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美股收盘 | 三大指数齐涨,纳指涨2%;芯片、中概股表现亮眼,英伟达反弹涨近9%,阿里巴巴涨超6%

U.S. stocks closed higher | All three major Indexes rose, with the Nasdaq up 2%; chip stocks and Chinese concept stocks performed well, NVIDIA rebounded nearly 9%, and Alibaba rose over 6%.

wallstreetcn ·  Jan 28 23:30

The S&P 500 Index and Chip Index rose by 1%, while the Dow Jones and Small Cap Index showed the smallest gains. Apple surged nearly 4% to maintain its position as the largest in Global Market Cap, Microsoft and Broadcom rose nearly 3%, and stocks in AI, Quantum Computing, and Nuclear Power collectively rebounded. Altman's investment in Oklo rose by over 9%, and the China Concept Stocks Index closed up 1.7%, with Alibaba rising nearly 7%. Euro-American government bond yields rose, Trump’s tariffs threatened to elevate the USD and Gold, the Japanese Yen fell towards 156, and the offshore Renminbi briefly broke past 7.28 yuan. Bitcoin turned down, nearing 0.1 million USD, and oil prices moved away from a three-week low.

In December, US durable goods orders unexpectedly dropped by 2.2% month-on-month, but core durable goods orders exceeded expectations. The decline in durable goods was mainly due to a sharp drop of 46% in orders for non-defense aircraft and parts. Last November, US housing prices accelerated in increase, as buyers still planned to purchase homes despite high interest rates.

On Monday, Trump announced plans to impose tariffs on computer chips, pharmaceuticals, and steel imported to the USA, in order to force manufacturers to produce in the USA. Reports stated that the new US Treasury Secretary would promote "gradual universal tariffs," starting at 2.5%, increasing by the same amount each month, with maximum tariffs reaching 20%.

The market is waiting for the Federal Reserve's interest rate meeting decision on Wednesday, expected to maintain the current rate, and the next rate cut may not occur until June, with a total cut of about 48 basis points this year. The European Central Bank is expected to announce a rate cut in its decision on Thursday.

"The New Federal Reserve News Agency" stated that tariffs are key uncertainties for future Federal Reserve actions. Additionally, the United Nations announced that the USA will officially withdraw from the Paris Agreement on January 27, 2026. In less than 8 years, the USA has "entered and exited" this agreement three times.

Regarding the global computing power and AI stock valuation panic triggered by DeepSeek, there is optimism in DeepSeek stimulating AI demand. SAP, Europe’s largest software giant, expects cloud revenue to accelerate this year and may adopt a Chinese model if requirements are met. Sam Altman, CEO of OpenAI, stated that a better model will be launched, emphasizing that more computing power is more important than ever. Furthermore, according to Sina Technology, there are rumors about Jensen Huang's open letter commenting on DeepSeek, to which NVIDIA responded that it is fake news. "The Queen of Bull Markets," Cathie Wood, welcomed competition in the AI field, stating that DeepSeek helps reduce costs, and she believes now is not the time to impose stricter regulations on technology. However, the author of "Black Swan" warned that for investors blindly betting on AI stocks, NVIDIA's major drop on Monday is just the beginning.

On Tuesday, January 28, US stocks opened high but fell low, with the Nasdaq turning to rise within the first hour of trading, subsequently expanding its gains to 2% and leading the day. NVIDIA, which fell 17% the previous day, rose nearly 9%, leading the chip stocks, while AI and Nuclear Power stocks also rebounded collectively. Apple increased nearly 4% to maintain its global Market Cap status, and the China Concept Stocks Index fell over 1% before making a significant rebound to close up 1.7%, with Alibaba rising nearly 7%.

  • All three major US indices rose. The S&P 500 Index closed up 55.42 points, an increase of 0.92%, at 6067.70 points. The Dow, closely related to the economic cycle, closed up 136.77 points, an increase of 0.31%, at 44850.35 points. The tech-heavy Nasdaq rose 391.75 points, an increase of 2.03%, at 19733.59 points. The Nasdaq 100 rose by 1.6%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of Nasdaq 100 tech stocks, closed up 2.8%. The Russell 2000 Small Cap Index, more sensitive to economic cycles, rose by 0.2%. The volatility index VIX fell over 8%, closing at 16.41.

