NASDAQ 17,857(+0.95%) 10-year U.S. bond interest rate 4.285 percent

2024. 06. 18. 5 mins closing in the U.S

#Report #AIBigTech #Tesla #FSD

NASDAQ 17,857(+0.95%)
10-year U.S. bond interest rate 4.285 percent (+1.40 percent)
Dollar Index 105.318p (-0.18%) NDF 1,380 won (-1)

The Nasdaq and S&P 500 indexes have been on a daily record. Major tech stocks have been strong, pushing the Nasdaq close to the 18,000 mark. The majority of tech stocks have risen sharply, except Nvidia closed 0.8% lower on excessive upside. Broadcom, which had been on a double-digit rise since the split in face value, has jumped an additional 6% and Intel has jumped 5% reflecting its HBM competitiveness. The stock market is hitting new highs every day thanks to gains from major semiconductor companies such as Qualcomm and ASML.

Tesla rose around 5% on news that it had received approval for testing FSD in Shanghai, China. Musk's compensation plan also went well at the general shareholders' meeting and is good news to expand its presence in China. But despite all the positive news, Tesla's rebound has been only a temporary boost. Technology stocks are so strong that they can't seem to be able to afford to distribute power to future cars.

The target stock price of the S&P 500 has also been raised day after day. Goldman Sachs raised its target price for the S&P 500 from 5,200 to 5,600 at the end of the year. This is the third increase this year. Evercore ISI has raised its target price sharply to 6,000 from its year-end forecast of 4,750. It predicted that it could reach 6,500 if the bull market opens up, and I'm sure I'll do this.

Bond markets have seen a slight rebound in interest rates. Some profit-taking appears to be coming from the big rate drop last week. With no particular macro event except for retail sales that are announced tonight, bond markets may become ambiguous to take a clear direction. If PCE comes out low next week, the rally in bond markets could last again.

Stocks and bonds invested during a hard time at the end of April are paying off in a month. It's a Goldilocks market where stocks are rising and bonds are rising. I hope you have a good day today.