On Wednesday Eastern Time, the minutes of the Federal Reserve meeting showed that Federal Reserve officials unanimously believed that the interest rate hike cycle may have ended and did not discuss when to start cutting rates. The US stock market opened low and closed low, with the three major indexes collectively closing lower. The Nasdaq fell 1.18%, the S&P 500 index fell 0.8%, and the Dow Jones fell 0.76%. Most large technology stocks fell, with Tesla falling about 4%, Nvidia, Intel, and Amazon falling more than 1%, and Apple, Microsoft, and Meta slightly falling; Google and Netflix saw a slight increase.
Popular Chinese concept stocks generally rose, with the Nasdaq China Golden Dragon Index rising 1.53%. NetEase rose more than 4%, Bilibili and Ideal Automobile rose more than 3%, Alibaba, Pinduoduo, and Baidu rose more than 2%, Tencent Music, Xiaopeng Automobile, and Futu Holdings rose more than 1%, while NIO, JD.com, Vipshop, and Weibo rose slightly. IQiyi and Manbang saw a slight decline.
Global News
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With the rise of the AI industry and the stronger than expected economic momentum in the United States, the US stock market has staged an astonishing rebound in 2023. Wall Street is generally bullish on the trend of US stocks in 2024, with the most optimistic analysts predicting that the S&P 500 index is expected to rise to 5200 points this year, 10% higher than its current level.
Is biopharmaceutical concept stocks expected to continue to benefit from a 50% increase in the number of new drugs approved by the US FDA last year?
The number of new drugs approved by the FDA in 2023 has increased by nearly 50% compared to 2022, and the number of approvals has returned to near normal levels; As interference decreases, Baral expects the number of approved new drugs to return to peak levels in 2024.
Goldman Sachs predicts seven major trends in the US stock market in 2024: AI remains the main theme, and the popularity of weight loss drugs is not fading
On Tuesday Eastern Time, Goldman Sachs released its latest report stating that after the Federal Reserve raised interest rates, the US economy appeared to perform well, and the market's performance in 2023 far exceeded expectations. They expect that this good situation is highly likely to continue in 2024.
Company News
Will Lilly's stock price rise by another 20%? BMO: Zepbound is expected to dominate the weight loss market this year
According to the latest report from BMO Capital Markets, US pharmaceutical giant Eli Lilly's GLP-1 drug Zepbound is expected to dominate the weight loss market in 2024, which will drive the company's stock price up by an additional 20% from current levels.
For the first time since the birth of the iPad, there are no new models available throughout the year! What's going on?
At the beginning of 2024, "Apple's first iPad update in 2023" made it to the hot search. In the past year, Apple has rarely released any new iPads.