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Outlook for the US market: Nvidia rebounded, with the Nasdaq Composite Index starting 122 points higher.

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moomooニュース米国株 wrote a column · Jul 18, 2024 21:33
Outlook for the US market: Nvidia rebounded, with the Nasdaq Composite Index starting 122 points higher.
Hello, Moomoo users!Here are tonight's insights into NY stocks.
Market Overview
USA market started, with the Dow Jones Industrial Average, which consists of high-quality stocks, opening at $41.52 lower at $41,156.56, while the Nasdaq Composite Index, with a high proportion of technology stocks, started at 122.23 points higher at 18,119.15. The S&P 500, composed of the stocks of 500 large-cap companies in the USA, opened 20.29 points higher at 5,608.56.
Outlook for the US market: Nvidia rebounded, with the Nasdaq Composite Index starting 122 points higher.
Top News
Rebound in technology stocks
$Taiwan Semiconductor (TSM.US)$ due to announcing strong earnings, and the sentiment towards the technology sector recovering, technology stocks are set to recover from this week's slump.
$NASDAQ 100 Index (.NDX.US)$ Futures for futures up by 0.2%, suggesting a partial rebound of the index, which has been the worst since 2022, due to concerns about the US strengthening chip sales restrictions to China.
USD/JPY remained subdued as calls grow for Joe Biden to withdraw from the 2024 election campaign.
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Taiwan's TSMC sees a 40% increase in revenue, marking the second consecutive quarter of revenue and profit growth.
Outlook of the FRB
● On Thursday, it is scheduled for three FRB chairs, Austan Goolsbee, Lori Logan, and Mary Daly, to give speeches.
● Furthermore, the announcement of the number of jobless claims is also scheduled, leading traders to explore the prospects of a rate cut.
● On Thursday, former FRB official Robert Kaplan indicated his view that the central bank will take action in September.
Latest Information on OPEC+
● OPEC+ delegation expects no changes to the supply increase plan starting from the fourth quarter during the upcoming monitoring meeting of the group next month, anticipating it to become a routine procedure.
OPEC group, centered on Saudi Arabia and Russia, agreed last month to gradually resume the production of around 2.2 million barrels of crude oil from October.
If prices fall sharply, officials emphasized at a committee meeting scheduled for August 1 that they could also postpone production increases if necessary. Subsequently, the market rebounded, and Brent futures were trading around $85 per barrel.
US initial jobless claims increase to 0.243 million, exceeding expectations
The US Department of Labor announced that the seasonally adjusted initial jobless claims for the week ending on July 13, reported on the 18th, increased by 0.02 million to 0.243 million. The number of claims surged in southern Texas hit by Hurricane 'Beryl,' reaching nearly a year high overall.
According to Amazon, Prime Day in 2024 recorded its highest revenue ever.
$Amazon (AMZN.US)$ It is reported that the number of items purchased by Prime members exceeded all previous Prime Days.
Amazon's US stock is up more than 1% in pre-market trading.
moomoo News of Zeber
Source: moomoo, Bloomberg, Dow Jones
This article uses auto-translation in some sections
Outlook for the US market: Nvidia rebounded, with the Nasdaq Composite Index starting 122 points higher.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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