US stock market Wednesday: All three major stock indices rose by over 1%, Tesla rose by over 4%, and Alibaba rose by over 2%

On May 18th, it was reported that on Wednesday, US time, the main stock indexes of the US stock market closed higher, with gains exceeding 1%. Investors expect negotiators from the White House and Congress to break the deadlock in the US debt ceiling negotiations to avoid an unprecedented debt default

On May 18th, it was reported that on Wednesday, US time, the main stock indexes of the US stock market closed higher, with gains exceeding 1%. Investors expect negotiators from the White House and Congress to break the deadlock in the US debt ceiling negotiations to avoid an unprecedented debt default.

The Dow Jones Index closed at 33420.77 points, up 408.63 points, or 1.24%; The Standard&Poor's 500 Index closed at 4158.77, up 1.19%; The Nasdaq Index closed at 12500.57, up 1.28%.

Large technology stocks generally rose, with Google, Amazon, Meta, and Netflix all gaining more than 1%.

Leading chip stocks generally rose, with TSMC increasing by over 5%, and NVIDIA and Applied Materials increasing by over 3%; Intel bucked the trend and fell by over 1%. TSMC stated that nearly 90% of its 3nm (N3B) chip production capacity has been booked by Apple and will be used for this year's new iPhones, MacBooks, and iPads.

Popular stocks of new energy vehicles generally rose, with Tesla rising 4.41%, Rivian rising 2.52%, and Faraday rising 2.41% in the future; NIO rose 1.52%, Xiaopeng rose 0.74%, and Ideal fell 3.70%. Tesla CEO Elon Musk stated at the annual shareholders' meeting that Tesla will launch its first advertising campaign.

Among the leading e-commerce stocks in China, Alibaba rose 2.16%, JD.com fell 1.53%, and Pinduoduo rose 0.67%. Alibaba will announce its fourth quarter results before Thursday trading, and the company's business restructuring progress will be a key focus of attention.

Among other popular Chinese concept stocks, New Oriental fell 4.00%, BOSS Direct Employment fell 2.63%, Bilibili fell 2.31%, Autohome fell 1.68%, Baidu fell 1.63%, Ctrip fell 0.59%, Zhihu rose 2.98%, and Manbang rose 0.66%.

Specifically, the main technology stocks in the US stock market performed as follows:

The main chip stocks in the US stock market perform as follows:

The performance of popular Chinese concept stocks listed in the United States is as follows:

On Wednesday local time, US President Biden expressed confidence that there will be no debt default, and US House Speaker Kevin McCarthy stated that reaching an agreement on the debt ceiling this week is "feasible".

We don't want investors to get too excited because there are reports that the two sides are still far apart. However, we have a feeling that as the June 1 deadline approaches rapidly, all parties are indeed working hard to avoid a debt ceiling disaster, "said WinThin, head of global foreign exchange strategy at investment firm Brown Brothers Harriman

Wednesday's data showed that as of May 16th, the cash balance of the US Treasury Department had increased to $94.6 billion. This number is higher than the previous day's $87 billion, but lower than last weekend's $140 billion. Due to measures taken to avoid exceeding the $31.4 trillion debt ceiling, the US Treasury's bank accounts have been under downward pressure recently. (Liu Chun)