On Thursday, May 9th Eastern Time, the three major US stock indexes closed higher, while the Dow Jones rose for the seventh consecutive trading day. The number of Americans applying for unemployment benefits for the first time in the United States jumped last week, and the Federal Reserve's Daley claimed that if the job market deteriorates, the Fed will consider lowering interest rates.
Roblox, the first stock in the metaverse, fell more than 22% as the company lowered its annual booking expectations, sparking market concerns about the development of the video game industry.
China's assets have soared, with most popular Chinese concept stocks rising, while Zaiding Pharmaceutical has surged by over 26%.
The number of first-time claims for unemployment benefits in the United States jumped last week
On May 9th, the US stock market closed with the Dow Jones up 331.37 points, or 0.85%, at 39387.76 points; The Nasdaq rose 43.51 points, or 0.27%, to 16346.26 points; The S&P 500 index rose 26.41 points, or 0.51%, to 5214.08 points.
The number of first-time claims for unemployment benefits in the United States surged last week, reaching a new high since the week of August 26, 2023.
The number of initial jobless claims in the United States last week was 231000, with an expected 215000, compared to the previous value of 208000; The four week average is 215000 people, with a previous value of 210000 people. The number of people reapplying for unemployment benefits for the week of April 27th was 1.785 million, with an expected increase of 1.785 million, compared to the previous value of 1.774 million.
Federal Reserve's Daley said that the risks of employment and inflation targets are balanced; The Federal Reserve's policy is restrictive, but reducing inflation may still take time. If the job market deteriorates, the Federal Reserve will consider lowering interest rates. It is too early to declare that the labor market is fragile and on the verge of collapse.
Blackstone President Jon Gray said, "We believe that economic growth is slowing down. The central bank will be slow in lowering interest rates because they don't want to see inflation rise. The Federal Reserve will remain patient and they may only cut interest rates once this year."
The Bank of England has announced its latest interest rate decision, maintaining the benchmark interest rate at a 16-year high of 5.25% for the sixth consecutive time, in line with market expectations.
Bank of England Governor Andrew Bailey stated at a press conference that at the next meeting of the Monetary Policy Committee in June, rate cuts are neither "ruled out" nor "a fait accompli".
Technology stocks mostly rise
Technology stocks mostly rose, with Wanda US TAMAMA Technology Index up 0.15%, Apple up 1%, Amazon up 0.8%, Netflix up 0.43%, Google up 0.34%, Facebook up 0.6%, Microsoft up 0.43%, and Tesla down 1.57%.
Musk's artificial intelligence startup xAI is expected to receive financing at a valuation of $18 billion as early as this week. According to previous media reports, investors such as Sequoia Capital will participate in the xAI round of financing, possibly raising $6 billion.
Musk also announced that Cybertruck's fully autonomous driving (FSD) function is expected to be launched within a few months.
The first stock in the metaverse plummeted by 22.06%
Roblox closed down 22.06% on Thursday, as the company announced its first quarter results and lowered its full year booking expectations, causing market concerns about the development of the video game industry.
Roblox lowered its annual booking forecast from $4.14 billion to between $4.1 billion and $4.1 billion, with a market expectation of $4.19 billion. At the same time, Roblox's Q2 booking amount is also far below market expectations, ranging from $855 million to $880 million, with market expectations of $934.9 million.
The first quarter data shows that the average daily active users of Roblox were 77.7 million, a year-on-year increase of 17%, the lowest growth rate since the company went public in 2021. According to previous media reports, the company has laid off hundreds of employees and closed several studios.
Gold rebounds, with strong performance from gold stocks
After the release of US unemployment data, gold accelerated its rebound. At the close of the US afternoon futures market, COMEX June gold futures rose 0.78% to $2340.3 per ounce, marking the highest level since April 29th. At the close of the US stock market, spot gold was above $2340, up over 1.5% on the day.
US gold stocks performed strongly, with Pan American silver up 10.74%, Cordillera Mining up 7.55%, Gold Rose Gold up 6.13%, Harmony Gold up 3.1%, Anglo Gold up 2.91%, Igor Mining up 2.76%, Gold Fields up 2.55%, and Barrick Gold up 1.82%.
Popular Chinese concept stocks generally rise
Popular Chinese concept stocks generally rose, with Zaiding Pharmaceutical up 26.8%, Dingdong Maicai up 10.78%, Huya Live up 7.14%, Hehuang Pharmaceutical up 6.93%, and TAL up 6.69%.
Zhonggai New Energy Vehicle stocks collectively rose, with NIO Automobile up 2.2%, Xiaopeng Automobile up 3.36%, and Ideal Automobile up 1%.
The net product revenue of Zaiding Pharmaceutical in the first quarter increased by nearly 40% year-on-year to 87.1 million US dollars; The total operating loss was 70.309 million US dollars, slightly higher than the 69.522 million US dollars in 2022.