Retail sales declined by 3.0% in February… Strong growth stocks
Semiconductor-related industry’rise’
Volkswagen “70% of sales in Europe are produced by electric vehicles
Tesla/Photo = Hankyung DB
Last night, the New York Stock Market closed mixed tax, keeping an eye on the results of the Federal Open Markets Commission (FOMC).
On the 16th (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed at 32,825.95, down 127.51 points (0.39%) from the battlefield. The Standard & Poor’s (S&P) 500 index recorded 3,962.71, down 6.23 points (0.16%) from the battlefield. The Nasdaq Index, which was centered on technology stocks, rose 11.86 points (0.09%) to close at 13,471.57.
The central bank (Fed) will conduct FOMC for two days from this day. The results will be announced the next afternoon, and the market expects the Fed to tighten its monetary easing stance. The volatility of both interest rates and stock prices could increase depending on what kind of diagnosis is made about the recent increase in government bond yields and inflation concerns.
Seo Sang-young, a researcher at Kiwoom Securities, said, “Amid the circulating market ahead of the FOMC, we started rising mainly on growth stocks such as technology stocks, and the slowdown in real economic indicators also led to strong growth stocks.” The enlargement also had an effect,” he said.
Key indicators were less than expected. The Ministry of Commerce announced that retail sales in February fell 3.0% from the previous month. This is worse than the market forecast (a decrease of 0.4%) compiled by The Wall Street Journal, and it can be interpreted that the cold wave and heavy snow last month had a negative impact on consumption.
By stock, growth stocks showed an advantage over value stocks. Facebook gained 2.02% strength, announcing its cooperation with Newscorp to avoid friction with Australia. Alphabet also rose 1.43% in that it has already signed a contract. Fox News and Discovery also rose 3.34% and 2.90%, respectively, and the New York Times also rose 1.64%, and the content sector also rose.
The semiconductor-related industry also rose. Equipment maker AMAT recorded a 3.15% strength in expectations for dividend increase and Investor’s Day (April 6). Lam Research and Micron also rose 2.19% and 2.90%, respectively, and Broadcom also ended up 1.57%.
On the other hand, Tesla fell 4.39% on concerns over intensifying competition. Volkswagen announced that it will build six new battery plants by 2030 and produce 70% of its European sales from electric vehicles.
Nicolas plunged 7.09% with the announcement of a $100 million capital increase. Coupang INC also fell 6.58%. As news came that the mandatory holding of 34 million shares of employees had been lifted.
NOV, an energy sector, plunged 10.34% as earnings forecasts were lowered. Exxon Mobil also fell 2.12% due to concerns over sluggish earnings. Delta Air Lines and Carnival also ended down 3.14% and 5.17%, respectively, in anticipation that the corona19 vaccination will be delayed in Europe.
Eunbit Go, reporter Hankyung.com [email protected]