Market Highlights π‘ - 1 July 2024
*The theme of artificial intelligence drives market concentration, and the first half of 2024 ends in the green
πΊπΈ S&P 500: -0.40% π
πΊπΈ Nasdaq: -0.70% π
πͺπΊ Stoxx 600 Index: -0.23% π
π―π΅ Nikkei 225 Index: 0.61% π
ππ° Hang Seng Index: 0.01% π
π¨π³ CSI 300 Index: 0.30% π
* U.S. stocks edged lower on Friday, with the S&P 500 down -0.4% and the Nasdaq down -0.7%, as traders digested new economic data showing slowing inflation and better-than-expected consumer confidence data .
* Hong Kong's Hang Seng Index inched up 0.01% as gains were fueled by expected progress on the European Union's plan to end tariffs on electric vehicle imports from China.
π‘ Future events: π‘
* On Monday, we will see the release of the U.S. ISM Manufacturing PMI.
* U.S. JOLTS job openings will be posted on Tuesday.
* On Wednesday, U.S. ADP non-farm payrolls changes, jobless claims and ISM Services PMI will be released.
* On Thursday, investors will focus on the minutes of the U.S. FOMC meeting.
π‘Things you need to know today:π‘
1. President Joe Biden performed poorly in the presidential debate with former President Donald Trump $TRUMP MEDIA & TECHNOLOGY GROUP CORP(DJT)$ , failing a key test to prove to voters that he can be re-elected.
2. China's official PMI came in at 49.5 in June, shrinking for the second straight month, pointing to weakness in the economy at a time when Beijing is betting on a boost.
3. China's residential real estate sector's downward trend slowed further in June, with new home sales falling 17% year-on-year, another decline following the government's efforts to create a floor for the housing market in some major cities.
4. SK Hynix Inc. $SK Hynix, Inc.(HXSCL)$ $SK Hynix, Inc.(HXSCF)$ , the semiconductor arm of SK Group, plans to invest 103 trillion won ($74.8 billion) by 2028, signaling the group's bet on industries it sees as critical to future growth. We should see the similar movement from its competitors like $SAMSUNG EL.GDS(SMSD.UK)$ $Micron Technology(MU)$ .
5. The Bank for International Settlements warns that highly indebted countries are vulnerable to a significant loss of confidence, although bond markets barely acknowledge the risk.
β KEY TAKEAWAYS:
Stocks were weak in the final stages of the quarter, with traders keeping a close eye on any news about the U.S. presidential race and remaining cautious about the future.
@Daily_Discussion @MillionaireTiger @TigerGPT @Tiger_comments @CaptainTiger @TigerStars
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Based on the market highlights for July 1, 2024:
Market Performance:
S&P 500: -0.40% π
Nasdaq: -0.70% π
Stoxx 600 Index: -0.23% π
Nikkei 225 Index: 0.61% π
Hang Seng Index: 0.01% π
CSI 300 Index: 0.30% π
U.S. Stocks:
U.S. stocks, including the S&P 500 and Nasdaq, experienced a slight decline on Friday.
Traders were analyzing new economic data that showed slowing inflation and better-than-expected consumer confidence.
Hang Seng Index:
Hong Kong's Hang Seng Index inched up 0.01%.
Gains were driven by expected progress on the European Union's plan to end tariffs on electric vehicle imports from China.
Future Events:
Monday: Release of the U.S. ISM Manufacturing PMI.
Tuesday: U.S. JOLTS job openings will be posted.
Wednesday: U.S. ADP non-farm payrolls changes, jobless claims, and ISM Services PMI will be released.
Thursday: Investors will focus on the minutes of the U.S. FOMC meeting.
Key Points:
Presidential Debate: President Joe Biden performed poorly in the presidential debate with former President Donald Trump for the second straight month, indicating weakness in the economy.
China's Real Estate Sector: The downward trend in China's residential real estate sector slowed in June, with new home sales falling 17% year-on-year.
SK Hynix Investment: SK Hynix Inc., the semiconductor arm of SK Group, plans to invest 103 trillion won ($74.8 billion) by 2028, signaling the group's focus on critical industries for future growth.
Bank for International Settlements Warning: The Bank for International Settlements warns that highly indebted countries are vulnerable to a significant loss of confidence, although bond markets have not yet acknowledged the risk.
Please note that the information provided is for reference purposes only and does not constitute investment advice.