The DAX30 index of European stocks rose by 0.87%, the FTSE 100 index of Britain rose by 0. 18%, the CAC40 index of France rose by 0. 19% and the Stoxx 50 index of Europe rose by 0.29%.
The Nikkei 225 index of Asia-Pacific stock market rose by 0.03%, the KOSPI index of South Korea rose by 0.26%, the VN30 index of Vietnam rose by 0.07%, the Jakarta Composite Index of Indonesia rose by 0.02%, the SET index of Thailand rose by 0.73%, and the Mumbai 30 index of India fell by 0.08%.
The foreign exchange dollar hit a 20-year high for two consecutive days. A basket of dollar indexes (DXY) measuring the dollar against six major currencies (euro, Swiss franc, Japanese yen, Canadian dollar, British pound and Swedish krona) rose by 0.39% to110.25; The highest on that day was 1 10.55, a 20-year high.
Cryptocurrency cryptocurrency digital currency is mixed. Bitcoin fell 0. 19% to 198 17.27 USD/piece. Ethereum rose 4.30% to US$ 65,438+0.669 50 yuan/piece.
Gold was suppressed by the strength of the dollar. Comex gold futures closed down 0.6% at 17 12.90 USD/oz; Spot gold once fell below $65,438 +0.700 in the day, with the biggest drop of 0.6% in the day, approaching a seven-week low.
The crude oil market regained the upper hand in the economic recession and sluggish demand caused by the prospect of hawkish interest rate hikes by European and American central banks. WTI 65438+1October crude oil futures closed up 0.0 1% to 86.88 USD/barrel; 165438+ 10 Brent crude oil futures closed down 3.04% to 92.83 USD/barrel.
Base metals London base metals are mixed. LME copper futures closed up $30 to $7,683/ton, rising for three consecutive days and standing above $7,600. LME aluminum prices closed down more than 1% to $2,260/ton, hitting a new low of 17 months. LME zinc futures closed down $365,438+0 to $365,438+066/ton. LME lead closed up $65,438+08 to $65,438+0.893/ton. LME nickel futures closed up 1 16 USD to 2 1574 USD/ton. LME tin price closed down by USD 465,438+09 to USD 265,438+0.206/ton.
Macro news
The US economic data was better than expected, raising the expectation of raising interest rates, and the yield of US bonds rose across the board. The yield of benchmark 10-year US Treasury bonds rose by 16 basis points to 3.35%, the highest since 15 June. The yield of 30-year US bonds rose by more than 15 basis points, exceeding 3.50%, the highest in 20 14 years. The yield of two-year US Treasury bonds, which is more sensitive to monetary policy, rose by nearly 12 basis points to 3.5 1%, approaching the highest level since the intraday record of 1 1 in 2007. At the same time, the yield of short-term bonds continues to be higher than that of long-term bonds, highlighting the hidden dangers of recession. Data released on Tuesday showed that the US ISM service index unexpectedly rose to a four-month high of 56.9 in August, the second month after falling for three consecutive months. In addition, the August non-farm payrolls report released last Friday showed that the US job market is still in good condition. Better-than-expected economic data may mean that the Fed continues to raise interest rates sharply to curb inflation.
44 dollars! The "guiding price" of the United States for the Russian oil ceiling has come, aiming at the cost price of Russia. Adeba Alday Yeh, deputy to US Treasury Secretary Yellen, declared that the US set the "guidance price" of the US-Western oil export price ceiling at $44 per barrel, which is also the Russian estimated oil production cost. Adeba Le Alday Yehmo said: "We (the United States and the West) will not set the highest export price below the production cost of Russia, but it is (limited to) such a level that Russia can produce oil, but it cannot make money from exporting oil." "Our policy goal will be to strive to reduce Russia's income while maintaining Russia's ability to continue exporting energy."
