Harris Glides Toward Nomination, Contest with Trump -- WSJ

Vice President Kamala Harris marched toward securing the Democratic presidential nomination Monday following President Biden's decision to abandon his re-election bid, as the party coalesced around her to take on Donald Trump this fall.

WSJ20:14 ET

Did Biden's withdrawal cause market shock: Trump's chances of winning increased, pushing up the stock market, and the return of the Democratic Party may lead to a short-term adjustment?

Last Sunday, USA President Biden announced that he will not seek re-election in November, adding uncertainty for the new owner of the White House in 2025.

Zhitong Finance20:05 ET

7/23 [Strength and Weakness Analysis of Materials]

[Bullish and Bearish Materials] The Dow Jones Industrial Average (40415.44, +127.91) and the NASDAQ Composite Index (18007.57, +280.63) are both rising, as well as the Chicago Nikkei Futures (39950, up +470 from Osaka). The SOX index (5477.83, +210.67) is also rising, while the VIX index is falling (14.91, -1.61). There is an expectation of inflation calming down in the United States and a request for improved corporate value by the Tokyo Stock Exchange. On the other hand, the Nikkei Average has fallen (39599.00, -464.79).

Fisco Japan19:37 ET

S&P rose more than 1%, small cap index rose 1.7%, Tesla and Nvidia rose about 5% each, while commodity fell again.

U.S. stocks rose with the S&P up over 1%, the largest increase in seven weeks, and the NASDAQ up 1.6%. Funds have returned to small cap stocks, with the small cap index rising 1.7%. Investors bought U.S. tech stocks on the dip, and only Apple and Amazon among the seven tech giants declined, with Tesla and Nvidia both up about 5%. Cybersecurity leader CrowdStrike, which triggered a global IT failure, fell more than 13%, nearly erasing this year's gains. Some Trump trades cooled down, with electric cars and photovoltaic stocks rising and petroleum stocks falling. There was a new variable in the U.S. presidential election over the weekend, and safe-haven demand initially pulled down U.S. bond yields and the dollar while boosting gold, but panic subsided and the VIX volatility index fell 10% from its highest level in nearly three months. The China concept stock index surged 2.8%, while offshore Renminbi fell more than 110 points to a two-week low. Oil prices initially fell more than 1%, and metal fell sharply.

wallstreetcn19:01 ET

UBS Wealth Management Chief Investment Officer: don't chase after the rise of small cap US stocks as the upward trend is not sustainable.

Lisa Shalett believes that the profit issues of small cap stocks are unlikely to be solved by a 75 basis point rate cut by the Federal Reserve. The prospect of the Republican Party winning the November election in the United States may stimulate the small cap stock market, but this is expected to be short-lived. Fund rotation is sustainable, and large cap stocks and high-quality cyclical stocks are preferred.

wallstreetcn18:20 ET

Nvidia, Tesla, Rest of Mag 7 Lift Stock Market Higher | Wall Street Today

The S&P 500 Index recovered from its biggest weekly slump since April, and the Nasdaq Composite Index rebounded, buoyed by gains in Nvidia, Tesla and the rest of their Magnificent Seven peers.

Moomoo Recap US16:40 ET · Markets