2023.10.24 Light short position
The three major stock indexes rose and fell, with the Nasdaq up nearly 0.3%;
*International oil prices fell more than 2%;
*The number of strikes in US auto companies expanded to 40,000.
U.S. stocks fluctuated sharply on Monday, with the 10-year U.S. Treasury yield falling after hitting 5%, as investors continued to pay attention to the earnings season and the development of the situation in the Middle East. As of the close, the Dow fell 0.58% to 32,936.41 points, the Nasdaq rose 0.27% to 13,018.33 points, and the S&P 500 fell 0.17% to 4,217.04 points.
The sharp rise in yields has plagued the stock market since the S&P 500 hit its 2023 high in late July. Joshua Mahony, chief market analyst at Scope Markets, said: "With interest rates expected to remain high for some time, the U.S. Treasury will also face rapidly expanding debt, which questions whether U.S. bonds are really the reliable safe haven that people have always believed." Oliver Pursche, senior vice president of Wealthspire Advisors in New York, believes that the market is still digesting expectations for the federal funds rate, and to some extent, investors have accepted the idea that the Fed will not cut interest rates in the short term. Michael Wilson, chief equity strategist at Morgan Stanley, believes that the possibility of a rebound in the U.S. stock market at the end of the year is weakening because investors face many risks such as overly high earnings expectations and tightening policies by the Federal Reserve. The strategist's year-end target for the S&P 500 is 3,900 points, nearly 8% lower than the current level. In terms of individual stocks, the energy industry ushered in another large-scale merger and acquisition transaction. Oil giant Chevron will acquire its peer Hess in an all-stock transaction of US$53 billion. The company's stock price closed down 3.7%. Walgreens, a chain drugstore operator, rose 3.3%, and JPMorgan Chase upgraded its rating to "overweight". Apple rose 0.1%. It was reported that the company will invest $1 billion a year to develop generative AI to catch up with Google and Microsoft. Amazon rose 1.1%, Google and Microsoft rose 0.9%.
Stellantis rose 0.3%. The United Automobile Workers Union (UAW) announced that it would expand the strike to a pickup truck factory near Detroit. A total of about 6,800 employees began to strike that day. The number of strikers in US auto companies has now expanded to 40,000.
Most of the popular Chinese stocks rose. Xiaopeng Motors rose nearly 4%, Ideal Auto and Tencent Music rose more than 2%, JD.com, Bilibili, and Pinduoduo rose more than 1%.
International oil prices weakened, and Hamas released Israelis to temporarily ease regional tensions.
Technical side
Daily line: This reached the 36,000 line and quickly fell back. During this period, observe the 31,500 support and 36,000 pressure levels
Four hours: Small position 34,500 to take a short position, short-term wave
15 minutes: Trading
Operation plan: 34,500 small position short, new high stop loss
#BTC
The three major stock indexes rose and fell, with the Nasdaq up nearly 0.3%;
*International oil prices fell more than 2%;
*The number of strikes in US auto companies expanded to 40,000.
U.S. stocks fluctuated sharply on Monday, with the 10-year U.S. Treasury yield falling after hitting 5%, as investors continued to pay attention to the earnings season and the development of the situation in the Middle East. As of the close, the Dow fell 0.58% to 32,936.41 points, the Nasdaq rose 0.27% to 13,018.33 points, and the S&P 500 fell 0.17% to 4,217.04 points.
The sharp rise in yields has plagued the stock market since the S&P 500 hit its 2023 high in late July. Joshua Mahony, chief market analyst at Scope Markets, said: "With interest rates expected to remain high for some time, the U.S. Treasury will also face rapidly expanding debt, which questions whether U.S. bonds are really the reliable safe haven that people have always believed." Oliver Pursche, senior vice president of Wealthspire Advisors in New York, believes that the market is still digesting expectations for the federal funds rate, and to some extent, investors have accepted the idea that the Fed will not cut interest rates in the short term. Michael Wilson, chief equity strategist at Morgan Stanley, believes that the possibility of a rebound in the U.S. stock market at the end of the year is weakening because investors face many risks such as overly high earnings expectations and tightening policies by the Federal Reserve. The strategist's year-end target for the S&P 500 is 3,900 points, nearly 8% lower than the current level. In terms of individual stocks, the energy industry ushered in another large-scale merger and acquisition transaction. Oil giant Chevron will acquire its peer Hess in an all-stock transaction of US$53 billion. The company's stock price closed down 3.7%. Walgreens, a chain drugstore operator, rose 3.3%, and JPMorgan Chase upgraded its rating to "overweight". Apple rose 0.1%. It was reported that the company will invest $1 billion a year to develop generative AI to catch up with Google and Microsoft. Amazon rose 1.1%, Google and Microsoft rose 0.9%.
Stellantis rose 0.3%. The United Automobile Workers Union (UAW) announced that it would expand the strike to a pickup truck factory near Detroit. A total of about 6,800 employees began to strike that day. The number of strikers in US auto companies has now expanded to 40,000.
Most of the popular Chinese stocks rose. Xiaopeng Motors rose nearly 4%, Ideal Auto and Tencent Music rose more than 2%, JD.com, Bilibili, and Pinduoduo rose more than 1%.
International oil prices weakened, and Hamas released Israelis to temporarily ease regional tensions.
Technical side
Daily line: This reached the 36,000 line and quickly fell back. During this period, observe the 31,500 support and 36,000 pressure levels
Four hours: Small position 34,500 to take a short position, short-term wave
15 minutes: Trading
Operation plan: 34,500 small position short, new high stop loss
#BTC