The three governors of the U.S., Europe, and the U.K. central banks all said that inflation is the top priority at this stage, and a sharper interest rate hike in summer cannot be ruled out. Federal Reserve Chairman Powell said the U.S. economy is in a good position to resist monetary tightening, reiterated that inflation will be reduced, and promised not to let inflation affect the economy for a long time, but pointed out that there is a risk of a sharp slowdown in the economy caused by raising interest rates, and the bigger risk is High inflation persists and the process of lowering inflation is likely to produce “some pain”, acknowledging that a soft landing has been more challenging in recent months and there is no guarantee of success. European Central Bank President Christine Lagarde said the era of ultra-low inflation is unlikely to return, and central banks need to adjust to expectations of sharply upward price growth and be prepared to act decisively if necessary. The Bank of England’s Bailey said stronger action could be taken if there were signs that continued price increases were a problem.
Investors weighed comments from top central bank officials on the outlook for the economy and interest rates. The three major U.S. stock indexes rose and fell alternately during the session. Before the end of June, the S&P 500 index” data-wpil-keyword-link=”linked”>S&P 500 index, which fell back into a bear market on Tuesday, failed to reverse the decline until the close, and was set to record its worst semi-annual performance in half a century. Tuesday The energy sector, which bucked the trend, led the decline. Blue-chip technology stocks rose and fell differently. Apple, Microsoft, and Amazon rose more than 1%, while Tesla, which was revealed to be closing its San Mateo office in California and laying off 200 employees, fell more than 4%. Most popular Chinese concept stocks fell following the trend of A-shares and Hong Kong stocks, responding that the short-selling report contained a large number of errors and unconfirmed speculations . The U.S. stock market of Weilai Automobile fell nearly 8% at the beginning of the market, and then the decline narrowed, and the decline was more obvious than that of Weilai Hong Kong stocks at the close. ease.
During Powell’s speech, the U.S. dollar index, which reversed two straight losses on Tuesday, further recovered, regaining 105.00 during the session, hitting a new high in nearly two weeks. Following European bonds, U.S. Treasury bond prices continued to rise, and yields fell further. The benchmark 10-year U.S. Treasury yield fell below 3.10% intraday, down more than 10 basis points from Tuesday’s high. At the same time, the market’s expectations for a rate cut after the Fed’s rate hike peaked next year has increased, and the bond market currently expects a 50 basis point rate cut next year .
The ruble, the leader of non-US currencies this year, took a break from gains. The ruble, which continued to hit a seven-year high, turned lower against the dollar after the head of Russia’s central bank said it might buy currencies of “friendly” countries in an attempt to devalue the ruble .
Spain’s June CPI exceeded expectations with a year-on-year increase of 10.2%, the highest growth rate since April 1985. Lagarde, like Powell, adhered to the hawkish stance of raising interest rates. European stocks fell together, and the pan-European stock index fell to a two-week high. German CPI unexpectedly fell instead of rising in June, and the yields of European government bonds, which had been rising for several days, fell across the board. The yield on the benchmark 10-year German Bund fell more than 10 basis points on a one-day basis for the first time in a week.
In commodities, European natural gas futures rebounded sharply after media said Britain was considering cutting off natural gas supplies to the European Union in an emergency , with continental European benchmark Dutch natural gas hitting a more than three-month high after last Thursday; The U.S. EIA crude oil inventory fell by 2.76 million barrels unexpectedly, conveying a worrying situation of oil inventory tension. International crude oil, which has risen for three consecutive days, still turned down intraday. Comments said that some investors profited after oil prices hit highs in nearly two weeks. Leaving, in part to promote oil prices fell. As the U.S. dollar strengthened, precious metals gold and silver continued to fall, with gold futures hitting two-week lows again and again, and silver futures hitting their lowest point in nearly two years. Industrial metals were mixed, with copper rebounding, nickel, zinc continuing to rise, aluminum, lead, and tin continuing to fall, approaching their respective lows set last Friday in at least a year.
The S&P Nasdaq closed slightly lower for three consecutive yin, and the energy sector led the decline in small-cap stocks, chips, and China probably underperformed the broader market.
The performance of the three major U.S. stock indexes was mixed during the session. The S&P 500 and the Nasdaq Composite both opened lower, and turned up more than once during the session. They both rose about 0.4% when they refreshed the daily high in early trading, and the S&P refreshed the daily low in midday trading. At the time, it fell nearly 0.6%, and the Nasdaq fell nearly 1% when it refreshed the daily low in early trading. The Dow Jones Industrial Average, which opened higher, turned down in a short-term at the beginning of the session. After turning down twice in midday trading, it got rid of the decline and refreshed the daily high. It rose by nearly 206 points and nearly 0.7% in the day.
