Nasdaq rebounded, Nvidia rose 2.5%, Morgan Stanley dragged down Dow Jones, Li Auto fell nearly 13% after earnings, and gold and copper hit new historical highs

Wallstreetcn
2024.05.20 23:00
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Nasdaq hit a historic high, while Dow fell from a record high, with constituent stock Morgan Stanley dropping by 4.5%; chip stocks rose by over 2%, outperforming the market, with Micron rising by 3%; Microsoft rebounded to a more than one-month high, while Google hit a record high for the fourth consecutive day; retail investors rallied together, with GameStop falling by over 10% intraday but closing up by over 4%; after launching low-priced weight loss drugs, Hims closed up nearly 28%; Chinese concept stocks fell by over 1%, halting a three-day rally, Haidilao dropped by over 6% on the second day of listing, Nio fell by over 1%, while ZEEKR rose by over 4%. Federal Reserve officials turned hawkish, with U.S. bond yields rising for three consecutive days, the U.S. dollar index accelerating its rebound intraday, moving away from a five-week low. Offshore Renminbi fell by over a hundred points intraday, breaking below 7.24. Bitcoin rose by over $4,000 intraday, breaking through the $70,000 mark, while Ethereum rose by nearly 20% intraday. Crude oil ended a three-day rally, bidding farewell to highs within the month. New York gold and copper futures hit record closing highs for two consecutive days, with copper futures rising by nearly 3% intraday, and silver futures hitting an eleven-year high for the fourth consecutive day