Trending Sectors | Tech and AI Surge as Weight Loss Drugs Plummet, Oil and Retail Show Resilience

【Major U.S. Stock Indices】

On July 29 (Tuesday), Eastern Time, major U.S. stock indices closed lower. The S&P 500 decreased by 0.30%, closing at 6370.86 points; the Dow Jones dropped by 0.46%, at 44632.99 points; and the Nasdaq fell by 0.38%, at 21098.29 points. Following the release of a series of economic data and corporate earnings reports, investor sentiment appeared cautious, with ongoing concerns about the economic outlook. Additionally, expectations regarding the future direction of the Federal Reserve's monetary policy continue to impact index fluctuations.

【Performance of Leading Tech】

Among the seven tech giants, Tesla led the gains with a rise of 3.02%, marking its second consecutive day of growth, with market capitalization rebounding to $1.036 trillion. Apple saw a slight increase of 0.08%, while Microsoft and Alphabet A both experienced minor declines of 0.24% and 0.31%, respectively. Meta rose by 0.69%, performing well in the competitive social media market. Amazon's 0.58% increase indicates its continued strength in e-commerce. Nvidia's 1.87% rise largely benefited from its robust performance in the AI sector. Recent news suggests that the tech giants' strategies and innovations across various fields remain a focal point for market attention.

【AI and Chip Sector】

In the AI sector, Nvidia increased by 1.87%, driving the rise of related concept stocks. Notably, SMCI surged by 10.24%, demonstrating strong market recognition of its AI chip products. The chip manufacturing sector showed divergence, with TSMC falling by 1.16%, while equipment and materials companies like ASML and Applied Materials rose by 2.63% and 2.47%, respectively. Despite overall economic uncertainties, innovation and demand growth in the AI and semiconductor industries remain strong.

【Electric Vehicles, Weight Loss Drugs, and Other Sectors】

In the electric vehicle sector, Tesla's strong performance stood out, while domestic newcomers such as Li Auto and NIO generally declined. In the weight loss drug sector, Novo Nordisk plummeted by 21.84%, and Eli Lilly dropped by 5.56%, possibly due to revised market expectations for future growth. Oil stocks broadly rose, with ExxonMobil up by 0.94%, benefiting from the short-term increase in oil prices. Digital currency stocks mostly fell, with Coinbase Global down by 3.11%, reflecting concerns over cryptocurrency volatility.

【Other Sector Performances】

In other noteworthy sectors, gold stocks mostly declined, indicating a reduced demand for safe-haven assets. Bank stocks generally fell, with JPMorgan Chase down by 0.11%, likely influenced by the current interest rate environment and economic outlook uncertainty. Retail stocks showed divergence, with Walmart and Home Depot slightly rising by 0.14% and 0.50%, respectively.

【Market Summary and Advice】

In summary, the U.S. stock market was influenced by multiple factors and displayed overall weakness. Investors should continue to pay attention to the Federal Reserve's policy directions and the impact of corporate earnings on the market. In the current economic environment, tech stocks, particularly companies with innovation capabilities, have better growth prospects, while traditional industries face more challenges. Investors might consider seeking investment opportunities in the tech and semiconductor sectors while remaining vigilant about market volatility.