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Global economic growth slows worries, US stocks fall, the Dow fell more than 200 points
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Financial sector US stocks news Beijing time on February 8th news, investors continue to pay attention to the development of financial reports and international trade disputes, while the EU's economic growth expectations have increased the market's concerns about the global economic slowdown, US stocks fell sharply, the Dow It once fell nearly 400 points. Twitter guidance and operating expenses were down 11% in intraday trading.
As of the close, the S&P 500 closed down 25.56 points, or 0.94%, to 2706.05 points. The Dow Jones Industrial Average closed down 220.77 points, down 0.87% to 25169.53 points, while the Nasdaq Composite Index closed down 86.93 points, down 1.18% to 7288.35 points.
On Wednesday, US President Trump said in his State of the Union address that he will continue to push for controversial policies such as strengthening border control, while claiming to seek cross-party cooperation and break the political deadlock brought about by party struggle to suppress market confidence. US stocks are under pressure. Down, the S&P ended the five-day trend. The S&P 500 closed down 6.09 points, or 0.22%, to 2731.61 points. The Dow Jones Industrial Average closed down 21.22 points, or 0.08%, to 25,390.30. The Nasdaq Composite Index closed down 26.80 points, or 0.36%, to 7737.28 points.
Market driving force
US stocks are under pressure as concerns about the global economic slowdown and international trade disputes.
Federal Reserve Chairman Jerome Powell said on Wednesday night that his goal is to get the central bank to win public trust. Prior to this, Powell had dinner with President Trump on Monday, and the matter was criticized by the public. Some believe that the Fed’s swift and unexpected turn to a moderate stance shows that the White House has affected the Fed’s monetary policy.
The weak European economic data and the EU's downward adjustment of growth expectations have aggravated the market's concerns about the global economic slowdown. Germany reported on Thursday that industrial output fell by 0.4% in December, indicating that the growth prospects of the largest economy in the euro zone are weak.
In addition, the European Commission lowered the economic growth forecast for the euro zone, downgrading the euro zone's 2019 GDP growth forecast from 1.9% to 1.3%; and reducing the 2020 GDP forecast from 1.7% to 1.6%. The European Commission also lowered the economic growth rate of the EU-27 in 219 from 2% to 1.5%; and lowered the economic growth rate of the EU-27 in 2020 from 1.9% to 1.8%. The European Commission lowered its forecast for German economic growth in 2008 from 1.8% to 1.1%, and cut Italy's economic growth forecast for 2019 by a full percentage point. It is now expected that Italy's minimum annual growth will be only 0.2%.
In addition, the Bank of England also lowered the UK's economic growth expectations. The bank warned that the damage caused by Brexit to the economy is increasing. The Bank of England also expects investment to drop sharply. The Bank of England pointed out that March 29 is the deadline for Brexit, but the UK is still unable to reach a trade agreement with the EU. The Bank of England said that due to the "uncertainty increase" consideration, the UK's GDP growth forecast for this year was lowered from 1.7% predicted three months ago to 1.2%.
The issue of the US border wall is still receiving much attention. Nancy Pelosi, Speaker of the US House of Representatives, said earlier that the two parties only reached an agreement before this weekend to pass the new appropriation bill when the expiry funds bill expires on February 15. In fact, the stalemate in the US-Mexico border wall allocation has been the focus of this government spending bill debate.
The US Department of Labor announced that the number of US initial jobless claims for the week ending February 2 was 234,000, with an expected 221,000. As of January 26, the number of jobless claims for the week was 1.736 million, with an expected 1.73 million.
St. Louis Fed President James Bullard will speak on Thursday night. Brad is a voting committee member of the Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy decision-making body.
Naeem Aslam, chief market analyst at ThinkMarkets FX, said: "US stocks continued to fall on Thursday, causing the decline in US stocks to continue yesterday. Among the S&P 500 constituent stocks, 288 stocks rose yesterday, 213 fell, and short positions won. ”
Naeem Aslam also pointed out that although the US stock market has recorded a strong rise since 2019, "but the market turnover is sluggish. The 200-day moving average of the S&P 500 index has become an insurmountable resistance level, and it seems that the bulls are losing momentum."
Sam Stovall, chief investment strategist at CFRA Research, said: "The most important factor affecting the market today is the concern about international trade disputes. If the international trade relationship is booming in the near future, US stocks will also be dragged down."
Fiat Chrysler fell 12.25%, the company announced a disappointing 2019 guide; Visteon fell more than 5%, Ford and China stocks were all over 4%, and GM and Tesla fell more than 3%. Toyota in the US fell more than 2%, Ferrari and Honda fell nearly 2%.
Twitter fell 9.84% after the company reported earnings; Facebook, Netflix, Oracle fell more than 2%, Apple fell 1.89%, Amazon, Alphabet fell more than 1.5%. Among chip stocks, Micron Technology fell more than 5%, and Western Digital fell more than 4%.
