On July 8th, US Eastern Time 16:00 (04:00 on July 9th, Beijing time), the Dow Jones Industrial Average (175 15.42, -26 1.49,-1.47 The Standard & Poor's 500 Index fell by 34.65 points, or1.66%, to 2046.69. The Nasdaq (4909.76, -87.70,-1.75%) composite index dropped 87.70 points to 4909.76 points, with a decrease of 1.75%.
On Wednesday morning 1 1: 32 EDT, the new york Stock Exchange suspended all securities trading. A spokesman for the new york Stock Exchange said that the exchange had encountered technical problems and was trying to solve them as soon as possible. At 3pm EDT on Wednesday, the new york Stock Exchange resumed trading.
Corporate earnings season is coming. Alcoa (10.5, -0.56, -5.06%)(AA) will announce its earnings after the close of trading on Wednesday, thus informally kicking off the earnings season.
The decline of China stock market worried investors. The China stock market continued to fall on Wednesday, with more than 40% of listed companies suspended today. The Shanghai Composite Index closed down 5.9%, down more than 30% from last month's peak.
The Greek debt crisis continues to attract attention. Tuesday's meeting of the Euro Group and the summit of euro zone leaders failed to make any progress on the bailout agreement. The European Union stipulates that Greece must put forward a credible reform plan before Sunday's deadline and reach an agreement with international lenders, otherwise it will face the risk of bankruptcy and exit the euro zone.
Greek Prime Minister alexis tsipras told the European Parliament on Wednesday that the Greek government will submit a detailed reform plan in the next few days. At the same time, Athens applied for rescue funds from the European Stability Mechanism (ESM).
According to media reports, Greece applied to the European Stability Mechanism (ESM) for a three-year loan plan on the 8th local time to repay its current debt. Greek banks and stock markets remained closed on Wednesday.
On Tuesday, the US stock market finally closed higher, after it was reported that Tsipras had proposed to obtain temporary financing before the end of July.
The Federal Reserve released the latest FOMC meeting minutes at 2 pm EST on Wednesday. The minutes show that Fed officials tend to be "doves" when discussing economic policies at the meeting, but they also set the stage for future interest rate hikes.
San Francisco Fed President john williams (56.05438+0, -0.88,-1.55%) will deliver a speech on economic prospects in Los Angeles. Williams reiterated his previous view that the Fed's decision to raise interest rates needs to "depend on economic data". At the same time, he said that every policy meeting of the Federal Open Market Committee (FOMC) will discuss the issue of raising interest rates; But there is no convincing sign that inflation has bottomed out.
The earnings season is coming. Alcoa will announce its financial report after today's close, thus officially kicking off the second fiscal quarter. On average, Alcoa is expected to earn 23 cents a share in the second quarter.
WDFC, a manufacturer of special chemicals, will also announce its financial report after today's close. The market expects the company's earnings per share to average 77 cents in the third quarter.
On the whole, analysts believe that the profitability of enterprises in this quarter is weak. Analysts of London Capital Group said in the research report: "For US stocks whose value is above average, the slowdown in profit growth will be another headwind that will be faced soon. Other unfavorable factors include the Greek debt situation, the decline in the China stock market and the uncertainty of the Fed's first interest rate hike since the 2008 financial crisis. "
On individual stock news, Microsoft (44.24, -0.06, -0. 14%)(MSFT) shares fell. According to Dow Jones News, Microsoft [Weibo] announced that it will reorganize its telephone hardware business, and will consider the impairment change of about 7.6 billion US dollars, and cut up to 7,800 jobs, including up to 2,300 jobs in Finland.
The share price of Tesla (254.96,-12.92, -4.82%) (TSLA) fell, after Pacific Crest downgraded its stock rating from "too matched" to "evenly matched" for fear that its share price was too high.
JPMorgan Chase (JPM) shares fell. According to the Wall Street Journal, the bank hopes to pay at least $6,543.8+250 million to solve the investigation of its credit card problem.
Shares of Barclays Bank (BCS), which is listed in the United States, rose after the departure of Antony Jenkins, its chief executive.
European stock markets closed up slightly by 0.04% on Wednesday, reversing the previous four consecutive trading days, because Greece has requested the third aid plan from the euro zone's aid fund, which means that this debt-burdened country will be able to suspend bankruptcy.
The New York Mercantile Exchange gold futures for August delivery rose 10.90 USD, or 1%, to close at1/63.50 USD per ounce. Crude oil futures for August delivery fell 68 cents or 65,438+0.3% to close at 565,438+0.65 USD per barrel.
Federal Reserve Announces Minutes of June Policy Meeting: Dove Position
On Wednesday, the Federal Reserve released the minutes of the FOMC policy meeting in June. The minutes show that Fed officials tend to be "doves" when discussing economic policies at the meeting, but they also set the stage for future interest rate hikes.
According to the minutes, the participants in the policy meeting in June thought that the US economic situation was improving, but they were not prepared to withdraw from the zero interest rate policy implemented at the end of 2008. However, the interest rate hike plan will be described in detail in an "implementation document", indicating the future interest rate hike time. The Fed has not raised interest rates in the past nine years.
