Market analysis on May 17

The Dow Jones Industrial Average closed above the 0.04 million mark for the first time in history and continued to rise for five consecutive weeks as expectations of US interest rate cuts heated up. The S&P 500 index rebounded strongly, close to a record high, while the Nasdaq Composite Index ended two consecutive declines, but continued to rise for two weeks. While Google's stock price reached new highs for three consecutive days, the stock price of GameStation, which was affected by retail groups, fell nearly 20% after three consecutive days of sharp double-digit declines.

In the bond market, after rising for two consecutive days, US Treasury yields rebounded more than 10 basis points from a low of nearly six weeks on Thursday, but remained on a downward trend throughout the week. After a week of decline, the US dollar index fell for three out of four days. Bitcoin's price showed strong performance, with an intraday increase of more than $2,000, successfully breaking through the $0.067 million mark and setting a new monthly high.

In the energy commodities market, crude oil prices have been rising for three consecutive days. U.S. crude oil prices have broken through the $80 mark for the first time this month, and have been rising for two consecutive weeks. US gas prices rose nearly 17% in a week. Gold and copper futures prices hit record highs at the same time, while silver rose by more than 6% in a week, nickel rose by more than 11%, and copper and tin also rose by more than 6%.

On the Chinese market side, as the central bank of China continues to take measures to stimulate the real estate market, abolish the lower interest rate limit for commercial housing loans, the housing provident fund interest rate was lowered by 0.25%, and the down payment ratio for the first home was reduced to 15%. In addition, the central bank has also set up 300 billion yuan of affordable housing reloans with an interest rate of 1.75% to support local state-owned enterprises to buy commercial housing that have not been built for sale at reasonable prices.

In terms of the performance of the US stock market, the China indexes continued to be strong, hitting an eight-month high, with a weekly increase of 6.5%. Fangduoduo rose 321% at the close and experienced a meltdown during this period, while Haidilao had an intraday increase of more than 50% on the first day of the US stock listing and a 14% rise at the close. As the Chinese government continuously announced policies favorable to real estate, real estate stocks in the A-share market rose strongly, and Vanke achieved a rise or fall.

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