Trending Sectors | Tech Giants Steady, AI & Chips Surge, EVs Compete, Oil and Crypto Stocks Climb

【Major U.S. Stock Indices】

In the trading session on October 7, Eastern Time, all three major U.S. stock indices recorded declines. The S&P 500 fell 0.38% to close at 6714.59 points; the Dow Jones Industrial Average decreased by 0.20%, closing at 46602.98 points; and the Nasdaq dropped 0.67% to finish at 22788.36 points. The market exhibited a generally weak trend, with investors showing caution ahead of upcoming economic data and corporate earnings reports, resulting in increased market volatility.

【Performance of Leading Tech】

Among tech giants, Microsoft and Alphabet Class A rose by 2.17% and 2.07%, respectively, supporting the relative strength of the technology sector. Tesla performed excellently, rising 5.45%, partly due to market optimism about its continued leadership in the electric vehicle market. Apple saw a slight decline of 0.52%, while Meta and Amazon posted small gains of 0.72% and 0.63%, respectively. Nvidia dropped 1.11%, marking its second consecutive decline. Overall, despite declines in some companies, the tech giants showed relatively stable performance, with investors remaining confident about the long-term prospects of major tech firms.

【AI and Chip Sector Review】

In the AI sector, despite Nvidia's 1.11% decline, its concept stocks like SMCI and Arm Holdings rose by 5.12% and 2.35%, respectively. In the chip manufacturing field, TSMC increased by 3.49%, reflecting market recognition of its position in the global semiconductor supply chain. Chip equipment and materials companies generally saw gains, with Applied Materials up 2.93%. The market is optimistic about the long-term demand for AI and the chip industry, despite potential short-term fluctuations.

【Electric Vehicle Sector Performance】

In the electric vehicle sector, Tesla showed strong performance with a 5.45% surge, reaffirming its leadership in the EV market. Domestic EV manufacturers showed mixed results, with Li Auto and XPeng rising by 0.36% and 2.43%, respectively, while NIO fell by 1.43%. Among traditional automakers, Toyota rose by 2.36%, but General Motors dropped by 3.23%. Overall, competition in the EV market is intensifying, and investors need to monitor industry dynamics and policy changes affecting various companies.

【Oil and Other Sectors】

Oil stocks generally rose, with ExxonMobil and Occidental Petroleum increasing by 0.83% and 1.23%, respectively. Recent oil price increases have provided support for oil companies. Cryptocurrency-related stocks also saw broad gains, with Riot Platforms and MARA Holdings surging 10.91% and 9.30%, respectively. However, meme stocks overall declined, with AMC Entertainment dropping by 5.23%.

【Other Sector Dynamics】

Retail stocks showed mixed performance, with Walmart up 0.62%, but Home Depot and Dollar General down by 1.45% and 2.08%, respectively. Bank stocks also varied, with Goldman Sachs up 0.86%, while JPMorgan Chase slipped 0.27%. Vaccine stocks generally fell, with Pfizer and Moderna down by 3.43% and 3.33%, respectively, reflecting market concerns about the short-term profitability of vaccine companies.

【Market Summary and Recommendations】

Overall, the market is showing some uncertainty, primarily influenced by upcoming economic data and corporate earnings. Investors should remain cautious and pay attention to fundamental changes and policy guidance in various sectors. While the tech and chip sectors may experience significant short-term fluctuations, their long-term growth potential remains noteworthy. Investors should allocate assets according to their risk tolerance and maintain portfolio diversity.