On April 22, Eastern time, U.S. stocks ushered in an important earnings week, and the three major U.S. stock indexes, which fell sharply last week, rebounded collectively.
Nvidia rebounded by more than 4%, leading the rise of large technology stocks, with its market value soaring by more than about 83 billion US dollars (about 601.7 billion yuan) overnight, while Tesla fell by more than 3% at the end of the "seven consecutive declines", tying the record of consecutive declines since its IPO and hitting a new low since January 2023.
Precious metals plummeted. Gold plunged more than 3%, its biggest one-day drop since June 2022. The three major U.S. stock indexes rebounded during the important earnings week
On April 22, Eastern time, U.S. stocks, which fell sharply last week, rebounded at the beginning of an important earnings week and finally closed up collectively. At the close, the Dow rose 0.67% to 38,239.98, the S&P 500 rose 0.87% to 5,010.6 and the Nasdaq rose 1.11% to 15,451.31.
The "Big Seven" of technology stocks will report earnings this week.
According to Sina, JPMorgan Chase & Co.'s chief market strategist Marko Kolanovic wrote in a note to clients that about 40% of U.S. companies in terms of market capitalization reported earnings this week, and price movements may depend on earnings earnings, which may stabilize in the short term, "however, we think the sell-off will continue."
A stronger dollar, rising yields and equity concentration all point to high risks. Kolanovic said the inability of traders to identify potential negatives in the stock market earlier this year is starting to shift.
On the macro front, according to the Wind Hong Kong News Agency, in the first quarter earnings call, the CEOs of Wall Street's largest investment banks and financial institutions were cautious about the U.S. economy. In their view, inflation and interest rates are likely to fall and the economy is likely to continue to grow, but they warn that stubborn price increases, persistently high borrowing costs, a painful recession and overseas geopolitical conflicts are threats that cannot be ignored.
Nvidia rebounded by more than 600 billion yuan, Tesla fell by more than 3%
On April 22, Eastern time, most of the large technology stocks and chip stocks closed higher.
As of the close, Amazon and Google rose more than 1%, Apple, Microsoft, and Meta rose slightly, and Netflix fell slightly. Chip stocks rose, ARM rose more than 6%, Nvidia rose more than 4%, and its market value rose by about 83 billion US dollars (about 601.7 billion yuan) overnight, and Micron Technology rose more than 2%.
Tesla fell more than 3%, falling for 7 consecutive trading days, tying the record of consecutive declines since its IPO and hitting a new low since January 2023.
On the news side, Tesla's U.S. marketing team announced layoffs with a scale of about 40 people.
In addition, Tesla has cut prices again. According to Tesla's official website in the United States, the price of Tesla Model Y has been reduced to $42,990, the price of Model Y long-range version has been reduced to $47,990, and the price of Model Y high-performance version has been reduced to $51,490, which is $2,000 lower than the previous price. Tesla's Model S price was lowered to $72,990, and the Model S Plaid price was lowered to $87,990, both of which were $2,000 lower than the previous price. The price of Tesla's Model X was lowered to $77,990, and the price of the Model X Plaid was lowered to $92,990, both of which were $2,000 lower than the previous price.
According to Tesla's website, Tesla has reduced the price of the Full Self-Driving (FSD) package from $12,000 to $8,000 in the United States, and the price of the Full Self-Driving (FSD) package in Canada from $16,000 to $11,000.
According to Tesla's official website in China, the price of the Model Y has dropped to 249,900 yuan, the price of the Model Y long-range version has been reduced to 290,900 yuan, and the price of the Model Y high-performance version has been reduced to 354,900 yuan. The price of the Model S has been reduced to 684,900 yuan, and the price of the Model S PLAID version has been reduced to 814,900 yuan. The price of the Model X was reduced to 724,900 yuan, and the price of the Model X PLAID version was reduced to 824,900 yuan.
Precious metals plummeted, gold fell more than 3%
On April 22, Eastern time, with the easing of the situation in the Middle East, the recent "soaring" gold price fell.
COMEX gold futures for June delivery fell 3.01% to $2,341.1 an ounce, the biggest one-day drop since June 2022. As of press time, the latest price is around $2347.4 per ounce.
COMEX silver futures fell 5.58% to settle at $27.235. As of press time, the quote is sitting near $27.32.
(Ivan finishing)
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