On Wednesday, the US stock turnover champion Tesla closed up 1.25%, with a turnover of 18.647 billion US dollars; the second Chinese concept stock Ali rose 14.67%, with a turnover of 10.709 billion US dollars; the third American supermicro company closed down 3.21%, with a turnover of 10.044 billion Dollar.
In the early morning of the 9th, Beijing time, U.S. stocks closed down on Wednesday. Credit Suisse issued an earnings warning, making investors worried about slowing U.S. economic growth. The World Bank and the OECD have successively lowered their forecasts for global economic growth. The IMF warned that U.S. inflation may remain above the Fed’s target for a long time, raising the risk of unanchored inflation expectations.
The Dow fell 269.24 points, or 0.81%, to 32,910.90 points; the Nasdaq fell 88.96 points, or 0.73%, to 12,086.27 points; the S&P 500 fell 44.91 points, or 1.08%, to 4,115.77 points.
Credit Suisse on Wednesday warned of a possible loss in the second quarter, adding to worries about slowing U.S. economic growth. The bank is likely to post a loss in the second quarter due to heightened market volatility, fewer clients and continued client deleveraging due to the war in Ukraine and tightening monetary policy, the company said.
The U.S. economy is expected to grow just 0.9% in the second quarter, down from 1.3% last forecast, the Atlanta Fed’s GDPNow tracker showed on Wednesday.
IMF chief economist Gopinath said on Wednesday that according to current forecasts, U.S. inflation may remain above the Fed’s target for a long time, and there is a risk that inflation expectations will be de-anchored. He said it would be a challenge to bring inflation back to the Fed’s target without causing turmoil.
U.S. stock market turnover champion Tesla closed up 1.25 percent on Wednesday at $18.647 billion. After a weeks-long standoff, Twitter’s board plans to comply with Musk’s demands to provide access to its entire “Firehouse” database, a stream of more than 500 million tweets posted daily, according to reports.
Musk had previously made it conditional on terminating a $44 billion acquisition agreement that required Twitter to provide spam and fake account data and allow him to conduct an independent assessment.
Twitter’s chief lawyer told employees in an internal meeting that once the SEC approves the proxy statement, the company will vote on Musk’s acquisition of Twitter. It is expected that shareholders may vote at the end of July and early August, and the company supports the SEC Submitted documents and methods of counting spam. Twitter told employees that when Musk completed the Twitter acquisition, the remote working model for Twitter employees was no longer protected.
Chinese concept stocks generally rose sharply on Wednesday, with the Nasdaq Golden Dragon China Index closing up 5.71%. Alibaba, the second largest Chinese stock market in terms of US stock turnover, rose 14.67%, with a turnover of 10.709 billion US dollars. The 15th Chinese concept stock Pinduoduo closed up 9.73%, with a turnover of 1.82 billion US dollars. The 17th Chinese concept stock JD.com closed up 7.66% with a turnover of US$1.5 billion.
The No. 3 American Supermicro Corporation closed down 3.21%, with a turnover of 10.044 billion US dollars. AMD China Weibo posted on June 6 that its EPYC series processors empower NIO’s HPC platform. On Wednesday, Ma Lin, NIO’s senior director of corporate communications, forwarded the Weibo and said, “NIO has not cooperated with AMD, has not discussed cooperation at present, and has not authorized AMD to carry out this communication. AMD’s move is very regrettable. After negotiation , AMD only deleted the news on the official website, and the Weibo marketing campaign still exists. Please AMD delete this Weibo.”
No. 5 Amazon closed down 1.48%, with a turnover of $7.919 billion. According to reports, Amazon’s US station will increase logistics remote delivery fees starting June 30.
No. 11 Roku closed up 9.06 percent with $2.843 billion. The company reportedly “suddenly” closed the trading window for all employees, preventing employees from selling immediate stock. There have been rumors that Roku has been discussing the possibility of a merger with Netflix in recent weeks.
But analysts were quick to argue that Netflix was unlikely to buy the streaming TV platform company. LightShed Partners analyst Rich Greenfield believes that Netflix’s acquisition of a hardware company is “the opposite” of the company’s long-term strategy. “This is one of the most ridiculous things I’ve heard in the 27 years I’ve been following media stocks,” Greenfield said. “It seems like a complete departure from everything Netflix management has built over the past 20 years.”
No. 13 Intel closed down 5.28%, with a turnover of US$2.471 billion. Several analysts slashed their earnings forecasts after Intel executives posted a downbeat new high. The chipmaker’s management appeared to be pessimistic about the quarter, citing a deteriorating macro environment.
Citi analysts reiterated Intel’s “neutral” rating, lowered the price target to $45, and lowered 2022 sales and EPS forecasts to $71.9 billion and $2.33, respectively, down from $74.4 billion and $2.63 per share previously , but the bank maintained its forecast for 2023 and 2024. Citi said it expects Intel’s second-quarter guidance to be “absent” after comments from Intel management suggested “this quarter was worse than expected.”
Altria, the 17th tobacco manufacturer, closed down 8.37%, with a turnover of $1.599 billion. Tianfeng Securities Research Report pointed out that Altria’s traditional tobacco shipments are on a downward trend. Morgan Stanley expects more pressure from rising gasoline prices and deteriorating consumer sentiment to weigh on cigarette sales and increase downside risks to the stock. The bank downgraded Altria to underweight from hold and lowered its price target to $50 from $54.
The following are the 20 most actively traded stocks on the U.S. stock market that day (by turnover):
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