On Thursday, November 30th Eastern Time, pre market economic data showed a cooling of inflation, but Federal Reserve officials poured cold water on expectations of interest rate cuts, causing the three major US indices to fluctuate.
Tesla big news! Starting at $60990, the electric pickup truck Cybertruck is ready for delivery!
Software giant Saifu Shi's performance is impressive, with a surge of over 9%.
Federal Reserve officials pour cold water on expectations of interest rate cuts
The three major US indices have mixed ups and downs
On Thursday, November 30th, Eastern Time, the annual rate of the core PCE price index, the most favored inflation indicator by the Federal Reserve, announced before the trading session, decreased from 3.7% to 3.5%, increasing market expectations that the Federal Reserve may start cutting interest rates next year. New York Fed Chairman Williams also hinted that "interest rate hikes have ended", and the market is predicting that interest rate cuts will come next year.
However, Federal Reserve official Daley stated that it is still too early to determine whether the Fed has ended interest rate hikes. At present, there is no consideration of lowering interest rates. Next, preparations need to be made, either by raising interest rates again when necessary, or by announcing the end of the tightening cycle when appropriate. The economy needs to cool down a bit further. Even if the interest rate hike ends, the Federal Reserve can continue to shrink its balance sheet. The stagnation of inflation progress and further interest rate hikes are not the basic situation for the Federal Reserve.
US Treasury Secretary Yellen said that the Federal Reserve can curb inflation without triggering a recession; The signs indicate that the United States will achieve a good soft landing; The labor market has basically reached full employment, and the economy is still continuing to grow; I do not believe that further aggressive monetary policy tightening measures are needed. US President Biden said that we still have more work to do on the issue of inflation.
As of the close, the three major US indices have fluctuated. The S&P 500 index rose 0.38% to 4567.80 points; The Nasdaq Composite Index fell 0.23% to close at 14226.22 points. The Dow Jones Industrial Average rose 1.47% to close at 35950.89 points, the highest level since January 2022.
On a monthly basis, the S&P 500 index rose 8.6% in November, while the Nasdaq index rose 11%. Both indices are tracking their best monthly performance since July 2022. The Dow Jones rose 7.8% in November.
According to Hong Kong's Wanda News Agency, Chief Global Strategist at Freedom Capital Markets, this interest rate hike cycle has been completed. We have made up for the losses and are now starting to build the foundation for the market to heat up by the end of 2021. The price trend is positive. Economic data supports the Federal Reserve to continue maintaining interest rates and potentially lowering them, which is a huge boost.
Tesla Big News
Electric pickup truck Cybertruck is ready for delivery!
On Thursday, November 30th Eastern Time, Tesla's electric pickup truck Cybertruck began its first batch of deliveries at Tesla's Texas super factory. This product is inspired by the cyberpunk style of Blade Runner.
According to Tesla's official website, the starting price of the electric pickup truck Cybertruck is $60990 without discounts, and $49890 with discounts. In addition, the starting price of the Cyberbeat version is $99990, and the discounted price is $96390, which will be delivered in 2024. The three CyberTruck models are expected to have a range of 250-340 miles (approximately 402-547 kilometers). The cheapest model will be launched in 2025.
(Tesla Delivery Ceremony Source: Tesla Official Website Live)
(Source: Tesla website)
In terms of market reaction, Tesla's US stock closed down 1.66%, and the post market decline in its stock price expanded to 2.7%. Analysts are concerned that Cybertruck may be too expensive or blur the buyer base, and electric pickup trucks are no longer a non competitive blue ocean. Mass production may pose challenges.
Software giant Saifushi's performance is impressive, with a surge of over 9%
On Thursday, November 30th Eastern Time, software giant Saffron's performance was impressive, with a closing surge of over 9% to $251.9, and its latest total market value was $245.099 billion.
On the news side, the company's Q3 revenue for fiscal year 2024 was $8.72 billion, a year-on-year increase of 11.2%, slightly better than the market's expected $8.714 billion; The net profit was 1.224 billion US dollars, a nearly 5-fold increase year-on-year, exceeding market expectations of 1.037 billion US dollars.
As of the end of the quarter, the remaining fulfillment value reached $48.3 billion, a year-on-year increase of 21%. The company's expected Q4 revenue is 9.18 billion to 9.23 billion US dollars, a year-on-year increase of about 10%, and the market forecast is 9.2 billion US dollars; Diluted earnings per share range from $1.26 to $1.27. (Edited by Ivan)
