Trending Sectors | AI and EVs Surge Amid Mixed Pharma, Oil, and Crypto Gains; Financials Show Resilience
Thursday, Oct 24, 2024 5:30 pm ET
2min read 【Major U.S. Stock Indices】
The three major U.S. stock indices all closed lower. The S&P 500 fell 0.92% to 5,797.42, the Dow Jones decreased 0.96% to 42,514.95, and the Nasdaq dropped 1.63% to 18,276.65. This was primarily due to volatility in tech stocks and macroeconomic uncertainties. Investors remain cautious about corporate earnings during the earnings season.
【Performance of Leading Tech】
Microsoft edged up 0.03%, Apple slightly decreased 0.08%, NVIDIA rose 0.61%, Amazon increased 0.90%, Alphabet A slightly fell 0.04%, Meta rose 0.73%, and Tesla surged 21.92%. Microsoft CEO Satya Nadella's significant pay increase drew attention, Apple's upcoming AI features and M4 chip are highly anticipated. NVIDIA's AI business showed strong growth, Amazon's stock rose on positive holiday season spending forecasts, Alphabet faces antitrust investigation pressures, Meta achieved breakthroughs in AR technology, and Tesla's performance exceeded expectations, boosting its market value significantly.
【AI and Semiconductor Sector】
The AI sector overall rose, with NVIDIA up 0.61%, SMCI up 1.92%, and Micron Technology up 1.71%. NVIDIA's collaboration with Indian tech giants on AI infrastructure indicates its global expansion plans. In the semiconductor sector, Intel's victory in the EU antitrust case led to a 1.64% rise in its stock, while TSMC fell 1.46%. ASML slightly increased 0.31% due to U.S. sales restrictions to China.
【Electric Vehicles and New Energy】
In the electric vehicle sector, Tesla's strong performance led to a 21.92% increase. Domestic newcomers mostly fell, with NIO down 4.05% and XPeng down 6.18%, but Zeekr rose 4.33%. Competition in the new energy vehicle market is intensifying, with new technologies and product releases in focus.
【Weight Loss Drugs and Pharmaceuticals】
Weight loss drug stocks generally declined, with Novo Nordisk and AstraZeneca down 1.56% and 1.37% respectively. However, Viking Therapeutics surged 21.25% due to upcoming weight loss drug data. The overall pharmaceutical sector showed mixed results, with vaccine stocks like Pfizer and Moderna performing weakly.
【Oil and Gold Sector】
The oil sector was mixed, with ExxonMobil and Chevron slightly down. OPEC+ policy uncertainties increased market volatility. In the gold sector, Newmont's significant 14.70% drop dragged down the sector's performance, amid heightened concerns over global economic uncertainty and inflation.
【Cryptocurrency and Meme Stocks】
Cryptocurrency stocks generally rose, with Bitcoin's gains driving Coinbase up 5.14% and MicroStrategy up 10.25%. Meme stocks like AMC rose 2.83%, with positive investor sentiment.
【Bank and Financial Sector】
Bank stocks showed mixed performance, with JPMorgan and Wells Fargo rising 0.70% and 1.35% respectively. Uncertainties from the U.S. election significantly impacted the financial market.
【Investor Advice】
The current market is influenced by multiple factors, and investors should focus on corporate earnings and changes in macroeconomic policies. Amid heightened tech stock volatility, attention should be given to companies with long-term growth potential, while also noting investment opportunities from sector rotations.
The three major U.S. stock indices all closed lower. The S&P 500 fell 0.92% to 5,797.42, the Dow Jones decreased 0.96% to 42,514.95, and the Nasdaq dropped 1.63% to 18,276.65. This was primarily due to volatility in tech stocks and macroeconomic uncertainties. Investors remain cautious about corporate earnings during the earnings season.
【Performance of Leading Tech】
Microsoft edged up 0.03%, Apple slightly decreased 0.08%, NVIDIA rose 0.61%, Amazon increased 0.90%, Alphabet A slightly fell 0.04%, Meta rose 0.73%, and Tesla surged 21.92%. Microsoft CEO Satya Nadella's significant pay increase drew attention, Apple's upcoming AI features and M4 chip are highly anticipated. NVIDIA's AI business showed strong growth, Amazon's stock rose on positive holiday season spending forecasts, Alphabet faces antitrust investigation pressures, Meta achieved breakthroughs in AR technology, and Tesla's performance exceeded expectations, boosting its market value significantly.
【AI and Semiconductor Sector】
The AI sector overall rose, with NVIDIA up 0.61%, SMCI up 1.92%, and Micron Technology up 1.71%. NVIDIA's collaboration with Indian tech giants on AI infrastructure indicates its global expansion plans. In the semiconductor sector, Intel's victory in the EU antitrust case led to a 1.64% rise in its stock, while TSMC fell 1.46%. ASML slightly increased 0.31% due to U.S. sales restrictions to China.
【Electric Vehicles and New Energy】
In the electric vehicle sector, Tesla's strong performance led to a 21.92% increase. Domestic newcomers mostly fell, with NIO down 4.05% and XPeng down 6.18%, but Zeekr rose 4.33%. Competition in the new energy vehicle market is intensifying, with new technologies and product releases in focus.
【Weight Loss Drugs and Pharmaceuticals】
Weight loss drug stocks generally declined, with Novo Nordisk and AstraZeneca down 1.56% and 1.37% respectively. However, Viking Therapeutics surged 21.25% due to upcoming weight loss drug data. The overall pharmaceutical sector showed mixed results, with vaccine stocks like Pfizer and Moderna performing weakly.
【Oil and Gold Sector】
The oil sector was mixed, with ExxonMobil and Chevron slightly down. OPEC+ policy uncertainties increased market volatility. In the gold sector, Newmont's significant 14.70% drop dragged down the sector's performance, amid heightened concerns over global economic uncertainty and inflation.
【Cryptocurrency and Meme Stocks】
Cryptocurrency stocks generally rose, with Bitcoin's gains driving Coinbase up 5.14% and MicroStrategy up 10.25%. Meme stocks like AMC rose 2.83%, with positive investor sentiment.
【Bank and Financial Sector】
Bank stocks showed mixed performance, with JPMorgan and Wells Fargo rising 0.70% and 1.35% respectively. Uncertainties from the U.S. election significantly impacted the financial market.
【Investor Advice】
The current market is influenced by multiple factors, and investors should focus on corporate earnings and changes in macroeconomic policies. Amid heightened tech stock volatility, attention should be given to companies with long-term growth potential, while also noting investment opportunities from sector rotations.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
