Financial Associated Press, April 23 (editor Shi Zhengcheng) after the market capitalization of the "seven giants" of US technology lost 950 billion US dollars in a week last week.MadamedestinyfreeslotAs the geopolitical situation in the Middle East eased significantly on Monday, the decline in risk aversion also led investors to start buying stocks again. Both the Nasdaq and the S & P 500 rose for the first time after falling for six trading days in a row.
By the end of the day, the S & P 500 was up 0%.Madamedestinyfreeslot.87%, at 5010Madamedestinyfreeslot.6 points; the NASDAQ rose 1.11% to 15451.31; the Dow Jones Industrial average rose 0.67% to 38239.98.
Since last weekend, Fed officials who stressed that they were "data-dependent" but kept intimidating the market with expectations of interest rate cuts have also been collectively silent.MadamedestinyfreeslotThis group of over-the-counter factors that disturb the market from time to time also immersed the stock market in a peaceful and comfortable atmosphere on Monday.
However, the leisure time is always short, starting Tuesday, the US stock earnings season will usher in a time to reveal the performance of the tech giants-and analysts generally say they are "not very optimistic" about Tesla's after-hours results on Tuesday; results from Meta, Google and Microsoft will also be released later this week. Overall, nearly 180 S & P 500 stocks reported results this week, corresponding to the market capitalization of nearly 40%.
Considering that technology stocks experienced only a more obvious decline last week (for example, Nvidia fell 13.59% for the whole week, the biggest weekly decline since September 2022), so the earnings of these technology stocks, especially whether their growth guidance is worthy of high valuations, it is clear that it will determine whether the adjustment is over now or the key factor that a new round of decline is about to begin.
Later this week, US GDP data and PCE inflation data will once again drag the market into the logical cycle of "economy-inflation-Fed interest rate cut expectations". According to the schedule, the Federal Reserve will disclose its latest interest rate decision in the early hours of next Thursday, Beijing time.
Performance of hot stocks
With the exception of Tesla, most of the technology giants are strong. Apple rose 0.51 per cent, Microsoft 0.46 per cent, Amazon 1.49 per cent, META 0.14 per cent, Google-A 1.42 per cent, Tesla 3.4 per cent due to "global price cuts", Nvidia 4.35 per cent and Intel 0.61 per cent.
Another interesting thing today is the strength of the Bitcoin concept. After the "halving" incident over the weekend, related concept stocks also fluctuated strongly with the price of bitcoin. MicroStrategy, which investors are familiar with, rose 12.77%, Coinbase rose 7.04%, and bitcoin mining infrastructure stock Riot platform rose 23.11%.
The Nasdaq China Golden Dragon Index rose 2.34%. Alibaba rose 2.33 per cent, Baidu 2.3 per cent, pinduoduo 9.38 per cent, JD.com 5.8 per cent, NetEase 1.47 per cent, Xilai 5.26 per cent, ideal Motor 5.57 per cent and Xiaopeng 0.72 per cent.
Other news
[Tesla's "growing content" traditional advertising team was collectively laid off)
Tesla laid off the entire US "growth content" team in the latest layoffs, less than a year after Elon Musk approved the use of traditional advertising to promote cars, according to the latest news on Monday.
Musk did not refute the news on social media. Some netizens said that Tesla's previous advertisements were too ordinary and that the marketing team should have done better. Musk commented below that these advertisements are indeed too general to reflect the advantages of Tesla's vehicles.
[UBS downgraded the "Big six" of US technology stocks]
UBS said in its latest strategy report that the upward momentum of the US tech giants is running out as the earnings momentum that the sector once enjoyed is cooling. UBS downgraded the industry ratings of the six technology giants Alphabet, Apple, Amazon, Meta, Microsoft and Nvidia from "high-end" to "neutral".
Jonathan Golub, a strategist at UBS, said earnings momentum had firmly turned negative after the surge in profits and that the downgrade was an "recognition of the difficulties and cyclical constraints faced by these stocks" rather than "predictions based on expanded valuations or doubts about artificial intelligence".
[the merger of two major US luxury groups is sued by FTC]
On Monday, the Federal Trade Commission launched an antitrust lawsuit to prevent Tapestry, the parent company of Coach, from acquiring Capri holding, the parent of brands such as Jimmy Choo and Michael Kors, for $8.5 billion. The deal, announced in August last year, has been approved by European and Japanese regulators and was originally scheduled to be completed this year.
[Meta announces that it will open VR operating system to outside companies]
Meta announced on Monday that it will work with external hardware manufacturers such as Lenovo, Microsoft and Asustek to create virtual reality headlines using the Meta Horizon operating system. This also enables devices from outside vendors to run the same systems as Quest 3 and Quest Pro.
Zuckerberg said the company's goal is to work with meta-universe, glasses and head display devices to allow open models to define the next era of computing. He also said that Meta will allow Steam and Microsoft's Xbox cloud games to run on their operating systems.