U.S. Stocks
Fundamental Analysis:
U.S. stocks bottomed out yesterday, with the S&P 500 ending a previous four-session losing streak.
The market focused on Nvidia’s earnings report and the prospect of the Federal Reserve sticking to raising interest rates to curb inflation.
U.S. first-time jobless claims data last week showed labor market conditions remain tight.
By the close of trading, the Nasdaq rose 0.72%, the Dow Jones rose 0.33% and the S&P 500 rose 0.53%.
Most large technology stocks were higher, Apple rose 0.33%, Microsoft rose 1.30%, Google fell 0.80%, Amazon rose 0.03%, Tesla rose 0.60%, Meta rose 0.54%.
Nvidia closed up 14.02%, the largest intraday gain in 15 months, after the company expressed optimism about its revenue outlook for the current quarter.
Chip stocks pulled up collectively, with the Philadelphia Semiconductor Index rising 3.33%, including AMD up 4.1%, TSMC up 3.74% and Micron Technology up 3.11%.
Energy stocks rose collectively, ConocoPhillips, Schlumberger, Occidental Petroleum rose more than 1%, Exxon Mobil, Chevron rose nearly 1%.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow pays attention to the 33233-line today. If the Dow runs stably above the 33233-line, then pay attention to the suppression strength of the 33390 and 33584 positions.
Hong Kong Stocks
Fundamental Analysis:
U.S. stocks rose overnight, while Chinese stocks were weak.
Hong Kong stocks opened lower, the Hang Seng Index (HSI) fell 0.63%, the Hang Seng China Enterprises Index (HSCEI) fell 0.84%, the Hang Seng TECH Index (HSTECH) fell 1.36%.
On the market, Chinese concept stocks returning to Hong Kong fell significantly, after the announcement of results, NetEase, Inc. (9999.HK) fell more than 6%, Alibaba Group Holding Limited (9988.HK) fell 2%, KE Holdings Inc. (2423.HK), Baidu, Inc. (9888.HK) fell 3%.
Domestic housing stocks, Apple concept stocks, domestic insurance stocks, film and entertainment stocks were lower, travel and tourism stocks Tongcheng Travel Holdings Limited (0780.HK) fell 3%.
On the other hand, in response to accusations from short-sellers, Techtronic Industries Company Limited (0669.HK), which has been falling sharply, resumed trading and opened 5% higher.
TTI rose nearly 5%, denying the allegations contained in the short-selling report.
Semiconductor stocks and biotechnology stocks mostly rose, while Hua Hong Semiconductor Limited (1347.HK) rose 1.45%.
Technical Analysis:
(HK50, 1-hour chart)
Execution Insight:
HK50 pays attention to the 21450-line today. If HK50 can run stably above the 21450-line, then pay attention to the suppression strength at the two positions of 22127 and 22785.
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