  • The US industry ETFs had mixed performance, with the Global Technology Stocks Index ETF rising by about 3%: the Global Aviation Industry ETF fell by 1.74%, the Energy Industry ETF declined by 0.95%, the Medical ETF decreased by 0.7%, the Regional Bank ETF dropped by 0.5%, the Banks ETF fell by 0.26%, while the Consumer Discretionary ETF increased by 0.12%. The Semiconductor ETF rose by 1.97%, and the Internet Stocks Index ETF, Technology Sector ETF, and Global Technology Stocks Index ETF surged between 2.18% and 2.97%. Among the 11 sectors of the S&P 500 Index, only the Information Technology/Technology sector increased by 3.6%, the Telecommunications sector rose by 1.26%, and the Consumer Discretionary sector gained 0.34%, while the Energy, Real Estate, Public Utilities, and Consumer Staples sectors declined between 1.04% and 1.5%.

  • "The Seven Sisters of Technology" rebounded. After a sharp decline of 17% yesterday, NVIDIA rose over 8.9%, Apple increased by 3.65%, marking a second consecutive day of rebound; Microsoft rose by 2.91%, Meta Platforms increased by 2.19%, Google A announced the open-sourcing of the Pebble smartwatch operating system, rising 1.82%, Amazon rose 1.16%, and Tesla increased 0.24%.

  • Chip stocks generally rose. The PHLX Semiconductor Index increased by 1.1%. The double-leveraged ETF for NVIDIA rose over 17%. Broadcom gained 2.6%, TSMC ADR increased by over 5%, Marvell Technology rose 3.5%, Arm was up 2.4%, NVIDIA supplier Amphenol rose 1.6%, but AMD and NXP Semiconductors fell 0.7%, ASML Holding's drop narrowed to nearly 1%, Texas Instruments fell over 3%, and Micron Technology dropped 1.7%.

  • After the sharp decline, Morgan Stanley lowered the target prices for NVIDIA and other large chip stocks, reducing NVIDIA's target price from $166 to $152, indicating a potential upside of 28.3%, lowering Marvell Technology's target price by $7 to $113, with a potential upside of 12.6%, lowering Broadcom's price from $265 to $246, indicating a potential upside of nearly 22%, and lowering Micron Technology's target to $91.

  • AI concept stocks rose broadly. SoundHound AI, owned by NVIDIA, rose over 1%, Serve Robotics and C3.ai jumped nearly 6%, BigBear.ai rose 0.5%, Palantir increased over 6%, Applovin rose over 5%, CrowdStrike surged over 9%, Oracle gained over 3%, and Salesforce gained nearly 4%, but Super Micro Computer dropped over 3%, Dell Technologies fell over 2%, and BullFrog AI declined by over 9%.

  • Most quantum computing concept stocks closed higher. Quantum Computing (QUBT) rose by 2.6%, Quantum Corporation (QMCO) fell 16%, D-Wave Quantum (QBTS) rose nearly 3%, Rigetti Computing (RGTI) increased 5%, Honeywell dropped over 2%. Kingsoft Cloud rose nearly 9%.

  • Nuclear power concept stocks rebounded across the board, with Oklo, invested by Altman, rising 9.7%, NuScale increasing over 3%, Vistra rising over 9%, and Constellation Energy increasing over 1%. Among other electrical utilities, Ge Vernova rose nearly 8%, and NRG Energy rose over 3%.

  • China concept stocks outperformed the overall U.S. market. After falling over 1%, the Nasdaq Golden Dragon China Index closed up 1.7%, marking its first close above the psychological level of 7000 points since December 12. Among ETFs, the FTSE China 3x Long ETF (YINN) closed up 3.3%, the China Technology Index ETF (CQQQ) rose over 1%, and the China Internet Index ETF (KWEB) closed up 2.5%. The FTSE A50 Index futures closed up 0.31% in the overnight session, reporting 13022.000 points.

  • Among the popular China Concept Stocks, Alibaba rose by 6.7%, Tencent ADR increased nearly 3%, Fangdd Network fell by 4.6%, Li Auto's decline significantly narrowed to 1.4%, NIO and PDD Holdings rose over 1%, while JD.com and Bilibili rose about 2%.

