[Morning report] U.S. stock market fluctuates on labor market data, with Applied Digital, backed by Nvidia, surging 65%.
![[Morning report] U.S. stock market fluctuates on labor market data, with Applied Digital, backed by Nvidia, surging 65%.](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240906/3bec8cfd4d47e372ab3d8a05e24f80df.png/big?area=105&is_public=true)
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Here are the key points from the morning session report today.
Tokyo stock market range forecast: ¥6,800,000-¥7,100,000 (closing price on the 5th: ¥6,657,090)
● US stock market, labor market data fluctuate before the report of non-farm payroll employment
● US Treasury Secretary Yellen emphasizes a healthy job market
●Nvidia CEO sells 5.3 million shares in the past 3 months.
● Broadcom falls about 7% after earnings in after-hours trading, AI other than fields is a hindrance
Tesla rises about 5%, plans to introduce advanced driver assistance system in China and Europe in the January-March period next year.
Applied Digital soars 65%, with investors like Nvidia investing $160 million.
If re-elected, Mr. Trump plans to appoint Mr. Mask as the head of the Government Efficiency Commission. Is this a conflict of interest?
Arm becomes the top pick for analysts at a major US securities firm.
moomoo News Sherry
Tokyo stock market range forecast: ¥6,800,000-¥7,100,000 (closing price on the 5th: ¥6,657,090)
● US stock market, labor market data fluctuate before the report of non-farm payroll employment
● US Treasury Secretary Yellen emphasizes a healthy job market
●Nvidia CEO sells 5.3 million shares in the past 3 months.
● Broadcom falls about 7% after earnings in after-hours trading, AI other than fields is a hindrance
Tesla rises about 5%, plans to introduce advanced driver assistance system in China and Europe in the January-March period next year.
Applied Digital soars 65%, with investors like Nvidia investing $160 million.
If re-elected, Mr. Trump plans to appoint Mr. Mask as the head of the Government Efficiency Commission. Is this a conflict of interest?
Arm becomes the top pick for analysts at a major US securities firm.
moomoo News Sherry
Market Overview
On the 5th, the U.S. stock market was mixed. The Dow Jones Industrial Average fell, the S&P 500 Index continued to decline, and the Nasdaq Composite Index rebounded for the first time in 3 days. The closing price of the Dow average was $7,755.75, down $219.22 from the previous day. The S&P 500 Index closed at 5,503.41, down 16.66 points, while the Nasdaq Composite Index closed at 12,127.66, up 43.36 points. On the 6th, the Tokyo stock market is expected to see a broad buying trend, especially in leading stocks, leading to a rebound in the Nikkei Stock Average for the first time in 4 days.
On the 5th, the U.S. stock market was mixed. The Dow Jones Industrial Average fell, the S&P 500 Index continued to decline, and the Nasdaq Composite Index rebounded for the first time in 3 days. The closing price of the Dow average was $7,755.75, down $219.22 from the previous day. The S&P 500 Index closed at 5,503.41, down 16.66 points, while the Nasdaq Composite Index closed at 12,127.66, up 43.36 points. On the 6th, the Tokyo stock market is expected to see a broad buying trend, especially in leading stocks, leading to a rebound in the Nikkei Stock Average for the first time in 4 days.
Top News
The US stock market is fluctuating with labor market data ahead of the non-farm payroll report.
●Bond yields continue to decline since the beginning of the week, with the 10-year government bond yield falling by 3 basis points to 3.731%.
●According to ADP data, private sector employment in August increased by 0.099 million, falling below the expected 0.14 million and remaining at a low growth rate since January 2021. July's figure was also revised downward to a 0.11 million increase (preliminary figure of 0.12 million increase), once again indicating signs of labor market slowdown.
●This week's data also indicates an increase in the risk of economic recession. The number of job openings in July, announced on the 4th, dropped to a low level of 7.67 million for the first time in over three years, suggesting a softening labor market. The ISM Manufacturing Index has been negative for five consecutive months, causing anxiety among investors.
The number of unemployment insurance claims last week decreased for the second consecutive week, from 0.231 million to 0.227 million.
Analysts predict that the unemployment rate will slightly decrease to 4.2% in the August non-farm payroll report, with a predicted employment increase of 160,000. If the unemployment rate exceeds expectations, it could have a negative impact on the market.
