U.S. Stocks Show Mixed Performance: Nasdaq Hits New Record High as Chip Sector Gains Momentum

Market Watcher
16 Jul

U.S. equity markets displayed divergent trends during Tuesday's trading session, with the Nasdaq Composite extending its record-setting trajectory. At market close, the Dow Jones Industrial Average retreated 0.98% to settle at 44,023.29, while the tech-heavy Nasdaq edged upward by 0.18% to reach 20,677.80. The S&P 500 experienced a moderate decline of 0.40%, closing at 6,243.76.

Technology behemoths largely advanced, with Nvidia spearheading gains through a robust 4.04% climb. Microsoft ascended 0.53%, Amazon increased 0.29%, Google-parent Alphabet rose 0.24%, and Apple registered a modest 0.23% uptick. Conversely, Facebook (Meta Platforms) retreated 1.46% and Tesla declined 1.93%. Semiconductor equities predominantly strengthened while financial institutions faced widespread pressure. Energy stocks endured uniform declines, and airline shares collectively descended.

Chinese ADRs exhibited substantial momentum, propelling the Nasdaq Golden Dragon China Index to a 2.76% surge. Baidu and Alibaba both soared beyond 8%, while Bilibili leapt over 7%. JD.com ascended more than 4%, with Pinduoduo, NetEase, and Nio each registering gains exceeding 2%.

Economic indicators revealed the U.S. Consumer Price Index rose 2.7% year-over-year in June, surpassing market forecasts and marking the steepest annual increase since February. Excluding volatile food and energy components, core inflation advanced 2.9% annually.

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10