Search Mark
Home / Global Stock Markets

U.S. Stocks End Up, Nasdaq Peak; CPI Data in Spotlight

U.S. Stocks Mixed; Dow Ends 8-Day Gain, Chinese Shares Up

U.S. stocks showed mixed results on Thursday, with the Nasdaq hitting a record high as investors focused on April’s Producer Price Index (PPI) data and looked ahead to upcoming Consumer Price Index (CPI) figures.  

Morgan Stanley predicted the Federal Reserve would cut interest rates three times this year, citing a slowing U.S. economy. 

The National Federation of Independent Business (NFIB) reported that the Small Business Optimism Index rose 1.2 points from its lowest level since 2012, reaching 89.7.  

Despite this increase, the index is still significantly below the long-term average of 98. 

Brent Schutte, Chief Investment Officer at Northwestern Mutual Wealth Management, highlighted the differing economic views between Wall Street and businesses.  

He explained, “Stock market movements are based on expectations of future economic performance, rather than the present conditions. 

U.S. Stocks

Fundamental Analysis: 

Major tech stocks mostly rose; Tesla, Broadcom, and GlobalFoundries each gained over 3%, while Nvidia was up more than 1%. 

Meme stocks soared for a second day; GameStop jumped over 60%, AMC Theatres more than 30%, and BlackBerry more than 11%. 

Sectors like computer hardware, semiconductors, precious metals, and energy saw gains, with Plug Power surging over 19% and American Gold over 10%. 

Agricultural, oil and natural gas, and transport and logistics sectors declined, with Bunge dropping over 3% and FedEx nearly 3%. 

Most Chinese stocks listed in the U.S. fell, with the Nasdaq Golden Dragon China Index down 0.21%. 

Alibaba dropped over 6%, iQiyi over 5%, while companies like Vipshop and Li Auto fell over 2%. 

Zhihu and Nio surged over 7%, Tencent ADR over 4%, with XPeng Motors and Futu Holdings also seeing gains. 

Technical Analysis: 

(S&P 500 Index, 1-day chart) 

Market Trends: 

  • Nasdaq was up 122.94 points or 0.75% to 16,511.18. 
  • Dow was up 126.60 points or 0.32% to 39,558.11. 
  • S&P 500 was up 25.26 points or 0.48% to 5,246.68. 

Hong Kong Stock Market

Hong Kong’s stock market is closed on May 15th for Buddha’s Birthday. 

FTSE China A50 Index

 Fundamental Analysis: 

All three major A-share indexes declined, with real estate soaring and brokerage stocks falling. 

Sectors such as real estate, durable consumer goods, and gold jewelry saw the most gains, while sectors like motorcycles, autos, brokers, agriculture, software, and biotech faced the steepest declines. 

Technical Analysis:  

(SSE Composite Index, 1-day chart) 

Market Trends: 

  • Shanghai Composite Index (SHCOMP) was down 0.17% to 3,140.34. 
  • Shenzhen Component Index (SZCOMP) was down 0.14% to 9,655.16. 
  • ChiNext Index (CHINEXT) ) was down 0.13% to 1,853.24. 
  • SSE Sci-Tech Innovation 50 Index was down 0.49% to 756.55. 

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.

Share to

Global Stock Markets

Tech Surge Leads Nasdaq to Record High, Nvidia Soars Nearly 7%

Dow fell over 200 points, while the Nasdaq broke the 17,000 mark to reach a new all-time high. Nvidia's stock price surged past $1,100

2024-5-29 | Global Stock Markets

US Markets Closed for Memorial Day, Hong Kong Stocks Rise

Due to Memorial Day in the US and the Spring Bank Holiday in the UK, both markets are closed today. Hong Kong's three major indices rose collectively.

2024-5-28 | Global Stock Markets

US Stocks End Higher, Nvidia Continues Record Run

US stocks closed higher on Friday, with the Nasdaq reaching a record high. Both the S&P 500 and the Nasdaq marked their fifth consecutive week of gains.

2024-5-27 | Global Stock Markets