In late trading, the Dow maintained its gains, while the S&P and Nasdaq failed to turn up again. In the end, only the Dow closed up, up 82.32 points, or 0.27%, at 31029.31 points, ending a two-day losing streak, but failed to smooth out Tuesday’s near-term gains. 1.6% decline. The S&P closed down 0.07% at 3,818.83 points. It was in a bear market for two consecutive days. The close fell more than 20% from the record high on January 3 this year, and is set to record the largest semi-annual decline since 1970 as of this Thursday. The Nasdaq closed down 0.03% at 11,177.89 points, and fell for three consecutive days with the S&P, continuing to fall away from the high since June 9 set last Friday.
The Russell 2000, a value-heavy small-cap index, closed down 1.12 percent, underperforming the broader market and falling for two straight days. The tech-heavy Nasdaq 100 closed up 0.18%, snapping a two-day losing streak and underperforming the broader market.
Among the major sectors of the S&P 500, 5 closed down on Wednesday, led by energy, which fell more than 3.4%. Other sectors – financial, industrial, materials, and real estate fell less than 0.8%. Among the 6 sectors that closed up, Healthcare, which rose nearly 0.9 percent, led the way, while Tesla’s consumer discretionary edged up, while utilities rose less than 0.1 percent.
Leading technology stocks closed mixed, with Tesla closing down 1.8%, falling for three straight days. Among the six major technology stocks of the original FAANMG and the current GANMMA, Meta, the parent company of Facebook, closed up 2%, Amazon rose more than 1.4%, Apple rose 1.3%, and Microsoft rose nearly 1.5%. It fell nearly 0.7%, and Google’s parent company Alphabet fell nearly 0.3%, both of which continued to fall.
Among the volatile stocks, 3B Home Furnishing (BBBY), which had lower-than-expected quarterly revenue, higher-than-expected losses, and announced the resignation of its CEO, closed down 23.6%; Morgan Stanley was targeted by Morgan Stanley due to concerns about debt and possible future demand shocks After the price was almost halved, Carnival Cruise Line (CCL) closed down 14.1%, and other cruise stocks also fell. Royal Caribbean Cruises (RCL) closed down 10.3%, Norwegian Cruise Line (NCLH) closed down 9.3%; Upstart (UPST), an AI loan platform that downgraded its rating from hold to underweight, was not optimistic about the central bank’s interest rate hikes and growth prospects in the macro environment, and closed down 10.2%; after lowering its second-quarter and full-year profit guidance, JPMorgan Chase downgraded its rating from Overweight to Neutral Bath & Body Works (BBWI) closed down nearly 9%; semiconductor tester Teradyne (TER ) closed down 5.2%; while General Mills (GIS), which beat quarterly earnings and revenue estimates, closed up nearly 6.4%.
Most of the popular Chinese concept stocks fell, generally underperforming the broader market, but some Chinese concept stocks rebounded. Chinese concept ETFs KWEB and CQQQ closed down about 1.1% and 1.3% respectively. The Nasdaq Golden Dragon China Index (HXC) closed down 0.65%. Among the four constituent stocks of the Nasdaq 100 index, Baidu closed down 1.6%, NetEase fell 1.3%, JD.com rose nearly 0.5%, and Pinduoduo rose nearly 0.2%. The performance of the three new car-making forces was stronger than that of Tuesday, with NIO closing down more than 2%, Xiaopeng Motors falling more than 1.7%, and Li Auto rising 2.7%. Among other stocks, Boss Zhipin and Manbang, which have resumed new user registration, rose about 3.6% and 7.8% respectively at the beginning of the market, and then quickly turned down, closing down nearly 1.9% and more than 10% respectively. Station B, Zhihu, NetEase Youdao closed down more than 4%, Douyu fell nearly 4%, Huya fell 3%, Alibaba fell 0.6%, while New Oriental rose more than 9%, Tencent Fanlist rose more than 1%, and Tencent Music rose 0.1%.
In terms of European stocks, the pan-European stock index, which had risen for three consecutive days, retreated. The Stoxx Europe 600 fell to its highest level since June 10 set on Tuesday. Major European stock indexes also fell. Only health care, which rose more than 0.7%, closed up, led by real estate, which fell 3.5%, and tourism and automobiles, which both fell 2.6%. Among individual stocks, Just Eat Takeaway, Europe’s largest online ordering platform, which is doubted by the market to successfully sell its Grubhub business in the United States and whether it can make a profit without additional financing, tumbled 16.5%, and its share price hit a record low.