  • Among other key stocks: 1) LVMH, the parent company of Louis Vuitton, reported that sales for the entire year of 2024 are not as concerning as market fears, with unexpected organic growth. After dropping over 8% during Regular Trading Hours, the decline was halved. 2) Starbucks' fourth-quarter sales drop was not as pronounced as the market feared, with stock prices rising about 4% in after-hours trading. 3) Boeing rose by 7.6% before closing up 1.5%. The fourth-quarter earnings per share loss was worse than expected, as was revenue. However, the CEO stated that Boeing 737 production efficiency has made "significant" progress, with over 30 737 aircraft to be delivered in January. 4) General Motors fell nearly 9%, with both fourth-quarter reports and earnings guidance exceeding expectations, but investors are concerned about tariff threats from the Trump administration. 5) Defense stocks, specifically Lockheed Martin, fell over 9%, with fourth-quarter net sales falling short of expectations. 6) US low-cost airline JetBlue fell nearly 26% as fourth-quarter earnings per share losses were better than expected, but guidance disappointed. 7) Qorvo, a global supplier of power amplifiers and filters, exceeded expectations for its third-quarter performance and revenue outlook, rising 13% in after-hours trading.

Optimistic corporate earnings reports boosted investor sentiment, leading the Pan-European Index to reach a historic high, with defensive sectors like Real Estate, Utilities, and Consumer Staples outperforming. However, French and Italian stock indices declined, and European chip concept stocks generally fell, with most Luxury Goods stocks also closing lower.

  • The European STOXX 600 Index closed up 0.36% at 531.60 points, surpassing the previous closing historical high of 530.34 points set on January 23. The Eurozone STOXX 50 Index closed up 0.14%, while the FTSE Europe 300 Index closed up 0.30%.

  • The German DAX 30 Index closed up 0.70%, the French CAC 40 Index fell 0.12%, the Italian FTSE MIB Index fell 0.12%, and the UK FTSE100 Index closed up 0.35%.

  • Among key stocks, Europe's largest software manufacturer SAP exceeded profit expectations last year and raised guidance, reversing its downward trend to upward during trading. Among chip stocks, BE Semiconductor Industries fell 3.93%, ASM International fell 3.74%, and STMicroelectronics fell 3.24%. In the luxury goods sector, Burberry fell 1.72%, Swatch Group fell 1.68%, Hugo Boss fell 1.43%, while L'Oreal rose 1.23% and Pernod Ricard rose 2.13%.

As investors wait for the Federal Reserve's decision on Wednesday, risk-averse sentiment is retreating, leading to a rebound in US and European bond yields, with long-term bond yields rising more significantly. The US Treasury yield moved away from a one-month low, although the gains significantly narrowed by the end of trading.

  • US Treasury: The 10-year Treasury yield rose by a maximum of 5 basis points to test 4.58%, and the 2-year Treasury yield rose by over 3 basis points to test 4.23%, both slightly rising and nearing flat by the end of trading.

  • Strategy: As of the week of January 27, the net long position of JPMorgan clients in US Treasury bonds reached the highest level since October 2010. JPMorgan believes that the evaporation of a trillion-dollar market cap in the stock market triggered by DeepSeek on Monday has little impact on the bond market. However, concerns about generally rising volatility may negatively affect credit spreads. With inflation cooling, Morgan Stanley recommends going long on US Treasury bonds, betting that they will outperform inflation-protected bonds.

  • European Bonds: The benchmark 10-year German bond yield in the Eurozone rose more than 3 basis points at the close to 2.565%, maintaining an upward trend throughout the day, with the 2-year German bond yield up more than 2 basis points. The yields of French and Italian government bonds increased by about 2 basis points, while the yield spread between French and German government bonds narrowed to 73 basis points, the lowest since last October. The 10-year UK bond yield increased by nearly 3 basis points, and the 2-year yield rose by more than 2 basis points.

