Beijing time on May 14th news, US stocks rebounded today, although the three major stock indexes regained some “lost ground”, but still fell sharply this week, the Dow fell 2.1%, the S&P 500 fell 2.4%, and the Nasdaq fell 2.8%. As of the close, the Dow rose 466.36 points, or 1.47%, to close at 32,196.66 points; the S&P 500 rose 93.81 points, or 2.39%, to close at 4,023.89 points; the Nasdaq rose 434.04 points, or 3.82%, to close at 11,805 point.
The major technology stocks in the Chinese concept stocks all rose, and the new energy vehicle sector closed sharply higher. Xiaopeng Motors rose more than 11%, Weilai rose more than 9%, and Li Auto rose more than 8%.
Major U.S. tech giants rose across the board:
▲ Major US technology giants
Major Chinese tech stocks all rose:
▲ China’s major technology stocks
China concept stock price
Other Chinese concept stocks that rose include:
▲ Other Chinese concept stocks that have risen
Companies that fell include:
▲ Other Chinese stocks that fell
US/Foreign tech stocks
Other foreign tech stocks that rose included:
▲ Other foreign tech stocks that rose
Companies that fell include:
▲ Other foreign tech stocks fell
▲ Musk’s acquisition of Twitter deal “suspended” Tesla investors relieved
Tesla investors can breathe a sigh of relief when Elon Musk announced a “pause” in the acquisition of Twitter, which could mean he will focus more on managing Tesla. Tesla shares have been under pressure since Musk announced a $44 billion acquisition of Twitter on April 14. In addition to worrying about less energy to manage Tesla, they also worry that Musk will use Tesla stock to finance the deal. In fact, Musk used his Tesla stock holdings to secure a $12.5 billion margin loan.
▲ Tesla shares have fallen about 29% since the acquisition of Twitter
The margin loan has weighed on Tesla’s stock, which has fallen about 29% since the Twitter deal was announced, in part because investors fear Musk will sell more Tesla shares. Musk is at the center of Tesla, and the two pillars of Tesla’s stock price rise are: product and Musk’s performance.
▲ Analysts say that Apple’s stock performance is worrisome compared to the S&P
Apple, which has been a “ballast stone” for the broader market for most of the year, broke its defense this week, closing down more than 9% through Thursday’s close. Even after today’s rebound, Apple stock has underperformed the S&P 500 this year. Analysts called it worrying. The importance of Apple to the broader market cannot be underestimated. With a market value of more than $2 trillion, it is the most heavily weighted S&P 500 stock. Apple shares continue to fall next week, potentially dragging the S&P 500 down again. Kim Forrest, founder of investment firm Bokeh Capital Partners, said Apple’s rapid decline was “frustrating.”
▲ Retail investors are still buying Apple
Strong profitability, which made Apple a safe haven for investors during times of market turmoil, has now also been sold off. One positive sign, though, is that retail investors are still buying into Apple.
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