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The three major US stock indices all rose by over 1%, with the Nasdaq and S&P 500 continuing to reach historic highs

忧郁草民乜
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On Wednesday Eastern Time, the three major indexes of the US stock market collectively closed higher, with the Dow Jones up 1.09% and the Nasdaq up 1.18%, marking the seventh consecutive day of gains. The S&P 500 index rose 1.02%, while the Nasdaq and S&P 500 indexes continued to reach historic highs. Large tech stocks rose generally, Nvidia rose more than 2%, Apple, Microsoft, and Google rose more than 1%, and Tesla rose less than 1%, marking the eleventh consecutive day of gains. The precious metals, semiconductors, and consumer electronics sectors saw the highest growth, with Pan American Silver up more than 5%, Nano Microelectronics and Ansemy Semiconductor up more than 4%, AMD and Asma up more than 3%, and Sony, Gold Fields, and Coldaeron Mining up more than 2%.
Popular Chinese concept stocks fluctuated, with the Nasdaq China Golden Dragon Index falling 0.04%. Xiaopeng Automobile rose more than 7%, Ideal Automobile rose more than 3%, Futu Holdings, iQiyi, Baidu, and NIO rose more than 2%, while Alibaba, Weibo, and Pinduoduo rose slightly. NetEase fell more than 3%, Tencent Music and Bilibili fell more than 1%, while Manbang, JD.com, and Vipshop saw a slight decline.
Global News
The Federal Reserve makes a bold statement: premature and excessive policy relaxation may harm inflation progress
On the evening of July 9th Beijing time, Federal Reserve Chairman Powell delivered a semi annual monetary policy testimony in the US Senate, accepting inquiries on issues such as monetary policy and bank regulation. Powell stated that recent inflation data shows some progress towards the 2% target. Until the Federal Reserve's confidence in inflation continuing towards 2% increases, interest rate cuts are not appropriate; Premature and excessive relaxation of policies may harm the progress of inflation.
Goldman Sachs Asset Management rings the alarm: US stocks are expected to cool down in the second half of the year and now need to stay away from AI hot stocks
On Tuesday Eastern Time, Goldman Sachs Asset Management released its mid year outlook report. The report shows that Goldman Sachs Asset Management expects the growth rate of the US economy to slow down to around 2% in the second half of 2024, while the US stock index will remain largely unchanged due to declining corporate profit growth and political concerns. Goldman Sachs Asset Management also warned that US stock investors should start diversifying their investments and stay away from the "early winners" in the previously booming AI sector.
Believing that interest rate cuts are approaching is a good thing. US Treasury bulls have been increasing their holdings every day in July
Is the Fed's interest rate cut really close to a good thing? Although Federal Reserve Chairman Powell did not want to disclose too much details in his testimony speech on the first day of his visit to Capitol Hill this week, investors in the US bond market seem to be ready for this: more traders are betting that the US treasury bond bond market with a scale of up to $27 trillion will further rise.
France's "most dangerous woman" is being investigated! How significant is the impact?
The French political situation suddenly brings big news. According to the latest news, French criminal prosecutors have launched an investigation into the "illegal campaign financing" of far right leader Marina Le Pen and her far right political party, the National League. Sources from the Paris judiciary have confirmed that the new criminal investigation is related to Le Pen's campaign for the 2022 French presidency, and is suspected of providing illegal campaign funds during his failed presidential campaign.
Saudi Arabia's sudden major change! What kind of signal is released?
Saudi Arabia's significant move has attracted attention from all parties. On July 9th local time, Bloomberg quoted sources as saying that Saudi Arabian officials had issued a "threat" to the Group of Seven (G7) countries, implying that if the G7 decides to confiscate Russia's frozen assets of approximately $300 billion, Saudi Arabia will sell some of its European debt.
Company News
Tesla's stock price has risen for ten consecutive days! Behind the good news, the US market share has fallen below 50% for the first time
Tesla's stock price has been rising for ten consecutive days, with a cumulative increase of an astonishing 44%, which is related to the positive report on Tesla's electric vehicle delivery quantity in the second quarter; The latest Kelly Blue Book points out that Tesla's US market share fell below 50% for the first time in the second quarter, and competition in the electric vehicle industry is intensifying.
Sales plummeted by 95% year-on-year. Boeing only sold 14 planes in June! The United States orders inspections of over 2600 Boeing 737s
According to CCTV News on the 10th, Boeing's sales have been significantly hit this year due to a series of scandals. On the 9th local time, Boeing released data showing that in the past month, the company has only sold 14 new aircraft, most of which are cargo planes. Data shows that in the first half of this year, Boeing's total orders reached 156 aircraft, a 70% decrease from the same period last year. Among them, Boeing sold a total of 14 aircraft in June, a decrease of 95% compared to the sales of 304 aircraft in June last year.
Chinese employees can only use iPhones? Microsoft Response: Provide employees with access to necessary applications
On the evening of July 9th, a Microsoft spokesperson responded to a reporter from the Daily Economic News on this matter, stating that "Microsoft Authenticator and Identity Pass applications have officially been launched on the Apple Store and Google Play Store. We hope to provide employees with access to these necessary applications. As Google Mobile services are not available in the local area, we have provided employees with the option to use devices such as iOS." Many netizens said that if they could be equipped with a work phone, there would be no problem. But if employees are forced to purchase on their own, it is "unacceptable".
Former CEO of Asma: US restrictions on China based on ideology will lobby as much as possible to prevent severe export restrictions
According to @ CCTV International News Weibo, Peter Wenninger, former CEO of Asma, a Dutch semiconductor equipment manufacturer, was interviewed by BNR Radio in the Netherlands recently. When answering questions about US restrictions on Asma's export of chip production equipment to China, Wenning pointed out that this is "based on ideology", "not on facts, content, numbers or data.". According to Dutch media reports, Wenninger stated that "if based on data, the US government may come to completely different conclusions from those motivated by ideology at present.".
Samsung's first general strike in history enters its third day: Thousands of people participate in the semiconductor sector as the main force, how significant is the impact
On July 10th, the largest union of Samsung Electronics, the National Samsung Electronics Union, announced on its website that it plans to go on strike indefinitely. According to foreign media reports, Samsung's labor union has announced an indefinite strike due to confirmation that the company's management has no intention of engaging in dialogue. The strike began on July 8th, and Korean media described it as the first general strike since the establishment of the company.
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