Chinese concept stocks closed mostly lower on Thursday.Baidu(US stocks BIDU) fell 1.31% to close at $171.58.Alibaba(US stock BABA) fell 2.66% to close at 166.96 US dollars,Jingdong(US stock JD) fell 4.50% to close at 23.98 US dollars;UT Starcom(US stocks UTSI) rose 1.96% to close at 3.65 US dollars, Ctrip fell 5.31% to close at 32.10 US dollars,Phoenix New Media(US stocks FENG) fell 5.32% to close at 3.38 US dollars, the fight fell 5.32% to close at 26.51 US dollars, 5.6 fell 5.66% to close at 17.18 US dollars, iQiyi fell 6.06% to close at 20.00 US dollars,Sohu(US stock SOHU) fell 6.18% to close at 21.09 US dollars, Baozun e-commerce fell 6.21% to close at 34.11 US dollars,Blue dragonfly(US stock CCIH) fell 6.67% to close at $1.12, fluently said to fall 6.81% to close at $11.63.
SunTrust Banks (STI) and BB&T (BB) announced that they will be combined in a fully convertible manner with a value of approximately $66 billion. Calculated by asset and deposit size, the transaction will give birth to the sixth largest bank in the United States.
Shares in the restaurant chain Chipotle Mexican Grill (CMG) rose sharply. The company reported on Wednesday evening that the adjusted quarterly earnings exceeded expectations.
Twitter (TWTR) shares fell sharply by 9.8%. The company announced a pessimistic forecast for the quarter and announced that it would stop reporting monthly average user metrics.
Spectrum Brands Holdings (SPB) shares fell, the company announced a net loss for the quarter ended December 30.
Cardinal Health (CAH) shares climbed after the company raised its 2019 full-year performance target.
Recently, he has submitted a follow-up issuance plan to the US Securities and Exchange Commission (SEC) and disclosed some of the operational data for FY 2018. The announcement shows that this follow-up issuance consists of two parts: the original shareholder's sale and the new share issue. A lot of founding teams, management and employees will continue to fulfill the previous “three-year lock-in” commitment, not on the list of shares. According to the data of the 2018 Fighting Multi-Consumer Protection of Rights and Interests Annual Report, 2018, through the strict big data risk control system and manual inspection, the company actively shut down more than 60,000 suspected illegal and illegal shops.
According to foreign media reports, Softbank President Sun Zheng said that the reason why the Alibaba stock was not sold is because he believes that the company still has great growth potential. At the same time, the Softbank Vision Fund sold all of NVIDIA (NASDAD: NVDA) shares in January. The value of these shares was 398 billion yen at the end of December. The company is currently evaluating the impact on earnings.
CCTV Spring Festival Evening penetrated the sinking market Baidu App lived over 300 million users statistics show that on New Year's Eve, Baidu accumulatively distributed a huge amount of red packets worth 900 million yuan, Baidu APP "shake" to lead the national collective to open "vibration mode", all There were 20.8 billion interactions in the field, adding a joy and luck to their respective New Years. At the same time, 20.8 billion interactions made Baidu App's daily activity directly from the 160 million to the 300 million mark. According to incomplete statistics, Baidu has harvested many new users from the New Year's Eve night of the national carnival.
WeiboRecently, the data on the Spring Festival related activities up to New Year's Eve have been released. During the New Year's Eve and the Spring Festival Gala on February 4, the number of active users of Weibo reached 234 million, rising for three consecutive years. During the Spring Festival Evening broadcast, more than 100 million pieces of Spring Festival Evening were discussed on Weibo, and the number of netizens interacting exceeded 300 million. #春晚# The topic has a new reading volume of 8 billion, and the short video broadcast of the Spring Festival Evening on New Year's Eve is 1.69 billion.
Japanese stocks closed lower on Thursday, and the Nikkei 225 index closed down 0.6%. Mainland China and Hong Kong stock markets are closed for the Lunar New Year holiday.
European stock markets were lower due to the European Commission's downward revision of growth expectations. The UK's FTSE 100 index closed down 1.09%, the German DAX index closed down 2.66%, the French CAC index closed down 1.84%, and the Spanish IBEX index closed down 1.75%.
Gold futures for April delivery on the New York Mercantile Exchange fell 20 cents to close at $1314.20 an ounce. So far, the price of gold has fallen for the fifth consecutive trading day, the longest consecutive decline in about 20 months.
West Texas Intermediate (WTI) futures for March delivery on the New York Mercantile Exchange fell $1.37, or 2.5%, to close at $52.64 per barrel, the lowest closing price since January 28.
The US dollar index rose 0.13% to 96.5400. EUR/USD fell 0.15% to 1.1344. GBP/USD rose 0.13% to 1.2951. USD/JPY fell 0.14% to 109.8300.
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