Trending Sectors | AI, Chips Lead Gains; EVs and Crypto Shine, Oil Stumbles Amid Market Jitters

【Major U.S. Stock Indices】

The U.S. stock market presented mixed results. The S&P 500 dipped slightly by 0.19% to close at 5722.26 points; the Dow Jones fell by 0.70% to 41914.75 points; while the Nasdaq saw a slight increase of 0.04%, closing at 18082.21 points. Overall, despite a rebound in tech stocks, concerns over economic data and interest rate outlook continued to pressure the broader market.

【Performance of Leading Tech】

Among the seven tech giants, Microsoft fell by 0.19%, while Apple rose slightly by 0.51%. Apple has repurchased over $700 billion in stock over the past decade and is expected to buy back more than $90 billion in fiscal 2024. However, declining demand expectations for the iPhone 16 may negatively impact future performance. Meta's stock edged down 0.08%, although analysts expect advancements in artificial intelligence and virtual reality to raise its valuation to be on par with Apple. Amazon dropped 0.71%, despite its Prime Video business exceeding $1.8 billion in ad spending targets. Google A rose by 0.77%, with its expansion of a data center in South Carolina showing a strong commitment to cloud services. Tesla fell by 1.09%, though its progress in Cybertruck certification in Korea may open new markets.

【AI and Chip Sector】

The AI sector performed strongly, with Nvidia up by 0.43%, its market cap returning to $3 trillion. Nvidia and Micron Technology led gains, with the latter surging 14.73% due to better-than-expected earnings. SMCI dropped 12.17% due to a U.S. Department of Justice investigation. Chip equipment and materials companies such as ASML and Applied Materials also performed well, rising 4.19% and 6.23%, respectively. Intel and TSMC increased by 1.61% and 2.46%, respectively, reflecting confidence in the semiconductor industry.

【Electric Vehicle Sector】

In the electric vehicle sector, Tesla declined by 1.09%, with its market cap falling to $812.141 billion. Domestic new forces showed strong performance, with Li Auto up by 6.73% and XPeng Motors soaring 11.89%, driven by favorable Chinese policies. Traditional automakers like Toyota and Ford also performed well, increasing by 2.82% and 2.50%, respectively.

【Oil and Gold Sector】

Oil stocks generally fell, with ExxonMobil and Occidental Petroleum dropping 1.72% and 2.37%, mainly due to declining oil prices. Gold stocks showed mixed performance, with Barrick Gold up 1.50%, but Franco-Nevada down 0.92%, indicating varying demand for safe-haven assets.

【Cryptocurrency-Related Stocks】

Digital currency-related stocks generally rose, with Coinbase Global and MicroStrategy up 7.69% and 9.24%, respectively. The rise in Bitcoin prices to $65,000 boosted market sentiment.

【Other Notable Sectors and Stocks】

In retail, Walmart fell by 1.82%, while Dollar General and Dollar Tree rose 3.18% and 3.30%, respectively. Bank stocks were mixed, with Wells Fargo up 5.19% due to progress on regulatory issues. Vaccine stocks mostly rose, with Pfizer up 0.14% and BioNTech up 1.59%. Investors should focus on earnings announcements and policy changes for potential impacts.

【Investor Advice】

Given the market's sensitivity to economic data and industry dynamics, attention to policy changes and company fundamentals is advised. The tech and chip sectors may continue to be strong, driven by AI demand, but investors should remain cautious, closely monitoring macroeconomic data and policy changes affecting the market.