On Thursday Eastern Time, the three major US stock indexes closed mixed, with the Dow Jones up 0.77%, the S&P 500 down 0.25%, and the Nasdaq down 0.79%. Among them, the Nasdaq ended its seven consecutive daily gains.
Most large technology stocks fell, with Nvidia falling more than 3%, Apple falling more than 2%, Tesla falling more than 1%, and Netflix, Microsoft, and Intel falling slightly; Amazon rose more than 1%, while Google and Meta saw a slight increase. Among them, NVIDIA's total market value is $3.22 trillion, falling below Microsoft and slightly higher than Apple.
Most popular Chinese concept stocks fell, with Vipshop falling more than 4%, NIO, Baidu, and Tencent Music falling more than 2%, Futu Holdings, Ideal Automobile, and JD.com falling more than 1%, and Pinduoduo and Alibaba slightly falling. Bilibili rose by over 5%, NetEase rose by over 1%, and Weibo and Xiaopeng Motors saw a slight increase.
Global News
Several Federal Reserve officials are not in a hurry to cut interest rates. Economists warn that not cutting rates is playing with fire
On Tuesday local time, multiple Federal Reserve officials concentrated their statements, urging the market to be patient with rate cuts. They emphasized the need for more evidence of inflation cooling before rate cuts. On the same day, former Federal Reserve economist Sam issued a warning that the Fed's failure to cut interest rates is playing with fire or pushing the US economy into recession. Mohammad El Elian, Chief Economic Advisor of Allianz Group, also warned that if the Federal Reserve does not cut interest rates for a long time, the United States will be pushed into a recession abyss.
Accelerate the revival of nuclear power! The US Senate has passed a bill with high votes to support advanced nuclear energy deployment
On Tuesday, June 18th local time, the US Senate passed a bill to accelerate nuclear energy deployment, including accelerating the licensing process for nuclear power plants and adding new incentives for advanced nuclear reactor technology. According to reports, the agenda to expand nuclear power has received widespread support from both parties. The ADVANCE bill, which had previously been passed in the House of Representatives, passed the Senate with 88 votes in favor and 2 votes against yesterday, and will be signed by US President Biden as a formal law.
Reclaim the lost land in the first four months of this year! Towards the end of the first half of the year, US Treasury bulls have "come back"
After experiencing the roller coaster market in the first half of this year, US bond investors seem to have returned to the original starting point... A Bloomberg index measuring the total return rate of the US treasury bond bond market shows that near the end of the first half of this year, the index will decline by only 0.1% in 2024, while in April, the annual decline of US treasury bond was as high as 3.4%.
Goldman Sachs warns that the US election may trigger an inflation storm, and gold will become a safe haven
Goldman Sachs strategists say that the November US election may trigger inflation, and gold is a way to hedge this risk. Goldman Sachs strategists led by Daan Struyven believe that if the Republican Party wins both the presidency and Congress, it will pose the greatest risk to US inflation and bond returns. Because this result means that the US economy will face higher import tariffs, slower immigration, stricter sanctions on Iranian oil, lower taxes, and the White House and Congress may try to influence Federal Reserve policy more forcefully.
Top Wall Street institutions warn: Financial industry colleagues pay attention to the AI era, we are a "high-risk group"
Since the rise of ChatGPT, there has been a constant stream of research on "AI replacing human work". Citigroup in the United States also provided their insights on this issue in its AI in Finance report released on Wednesday. From the conclusion of the report, it can be seen that the financial industry will be the sector most affected by AI automation, but technological transformation may not have a negative impact on the total number of financial industry jobs - it is just that job opportunities may change.
The Japanese banking industry suddenly exploded with thunder! Urgent sell-off of 460 billion yuan
On June 18 local time, Norinchukin Bank, the fifth largest bank in Japan, announced that it would sell more than 10 trillion yen (about 460 billion yuan) of US treasury bond bonds and European bonds in the year to March 2025 to make up for huge unrealized losses. The bank predicts that with the sale of bonds, the net loss for the fiscal year ending in March 2025 will rise to 1.5 trillion yen (approximately 70 billion yuan).
Company News
Is it not enough for Nvidia to climb 48% to reach the top of the list? Analyst: Software business is key!
Even after Nvidia's stock price rose nearly 210% within a year and recently topped the US stock market value list, some analysts still have a positive outlook on its prospects and raised its target price to a historic high of $200 per share. Rosenblatt Securities analyst Hans Mosesmann recently released his latest view, stating that he has rated Nvidia as "buy" and raised the target price from the previous $140 to $200. He has always been a loyal fan of Nvidia.
TSMC's market value approaches $1 trillion, and major Wall Street firms such as Goldman Sachs have raised their target prices
On June 20th, it was reported that as TSMC's market value approached the $1 trillion mark, bullish sentiment became increasingly high. Several Wall Street securities firms raised TSMC's target price this week, citing a surge in demand for artificial intelligence and potential price hikes in 2025 that could boost TSMC's profits. The most optimistic is Goldman Sachs, which has raised its target price by 19% to NT $1160, as it expects the manufacturing prices of 3-nanometer and 5-nanometer chips to rise by a "low single digit percentage".
Who else has taken on the xAI "big order" besides Nvidia? Musk: Dell and Microelectronics!
Musk announced on social media platform X on Wednesday that Dell Technologies and Super Micro Computer will become suppliers to their artificial intelligence startup xAI, providing server racks for the supercomputers they are manufacturing. He wrote in response to a post, "More precisely, Dell is assembling half of the racks for the supercomputers being built by xAI."
Amazon continues to invest 10 billion euros in Germany through its massive cryptocurrency strategy plan
Amazon, which is crazily throwing money around the world, has recently turned its attention to Germany. On Wednesday local time, the US technology giant announced plans to invest 10 billion euros (approximately $10.7 billion) in Germany to expand its logistics network and cloud infrastructure nationwide. In addition to the € 7.8 billion investment promised last month, Amazon's total new investment in Germany reached € 17.8 billion.