Saudi Arabia lowered the price of crude oil in Asia and Europe, but raised the price of American customers. Saudi Arabia lowered the price of crude oil to customers in Asia and Europe, because the epidemic blockade and economic slowdown have cooled the energy demand in these two regions. Saudi Arabia lowered the benchmark Arabian light crude oil price for delivery to Asian refiners in June 5438+ 10 from a record high to $5.85/barrel higher than the benchmark crude oil price in the Middle East, down nearly $4 from September. This move is basically consistent with traders' expectations. In the past three months, Brent crude oil futures have fallen by 25% to below $95 a barrel. Saudi Arabia reduced the prices of all grades of crude oil for customers in Northwest Europe and the Mediterranean, most of which were reduced by $2 per barrel. The company raised the oil price of American buyers by 50 cents, and only Arabian light crude oil remained unchanged. Saudi Arabia sells most of its oil to Asia.
Traders cut their bets on the European Central Bank by 75 basis points this week, and German economic data exacerbated fears of recession. The European Central Bank (ECB) will hold its first monetary policy meeting since July on Thursday. As concerns about the health of Europe's economy heat up, traders are beginning to doubt whether the European Central Bank (ECB) will raise interest rates at its largest rate in more than 20 years this week. The long-term swap transactions linked to the European Central Bank show that the money market has lowered the expectation of raising interest rates, and the probability of raising interest rates by 75 basis points has dropped to about 65%. The highest probability last week was 80%. Data released on Tuesday showed that factory orders in Germany decreased for the sixth consecutive month, which aggravated concerns about the economic growth prospects. The last time the European Central Bank raised interest rates by 75 basis points was at 1999.
1999.
Barclays: Trass's plan to freeze the energy bill may mean that inflation in Britain has peaked. Economists from Barclays, Berenberg and Bloomberg Economic Research said that Trass's package plan to control electricity and natural gas prices will have a comprehensive impact on the British economy and may control the inflation rate at 10. 1% in July. The above forecast highlights the importance of curbing the surge in pressure on the cost of living to Britain's prospects. By suspending the increase of public utility charges, the government can control the part with the greatest upward pressure in consumer prices and give consumers and investors a breathing space to adapt to other pressures that push up the cost of goods and services. If British Prime Minister Tony Trass pushes ahead with plans to freeze energy bills for households and businesses, the inflation rate in Britain may have peaked.
Hedge Fund Manager Ackerman: Investors are waiting for the Fed to send out a "buy signal". Bill Ackman, founder and hedge fund manager of Pershing Plaza Capital Management, said on Tuesday that investors are waiting for the Fed to stop raising interest rates before returning to the stock market in a big way. He said: "I think that once investors realize that the Fed does not need to raise interest rates and will cut interest rates soon, this will be a buying signal for the market." Ackerman believes that when investors see a "strong and sustained trend" of slowing inflation, they may expect this. The fund manager predicts that the Fed still needs to raise interest rates and may keep interest rates at a high level for about a year to curb inflation. Looking forward to the next year or so, Ackerman predicts that the inflation rate will be around 3.5%-4.0%, and there is a downward trend.
Individual stock news
Qualcomm (QCOM. The United States) launched the first generation Snapdragon 6 and the first generation Snapdragon 4 mobile platforms. Qualcomm announced the launch of the first generation Snapdragon 6 mobile platform and the first generation Snapdragon 4 mobile platform. The former is the first Snapdragon 6-series platform that supports single-frame progressive HDR image sensor, and can take photos up to 65.438+0.08 billion pixels. The latter is the first 6 nm Snapdragon 4 series mobile platform. It is reported that the commercial terminal equipped with the first generation Snapdragon 6 is expected to be listed in the first quarter of 2023, and the commercial terminal equipped with the first generation Snapdragon 4 is expected to be listed in the third quarter of 2023.
Rating of big banks
Morgan Stanley: Raise the target price of Chevron (CVX). US) to US$ 65,438+093, maintaining the "shareholding" rating.
Morgan Stanley: Raise the target price of OXY. US$ to US$ 76, maintaining a "wait-and-see" rating.
Citigroup: North America's transportation industry is not good, and it has a wait-and-see attitude towards FDX.US
Jeffrey: Maintain the "Buy" rating of Stellantis(STLA). America), the target price is $65,438 +08.
Susquehanna: Raise the target price of DraftKings(DKNG). The United States) to $24 and maintain a positive rating on the stock.
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