The Dow Jones Industrial Average has reached a new high, the oil prices may rise to $100 this year, and smartphone shipments are expected to rebound, according to recent reports.
On the stock market front, the Dow and S&P have hit record highs, with the S&P achieving its best first-quarter performance in five years. U.S. GDP growth has been revised upward to 3.4%, indicating strong economic growth. Market focus is now shifting to PCE inflation data to be released today.
Commentator Xu Guangyu noted that the U.S. stock market’s upward trend this year has been driven by optimism about monetary policy expectations and breakthroughs in artificial intelligence technology. Traditional industries like raw materials and energy have shown resilience, while the computer and semiconductor industry has become a hot spot.
In the oil market, JPMorgan Chase strategists have warned that Russia’s production cuts could push oil prices to $100 a barrel this year. This action could intensify inflationary pressures in the U.S. and impact monetary policy decisions.
Global smartphone shipments are expected to rebound by 3% in 2024, with high-end smartphones leading the growth. Innovations in AI technology from brands like Samsung and Apple are expected to drive market growth.
Hyundai Motor is considering adjusting production plans at its new U.S. plant to include hybrid or plug-in hybrid vehicles. The move reflects consumer demand for environmentally friendly options and the need for technological diversity in the market.
Merck’s new drug for pulmonary arterial hypertension, Winrevair, has been approved by the FDA and priced at $14,000 per vial. Analysts expect the drug to reach annual sales of $5 billion by 2030. The launch of this new drug could provide Merck with a significant revenue boost.
Overall, the financial markets are seeing positive movements in various industries, with key players like Merck, Hyundai Motor, and smartphone manufacturers adjusting their strategies to meet changing market demands.