FX168 Financial News (North America) News On Thursday (November 21), US stocks rose, and investors turned to cyclical stocks benefiting from economic acceleration. The market has escaped the shock caused by Nvidia's strong slowing gains and the escalation of tension in the Russian-Ukrainian crisis. #美股收评 #

Stock market performance

The Dow Jones index closed up 461.88 points, or 1.06%, to 43870.35 points; the S&P 500 closed up 31.60 points, or 0.53%, to 5948.71 points; the Nasdaq Composite closed up 6.28 points, or 0.03%, to 18972.42 points.

(Source: FX168)

(Source: FX168)

Siebert Chief Investment Officer Mark Malek (Mark Malek) said: “This week is a week for the market to re-examine the 'Trump Deal'. Investors are starting to take this subject more seriously. It's not enough to just predict that a sector will perform well; you have to provide specific answers.”

Thursday's winners included bank stocks such as Goldman Sachs, as well as industrial giant Caterpillar (Caterpillar) and retailer Home Depot (Home Depot). As an indicator of the performance of small companies, and is seen as likely to benefit from the economic policies of President-elect Donald Trump (Donald Trump)Russell 2000 Index(Russell 2000 Index) is up more than 1.8%.

Investors assessed the performance of AI chip giant Nvidia (Nvidia). Nvidia has risen 190% so far this year. Although the company reported third-quarter earnings that exceeded expectations and issued strong performance guidelines, the stock price fluctuated greatly. Some traders attributed this to revenue growth slowing from previous quarters or worrying that the company failed to beat the most optimistic performance expectations.

AXS Investments CEO Greg Bassuk (Greg Bassuk) said: “Although Nvidia's strong performance demonstrates a significant rise in AI growth, investors should carefully consider Nvidia's sustainability that continues to significantly exceed expectations.” He anticipates that the long and short game surrounding chip stocks will lead to potential volatility.

Market views

Market research firm Fundstrat strategists expect US stocks to continue to rise during the US holiday week, but December may experience some degree of weakness.

“Nvidia's earnings report didn't change the possibility of a pre-Thanksgiving rally,” they wrote. “There has been little change in the long-term trajectory of AI, but market uncertainty about Nvidia's performance has been removed, which is more important than a short-term response.”

Tom Essaye (Tom Essaye), founder of The Sevens Report and a former Merrill Lynch trader, believes that the performance reports released by Walmart (Walmart) and Target (Target) this week contradict each other, showing that American consumers are cautious about spending.

“The current state of the labor market and consumer spending showssoft landingIt's a sign, it's a positive sign,” he said. “But these areas are also vulnerable, and once they get worse,hard landingThe possibility will increase dramatically, which is a clear negative factor for the stock market.”

Individual stocks in focus

The highlight of the tech sector is Snowflake, whose share price soared by nearly 30% as the company surpassed Wall Street expectations and raised its full-year product revenue guidance.