Trending Sectors | Tech Giants and EVs Surge, AI Chips Gain, Weight Loss and Oil Stocks Mixed
Friday, Oct 25, 2024 5:30 pm ET
2min read 【Major U.S. Stock Indices】
The U.S. stock market showed mixed results, with the S&P 500 slightly rising 0.21% to 5809.86 points. The Dow Jones fell 0.33% to 42374.36 points, while the Nasdaq performed strongly, increasing 0.76% to 18415.49 points. The market showed divergence, driven by tech stocks, as investors remained cautious ahead of the tech earnings season.
【Performance of Leading Tech】
The top seven tech giants all moved higher. Microsoft rose 0.81% as investors anticipated its upcoming earnings report. Apple increased by 0.36% with attention on its new Mac and AI features. Amazon went up 0.78% despite a leadership change in its grocery business, maintaining overall stability. Google A gained 1.57%, fueled by plans to release the next-generation Gemini model. Meta climbed 0.96% with positive expectations for advertising revenue. Tesla surged 3.34% following a strong earnings report, exciting the market.
【AI and Chip Sector】
The AI and chip sector saw robust gains. Nvidia rose 0.80% with its collaboration with an Indian tech giant boosting its market value. SMCI, Arm, and Micron Technology also climbed, driven by inter-company collaborations and technological advancements. TSMC jumped 2.78% amid heightened expectations of a price increase next year. Chip equipment and material stocks like ASML and Applied Materials also performed well.
【Electric Vehicle Sector】
The EV sector shone brightly, with Tesla rising for two consecutive days and its market cap recovering significantly. Domestic newcomers like Li Auto, Nio, Xpeng, and Zeekr all saw substantial gains, with Zeekr nearing a 25% increase. Traditional automakers performed poorly, with both GM and Ford experiencing declines.
【Weight Loss Drug Stocks】
Weight loss drug stocks were mixed. Viking Therapeutics surged 6.57% with optimistic market outlooks for its future. In contrast, companies like Novo Nordisk and Biogen saw declines as market doubts about their business prospects persisted.
【Oil and Gold Stocks】
Oil stocks were mixed, with ExxonMobil slightly down 0.08%, while Occidental Petroleum and Chevron saw small gains. Gold stocks also showed mixed performances, with Barrick Gold experiencing a significant drop amidst varying market expectations for gold prices.
【Crypto and Meme Stocks】
Digital currency concept stocks generally fell, with Coinbase and Microstrategy declining and Riot Platforms seeing a larger drop. Meme stocks like AMC and GameStop were not spared, with enthusiasm in the market fading.
【Retail and Banking Stocks】
Retail stocks showed divergence, with Target rising against the trend, while Walmart and Costco fell. Banking stocks generally declined, with major firms like JPMorgan and Goldman Sachs under pressure as concerns about the economic outlook intensified.
【Vaccine Stocks】
Vaccine stocks were mixed, with Moderna up 0.55%, while Pfizer and BioNTech both fell. There were differing views on the future earnings performance of vaccine companies.
【Investment Advice】
Investors should focus on the earnings performance of the leading tech giants, particularly the latest moves by Microsoft and Apple. Additionally, the EV and chip sectors may continue to benefit from technological advancement and market demand. For the more volatile cryptocurrency and meme stocks, a cautious holding strategy is advised.
The U.S. stock market showed mixed results, with the S&P 500 slightly rising 0.21% to 5809.86 points. The Dow Jones fell 0.33% to 42374.36 points, while the Nasdaq performed strongly, increasing 0.76% to 18415.49 points. The market showed divergence, driven by tech stocks, as investors remained cautious ahead of the tech earnings season.
【Performance of Leading Tech】
The top seven tech giants all moved higher. Microsoft rose 0.81% as investors anticipated its upcoming earnings report. Apple increased by 0.36% with attention on its new Mac and AI features. Amazon went up 0.78% despite a leadership change in its grocery business, maintaining overall stability. Google A gained 1.57%, fueled by plans to release the next-generation Gemini model. Meta climbed 0.96% with positive expectations for advertising revenue. Tesla surged 3.34% following a strong earnings report, exciting the market.
【AI and Chip Sector】
The AI and chip sector saw robust gains. Nvidia rose 0.80% with its collaboration with an Indian tech giant boosting its market value. SMCI, Arm, and Micron Technology also climbed, driven by inter-company collaborations and technological advancements. TSMC jumped 2.78% amid heightened expectations of a price increase next year. Chip equipment and material stocks like ASML and Applied Materials also performed well.
【Electric Vehicle Sector】
The EV sector shone brightly, with Tesla rising for two consecutive days and its market cap recovering significantly. Domestic newcomers like Li Auto, Nio, Xpeng, and Zeekr all saw substantial gains, with Zeekr nearing a 25% increase. Traditional automakers performed poorly, with both GM and Ford experiencing declines.
【Weight Loss Drug Stocks】
Weight loss drug stocks were mixed. Viking Therapeutics surged 6.57% with optimistic market outlooks for its future. In contrast, companies like Novo Nordisk and Biogen saw declines as market doubts about their business prospects persisted.
【Oil and Gold Stocks】
Oil stocks were mixed, with ExxonMobil slightly down 0.08%, while Occidental Petroleum and Chevron saw small gains. Gold stocks also showed mixed performances, with Barrick Gold experiencing a significant drop amidst varying market expectations for gold prices.
【Crypto and Meme Stocks】
Digital currency concept stocks generally fell, with Coinbase and Microstrategy declining and Riot Platforms seeing a larger drop. Meme stocks like AMC and GameStop were not spared, with enthusiasm in the market fading.
【Retail and Banking Stocks】
Retail stocks showed divergence, with Target rising against the trend, while Walmart and Costco fell. Banking stocks generally declined, with major firms like JPMorgan and Goldman Sachs under pressure as concerns about the economic outlook intensified.
【Vaccine Stocks】
Vaccine stocks were mixed, with Moderna up 0.55%, while Pfizer and BioNTech both fell. There were differing views on the future earnings performance of vaccine companies.
【Investment Advice】
Investors should focus on the earnings performance of the leading tech giants, particularly the latest moves by Microsoft and Apple. Additionally, the EV and chip sectors may continue to benefit from technological advancement and market demand. For the more volatile cryptocurrency and meme stocks, a cautious holding strategy is advised.
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.
