On Wednesday, U.S. time, U.S. stocks closed with major stock indexes rising across the board, hitting their highest points since early June. Netflix reported better-than-expected second-quarter earnings, boosting the confidence of investors who were waiting for more companies to report.
The Dow Jones closed at 31,874.84 points,Up 47.79 points, or 0.15%; the S&P 500 closed at 3959.90,up 0.59%; The Nasdaq Composite closed at 11,897.65 points,up 1.58%.
Big tech stocks rose broadlyNetflix rose more than 7%, Meta rose more than 4%, Amazon rose more than 3%, Apple and Microsoft rose more than 1%.
Chip leading stocks generally roseof which Nvidia, AMD and Applied Materials all rose more than 4%.
Electric car stocks mixedTesla rose 0.80%, Rivian rose 3.25%, Faraday Future fell 16.25%; Weilai rose 0.84%, Xiaopeng fell 1.47%, and Ideal fell 3.83%.
China’s e-commerce stocks generally fellAlibaba fell 0.75%, Jingdong fell 0.25%, and Pinduoduo fell 2.77%.
Most of other popular Chinese concept stocks fellAmong them, BOSS Zhipin rose 1.63%, Manbang rose 1.12%, Bilibili fell 0.63%, Ctrip fell 0.82%, Baidu fell 1.10%, Autohome fell 3.06%, Zhihu fell 7.01%.
Specifically, the major technology 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:
A survey released earlier this week showed U.S. fund managers are at their most pessimistic levels since the financial crisis. Investors hope that means market sentiment will only improve from now on, driving a further rebound in stocks from recent lows.
Edward Moya, senior market analyst at online foreign exchange platform OANDA, said: “No one expected Netflix to trigger a high-risk rally in other big tech stocks, but that’s exactly what is happening. There is growing confidence that corporate earnings won’t plummet and the stock market is rising. The pessimism won’t completely disappear as two big risk events lie ahead in the next 24 hours: the ECB’s decision to raise interest rates, and Russia’s decision on how much gas to allow through Nord Stream- 1 Pipeline decision.”
About 12 percent of S&P 500 companies have reported second-quarter earnings, with 68 percent beating analysts’ expectations, according to financial data firm FactSet.
Existing-home sales in the U.S. fell 5.4% in June from a month earlier to a seasonally adjusted 5.12 million, according to the National Association of Realtors. This is the lowest level of sales since the outbreak of the new crown epidemic in June 2020.
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