Source: Cai Lianshe Author: Xia Junxiong

On Wednesday Eastern Time, the three major indexes all closed higher. The S&P 500 index and the Nasdaq both rose more than 1%, reaching historic highs. The continued weakness in the US job market boosted market sentiment.

At the close, the Dow Jones Industrial Average rose 0.25% to 38,807.33; the S&P 500 Index rose 1.18% to 5,354.03; and the Nasdaq rose 1.95% to 17,186.38.

ADP employment data released on Wednesday showed that private employment in the United States increased by 152,000 in May, the smallest increase since February, significantly lower than the market's previous estimate of 173,000 in May. The data for April was revised down from 192,000 to 188,000.

This data is the latest sign of cooling in the U.S. job market, and investors hope it will prompt the Fed to start a rate-cutting cycle as soon as possible. The CME FedWatch tool shows that there is about a 70% chance of a rate cut in September.

Nvidia's stock price soared over 5%, once again hitting a new historical high, with a market cap of $3.01 trillion, surpassing Apple and becoming the second largest company in the world by market capitalization, second only to Microsoft.

Popular stocks performance

Large tech stocks rallied, with Microsoft up 1.91%, Apple up 0.78%, Tesla up 0.13%, Google up 0.93%, Amazon up 1.08%, Meta up 3.79%, and Netflix up 2.95%.

Semiconductor stocks are up across the board, with the PHLX Semiconductor Index up 4.52%, Nvidia up 5.16%, ASML Holding up 9.52%, Taiwan Semiconductor up 6.85% reaching historic highs, AMD up 3.86%, Intel up 2.50%, Qualcomm up 3.68%, and Micron Technology up 5.58%.

Most popular China concept stocks rose, with the NASDAQ Golden Dragon China Index up 1.60%, Alibaba up 1.76%, JD.com up 1.73%, Pinduoduo down 2.11%, NIO up 1.15%, Xpeng up 3.09%, Li Auto Inc. up 0.35%, Bilibili up 2.55%, Baidu up 2.69%, NetEase up 6.17%, Tencent Music up 4.50%, and iQiyi down 1.36%.

Stocks in the WSB concept are soaring, with GameStop up over 19% and AMC Entertainment up over 7%.

Company news

[Guo Mingji: Apple's mixed reality headset Vision Pro will be shipped to non-US markets later than previously expected]

According to the latest Apple mixed reality headset Vision Pro shipping survey by well-known analyst Guo Mingji, shipments have begun to non-US markets (later than previously predicted before WWDC 2024) and mainly include UK, France, Germany, China, Japan, and Singapore. Estimated global shipments for 2024 remain unchanged at 400,000 to 450,000 units.

[Boeing's 'Starliner' spacecraft launches into space for the first time on manned test flight]

Boeing's 'Starliner' spacecraft launched into space from Cape Canaveral Air Force Station in Florida on the 5th, on its first manned test flight carrying two US astronauts to the International Space Station.

[ASML's US stock price soars more than 9%, becoming the second largest listed company in Europe]

On Wednesday, ASML's US stock surged 9.52%, with a market capitalization of over $410 billion, surpassing LVMH of France to become the second largest listed company in Europe, second only to Denmark's Novo-Nordisk.

On the news side, an ASML spokesperson confirmed that its largest customer, Taiwan Semiconductor, will receive its most advanced High-NA EUV lithography machine at the end of this year. It is understood that the price of this lithography machine is as high as 350 million euros. The company delivered the first machine to Intel's Oregon plant in December last year.

[NBA reportedly nears $76 billion TV deal with NBC, ESPN, and Amazon]

According to media reports, the NBA is expected to achieve significant success in its television broadcasting negotiations.

Insiders revealed that the NBA is close to reaching agreements with NBC, ESPN, and Amazon, and these trades will bring in approximately $76 billion in media revenue over 11 years.

Editor/Lambor