Dow Dips 0.8%, Nvidia Hits Record High
- News
- 2024-11-03
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U.S. stock indices showed divergent performances, with the Dow Jones Industrial Average (DJIA) weakening unilaterally, closing down by 0.8%. The Nasdaq Composite experienced in-session fluctuations and rebounded, ending up by 0.27%, while the S&P 500 index fell by 0.18%. According to CNBC, the rise in U.S. Treasury yields and investors' anticipation of new earnings reports led to the DJIA giving back some of last week's gains.
The 10-year U.S. Treasury note rose by more than 10 basis points to 4.197%. Sam Stovall, Chief Investment Strategist at CFRA, stated, "Bond yields continue to rebound, indicating that investors believe the Federal Reserve will slow down the pace of rate cuts, as the economy remains resilient. Consequently, it may be more challenging for the Federal Reserve to achieve its target of reducing inflation to 2% within the next year or so."
Most large-cap U.S. technology stocks rose, with Netflix increasing by about 1%, and Apple, Amazon, Google, and Microsoft seeing minor gains, while Facebook experienced a slight decline.
U.S. bank stocks fell across the board, with Goldman Sachs and Morgan Stanley dropping by more than 2%, Citigroup and Bank of America falling by over 1%, and JPMorgan Chase and Wells Fargo experiencing minor declines.
Most U.S. airline stocks also declined, with Delta Air Lines and Southwest Airlines falling by more than 1%, American Airlines and United Airlines experiencing minor declines, while Boeing rose by over 3%.
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U.S. semiconductor stocks showed mixed performances, with Nvidia increasing by over 4%, closing at a record high of $143.71 per share, bringing the company's market value close to $3.53 trillion. Advanced Micro Devices (AMD) rose by more than 1%, while TSMC, Intel, and Broadcom saw minor gains, and GlobalFoundries, Qualcomm, ASML, and Micron Technology fell by more than 1%.
Popular Chinese concept stocks overall corrected, with the NASDAQ Golden Dragon China Index falling by 0.8%. 21Vianet fell by more than 3%, and Baidu Group, Huazhu Group, Beike, and New Oriental fell by more than 2%, while Alibaba, NetEase, and Ctrip Group fell by more than 1%. Niu Technologies rose by more than 7%, LexinFintech and New Oriental Education & Technology rose by more than 6%, Youdao by more than 4%, and XPeng Motors and Daqo New Energy rose by more than 3%.
European major stock indices closed lower, with the German DAX index falling by 1%, the French CAC 40 index by 1.01%, the UK FTSE 100 index by 0.48%, and the Eurozone STOXX 50 index by 0.9%. Bloomberg analysis suggests that investors remain cautious about regional economic conditions and escalating tensions in the Middle East. Earlier, France's credit rating was downgraded by Scope Ratings, serving as a warning about the country's fiscal health.
International oil prices rose on the 21st. By the close of the day, the November delivery of light crude oil futures on the New York Mercantile Exchange increased by $1.34 to $70.56 per barrel, a rise of 1.94%; the December delivery of Brent crude oil futures increased by $1.23 to $74.29 per barrel, a rise of 1.68%.
COMEX gold reached a historical high of $2,755 per ounce during trading, but as of press time, the increase has significantly receded, now reporting at $2,734.1 per ounce, with the gain narrowing to 0.15%. COMEX silver prices rose by more than 3% during trading, but the increase has now narrowed to 2.3%, reporting at $34 per ounce.The US Dollar Index rose on the 21st. The index, which measures the value of the US dollar against six major currencies, increased by 0.50% on the day, closing at 104.013 in the foreign exchange market. By the end of the New York foreign exchange market, 1 euro was exchanged for 1.0812 US dollars, lower than the previous trading day's 1.0865 US dollars; 1 British pound was exchanged for 1.2979 US dollars, lower than the previous trading day's 1.3046 US dollars.
1 US dollar was exchanged for 150.78 Japanese yen, higher than the previous trading day's 149.51 Japanese yen; 1 US dollar was exchanged for 0.8662 Swiss francs, higher than the previous trading day's 0.8654 Swiss francs; 1 US dollar was exchanged for 1.3841 Canadian dollars, higher than the previous trading day's 1.3810 Canadian dollars; 1 US dollar was exchanged for 10.5626 Swedish kronor, higher than the previous trading day's 10.5321 Swedish kronor. (China News Service APP)
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