On May 16, local time, the three major U.S. stock indexes hit record highs intraday, of which the Dow stood above 40,000 points for the first time in history, but collectively dived and fell intraday. Retail stocks continued to cool down, and Game Station fell by more than 30%.
Chinese concept stocks broke out en masse, and the Nasdaq China Golden Dragon Index closed up 2.49%, hitting a new high since September 2023. The new stock standard technology rose more than 180% intraday and closed up 104.42%; Alibaba closed up more than 7%, and was sung by the former "Air Force Pioneer" citron.
The U.S. Bureau of Labor Statistics has an oolong incident: the closely watched U.S. CPI data was inadvertently loaded onto the website about half an hour earlier. However, the data leaked ahead of time went unnoticed.
U.S. stocks rose and fell, and the Dow Jones broke 40,000 points for the first time in intraday trading
On May 16, local time, the three major U.S. stock indexes collectively rose after the opening and hit a record high, and the Dow Jones Industrial Average stood above the 40,000-point mark for the first time in history; Intraday collective diving turned down.
At the close, the Dow Jones Industrial Index, Nasdaq Index, and S&P 500 Index fell 0.10%, 0.26%, and 0.21%, respectively.
Among the Dow constituents, Walmart rose 7.66% intraday and closed up 6.97%, leading the Dow constituents throughout the day. On the news side, Walmart's latest financial report shows that high-income customer consumption and U.S. e-commerce business boosted revenue in the first quarter more than expected to increase by 6% year-on-year.
Retail stocks continue to cool down. As of the close of the day, Game Station fell by more than 30%, AMC Entertainment Holdings fell by more than 15%, and BlackBerry fell by more than 6%. Matthew Tuttle, chief executive of Tuttle Capital Management, said: "It's hard to stay high without a fundamental backing stock without a constant influx of investment. ”
Chinese concept stocks performed strongly
On May 16, local time, Chinese concept stocks broke out again in the U.S. stock market. According to Wind data, as of the close, the Nasdaq China Golden Dragon Index rose 2.49%. Among the Chinese concept stocks, 17 stocks rose by more than 10%.
Among them, the new stock standard technology rose by more than 180% intraday and closed with an increase of 104.42%. According to the data, Curriculum Standard Technology is a company that specializes in providing one-stop comprehensive education support services for adult education institutions, and landed on Nasdaq on May 15, local time.
E-commerce giant Alibaba rose more than 8% intraday and closed up more than 7%.
It is worth noting that Citron Research, the "pioneer of the Air Force" in the past, who was famous for being an air concept stock, openly sang long Alibaba on social media. Citron said that Alibaba is gaining momentum and investors will recognize its artificial intelligence (AI) cloud prospects and strategic investments, and Citron believes that Alibaba's stock price is on track to rise above $100. Citron also said that in the field of large language models (LLMs) in China, Alibaba's models are the leader.
Fed officials "hawkish"
On May 16, local time, Cleveland Fed President Mester, a member of the 2024 Federal Open Market Committee (FOMC), said at an event that policymakers need more data to be confident that inflation is moving towards the 2% target, and recommended that officials keep interest rates high for longer to achieve this goal.
Mester reiterated that monetary policy is in a good position at the moment, adding that she expects prices to slow less than last year as the supply side is unlikely to help inflation much this year.
It's worth noting that while Mester has the right to vote on policy decisions this year, she will be stepping down at the end of June, and the Fed's next interest rate decision is scheduled for June 11 and 12, so this will also be the last one she attends.
Oolong! The US April CPI data was leaked half an hour earlier
The Bureau of Labor Statistics said in a brief statement on May 15 local time: "About 30 minutes before the release of the CPI data on Wednesday, the Bureau of Labor Statistics inadvertently loaded a portion of the document onto the website. ”
The statement did not provide other details, but noted that the Labor Department had notified the Office of Management and Budget and the Office of The Inspector General. "The Bureau of Labor Statistics takes data security very seriously and is conducting a comprehensive investigation of its procedures and controls to ensure that such incidents do not recur," the Bureau of Labor Statistics said. ”
It is worth mentioning that although the US CPI data for April has attracted much attention, the data released in advance has not been widely concerned, and financial market volatility is still emerging from the official disclosure of the data.
Peter Boockvar, chief investment officer at Bleakley Advisory Group, said: "It's weird because usually you look at all the volatility beforehand and I don't notice anything out of the ordinary, so I wonder to what extent that has an impact." ”
(The picture in the article is from Wind)
Reviewer: Xu Zhao
Editor: Li Ruoyu and Wang Yin
Proofreading: Zhang Diange
Issued by: Sun Hong