Tech Stocks Tumble As Small Caps, REITs, Gold Miners Rally; Soft June Inflation Ignites Rate Cut Expectations: What's Driving Markets Thursday?
Tech Stocks Tumble As Small Caps, REITs, Gold Miners Rally; Soft June Inflation Ignites Rate Cut Expectations: What's Driving Markets Thursday?
A lower-than-expected inflation report for June caused wild market reactions, leading to a surge in traders' expectations of Federal Reserve rate cuts and boosting assets that are particularly sensitive to high interest rates.
6月份低于预期的通胀报告引发了市场的波动，导致交易者预计美联储降息的预期上升，并推动那些对高利率特别敏感的资产上涨。
As the annual inflation rate slowed from 3.3% to 3%, below the predicted 3.1%, and the monthly reading indicated the first contraction (-0.1%) in four years, traders swiftly increased their odds of a September rate cut, now placing a 92% chance.
由于年通胀率从3.3%降至3%，低于预测的3.1%，月度数据显示四年来首次收缩（-0.1%），交易者迅速提高了9月份降息的可能性，目前预测几率为92%。
Surprisingly, large-cap indices such as the S&P 500 and the tech-heavy Nasdaq 100 index fell, dropping 0.9% and 2.1% respectively, with the latter eyeing its worst daily performance of 2024, previously seen on April 30. These reactions suggest that market participants had likely already priced in rate cut expectations into tech stock valuations and are now rotating from top-performing sectors to laggards.
令人意外的是，大型指数，如标普500指数和科技重股纳斯达克100指数，下跌了0.9%和2.1%，后者着眼于其2024年以来最糟糕的单日表现，此前出现在4月30日。这些反应表明，市场参与者可能已经将降息预期计入科技股的股票估值中，并正在从表现强劲的板块转向表现较弱的板块。
The outperformance of the S&P 500 real estate sector over tech by more than 5 percentage points marked the largest one-day relative change in over four years, indicating a potential sectoral shift.
标普500房地产板块对科技板块的相对超额表现超过了5个百分点，这标志着四年来最大的一天相对变化，表明可能进行板块转换。
Other assets making significant moves included small caps, with the iShares Russell 2000 ETF (NYSE:IWM) up 3.3%, its strongest one-day return since mid-December 2023; gold, up 1.7%; and long-dated Treasury bonds, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rallying 1.5%.
其他重要变动的资产包括小盘股，ishares罗素2000指数etf（纽交所：IWM）上涨了3.3%，创下了2023年中期以来最强的单日回报率；黄金上涨了1.7%；长期国债收益上涨，ishares 20+年期国债etf（纳斯达克：TLT）涨了1.5%。
Equity industries showing notable growth were those positively impacted by the prospects of lower interest rates. Homebuilders, tracked by the SPDR Homebuilders ETF (NYSE:XHB), were up 6.7% for the day, their strongest one-day performance since mid-December 2023. Regional banks, represented by the SPDR S&P Regional Banking ETF (NYSE:KRE), rose 3.4%. Gold miners, tracked by the VanEck Gold Miners ETF (NYSE:GDX), climbed 2.4%, on track for their highest close since April 2022.
受利率下降前景的积极影响，股票行业表现出明显的增长。房地产开发商，由SPDR房地产开发商ETF（纽交所：XHB）跟踪，当天上涨6.7%，创下了2023年中期以来最强的单日表现。地区银行，由SPDR标普地区银行ETF（纽交所：KRE）代表，上涨了3.4%。黄金矿业公司，由VanEck黄金矿业ETF（纽交所：GDX）跟踪，上涨了2.4%，接近自2022年4月以来的最高收盘价。
Bitcoin (CRYPTO: BTC) was flat at $57,800.
比特币（加密货币：BTC）以57,800美元持平。
Thursday's Performance In Major US Indices, ETFs
美国主要指数、etf的表现
| Major Indices | Price | 1-day %chg |
| Russell 2000 | 2,120.27 | 3.4% |
| Dow Jones | 39,754.72 | 0.1 % |
| S&P 500 | 5,583.95 | -0.9% |
| Nasdaq 100 | 20,246.76 | -2.1% |
| 主要指数 | 价格 | 1天%涨幅 |
| Russell 2000 | 2,120.27 | 3.4% |
| 道琼斯 | 39,754.72 | 0.1 % |
| S&P 500 | 5,583.95 | -0.9% |
| 纳斯达克100 | 20,246.76 | -2.1% |
Updated at 1:05 PM ET
更新于美东时间下午1:05
According to Benzinga Pro data:
根据Benzinga Pro的数据：
- The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.9% lower to $556.201.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) inched 0.1% higher to $397.59.
- The tech-heavy Invesco QQQ Trust (ARCA: QQQ) tumbled 2.1% to $492.83.
- Sector-wise, the Real Estate Select Sector SPDR Fund (NYSE:XLRE) outperformed, up by 2.5%, while the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, falling 2.4%.
- SPDR标普500ETF信托基金（纽交所：SPY）下跌0.9%，至556.201美元。
- 标普道琼斯工业平均指数ETF（纽交所：DIA）微涨0.1%，至397.59美元。
- 科技重股纳指100etf-invesco qqq trust（ARCA: QQQ）下跌2.1%，至492.83美元。
- 按板块划分，房地产选择行业精选指数etf-spdr（纽交所：XLRE）表现最佳，上涨了2.5％，而科技选择行业精选指数etf-spdr（纽交所：XLK）表现较弱，下跌了2.4%。
Thursday's Stock Movers
周四股市热门
- Tesla Inc. (TSLA) fell over 6%, after Bloomberg flagged delays in the Robitaxi project.
- Top-performers within real estate stocks were Communications Corporation (NYSE:SBA) Alexandria Real Estate Equities, Inc. (NYSE:ARE), both up 6.5%.
- PepsiCo Inc. (NYSE:PEP) was 0.4% higher, following quarterly earnings.
- Other stocks reacting to earnings were Delta Air Lines Inc. (NYSE:DAL), ConAgra Brands Inc. (NYSE:CAG), up 0.4% and down 2% respectively.
- Caesars Entertainment Inc. (NASDAQ:CZR) rose 6.7%.
- 特斯拉公司（TSLA）下跌超过6％，彭博社指出Robitaxi项目存在延迟。
- 房地产股票中表现最好的是通信公司（纽交所：SBA）和Alexandria Real Estate Equities, Inc.（纽交所：ARE），两者都上涨了6.5%。
- 百事公司（PEP）上涨了0.4%，因季度收益报告。
- 其他因季度收益而有变动的股票包括达美航空公司（纽交所：DAL），上涨了0.4%，以及ConAgra Brands Inc.（纽交所：CAG），下跌了2%。
- 凯撒娱乐公司（纳斯达克： CZR）上涨了6.7%。
- Inflation Data Sparks Rush For Gold, Real Estate, Treasuries, Yen: Traders See September Rate Cut As Done Deal
- 通货膨胀数据激发了对黄金、房地产业、国债和日元的追逐：交易员们认为9月降息是板上钉钉的事情。
Image created using artificial intelligence via Midjourney.
图像由Midjourney通过人工智能创建。