US Stock Market
On Thursday, several US-listed companies released positive earnings reports, and the decline in US Treasury yields boosted all three major US stock indexes. The Dow Jones Industrial Average and the S&P 500 Index rose less than 1%, while the Nasdaq Composite Index rose the most by 1.51%. Popular Chinese stocks rose across the board, with the Nasdaq Golden Dragon China Index closing up 6%. EV stocks surged, with XPeng Inc. up nearly 16%, Li Auto Inc. up about 10%, and NIO Inc. continuing its rally from Wednesday's over 10% gain by rising over 6% on Thursday.
Apple Announces Largest-Ever Stock Buyback Plan
After hours on Thursday, US tech giant Apple Inc. released its fiscal second-quarter results for 2024, with earnings per share and overall revenue slightly better than market expectations. Apple also announced the company's largest-ever stock buyback plan, totaling $110 billion. Apple's share price surged by about 7% in after-hours trading.
Qualcomm Shares Jump Nearly 10%
In addition, shares of US chipmaker Qualcomm Inc., which released a全面好于预期财报 after hours on Wednesday, closed up nearly 10% on Thursday, marking its biggest gain in over 18 months.
European Stock Markets Mixed
Investors assessed the Federal Reserve's signals on the outlook for rate cuts and earnings reports from several large companies, resulting in cautious trading on Thursday. European stock markets were mixed, with only the UK stock market rising, but by less than 1%.
HSBC Shares Surge on Strong Earnings
HSBC Holdings Plc, Europe's largest bank by market capitalization, saw its shares surge nearly 8.8% on Thursday, helped by a better-than-expected pre-tax profit growth in the first quarter.
Novo Nordisk Shares Fall Despite Strong Earnings
Europe's largest pharmaceutical company, Novo Nordisk A/S, delivered strong first-quarter results on Thursday, with sales of its blockbuster drug Semaglutide more than doubling, but fell short of market expectations. The company also raised its full-year profit guidance and significantly increased investment in capacity. Novo Nordisk's shares initially rose slightly after the European stock market opened, but then turned lower. By the close of trading, its shares on the Copenhagen Stock Exchange in Denmark had fallen by over 2.7%.
International Oil Prices Fluctuate Slightly
In commodities, news emerged on Thursday that OPEC+ is expected to announce an extension of its production cut agreement at its meeting in June, supporting oil prices. However, weak demand concerns continued to weigh on investors. By the close of trading, US oil futures prices fell 0.06%, while Brent oil futures prices rose 0.28%.
International Gold Prices Dip Slightly
Investors assessed the possibility that the Federal Reserve will keep interest rates high for an extended period, reducing the attractiveness of gold. International gold prices fell on Thursday. The spot price of gold for June delivery on the New York Mercantile Exchange settled at $2,309.60 per ounce, down 0.06%.
