U.S. memory chips fell sharply late at night, with SK Hynix falling 9%. Chinese concept stocks generally rose, with Alibaba rising more than 4%
On Wednesday (July 15) local time, the three major U.S. stock indexes closed slightly higher, with the Dow Jones Industrial Average rising 0.29%, the S&P 500 Index rising 0.38%, and the Nasdaq Composite Index rising 0.62%. Most large technology stocks rose, with Apple rising by more than 4%, and Google, Facebook, and Amazon rising by more than 3%. Most chip stocks fell, with the Philadelphia Semiconductor Index falling 2.08%, Storage Concepts leading the decline, SK Hynix falling 9%, and Micron Technology, SanDisk, and Western Digital falling more than 8%. In addition, Marvell Technology fell by more than 7%, Intel fell by more than 4%, and AMD Semiconductor fell by more than 3%.
On Wednesday (July 15) local time, the three major U.S. stock indexes closed slightly higher, with the Dow Jones Industrial Average rising 0.29%, the S&P 500 Index rising 0.38%, and the Nasdaq Composite Index rising 0.62%. Most large technology stocks rose, with Apple rising by more than 4%, and Google, Facebook, and Amazon rising by more than 3%. Most chip stocks fell, with the Philadelphia Semiconductor Index falling 2.08%, Storage Concepts leading the decline, SK Hynix falling 9%, and Micron Technology, SanDisk, and Western Digital falling more than 8%. In addition, Marvell Technology fell by more than 7%, Intel fell by more than 4%, and AMD Semiconductor fell by more than 3%. Chinese concept stocks generally rose, with the Nasdaq China Golden Dragon Index rising 2.92%. Miniso rose by more than 9%, Manbang Group rose by more than 6%, Beike rose by nearly 6%, Alibaba, BOSS Zhipin, Atour, and Bilibili rose by more than 4%, and Pinduoduo rose by more than 2%. In terms of commodities, COMEX gold futures closed down 0.07% at US$4,066.9 per ounce; COMEX silver futures closed down 1.7% at US$58.1 per ounce. The settlement price of WTI crude oil futures closed at US$79.60 per barrel, an increase of 0.33%. The settlement price of Brent crude oil futures closed at $84.95 per barrel, an increase of 0.26%. The major cryptocurrencies rose more than they fell. Bitcoin rose 0.45% to US$64,795 per coin. In the past 24 hours, more than 80,000 people liquidated their positions in the market. Traders have withdrawn bets that the Federal Reserve could raise interest rates as early as July as the latest U.S. inflation rise unexpectedly slowed sharply. However, under the influence of multiple uncertainties, the direction of the Fed's monetary policy is uncertain and may still raise interest rates later this year. CME "Fed Watch" data shows that the probability of the Fed keeping interest rates unchanged in July is 88.8%, and the probability of raising interest rates by 25 basis points cumulatively is 11.2%. The probability that the Fed will keep interest rates unchanged until September is 51.2%, the probability of a cumulative interest rate hike of 25 basis points is 44%, and the probability of a cumulative 50 basis point interest rate hike is 4.7%. Under the framework of the Federal Reserve abandoning fixed forward guidance and insisting on data dependence, Wu Qidi, director of Yuanda Information Securities Research Institute, believes that the policy trend during the year is not completely solidified, and it is not absolutely "no possibility of raising interest rates." What is clear is that the Fed no longer has room to significantly raise interest rates, but if a black swan event occurs in the future, such as a sharp deterioration in the Middle East situation that causes a sharp surge in energy prices and an unexpected rebound in inflation data, the Fed will not rule out the possibility of restarting small interest rate increases. This is the core reason why Fed Chairman Warsh continues to maintain a hawkish stance. (