Trending Sectors | Tech Titans and Semiconductor Surges Lead US Stock Gains, EV and Retail Also Shine
AInvestThursday, Aug 15, 2024 5:31 pm ET
2min read
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【Major U.S. Stock Indices】

In the latest trading session, the three major U.S. stock indices collectively closed higher. The Dow Jones Industrial Average rose by 1.39%, closing at 40,008.39 points; the S&P 500 Index increased by 1.61%, ending at 5,455.21 points; and the Nasdaq Index saw the largest gain, up 2.34% to finish at 17,192.60 points. Overall market sentiment was positive, with tech stocks particularly shining, driving the broader market upward.

【Performance of Leading Tech】

The leading seven tech stocks all posted gains. Microsoft rose by 1.00%, Apple increased by 1.35%, NVIDIA surged by 4.05%, Amazon climbed by 4.40%, Google A went up by 0.58%, Meta advanced by 2.01%, and Tesla soared by 6.34%. Notably, Apple rose for the seventh consecutive trading day, with options market volume reaching 910,100 contracts and open interest at 6.788 million contracts. Amazon's stock rose by 4.40% due to the UK's selection of its drone delivery project. Tesla's significant 6.34% increase was driven by progress in its FSD V12 software and market optimism about future technology.

【AI and Semiconductor Stocks】

The AI sector performed robustly, especially NVIDIA, whose stock has risen for four consecutive days, accumulating a 17% increase and reaching a market cap of $3.02 trillion. Related stocks like SMIC rose by 8.59%, Arm Holdings increased by 3.59%, and Micron Technology surged by 6.51%. The semiconductor sector overall strengthened, with TSMC up by 2.35%, ASML increasing by 5.53%, Applied Materials rising by 5.06%, and Lam Research gaining 5.30%. Noteworthy is the news that SoftBank's AI chip collaboration with Intel fell through, turning to TSMC instead, positively impacting TSMC's stock price.

【EV, Weight Loss Drugs, Oil Stocks, Gold Stocks, Cryptocurrency Stocks, and Meme Stocks】

The EV sector saw broad gains, with Tesla up by 6.34% and Chinese EV makers like Li Auto, NIO, and XPeng rising by 2.13%, 2.96%, and 2.40%, respectively. Traditional car manufacturers such as Toyota, General Motors, and Ford also increased by around 2.70%.Weight loss drug stocks had mixed performances, with Novo Nordisk and AstraZeneca rising by 2.34% and 1.36%, respectively, while Viking Therapeutics fell by 2.06%.Oil stocks were mixed, with ExxonMobil down by 0.18%, Occidental Petroleum up by 1.53%, and Chevron rising by 1.47%.Cryptocurrency stocks mostly rose, with Coinbase Global up by 0.59%, Microstrategy rising by 1.20%, Riot Platforms increasing by 0.39%, and Marathon Digital gaining 2.11%.Meme stocks mostly increased, with AMC Entertainment up by 0.20% and GameStop rising by 2.46%.Gold stocks had mixed performances, with Barrick Gold down by 0.57%, Newmont up by 0.35%, and Franco-Nevada rising by 2.51%.

【Other Notable Sectors and Stocks】

Retail stocks generally rose, with Walmart up by 6.58%, Costco increasing by 1.70%, Home Depot rising by 1.24%, Target up by 4.35%, Dollar General up by 3.43%, and Dollar Tree rising by 5.22%. Walmart's upward revision of its annual performance forecast was a key factor in the sector's strength.Bank stocks mostly rose, with JPMorgan Chase up by 0.62%, Bank of America rising by 0.57%, Wells Fargo increasing by 1.70%, Morgan Stanley up by 1.21%, Goldman Sachs rising by 0.06%, and Citigroup gaining 2.09%. Morgan Stanley and Goldman Sachs' purchase of over $600 million in spot Bitcoin ETFs during the second quarter demonstrated confidence in the cryptocurrency market.Vaccine stocks had mixed performances, with Pfizer down by 0.59%, Moderna up by 5.31%, BioNTech rising by 2.83%, and Novavax increasing by 3.69%.

【Investor Advice】

Overall, the strong performance of tech and semiconductor stocks in the U.S. market provided confidence to investors, especially with the continuous upward trends of tech giants like NVIDIA and Apple. The EV, retail, and banking sectors also performed well, reflecting market optimism across various fields. Investors might consider focusing on tech and semiconductor stocks with long-term growth potential while keeping an eye on the EV and retail sectors, and allocate assets wisely to diversify risk.
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.