On Monday Eastern Time, the three major indexes of the US stock market collectively fell, stopping for two consecutive positive days. Previously, a statement by the Federal Reserve Chairman almost extinguished hopes of a rate cut in March, with the Dow Jones Industrial Average falling 0.71%, the S&P 500 Index falling 0.32%, and the Nasdaq falling 0.2%.
Large tech stocks fluctuated, with Apple closing up nearly 1% after the launch of VisionPro. The chip stock index rose more than 1% against the trend, with three consecutive gains. Tesla fell more than 3%, reaching a new low since May last year; META fell more than 3%, while Microsoft fell more than 1%. Weight loss drug concept stocks surged, with Lilly up 5.77% and Novo Nordisk up 4%, both reaching historic highs.
In addition, Nvidia performed exceptionally well, closing up 4.79% and closing at a record high for the third consecutive trading day. Its stock price was at $693.32, with a market value of $1.71 trillion and a cumulative increase of 40% so far this year. Previously, Bank of America and Goldman Sachs raised Nvidia's target price to $800, indicating a 21% increase from last Friday's closing price and an approximately 15% increase from Monday's closing price.
Today (February 6, 2024), the intraday price of S&P 500 ETF (513500) saw a slight correction, falling 0.18% after reaching a new high yesterday. The transaction volume exceeded 16 million yuan, with a scale of nearly 11 billion yuan and a year-on-year increase of over 5%.
The Nasdaq 100ETF (513390) fell 0.14% due to intraday premium trading, with a year-on-year increase of nearly 6%. The latest scale exceeded 700 million yuan.
In terms of data, according to CME's "Federal Reserve Observation", the probability of the Federal Reserve maintaining interest rates in the 5.25% -5.50% range in March is 83.5%, and the probability of a 25 basis point rate cut is 16.5%. The probability of maintaining interest rates unchanged by May is 35.8%, the probability of a cumulative 25 basis point rate cut is 54.8%, and the probability of a cumulative 50 basis point rate cut is 9.4%.