Search Mark
Home / Global Stock Markets

Nasdaq and S&P 500 Hit Record Highs, Tesla Surges Over 6%


Nasdaq and S&P 500 Hit Record Highs, Tesla Surges Over 6%

US stocks closed mixed on Wednesday. The S&P 500 and Nasdaq reached new all-time highs. June ADP private sector employment numbers came in lower than expected, indicating a gradual cooling in labor demand. Today’s trading was light as US markets closed early ahead of the Independence Day holiday.

Trading volume was light on Wednesday, with the New York Stock Exchange closing early at 1 PM ET. US markets will be closed on Thursday for the Independence Day holiday. Paramount Global shares surged 6.9%.

ADP Chief Economist Nela Richardson commented, “Job growth has been steady, but not broad-based across industries. Without the rebound in hiring in leisure and hospitality, June would have been a downbeat month.”

US Stocks

Fundamental Analysis: 

Most large-cap tech stocks rose, with Tesla surging over 6%, marking its seventh consecutive day of gains and recovering its year-to-date losses. Nvidia rose over 4%, while Microsoft and Apple also saw slight increases, both hitting new record highs. Amazon fell more than 1%.

Energy, precious metals, and semiconductor sectors led the gains, with Plug Power up over 8%, Century Aluminum up over 6%, and Hecla Mining, Coeur Mining, Pan American Silver, and Southern Copper all rising more than 5%.

Broadcom gained over 4%, and TSMC and Micron Technology both rose over 3%, while ARM and ASML were up over 2%.

Most popular Chinese stocks rose, with the Nasdaq Golden Dragon China Index up 3.31%. Douyu surged over 42%, XPeng Motors rose over 9%, NIO and iQIYI were up more than 7%, Li Auto climbed over 6%, and Bilibili and Futu Holdings both gained more than 4%.

Baidu, Tencent Music, and Weibo were up more than 3%, while JD.com, Alibaba, Pinduoduo, Vipshop, and NetEase rose over 2%, and Full Truck Alliance gained more than 1%.

Technical Analysis: 

(S&P 500 Index, 1-day chart) 

Market Trends: 

  • Dow Jones: Down 23.85 points, or 0.06%, at 39,308.00
  • Nasdaq: Up 159.54 points, or 0.88%, at 18,188.30
  • S&P 500: Up 28.01 points, or 0.51%, at 5,537.02

Hong Kong Stock Market

 Fundamental Analysis: 

Hong Kong’s major indices pared gains, with most tech stocks rising. Meituan rose over 2%, and Alibaba and Baidu gained over 1%, while NetEase fell more than 1%. Following the announcement of the “integrated car-road-cloud” pilot list, auto stocks surged, with NIO up over 5%.

Gold stocks led the gains, with Zijin Mining up more than 3%. Graphite concept stocks were strong, with E-Stone New Material up over 28% and China Graphite up over 11%. Biotechnology stocks led the declines, with Kangning Jerei Pharmaceuticals down over 6%.

Gold stocks led the gains, with Zijin Mining up more than 3%. Before the US market opened on Wednesday, the ADP reported that U.S. private sector employment increased by 150,000 in June, the smallest increase since February and below the previous estimate of 160,000. The May figure was revised up from 152,000 to 157,000.

Technical Analysis: 

(Hang Seng Index, 1-day chart) 

Market Trends: 

  • Hang Seng Index: Up 0.05%, at 17,988.25
  • Hang Seng Tech Index: Up 0.48%, at 3,644.20
  • Hang Seng China Enterprises Index: Up 0.03%, at 6,457.56

FTSE China A50 Index

Fundamental Analysis: 

China’s A-shares saw a surge and then a retreat, with the ChiNext Index briefly gaining nearly 1%. The humanoid robot sector led the gains, while tourism and duty-free concepts pulled back.

Humanoid robots, precious metals, PEEK materials, and industrial metals were among the top gainers. Financial and tax digitization, retail, real estate, and food consumption sectors were among the top losers.

Technical Analysis: 

(SSE Composite Index, 1-day chart) 

Market Trends: 

  • Shanghai Composite Index: Down 0.43%, at 2,985.01
  • Shenzhen Component Index: Down 0.40%, at 8,725.26
  • ChiNext Index: Down 0.22%, at 1,656.46

Risk Disclosure
Trading in financial instruments involves high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding the investor’s initial investment could incur within a short period of time. The past performance of a financial instrument is not an indication of its future performance. Investments in certain services should be made on margin or leverage, where relatively small movements in trading prices may have a disproportionately large impact on the client’s investment and the client should therefore be prepared to suffer significant losses when using such trading facilities.

Please ensure you read and fully understand the trading risks of the respective financial instrument before engaging in any transaction with Doo Prime’s trading platforms. You should seek independent professional advice if you do not understand any of the risks disclosed by us herein or any risk associated with the trade and investment of financial instruments. Please refer to Doo Prime’s Client Agreement and Risk Disclosure Statement to learn more.

Disclaimer      
This information is addressed to the general public solely for information purposes and should not be taken as investment advice, recommendation, offer, or solicitation to buy or sell any financial instrument. The information displayed herein has been prepared without any reference or consideration to any particular recipient’s investment objectives or financial situation. Any references to the past performance of a financial instrument, index, or a packaged investment product shall not be taken as a reliable indicator of its future performance. Doo Prime and its holding company, affiliates, subsidiaries, associated companies, partners and their respective employees, make no representation or warranties to the information displayed and shall not be liable for any direct, indirect, special or consequential loss or damages incurred a result of any inaccuracies or incompleteness of the information provided, and any direct or indirect trading risks, profit, or loss arising from any individual’s or client’s investment.

Share to

Global Stock Markets

Nasdaq, S&P 500 Reach New Highs, Tesla Climbs 6%

Nasdaq and S&P 500 hit record highs as Tesla surged over 6%. Investors are closely watching upcoming inflation data and earnings reports

2024-7-11 | Global Stock Markets

Stocks Mixed as Nasdaq, S&P 500 Soar to Record Highs

US stocks closed mixed with the S&P 500 and Nasdaq setting new record highs. Powell emphasized the need to avoid premature rate cuts despite easing inflation

2024-7-10 | Global Stock Markets

US Stocks Closed for Independence Day Holiday

Due to the Independence Day holiday, US stocks market was closed. The dollar fell for the third consecutive trading day as trading volume remained light

2024-7-5 | Global Stock Markets