On June 11, Eastern Time, on the eve of the release of the May CPI data and the Federal Reserve interest rate decision, the three major U.S. stock indexes had mixed gains and losses, with the Nasdaq and S&P 500 both hitting new closing highs.
Apple soared by more than 7%, setting another record high, the largest single-day increase since November 2022. The market value increased by more than 210 billion US dollars (approximately RMB 1.56 trillion) overnight, and the total market value was nearly 3.18 trillion US dollars.
The three major indexes had mixed gains and losses
The Nasdaq and the S&P hit new highs
On June 11, Eastern Time, the market focused on the upcoming U.S. CPI data for May and the latest interest rate decision of the Federal Reserve. The three major U.S. indexes opened lower and moved higher. Mixed.
As of the close, the S&P 500 Index rose 0.27% to 5375.32 points; the Nasdaq Composite Index rose 0.88% to 17343.55 points, both setting new highs recorded the day before; the Dow Jones Index fell 0.31% to 120.62 points, closing at 17343.55 points. 38747.42 points.
According to Zhitong Finance, Rick Rieder, Blackstone Group's global fixed income chief investment officer and head of the global asset allocation team, said that he believes the number of interest rate cuts may be reduced to two, but the decision is very close because Fed officials are on this issue. There are divergences that could point to forecasts of just one rate cut.
As for the recent record highs in the U.S. stock market, Liz Ann Sonders, chief investment strategist of Charles Schwab, said that market differentiation and dispersion are closely related to the background of yields. Large companies perform better than small companies due to long-term debt and more interest income. .
sonders said that because the Federal Reserve relies on data, the market is prone to sharp reactions in terms of inflation data or central bank policy guidance, which can lead to sharp fluctuations in bond yields and thus affect the stock market. For example, lower-than-expected inflation data could drive stocks higher, as investors may view it as supporting expectations for a rate cut by the Federal Reserve this year.
Apple soared over 7%
On June 11, Eastern Time, Apple soared, strongly driving the market. As of the close, Apple closed up 7.26% to US$207.15. The stock price hit a new all-time high, the largest single-day increase since November 2022. The market value increased by more than US$210 billion (approximately RMB 1.56 trillion) overnight, and the total market value was nearly $3.18 trillion.
On the news, on June 10, local time, Apple launched the Apple Intelligence system at its annual Worldwide Developers Conference (WWDC). The system integrates the powerful functions of generative artificial intelligence and can be applied to Apple phones, tablets, computers and other products across platforms and programs.
According to Wall Street, davison and Bank of America have since raised Apple’s target price to $230. Analysts at
da davison pointed out that Apple's artificial intelligence conference has stimulated hopes that consumers will pay for the next generation of iPhones, and that artificial intelligence capabilities may bring about a much-needed iPhone upgrade cycle. Such a cycle will represent the kind of growth that investors have been longing for. catalyst. Not only does Apple have consumers' information, but also their trust, and it can provide deeply integrated capabilities that standalone chat apps, PCs, and Android devices may not be able to fully replicate. Another analysis by
pointed out that investors seemed to choose to take profits from Nvidia and reallocate funds to Apple.
(Compiled by Ivan)
Editor: Joey
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