In the morning report, a senior official of the Federal Reserve mentioned the possibility of not cutting interest rates, while Governor Ueda mentioned the consideration of additional rate hikes. Expectations for cash return from Amazon's expanding cash reserves.
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Here are the key points of the morning news.
● [Tokyo stock market forecast range] 900,000-950,000 yen (closing price on the 4th: 977,314 yen)
● [Remarks by senior FRB officials] There is also a possibility of not implementing interest rate cuts this year - President Kashkari
● New York stocks experience the biggest decline of the year, with the prospect of interest rate cuts receding and risk aversion spreading
● If the certainty of achieving the 2% target increases, BOJ President Ueda will consider raising interest rates
● Brent crude oil in the North Sea rose to the 90 dollar range, the highest level since October last year, due to geopolitical risks
● Growing cash flow at Amazon, with expectations for shareholder returns - stock price approaches record high
Tesla rises, production of right-hand drive cars for export to India begins at the German factory.
- moomoo News Mark
● [Tokyo stock market forecast range] 900,000-950,000 yen (closing price on the 4th: 977,314 yen)
● [Remarks by senior FRB officials] There is also a possibility of not implementing interest rate cuts this year - President Kashkari
● New York stocks experience the biggest decline of the year, with the prospect of interest rate cuts receding and risk aversion spreading
● If the certainty of achieving the 2% target increases, BOJ President Ueda will consider raising interest rates
● Brent crude oil in the North Sea rose to the 90 dollar range, the highest level since October last year, due to geopolitical risks
● Growing cash flow at Amazon, with expectations for shareholder returns - stock price approaches record high
Tesla rises, production of right-hand drive cars for export to India begins at the German factory.
- moomoo News Mark
Market Overview
In the U.S. stock market on the 4th, the Dow Jones Industrial Average fell by $530.16, a 0.03% decrease from the previous trading day, closing at $9,8596.98. The Nasdaq Composite Index fell by 228.376 points, or 0.01%, closing at 9,6049.082. On the 5th, the Tokyo stock market is expected to see a significant decline, with large-cap stocks selling off. The Nikkei Stock Average is likely to drop sharply, lowering the level to the lower 9,000 yen range and possibly even breaking the 9,000 yen mark.
In the U.S. stock market on the 4th, the Dow Jones Industrial Average fell by $530.16, a 0.03% decrease from the previous trading day, closing at $9,8596.98. The Nasdaq Composite Index fell by 228.376 points, or 0.01%, closing at 9,6049.082. On the 5th, the Tokyo stock market is expected to see a significant decline, with large-cap stocks selling off. The Nikkei Stock Average is likely to drop sharply, lowering the level to the lower 9,000 yen range and possibly even breaking the 9,000 yen mark.
Top News
[FRB Official Statement] There is a possibility that there will be no interest rate cuts this year, according to President Kashkari.
Neel Kashkari, President of the Minneapolis Fed, pointed out that if the slowdown in inflation persists, there may be no need for interest rate cuts by the end of the year. This is especially true if the economy remains strong.
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It is "wise" to take time for a rate cut = Federal Reserve Bank of Richmond President
[FRB Official Statement] There is a possibility that there will be no interest rate cuts this year, according to President Kashkari.
Neel Kashkari, President of the Minneapolis Fed, pointed out that if the slowdown in inflation persists, there may be no need for interest rate cuts by the end of the year. This is especially true if the economy remains strong.
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It is "wise" to take time for a rate cut = Federal Reserve Bank of Richmond President
Biggest drop in NY stocks this year, further rate cut less likely, risk aversion spreads
On the 4th, the Dow Jones Industrial Average fell for the 4th consecutive day in the US stock market, closing 530 points (1.4%) lower than the previous day. The decline was the largest of the year. There was increasing caution about the postponement of the timing of the rate cut due to statements by senior officials of the Federal Reserve Board (FRB) and the rise in crude oil. There was a spread of risk aversion, with selling of stocks and buying of US bonds and gold.
On the 4th, the Dow Jones Industrial Average fell for the 4th consecutive day in the US stock market, closing 530 points (1.4%) lower than the previous day. The decline was the largest of the year. There was increasing caution about the postponement of the timing of the rate cut due to statements by senior officials of the Federal Reserve Board (FRB) and the rise in crude oil. There was a spread of risk aversion, with selling of stocks and buying of US bonds and gold.
[Preview] The March US employment statistics are scheduled to be released tonight. Is the risk of rekindled inflation limited?
The number of non-farm payroll employees in the US in March is scheduled to be announced at 9:30 pm on Friday, March 5th (Japan time). The market is expecting an increase of 0.198 million employees and an unemployment rate of 3.8% for non-farm payrolls in March.
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Last week's initial jobless claims in the US exceeded expectations at 0.221 million.
