Title: US Stock Indexes Experience Slight Gains; Chinese Concept Stocks See Positive Trend
Date: August 1, 2021
In the early morning of August 1, Beijing time, the three major U.S. stock indexes witnessed a slight increase. The Dow Jones Industrial Average rose by 0.28%, contributing to a cumulative increase of 3.35% in July. Similarly, the Nasdaq Composite Index also enjoyed a marginal rise of 0.21%, contributing to a cumulative increase of 4.05% throughout July. Furthermore, the S&P 500 rose by 0.15%, marking a cumulative increase of 3.11% in the month of July.
Technology stocks experienced mixed performances, with Meta encountering a decline of more than 2%, while Amazon and AMD registered gains of over 1%. However, metal and oil and gas stocks emerged as the biggest gainers. Gold mining companies witnessed an impressive surge of nearly 10%, while the U.S. energy sector rose by more than 5%. Alcoa, Chevron, U.S. Steel, and Exxon Mobil recorded gains of over 3%, and Southern Copper witnessed a rise of more than 2%.
On the other hand, certain sectors faced a decline. Food and beverage, road transportation, and medical equipment companies experienced a drop in their stock values. Notably, Dekang Medical fell by more than 5%, Johnson & Johnson witnessed a drop of nearly 4% – marking its largest single-day decline since June 2020. XPO also fell more than 3%, whereas Tyson Foods, Pepsi, and Monster Drinks saw declines of over 1%.
Meanwhile, Chinese concept stocks had an overall positive trend, with the Nasdaq China Golden Dragon Index rising by 0.67%. Weilai, a popular Chinese electric vehicle manufacturer, witnessed a surge of more than 3%. Additionally, Vipshop, Weibo, Futu Holdings, and Bilibili saw gains of over 2%. JD.com and Alibaba also recorded increases of over 1%, while Pinduoduo, Baidu, iQiyi, NetEase, and Ideal Auto experienced marginal rises. However, Xiaopeng Motors encountered a significant decline of more than 10%, Tencent Music witnessed a drop of over 1%, and Manbang faced a slight decline.
As the global stock markets continue to navigate through various factors such as economic recovery, the impact of the pandemic, and changing investor sentiments, it remains crucial to stay updated with the latest market trends and stock movements.