Trending Sectors | Tech, AI, EVs, Oil, Gold, and Crypto: A Detailed Look at Sector-Wide Performance

【Major U.S. Stock Indices】

The U.S. stock market showed weakness, with all three major indices closing lower. The S&P 500 Index fell 0.6% to close at 4360.04 points; the Dow Jones Industrial Average dropped 0.39% to close at 34348.57 points; the Nasdaq Composite decreased 1.12% to close at 13463.97 points. Overall, market sentiment was cautious, and the widespread decline in tech stocks further dragged down the major indices.

【Performance of Leading Tech】

Most of the Big Seven tech stocks declined. Microsoft (MSFT) fell 0.8%, mainly following the overall market downturn. News of OpenAI's valuation exceeding $100 billion in financing talks did not alleviate pressure on Microsoft's stock price. Apple (AAPL) dropped 0.68%, despite the company’s upcoming launch of its first AI iPhone, as market sentiment remained pessimistic. Google (GOOG) fell 1.11%, affected by a lawsuit from Yelp alleging it abused its monopoly position. Amazon (AMZN) declined 1.34%, with the release of its AWS parallel computing service failing to boost its stock price. Meta (META) fell 0.45%, even though the company is developing new mixed reality glasses. Tesla (TSLA) plunged 3.02%, as market attention on its automotive and robotics business waned, compounded by news of CEO Elon Musk's deepening involvement in a presidential campaign, which added uncertainty. Nvidia (NVDA) dropped 2.10%, despite the release of strong earnings, as concerns over the sustainability of its future growth persisted.

【AI and Semiconductor Sector】

The AI and semiconductor sectors performed poorly overall. Nvidia (NVDA), despite announcing quarterly revenues of $30 billion, a 122% year-over-year increase, fell 2.10%, mainly due to concerns about overextended customer adoption leading to a bubble. SMIC (AMD) plummeted 19.02%, hit by a bearish report and the delay in its 10-K filing. Micron Technology (MU) dropped 3.07%, despite announcing the acquisition of a new wafer testing facility. Intel (INTC) fell 2.29%, although it released new Xeon processors. TSMC (TSM) fell 0.79%, despite strong sales of its 3nm and 5nm process technologies. ASML (ASML) dropped 0.20%, even though it received a buy rating.

【Electric Vehicles and Weight Loss Drugs】

The electric vehicle sector saw widespread declines. Tesla (TSLA) fell 1.65%, while among Chinese EV startups, Li Auto (LI) plunged 16.12%, Nio (NIO) dropped 7.50%, Xpeng (XPEV) fell 9.00%, and Zeekr fell 9.85%, mainly due to poor performance and profit pressures. In the weight loss drugs sector, Eli Lilly (LLY) and Novo Nordisk (NVO) fell 0.58% and 0.52%, respectively, while AstraZeneca (AZN) and Amgen (AMGN) saw slight gains of 0.17% and 0.78%, respectively.

【Oil and Gold Sectors】

Oil stocks broadly declined. Exxon Mobil (XOM) fell 0.99%, Occidental Petroleum (OXY) dipped 0.11%, and Chevron (CVX) dropped 0.65%, mainly due to oil price volatility and arbitrage trading risks. In the gold sector, Barrick Gold (GOLD) fell 2.44%, Newmont (NEM) dropped 1.65%, and Franco-Nevada (FNV) declined 1.76%, primarily impacted by a rebound in the U.S. dollar.

【Cryptocurrency and Meme Stocks】

Cryptocurrency-related stocks fell sharply. Coinbase Global (COIN) declined 4.08%, Microstrategy (MSTR) dropped 5.66%, Riot Platforms (RIOT) fell 3.29%, and Marathon Digital (MARA) decreased 3.49%, mainly due to a drop in Bitcoin prices. Among meme stocks, AMC Entertainment (AMC) fell 5.01%, and GameStop (GME) dropped 4.05%, primarily due to declining market interest.

【Other Notable Sectors】

Retail stocks generally declined. Walmart (WMT) edged down 0.07%, Costco (COST) fell 2.29%, Home Depot (HD) dropped 0.13%, Target (TGT) fell 1.15%, Dollar General (DG) dropped 1.02%, and Dollar Tree (DLTR) fell 0.99%. Bank stocks were mixed, with JPMorgan Chase (JPM) rising 0.50%, Bank of America (BAC) gaining 0.71%, Wells Fargo (WFC) increasing 1.44%, Morgan Stanley (MS) edging up 0.12%, while Goldman Sachs (GS) fell 0.77% and Citigroup (C) dipped 0.16%. In the vaccine sector, Pfizer (PFE) edged down 0.24%, Moderna (MRNA) fell 0.79%, BioNTech (BNTX) rose 1.25%, and Novavax (NVAX) dropped 0.18%.

【Investment Advice】

Overall, market sentiment remains conservative, with widespread declines in tech stocks and uncertainties in economic data contributing to increased market volatility. Investors should remain cautious, closely monitoring the fundamentals of leading companies, particularly in terms of earnings reports and business developments. Additionally, consider adjusting investment portfolios to align with market trends and policy expectations to diversify risk.