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Source: China Fund News
Reporter Ivan
On May 22, US Eastern Time, the minutes of the Federal Reserve were more hawkish, and the three major indexes closed down collectively, with the Dow Jones Industrial Average recording the biggest decline this month.
The financial report of AI leader Nvidia exceeded expectations in all respects, with an increase of more than 6% after hours. Its share price exceeded $1000 for the first time, and its potential market value may increase by more than $120 billion.
Photovoltaic plate of US stock market explodes! First Solar rose 18.69%, and most photovoltaic stocks rose more than 10%.
The minutes of the Federal Reserve once again "release the eagle"
On May 22, US Eastern Time, the minutes of the Federal Reserve's policy meeting from April 30 to May 1 were released during the session. Minutes display, Many policy makers worried about the insufficient progress of inflation reduction and believed that it would take more time to have confidence in cutting interest rates, suggesting that the wait-and-see state of maintaining high interest rates should last longer 。
In addition, many decision makers at the meeting mentioned that they are willing to take action if the risks facing the economic outlook become reality and further tightening policies become appropriate. The decision makers at the meeting said that the future policy path will depend on the data to be released, the changing prospects and the risk balance.
Earlier, Chicago Fed Chairman Gusby said that inflation data must be observed for a longer time and be patient. Boston Fed Chairman Collins also said that it is important to be patient, and it will take longer to see the progress needed to adjust interest rates.
Three major indexes of US stocks closed lower collectively
The Dow hit its biggest decline this month
On May 22, US Eastern Time, after the release of the minutes of the Federal Reserve, the volatile US stock market turned downward, and finally the three major indexes closed down collectively, with the Dow Jones Industrial Average recording the biggest decline this month.
As of closing, Dow Jones The industrial index fell 0.51% to 39671.04; The S&P 500 index fell 0.27% to 5307.01; NASDAQ The index fell 0.18% to 16801.54.
Nick Timiraos, a reporter known as the "New Federal Reserve News Agency", wrote that the US inflation data for three consecutive months released up to April was disappointing, and the reduction of inflation suffered setbacks. Therefore, the officials of the Federal Reserve expected that it would take longer to cut interest rates, and some officials were also open to raising interest rates when inflation accelerated.
On May 22, copper futures plunged, with LME copper falling by more than 4%. International precious metal futures closed sharply lower, COMEX gold futures fell 1.8% to 2382.3 dollars/ounce; COMEX silver futures fell 3.39% to 30.99 dollars/ounce.
Nvidia's performance exceeded expectations
The share price once rose by more than 6% after hours, breaking through $1000
After trading on May 22, US Eastern Time, AI leader Nvidia announced its performance, which was more than expected.
The financial report shows that Nvidia's revenue reached US $26.04 billion, higher than expected, with a year-on-year growth of 262%; Net profit reached 14.88 billion US dollars, up 628% year on year; Adjusted earnings per share were $6.12, higher than the expected $5.59.
The company's largest and most important data center sales business, including AI chips and many other components needed to run large AI servers, has also seen remarkable growth. Nvidia said that its data center business grew by 427% from the same period last year, reaching $22.6 billion in revenue.
Nvidia also provided strong expectations for the quarter's results. Nvidia said it expects its current quarterly sales to reach $28 billion. According to LSEG's prediction, some Wall Street investment banks expect earnings per share of $5.95 and sales of $26.61 billion.
It is worth noting that Nvidia also announced that it would increase its quarterly cash dividend by 150%, from $0.04 per share to $0.10 per common share. The increased dividend is equivalent to US $0.01 per share after the split, and will be paid to all shareholders registered on June 11, 2024 (Tuesday) on June 28, 2024.
Nvidia CEO Huang Renxun said on the conference call that the next industrial revolution has begun. He reiterated that artificial intelligence (AI) will bring obvious productivity growth to "almost every industry".
Nvidia once rose by more than 6% after hours, its share price exceeded $1000 for the first time, and its potential market value may increase by more than $120 billion.
Photovoltaic sector in US stock market explodes
On May 22, US East Time, the US stock photovoltaic sector exploded!
First Solar rose 18.69%, leading the S&P 500. Most PV stocks rose more than 10%, such as Daquan New Energy Up 17.06%, Jinko Energy 17.01%, Array Technologies 16.83% and Astor Solar 14.91%.
UBS According to the report released earlier, First Solar is a "neglected direct beneficiary" of AI driven power demand growth, reiterating its "buy" rating on the stock.
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