Strengthening technology stocks drives the index to continue to hit new highs

U.S. stocks rose during the session, driven by strong technology and semiconductors. The Dow Jones Industrial Average was temporarily reported at 46,196.38, up 0.39%; the S & P 500 Index was temporarily reported at 6,641.83, up 0.63%; the Nasdaq Index was temporarily reported at 22,511.97, up 1.13%; the Philadelphia Semiconductor Index was temporarily reported at 6,287.55, up 3.75%. Market risk appetite has rebounded, funds have obviously returned to high-growth and AI-related groups, and the interest rate cut effect just after the Federal Reserve's meeting, coupled with better than expected employment and manufacturing data, resonated with pushing the market upward.

Strong volume of semiconductors has become the main axis of multi-head

Chip stocks led the gains and drove the expansion of volume and energy, with Fei leading the four major indexes for half a time. On the market, Intel(INTC) was stimulated by major cooperation, and its share price rose by about 23.94%. The transaction momentum was significantly amplified and became the S & P 500 gainer;Synopsys(SNPS) rose by about 11.03%, reflecting the continuation of demand on the design and verification side; the overall semiconductor community led the gains with a clear structure, supporting technological authority and market risk acceptance.

Huida invests in Intel to detonate the theme of cooperation between AI and PC

Nvidia(NVDA) announced an investment of US$5 billion in Intel(INTC) and a cooperation in developing data centers and PC chips. The market interprets it as an important step in the deep integration of the AI supply chain. Intel was inspired by this, and NVDA's share price also strengthened, rising about 3.75% during the session. Investors are concerned about the new product pace of this cooperation on AI servers and PC computing, and evaluate the spillover effects on design tools and IP providers.

Most of the large technology equity stocks are strong

The performance of the seven leading U.S. stocks was divided but overall overrepresented. Nvidia(NVDA) was the best performer, up about 3.75% during the session;Meta Platforms(Facebook parent company Meta) was up about 0.89%;Alphabet (GOOGL) was up about 0.49%; and Amazon(AMZN) was up about 0.44%. In contrast, Tesla(Tesla, TSLA) fell slightly by about 0.61%, Apple(Apple, AAPL) retreated by about 0.46%, and Microsoft(Microsoft, MSFT) fell slightly by about 0.17%. The stability of weights will help the index and the S & P 500 maintain their upward trend.

Information security and AI application themes push up software stocks

CrowdStrike(CRWD) surged approximately 11.62% after its annual recurring income outlook exceeded expectations, with both volume and price rising. PayPal(PayPal, PYPL) and Alphabet (GOOGL) have reached a cooperation to introduce Google's AI tools to optimize the e-commerce experience. Relevant news supports the stock prices of both parties to rise and strengthens the multi-party atmosphere in the cloud and AI application chain.

Catering and data services weaken into headwinds

Catering and data service stocks with weak fundamentals are under pressure. Darden Restaurants(DRI) reported earnings per share that fell by about 8.18% after failing expectations and warning of cost pressures;Cracker Barrel (CBRL) shares fell due to brand updates and operating adjustments. FactSet Research Systems (FDS)'s profit fell by about 7.13% during the session after falling short of expectations and its outlook was conservative. On the raw materials side, Nucor(Nucor, NUE) has a weak outlook for the prosperity of various business groups, and stock prices have fallen, indicating that cyclical groups are still affected by fundamental pressure.

Better than expected employment and manufacturing data supports risk appetite

The latest number of initial jobless claims reported 231K, which was better than market expectations of 240K, indicating that the job market is still resilient; the Philadelphia Federal Reserve Bank Manufacturing Index reported 23.2, far exceeding expectations and turning from negative to positive, with new orders, business environment and other sub-items improving simultaneously; the price payment index dropped from 66.8 to 46.8, showing signs of cooling inflationary pressure. The data combination is conducive to the economy's soft landing narrative and forms a positive feedback with the upswing of technology stocks.

Yields rose with the US dollar but volatility remained under control

In the bond market, the yield rate of the 10-year U.S. bond rose, and the U.S. dollar strengthened against the euro, pound and yen, indicating that funds 'relative preference for U.S. assets continued; commodities performed differently, with oil prices rising and gold prices falling. On the volatile side, the VIX panic index did not show an abnormal surge, and risk sentiment was stable. Overall, changes in interest rates and foreign exchange markets have not shaken the intraday lead of technology and growth stocks.

Small stocks and market breadth have improved simultaneously

The Russell 2000 Index rose by about 1.75% intraday, with small stocks making up significantly and the market breadth expanding. Intraday data showed that only about 270 constituent stocks in the Russell 2000 fell, the concentration of selling pressure dropped, and buying spread from large weights to small and medium-sized themes, helping to maintain the health of the trend.

Political and regulatory noise has not changed the main line yet

Politically, Trump's application to the Supreme Court to replace Federal Reserve Governor Lisa Cook triggered discussions in the market about the independence of the central bank; on the corporate side, Walt Disney(Disney, DIS) suspended its program, triggered controversy. Related news disrupted sentiment in the short term, but judging from the market and volume and energy, the main axis of funds still focuses on technological innovation and financial fundamentals.

Futures and aftermarket outlook observation Back to fundamentals and yields

Stock index futures maintained a bullish trend in intraday trading, which verified each other with spot prices. Focus on two major variables in the short-term: first, whether the semiconductor and AI chains can maintain high-end consolidation after heavy volume to absorb the increase; second, the impact of the continued rise in government bond yields on the evaluation of growth stocks. After-hours focus will turn to the strength of logistics and housing demand reflected in financial reports such as FedEx(FDX) and Lennar (LEN), as an instant verification of the boom thermometer. Overall, the main line of profit continues with the support of technology and data. The index performance is mainly rotating upward. Investors can continue to pay attention to changes in volume and energy and interest rate trends.