After a low opening on Monday, the US stock market rebounded. Has the adjustment been completed?
Multiple indicators suggest that the US stock market may be approaching a short-term bottom. The 14-day RSI of the S&P 500 index is close to 30, which is below the oversold area of 30 and is often accompanied by a short-term rebound. However, technology stocks are far from being cheap, with the Nasdaq's P/E ratio at 24 times, higher than the average level in the past decade.
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Nomura's stunning statement: The next threat to the global stock market may come from the speculative forces slowly exiting US stocks.
International financial giant Nomura Securities stated on Monday that speculators who are hesitant to exit long positions in US stocks are instead posing the next major threat to the global equity market.
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8/6 [Strength and weakness material]
[Bullish/Bearish Factors] Bullish factors: USD exchange rate at 143.80-90 yen, Chicago Nikkei futures rose (33,190, Osaka +1810), U.S. long-term interest rates decreased, expectations for inflation stabilization in the U.S., active share buybacks, request from TSE for corporate value enhancement. Bearish factors: Nikkei average down (31,458.42, -4451.28), NY Dow down (38,703.27, -1033.99), Nasdaq Composite Index down (16,200.08, -576.08), SOX index down (451.
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Tech Stocks Lead Dow Jones Industrial Average To Largest Drop In Almost Two Years
Market liquidity flashing red again! The scale of overnight reverse repurchase agreements by the Fed has dropped to a new low of more than three years.
Over the past three trading days, as the repurchase market returned to normal after the pressure on balance sheets at the end of the month and settlement of treasury auctions, demand for the Federal Reserve's overnight reverse repurchase agreements decreased by about 97 billion US dollars. Many market participants and central bankers view the popularity of reverse repos as a sign of excess liquidity in the financial system, and vice versa.
S&P 500 Sinks: Top 5 Losers and Winners in the S&P 500's Worst Session Since 2022
Overnight US stocks | Global stock markets suffer a "bloodbath", with S&P 500 experiencing its largest single-day decline since 2022.
At the close, the Dow Jones fell 1,033.99 points, a 2.60% decline, reporting at 38,703.27 points; The Nasdaq fell 576.08 points, a 3.43% decline, reporting at 16,200.08 points; The S&P 500 index fell 160.23 points, a 3.00% decline, reporting at 5,186.33 points.
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