Trending Sectors | Tech Surge and Bank Strength, EVs and Crypto Falter: Key Sector Performances for Investors
Wednesday, Aug 14, 2024 5:31 pm ET
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【Major U.S. Stock Indices】
On August 13, the major U.S. stock indices closed with gains. The S&P 500 Index rose 1.68%, ending at 5434.43 points; the Dow Jones Industrial Average increased by 1.04%, closing at 39765.64 points; and the Nasdaq Composite Index performed the best, climbing 2.43% to finish at 17187.61 points. Overall, the market was driven higher by tech stocks, with investors holding a relatively optimistic view of the economic outlook.
【Performance of Leading Tech】
Among the seven major tech companies, Microsoft rose 0.69%, Apple was up 0.20%, Nvidia increased by 1.67%, Amazon slightly dipped by 0.08%, Alphabet A fell 2.31%, Meta decreased by 0.34%, and Tesla saw a significant drop of 3.10%. The rises in Microsoft and Apple are linked to the substantial holdings of Norway's sovereign wealth fund, which had Apple, Microsoft, and Nvidia as its top three holdings at the end of the first half of the year. Additionally, Nvidia saw a four-day rally, climbing a cumulative 17%, driven by investors buying ahead of its financial report. Conversely, Alphabet's stock was pressured by the potential risk of a breakup by the U.S. Department of Justice. Despite its rapid growth, Tesla's stock remained the only one among the seven giants to decline.
【AI and Semiconductor Sector Performance】
In the AI sector, Nvidia continued to lead, with a four-day cumulative gain of over 17%, reaching a market value of $2.90 trillion. Nvidia's rally boosted related stocks, with SMIC up 1.70%, Arm Holdings rising 1.72%, and Micron Technology gaining 3.05%. However, AI PC-related stocks showed mixed performance, with Nvidia and Micron Technology continuing to rise, while AMD and Intel fell by 0.27% and 2.69%, respectively.In the semiconductor manufacturing sector, TSMC fell 1.38% and Intel was down 2.69%. In the semiconductor equipment and materials sector, ASML rose 1.16%, Applied Materials increased by 0.41%, and Lam Research went up 0.54%. In the chip design sector, Broadcom rose 0.98%, Synopsys increased by 0.41%, Texas Instruments fell 0.83%, and Arm Holdings rose 1.72%.
【Electric Vehicles, Weight Loss Drugs, Oil Stocks, Gold Stocks, Cryptocurrency Stocks, and Meme Stocks】
The electric vehicle sector mostly declined, with Tesla down 3.10%, Li Auto, NIO, and XPeng down 3.04%, 4.37%, and 4.16%, respectively. In contrast, traditional car manufacturers performed better, with Toyota Motor up 2.68%, General Motors up 0.67%, and Ford Motor up 0.39%.In the weight loss drug sector, Eli Lilly rose 2.46%, Novo Nordisk increased by 0.64%, AstraZeneca was up 0.47%, while Amgen and Biogen fell by 0.22% and 1.70%, respectively.Oil stocks showed mixed performance, with ExxonMobil up 0.92%, Occidental Petroleum down 0.90%, and Chevron up 0.36%.Cryptocurrency stocks mostly declined, with Coinbase Global down 1.00%, MicroStrategy down 3.70%, Riot Platforms down 2.42%, and Marathon Digital down 2.26%.In the meme stocks segment, AMC Entertainment fell 0.58%, and GameStop dropped 1.26%.Gold stocks were mixed, with LBMA Gold Price PM down 0.82%, Barrick Gold up 0.16%, Newmont up 0.24%, and Franco-Nevada plunging 6.42%.
【Other Noteworthy Sectors or Specific Stocks】
Retail stocks showed mixed performance. Walmart rose 0.78%, Costco fell 0.24%, Home Depot rose 1.60%, Target fell 0.66%, Dollar General fell 0.26%, and Dollar Tree fell 0.09%.Bank stocks overall performed well, with JPMorgan Chase up 1.11%, Bank of America up 0.91%, Wells Fargo up 1.49%, Morgan Stanley up 2.82%, Goldman Sachs up 1.37%, and Citigroup up 1.94%.Vaccine stocks showed mixed performance, with Pfizer up 0.10%, Moderna down 0.78%, BioNTech up 2.43%, and Novavax up 0.25%.
【Investor Advice】
Overall, the U.S. stock market has shown strong performance driven by sectors like tech and banking, though there are disparities among different sectors and individual stocks. Investors should remain cautious in the current market environment, keeping a close eye on the dynamics of tech stocks, especially those related to AI and semiconductors. Traditional automotive and banking stocks, showing relative stability, can be considered for risk diversification. Stay attentive to market changes and economic data releases to timely adjust investment portfolios.
