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China News Service, July 23: On the 22nd local time, driven by the rebound of technology stocks, the three major U.S. stock indexes closed higher collectively, with the Nasdaq up 1.58%, the S&P 500 up 1.08%, and the Dow up 0.32%.

Source: Wind

The Wall Street Journal analyzed that in recent trading days, investors have been selling high-growth technology stocks and buying stocks of smaller companies, partly because they bet that these companies will benefit more if the Federal Reserve starts to cut interest rates in the coming months. However, this rotation paused on Monday, and traders returned to their favorite technology companies.

Reuters pointed out that Biden's withdrawal from the election may prompt investors to close their positions as they bet that Trump's victory will increase fiscal and inflationary pressures in the United States. But some analysts said the market may benefit from the increased possibility of a divided U.S. government under the next administration.

On the market, most large technology stocks rose, with Apple down 0.16%, Amazon down 0.33%, Netflix up 2.29%, Google up 2.24%, Facebook up 2.23%, and Microsoft up 1.33%.

Bank stocks were mixed, with JPMorgan Chase up 0.25%, Goldman Sachs up 0.47%, Citigroup down 1.03%, Morgan Stanley up 0.37%, Bank of America down 1.39%, and Wells Fargo down 0.09%.

Energy stocks fell across the board, with Exxon Mobil down 0.69%, Chevron down 1.34%, ConocoPhillips down 1.76%, Schlumberger down 0.46% and Occidental Petroleum down 3%.

Chip stocks performed strongly, with Applied Materials up 6.28%, NXP Semiconductors up 5.39%, ASML up 5.13%, Microchip Technology up 4.9%, Nvidia up 4.76%, Qualcomm up 4.7%, Broadcom up 2.36%, TSMC up 2.17% and Intel up 1.18%.

Popular Chinese stocks generally rose, with Xpeng Motors up more than 6%, NIO up more than 5%, Li Auto up more than 4%, Weibo up more than 3%, NetEase, JD.com, Baidu, and Bilibili up more than 2%, Alibaba and Vipshop up more than 1%, and Pinduoduo and Futu Holdings up slightly.

The three major European stock indices also rose across the board. Germany's DAX index rose 1.29% to 18,407.07 points, France's CAC40 index rose 1.16% to 7,622.02 points and Britain's FTSE 100 index rose 0.53% to 8,198.78 points.

International oil prices fell slightly, with WTI August crude oil futures closing down $0.35, or about 0.44%, at $79.78 per barrel; Brent September crude oil futures closed down $0.23, or about 0.28%, at $82.40 per barrel. (China News Service APP)