On September 23rd local time, the three major US stock indexes fluctuated and rose after opening. As of the close, the Dow Jones Industrial Average rose 0.15%, the Nasdaq rose 0.14%, and the S&P 500 index rose 0.28%. Both the Dow Jones Industrial Average and the S&P 500 index reached historic highs.
Large tech stocks have fluctuated, with Amazon rising over 1%, Netflix and Facebook slightly rising, Google falling over 1%, and Apple and Microsoft slightly falling.
Bank stocks fluctuated, with JPMorgan Chase, Citigroup, and Morgan Stanley rising slightly, Wells Fargo falling more than 2%, and Goldman Sachs and Bank of America falling slightly.
Most airline stocks rose, with Southwest Airlines up over 2%, Boeing up nearly 2%, Delta Air Lines and United Airlines rising slightly, and American Airlines falling slightly.
Chip stocks have generally risen, with Intel up over 3%, Micron Technology up nearly 3%, Broadcom and ASML up over 1%, AMD, TSMC, and Nvidia up slightly, and Qualcomm down over 1%.
Chicago Fed President Austin Goolsby said on the same day that as inflation gradually falls, the Fed should now adopt a more aggressive monetary easing policy. Appropriately focus more attention on another responsibility of the Federal Reserve - considering employment risks, not just inflation. Given the trend of economic conditions, this may mean more interest rate cuts in the coming year.
According to CNBC analysis, traders hope to continue the upward trend after the Federal Reserve cuts interest rates, while remaining vigilant about any economic data that may deter a soft landing.
Despite the recent high in the US stock market, UBS warns that the last quarter of 2024 may not necessarily be smooth sailing. Market sentiment has also been proven fragile, and investors will face a series of challenges in the last quarter of 2024, "Mark Heifer, Chief Investment Officer of Global Wealth Management, wrote in a report on Monday
He suggests investors manage their US election risk exposure, especially in areas such as renewable energy and non essential consumer goods. He added that geopolitical conflicts also pose potential obstacles to the market, so diversification is crucial for investors.
Popular Chinese concept stocks overall rose, with the Nasdaq China Golden Dragon Index up 1.36%. Douyu and Beike both rose by over 7%, Graffiti Intelligence and Dada Group rose by over 6%, Youdao rose by over 5%, Wanguo Data, JD, and Huya Live rose by over 4%, and Autohome, Tencent Music, and Ideal Auto rose by over 3%.
Zhongjin Medical fell over 24%, Miniso fell over 16%, and New Oriental fell over 3%.
On September 23rd, Yonghui Supermarket announced that its shareholders Milk Company, JD World Trade, and Suqian Hanbang plan to transfer their holdings of 1.913 billion shares, 367 million shares, and 387 million shares of the company to Guangdong Juncai International Trading Co., Ltd. through an agreement transfer, accounting for 21.08%, 4.05%, and 4.27% of the company's total share capital, respectively.
The buyer agrees to acquire 29.4% of the issued share capital of Yonghui Supermarket for 6.27 billion yuan, totaling approximately 2.668 billion shares. After the completion of this transaction, the largest shareholder of the company will be changed to Juncai International, holding a total of 29.40% of the company's shares. Juncai International and its implementing company Miniso will join hands with Yonghui Supermarket to transform into a quality retail model.
That evening, Zhang Jingjing, Chief Financial Officer of Miniso, stated in a conference call that after the acquisition of 29.4% equity of Yonghui Supermarket, Miniso is expected to become the largest shareholder of Yonghui Supermarket. However, we do not expect to control a majority of the board of directors, so we will not be the controlling shareholder or actual controller of Yonghui Supermarket, nor will we merge financial statements. This is a judgment made based on the current situation. The transaction is expected to be completed in the first half of 2025, and every important milestone during this period will be disclosed to everyone.
Yonghui Supermarket has been impacted by the decline of the entire supermarket industry in recent years, resulting in poor performance: its net profit declined significantly in 2020, and it suffered consecutive large losses from 2021 to 2023, with a cumulative loss of over 8 billion yuan over three years. In the first half of 2024, although Yonghui Supermarket did not incur any losses, its non recurring net profit was less than 30 million yuan, a significant year-on-year decline of 70%. As of the close on the 23rd, Yonghui Supermarket's latest market value was only 20.4 billion yuan, a decrease of over 80% from its peak of over 100 billion yuan in 2018.
The main European stock indices closed generally higher, with the German DAX index up 0.68%, the UK FTSE 100 index up 0.36%, the French CAC40 index up 0.1%, and the European Stoxx 50 index up 0.29%. According to Reuters analysis, interest rate sensitive industries such as real estate and utilities have risen as weak business activity data strengthens expectations of further monetary policy easing by the European Central Bank this year.
International oil prices have fallen. As of the close of the day, the price of light crude oil futures for November delivery on the New York Mercantile Exchange fell 63 cents, closing at $70.37 per barrel, a decrease of 0.89%; The London Brent crude oil futures price for November delivery fell 59 cents to close at $73.90 per barrel, a decrease of 0.79%.
The price trends of gold and silver have diverged. As of press time, COMEX gold rose 0.22% to $2651.9 per ounce; COMEX silver fell 1.65% to $30.985/ounce.
The US dollar index has risen. The US dollar index, which measures the US dollar against six major currencies, rose 0.13% on the day and closed at 100.851 at the end of the foreign exchange market. As of the end of the New York currency market, 1 euro was exchanged for 1.1116 US dollars, lower than the previous trading day's 1.1165 US dollars; 1 pound to 1.3347 US dollars, higher than the previous trading day's 1.3318 US dollars. 1 US dollar is exchanged for 143.34 Japanese yen, lower than the previous trading day's 143.87 Japanese yen; 1 US dollar is exchanged for 0.8467 Swiss francs, lower than the previous trading day's 0.8503 Swiss francs; 1 US dollar is exchanged for 1.3502 Canadian dollars, lower than the previous trading day's 1.3559 Canadian dollars; 1 US dollar is exchanged for 10.1909 Swedish kronor, higher than the previous trading day's 10.1692 Swedish kronor.
Source public information and market data