On October 16th Eastern Time, the three major U.S. stock indices fluctuated and consolidated. As of press time, the Dow Jones Industrial Average rose by 0.22%, the Nasdaq Composite fell by 0.35%, and the S&P 500 index fell by 0.08%.
In terms of individual stocks, ASML fell nearly 5% due to underperforming expectations, with the stock closing down 16.26% the previous day. Morgan Stanley rose over 6%, with net revenue of $15.38 billion in the third quarter, exceeding market expectations. Novavax Inc. fell over 17% as the U.S. Food and Drug Administration (FDA) suspended the company's planned clinical trials for a flu vaccine. Spot gold approached historical highs, with gold stocks generally rising; Gold Fields and Harmony Gold rose over 5%, while Cordilleran Mining and Hecla Mining rose by about 4%. Intel opened down 1%; popular Chinese concept stocks generally rose at the U.S. market open, with Bilibili up 1%, Alibaba up 0.5%, and JD.com up 1%.
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Japan sends a strong signal! Potential rate hike risks, Japanese stock market suffers a significant setback
On October 16th, Bank of Japan policy board member Seiji Adachi said in a speech that Japan has met the conditions for policy normalization, and it is appropriate for the Bank of Japan to adopt a gradual rate hike approach. Regarding the highly anticipated timing of the Bank of Japan's next rate hike, Adachi stated that there is currently no specific month under consideration, but it is essential to avoid pushing Japan back into a deflationary state by raising rates too early.
The U.S. bull market is not over! UBS is bullish: S&P 500 could rise to 6,400 points by the end of 2025
UBS Global Research raised its year-end target for the S&P 500 index from the previously estimated 5,600 points to 5,850 points on Tuesday, citing corporate earnings growth, a favorable macroeconomic backdrop, and Federal Reserve rate cuts. UBS also raised its target for the S&P 500 index by the end of 2025 from the previously estimated 6,000 points to 6,400 points. This implies that over the next 15 months, the S&P 500 index could rise by another 10%.
Third-quarter order amount only half of expectations! ASML's performance bombshell was prematurely published
Local time on October 15th, ASML's financial report, originally scheduled to be released on October 16th, was accidentally published online ahead of schedule, although the company quickly removed it, it had already been captured by major third-party websites. ASML issued a statement on its official website stating that a "technical glitch" caused the company's third-quarter performance report to be disclosed a day early on October 15th.
As stock prices hit new highs again, Nvidia still has hidden concerns.After several months of sluggishness, NVIDIA has regained its former heat. However, maintaining the upward trend may not be easy for NVIDIA. In addition to its own production capacity concerns, NVIDIA still faces risks such as close pursuit by competitors, the escalation of US export restrictions, and a possible significant decline in AI data center server spending.
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