US stocks on Wednesday: Popular Chinese concept stocks generally rose, while Faraday will fall nearly 19% in the future

On November 16th, it was reported that on Wednesday, US time, the main stock indexes of the US stock market closed higher again. The weak inflation data in the United States in October has boosted hopes for a soft landing for the US economy, which means that while economic growth continues, the Federal Reserve will reduce borrowing costs

On November 16th, it was reported that on Wednesday, US time, the main stock indexes of the US stock market closed higher again. The weak inflation data in the United States in October has boosted hopes for a soft landing for the US economy, which means that while economic growth continues, the Federal Reserve will reduce borrowing costs.

The Dow Jones Index closed at 34991.21 points, up 163.51 points, or 0.47%, rising for four consecutive days, reaching its highest closing point since August 14th this year; The Standard&Poor's 500 Index closed at 4502.88, up 0.16%, marking its highest closing point since September 14th this year; The Nasdaq Index closed at 14103.84, up 0.07%

Most large technology stocks rose, with Netflix up nearly 3%, while Apple, Google, and Microsoft rose less than 1%; Amazon and Meta both fell by more than 1%.

Most of the leading chip stocks rose, with Intel and ARM rising more than 3%, while Qualcomm and Texas Instruments rose more than 1%.

Most popular stocks of new energy vehicles rose, with Tesla rising 2.29% and Rivian rising 2.01%; Faraday fell 18.54% in the future, with a market value of $38.756 million; NIO rose 4.75%, Xiaopeng rose 2.29%, and Ideal rose 1.71%.

Among the leading e-commerce stocks in China, Alibaba rose 3.82%, JD.com rose 7.04%, and Pinduoduo rose 3.08%. The 2023 third quarter financial report released by JD shows that JD's net revenue in the third quarter was 247.7 billion yuan (approximately $340), a year-on-year increase of 1.7%.

Among other popular Chinese concept stocks, BOSS Direct Employment rose 7.21%, Baidu rose 3.01%, Bilibili rose 2.77%, Manbang rose 1.27%, Autohome rose 1.24%, Ctrip rose 1.22%, New Oriental fell 2.49%, and Zhihu fell 0.99%.

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:

Chris Zaccarelli, Chief Investment Officer of Independent Advisor Alliance, an investment firm, said: "Currently, inflation is falling and the economy is still growing strongly. Therefore, the only logical direction for the stock market is to rise

According to data released by the US Department of Commerce on Wednesday, the Producer Price Index (PPI) fell 0.5% month on month in October. Economists had previously predicted a month on month growth of 0.1%. Excluding volatile food, energy, and trade service prices, the core PPI of the United States rose 0.1% month on month in October, lower than the 0.3% increase in the previous month.

Retail sales in the United States fell 0.1% month on month in October, marking the first decline in seven months. However, as the country enters the holiday shopping season, this decline is unlikely to continue. Economists previously expected sales to decline by 0.2% month on month. This is the first time the index has shown a negative value since March this year.

The signs of easing inflation pressure in the United States have raised hopes that the Federal Reserve has not only completed this cycle of interest rate hikes, but is also more likely to lower interest rates next year.

(Liu Chun)