On the 4th local time, all three major US stock indexes closed slightly higher, with the Dow Jones Industrial Average up 0.36%, the Nasdaq up 0.17%, and the S&P 500 index up 0.15%.
Amazon, Google, Microsoft, and Apple saw a slight increase; Tesla, Netflix, Intel, and Meta saw a slight decline. The US copper sector experienced a significant decline, with Ivanhoe Electric falling over 8% and McMoran Gold copper falling 4.5%.
Nvidia rose 1.25%, reaching a new historical high with a total market value of $2.9 trillion. Musk stated that Tesla is expected to purchase Nvidia products for $3 billion to $4 billion this year.
CrowdStrike rose over 5% in the US stock market after trading, after falling about 10% earlier. The company's first quarter revenue was 921 million US dollars, with analysts expecting 904.7 million US dollars. The expected annual revenue is between 3.98 billion US dollars and 4.1 billion US dollars, while the company was originally expected to be between 3.92 billion US dollars and 3.99 billion US dollars.
Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 0.99%. IQiyi and NIO fell more than 2%, Ideal Automobile fell more than 1%, Baidu, Pinduoduo, Vipshop, Xiaopeng Motors, and Futu Holdings saw a slight decline. Bilibili rose by over 1%, while Alibaba, JD.com, NetEase, and Weibo saw a slight increase.
The settlement price of international crude oil futures fell by more than 1%. WTI July crude oil futures closed down $0.97, a decrease of 1.31%, at $73.25 per barrel. Brent August crude oil futures closed down $0.84, a decrease of 1.07%, at $77.52 per barrel.
The offshore Chinese yuan (CNH) was trading at 7.2475 yuan against the US dollar at 04:59 Beijing time, up 43 points from late Monday in New York. The overall intraday trading was in the range of 7.2588 to 7.2412 yuan.
Following Monday's manufacturing data, the US Bureau of Labor Statistics released a report on Tuesday that showed job vacancies in the country in April dropped to the lowest level in over three years, significantly below expectations. The latest JOLTS data confirms that the US labor market is gradually slowing down.
In April, there were 8.059 million job vacancies in JOLTS in the United States, the lowest level since February 2021. At that time, the number of job vacancies was less than 8 million, and the expected number was 8.35 million, lower than the estimates of all economists surveyed by the media. The value was revised down from 8.488 million to 8.36 million before March.
The number of job vacancies in April was 1.567 million more than the number of unemployed people, a significant decrease from 1.926 million in March and the lowest level since June 2021. The ratio of job vacancies to unemployment has dropped to 1.24, the lowest level since June 2021, a sharp drop from 1.30 in March. The overall trend of this proportion has been decreasing over the past two years. In March 2022, this proportion reached a record level of over 2. This proportion was 1.2 before the COVID-19 epidemic, and has basically returned to the long-term trend level.
Analysis shows that recent data shows that the US labor market is cooling down, but the cooling process is gradual, with recruitment slowing down rather than direct layoffs. Federal Reserve officials hope that this trend can continue to control demand and curb inflation without causing millions of people to lose their jobs.
The data from the job market continues to heat up expectations for the Federal Reserve's interest rate cut this year. After the data was released, the pricing of swap contracts showed that investors increased their bets on a rate cut in November this year; The price of US treasury bond bonds rose further, and the decline in yields widened. The yield of benchmark 10-year US bonds once dropped by about 10 basis points from the daily high, approaching the low of more than one month hit nearly three weeks ago after the US CPI was announced in April.