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.
Option Volatility | AI Stocks on the Radar as Palantir and Super Micro Face Earnings Verdict
Deutsche Bank: Tencent is a "safe haven with a catalyst".
Morgan Stanley predicts that Tencent's gaming business is expected to achieve high growth in Q2 of this year and become a leading indicator for the company's future profits exceeding expectations. Morgan Stanley set a target price of HKD 450 for Tencent's Hong Kong stocks, which is 25.6% higher than the Friday closing price.
Alibaba Cloud Increases Domain Auction Prices As AI Competition Heats Up: Report
Alibaba has fired the first shot against the trend of working long hours and intense competition within the company.
Proactively adjust.
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