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.
Trumph VS Biden
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 $SAMSUNG EL.GDS(SMSD.UK)$ $Micron Technology(MU)$ .
SK Hynix
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.
Bank for International Settlements
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
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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.