Trending Sectors | Tech, AI, EVs, and Oil Stocks Surge; Cryptos and Meme Stocks Shine Bright

【Major U.S. Stock Indices】

The three major U.S. stock indices closed higher, with the Dow Jones Industrial Average rising 1.14% to close at 40,712.78 points, the S&P 500 increasing by 1.15% to 5,570.64 points, and the Nasdaq Composite climbing 1.47% to 17,619.35 points. Overall, market sentiment was optimistic, particularly driven by broad gains in the tech sector. Market strategists believe Federal Reserve Chairman Powell's speech suggesting potential rate cuts boosted investor confidence.

【Performance of Leading Tech】

Among the seven major tech stocks, NVIDIA was the standout performer, rising 4.55% and surpassing a market cap of $3.18 trillion. Microsoft increased by 0.30%, despite plans by its executives to sell some shares, with market expectations high for its cybersecurity activities. Apple rose 1.03%, with its upcoming iPhone 16 release and delayed foldable MacBook generating buzz. Amazon climbed 0.52%, with its ad business growth and "moat" effect recognized by the market, despite insider stock sales. Alphabet's Google A increased by 1.11%, driven by market expectations for its AI competitiveness following the appointment of a new AI leader. Meta slightly declined by 0.74%, potentially impacted by the cancellation of its mixed-reality device. Tesla surged 4.59%, buoyed by its supercharger network expansion in China and progress in the Neuralink project, boosting investor confidence.

【AI and Semiconductor Sector Performance】

In the AI and chip sector, NVIDIA continued to lead with a 4.55% gain, with market strategists generally optimistic about its long-term performance. SMIC rose 1.39%, Arm Holdings increased by 4.56%, while Micron Technology fell by 1.35%. NVIDIA's strong performance also lifted related stocks, with AMD rising 2.16%, Qualcomm up 2.66%, and Intel gaining 2.19%. The semiconductor manufacturing sector was strong, with TSMC up 2.91% and Intel rising 2.19%. In semiconductor equipment and materials, ASML slipped 0.05%, while Applied Materials rose 1.23%. In chip design, Broadcom increased by 2.48%, Synopsys fell 1.58%, and Texas Instruments rose 3.00%.

【Electric Vehicles, Weight Loss Drugs, and Oil Stocks Performance】

In the EV sector, Tesla climbed 4.59%, with its market cap recovering to $703.843 billion. Chinese EV makers mostly fell, with Li Auto down 0.61%, NIO up 2.26%, Xpeng up 1.45%, and Zeekr down 5.76%. Traditional automakers performed well, with Toyota up 1.98%, General Motors rising 4.54%, and Ford increasing by 3.21%. In the weight loss drug sector, Eli Lilly fell 0.17%, Novo Nordisk rose 0.07%, AstraZeneca rose 0.90%, Amgen increased by 1.32%, GlaxoSmithKline gained 1.62%, Biogen rose 0.83%, and Viking Therapeutics increased by 0.44%. Oil stocks saw broad gains, with ExxonMobil up 1.39%, Occidental Petroleum rising 2.03%, and Chevron up 1.30%.

【Gold Stocks, Cryptocurrencies, and Meme Stocks Performance】

Gold stocks broadly rose, with LBMA Gold PM up 1.16%, Barrick Gold up 1.28%, Newmont rising 1.23%, and Franco-Nevada up 1.33%. Cryptocurrency-related stocks surged, with Coinbase Global up 6.54%, MicroStrategy rising 12.11%, Riot Platforms up 5.59%, and Marathon Digital increasing by 10.85%. Meme stocks broadly gained, with AMC Theatres up 2.64% and GameStop rising 0.41%.

【Other Sectors Performance】

Retail stocks were mixed, with Walmart up 0.16%, Costco increasing by 0.19%, Home Depot rising 2.80%, Target up 1.07%, Dollar General up 0.29%, and Dollar Tree down 0.98%. Bank stocks broadly rose, with JPMorgan Chase up 0.78%, Bank of America increasing by 1.35%, Wells Fargo up 1.32%, Morgan Stanley rising 1.32%, Goldman Sachs up 2.34%, and Citigroup increasing by 2.85%. Vaccine stocks broadly gained, with Pfizer up 0.42%, Moderna rising 1.73%, BioNTech up 1.10%, and Novavax increasing by 0.25%.

【Investor Advice】

Overall, the U.S. stock market showed strength, particularly with robust performance in the tech and semiconductor sectors injecting vitality into the market. Investors might focus on leading tech stocks benefiting from long-term AI and cloud computing expenditures, while closely monitoring the Federal Reserve's policy changes for market sentiment impacts. For those with higher risk tolerance, allocating to cryptocurrencies and meme stocks could be considered, but market volatility risks should be noted.