Dow Jones Industrial Average Rose More than 400 Points or 1.2%
After the Federal Reserve (Fed) issued an interest rate decision in line with expectations, market risk sentiment rose, and US stocks opened sharply on Thursday (23rd). Before the deadline, the Dow Jones Industrial Average rose more than 400 points or 1.2%, the Nasdaq Composite Index rose 0.7%, the S&P 500 Index rose 1%, and fees rose 0.95%. The latest earnings report of BlackBerry (BB-US) beat expectations and surged more than 10% after the opening.
The Fed said on Wednesday that it would start reducing debt purchases as soon as November, in line with market expectations. Fed Chairman Jerome Powell reiterated that US inflation has reached the target set by the central bank, and the good September non-agricultural report is sufficient to prove that the Fed will achieve its goal of launching a debt reduction plan.
At this FOMC meeting, more FOMC members are expected to raise interest rates in advance. Among the 18 FOMC members, half of them expect the central bank to raise interest rates for the first time at least before the end of 2022.
In terms of economic data, the United States unexpectedly saw a slight increase in unemployment benefits at the beginning of last week to 351,000, and the number of renewed unemployment benefits also increased by more than 100,000 to nearly 2.85 million. Later IHS Markit will announce the initial value of the purchasing managers’ index (PMI) of the US manufacturing and service industries in September.
Before the press deadline, the 10-year global U.S. bond yield rose to 1.364%, and the U.S. Treasury bond price fell. The hawkish news of the European Central Bank led the US dollar to fall from its high level. The Norges Bank announced a one-yard rate hike earlier, which was the first case of a G10 central bank.
According to individual stock news, BlackBerry rose 10%. The company announced that its latest earnings report was better than Wall Street expectations. Although Apple admitted that the new privacy regulations of Apple iOS 14 had a significant impact on advertising revenue, Facebook (FB-US) opened slightly; Salesforce (CRM- US) rose more than 3% after raising its full-year revenue outlook.
As of 21 o’clock on Thursday (23rd) Taipei time:
The Dow Jones Industrial Average rose by 413.33 points or 1.21%, temporarily reporting 34671.65 points
The Nasdaq Composite Index rose 105.67 points, or 0.71%, to 1,5002.75 points temporarily
The S&P 500 Index rose 43.89 points or 1.00%, temporarily reporting 4439.53 points
Fees and a half rose by 32.56 points or 0.95%, and temporarily reported 3444.72 points
TSMC ADR rose 0.07% to $115.95 per share
The 10-year U.S. Treasury yield rose to 1.364%
New York light crude oil rose 0.01% to US$72.24 per barrel
Brent crude oil fell 0.09% to US$76.12 per barrel
Gold fell 1.28% to US$1756.00 per ounce
The dollar index fell to 93.16