23 Dec 2022

• Last night, the three major U.S. stock indexes fell across the board, and popular Chinese concept stocks generally fell. As of the close, the Dow fell 1.04%, the Nasdaq fell 2.18%, and the S&P fell 1.40%. The yield on the 10-year U.S. Treasury bond rose 0.491% to close at 3.682%, a difference of -59 basis points compared to the yield on the two-year Treasury bond. The panic index VIX rose 9.47%. Brent crude oil closed down 0.40%. Spot gold closed down 1.21% at $1,792.63 an ounce. The U.S. dollar index remained high, closing at 104.57.
• The final value of the annualized quarterly rate of actual GDP in the third quarter of the United States was 3.2%, expected 2.90%, and the previous value was 2.90%. Analysts said that the splitting of the GDP data in the third quarter will find that net exports contributed the most to growth. In addition, residential housing Investment and inventories were a drag. In the United States, the number of initial jobless claims for the week ending December 17 was 216,000, compared with 222,000 expected and 211,000 previously. The number of Americans filing new claims for unemployment benefits was little changed and remained near record lows, underscoring companies' reluctance to lay off workers in a supply-constrained labor market that analysts said would be a red flag for the labor market. In the third quarter of the United States, the annualized quarterly rate of the core PCE price index was 4.7%, expected to be 4.60%, and the previous value was 4.60%. In the third quarter of the United States, the real personal consumption expenditure quarter rate was 2.3%, expected 1.7%, and the previous value was 1.7%. According to US media FOX 5, a report released by the US Bureau of Economic Analysis showed that the US personal savings rate in October was 2.3%, which was close to the historical low of 2.1% in July 2005.
• Markets have ramped up bets that the European Central Bank will raise interest rates next year, with rates expected to peak at 3.5 percent next year. European Central Bank Governing Council Stunaras said the deposit rate may reach 3% in March next year. Turkey's central bank kept the one-week repurchase rate at 9.00%, in line with market expectations.
• On the 22nd local time, Russian President Vladimir Putin signed an order authorizing the Russian Federation government to issue temporary licenses for transactions with companies and individuals subject to Russian sanctions. Exports of Russia's Urals blend crude may fall by as much as five percent in December from 6 million tonnes in November, after Western oil price caps and an EU embargo on Russian oil came into force, according to traders and Reuters calculations. One-third, and may even drop to 4.7 million tons. Revenue from the kingdom's exports of products such as crude oil and diesel fell to $25.5 billion in October, the lowest figure since February, the Saudi Statistics Authority said on Thursday.
• Apple fell 2.38%. Some media recently pointed out two major problems in Apple CarPlay: the lack of follow-up by car manufacturers and the poor quality of applications. The agency said that in Q3, Apple monopolizes more than half of the global 5G mobile phone revenue.
• Microsoft fell 2.55%. Microsoft plans to acquire streaming media giant Netflix in 2023.
• Google fell 2.20%. Alphabet, Google's parent company, once again granted CEO Pichai an equity incentive, but it was further linked to performance. For the first time since 2014, Google and Meta together account for less than 50% of digital ad revenue, the agency said.
• Amazon fell 3.43%. Amazon was warned by the European Court of Justice for alleged trademark infringement. Amazon's stock price continued to fall amidst lawsuits, and its market value shrank to a three-and-a-half-year low.
• Tesla fell 8.88%. Tesla has launched a "price war" in the United States. It has started multiple rounds of price cuts, and the discount has doubled to $7,500.

Sources from: Investing.com; Reuters.com

Louis Yap

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