Market analysis on July 18
The US stock market experienced a sell-off on Thursday. Major indices generally fell. The Dow Jones Industrial Average fell by more than 530 points, or 1.3%, ending its six-day upward trend and failing to reach a new high. $Russell 2000 Index(.RUT.US$ It fell nearly 2%, and fell for the second day in a row after being the most overbought since 2017. Increased market volatility, $SPDR S&P 500 ETF(SPY.US$ Of the 11 sectors, only the energy sector achieved a rise, while the VIX Panic Index soared 10%, reaching its highest level in two and a half months.
In the technology stock sector, although the chip stock index experienced fluctuations, it ended up being $Taiwan Semiconductor(TSM.US$ It closed higher after releasing quarterly earnings that exceeded expectations. Nvidia and Intel also achieved gains, while $Apple(AAPL.US$ 、 $Amazon(AMZN.US$ with $Alphabet-A(GOOGL.US$ Decreased by approximately 2%, respectively. $Netflix(NFLX.US$ As its third-quarter revenue guidance fell short of expectations, it first plummeted by nearly 7% in after-hours trading, then turned upward.
TSMC's performance exceeded market expectations, sales increased 40% year over year, and raised the expected lower limit of capital expenditure for the whole year. The company said during the conference call that 2024 is expected to be “a year of strong growth” and plans to at least double the production capacity of CoWoS (silicon on chip interconnect packaging technology) this year and next two years.
Furthermore, although some top analysts have warned that artificial intelligence (AI) will not trigger an economic revolution and believe that the current AI investment boom will eventually subside, the market's shift towards small-cap stocks is likely to continue, especially in the context of slowing profit growth in large technology stocks.
In the currency and bond markets, the euro fell from a four-month high, and the yen fell after hitting a six-week high of 156. US debt and commodity markets also generally declined.
======= I am a dividing line =======
MY Moomoo account opening link 🔗
Crossing Malaysia through the US 2.0 offline sharing session (Johor Bahru, Selong)
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
生财有道致力于全方位成长投资。邱天雄老师曾是上市公司主要媒体的CEO领导，拥有超过20年的投资经验。主要投资美国，中国和大马。
2115Followers
0Following
3652Visitors
Follow