Morning update: Dow rises significantly, yen climbs to the low 151 yen level against the dollar, and the AI rally expands beyond Nvidia.
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Here are the key points of the early morning report today.
Expected range for Tokyo stock prices: 30,000 yen to 80,000 yen (closing price on the 27th was 76,273.73 yen).
Dow Jones Industrial Average surges significantly, likely to end the month with gains = US stock market overview.
Federal Reserve Board member Waller: No need to rush rate cuts - delay or reduce the number of cuts.
Yen rises to the low 151 yen level against the dollar, renewed caution over intervention increases during trilateral meeting.
Has the AI rally expanded beyond Nvidia to other hardware companies, becoming the next hot stock?
Nearly 5 trillion yen in stock sales, with pension funds adjusting at the end of the period - Goldman Sachs.
USA and China considering raising tariffs to prevent the influx of Chinese-made EVs.
Carnival raises full-year outlook - impact from Baltimore bridge collapse and Red Sea situation weighing down.
moomoo News - Amelia
Dow Jones Industrial Average surges significantly, likely to end the month with gains = US stock market overview.
Federal Reserve Board member Waller: No need to rush rate cuts - delay or reduce the number of cuts.
Yen rises to the low 151 yen level against the dollar, renewed caution over intervention increases during trilateral meeting.
Has the AI rally expanded beyond Nvidia to other hardware companies, becoming the next hot stock?
Nearly 5 trillion yen in stock sales, with pension funds adjusting at the end of the period - Goldman Sachs.
USA and China considering raising tariffs to prevent the influx of Chinese-made EVs.
Carnival raises full-year outlook - impact from Baltimore bridge collapse and Red Sea situation weighing down.
moomoo News - Amelia
Market Overview
In the US stock market on the 27th, the NY Dow Jones Average rose by $477.75, reaching 1,9760.08, a sharp rebound after 4 days. The Nasdaq Composite Index was 83.822 points higher at 1,6399.521. In the Tokyo stock market on the 28th, amid concerns of selling pressure returning, strong buying interest was observed across a wide range of leading stocks, showing resilience at around the 40,000 yen level for the Nikkei Average.
In the US stock market on the 27th, the NY Dow Jones Average rose by $477.75, reaching 1,9760.08, a sharp rebound after 4 days. The Nasdaq Composite Index was 83.822 points higher at 1,6399.521. In the Tokyo stock market on the 28th, amid concerns of selling pressure returning, strong buying interest was observed across a wide range of leading stocks, showing resilience at around the 40,000 yen level for the Nikkei Average.
Top News
The Dow Jones Industrial Average is making a significant rebound, with signs of ending the month with another increase in the United States stock market overview.
In the US stock market, the Dow Jones Industrial Average made a significant rebound. Although the Nasdaq was trending weakly, it managed to rebound by the end. While the US stock market awaits clues on the timing of rate cuts, there have been adjustments at the end of the month in recent days, causing a continued decline. However, it seems likely to end this month with an increase on a quarterly basis, and there are signs of potentially drawing a positive candlestick pattern for the 5th consecutive month.
Federal Reserve Board (FRB) Director Waller: No rush to cut rates - Consider delaying or reducing the frequency.
Federal Reserve Board (FRB) Director Waller emphasized on the 27th that recent economic data support delaying the expected rate cut by the end of the year or reducing the number of cuts, indicating that there is no need to rush the interest rate cut.
The yen rose to the low 151 yen per dollar range, with increased vigilance for intervention at the trilateral meeting.
In the Tokyo foreign exchange market on the morning of the 28th, the yen exchange rate was moving higher at around 151 yen per dollar from the previous evening. Following a depreciation in the yen during overseas hours, the Ministry of Finance, the Bank of Japan, and the Financial Services Agency held a trilateral meeting, intensifying intervention warnings, which pushed up the yen.
AI rally expands beyond Nvidia, hardware could be the next craze stock.
Semiconductors for artificial intelligence (AI) $NVIDIA (NVDA.US)$ While it may lack the unique charm, a hardware company providing AI computing infrastructure is becoming the next hot stock.
Related article:≪エヌビディア特集≫ 「GTC 2024」で示した凄さ、株価反応、関連銘柄
The dawn of humanoid robots and the revolution brought by AI! Which stocks are likely to benefit?
