MHMarkets:MHM-News Today
☆ At 20:30, the United States will announce the number of initial claims for unemployment benefits for the current week. Currently, the market expects it to record 196,000, an increase from last week.
☆ At 20:30, the United States will also announce the final value of the fourth quarter's real GDP annualized quarterly rate, the final value of the fourth quarter's real personal consumption expenditure quarterly rate, and the final value of the fourth quarter's core PCE price index annualized quarterly rate.
☆ At 1:00 a.m. the next day, the Federal Reserve will deliver a speech after it had worried that the banking crisis would increase the risk of the United States entering a recession.
MHMarkets
Market Overview
Review of Global Market Trend
On Wednesday, due to a return in risk sentiment, spot gold fell below $1970. It repeatedly failed to explore the 1970 level during the US session, and ended down 0.46% at $1964.58 per ounce; Spot silver rebounded during the European session and remained above $23, ending up 0.03% higher at $23.33 per ounce.
The US dollar index reversed some of its recent decline, showing a "V" shaped trend during the session, and ended up 0.21% higher at 102.64; The yield of the US 10-year treasury bond bond rose first and then fell, and finally came close to flat at 3.566%.
Although the EIA report shows that the decline in US EIA crude oil inventory for the current week recorded the largest since the week of November 25, 2022, crude oil continued to rise and turn lower during the US session. WTI crude oil ended down 1.05% to $72.78 per barrel, while Brent crude oil ended down 1.11% to $77.48 per barrel.
US stocks opened higher and closed higher, with the Dow up 1%, the Nasdaq up 1.79%, and the S&P 500 index up 1.42%. Most sectors such as new energy vehicles and chip stocks strengthened, with Xiaopeng Automobile up about 9%, Intel up about 8%, and Micron Technology up about 7% after its performance. The Nasdaq 100 index rose 20% from its December low, entering a technical bullish market.
The main European stock indexes remained strong, with Germany's DAX30 index rising 1.23%, the UK's FTSE 100 index rising 1.07%, France's CAC40 index rising 1.39%, and Europe's Stoxx 50 index rising 1.51%.
Market Focus
1. The Saudi cabinet approved the country's status as a dialogue partner in the SCO.
2. Statistics show that France has released 10 million barrels of oil war reserves from the week of March 6 so far due to the strike.
3. Federal Reserve Barr said the Federal Reserve has made significant regulatory failures in this banking crisis.
4. JPMorgan Chase: change change valuation significantly raised the target price of Alibaba U.S. shares to $ 210 (now $ 99).
5. Following Cargill will stop exporting Russian grain, large international grain merchant Viterra plans to withdraw from the Russian grain trade.
6. Apple will hold its 2023 developer conference between June 5 and 9.
7. Following the injection of capital into First Republic Bank or caught in the act, it is reported that the FDIC is considering letting big Wall Street banks share more of the $23 billion in insurance fund losses caused by the recent banking turmoil.
8. South Korea and the United States on the 29th in the sea and air around Pohang, North Gyeongsang Province to conduct joint landing assault exercises. This is the first time in five years that the South Korean-US "Double Dragon Exercise" has been implemented on a divisional scale, the largest in five years.
Geopolitical Situation
Conflict Situation：
1. Russian Wagner Group founder Prigozin: The firefight in the Bakhmut region almost destroyed Ukrainian troops in the area, but Wagner forces were also hit hard.
2. The Ukrainian Defense Ministry said that on the 29th, the Ukrainian troops repelled 48 Russian attacks in four places, including Liman and Bakhmut.
3. The Ukrainian Defense Ministry said the Ukrainian Air Force launched five airstrikes on the same day against areas of concentration of Russian military personnel and equipment and destroyed a Russian Su-24m bomber.
4. Russian Defense Ministry: Russian forces struck Ukrainian military personnel and weaponry in several directions, including Kupyansk, destroying several tanks, armored fighting vehicles, anti-tank guns, howitzers and a U.S.-made M777 artillery system.
5. Ukrainian Defense Minister Reznikov said that the Ukrainian side plans to launch a counter-offensive between April and May of this year, which will advance in several directions.
Assistance Situation：
1. Spain plans to send 6 Leopard 2 tanks to Ukraine in April.
2. Germany increased its military support to Ukraine worth 12 billion euros.
MHMarkets
Institutional Perspective
01
Goldman Sachs
Goldman Sachs is restructuring the leadership of its core capital markets business.
02
SOCIETE GENERALE
Societe Generale: French police are conducting a search campaign at the Bank's headquarters.
03
MUFG
The issuance of AT1 bonds still continues as planned.
