On Tuesday, July 9th, the Nasdaq and S&P 500 indexes achieved six consecutive gains, once again refreshing intraday highs, while the Dow fell.

The Nasdaq, dominated by technology stocks, rose above the 18,500 integer mark, up nearly 0.6%; the S&P 500 index hit an intraday high, approaching 5,600 points, up more than 0.28%; and the Dow, which converged with blue chip stocks, initially fell and its decline widened to more than 0.5%, before wiping out more than half of the decline. The Nasdaq had the largest relative increase among the major indices.

Most of the 'Seven Sisters' technology stocks rose. Nvidia led the way by nearly 4.4%, Tesla turned up after opening low, and rose more than 2%, achieving ten consecutive increases. Meta in the "Metaverse" surged more than 1.5% initially, Apple rose more than 0.6%, Google A rose more than 1.2%, Amazon rose more than 0.57%, while Microsoft turned down, falling by nearly 0.6% in the first half-hour.

Chip stocks rose across the board in early trading, but most of them fell after 50 minutes of trading. The Philadelphia Semiconductor Index rose more than 1%, breaking through the 5,800 point mark to hit an intraday high, and the industry ETF SOXX had risen nearly 1%, but both had short-term fluctuations before turning down. Nvidia's double long ETF rose more than 8.7%, Arm Holdings and KLA repeatedly hit intraday highs, rising more than 2% and 1.5% respectively, while Taiwan Semiconductor turned down, widening its decline by more than 1.2%.

AI concept stocks rose and fell. Super Micro Computer rose nearly 4%, while C3.ai fell 3.5%.

On the news side, Citigroup strategists said that AI stocks may not be showing signs of weakening momentum, but from historical experience, it's time to take profits on large-cap stocks. Confidence in stocks related to artificial intelligence has reached its highest level since 2019, and it is expected that most of these companies will have free cash flows that exceed analysts' expectations. Such data usually indicates "significant fluctuations" in the future. They said that although there may be no signs of a price bubble yet, the momentum of some stocks is "worrisome."

The China concept stocks index rose across the board. Among the ETFs, the China Technology Index ETF (CQQQ) rose more than 2.4%. The Chinese internet ETF (KWEB) rose more than 1.2%. The Nasdaq Golden Dragon China Index (HXC) rose more than 1.1%, breaking through the 5900 point integer mark.

Among the popular China concept stocks, Pinduoduo rose more than 1.8%, NetEase rose more than 1.6%, Baidu rose more than 2.1%, while Kepler fell more than 3% and Li Auto fell more than 0.6%.

The following is the updated content before 21:50 Beijing time.

Powell will testify on Capitol Hill tonight at 10pm. Investors are closely watching to see if Powell will give an indication of how soon the Fed can start cutting interest rates.

The three major US stock indexes rose and fell at the beginning of trading, with the Nasdaq up 0.36%, the S&P 500 index up 0.19%, and the Dow down 0.06%.

Nvidia leads the technology sector.

Leading technology stocks continued their upward trend, with Nvidia rising more than 2%, leading the technology sector, Taiwan Semiconductor rising more than 0.8%, and Intel rising for the fifth consecutive trading day, up 3.6% as of press time, its highest level since April.

Sony rose more than 4%. According to media reports, eight Japanese companies, including Sony and Mitsubishi, plan to invest 5 trillion yen between fiscal 2021 and 2029 to increase semiconductor production.

Some popular China concept stocks rose, with Alibaba and Pinduoduo rising more than 1%.

The 10-year US Treasury yield rose slightly.

Before the sale of $58 billion in three-year US Treasuries, the yield on 10-year US Treasuries rose slightly, up 2.7bp intraday and now at 4.293%.

Crude oil continues to fall.

Both Brent and WTI crude oil fell more than 0.5%.

Spot gold rose in the short term.

Spot gold rose in the short term, with an increase of about $6 intraday, to $2364.83 per ounce.