U.S. stocks closed: the three major indexes collectively closed higher; storage concept stocks rebounded violently, with SK Hynix soaring 27% and San Disk rising more than 5%; most large technology stocks rose, and IBM plummeted 25%
On Tuesday (14th) Eastern Time, the three major U.S. stock indexes collectively closed higher, with the S&P 500 rising by 0.38%, the Dow rising by 0.02%, and the Nasdaq rising by 0.9%. Storage concept stocks rebounded strongly. SK Hynix (ADR) rose by more than 27%, closing at a premium of more than 50% over Korean listed stocks; SanDisk rose by more than 5%, Micron Technology, Intel, and NVIDIA rose by more than 4%, and ASML and AMD rose by more than 2%. Most large technology stocks rose, with Google rising by more than 1%, and META, Tesla, and Amazon all rising. In terms of financial stocks, Goldman Sachs rose more than 9% and JPMorgan Chase rose more than 2%.
On Tuesday (14th) Eastern Time, the three major U.S. stock indexes collectively closed higher, with the S&P 500 rising by 0.38%, the Dow rising by 0.02%, and the Nasdaq rising by 0.9%. Storage concept stocks rebounded strongly. SK Hynix (ADR) rose by more than 27%, closing at a premium of more than 50% over Korean listed stocks; SanDisk rose by more than 5%, Micron Technology, Intel, and NVIDIA rose by more than 4%, and ASML and AMD rose by more than 2%. Most large technology stocks rose, with Google rising by more than 1%, and META, Tesla, and Amazon all rising. In terms of financial stocks, Goldman Sachs rose more than 9% and JPMorgan Chase rose more than 2%. Goldman Sachs' second-quarter profit topped expectations as the equities business hit new highs as faster trading and market volatility from war in the Middle East heightened volatility. JPMorgan also posted its highest-ever quarterly profit, with the stock trading well above analysts' expectations. IBM fell 25%, causing overall software stocks to suffer. Microsoft fell more than 1%, Workday and Salesforce fell more than 3%, and the stocks of IT service companies also fell sharply. According to Reuters, IBM said it has been very slow as business spending shifts from software to data center infrastructure and forecast second-quarter earnings to be lower than expected. Popular Chinese concept stocks were mixed, with Pony.ai and Xpeng Motors rising by more than 3%, iQiyi and Autohome rising by more than 2%, NIO and Xunlei rising by more than 1%; Kingsoft Cloud falling by more than 6%, Baidu Group and Bawangchaji falling by more than 3%, and Alibaba, JD.com and Bilibili falling slightly. Earlier in the day, data released by the U.S. Department of Labor showed that affected by falling energy prices, the U.S. Consumer Price Index (CPI) rose back to 3.5% year-on-year in June, but it still faced greater inflationary pressure. The U.S. Consumer News and Business Channel (CNBC) reported that as inflation slows, market expectations for the Federal Reserve to raise interest rates this year have declined. The probability of the Fed raising interest rates at its July meeting fell to 17% from 42% the day before, according to the Chicago Mercantile Exchange's FedWatch tool. According to the Associated Press, Federal Reserve Chairman Kevin Warsh said the Fed will make high inflation a thing of the past, but did not disclose next steps. Warsh believes that investment in artificial intelligence is "the most compelling point in the economy right now" and said the Fed is paying close attention to its impact on inflation and employment. The major European stock indexes closed collectively higher, with the UK's FTSE 100 index rising by 0.30%, France's CAC40 index rising by 0.02%, Germany's DAX30 index rising by 0.12%, and the FTSE Italy MIB index rising by 0.10%. International oil prices continued to rise. WTI August crude oil futures closed up $1.20, or 1.54%, at $79.34/barrel; Brent September crude oil futures closed up $1.43, or 1.72%, at $84.73/barrel. Gold rebounded, with London gold rising by more than 1% as of press time, fluctuating around $4,050. (