U.S. stocks closed lower on Monday, 18th July 2022, after bank stocks gave back earlier gains. Plus, Apple fell on a report that the company plans to slow hiring and spending growth next year.
S&P financials began the day lower after having gained strongly earlier in the session after Bank of America and Goldman Sachs reported results.
Apple reversed its intraday gains to close down 2.1% at $147.1.
Earlier, Bloomberg News reported, citing people familiar with the matter, that Apple intends to slow hiring and spending growth in some divisions next year in response to a potential economic downturn.
Goldman Sachs rose 2.5% after the company reported a smaller-than-expected 48% drop in second-quarter profit, helped by a strong fixed-income trading unit.
(Dow 30, 1-hour chart)
The Dow is concerned about the 31000-line today. If the Dow is running steadily above the 31000-line, then it will pay attention to the suppression strength of the two positions of 31291 and 31661.
Hong Kong Stocks
Hang Seng Index (HSI), and Hang Seng TECH Index (HSTECH) are down more than 1%.
Techtronic Industries Company Limited (0669.HK) fell more than 4% and lead the decline of blue chips.
Auto stocks are collectively lower, XPeng Inc. (9868.HK) fell nearly 6%, Great Wall Motor Company Limited (2333.HK), and NIO Inc. (9866.HK) fell more than 2%, Geely Automobile Holdings Limited (0175.HK) fell 1.78%.
On 19th July 2022, the Hong Kong dollar exchange rate in the New York trading session continued to touch 7.85 weak exchange level. The Hong Kong Monetary Authority under the linked exchange rate mechanism, announced this morning that it would undertake a sell order of 8.07 billion Hong Kong dollar.
The total balance of the Hong Kong banking system will fall to 1909.43 after 21st July 2022. Since the early morning of 12th May 2022, the Hong Kong Monetary Authority has received money 20 times, with a total of 146.537 billion Hong Kong dollars.
(HK50, 1-hour chart)
HK50 focuses on the 21450-line today. If HK50 can run stably above the 21450-line, then pay attention to the suppression strength of 22127 and 22785. If HK50 runs below the 21450-line, then pay attention to the support strength of 20467 and 19517.
FTSE China A50 Index
(FTSE China A50, 1-hour chart)
FTSE China A50 focuses on the 14352-line today. If the A50 runs stably below the 14352-line, it will pay attention to the support strength of the two positions of 13970 and 13544. If the A50 runs above the 14352-line, it will open up further upward space. At that time, pay attention to the two positions of 14695 and 14985.
Trading in financial instruments involves high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding the investor’s initial investment could incur within a short period of time. The past performance of a financial instrument is not an indication of its future performance. Investments in certain services should be made on margin or leverage, where relatively small movements in trading prices may have a disproportionately large impact on the client’s investment and client should therefore be prepared to suffer significant losses when using such trading facilities.
Please make sure you read and fully understand the trading risks of the respective financial instrument before engaging in any transaction with Doo Prime’s trading platforms. You should seek independent professional advice if you do not understand the any of the risks disclosed by us herein or any risk associated with the trade and investment of financial instruments. Please refer to Doo Prime’s Client Agreement and Risk Disclosure Statement to find out more.
This information is addressed to the general public solely for information purposes and should not be taken as investment advice, recommendation, offer, or solicitation to buy or sell any financial instrument. The information displayed herein has been prepared without any reference or consideration to any particular recipient’s investment objectives or financial situation. Any references to the past performance of a financial instrument, index, or a packaged investment product shall not be taken as a reliable indicator of its future performance. Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, make no representation or warranties to the information displayed and Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, shall not be liable for any direct, indirect, special or consequential loss or damages incurred a result of any inaccuracies or incompleteness of the information provided. Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, as well as managers, shall not be liable for any direct, indirect, special or consequential loss or damages incurred as a result of any direct or indirect trading risks, profit, or loss arising from any individual’s or client’s investment.