On Friday, June 28, the three major U.S. stock indexes collectively rose in early trading, but gave up most of their gains in the first hour and a half of trading.
The technology-heavy Nasdaq has risen 176 points or nearly 1%; The lower-opening Dow Jones turned up and moved higher, rising more than 0.7%; The S&P 500 strengthened, rising about 0.74%.
In addition, the Nasdaq 100 index rose about 1.1%, refreshing an intraday all-time high and breaking the 20,000-point mark for the first time.
Star tech stocks were mixed. Microsoft turned up, rising all the way to 0.56% and then falling slightly; Apple's share price was like a roller coaster, diving straight at the beginning of the session, falling 0.25% and then rising more than 0.5%; Google A maintained its downward trend, falling as much as 1.4% at the beginning of the session, and then gradually narrowed its decline; Amazon has risen from falling nearly 1% all the way to rising 0.5%, and now all the gains have turned down; Meta dived more than 1.15% at the open, and then rose directly to nearly 0.45%; Tesla maintained its rally, once rising more than 2.8%; Netflix rose from a decline of 0.78% to 0.39% and is now down.
Chip stocks rose. The Philadelphia Semiconductor Index and the industry ETF SOXX were both higher, rising nearly 3%; Nvidia once rose as high as 3%, and then gave back some of its gains; Nvidia's double-long ETF rose about 0.6%; TSMC's U.S. stocks have risen about 3%, Micron Technology has risen about 2.4%, and Qualcomm has risen about 4.5%.
On the news, Morgan Stanley said on Friday that both the Federal Reserve and the European Central Bank could cut interest rates in September, even if central banks are reluctant to make commitments in advance. The European Union's antitrust commissioner said on Friday that it would conduct further antitrust scrutiny of Microsoft's $13 billion investment in OpenAI, and that the European Union would investigate OpenAI's exclusive use of Microsoft cloud technology.
AI concept stocks were mixed, with most of the popular Chinese concept stocks falling, Xpeng falling more than 4.5%, Weilai falling more than 3.3%, retail concept stocks rising slightly, and cryptocurrency concept stocks falling collectively.
Among the volatile stocks, Nike fell more than 19% as the company's fourth-quarter revenue fell short of expectations and lowered its performance guidance.
The following is updated before 21:50 Beijing time
On Friday, June 28, U.S. inflation cooled, and the three major U.S. stock indexes collectively rose, with the Dow up 0.39%, the Nasdaq up 0.18%, and the S&P 500 up 0.29%.
Most semiconductor stocks rose, with TSMC up about 1% and Nvidia rising slightly.
Nike fell about 18%, its biggest intraday decline since 2001, and the company's fourth-quarter revenue fell short of expectations.
ETFs in major industries mostly rose, with regional bank ETFs and semiconductor ETFs leading the gains.
Most of the Chinese concept stocks fell, Xiaopeng Motors fell more than 2%, JD.com, Li Auto, and Weilai fell more than 1%.
On the news side, the U.S. Department of Commerce released data showing that the month-on-month growth rate of the PCE price index in the United States in May fell to 0% from 0.3% in April, the lowest record since November 2023, in line with market expectations; The year-on-year growth rate also slipped to 2.6% from 2.7% in the previous month, which was in line with expectations.
What's more, the core PCE price index rose at its lowest year-on-year pace since March 2021 in May, also in line with expectations, after excluding volatile food and energy prices, to 2.6% from 2.8% in April. Meanwhile, the core PCE price index rose 0.1% month-on-month in May, the lowest on record since December 2023.
European stocks were mixed, while French stocks and bonds fell
The Euro Stoxx 50 fell 0.3%, Germany's DAX 30 rose 0.05%, Britain's FTSE 100 rose 0.24%, and France's CAC 40 fell 0.82%.
French government bonds fell, with the yield on the 10-year Treasury bonds rising as much as 6 basis points to 3.33%, breaking through recent highs and hitting their highest level since November, and now the gains have narrowed sharply. The difference between the yield on French 10-year bonds and German bunds climbed 4 basis points to 86 basis points, the highest since 2012. As France votes in the first round of the National Assembly election on Sunday, market volatility reflects heightened uncertainty.
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