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US stocks' three major stock indexes fluctuated within a narrow range in early trading. The market waited for the Fed's interest rate decision

November 08, 2018 23:40
source: Eastern Fortune Network

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Summary
[The three major stock indexes of the US stock market fluctuated in a narrow range in the morning and waited for the Fed's interest rate decision] Oriental Wealth Network on the 8th, the US stocks traded in a narrow range in early trading on Thursday. As of press time, the Dow rose 0.01% and the S&P 500 fell 0.19. %, the Nasdaq fell 0.28%. Due to losses in the third quarter, Qualcomm fell 6.19%; after Ctrip released its earnings report, it fell more than 18%. The Fed’s monetary policy meeting was held, and the interest rate resolution statement will be released at 03:00 on the 9th Beijing time, but there is no Powell press conference.

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On the 8th, Oriental Wealth Network, US stocks on Thursday, US stocks fluctuated within a narrow range in early trading. As of press time, the Dow rose 0.01%, the S&P 500 fell 0.19%, and the Nasdaq fell 0.28%. Due to losses in the third quarter, Qualcomm fell 6.19%; after Ctrip released its earnings report, it fell more than 18%. The Fed’s monetary policy meeting was held, and the interest rate resolution statement will be released at 03:00 on the 9th Beijing time, but there is no Powell press conference.

In the news, the Federal Reserve will announce the interest rate resolution at 03:00 on November 9th, Beijing time. The market generally expects that the Fed will not stand still this time under the expectation of a rate hike in December. In addition, the Fed will not release the latest economic forecast at this meeting, which is the last time there is no meeting for the post-conference press conference. Since 2019, the Federal Reserve will hold a press conference after eight regular policy meetings each year.

In terms of the stock index, Ctrip fell 18% at the beginning of the session. Earlier, Ctrip reported earnings report that the company's third quarter net revenue was 9.4 billion yuan (about 1.1 billion US dollars), an increase of 15% compared with the same period last year, an increase of 28% compared with the previous quarter. The net loss attributable to shareholders of the company was RMB 1.1 billion (US$165 million). The net loss was recorded in the third quarter, and the loss was due to equity investment. The net income and the diluted earnings per ADS were higher than the diluted earnings. expected. According to another report, Citigroup downgraded Ctrip's ADR rating from Neutral to Neutral, and lowered its target price from $41 to $35.


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According to media reports, people familiar with the matter said that Alibaba's newly established local life service company had a valuation of up to $30 billion after raising $4 billion in new funds. Alibaba sources said that more than $3 billion in new funds came from Alibaba itself and Softbank's vision fund. Chunhua Capital Group and Alibaba's affiliated company Ant Financial also participated in the financing. A source said that the company expects to end the round of financing by the end of November. Alibaba fell 1.3% before the market.

In terms of technology stocks, Tesla appointed Australian telecommunications CFO Denom as chairman of the board. On November 8, Tesla CEO Musk escorted De Hom as the new chairman of Tesla, saying that she is full of respect and looks forward to working together.

Robyn Denholm was an independent director of Tesla in 2014. He was the finance director of Toyota and the only executive on Tesla's board of directors with experience in other large automotive groups. In addition, Tesla said in a statement that Robyn Denholm is now the CFO (CFO) and strategic director of Telstra, Australia's largest telecommunications company.

At the end of September, Tesla Chairman and CEO Musk reached a settlement agreement with the US Securities and Exchange Commission (SEC) to resolve the latter’s allegations of securities fraud.

Under the terms of the settlement, Musk agreed to resign as chairman of Tesla within 45 days, but will continue to serve as CEO. In the next three years, he was not qualified to be elected as chairman again. At the same time, he will pay a fine of 20 million US dollars. In addition, the SEC also asked Tesla to appoint two new independent directors.

  Economic data

According to data released by the US Department of Labor, the number of initial jobless claims in the US on November 3 was 214,000, with an expected 213,000. The previous value was revised from 214,000 to 215,000.

In the US, the number of jobless claims for the week of October 27 was 1.623 million, with an expected 1.34 million and a previous value of 1.631 million.

Analysts pointed out that the number of US initial jobless claims fell slightly by 1,000 to 214,000 last week, slightly higher than market expectations, and was near historical lows, indicating that the job market remained strong. The average volatility of the first-time unemployment benefits fell by 250 to 21.375 million. In addition, the number of jobless claims for the week of October 27 fell by 8,000 to 1.62 million, the lowest level since July 1973.

  company news

Qualcomm reported that its fourth-quarter revenue was $5.8 billion, down 2% from the $5.9 billion in the same period last year, exceeding expectations; net loss was $500 million, compared to net profit for the same period last year. 1.2 billion US dollars. Excluding certain one-time items (not in accordance with US GAAP), Qualcomm's adjusted diluted earnings per share for the fourth quarter was $0.90, a 2% decrease from the $0.92 in the same period last year, exceeding expectations. However, Qualcomm's outlook for fourth-quarter revenue was far less than expected, resulting in its pre-market share price falling nearly 8%.

Mobile payment service provider Square announced that it did not count into certain one-off items (not in accordance with US GAAP), the company's third-quarter adjusted revenue was $431 million, exceeding expectations; adjusted diluted earnings per share It was $0.13, which exceeded expectations. But Square expects adjusted earnings per share for the fourth quarter to be between $0.12 and $0.13, which is less than expected. Financial information provider FactSet survey shows thatAnalystEarlier, Square expects fourth quarter earnings per share to reach $0.15. Square fell nearly 5% before the market.

When answering a reporter's question at the Lisbon Network Summit, Margrethe Vestager, head of the European antitrust agency, said the agency had completed a “very preliminary investigation” of Apple but did not find it. There is a monopolistic behavior. Vastag had previously ordered a fine of 13 billion euros for Apple because Apple used the Irish tax law to reduce corporate taxes. This is the biggest fine in tax history.

According to reports, the UK privacy regulator has asked Facebook to investigate data protection issues on its advertising platforms at the EU's leading regulators, including how the platform can be used to locate and disseminate false advertisements in an attempt to manipulate voters. Facebook's international headquarters is located in Ireland, so its main regulator is the Irish Data Protection Council (IDPC). In a report submitted to the British Parliament yesterday, the British Information Council (ICO) updated its long-term investigation into the use of the Facebook platform in campaigns.

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                (Editor: DF353)

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