The threat of Trump's tariffs has reignited and elevated the dollar's performance, causing the dollar index to briefly surpass 108. Non-US currencies generally fell, with the yen approaching 156 and the offshore yuan briefly dipping below 7.28 yuan. Bitcoin tracked a rebound in risk assets, climbing above 0.103 million USD but turned to a decline at the close.

  • Dollar: The ICE Dollar Index DXY, which measures the dollar against a basket of six currencies, briefly surpassed 108 before the US stock market opened, rising by 0.7% intraday, pulling away from its lowest level since mid-December last year. The Bloomberg Dollar Index rose by 0.29% at the close to 1300.66 points, also showing "high opening" followed by high-level fluctuations.

  • Non-US currencies: The euro approached 1.04 against the dollar, the British Pound neared 1.24 against the dollar, the Canadian dollar continued to decline slightly, while the Mexican Peso rebounded by about 0.8%. The South Korean won ultimately fell by 0.89% to 1446.74 won against the dollar, the Swiss Franc dropped by 0.3%, and the Australian dollar decreased by 0.6%.

  • Yen: The yen turned to decline against the dollar, dipping to 156 or dropping more than 0.9%, moving away from its highest level since mid-December last year. At the close, it fell by 0.67% to 155.55 yen, with an intraday trading range of 154.49-155.98 yen.

  • Offshore Yuan: The offshore yuan against the dollar fell more than 300 points, but did not breach the 7.28 yuan level.

  • Cryptos: Bitcoin, the largest by market cap, rose over 3%, briefly surpassing the 0.103 million USD level, but turned to decline at the close, losing the 0.101 million USD mark. CME Ether futures DCR main contract reported 3054.00 USD, down 3.54% compared to Monday.

The supply disruptions caused by Libyan oil loading have eased, combined with weak oil demand prospects, leading to an initial rise and then fall in oil prices. During Regular Trading Hours, US stocks turned bearish, while oil prices rose again before the close, recovering from a three-week low. US oil at one point increased by 1.6% and crossed $74, while Brent oil rose by 1.4% to above $78. Weather forecasts predict higher temperatures, resulting in a more than 6% decline in New York natural gas futures.

  • US Oil: WTI March crude oil futures closed up $0.60, an increase of 0.82%, at $73.77 per barrel.

  • Brent Oil: Brent March crude oil futures closed up $0.41, an increase of 0.53%, at $77.49 per barrel.

  • Natural Gas: The US weather forecast indicates that temperatures will be above normal this week, putting pressure on heating fuel demand. US NYMEX February natural gas futures fell by over 6.11%, closing at $3.4710 per million British thermal units. In European markets at the end of trading, ICE UK natural gas futures rose by 0.92%, while the European benchmark TTF Dutch natural gas futures increased by 0.76%, closing at €48.325 per megawatt hour, close to the daily high.

The uncertainty surrounding Trump's tariff policy has reignited safe-haven demand for Gold. Yesterday, Gold fell over 1%, marking its worst performance since December 18 of last year. On Tuesday, despite the US dollar and Treasury yields both rising, spot gold gains continued to expand and reached above $2760.

  • Gold: COMEX gold futures rose by 1.21%, closing at $2771.40 per ounce. Spot gold rose by 0.83%, closing at $2763.47 per ounce, having reached a daily high of $2765.05 before the close of US markets.

  • Silver: COMEX silver futures increased by 1.23%, closing at $30.945 per ounce. At the end of trading, spot silver rose by 0.54%, closing at $30.4168 per ounce, after briefly dropping 1% below $30.

  • London Metals fell across the board: LME copper futures closed down $108, a nearly 1.19% decrease, at $8987 per ton. LME aluminum futures fell by $30, down over 1.15%, at $2572 per ton. LME zinc futures closed down $64, dropping over 2.25%, at $2775 per ton. LME lead futures fell by $13, at $1936 per ton. LME nickel futures closed down $125, at $15435 per ton. LME tin futures rose by $20, at $29663 per ton. LME cobalt futures fell by $2200, down over 9.26%, at $21550 per ton.

  • Arabica coffee beans rose more than 2.4%, with traders paying attention to the low inventory levels and the risks of a trade war between the USA and South America initiated by Trump, with Colombia being one of the main suppliers of coffee beans to the USA.

Editor/danial

The translation is provided by third-party software.


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