S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Express News | Shares of Semiconductor and Chip Stocks Are Trading Higher Amid an Overall Market Rebound After Softer-than-expected Jobless Claims Possibly Alleviated Some US Economic Concerns
Over 50% of the Nasdaq-100 Names Trade Below Their 200-day Moving Average
Citi Spotlights 33 Stocks in What It Calls Its 'Post Pullback Shopping List'
4 Solid Semiconductor Stocks to Buy on Accelerating Sales
$1000 Invested In This Stock 15 Years Ago Would Be Worth $14,000 Today
10baggerbamm : you better pray that China doesn't go into Taiwan because the US will protect Taiwan they're in Ally and you know what that means...
BagHolder23 OP 10baggerbamm : We're an ecosystem rather than independent nations so conflict is never good.
Recent downturn for semiconductors started the same week Biden announced new export restrictions and Trump said that if elected he would prevent US military intervention between PRC and ROC.
This is also why supply chains are looking to diversify their production base.
But this doesn't fully explain the sell off, the demand for these products still exists, the businesses fundamentals have not changed, and they are all still announcing record profits.
Which is why I ask, is this just an anxiety driven downturn and for an equipment manufacturer like AMAT isn't new manufacturing hubs being established a good thing?
10baggerbamm BagHolder23 OP : the market's not rational that's number one number two you have massive Short selling taking place that's my opinion these hedge funds are bloodthirsty and they seize momentum opportunities they see the support lines just like everything else and they break them and it creates a cascading effect snowball downhill and after hours we'll just hit the bids they'll just keep selling naked shorting and slam the shit out of stocks. companies are still making money employees are still going to work it's an absence of buyers and when people start getting margin calls which I think started last week it accelerates the sell-off I listen to the CEO of interactive brokers and he was bragging about how much money they're making through margin interest people are getting wiped out right now liquidations are 330% if you sell stock versus bring in cash. and don't think for a moment well it's good for AMD because the same philosophy was oh it's good for Intel when I ran up to 37.. hello manufacturer chips in the US yeah and a foundry that doesn't even exist in California that won't be completed till late 28 29 maybe. everything is being sold as a basket it'll stop I don't know when it will I thought yesterday was a reversal but when one company moves a whole sector down it's not done