Investors examine the mixed financial reports of large corporations and seek clues about when the Federal Reserve will cut interest rates. The three major US stock indexes closed slightly higher, with the Dow Jones up 0.37%, the S&P 500 up 0.23%, and the Nasdaq up 0.07%.
Large tech stocks fluctuated, with Tesla rebounding and closing up more than 2%. Apple rose for two consecutive days after selling VisionPro, while Netflix and Meta fell more than 1%. The chip stock index fell more than 1% and underperformed the market. Nvidia hit a historic high in the trading session and then turned lower, closing down 1.6%. AMD fell 5% at one point.
Today (February 7, 2024), the S&P 500 ETF (513500) saw a slight pullback, with a 0.12% intraday decline and a premium trading volume of over 24 million yuan, with a scale of over 10.7 billion yuan and a year-on-year increase of over 5%.
The Nasdaq 100 ETF (513390) fell by more than 1%, with a premium rate of 1.57%. It has risen by more than 5% since the beginning of the year, with the latest scale exceeding 700 million yuan.
Microsoft announced its Q4 2023 performance, achieving a revenue of $62 billion, a year-on-year increase of 18%; Realized a net profit of 21.9 billion US dollars, a year-on-year increase of 33%; The intelligent cloud business continues to be driven by AI and performs excellently. Meta announced its Q4 2023 performance, achieving a revenue of $40.1 billion, a year-on-year increase of 25%; Realized a net profit of 14 billion US dollars, a year-on-year increase of 201%; The VR/AR business has achieved a record high quarterly revenue, and the company will increase its investment in the AI field in the future.
Changjiang Securities stated that the logic of increasing revenue has been verified and is waiting for the arrival of the AI era. Thanks to AI technology empowering business, top overseas manufacturers have exceeded expectations in their performance, and the logic of AI revenue growth has once again been validated. In this context, leading overseas manufacturers such as Microsoft and Meta have invested heavily in AI technology, increasing their capital investment in this field, and verifying the high momentum of the AI track. Continuously monitor the commercialization of domestic AI under the breakthrough of underlying technology in large models and the normalization of C-end registration.
In addition, Federal Reserve officials indicate that they still prefer three interest rate cuts in 2024; Not willing to provide a schedule for interest rate cuts, believing that there is no need to hastily cut rates; Maintain an open attitude towards the possibility that neutral interest rates have already risen; There is currently no urgency to slow down the pace of scale reduction.