Futuo Investment once again cheered US stocks: US stocks opened higher and went higher, and the three major indexes collectively closed higher

On Wednesday, local time, US stocks opened higher and walked higher, and the three major indexes collectively closed higher. After the market, the artificial intelligence leader Nvidia released its second-quarter earnings report, showing that its second-quarter revenue and performance outlook were much higher than expected, which significantly boosted the market. The US stock industry ETF as a whole closed higher, with the semiconductor ETF rising 2.17% to lead the market. The Philadelphia Semiconductor Index rose more than 2% to more than 3,600 points, with AMD and Intel leading the way.

European and American stock markets collectively closed higher

The Nasdaq closed up 1.59%

On Wednesday local time, the three major U.S. stock indexes closed higher across the board. By the end of the day, the Dow index rose 0.54% to 34,472.98 points, the S & P 500 index rose 1.1% to 4436.01 points, and the Nasdaq index rose 1.59% to 13,721.03 points.

Technology stocks rose across the board, with Apple up 2.19%, Amazon up 0.95%, Netflix up 3.48%, Google up 2.55%, Facebook up 2.31%, and Microsoft up 1.41%. Bank stocks also rallied collectively, with JPMorgan Chase up 0.71%, Goldman Sachs up 1.14%, Citi up 0.16%, Morgan Stanley up 0.53%, Bank of America up 0.05%, and Wells Fargo up 0.27%.

Popular Chinese concept stocks generally rose, Hengda Haitian rose 22.12%, Shanda Technology rose 12.05%, Shengmei Semiconductor rose 11.83%, Manbang Group rose 11.46%, Bit Digital rose 8.68%, Century Internet rose 8.64%, Gaotu Group rose 5.89%, Canaan Technology rose 4.93%, Global Data Solutions rose 4.91%.

In addition, "Vietnam Tesla" VinFast closed up 0.84% at $37.03, holding on to the previous day's gains.

In the European market, European stocks closed higher across the board, with the German DAX index rising 0.15% to 15,728.41 points, the French CAC40 index rising 0.08% to 7,246.62 points, and the British FTSE 100 index rising 0.68% to 7,320.53 points.

NVIDIA's second-quarter results exceeded expectations across the board

In terms of individual stocks, the artificial intelligence leader that has attracted much attention in the market this year released its latest financial report after the market, and the data showed that its second fiscal quarter revenue and performance outlook were much higher than expected.

Specifically, Nvidia's second fiscal quarter revenue is $13.51 billion, analysts expect $11.04 billion; net profit is $6.188 billion, expected $4.22 billion; adjusted earnings per share are $2.7, expected $2.07; data center business revenue is $10.32 billion, expected $7.98 billion.

The company expects third-quarter revenue of $16 billion, with a 2% volatility, and market expectations of $12.50 billion. The company approved an additional $25 billion share buyback program.

Three months ago, Nvidia expected the artificial intelligence boom to mean the company would achieve about $11 billion in revenue in the fiscal second quarter, an optimistic forecast that shocked Wall Street.

Nvidia's shares, which closed up 3 per cent on Wednesday, rose more than 10 per cent in after-hours trading on the back of good results, pushing them above the $500 mark. By Wednesday's close, the company's shares had risen more than 220 per cent since the start of the year.

In its second-quarter earnings report, Jen-Hsun Huang, Nvidia's chief executive, said, "A new era of computing has begun. Companies around the world are transitioning from general-purpose computing to accelerated computing and generative AI."

Many Cloud as a Service providers have recently announced plans to use NVIDIA's H100 AI chip in their data centers, and enterprise IT systems and software providers have announced partnerships with NVIDIA to bring NVIDIA's AI to various industries, according to Huang Renxun. "The race for AI from app makers has begun."

NVIDIA plans to at least triple the production of H100 artificial intelligence processors, and is expected to ship between 1.50 million and 2 million in 2024, which is a huge increase compared to the shipments expected 500,000 this year.

The U.S. Markit manufacturing and services PMI both hit a new low in August this year

In terms of macroeconomic data, the total number of new home sales in the United States in July was 714,000, an increase of 4.4% month-on-month. It is expected to start 705,000, and the previous value was revised from 697,000 to 684,000. But last week, the US 30-year fixed mortgage interest rate rose to 7.31%, a new high since 2000, and the home purchase application index fell to a new low since 1995, indicating that high interest rates have led to weak demand in the housing market.

The Mortgage Bankers Association (MBA) released data showing that the 30-year fixed mortgage rate rose 15 basis points to 7.31% in the week ended August 18; the mortgage application activity index was 184.8 and the mortgage purchase index was 142.

In addition, the latest data from S & P Global showed that the US Markit manufacturing and services PMI in July both missed economists' expectations.

The preliminary value of the Markit services PMI in the United States fell to 51 in August, the lowest since February 2023, but maintained the trend of seven consecutive months of expansion, and it is expected to fall from 52.3 to 52. The preliminary value of the employment sub-index fell to 50.1, the lowest since October 2022; the preliminary value of the new orders sub-index fell to the lowest since January 2023. The manufacturing PMI slowed to 47 from the previous value of 49, which was worse than expected at 49.3.

Among them, the preliminary value of the comprehensive employment index fell to 50.2, the lowest since June 2020, combined with the US Department of Labor's plan to lower the non-farm employment from March last year to March this year 306,000, indicating that employment growth may not be as strong as expected, lowering the dollar and US bond yields.

At the annual meeting of global central banks in Jackson Hole on Friday local time, Powell is expected to outline a final roadmap for anti-inflation action, while emphasizing the Federal Reserve's commitment to fulfilling its price stabilization mandate.