S&P Nasdaq rebounds, NVIDIA rises 3.8% to halt three consecutive declines, most technology and AI stocks rise, while most Chinese concept stocks fall

On Tuesday, June 25th, the US stock market opened with mixed performances among the three major indices. Boosted by NVIDIA's rise, the S&P 500 and Nasdaq rebounded, ending a three-day decline, while the Dow Jones fell.

The Dow Jones, which is mainly composed of blue-chip stocks, opened weakly, dropping by 177 points or 0.45%. The S&P 500 index, which opened 12.86 points higher, maintained its upward trend, rising nearly 0.3%. The Nasdaq, dominated by technology stocks, opened 75.34 points higher, surging nearly 157 points or 0.9% in early trading.

Most star tech stocks rose. Microsoft opened with a nearly 0.3% increase, then dropped by about 0.2% before slightly rebounding. Apple maintained its upward trend, surging nearly 1.6% at one point. Amazon, Google A, Meta, and Tesla all showed strength in early trading, rising by about 1.4%, 1.6%, 2%, and 2.4% respectively. Netflix initially fell by about 1%, but later erased all losses and slightly rebounded.

Chip stocks rose across the board. The Philadelphia Semiconductor Index surged by over 1.2%, and the Semiconductor Industry ETF SOXX also rose by over 1.1%. NVIDIA reversed its three-day decline, surging by over 3.8% at one point, while the NVIDIA double long ETF rose by nearly 7.6%. Arm Holdings rose by over 3.1%, TSMC's US stock rose by over 2%, Broadcom rose by over 0.7% before dropping by about 0.8%, AMD fell by over 2.2%, Qualcomm and Micron Technology remained relatively flat.

AI concept stocks had mixed performances. SoundHound.ai fell by about 2.9%, Oracle fell by over 1.5%, while Dell Technologies rose by about 2.5% and AMD rose by about 1.1%.

Chinese concept stocks underperformed the US market. The ETF KWEB fell by over 1.3%, CQQQ fell by over 2%, and the Nasdaq Golden Dragon China Index (HXC) fell by over 1%.

Among popular stocks, new energy vehicle companies experienced a general decline, with Nio falling by over 2.4% at one point and Li Auto falling by about 2%. JD.com fell by over 2.7%, Tencent fell by about 1.3%. Faraday Future fell by about 33%, after the board approved a reverse stock split.

Retail investors' sentiment towards group stocks was low. GameStop and AMC Theatres both fell by over 3%.

In other assets, US bond yields and spot gold traded flat, international oil prices slightly declined, the US dollar fell by over 40 points against the Canadian dollar in the short term, and rising inflation hindered the Bank of Canada's interest rate cut in July.

The following is the update before 21:50 Beijing time

On Tuesday, June 25th, at the beginning of the US stock market session, the three major indices showed mixed performances, with the Dow Jones down by 0.15%, the S&P 500 up by 0.15%, and the Nasdaq up by 0.52%

Semiconductor stocks lead the gains, with NVIDIA rising over 1% after three consecutive days of sharp declines; AMD rises by about 2%.

Novo Nordisk's US stocks rise by over 2%. Previously, driven by global demand for the Danish pharmaceutical company's weight-loss drugs, the company's European stocks hit a new high on Tuesday. European stocks surged straight after the opening, breaking 1000 Danish krone (144 USD) for the first time in history one hour after the opening, currently up by 2%.

Novo Nordisk announced on Tuesday that its heavyweight weight-loss drug Wegovy has been approved in China. Another drug, Ozempic, was approved for diabetes treatment in China in 2021, with sales doubling last year to reach 693.6 million USD. The company also announced on Monday plans to invest 4.1 billion USD to expand US manufacturing to meet demand.

Walmart falls by 2.5%, marking its largest drop in two months.

Major industry ETFs show mixed performance, with global technology index ETFs and biotechnology index ETFs leading the gains.

Most Chinese concept stocks decline, with Bilibili dropping by about 4%; Faraday Future falls by nearly 30% after the board approved a reverse stock split.

European stocks collectively decline, Airbus falls by over 11%

The Euro Stoxx 50 index falls by 0.70%, Germany's DAX30 index falls by 1.11%, the UK's FTSE 100 index falls by 0.34%, and France's CAC 40 index falls by 1.09%.

On the individual stock side, Airbus European stocks fell by more than 11%. On the news front, Airbus is facing a shortage of aircraft components, and the situation is becoming increasingly severe. The world's largest aircraft manufacturer warned on Monday night that there is a shortage of engines, aircraft structural parts, and cabin interiors, affecting delivery schedules. As a result, Airbus has cut a series of long-term targets, from operating profit, cash generation, and aircraft deliveries, to the monthly production of its most important A320 model.