,000 yen, showing a mixed movement of advance and retreat.
Top news of individual stocks
Is the U.S. inflation deceleration pace insufficient for early rate cuts?
Louis Navellier from Navellier & Associates mentioned in a report that the inflation rate measured by the Consumer Price Index (CPI) is likely to decelerate to an annual pace of 3% by July after the June 2023 CPI is announced. This is taking into account the base effect compared to the previous year. He pointed out, 'A 3% inflation rate is not low enough for the Federal Reserve (FRB) to cut interest rates, but probably by November, the annual increase rate in CPI will approach FRB's inflation target of 2%, and by December, FRB may be confident in cutting rates.'
Twitter hires new CEO, Musk
Elon Musk, CEO of Twitter, announced on the 11th that a new CEO to succeed him has been hired. The name has not been revealed. Musk said, 'She will start her duties in 6 weeks!' Since acquiring the company last October, Musk has transitioned to Executive Chairman and Chief Technology Officer (CTO), focusing on supervisory duties related to products and software.
The US debt ceiling issue, Biden and congressional leaders' discussions have been postponed to next week, according to sources familiar with the matter.
President Joe Biden and congressional leaders, who were scheduled to discuss the roadmap for raising the US government debt ceiling on the 12th, have postponed the discussions to early next week. This was revealed by multiple sources familiar with the situation, citing the need to increase negotiation time for both staff.
YouTube aims to attract advertisers in the NFL as it targets companies moving away from television.
USA $Alphabet-C (GOOG.US)$YouTube, the video posting site, will hold a presentation at next week's upfront event (pre-sale event for advertising slots for annual contracts), leveraging the exclusive rights to the NFL's "NFL Sunday Ticket" to attract major companies that are regular television advertisers.
Minneapolis Fed President Keashkari is monitoring the interaction between inflation and interest rates.
Neel Kashkari, President of the Federal Reserve Bank of Minneapolis District on the 11th, stated that he is monitoring the interaction between inflation and interest rate policy, and how it may affect the banking system.
Shares of US regional bank PacWest fell 20%, with a warning due to a 10% outflow of deposits.
The market is once again strengthening concerns about the outflow of deposits from US regional banks. The regional bank in California, $PacWest Bancorp (PACW.US)$revealed on the 11th that the deposit balance as of the 5th day decreased by 10% compared to the previous week, causing the company's stock price to plummet by 23% on the 11th compared to the previous day.
Tokyo Stock Market Outlook
Stock market outlook for the 12th = Will there be a back-and-forth development, with caution about the falling prices of US regional bank stocks, etc.
Key Market Events
Major market events on the 12th
foreign exchange
Source: Dow Jones, MINKABU, Wealth Advisor, Nikkei Newspaper
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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