금일 morning brief 간단히 봐 봅니다.
1.S&P500 begins Q2 in red as spiking Treasury yields blunt bulls
미 증시는 연준의 금리인하에 대한 투자자들의 기대가 냉각된 후, 국채 수익률의 급등으로 이어지면서, 2분기를 시작함
- S&P 500 : fell 0.3%
- NASDAQ Composite gained 0.1%
- Dow Jones Industrial Average was down 240 points, or 0.6%.
2. Treasury yields rise as manufacturing activity unexpectedly expands
- 2년물 국채가 9 포인트 jump
- 제조업 지수가 47.8 -> 50.3 으로 기대 이상으로 상승
: 제조업 지수는 50 이상이면, 제조업 팽창을 의미하며, 이는 22년 9월이후 처음임
- 인플레이션 게이지도 52.5 -> 55.8로 jump, " raw material prices rose at their fastest pace since July 2022"
3. Microsoft continues to ride AI wave, Alphabet shines on Jefferies backing; Micron in rally mode
- MS가 거의 1% 상승했습니다. Chat과 Video app을 제공하는 Teams를 별도 제품으로 구분하여 제공한다는 소식이 있네요
- 구글은 " AI threat" 으로 투자자들이 걱정을 하고 있다고 합니다. 그 이유로는 광고와 cloud 사업에서 아마존에 뒤쳐지고 있다고 투자자들이 걱정한다는 소식입니다.
- Micron Technology Inc (NASDAQ:MU) rallied more than 5% 했습니다. AI revolution에 따라 chipmaker들의 수요가 더 기대된다고 합니다. 금일자 한국의 chipmaker들을 눈여겨 봐야겠습니다.
Stock Market Today: S&P500 begins Q2 in red as spiking Treasury yields blunt bulls
The S&P 500 started the second-quarter on the back foot Monday as surging Treasury yields kept bullish bets at bay after a surprise expansion in manufactory activity underscored the strength in the economy and cooled investor expectations for sooner rather than later Federal Reserve rate cuts.
At 16:00 ET (21:00 GMT), the S&P 500 fell 0.3%, the NASDAQ Composite gained 0.1%, and the Dow Jones Industrial Average was down 240 points, or 0.6%.
Treasury yields rise as manufacturing activity unexpectedly expands
The yield on the 2-year Treasury, which is sensitive to Fed policy, jumped 9 basis points to 4.712% after the ISM manufacturing purchasing managers' Index unexpectedly rose to a reading of 50.3 from 47.8. The index reading pushed above 50, which indicates an expansion in manufacturing, for the first time since Sept. 2022.
The prices paid component of the index, a gauge of inflation, jumped to 55.8 from 52.5, signalling "raw material prices rose at their fastest pace since July 2022," Oxford Economics.
The data supported Fed chairman Powell message on Friday that the Fed doesn't need to rush to cut rates amid signs of a strong economy.
"We don’t need to be in a hurry to cut," Powell said Friday at a San Francisco Fed event. “The fact that the U.S. economy is growing at such a solid pace, the fact that the labor market is still very, very strong, gives us the chance to just be a little more confident about inflation coming down before we take the important step of cutting rates.”
The odds of a June cut were not seen at 56% from 64% last week, according to Investing.com's Fed Rate Monitor Tool.
Microsoft continues to ride AI wave, Alphabet shines on Jefferies backing; Micron in rally mode
Microsoft (NASDAQ:MSFT) rose nearly 1% as the tech giant plans to begin offering its chat and video app, Teams, as a standalone product, separating it from its Office suite on a global scale, Reuters reported on Monday.
It comes six months after the tech giant initiated a similar separation in Europe, responding to regulatory scrutiny over its product bundling practices.
Alphabet Inc Class A (NASDAQ:GOOGL), meanwhile, closed 3% higher after Jefferies touted optimism on the stock amid expectations that the company is likely to address several investor concerns including the "AI threat," to its advertising business and cloud revenue that has lagged rival Amazon (NASDAQ:AMZN)'s AWS.
Alphabet's Google also agreed to amend to its disclosures related to private, or "incognito," browsing data to settle a part of a lawsuit that alleged the company collected users' data without consent.
In chip stocks, meanwhile, Micron Technology Inc (NASDAQ:MU) rallied more than 5% after Bank of America hiked its price on the chipmaker to on expectations for a surge in demand for memory chips to feed the AI revolution.
AT&T (NYSE:T) in data leak woes; Tesla price Model Y price hike kicks off; Trump Media slumps on annual loss
Tesla (NASDAQ:TSLA) $1,000 price hike for all its Model Y variants in the United States took effect on Monday. The price hikes come amid waning demand and strong competition in China.
The announcement comes as the electric-vehicle maker is expected to report weak quarterly sales as early as Tuesday amid rising competition from cheaper rivals like China’s BYD (SZ:002594).
Trump Media & Technology Group Corp (NASDAQ:DJT) fell 21% after reporting a net loss of $58.2 million compared with a profit of $50.52M a year earlier.
AT&T Inc (NYSE:T) fell 0.6% after confirmed that data on about 73 million current and former customers may have been leaked on the dark web.