The U.S. stock market ended a five-week positive streak as investors feared that slowing economic momentum could impact the earnings outlook for American corporations.
The U.S. economy grew at an annualized rate of 1.3% in the first quarter, marking a downward revision from the previous estimate of 1.6%.
The Fed's preferred inflation measure remained steady in April, easing some worries about resuming price pressures. Yet, slowing spending and income growth also signaled weakening consumer health, while the Chicago business activity gauge plummeted to its lowest level since May 2020, raising concerns about a potential end-cycle slowdown.
The tech sector, as tracked by the Technology Select Sector SPDR Fund (NYSE:XLK), was the worst performer of the week, while utilities, tracked by the Utilities Select Sector SPDR Fund (NYSE:XLU), outperformed as investors shifted their focus to defensive sectors.
Trump Stock Drops
Trump Media & Technology Group Corp (NASDAQ:DJT)'s stock fell after former President Donald Trump was found guilty of 34 charges related to falsified business records. Despite strong support from some investors, concerns over the company's financial performance and the decline in user engagement on Truth Social have impacted investor sentiment.
Nvidia Valuation Soars
Nvidia Corp. (NASDAQ:NVDA) saw its market capitalization surge to $2.805 trillion, surpassing the combined value of Tesla Inc. (NASDAQ:TSLA), Exxon Mobil Corp. (NYSE:XOM), Walmart Inc. (NYSE:WMT), Costco Wholesale Corp. (NASDAQ:COST), Netflix Inc. (NASDAQ:NFLX), Intel Corp. (NASDAQ:INTC), Walt Disney Co. (NYSE:DIS), and PepsiCo Inc. (NASDAQ:PEP). The company's stock hit new all-time highs due to increased investor confidence, partly driven by Nvidia's advancements in AI technology and the potential use of its products in Elon Musk's supercomputing projects.
Record Home Prices
U.S. home prices reached all-time highs in March 2024, with a 7.4% year-on-year increase, marking the fastest growth rate in over a year. San Diego led with an 11.1% annual gain, followed by New York and Cleveland.
Stocks Outperforming Nvidia
Nvidia's stock surged 186% over the last year, driven by AI chip demand. Seven other U.S. stocks, including Vera Therapeutics Inc. (NASDAQ:VERA) and MoneyLion Inc. (NYSE:ML), more than doubled Nvidia's returns. These companies benefited from advancements in biotech, fintech and retail, showcasing diversified industry growth.
Biden's Ceasefire Plan
President Joe Biden proposed a comprehensive ceasefire deal between Israel and Hamas on Friday, emphasizing a roadmap for enduring peace and the release of hostages. The plan includes a ceasefire, prisoner exchanges, and Gaza's reconstruction with international cooperation.
由於投資者擔心經濟勢頭放緩可能會影響美國公司的盈利前景，美國股市結束了爲期五週的上漲勢頭。
美國經濟在第一季度以1.3％的年化增長率增長，與之前的1.6％相比向下修正。
聯儲局首選的通脹指標在4月份保持穩定，緩解了人們對價格壓力恢復的擔憂。然而，支出和收入增長放緩也預示着消費者健康狀況減弱，而芝加哥商業活動指標跌至2020年5月以來的最低水平，引發了人們對週期末可能放緩的擔憂。
科技精選板塊SPDR基金（紐約證券交易所代碼：XLK）追蹤的科技板塊是本週表現最差的板塊，而公用事業精選板塊SPDR基金（紐約證券交易所代碼：XLU）追蹤的公用事業板塊表現跑贏大盤，因爲投資者將注意力轉移到防禦性板塊。
特朗普股價下跌
特朗普媒體與科技集團公司（納斯達克股票代碼：DJT）的股票下跌，此前前總統唐納德特朗普被判犯有34項與僞造業務記錄有關的指控。儘管得到了一些投資者的大力支持，但對公司財務表現的擔憂以及Truth Social用戶參與度的下降影響了投資者的情緒。
英偉達估值飆升
英偉達公司（納斯達克股票代碼：NVDA）的市值飆升至2.805萬億美元，超過了特斯拉公司（納斯達克股票代碼：TSLA）、埃克森美孚公司（紐約證券交易所代碼：XOM）、沃爾瑪公司（紐約證券交易所代碼：WMT）、好市多批發公司（納斯達克股票代碼：COST）、Netflix 公司（納斯達克股票代碼：NFLX）、英特爾公司（納斯達克股票代碼：INTC）的總市值，迪士尼公司（紐約證券交易所代碼：DIS）和百事可樂公司（納斯達克股票代碼：PEP）。由於投資者信心增強，該公司的股票創下歷史新高，部分原因是英偉達在人工智能技術方面的進步及其產品在埃隆·馬斯克的超級計算項目中的潛在用途。
創紀錄的房價
美國房價在2024年3月創下歷史新高，同比增長7.4％，是一年多以來最快的增長率。聖地亞哥以11.1％的年增長率領先，其次是紐約和克利夫蘭。
股票表現優於英偉達
受人工智能芯片需求的推動，英偉達的股票在去年飆升了186％。其他七隻美國股票，包括Vera Therapeutics Inc.（納斯達克股票代碼：VERA）和MoneyLion Inc.（紐約證券交易所代碼：ML），是英偉達回報率的兩倍多。這些公司受益於生物技術、金融科技和零售業的進步，展現了多元化的行業增長。
拜登的停火計劃
週五，喬·拜登總統提出了以色列和哈馬斯之間的全面停火協議，強調了持久和平和釋放人質的路線圖。該計劃包括停火、交換囚犯以及在國際合作下重建加沙。
