On Tuesday, April 23, Eastern time, the manufacturing PMI index was weak, and the market believed that this could accelerate the Fed's interest rate cut, and the three major U.S. stock indexes closed up across the board, with the Nasdaq rising nearly 1.6%.
Although revenue and operating profit in the first fiscal quarter fell short of expectations, Tesla said it would launch cheaper models, up more than 13% after hours.
The Big Seven tech stocks will report earnings this week, and UBS U.S. equity strategists believe that the upward momentum of the tech giants is disappearing, and downgraded many stocks from "overweight" to "neutral".
Affected by the PMI data, the demand for crude oil was stimulated, with WTI crude oil futures breaking through $83 per barrel and Brent crude oil breaking through $88 per barrel.
The "fear index" VIX has risen sharply since April
At the close, the Dow rose 0.69% to 38,503.69, the S&P 500 rose 1.2% to 5,070.55 and the Nasdaq rose 1.59% to 15,696.64.
According to Hong Kong's Wind News Agency, the CME Group (Cboe) Volatility Index VIX has risen nearly 30% since April and is approaching the 20 mark. The last time this happened was in October last year, when the Fed's policy concerns and earnings season resonance triggered a correction in U.S. stocks, with the S&P 500 and Nasdaq plummeting nearly 7% in two weeks.
According to Sina, Goldman Sachs strategist Scott Rubner warned that the US stock market could fall further. In response to the question of whether the recent pullback in US stocks meant that last week's deleveraging was sufficient, Rubner said "my answer is no". He noted that Goldman Sachs clients have been trimming their exposure when the stock market is rising.
Tesla will accelerate the launch of cheap models, up more than 13% after hours
Tesla's first-quarter revenue and operating profit fell short of expectations, with first-quarter adjusted earnings per share of $0.45 versus $0.52 expected, revenue of $21.3 billion versus $22.3 billion expected, and net income of $1.129 billion versus $1.53 billion expected.
Tesla maintains its guidance for "significantly lower" production/delivery growth in 2024, but to update its future vehicle lineup, new models will include more affordable models.
Affected by the above news, Tesla rose more than 13% after hours.
"Sister Wood" continued to increase its holdings in Tesla, and Ark Investment Management bought about $17.44 million worth of Tesla shares again on Monday.
Technology stocks rose across the board on Tuesday, with the Wind U.S. TAMAMA Technology Index up 1.73%, Apple up 0.59%, Amazon up 1.29%, Netflix up 4.13%, Google up 1.27%, Facebook up 2.92%, Microsoft up 1.52%, Nvidia up 3.65%, and Tesla up 1.8%.
This week, the U.S. technology giants will report their first-quarter earnings reports one after another, and UBS Group's chief U.S. equity strategist believes that the upward momentum of U.S. technology giants is disappearing, and UBS downgraded the industry ratings of the six major U.S. technology giants, Alphabet Inc., Apple, Amazon, Meta Platforms Inc., Microsoft and Nvidia, from "overweight" to "neutral".
Crude oil demand was stimulated by WTI and cloth oil rose
Oil prices moved higher after the release of the manufacturing PMI data. WTI futures for June delivery rose $1.46, or 1.78%, to settle at $83.36 a barrel. U.S. WTI crude oil has risen more than 16% so far this year.
Brent crude futures for June delivery rose $1.42, or 1.63%, to settle at $88.42 a barrel. Brent crude oil has risen nearly 15% so far this year.
Energy stocks rose collectively, with Exxon Mobil up 0.37%, Chevron up 0.57%, ConocoPhillips up 0.37%, Schlumberger up 0.08%, and Occidental Petroleum up 0.58%.
According to sources, Shell and TotalEnergies are in talks to acquire a stake in Abu Dhabi National Oil's new LNG plant.
Popular Chinese concept stocks generally rose, with the Nasdaq China Golden Dragon Index up 1.96%, Oceanpower Securities up more than 42%, Futu Holdings up 11.49%, Gaotu Group up 7.7%, Shengmei Semiconductor up 6.37%, iQiyi up 6.26%, BeiGene up 6.25%, and Tiger Brokers up 5.3%.
In terms of declines, Dada Group fell 2.11%, Bilibili fell 2.04%, and NetEase fell 1.91%.
China's new energy vehicle stocks were mixed, with NIO up 0.63%, Xpeng up 2.87%, and Li Auto down 0.44%.
(Compiled by Zhao Xinyi)
Editor: Xiao Mo
Review: Xu Wen