The US stock market is fluctuating with labor market data ahead of the non-farm payroll report.
●Bond yields continue to decline since the beginning of the week, with the 10-year government bond yield falling by 3 basis points to 3.731%.
●According to ADP data, private sector employment in August increased by 0.099 million, falling below the expected 0.14 million and remaining at a low growth rate since January 2021. July's figure was also revised downward to a 0.11 million increase (preliminary figure of 0.12 million increase), once again indicating signs of labor market slowdown.
●This week's data also indicates an increase in the risk of economic recession. The number of job openings in July, announced on the 4th, dropped to a low level of 7.67 million for the first time in over three years, suggesting a softening labor market. The ISM Manufacturing Index has been negative for five consecutive months, causing anxiety among investors.
The number of unemployment insurance claims last week decreased for the second consecutive week, from 0.231 million to 0.227 million.
Analysts predict that the unemployment rate will slightly decrease to 4.2% in the August non-farm payroll report, with a predicted employment increase of 160,000. If the unemployment rate exceeds expectations, it could have a negative impact on the market.
US Treasury Secretary Yellen emphasizes a healthy job market.
US Treasury Secretary Yellen stated that the US job market is still healthy and has evaluated personal consumption and investment spending as very strong. Recent data suggests a slight cooling, but overall it is considered good.
Yellen expressed the view that the unemployment rate is historically very low and a healthy labor market continues.
Yellen stated that companies are somewhat cautious about hiring, but jobs are still being created at a very strong pace.
US Treasury Secretary Yellen stated that the US job market is still healthy and has evaluated personal consumption and investment spending as very strong. Recent data suggests a slight cooling, but overall it is considered good.
Yellen expressed the view that the unemployment rate is historically very low and a healthy labor market continues.
Yellen stated that companies are somewhat cautious about hiring, but jobs are still being created at a very strong pace.
Broadcom fell about 7% after earnings announcement. The decline reflects a setback in areas other than AI in individual US stocks.
Semiconductor $Broadcom (AVGO.US)$fell about 7% after-hours. After the closing, it announced its 3rd-quarter earnings (May-July), with revenue remaining within the expected range but earnings per share surpassing expectations. This reflects the continued strength of AI semiconductor solutions and VMWare. However, the stock price had a lackluster response after-hours. It seems that the market is disappointed because the revenue outlook for the fourth quarter fell short of expectations, suggesting a slowdown in demand for non-AI products as a drag on growth.
Semiconductor $Broadcom (AVGO.US)$fell about 7% after-hours. After the closing, it announced its 3rd-quarter earnings (May-July), with revenue remaining within the expected range but earnings per share surpassing expectations. This reflects the continued strength of AI semiconductor solutions and VMWare. However, the stock price had a lackluster response after-hours. It seems that the market is disappointed because the revenue outlook for the fourth quarter fell short of expectations, suggesting a slowdown in demand for non-AI products as a drag on growth.
Nvidia CEO sold 5.3 million shares in the past 3 months.
Top U.S. semiconductor company. $NVIDIA (NVDA.US)$CEO Jensen Huang sold approximately 5.3 million shares of the company's common stock for about $0.6 billion (approximately 90.8 billion yen) in the past 3 months, as revealed in documents filed with the U.S. Securities and Exchange Commission (SEC) on the 5th.
Top U.S. semiconductor company. $NVIDIA (NVDA.US)$CEO Jensen Huang sold approximately 5.3 million shares of the company's common stock for about $0.6 billion (approximately 90.8 billion yen) in the past 3 months, as revealed in documents filed with the U.S. Securities and Exchange Commission (SEC) on the 5th.
Tesla, up about 5%, plans to introduce advanced driving support systems in China and Europe in the January-March period next year, supporting individual US stocks.
$Tesla (TSLA.US)$It is up about 5% and is supporting the Nasdaq. The company plans to introduce advanced driving support systems called Full Self-Driving (FSD) in China and Europe in the January-March period next year, pending regulatory approval. Tesla AI, a subsidiary of the company, revealed in a post to X. FSD testing was approved in Shanghai in June.
$Tesla (TSLA.US)$It is up about 5% and is supporting the Nasdaq. The company plans to introduce advanced driving support systems called Full Self-Driving (FSD) in China and Europe in the January-March period next year, pending regulatory approval. Tesla AI, a subsidiary of the company, revealed in a post to X. FSD testing was approved in Shanghai in June.
