US market outlook: the number of people employed in the non-farm sector in the US increased by 0.272 million people in May, and the Dow average, which greatly exceeded expectations, started at a drop of 24 dollars
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Market Overview
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, began at 38861.24 dollars with a depreciation of 24.93 dollars, and the Nasdaq Comprehensive Stock Price Index, which has a high high-tech stock ratio, fell 48.98 points at 17124.14. The S&P 500 average, which consists of stocks of 500 companies that are large US stocks, fell 9.15 points to 5343.81.
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, began at 38861.24 dollars with a depreciation of 24.93 dollars, and the Nasdaq Comprehensive Stock Price Index, which has a high high-tech stock ratio, fell 48.98 points at 17124.14. The S&P 500 average, which consists of stocks of 500 companies that are large US stocks, fell 9.15 points to 5343.81.
Top news
The number of people employed in the non-farm sector in the US increased by 272,000 in May, significantly exceeding market expectations of an increase of 182,000
● The US Department of Labor announced that the number of people employed in the US non-farm sector has increased rapidly, the unemployment rate has unexpectedly risen, and the labor market is showing a complicated situation.
●The number of people employed in the non-farm sector in MayIs272,000 people increase、It exceeded market expectations of an increase of 182,000 people.It surpassed the average monthly increase of 232,000 people over the past 12 months. Meanwhile,The number of people employed in the non-farm sector in AprilFrom 175,000 to 165,000revised downward。
● The US Department of Labor announced that the number of people employed in the US non-farm sector has increased rapidly, the unemployment rate has unexpectedly risen, and the labor market is showing a complicated situation.
●The number of people employed in the non-farm sector in MayIs272,000 people increase、It exceeded market expectations of an increase of 182,000 people.It surpassed the average monthly increase of 232,000 people over the past 12 months. Meanwhile,The number of people employed in the non-farm sector in AprilFrom 175,000 to 165,000revised downward。
The market is eyeing the Fed
● Expectations for interest rate cuts have been rising over the past week. In addition to the fact that there was a succession of US data that fell short of expectations, the fact that the Central Bank of Canada and the European Central Bank implemented policy relaxation also gave a boost.
● In the swap market, the Fed will cut interest rates by November, and there is a high possibility that interest rate cuts will also be implemented in September. Nevertheless, JPMorgan and Citigroup are among the few banks that anticipate that the Federal Reserve will ease next month as well.
● Expectations for interest rate cuts have been rising over the past week. In addition to the fact that there was a succession of US data that fell short of expectations, the fact that the Central Bank of Canada and the European Central Bank implemented policy relaxation also gave a boost.
● In the swap market, the Fed will cut interest rates by November, and there is a high possibility that interest rate cuts will also be implemented in September. Nevertheless, JPMorgan and Citigroup are among the few banks that anticipate that the Federal Reserve will ease next month as well.
Government bonds are doing well
● Optimism about interest rate cuts spread, and the world's government bonds recorded the longest continuous rise since November.
● Even so, although it is good news for bonds, Bank of America warns that the Fed's easing is the “first sign of trouble” for the economy, and if the market becomes more convinced of interest rate cuts in the latter half of 2024, the possibility of a hard landing will increase.
● Optimism about interest rate cuts spread, and the world's government bonds recorded the longest continuous rise since November.
● Even so, although it is good news for bonds, Bank of America warns that the Fed's easing is the “first sign of trouble” for the economy, and if the market becomes more convinced of interest rate cuts in the latter half of 2024, the possibility of a hard landing will increase.
Why was Apple late in the AI arms race
The demonstration of the “Siri (Siri)” improved version held within Apple in the early 2020s showed people who saw it the amazing abilities that powerful artificial intelligence (AI) voice assistants can have.
The demonstration of the “Siri (Siri)” improved version held within Apple in the early 2020s showed people who saw it the amazing abilities that powerful artificial intelligence (AI) voice assistants can have.
There is a possibility that the global semiconductor industry will improve after excess inventory is digested
● Yamato analysts have pointed out that there is a possibility that the global semiconductor industry will transition to a period of 2 to 3 years of improvement after excess inventory is digested.
● Demand for artificial intelligence (AI) chips continues to be strong, but he explained that the recovery of semiconductors other than AI is more uneven than expected due to prolonged excess inventory.
● Yamato analysts have pointed out that there is a possibility that the global semiconductor industry will transition to a period of 2 to 3 years of improvement after excess inventory is digested.
● Demand for artificial intelligence (AI) chips continues to be strong, but he explained that the recovery of semiconductors other than AI is more uneven than expected due to prolonged excess inventory.
Morgan Stanley is bullish on TSMC's price increase
● $Morgan Stanley (MS.US)$ In order to achieve the 53% gross profit margin target, TSMC predicts that there is a possibility that wafer prices will be raised by 5% in 2025. Over the next two years, the average sales price of 3nm wafers is expected to increase by 11%, the average sales price of 4nm wafers will rise by 3%, and the price of CoWoS packages is expected to rise 20%.
● $Taiwan Semiconductor (TSM.US)$ Mr. Wei (C.C. Wei), the new chairman of TSMC, hinted after TSMC's general shareholders' meeting on Tuesday that he was considering raising the price of the company's AI chip foundry service, and revealed that he had already discussed this issue with Mr. Jensen Jen-hsun Huang (Jensen Jen-hsun Huang), the founder and CEO of NVIDIA.
● $NVIDIA (NVDA.US)$ Mr. Jensen Jen-hsun Huang (Jensen Jen-hsun Huang), the CEO of, later acknowledged the value of TSMC's chip foundry service in response to questions about this issue. He said, “TSMC's wafer prices are certainly too low. TSMC's contributions to the world and the technology industry have been underestimated by its financial performance.”
● $Morgan Stanley (MS.US)$ In order to achieve the 53% gross profit margin target, TSMC predicts that there is a possibility that wafer prices will be raised by 5% in 2025. Over the next two years, the average sales price of 3nm wafers is expected to increase by 11%, the average sales price of 4nm wafers will rise by 3%, and the price of CoWoS packages is expected to rise 20%.
● $Taiwan Semiconductor (TSM.US)$ Mr. Wei (C.C. Wei), the new chairman of TSMC, hinted after TSMC's general shareholders' meeting on Tuesday that he was considering raising the price of the company's AI chip foundry service, and revealed that he had already discussed this issue with Mr. Jensen Jen-hsun Huang (Jensen Jen-hsun Huang), the founder and CEO of NVIDIA.
● $NVIDIA (NVDA.US)$ Mr. Jensen Jen-hsun Huang (Jensen Jen-hsun Huang), the CEO of, later acknowledged the value of TSMC's chip foundry service in response to questions about this issue. He said, “TSMC's wafer prices are certainly too low. TSMC's contributions to the world and the technology industry have been underestimated by its financial performance.”
— MooMoo News Zeber
Source: Dow Jones, Moomoo, Bloomberg
This article uses automatic translation for some of its parts
Source: Dow Jones, Moomoo, Bloomberg
This article uses automatic translation for some of its parts
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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