On August 13, the major U.S. stock indices closed with gains. The S&P 500 Index rose 1.68%, ending at 5434.43 points; the Dow Jones Industrial Average increased by 1.04%, closing at 39765.64 points; and the Nasdaq Composite Index performed the best, climbing 2.43% to finish at 17187.61 points. Overall, the market was driven higher by tech stocks, with investors holding a relatively optimistic view of the economic outlook.
【Performance of Leading Tech】
Among the seven major tech companies, Microsoft rose 0.69%, Apple was up 0.20%, Nvidia increased by 1.67%, Amazon slightly dipped by 0.08%, Alphabet A fell 2.31%, Meta decreased by 0.34%, and Tesla saw a significant drop of 3.10%. The rises in Microsoft and Apple are linked to the substantial holdings of Norway's sovereign wealth fund, which had Apple, Microsoft, and Nvidia as its top three holdings at the end of the first half of the year. Additionally, Nvidia saw a four-day rally, climbing a cumulative 17%, driven by investors buying ahead of its financial report. Conversely, Alphabet's stock was pressured by the potential risk of a breakup by the U.S. Department of Justice. Despite its rapid growth, Tesla's stock remained the only one among the seven giants to decline.
【AI and Semiconductor Sector Performance】
In the AI sector, Nvidia continued to lead, with a four-day cumulative gain of over 17%, reaching a market value of $2.90 trillion. Nvidia's rally boosted related stocks, with SMIC up 1.70%, Arm Holdings rising 1.72%, and Micron Technology gaining 3.05%. However, AI PC-related stocks showed mixed performance, with Nvidia and Micron Technology continuing to rise, while AMD and Intel fell by 0.27% and 2.69%, respectively.In the semiconductor manufacturing sector, TSMC fell 1.38% and Intel was down 2.69%. In the semiconductor equipment and materials sector, ASML rose 1.16%, Applied Materials increased by 0.41%, and Lam Research went up 0.54%. In the chip design sector, Broadcom rose 0.98%, Synopsys increased by 0.41%, Texas Instruments fell 0.83%, and Arm Holdings rose 1.72%.
【Electric Vehicles, Weight Loss Drugs, Oil Stocks, Gold Stocks, Cryptocurrency Stocks, and Meme Stocks】
The electric vehicle sector mostly declined, with Tesla down 3.10%, Li Auto, NIO, and XPeng down 3.04%, 4.37%, and 4.16%, respectively. In contrast, traditional car manufacturers performed better, with Toyota Motor up 2.68%, General Motors up 0.67%, and Ford Motor up 0.39%.In the weight loss drug sector, Eli Lilly rose 2.46%, Novo Nordisk increased by 0.64%, AstraZeneca was up 0.47%, while Amgen and Biogen fell by 0.22% and 1.70%, respectively.Oil stocks showed mixed performance, with ExxonMobil up 0.92%, Occidental Petroleum down 0.90%, and Chevron up 0.36%.Cryptocurrency stocks mostly declined, with Coinbase Global down 1.00%, MicroStrategy down 3.70%, Riot Platforms down 2.42%, and Marathon Digital down 2.26%.In the meme stocks segment, AMC Entertainment fell 0.58%, and GameStop dropped 1.26%.Gold stocks were mixed, with LBMA Gold Price PM down 0.82%, Barrick Gold up 0.16%, Newmont up 0.24%, and Franco-Nevada plunging 6.42%.
【Other Noteworthy Sectors or Specific Stocks】
Retail stocks showed mixed performance. Walmart rose 0.78%, Costco fell 0.24%, Home Depot rose 1.60%, Target fell 0.66%, Dollar General fell 0.26%, and Dollar Tree fell 0.09%.Bank stocks overall performed well, with JPMorgan Chase up 1.11%, Bank of America up 0.91%, Wells Fargo up 1.49%, Morgan Stanley up 2.82%, Goldman Sachs up 1.37%, and Citigroup up 1.94%.Vaccine stocks showed mixed performance, with Pfizer up 0.10%, Moderna down 0.78%, BioNTech up 2.43%, and Novavax up 0.25%.
【Investor Advice】
Overall, the U.S. stock market has shown strong performance driven by sectors like tech and banking, though there are disparities among different sectors and individual stocks. Investors should remain cautious in the current market environment, keeping a close eye on the dynamics of tech stocks, especially those related to AI and semiconductors. Traditional automotive and banking stocks, showing relative stability, can be considered for risk diversification. Stay attentive to market changes and economic data releases to timely adjust investment portfolios.