"The judgment made by most participants is that the conditions for tightening monetary policy have not yet been met; Some participants warned that decisions should not be made too early. The minutes of the meeting said. "Many participants stressed that in order to determine whether the conditions for starting to implement policy normalization measures have been met, they will need more information to show that economic growth has been strengthened, the job market situation has continued to improve, and the inflation rate is moving towards the goal of the Federal Open Market Committee."
Federal Reserve Williams: The decision to raise interest rates depends on economic data.
San Francisco Fed President john williams reiterated his previous view on Wednesday that the Fed's decision to raise interest rates needs to be "determined by economic data".
Williams also said that he has not seen any convincing signs that inflation has bottomed out. He said: "I will continue to wait and see until I have greater confidence that inflation will return to the target level of 2%. Every FOMC policy meeting will discuss the issue of raising interest rates. "
Tsipras: Greece will ask ESM for financial assistance on Wednesday.
Greek Prime Minister Tsipras told the European Parliament that Greece will submit a request for assistance to the European Stability Mechanism (ESM) on Wednesday, and asked to start debt relief negotiations. Tsipras called on the euro zone to find a final solution to the Greek debt crisis and said that the Greek government is working hard to avoid a final break.
Due to computer failure, new york Stock Exchange suspended all securities trading.
New york Stock Exchange suspended all securities trading at 1 1: 32 local time due to computer failure. Spokesman Marisa Arnold said: "At present, there are technical problems that are being solved as soon as possible. We will announce the latest news as soon as possible, try our best to give a quick solution, transmit information thoroughly and transparently, and ensure the timely and orderly resumption of trading. "
Stocks in other markets, such as Nasdaq [Weibo], trade as usual, and Nasdaq announced that it would help it solve the technical problems of the new york Stock Exchange. The NYSE also said that all open orders will be cancelled. Kevin Callahan, a spokesman for the US Securities and Exchange Commission, declined to comment.
NYSE [Weibo] plays a dual role in the US stock market. On the one hand, it is a place for investors to buy and sell stocks, and at the same time, it also performs administrative and listing functions, and supervises two types of processors (Tape A and Tape B) in the three securities information processing systems of US stocks. These two processors are working normally.
Microsoft announced that it will lay off 7800 people.
On the evening of July 8, news from Dow Jones said that Microsoft announced the restructuring of its telephone hardware business, which would include about $7.6 billion in impairment changes and cut up to 7,800 jobs, including up to 2,300 jobs in Finland.
Earlier today, the new york Times quoted people familiar with the matter as saying that Microsoft [Weibo (13.45, 0.05, 0.4 1%)] may announce its latest layoff plan as early as Wednesday (US time), after the company announced its plan to lay off18,000 people in July last year. Now the news has been confirmed.
Microsoft said that the company is transforming from a single mobile phone business to a vibrant Windows ecosystem and will complete the above plan before the end of this fiscal year. By the end of March this year, Microsoft had 1 18000 employees worldwide. Reorganization and layoffs are expected to further reduce the company's costs in the field of mobile technology.
JPMorgan Chase was fined $654.38 million+$36 million for improper credit card collection.
Eric Edwin S. Shneidman, Attorney General of New York State, announced on Wednesday that JPMorgan Chase has agreed to pay a total of $654.38+36 billion to investigate its improper credit card collection and bad debt sales. JPMorgan Chase has reached a settlement with the Consumer Financial Protection Bureau, 47 States and Washington, D.C. ..
New york gold futures closed up 1%.
Gold prices in new york rose 1% on Wednesday, rebounding from the previous day's nearly four-month low. Concerns about the Greek debt deadlock and China's growth prospects persist, and a series of unrelated events have led to a sharp drop in US stocks, pushing up investors' demand for safe haven gold. Gold futures for August delivery in the New York Mercantile Exchange closed up 65,438+00.90 USD, or 65,438+0%, to 65,438+065,438+063.50 USD per ounce.
On Wednesday, New Zealand oil fell by 1.3%, while cloth oil rose by 0.35%.
The New York Mercantile Exchange crude oil futures for August delivery fell 68 cents or 65,438+0.3% to close at 565,438+0.65 USD per barrel. New york's oil price is under pressure due to the continuous increase of energy stocks in the United States. London Intercontinental Exchange (22 1.86, -5.37,-2.36%) August Brent North Sea crude oil futures price rose 20 cents, or 0.35%, to close at $57.05 a barrel.
According to a report released by the us energy information administration (EIA) on Wednesday, US crude oil inventories increased by 400,000 barrels in the week of July 3. Analysts surveyed by Platts Energy Information predicted on average that US crude oil inventories decreased by 65,438+065,438+million barrels last week.
European stock markets closed up 0.04% on Wednesday.
European stock markets closed up slightly by 0.04% on Wednesday, reversing the previous four consecutive trading days, because Greece has requested the third aid plan from the euro zone's aid fund, which means that this debt-burdened country will be able to suspend bankruptcy.
On the same day, the EuroStoxx 600 index closed up 0.04% at 372.88 points on Wednesday, partly due to the decline of the Russian stock market.
In European stock markets, the German DAX 30 index closed up 0.7% at 10747.30. The French CAC 40 index closed up 0.8% at 4639.02 points; Italy's FTSE 100 index closed up 2.6% at 2 15 12.39. Spain's IBEX 35 index closed up 0.8% at 10430.30. Russia's MICEX index closed down 1.2%. Britain's FTSE 100 index closed up 0.9% to 6490.70. (Zhang Jun)