Tech Stocks Tumble As Small Caps, REITs, Gold Miners Rally; Soft June Inflation Ignites Rate Cut Expectations: What's Driving Markets Thursday?
Tech Stocks Tumble As Small Caps, REITs, Gold Miners Rally; Soft June Inflation Ignites Rate Cut Expectations: What's Driving Markets Thursday?
A lower-than-expected inflation report for June caused wild market reactions, leading to a surge in traders' expectations of Federal Reserve rate cuts and boosting assets that are particularly sensitive to high interest rates.
6月份低於預期的通脹報告引發了市場的波動，導致交易者預計聯儲局降息的預期上升，並推動那些對高利率特別敏感的資產上漲。
As the annual inflation rate slowed from 3.3% to 3%, below the predicted 3.1%, and the monthly reading indicated the first contraction (-0.1%) in four years, traders swiftly increased their odds of a September rate cut, now placing a 92% chance.
由於年通脹率從3.3%降至3%，低於預測的3.1%，月度數據顯示四年來首次收縮（-0.1%），交易者迅速提高了9月份降息的可能性，目前預測幾率爲92%。
Surprisingly, large-cap indices such as the S&P 500 and the tech-heavy Nasdaq 100 index fell, dropping 0.9% and 2.1% respectively, with the latter eyeing its worst daily performance of 2024, previously seen on April 30. These reactions suggest that market participants had likely already priced in rate cut expectations into tech stock valuations and are now rotating from top-performing sectors to laggards.
令人意外的是，大型指數，如標普500指數和科技重股納斯達克100指數，下跌了0.9%和2.1%，後者着眼於其2024年以來最糟糕的單日表現，此前出現在4月30日。這些反應表明，市場參與者可能已經將降息預期計入科技股的股票估值中，並正在從表現強勁的板塊轉向表現較弱的板塊。
The outperformance of the S&P 500 real estate sector over tech by more than 5 percentage points marked the largest one-day relative change in over four years, indicating a potential sectoral shift.
標普500房地產板塊對科技板塊的相對超額表現超過了5個百分點，這標誌着四年來最大的一天相對變化，表明可能進行板塊轉換。
Other assets making significant moves included small caps, with the iShares Russell 2000 ETF (NYSE:IWM) up 3.3%, its strongest one-day return since mid-December 2023; gold, up 1.7%; and long-dated Treasury bonds, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rallying 1.5%.
其他重要變動的資產包括小盤股，ishares羅素2000指數etf（紐交所：IWM）上漲了3.3%，創下了2023年中期以來最強的單日回報率；黃金上漲了1.7%；長期國債收益上漲，ishares 20+年期國債etf（納斯達克：TLT）漲了1.5%。
Equity industries showing notable growth were those positively impacted by the prospects of lower interest rates. Homebuilders, tracked by the SPDR Homebuilders ETF (NYSE:XHB), were up 6.7% for the day, their strongest one-day performance since mid-December 2023. Regional banks, represented by the SPDR S&P Regional Banking ETF (NYSE:KRE), rose 3.4%. Gold miners, tracked by the VanEck Gold Miners ETF (NYSE:GDX), climbed 2.4%, on track for their highest close since April 2022.
受利率下降前景的積極影響，股票行業表現出明顯的增長。房地產開發商，由SPDR房地產開發商ETF（紐交所：XHB）跟蹤，當天上漲6.7%，創下了2023年中期以來最強的單日表現。地區銀行，由SPDR標普地區銀行ETF（紐交所：KRE）代表，上漲了3.4%。黃金礦業公司，由VanEck黃金礦業ETF（紐交所：GDX）跟蹤，上漲了2.4%，接近自2022年4月以來的最高收盤價。
Bitcoin (CRYPTO: BTC) was flat at $57,800.
比特幣（加密貨幣：BTC）以57,800美元持平。
Thursday's Performance In Major US Indices, ETFs
美國主要指數、etf的表現
| Major Indices | Price | 1-day %chg |
| Russell 2000 | 2,120.27 | 3.4% |
| Dow Jones | 39,754.72 | 0.1 % |
| S&P 500 | 5,583.95 | -0.9% |
| Nasdaq 100 | 20,246.76 | -2.1% |
| 主要指數 | 價格 | 1天%漲幅 |
| Russell 2000 | 2,120.27 | 3.4% |
| 道瓊斯 | 39,754.72 | 0.1 % |
| S&P 500 | 5,583.95 | -0.9% |
| 納斯達克100 | 20,246.76 | -2.1% |
Updated at 1:05 PM ET
更新於下午1:05
According to Benzinga Pro data:
根據Benzinga Pro的數據：
- The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.9% lower to $556.201.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) inched 0.1% higher to $397.59.
- The tech-heavy Invesco QQQ Trust (ARCA: QQQ) tumbled 2.1% to $492.83.
- Sector-wise, the Real Estate Select Sector SPDR Fund (NYSE:XLRE) outperformed, up by 2.5%, while the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, falling 2.4%.
- SPDR標普500ETF信託基金（紐交所：SPY）下跌0.9%，至556.201美元。
- 標普道瓊斯工業平均指數ETF（紐交所：DIA）微漲0.1%，至397.59美元。
- 科技重股納指100etf-invesco qqq trust（ARCA: QQQ）下跌2.1%，至492.83美元。
- 按板塊劃分，房地產選擇行業精選指數etf-spdr（紐交所：XLRE）表現最佳，上漲了2.5％，而科技選擇行業精選指數etf-spdr（紐交所：XLK）表現較弱，下跌了2.4%。
Thursday's Stock Movers
週四股市熱門
- Tesla Inc. (TSLA) fell over 6%, after Bloomberg flagged delays in the Robitaxi project.
- Top-performers within real estate stocks were Communications Corporation (NYSE:SBA) Alexandria Real Estate Equities, Inc. (NYSE:ARE), both up 6.5%.
- PepsiCo Inc. (NYSE:PEP) was 0.4% higher, following quarterly earnings.
- Other stocks reacting to earnings were Delta Air Lines Inc. (NYSE:DAL), ConAgra Brands Inc. (NYSE:CAG), up 0.4% and down 2% respectively.
- Caesars Entertainment Inc. (NASDAQ:CZR) rose 6.7%.
- 特斯拉公司（TSLA）下跌超過6％，彭博社指出Robitaxi項目存在延遲。
- 房地產股票中表現最好的是通信公司（紐交所：SBA）和Alexandria Real Estate Equities, Inc.（紐交所：ARE），兩者都上漲了6.5%。
- 百事公司（PEP）上漲了0.4%，因季度收益報告。
- 其他因季度收益而有變動的股票包括達美航空公司（紐交所：DAL），上漲了0.4%，以及ConAgra Brands Inc.（紐交所：CAG），下跌了2%。
- 凱撒娛樂公司（納斯達克： CZR）上漲了6.7%。
- Inflation Data Sparks Rush For Gold, Real Estate, Treasuries, Yen: Traders See September Rate Cut As Done Deal
- 通貨膨脹數據激發了對黃金、房地產業、國債和日元的追逐：交易員們認爲9月降息是板上釘釘的事情。
Image created using artificial intelligence via Midjourney.
圖像由Midjourney通過人工智能創建。
譯文內容由第三人軟體翻譯。