The 10-year U.S. Treasury yield fell below 3.1% intraday, down more than 10 basis points from Tuesday’s high
The prices of European government bonds, which had been falling for several days, rebounded, and the yields of euro zone government bonds reversed their three-day rising trend. By the end of the European market, the UK 10-year benchmark government bond yield fell 8.0 basis points on the day to 2.385%; the German government bond yield fell 10.9 basis points during the same period, the largest one-day drop since last Wednesday, at 1.519%. European stocks closed at the close. A moment ago, it broke through 1.50% to 1.498%, refreshing the recent two-day low.
The yield on the benchmark 10-year U.S. Treasury bond, which fell in intraday trading on Tuesday, fell further. On Wednesday, the U.S. stock market fell below 3.10% in midday trading, and was about 3.09% by the close of the U.S. stock market. It was as low as 3.0854% in the late New York session, setting a new low in the last three days. , down 8.71 basis points during the day, about 17 basis points lower than the recent four-day highs set by 3.25% intraday on Tuesday.
The dollar index stood at 105 and hit a new high for nearly two weeks. The ruble continued to hit a seven-year high during the session and then turned down
The ICE U.S. dollar index (DXY), which tracks the exchange rate of a basket of six major U.S. currencies, fell below 104.40 in early Asian trading to refresh the daily low, and fell more than 0.1% within the day. It was close to 105.15 for a time, hitting a new intraday high since June 16. It stood at 105.00 for the first time since June 17, and rose more than 0.6% within the day, approaching the intraday level of 105.80 on June 15. Since December 2002 High close.
By the close of U.S. stocks on Wednesday, the U.S. dollar index was above 105.10, up nearly 0.6% on the day, and rose for two consecutive days after falling for two consecutive days; the Bloomberg U.S. dollar spot index rose 0.5%, at its highest level since June 14.
Offshore RMB (CNH) fell for three consecutive days against the U.S. dollar. European stocks fell below 6.71 before the market to refresh the daily low, fell 151 points within the day, and then the decline narrowed. The US stocks recovered the 6.70 mark when they refreshed the daily high before the market. Beijing time 30 At 4:59 on the day, the offshore yuan was quoted at 6.7081 yuan against the US dollar, down 57 points from the late New York session on Tuesday, and fell from the intraday high since June 16, which was set at 6.67 before the intraday decline on Tuesday.
The onshore exchange rate of the Russian ruble against the U.S. dollar, which had risen for three consecutive days, closed at 53.2375, down 2.78% within the day. European stocks approached 50.00 in early trading, hitting a new high since May 2015 for two consecutive days. 51.00, and then continued to fall, European stocks turned down during the session.
Bitcoin (BTC) rose below $20,400 when it refreshed its daily high in the Asian market, European stocks fell below $20,000 before the market, and U.S. stocks fell below $19,900 at the beginning of the session, setting a record on Friday, June 22. Since the new low, it has fallen by more than $600 or about 3% from the intraday high. The US stock market regained $20,000 in late trading and closed above $20,000, down about 0.3% in the last 24 hours.
Crude oil fell in intraday trading, bid farewell to three consecutive yang falls from nearly two-week highs, European natural gas rose 8% to hit a new three-month high
International crude oil futures fell in intraday trading after rising for three consecutive days. When U.S. stocks refreshed their daily highs in early trading on Thursday, U.S. WTI crude oil rose to $114.05 and Brent crude oil rose to $120.41, both up slightly more than 2% during the day, but they all turned down in midday trading.
In the end, WTI August crude oil futures closed down 1.77% at $109.78/barrel; ICE Brent August crude oil futures closed down 1.46% at $116.26/barrel, and both U.S. crude oil fell away from the June 16 price set on Tuesday. closing highs since.
Lead is approaching a 19-month low, copper is getting rid of a 16-month low, gold has fallen for three consecutive weeks and hit a new two-week low, and silver has hit a new low in nearly two years
London base metal futures continued to be mixed on Wednesday. Lun aluminum, lead and tin fell for two consecutive days. Lun aluminum was approaching the lowest level since last July, which was set last Friday. Lun lead and tin fell to the lowest levels since November 2020 and March last year, respectively, which were set last Friday. trough. The London nickel rose for three consecutive days, far from the low since the end of January this year set last Friday; the zinc rose for two consecutive days, continuing to walk out of the six-month low set on Monday; low since.
Gold futures in New York fell for three consecutive days, rising above $1,830 when U.S. stocks refreshed the daily high before the market, and rose about 0.7% within the day. U.S. stocks quickly fell below $1,820 at the beginning of the session and turned down. In the end, COMEX August gold futures closed down $3.70. It fell 0.20% to $1,817.50 an ounce, setting a new low since June 14 after closing at a new low since June 15 on Tuesday. New York silver futures fell for two consecutive days, and COMEX July silver futures closed down 0.6% at $20.738 an ounce, hitting a new low since July 2020.