In the early morning of the 14th Beijing time, U.S. stocks closed higher on Friday, the S&P 500 rebounded from the brink of a bear market, and technology stocks led the gains. But all three major stock indexes fell more than 2% this week. Federal Reserve Chairman Jerome Powell dismissed market speculation of a 75 basis point rate hike. The rally in cryptocurrencies boosted risk sentiment. Twitter shares fell sharply, and Musk said the acquisition of Twitter was on hold for now.
The Dow rose 466.36 points, or 1.47%, to 32,196.66; the Nasdaq rose 434.04 points, or 3.82%, to 11,805.00; the S&P 500 rose 93.81 points, or 2.39%, to 4,023.89.
While U.S. stocks closed higher on Friday, the three major indexes were still down more than 2 percent for the week. The Dow fell 2.14% this week, the seventh straight weekly decline. The Nasdaq fell 2.8% and the S&P 500 fell 2.41%, both posting their sixth straight weekly losses.
U.S. stocks fell sharply earlier this week, with the S&P 500 on the verge of a bear market. The index fell 4.6% Monday through Thursday, and is down 18.1% from its Jan. 3 record high, and a technically bearish dip should the index close below 3,837.24. A bear market is a decline of more than 20% from recent highs.
In terms of economic data on Friday, the U.S. import price index in April was unchanged from the previous month, 2.60%, and 0.60% expected.
U.S. stock market turnover champion Tesla (TSLA.US) closed up 5.71% on Friday, with a turnover of $23.643 billion. Tesla CEO Elon Musk announced on social media on Friday that the acquisition of Twitter has been temporarily put on hold due to the need to confirm data, and the future is still committed to acquiring Twitter. He said that the reason why the acquisition of Twitter was temporarily put on hold was that it estimated that Twitter accounts for less than 5% of fake or spam accounts, and needed to wait for more details to prove the matter.
The process of Musk’s acquisition and promotion is full of twists and turns. Twitter announced on April 4 that Musk had purchased a 9.2% stake in Twitter and became the largest shareholder. On April 13, Twitter’s filing with the U.S. Securities and Exchange Commission showed that Musk made a takeover offer, planning to buy Twitter at a price of $54.20 per share, for a total price of about $43 billion.
$Twitter (TWTR.US)$ closed down 9.67%, with a turnover of $4.106 billion, ranking 8th on the U.S. stock market turnover list on Friday. It is worth mentioning that Twitter’s closing price on Friday was $40.72, which was far below Musk’s $54.20 takeover offer.
No. 3 Supermicro Inc (AMD.US) closed up 9.26% with a turnover of $12.94 billion. Citi analyst Christopher Danely reiterated his “neutral” rating on AMD.
No. 4 Nvidia (NVDA.US) closed up 9.47% with a turnover of $11.722 billion. On May 24, Nvidia will introduce the public to how AI is empowering data centers and unveil the latest products and technologies for gamers and content creators. It is reported that Nvidia is likely to release related products of the RTX 40 series by then, and more information will be revealed even if it is not released.
No. 5 Amazon (AMZN.US) closed up 5.73% with $10.436 billion. Amazon is reportedly planning to invest about $11.8 billion to build five more large data centers in the U.S. suburbs of Oregon, as part of the company’s ongoing plans to expand and improve its AWS services. The specific construction plan will be implemented in the next 4-5 years, the first one is expected to be completed by the end of 2023, and the last one will be completed in early 2027.
Amazon expects each data center to cost about $2.37 billion, with $280 million for building construction, $140 million for supporting infrastructure such as power and thermal management systems, and $1.95 billion for data centers, according to government documents. the infrastructure itself.
No. 11 $Coinbase (COIN.US) $ closed 16% higher with $2.648 billion. According to reports, well-known investor Kathryn Wood is bullish on Bitcoin and has aggressively added Coinbase for two consecutive days this week.
Three funds from Casey Wood’s ARK invest bought nearly $30 million worth of Coinbase stock, when the cryptocurrency exchange’s shares fell about 30 percent after its first-quarter results missed analysts’ expectations. quarter.
On Thursday, Ark Investment Management bought another roughly $14 million worth of Coinbase stock, which rose 8.9 percent to close at $58.5 on Thursday. Before that, the stock had fallen 48% for five straight sessions.
No. 13 Shopify (SHOP.US) closed up 13.85% with $2.42 billion. Shopify CEO Toby Rutke said he had bought $10 million in the company’s stock.
The 18th place is $Affirm Holdings (AFRM.US)$ , known as the US version of “Huabei”. The stock closed up 31.43% and traded at $1.96 billion. Affirm Holdings’ third-quarter revenue of $355 million was up 54% year-over-year, beating market expectations of $344 million. GMV in the fiscal third quarter was $3.9 billion, up 73% year-on-year; total transaction volume increased to 10.5 million, up 162% year-on-year.
No. 19 Metaverse concept stock Roblox (RBLX.US) closed up 15.36% at $1.83 billion. The company’s first-quarter financial report showed that the average daily active users in the quarter reached 54 million, a year-on-year increase of 28% and a record high. Revenue was $630 million, down 3% year over year. After the earnings report, Benchmark lowered its price target to $21 from $45.
The following are the 20 most actively traded stocks on the U.S. stock market that day (by turnover):
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