Applied Digital surges 65% with investments of $160 million from investors including Nvidia in individual US stocks.
$Applied Digital (APLD.US)$Rises 65%. $NVIDIA (NVDA.US)$Investors, including Blue Ridge and real estate company Relitted, announced investments of $160 million in the company, strengthening its financial foundation and enabling it to launch products on a large scale in the market.
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Nvidia invests in Sakana AI.
$Applied Digital (APLD.US)$Rises 65%. $NVIDIA (NVDA.US)$Investors, including Blue Ridge and real estate company Relitted, announced investments of $160 million in the company, strengthening its financial foundation and enabling it to launch products on a large scale in the market.
Related Articles
Nvidia invests in Sakana AI.
AST SpaceMobile plunges 14% as it signs a stock sale agreement of up to $400 million with multiple financial institutions in individual US stocks.
Build a broadband network using low-orbit satellites. $AST SpaceMobile (ASTS.US)$It is bearish due to the signing of a stock sale agreement of up to $400 million with multiple financial institutions. The agreement was signed with B. Riley Securities, Barclays Capital Securities, Bank of America Securities, Cantor Fitzgerald Securities, Deutsche Securities, Ross Capital Partners, Scotia Capital (USA) Securities, and UBS Securities.
Build a broadband network using low-orbit satellites. $AST SpaceMobile (ASTS.US)$It is bearish due to the signing of a stock sale agreement of up to $400 million with multiple financial institutions. The agreement was signed with B. Riley Securities, Barclays Capital Securities, Bank of America Securities, Cantor Fitzgerald Securities, Deutsche Securities, Ross Capital Partners, Scotia Capital (USA) Securities, and UBS Securities.
Arm, a major US securities firm's analysts, are highlighting as a top pick for US individual stocks.
Analysts from major US securities firms have raised their outlook for the semiconductor sector and designated it as a top pick. The target stock price remains at $175, over 44% higher than the previous day's closing price. $Arm Holdings (ARM.US)$Being designated as a top pick, the target stock price is maintained at $175, over 44% higher from the previous closing price.
Analysts from major US securities firms have raised their outlook for the semiconductor sector and designated it as a top pick. The target stock price remains at $175, over 44% higher than the previous day's closing price. $Arm Holdings (ARM.US)$Being designated as a top pick, the target stock price is maintained at $175, over 44% higher from the previous closing price.
If re-elected, Mr. Trump will appoint Mr. Mask as the head of the Government Efficiency Commission, which may raise conflicts of interest.
On the 5th, former US President Donald Trump delivered a speech at the Economic Club of New York, outlining the economic policy for his second term. He officially proposed the establishment of the Government Efficiency Committee, an idea put forward by renowned entrepreneur Elon Mask.
On the 5th, former US President Donald Trump delivered a speech at the Economic Club of New York, outlining the economic policy for his second term. He officially proposed the establishment of the Government Efficiency Committee, an idea put forward by renowned entrepreneur Elon Mask.
OPEC Plus has reportedly agreed to delay production cuts, easing concerns about oversupply. As a result, the crude oil futures market at the New York Mercantile Exchange (NYMEX) around midday on the 5th is trading at approximately 2% higher at about $70.61 per barrel.
According to Bloomberg, OPEC and its allies in OPEC Plus have agreed to postpone production cuts for two months. This has eased concerns about oversupply, with crude oil futures trading around 2% higher at approximately $70.61 per barrel on the New York Mercantile Exchange (NYMEX) before noon on the 5th.
According to Bloomberg, OPEC and its allies in OPEC Plus have agreed to postpone production cuts for two months. This has eased concerns about oversupply, with crude oil futures trading around 2% higher at approximately $70.61 per barrel on the New York Mercantile Exchange (NYMEX) before noon on the 5th.
Foreign Exchange
Major market events
![[Morning report] U.S. stock market fluctuates on labor market data, with Applied Digital, backed by Nvidia, surging 65%.](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240906/053662b3fd1c39e78c5a391e77866dc0.png/big?area=105&is_public=true)
Source: moomoo, Bloomberg, Dow Jones, MINKABU
This article uses auto-translation partially.
This article uses auto-translation partially.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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