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Cailianshe News, July 26 (Editor: Niu Zhanlin)On Thursday, Eastern Time, the three major U.S. stock indexes closed with mixed gains and losses. The market fluctuated sharply throughout the day and fell sharply in the late trading, indicating that investors' panic has not subsided and more turbulence may occur in the future.

After experiencing the most violent sell-off since 2022, large technology stocks continued to fall sharply at the opening on Thursday, and then quickly pulled up, but ultimately failed to recover the lost ground.TeslaClosed up.

“I think the market is a little bit shaky, and investors’ concerns have been growing, and they increased yesterday, but they eased today,” said Yung-Yu Ma, chief investment officer at BMO Wealth Management.

Investors are still struggling to digest a series of disappointing earnings reports and political and economic uncertainty, but the latest data showed that the U.S. economy remains resilient, which partially eased the market's losses.

Data released by the Bureau of Economic Analysis of the U.S. Department of Commerce on the same day showed that the annualized quarterly rate of U.S. GDP in the second quarter increased by 2.8%, far higher than the expected 2%. Also released was the preliminary value of the annualized quarterly rate of the core PCE price index in the second quarter, which was 2.9%. Although it was higher than the expected 2.7%, it was significantly lower than the data in the first quarter and the same period last year.

In addition, the historical rotation is still continuing. AI concept stocks that once led the market are now leading the decline. Small-cap stocks are outperforming large technology stocks. The Russell 2000 index rose 1.3% on the day.

The market is currently focusing on the PCE inflation data released on Friday, which will determine the direction of the Fed's policy. If the data shows that price pressures have eased, it will be a big boon to the market; but if the progress of anti-inflation is unfavorable, it will also increase the selling momentum of US stocks.

Market Dynamics

As of the close, the Dow Jones Industrial Average rose 81.20 points, or 0.20%, to 39,935.07; the Nasdaq fell 160.69 points, or 0.93%, to 17,181.72; and the S&P 500 fell 27.91 points, or 0.51%, to 5,399.22.

U.S. stock industry ETFs rose and fell. The aviation industry ETF, regional bank ETF and banking industry ETF all closed up at least 2%. The energy industry ETF rose 1.73%, and the biotech index ETF rose nearly 1%. The semiconductor ETF closed down nearly 2%, the global technology stock ETF, technology industry ETF and utilities ETF all fell by about 1%, and the medical industry ETF fell 0.5%.

Most of the 11 sectors of the S&P 500 index closed lower, with the telecommunications sector down 1.86%, the information technology/technology sector down 1.14%, the consumer discretionary sector down 0.42%, the financial sector up about 0.3%, the industrial sector up 0.76%, and the energy sector up 1.47%.

Hot Stock Performance

Most large technology stocks fell, with Google falling more than 3%.MicrosoftMeta,NvidiaDown more than 1%,apple、Netflix、AmazonDown slightly; Tesla rose about 2%.

Ford Motor Co. shares plunged more than 18 percent, their biggest one-day drop in more than 15 years, after the automaker blamed a sharp earnings miss on a surge in warranty costs for older vehicles. Recurring quality issues have driven up Ford’s warranty costs for years, but an $800 million surge in costs in the second quarter surprised investors.

Biotech company Viking Therapeutics rose more than 28% as its subcutaneous injection drug "VK2735" for the treatment of weight loss will enter the Phase III trial stage. Previously, the drug obtained positive clinical results in the Phase II trial.

STMicroelectronicsA plunge of more than 15% and the sluggish auto market also dragged down automotive semiconductor giant STMicroelectronics to cut its revenue guidance for the second time this year.

Popular Chinese concept stocks rose and fell, with the Nasdaq China Golden Dragon Index falling 0.68%. JD.com rose more than 2%, Xpeng Motors, Li Auto, iQiyi, and NetEase rose more than 1%, and Bilibili and Vipshop rose slightly.

Company News

[OpenAI launches AI search tool SearchGPT]

On Thursday, Eastern Time, OpenAI announced that it is testing a new AI search tool, SearchGPT, which can access information from the Internet in real time, aiming to provide users with more timely and accurate information. This marks the company's most direct challenge to Google to date, so after the news was announced, Google A shares fell more than 2% in the short term. Currently, SearchGPT is being tested with a small group of users and publishers, and the ultimate plan is to integrate the tool into the chatbot ChatGPT. OpenAI CEO Altman posted on social media on Thursday: "We think there is still a lot of room for development in search functions, so we launched the SearchGPT prototype."

【BoeingThe spacecraft malfunction has not been repaired yet and the return date of the two US astronauts is still uncertain.

On Thursday (July 25th) local time, the National Aeronautics and Space Administration (NASA) said that two American astronauts will remain on the International Space Station until engineers complete the repair of Boeing's "Starliner" problem, and the return date has not yet been determined. After weeks of troubleshooting and testing, NASA Commercial Manned Project Manager Steve Stich claimed on Thursday that great progress is being made, but it is not ready to announce a return date. "Our goal is to have astronauts Butch Wilmore and Suni Williams successfully return to Earth on the Starliner and go home as soon as they are ready." Stich admitted that if the Boeing spacecraft malfunction cannot be repaired, NASA also has a backup plan, which is to let SpaceX's Dragon spacecraft pick up the trapped astronauts.

【DisneyWith the momentum of a big victory, Deadpool and Wolverine team up to break multiple box office records]

The Walt Disney Company, which just announced this week that it had broken the global box office record for animated films, has begun to challenge a series of new records. The superhero movie "Deadpool and Wolverine", produced by Marvel Studios and distributed by Walt Disney, has been released around the world since this week. This film is not only the 34th film released under the "Marvel Super Universe", but also the first film in the series to be rated R by the American Film Association (restricted level, viewers under the age of 17 need to be accompanied by an adult to watch). The first two films in the "Deadpool" series were produced and distributed by 20th Century Fox. With Disney's acquisition of the company in 2019, this IP was also brought back to the Marvel Universe. Judging from preliminary ticketing data, this movie has the opportunity to hit multiple records in the upcoming weekend.

【RocheCEO: The weight loss drug the company is developing has the best potential]

Thomas Schinecker, CEO of Swiss pharmaceutical giant Roche, said that the weight loss drugs Roche is developing will have a place in the market. Schinecker said that the company's two current weight loss drugs have shown the best potential and they can stand out in the growing weight loss drug market. Schinecker said: "In our own product portfolio, we also have many different drugs that can be used in combination with (weight loss drugs). "He cited GYM329, a drug that fights muscle loss, which is one of the main side effects of weight loss.