On Tuesday, US time, US stocks closed with major stock indexes rebounding across the board, with the Nasdaq rising more than 350 points. Several U.S.-listed companies have posted strong second-quarter earnings, and investors are betting that the market has bottomed out.
The Dow Jones closed at 31,827.05 points,Up 754.44 points, or 2.43%; the S&P 500 closed at 3936.69,up 2.76%; The Nasdaq Composite closed at 11,713.15 points,up 3.11%.
Large tech stocks generally rose, with Meta and Netflix up more than 5%, Google more than 4%, Amazon more than 3%, and Apple and Microsoft more than 2%.
Chip leading stocks generally rose, with NVIDIA, ASML, AMD and Applied Materials all gaining more than 5%.
Most of the electric vehicle stocks fell. Tesla bucked the trend and rose 2.07%, Rivian fell 0.28%, and Faraday Future fell 17.31%; Weilai fell 3.07%, Xiaopeng fell 3.76%, and Ideal fell 4.72%.
Most of China’s e-commerce stocks rose, Alibaba rose 1.56%, JD.com rose 1.18%, and Pinduoduo fell 0.31%.
Other popular Chinese concept stocks generally rose, among which Bilibili rose 4.46%, Aiyiqi rose 9.72%, Ctrip rose 4.41%, Autohome rose 2.80%, Manbang rose 2.53%, Baidu rose 0.92%, BOSS Direct Employment Up 0.37%, Zhihu rose 0.00%.
Specifically,The major tech stocks in the U.S. stock market performed as follows:
The major chip stocks in the U.S. stock market performed as follows:
The performance of major Chinese concept stocks listed in the United States is as follows:
Investors are betting that U.S. stocks have bottomed out after a sharp decline this year, and the latest round of earnings reports showed that U.S.-listed companies struggled to overcome the downward pressure on the economy in the second quarter of this year, and the situation was better than previously feared.
Kim Forrest, founder of investment firm Bokeh Capital Partners, said: “Investors and companies have expected high inflation in the United States, so it is not surprising that companies are talking about high inflation in the second quarter. It’s amazing how well they can get through.”
Investor sentiment has deteriorated to such an extent that some on Wall Street believe the market is about to turn a corner. A Bank of America survey of professional investors on Tuesday showed that investor panic could present an excellent buying opportunity. In fact, the bearishness of survey participants suggests that sellers are exhausted and that stocks could rise from here.
The Bank of America survey found that investors’ allocations to equities were at their lowest level since October 2008, while cash holdings were the highest since 2001.
“Fundamentals are weak in the second half of 2022, but market sentiment indicators point to a rebound in stocks and bonds in the coming weeks,” Bank of America analysts wrote.
The pullback in the dollar exchange rate also contributed to the rebound in US stocks. This is especially true for tech stocks with a large percentage of sales overseas, whose earnings are being hurt by a stronger dollar this year.
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