In the early morning of the 25th Beijing time, US stocks closed sharply higher on Friday, with the Dow up more than 820 points. The three major stock indexes are up at least 5% this week. The market focus remains on inflationary pressures, Fed policy and recession risks. Commodities continued to fall and copper futures hit an one-year low, easing fears of soaring inflation. The consumer confidence index for June showed a slight decline in inflation expectations.

The Dow rose 823.32 points, or 2.68%, to 31500.68; the Nasdaq rose 375.43, or 3.34%, to 11607.62; and the S & P 500 rose 116.04, or 3.06%, to 3911.77.

This week, the S & P 500 is up 6.45%, the Nasdaq is up 7.49%, and the Dow is up 5.39%.

Some analysts believe that the rebound in the U. S. stock market is a rebound in a bear market that is severely oversold. No matter what kind of rebound in U. S. stocks, it is likely to be short-lived.

On the economic data side on Friday, the University of Michigan reported that the final US consumer confidence index in June was 50, below the initial value of 50.2, and continued to decline from the final reading of 58.4 in May to a record low.

In terms of closely watched inflation expectations, US consumers expect inflation to rise to 5.3 per cent by the end of June, indicating a slight decline in consumer inflation expectations.

Tesla, Inc., the champion of US stock turnover, closed 4.48% higher on Friday, with a turnover of US $23.32 billion.Tesla, Inc. 's recent global layoffs include newly hired employees, according to media reports on Friday. It is reported that some former Tesla, Inc. employees shared their experience of being fired shortly after they were hired on LinkedIn, and some of them said that Tesla, Inc. was fired just two weeks after working. The report also said that some hourly workers were also laid off, which seems to contradict Tesla, Inc. 's statement.

Tesla, Inc. 's wave of layoffs has begun to spread to the Chinese market. Tesla, Inc. China is reported to have launched about 10 per cent of layoffs. This is part of Tesla, Inc. 's global layoff plan, the report said, citing people familiar with the matter. At the same time, recently, a user claiming to be an employee of Tesla, Inc. posted on his pulse that "he has successfully shouldered this quota." According to other certification posts for Tesla, Inc. employees, there have been layoffs in delivery and sales posts, and the compensation scheme may be "Nissan 3".

With regard to Musk's acquisition of Twitter, Twitter agreed to provide Musk with more data this week, this time including real-time API data, according to people familiar with the matter. Insiders believe that the new data suggest that Musk may renegotiate the transaction price as soon as possible, saying that the value of Twitter has changed as the new information changes.

In second place, Apple Inc Company closed 2.59% higher, with a transaction of US $12.56 billion.Four US Democratic lawmakers urged the Federal Trade Commission (FTC) to investigate Apple Inc and Alphabet Inc-CL C, alleging that Apple Inc and Alphabet Inc-CL C created harmful practices by tracking on their platforms. The four Democratic lawmakers reportedly called on FTC to investigate Apple Inc and Alphabet Inc-CL C's creation of harmful ad tracking and ID on their platform.

In addition, there are reports that Apple Inc is likely to publicly release AR glasses in January 2023. Guo Mingyi, an analyst at Tianfeng International Securities, said that the sale of Apple Inc and the huge potential consumer demand in the Chinese market will be conducive to the sustained and rapid growth of the sector.

The third place Meta Platforms closed 7.19% higher, with a transaction of US $11.57 billion.Analysts believe that Meta Platforms's investment cuts in AR glasses will help other manufacturers in the industry.

The eighth place AMD closed 5.67% higher, with a transaction of $7.62 billion.Morgan Stanley said that even if the semiconductor group's rally comes to an end, considering that the valuation of AMD is already in a reasonable range after falling nearly 50 per cent from its peak at the end of last year, it is most likely to perform relatively well at a time when the semiconductor population is revised. Morgan Stanley maintained its AMD rating at "better than the market", with a target price of $103.

In 11th place, BABA closed 4.91% higher, with a turnover of US $3.14 billion.

In 12th place, Airbnb gained 8.14%, with a turnover of US $2.97 billion.Peter Saleh, an analyst at BTIG, said that air tickets and hotel prices are continuing to rise as inflation rises, which will dampen consumers' willingness to spend on travel.

The analyst pointed out that a follow-up survey by the bank showed that traffic on Airbnb, Booking Holdings Inc and Expedia platforms showed a downward trend so far in June, which may be the first sign that macro pressure is starting to affect tourism behavior. "most importantly, we see the change in this trend as a potential early warning sign that the tourism industry is not immune to growing macro pressures."

The 15th western oil company closed 2.55% higher, with a turnover of $2.63 billion.Neal Dingmann, an analyst at Truist, said Buffett's Berkshire Hathaway had a "good chance" of buying the company, raising its target price to $93 and maintaining its buy rating. Berkshire Hathaway had bought another 9.6 million shares of western oil, raising its common stake to 16.3 per cent.

The following are the 20 most actively traded stocks of the day (by turnover):