Editor's note: "US Stock Gold Mining" Keep up with daily market trends, insight, and consolidate hot and outstanding stocks, providing multi-dimensional investment opportunities for Mooer and helping them grasp investment opportunities with one chart! Focus on: 1. Performance and stock prices take off! Global fast fashion giant $Gap Inc (GPS.US)$ soared nearly 29% after its performance, reaching a new high for the year. Gap announced its first fiscal 2023 first-quarter results, with net sales of $3.4 billion, exceeding analysts' expectations of $3.28 billion, and earnings per share of $0.41, with overall comparable sales growth of 3%, better than expected 0.91%. In addition, the gross profit margin for the quarter reached 41.2%, higher than analysts' forecast of 38.5%. Its subsidiary brand Old Navy's same-store sales grew by 3%, exceeding market expectations of 2.5%. Based on this, Gap raised its sales and operating profit outlook for the year. Baird has recently raised its target share price for Gap from $23 to $28, and Goldman Sachs has raised its target share price for Gap from $20 to $27. 2. US electric power stocks collectively agitated! The largest wind and solar power generator developer in the United States $NextEra Energy (NEE.US)$, the fourth largest power plant in the United States $Southern Company (SO.US)$, the power and natural gas company $CenterPoint Energy (CNP.US)$, and the electrical production and transmission company $Edison International (EIX.US)$ have all reached new highs for the year. On the news front, as AI technology often requires a lot of energy to develop and operate, utility stocks are becoming a new opportunity for investors. 3. Low-key AI beneficiaries! Data storage giantMonthly Hong Kong and US Bull and Bear StocksThis section closely follows market trends, takes stock of monthly performances in the Hong Kong and US stock markets, helps Mooers sort out hot sectors, strong individual stocks, and major news of the month, and seeks investment themes that can make money.
In the first half of 2024, the US stock market ended positively, and the rebound of some of the world's largest technology companies pushed major stock indexes to hit record highs multiple times.$S&P 500 Index (.SPX.US)$It has risen about 15% so far this year, setting a record for the most first-half highs since 2021, with 31 closing highs.
The three major US stock indexes rose collectively this month, putting a perfect end to the first half of the year. Large-cap tech stocks continued their rally, driving the Nasdaq up by 6.71% this month, the best performer. The S&P 500 rose 3.89% this month and the Dow Jones rose 1.23%.
In terms of specific individual stock performance, RNA bio-pharmaceutical company$Alnylam Pharmaceuticals (ALNY.US)$soared more than 34% in a single day and rose more than 66% this month, ranking first among the top gainers this month due to the third-phase clinical data meeting expectations.
In addition, the optional consumer sector performed well, occupying nearly half of the top gainers.
Pet concept stocks$Chewy (CHWY.US)$rose nearly 37% this month. Recently, due to the online meme "leader" Keith Gill posting an image highly similar to Chewy's logo, it has attracted a lot of attention; the largest online used car dealer in the United States,$Carvana (CVNA.US)$rose nearly 33% this month and was also once a representative symbol of "Meme Stocks", having risen more than 10 times in 2023.
In addition, electric vehicle companies$Rivian Automotive (RIVN.US)$received a $5 billion investment plan from Volkswagen and soared more than 31% this month; with outstanding performance, the cruise industry has strong travel demand,$Carnival (CCL.US)$rose 23% this month, and Bank of America raised its target stock price to $24.
Tech stocks also performed extremely well, benefiting from the continuation of the AI boom,$Arm Holdings (ARM.US)$rose more than 38% this month. SoftBank CEO Masayoshi Son said Arm was crucial for super artificial intelligence. In addition, optical module leader$Coherent (COHR.US)$and cybersecurity stocks$CrowdStrike (CRWD.US)$also rose nearly 24% each with excellent performance.$Adobe (ADBE.US)$rose more than 14% the day after its performance report, and rose nearly 23% this month. Recently, it has received target price upgrades from multiple large banks.
On the other hand, the following stocks performed weakly this month:
Editor/Emily