On Wednesday Eastern Time, the three major US stock indices closed with mixed gains and losses, with the Dow Jones Industrial Average rising 0.59% and continuing to reach new highs; The Nasdaq fell 2.77%, marking the largest decline since December 2022; The S&P 500 index fell 1.39%, marking its largest daily decline since April 30th. The Philadelphia Semiconductor Index fell 6.81%, marking the largest single day decline since March 2020. Large tech stocks generally fell, with Nvidia falling over 6%, Meta falling over 5%, Tesla falling over 3%, Amazon and Apple falling over 2%, and Netflix, Microsoft, and Google falling over 1%.
Popular Chinese concept stocks generally fell, with the Nasdaq China Golden Dragon Index falling 1.86%. NIO fell over 6%, Futu Holdings fell over 5%, Xiaopeng Motors, Weibo, and Bilibili fell over 3%, Ideal Auto, Pinduoduo, Baidu, Tencent Music, and iQiyi fell over 2%, Alibaba and Manbang fell over 1%, and JD.com and NetEase fell slightly. Vipshop has seen a slight increase.
Global News
It's all heavyweight! Trump reveals policy plans: tax cuts, low interest rates, support for TikTok and cryptocurrency
On Monday Eastern Time, at the Republican National Convention in the United States, Trump has officially become the presidential candidate. After experiencing television debates and last Saturday's shooting incident, Trump's chances of winning seem to be increasing, which has also drawn more attention to the Republican candidate's policy plans. Former US President Trump recently discussed in detail his economic policy plans at a communication event. In this exchange, Trump talked about many heavyweight topics such as tax cuts, interest rates, increased oil exploration, and support for TikTok.
The surge of support for Trump is causing concern! Analyst: '2.0 era' may reignite global inflation
With the global shock caused by last weekend's "assassination incident" and the repeated misstatements by current US President Biden that sparked calls for "replacement", support for Trump seems to be increasing in both the political and business circles. But analysts warn that if Trump is re elected, his second term could reignite global inflation as his "America First" policy pushes up global costs. They pointed out that the economic agenda of high tariffs and low taxes was a characteristic of Trump's first term, and it itself was a factor that fueled inflation. And given that he won't easily change his' original intention ', the destructive power this time will be even greater.
US plans to pressure Japan, Netherlands for 'chip exclusion', Ministry of Foreign Affairs: hopes relevant countries can distinguish right from wrong
Lin Jian stated that China has repeatedly expressed a firm stance on the malicious blockade and suppression of China's semiconductor industry by the United States. The United States politicizes, securitizes, and instrumentalizes economic, trade, and technological issues, continuously increases its chip export controls on China, coerces other countries, suppresses China's semiconductor industry, seriously undermines international trade rules, damages global supply chain stability, and is not conducive to any party. China has always been firmly opposed to this. Lin Jian said that he hopes relevant countries can distinguish right from wrong, resolutely resist coercion, jointly maintain a fair and open international economic and trade order, and truly safeguard their own long-term interests.
The market finally pricing at 100%. The Federal Reserve's September interest rate cut and "rate cut trading" have begun to fully erupt
According to the Chicago Mercantile Exchange's Federal Reserve Watch tool, traders currently expect a probability of 90.9% for the Fed to lower its target range for the federal funds rate to 5.0% -5.25% (a 25 basis point cut) after the September meeting, and a probability of 8.9% for a rate cut to 4.75% -5% (a cumulative 50 basis point cut in July and September meetings); There is even a very slim possibility of a 0.1% cumulative interest rate cut of 75 basis points at the July and September meetings.
Who will benefit from the big round of "tech giants" no longer dominating the US stock market? Understand one article
For a long time, the US stock market has been driven by the boom in artificial intelligence (AI) and technology stocks. To put it simply, the surge in the US stock market is largely attributed to the "Big Seven" technology giants, and the issue of excessive concentration has also sparked controversy and concerns. The weight of the "Big Seven" in the S&P 500 index is so significant that strategists from investment bank Piper Sandler wrote in a report released on June 3 that they will no longer set a target price for the S&P 500 index because the enormous influence of these seven stocks means that the S&P 500 index can no longer represent the US stock market. However, now it seems that the era of the "seven tech giants" dominating the US stock market is slowly coming to an end, and the big round is finally about to begin.
Another historic high! After the gold price stabilizes at 2400, concerns resurface: year-end bullish at 2600 US dollars vs. pullback to 2000 US dollars
The gold price has broken through the $2470/ounce mark. After experiencing a correction in June, the gold price has now stabilized at $2400 per ounce, reaching a new historical high. From mid March to mid May, the gold price has repeatedly broken historical highs. Experts believe that the rise in gold prices is influenced by factors such as the decline in the US dollar index, geopolitical risks, and rising market risk aversion.
Company News
Can Tesla's stock price increase by 10 times? 'Wooden Sister' Highly Praises: Robotaxi Will Be the Key to Transformation '
On Tuesday Eastern Time, Cathie Wood, the head of Ark Investment Management, also known as "Wood Sister," said in an interview that as Tesla gradually launches its Robotaxi business, it will drive its stock price up about 10 times. Three years ago, "Wooden Sister" made a fortune by heavily investing in Tesla and became a sensation on Wall Street. Now, she once again boasts loudly about Tesla, believing that Tesla will leverage its Robotaxi business to transform from a "pure electric car manufacturer" and gain substantial profits in the autonomous taxi business.
Is it all because of this component that Nvidia Blackwell is facing a bottleneck in the server delivery process?
According to the latest report from Digtimes, liquid cooled AI servers will face a shipping bottleneck due to tight supply of quick change connectors (UQDs). Quick change connectors, also known as quick connectors, are commonly used in computers or servers with liquid cooling systems in the digital age and are one of the key components of liquid cooling systems. Industry insiders have pointed out that among the components required for server liquid cooling systems, quick change connectors are the most scarce, because liquid cooled servers are most averse to water leakage, and the most prone to water leakage is precisely in quick change connectors. Therefore, there is a high demand for replacement of this component.
Fearless of the decline in iron ore prices! BHP Billiton breaks iron ore production record for second consecutive year
Despite a cumulative drop of nearly 20% in iron ore prices since the beginning of the year, giant miners have not slowed down their mining efforts. On Wednesday local time, BHP Billiton, the world's largest listed mining company, released its quarterly production report. The report shows that thanks to improved weather conditions and the breakthrough of the company's iron ore project in Western Australia, BHP's iron and copper ore production exceeded analysts' expectations, especially as iron ore set a record for the second consecutive year.
Roche oral weight loss drug phase I clinical trial achieved positive results: an average weight loss of 6.1% after 4 weeks
On Wednesday local time, Swiss healthcare giant Roche released early trial data for its second candidate weight loss drug CT-996, which showed significant weight loss for patients. Roche announced that in phase I clinical trials, after adjusting for placebo effects, the once daily oral weight loss drug CT-996 resulted in an average weight loss of 6.1% in obese patients within four weeks.
ASML's Q2 revenue growth compared to the previous quarter, Q3 performance guidance falls short of expectations
Photolithography giant ASML's Q2 performance exceeded expectations and is expected to be strong in the second half of the year, but remains flat for the full year. On July 17th, ASML released its Q2 2024 financial report, achieving net sales of 6.243 billion euros, a gross profit margin of 51.5%, and a net profit of 1.578 billion euros during the period. Revenue and profit both resumed growth in the first quarter compared to the previous quarter, with sales of 5.29 billion euros and net profit of 1.22 billion euros in the first quarter of this year.