美国股评 US Market Summary 20230110

*US shares close mixed amidst Tech rally*

*10 January 2023*
Nasdaq 100 Index 11108.45, (0.62%)↑
S&P 500 Index 3892.1, (-0.08%)↓
Dow Jones Indus Avg Index 33517.65, (-0.34%)↓

US equities pared early gains to close mixed as a *slump in Energy and Healthcare stocks offset a Tech rally*. Treasury yields fell as traders added to bets for a less hawkish Fed, with the *10-year yield* last hovering around 3.54%. 6 of 11 sectors closed in the red, with *Healthcare* leading losses while *Info Tech* led shares higher. *Crude oil prices* climbed the most in 2 weeks after China raised its import quotas for the coming year, suggesting it is preparing for a big rebound in demand. The *VIX (+3.12%)* jumped to 21.80.

2 Fed officials favored raising rates above 5% before pausing and holding into 2024. *Atlanta Fed President Raphael Bostic* stated that it is "Fair to say that the Fed is willing to overshoot" and that “We are just going to have to hold our resolve". *San Francisco Fed President Mary Daly* said that a "case can be made for either one" with regards to a 25bps or 50bps hike for the next rate decision. *Fed Chair Jerome Powell* is scheduled to speak at a bank symposium in Sweden later today at *22:00 Singapore Time*. Looking ahead, All eyes will be on this *Thursday's CPI data scheduled to be released at 21:30 Singapore Time*.

Tech led the broader market as treasury yields fell, *Advanced Micro Devices (+5.13%)* and *Nvidia (+5.18%)* both gained. *Broadcom (-1.96%)* dropped on reports Apple will stop the use of its chips by 2025. *Regeneron (-7.69%)* plunged as sales of its Eylea drug were negatively impacted in Q4 2022 by a shift to an off-label competitor. *Lululemon (-9.29%)* fell after forecasting a margin squeeze in Q4. *Goldman Sachs (+1.20%)* gained on reports it will be having its biggest layoffs since the Financial Crisis. *Tesla (+5.93%)* rose after the EV maker indicated longer waiting times for some models in China, hinting that the recent price cuts may be fueling demand.