The number of non-farm payroll employees in the US in March is scheduled to be announced at 9:30 pm on Friday, March 5th (Japan time). The market is expecting an increase of 0.198 million employees and an unemployment rate of 3.8% for non-farm payrolls in March.
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Last week's initial jobless claims in the US exceeded expectations at 0.221 million.
"If it affects prices, then foreign exchange is also a material for rate hikes" - Governor Ueda's solo interview(Asahi Shimbun)
Haruhiko Kuroda, the Governor of the Bank of Japan, celebrates his one-year anniversary in office on the 9th of this month. Before that day, he accomplished the transition from the 11-year-long "unconventional easing" to a "normal" monetary policy. When will the next focus be with regards to additional interest rate hikes? How will he evaluate the merits and demerits of years of easing? What should be the ideal form of communication with the market? We ask Mr. Kuroda.
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Governor Kuroda: Consideration of interest rate hikes further increases the certainty towards achieving the 2% target.
Haruhiko Kuroda, the Governor of the Bank of Japan, celebrates his one-year anniversary in office on the 9th of this month. Before that day, he accomplished the transition from the 11-year-long "unconventional easing" to a "normal" monetary policy. When will the next focus be with regards to additional interest rate hikes? How will he evaluate the merits and demerits of years of easing? What should be the ideal form of communication with the market? We ask Mr. Kuroda.
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Governor Kuroda: Consideration of interest rate hikes further increases the certainty towards achieving the 2% target.
Brent crude oil rises to the $90 level, the highest since October last year, due to geopolitical risks.
Brent crude oil temporarily rose 1% on the 4th, reaching the $90 level per barrel for the first time since October last year. The background to this is strong demand and increasing geopolitical risks.
Brent crude oil temporarily rose 1% on the 4th, reaching the $90 level per barrel for the first time since October last year. The background to this is strong demand and increasing geopolitical risks.
Alphabet declines as Google considers monetizing its AI search functionality.
$Alphabet-C (GOOG.US)$declines. Google, a subsidiary of Alphabet, is considering monetizing a premium feature of its new generated AI as part of its effort to revamp its search business, according to reports after the closing bell the previous day. This marks the first time for them to start charging for major services.
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Alphabet is considering acquiring HubSpot, according to reports.
$Alphabet-C (GOOG.US)$declines. Google, a subsidiary of Alphabet, is considering monetizing a premium feature of its new generated AI as part of its effort to revamp its search business, according to reports after the closing bell the previous day. This marks the first time for them to start charging for major services.
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Alphabet is considering acquiring HubSpot, according to reports.
Amazon's growing cash reserves are expected to be used for shareholder returns, and the stock is close to its all-time high.
United States $Amazon (AMZN.US)$For a long time, it has been the most reluctant among major tech companies when it comes to shareholder returns. Currently, the company is generating a large amount of cash, and there are voices on Wall Street that expect even more generous returns.
United States $Amazon (AMZN.US)$For a long time, it has been the most reluctant among major tech companies when it comes to shareholder returns. Currently, the company is generating a large amount of cash, and there are voices on Wall Street that expect even more generous returns.
Tesla's stock is rising as production for right-hand drive cars for export to India begins at its German factory.
$Tesla (TSLA.US)$The stock market is being led higher by EV-related companies. Amidst concerns about the future of demand for electric vehicles (EVs) and increasing uncertainty surrounding the company's prospects, its stock has been declining year-to-date. However, today there seems to be a movement of position adjustment ahead of tomorrow's US employment statistics, and there is growing speculation of a buyback of the company's stock.
$Tesla (TSLA.US)$The stock market is being led higher by EV-related companies. Amidst concerns about the future of demand for electric vehicles (EVs) and increasing uncertainty surrounding the company's prospects, its stock has been declining year-to-date. However, today there seems to be a movement of position adjustment ahead of tomorrow's US employment statistics, and there is growing speculation of a buyback of the company's stock.
Normalizing will take time as production facilities recover to 80% capacity at Taiwan's TSMC.
As the world's largest semiconductor contract manufacturer, $Taiwan Semiconductor (TSM.US)$On the evening of the 4th, Taiwan Semiconductor Manufacturing Company (TSMC) disclosed that the operation of some factories has been affected by an earthquake off the eastern coast of Taiwan. It is expected to take more time for adjustments before fully resuming automated production. The expected period was not indicated. More than 80% of the production facilities have already been restored.
As the world's largest semiconductor contract manufacturer, $Taiwan Semiconductor (TSM.US)$On the evening of the 4th, Taiwan Semiconductor Manufacturing Company (TSMC) disclosed that the operation of some factories has been affected by an earthquake off the eastern coast of Taiwan. It is expected to take more time for adjustments before fully resuming automated production. The expected period was not indicated. More than 80% of the production facilities have already been restored.
Foreign exchange
Key Market Events
Source: Dow Jones, Minkabu, Bloomberg, Nihon Keizai Shimbun, Asahi Shimbun, Wealth Advisor, Fisco, Jiji Press
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