Even with nearly 5 trillion yen in stock sales, pension funds are considering adjustments at the end of the period - Goldman.
As stock prices perform well approaching the end of the quarter, pension funds may sell approximately 32 billion dollars (about 4.8 trillion yen) worth of shares to adjust their positions. $Goldman Sachs (GS.US)$ calculated.
USA, China consider raising tariffs to block the influx of EVs made in China.
The US government and Congress are taking measures to prevent the inflow of Chinese electric vehicles (EVs) into the United States. There is a proposal to impose a tax rate exceeding 100% in Congress, which would also apply if Chinese manufacturers produce in Mexico. Concerns about Chinese-made EVs dominating the world with their low prices are increasing across party lines.
Carnival raises full-year outlook - Negative impact from the Baltimore bridge collapse and the situation in the Red Sea.
US cruise ship operators $Carnival (CCL.US)$ Against the backdrop of record passenger demand, the US cruise ship operator slightly raised its full-year performance outlook for 2024. However, they also cited negative impacts related to the collapse of the large bridge in Baltimore, and continue to be affected by conflicts in the Red Sea region.
The Dow Jones Industrial Average is making a significant rebound, with signs of ending the month with another increase in the United States stock market overview.
In the US stock market, the Dow Jones Industrial Average made a significant rebound. Although the Nasdaq was trending weakly, it managed to rebound by the end. While the US stock market awaits clues on the timing of rate cuts, there have been adjustments at the end of the month in recent days, causing a continued decline. However, it seems likely to end this month with an increase on a quarterly basis, and there are signs of potentially drawing a positive candlestick pattern for the 5th consecutive month.
Federal Reserve Board (FRB) Director Waller: No rush to cut rates - Consider delaying or reducing the frequency.
Federal Reserve Board (FRB) Director Waller emphasized on the 27th that recent economic data support delaying the expected rate cut by the end of the year or reducing the number of cuts, indicating that there is no need to rush the interest rate cut.
The yen rose to the low 151 yen per dollar range, with increased vigilance for intervention at the trilateral meeting.
In the Tokyo foreign exchange market on the morning of the 28th, the yen exchange rate was moving higher at around 151 yen per dollar from the previous evening. Following a depreciation in the yen during overseas hours, the Ministry of Finance, the Bank of Japan, and the Financial Services Agency held a trilateral meeting, intensifying intervention warnings, which pushed up the yen.
AI rally expands beyond Nvidia, hardware could be the next craze stock.
Semiconductors for artificial intelligence (AI) $NVIDIA (NVDA.US)$ While it may lack the unique charm, a hardware company providing AI computing infrastructure is becoming the next hot stock.
Related article:≪エヌビディア特集≫ 「GTC 2024」で示した凄さ、株価反応、関連銘柄
The dawn of humanoid robots and the revolution brought by AI! Which stocks are likely to benefit?
Even with nearly 5 trillion yen in stock sales, pension funds are considering adjustments at the end of the period - Goldman.
As stock prices perform well approaching the end of the quarter, pension funds may sell approximately 32 billion dollars (about 4.8 trillion yen) worth of shares to adjust their positions. $Goldman Sachs (GS.US)$ calculated.
USA, China consider raising tariffs to block the influx of EVs made in China.
The US government and Congress are taking measures to prevent the inflow of Chinese electric vehicles (EVs) into the United States. There is a proposal to impose a tax rate exceeding 100% in Congress, which would also apply if Chinese manufacturers produce in Mexico. Concerns about Chinese-made EVs dominating the world with their low prices are increasing across party lines.
Carnival raises full-year outlook - Negative impact from the Baltimore bridge collapse and the situation in the Red Sea.
US cruise ship operators $Carnival (CCL.US)$ Against the backdrop of record passenger demand, the US cruise ship operator slightly raised its full-year performance outlook for 2024. However, they also cited negative impacts related to the collapse of the large bridge in Baltimore, and continue to be affected by conflicts in the Red Sea region.
Tokyo Stock Market Outlook
Stock market outlook for the 28th: Will the firmness hold, with dividend rights ex-date prompting buying on dips?
foreign exchange
Stock market outlook for the 28th: Will the firmness hold, with dividend rights ex-date prompting buying on dips?
foreign exchange
Key Market Events
Source: Dow Jones, MINKABU, Bloomberg, The Nikkei, Wealth Advisor, Fisco
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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