When the US GDP reached a recent high of more than 4%, the three major U.S. indexes have recently undergone varying degrees of adjustment. Focusing on observing the Nasdaq market, the sharp drop in technology stock has become the main factor in the Nasdaq pullback.
Check Look at Nasdaq Index You will find that the index has entered a bull market for more than 9 years. Although the increase is not as good as the bubble era of the last century, the bull market has reached a record high. Under this situation, some analysts have suggested that the US stock market may usher in a turning point.
On Monday, the three major U.S. stock indexes fell across the board
On Monday, the three major U.S. stock indexes fell across the board. The Nasdaq index fell 1.15%, the third consecutive trading day for the index to fall, with a cumulative decline of nearly 4%. also fell for three consecutive days. The S&P 500 index fell 0.58% on Monday and fell 1.53% in the past three trading days. The Dow Jones Index fell 0.57% on Monday, down two consecutive trading days.
Tech giants collapsed in succession
On Monday, the five leading technology stocks in the US stock market, "FAANG" (Facebook , Apple, Amazon , Netflix, Google ), fell across the board, Netflix plummeted 5.7%, Amazon and Facebook both fell more than 2%, Google Class A shares fell 1.82%, and Apple fell 0.56%.
Recently, US technology stocks have experienced a collapse-like decline. Facebook plummeted nearly 19% last Thursday, down 21.35% in the past three trading days. "FAANG" has another four giants, Apple fell 2.52% in three days, Amazon fell 4.53%, Google Class A shares fell 3.6%, and Netflix fell 7.69%. Since then, the cumulative market value of the five giants "FAANG" has shrunk by more than 1.6 trillion yuan in the past three trading days, and Facebook's market value has shrunk by more than 900 billion yuan.
Moreover, many Chinese stocks listed in the US market have also undergone significant adjustments to in the past three days, such as Sohu , Pinduoduo, Bilibili, and Weibo, cumulative declines of 18.86%, 15.73%, 13.24%, and 8.49%.
The poor performance of
is the reason for the sharp drop in some stocks. Facebook's second-quarter financial report showed that Facebook's second-quarter operating income was US$13.23 billion, a year-on-year increase of 42%, a lower than market expectations of US$120 million, a gap of about 0.9%. In addition, there were 1.47 billion daily active users and 2.23 billion monthly active users, both of which increased by 11% year-on-year, but lower than the market expectations of 1.49 billion and 2.25 billion. Twitter's financial report shows that its monthly active users fell year-on-year in the second quarter, and were lower than expected.
The bull market of the US stock market hit a record high
The US stock market has experienced a long bull market. Nasdaq index rose from its low of 1266 points in March 2009 to 7933 points in recent times, with a cumulative increase of more than 5 times , and the bull market hit a record high.
S&P 500 and Dow Jones Index are also basically the same bull market. Among them, the S&P 500 rose from the low of 667 points in March 2009 to 2873 points in recent times, with a cumulative increase of more than three times; the Dow Jones Index rose from the low of 6470 points in March 2009 to 26617 points in recent times, with a cumulative increase of more than three times.
How do institutions view the current US stock market?
Some analysts pointed out that the performance of US technology stocks is becoming more and more like the Nasdaq Internet in 2000, which makes people feel very worried. Especially after entering a historic bull market, it may usher in a turning point. But some institutions do not agree with this.
CICC believes that at present, it may not be too early and immature to make a judgment on the turning point of the overall US stock market, and the fundamentals of US stocks are still stable or even strong. , but CICC also pointed out that Facebook's plunge may put some pressure on the market index level in the short term.
Morgan StanleyChief U.S. stock strategist Michael Wilson warned that the U.S. stock sell-off has just begun and is ushering in the biggest consolidation since the deep drop in February. He believes that last Friday sent out a signal that the market was "exhausted". When Amazon's second-quarter report was released and the US second-quarter GDP was as strong as expected, investors may not be able to find the next excitement point. In other words, all the good news is out.
"Nasdaq is tired" TD Ameritrade executive vice president of transactions Steven Quirk said in an interview at Bloomberg's New York headquarters."The upward market requires greater breadth."
In addition, the Fed's future interest rate hike expectations will also affect the trend of the US stock market. The market expects the Fed to raise interest rates twice for the rest of the year.
This article is from Databao
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