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Biden's sudden announcement of his withdrawal from the election today was absolutely shocking!
Many technology financial reports will be released one after another this week and next month
Before, Biden withdrew from the election, and later, there were tech financial reports
This has certainly increased the uncertainty in the market
Today, less than 2 hours after the opening of the Malaysian stock market, 1,000 stocks fell sharply
This undoubtedly reflects that the sentiment of Malaysian stocks is also influenced by the US
Tesla and Google will release earnings this week
The market is also weighing the potential impact of Biden's withdrawal on the market
This dramatic political change is relatively calm for US stocks
Last week, the Democratic Party began to dissuade Biden
For the American people, Biden's withdrawal should have been within expectations
I believe it should have little impact on US stocks
What is more noteworthy now is the financial reports of the 7 giants
and some macroeconomic data
The decline in Malaysian stocks today should have been influenced by sentiment
We only need to keep in mind our own strategies and then strictly implement them
The rest is left to the market to decide
If I get rich next month, I'll go to Johor
We'll see you soon~
$Tesla(TSLA.US)$ $Alphabet-C(GOOG.US)$ $Alphabet-A(GOOGL.US)$
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Poor earnings reports from tech giants triggered a market panic sell-off, leading to a significant decline in US stocks. The S&P 500 and Nasdaq both recorded their biggest one-day declines in a year and a half, falling 2.3% and 3.6%, respectively. This decline caused the S&P 500 to fall below the 50-day EMA for the first time since May, ending the longest record of a single-day decline of more than 2% since 2007. The Dow also fell 500 points, and the small-cap stock index fell 2.1%. The sharp decline in Tesla, Google, and chip stocks further increased downward pressure on the market.
Furthermore, former Federal Reserve officials called for immediate interest rate cuts to cope with the economic slowdown. At the same time, the Bank of Canada announced a 25 basis point cut in interest rates and hinted that interest rates may be cut further in the future. This policy shift reflects increased pressure to ease monetary policies around the world.
Among other market trends, the US Markit manufacturing PMI hit a seven-month low, while the service sector PMI reached a 28-month high, indicating increased differentiation between manufacturing and service industries. Eurozone economic data also showed that manufacturing was weak. In particular, Germany's composite PMI unexpectedly contracted, increasing the risk of a recession.
In the Asian market, despite the general decline in global stock markets, the Shanghai Index returned above 2,900 points. Electricity stocks rose against the market, and Changjiang Electric Power's stock price reached a new high. This shows that against the backdrop of increased global market volatility, some Asian markets have shown some resilience.
$Tesla(TSLA.US)$ $Alphabet-C(GOOG.US)$ $iShares Semiconductor ETF(SOXX.US)$ $Russell 2000 Index(.RUT.US)$
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$Tesla(TSLA.US)$ and $Alphabet-A(GOOGL.US)$ $Alphabet-C(GOOG.US)$ report earnings after the close.
Which stock do you like MORE?

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$Alphabet-A(GOOGL.US)$ is releasing its Q2 earnings on July 23 after the bell. Unlock insights with GOOGL Earnings Hub>>
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Since its Q1 earnings release, shares of $Alphabet-A(GOOGL.US)$ have seen an increase of 11.77%. How will the market react to the upcoming resul...