U.S. stocks rebounded last Friday, with the Dow Jones hitting a new high and closing nearly 350 points, while the S&P 500 and Nasdaq both fell. The market is waiting and watching the inflation data this week and the performance of major stocks such as Nvidia. The cryptocurrency rebound last week has also dispersed, with Bitcoin falling below the $110,000 level. There has been no progress in the Russian-Ukrainian peace talks, and oil prices have risen by nearly 2%.
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Market conditions on August 25 (Monday)
l The Dow Jones Index fell 349.27 points or 0.77% to 45,282.47 points.
l The S&P 500 fell 27.59 points or 0.43% to 6,439.32 points.
l The Nasdaq index fell 47.24 points or 0.22%, to 21,449.29 points.
l New York’s October oil futures closed at $64.80 a barrel, up $1.14 or 1.8%.
l New York’s December gold futures closed at 3,417.5 yuan per ounce, down $1.0 or less than 0.1%.
l Bitcoin was $109,594.30 as of 5 p.m. EST, up $3,110.99 or 2.76%.
l The U.S. 10-year Treasury bond interest ratio closed at 4.275%, up 1.5 points.
Technology stocks have developed individually, with Nvidia, which announced its performance on Wednesday, rising 1%, Alphabet and Netflix, rising 1%, Tesla, and Apple, Microsoft, and Meta being soft.
Guggenheim said the self-driving ride-hailing service (Robotaxi) plans are full of doubts, including the launch will take time, costly and risky, which will bring huge cash consumption, technical barriers and regulatory risks. The bank expects its share price to fall 45%, reaffirming its “sell” rating and a target price of $175. He believes that Robotaxi’s
Pharmaceutical stocks were under pressure, with Eli Lilly, Pfizer and Merck falling more than 2%. After U.S. President Trump threatened to impose additional tariffs on furniture imports, the stock prices of relevant importers fell, RH fell 5.3%, Wayfair fell 5.9%, and Williams-Sonoma fell 2.7%.
Keurig Dr Pepper bought JDE Peet’s for about $18 billion, with the former falling 11% and the latter rising 17%.
Federal Reserve Chairman Powell hinted last week that interest rates could be cut, driving stock market rebounds, but some investors said “instant excitement” has faded; some worry that tariffs will boost inflation in the coming months, making the boost from September’s rate cuts fleeting.
“The market’s tariffs that Powell calls are mainly one-time price hikes. There is still a lack of confidence in whether this will happen,” Louis Navellier, chief investment director of Navellier & Associates, wrote in a lawsuit.
Originally, Wall Street’s weakest US stock market, Furui significantly raised its target price from 5,600 points to 6,600 points. The bank said strong corporate earnings performance and market concerns about the health of the U.S. economy have eased.
New home sales in the United States exceeded expectations in July, with an annual rate of 652,000 units, with the strongest demand in the western region, and the data for the previous month was also revised upward. Despite higher-than-expected sales, the new home market is increasingly relying on price cuts and preferential measures to attract buyers due to high mortgage rates.
