U.S. stocks closed: CPI cooled and bank financial reports got off to a good start. The three major indexes collectively closed up

U.S. stocks closed: CPI cooled and bank financial reports got off to a good start. The three major indexes collectively closed up.

Financial News Agency, July 15th: On Tuesday, Eastern Time, boosted by the solid performance of large banks and lower-than-expected inflation reports, market risk appetite rebounded, and the three major U.S. stock indexes collectively closed higher. Consumer Price Index (CPI) data released by the U.S.

Department of Labor showed that inflation cooled more than analysts expected in June, mainly due to the easing of energy price pressures, while signs of progress in peace negotiations between the U.S. and Iran last month also eased market concerns.

Meanwhile, Federal Reserve Chairman Kevin Warsh gave his first congressional hearing since his confirmation, part of which focused on outlining the central bank's policy plan to curb rising price pressures.

However, as the fight for control of the Strait of Hormuz led to an escalation of air strikes between the United States and Iran and a rise in crude oil prices, the market was once again concerned that inflationary pressures might resurface.

Still, after the release of the CPI data, financial markets put an 83.4% chance that the Fed would keep its benchmark interest rate unchanged at the end of its July policy meeting, up from 58.3% on Monday.

Markets still expect the Fed to raise interest rates at least once by 25 basis points before the end of the year, according to the CME Group's "FedWatch Tool." "This inflation report seems to weaken the Fed's case for raising interest rates," said Chuck Carlson, chief executive of Horizon Investment Services.

"At least for now, it gives the Fed more policy space." Carlson added: "Wash's message is that we can reduce inflation, and that is what his audience wants to hear. Maybe inflation can come back naturally without the need for another rate hike." The U.S. second-quarter earnings season has officially kicked off, with five major banks reporting strong results.

The overall performance of these banks was better than market expectations, driven by good performance in trading business and a rebound in M&A activity. Goldman Sachs shares rose 9%.

The company's second-quarter profit exceeded market expectations, mainly due to the growth of its trading business and market trading opportunities brought about by increased geopolitical uncertainty. JPMorgan Chase and Bank of America rose 2.5% and 1.9% respectively, with quarterly profits for both companies exceeding market expectations.

In comparison, Citigroup shares fell 5.3%. Although profit exceeded expectations, market concerns about its cost pressures overshadowed the positive results. Wells Fargo shares also fell 2.7%. Tom Hainlin, a strategist at Bank of America, pointed out: "This week is a week of intensive earnings reports.

We can finally hear the voice of the American corporate community. What we continue to pay attention to is how banks view consumer health.

So far, the news on this aspect is good." As of the close, the Dow rose 10.02 points, or 0.02%, to 52508.66 points; the Nasdaq rose 233.83 points, or 0.90%, to 26107.01 points; the S&P 500 index rose 28.55 points, or 0.38%, to 7543.89 points.

Among the 11 sectors of the S&P 500 index, the information technology/technology sector rose 1.25%, the energy sector rose 0.37%, the financial sector rose 0.21%, and the health care sector fell 1.9%. U.S. stock industry ETFs rose or fell in different ways.

The semiconductor ETF closed up 2.51%, the global technology stock index ETF and technology industry ETF rose by up to 1.65%, the banking industry ETF fell by 0.06%, the global aviation industry ETF and daily consumer goods ETF fell by at most 1.38%, and the medical industry ETF fell by 1.93%. Most large technology stocks rose.

Nvidia rose 4.06%, Google rose 1.99%, Meta rose 0.66%, Tesla rose 0.36%, Amazon rose 0.07%, SpaceX fell 2.20%, Microsoft fell 1.55%, and Apple fell 0.77%. Storage concept stocks surged, with SK Hynix rising over 27% and closing at a 51% premium to Korean listed stocks, SanDisk rising over 5%, and Micron Technology rising nearly 5%.

IBM shares plunged 25.2% after the company warned that second-quarter revenue would fall short of market expectations.

Chief Executive Officer Arvind Krishna said IBM's software and infrastructure business's performance fell short of expectations as customers shifted spending to servers, storage and memory to get ahead of price increases brought about by the AI boom.

In addition, Krishna also claimed that one of the current top priorities for customers is network security risks. Driven by this news, the stock prices of Okta, Netskope and CrowdStrike all soared by more than 10%. The Nasdaq Golden Dragon China Index closed down 0.11% at 6105.95 points.

Among the popular Chinese concept stocks, Baidu closed down 3.23%, NetEase fell 2.3%, Pinduoduo fell 0.7%, Alibaba fell 0.03%, Tencent rose 0.57%, New Oriental rose 1.9%, Xpeng rose 3.2%, and WeRide Zhixing rose 6.6%. [Lucid denies rumors of considering privatization or bankruptcy filing] U.S.

electric car maker Lucid Group denied a report in a blog post on Tuesday local time, saying it was "completely untrue" that the company was considering a privatization transaction or filing for Chapter 11 bankruptcy protection. During the U.S. stock market, the company's stock price once plummeted by more than 50%, the largest one-day drop since its listing.

However, after the company denied rumors of privatization or bankruptcy, the stock price decline eventually narrowed to 16%.

Lucid stated in a statement that as the company's recently released quarterly documents show, the company has sufficient liquidity to support operations for a long time next year; the company's board of directors has not established a special committee to evaluate the above-mentioned rumored plan.

At the same time, corporate restructuring consultant AlixPartners is currently helping Lucid improve execution efficiency and operational performance, rather than recommending that the company file for bankruptcy.

[Apple stock rarely receives negative ratings, investment banks warn that current valuation is too high and growth is under pressure] Apple received a rare bear rating, with KeyBanc Capital Markets downgrading the stock to underweight, citing concerns about demand and valuation.

Brandon Nispel, who previously had a "hold" rating on Apple stock, said the stock's valuation gap relative to the broader market "doesn't make sense." Apple stock trades at more than 33 times forward earnings, well above the 10-year average of 23 times and higher than the Nasdaq 100's 22.8 times.

[Buffett plans to “clear out” Berkshire Hathaway stocks] On Tuesday local time, the legendary American "stock god" Buffett announced that he plans to completely dispose of his remaining Berkshire Hathaway shares in the next eight years. Buffett, who will celebrate his 96th birthday next month, currently holds more than $140 billion in Berkshire shares.

According to Berkshire's announcement, Buffett converted 8,000 Berkshire Class A shares into 12 million Berkshire Class B shares on Tuesday, and then donated 9 million shares to a charity named after his late first wife, Susan Thompson Buffett, and donated 1 million shares to each of his three children's foundations.

The total market value is slightly more than 5.9 billion US dollars. [OpenAI plans to launch a home smart speaker as its first hardware product] OpenAI is developing a screen-less mobile smart speaker.

As an AI companion device with human-like characteristics, it can linkage control smart home appliances and at the same time deeply invoke all the capabilities of ChatGPT.

The core design feature of this device is that it will continuously complete personalized iterations and proactively provide services to users based on its in-depth understanding of users' usage habits. Its core highlight is that it has exclusive personality traits and can establish a human-like emotional connection with users.

OpenAI plans to officially release this product this year and launch it on the market in 2027. However, the project may be delayed due to a lawsuit filed by Apple, which accuses OpenAI of stealing its trade secrets to speed up the development of its own hardware equipment. (

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