On Friday, July 5th, the positive June non-farm payrolls data in the United States lowered expectations for interest rate cuts, leading to a rise in the Nasdaq, with the S&amp;P 500 and Dow Jones following suit.
The tech-heavy Nasdaq, after setting new closing highs for three consecutive days, continued to rise, with an intraday increase of 110.8 points or 0.6%; the S&amp;P 500 initially opened higher but turned lower, with the decline expanding to nearly 0.1% before slightly rebounding; the Dow Jones, dominated by blue-chip stocks, also turned higher, with the intraday decline deepening to 139 points or over 0.35% before rebounding.
Most star tech stocks rose. Major tech stocks surged, with &#34;metaverse&#34; Meta up by 3.7%, Google A up by 2.2%, Netflix up by over 1.8%, Apple up by over 1.7%, Microsoft up by over 1.3%, and Amazon up to 1.5%; however, Tesla, after seven consecutive days of gains, opened lower and saw a decline of 1.6% within 20 minutes, before rebounding and rising by over 2.4%.
Chip stocks had mixed performances. The Philadelphia Semiconductor Index and the industry ETF SOXX turned lower in early trading, with declines expanding to 0.46% and 0.38% respectively within the first 20 minutes of trading. NVIDIA plunged at the opening, with a decline of over 2%, and the NVIDIA double long ETF dropped by over 4% at one point. Arm Holdings surged by over 8%, AMD rose by nearly 4%, while Micron Technology fell by over 4%.
On the news front, some analysts believe that today's employment report has &#34;contradictions.&#34; On one hand, the non-farm data boosted expectations of a rate cut in September, leading to a rise in the U.S. stock market. However, the data also showed signs of a softening U.S. economy, causing market concerns.
AI concept stocks had mixed performances. Palantir rose by over 5.3%, while Dell Technologies fell by over 2.8%.
Popular Chinese concept stocks underperformed the U.S. market. The ETF KWEB saw its decline expand by over 3%, CQQQ fell by over 3.5%, and the Nasdaq Golden Dragon China Index (HXC) dropped by over 2.7%.
Popular individual stocks generally fell, with new energy vehicle companies plummeting, as XPeng fell by over 10.6%, ZEEKR by over 8%, Nio by over 9.3%, and Li Auto by over 3.2%; in addition, JD.com fell by over 2.7%, Pinduoduo by over 3%, Baidu by over 2.4%, and Tencent Holdings (ADR) by 1.5%.
Retail investors remained enthusiastic about certain stocks. Gaussin Electronics saw its increase exceed 74%.
The following is the update before 21:50 Beijing time
June U.S. non-farm payrolls increased by 206,000, significantly exceeding the expected 190,000, but still a significant decrease from the previous 272,000;
The total number of new jobs added in April and May decreased by 111,000 compared to the previous revision; the unemployment rate hit the highest level in two and a half years, indicating a cooling labor market, boosting expectations of interest rate cuts.
At the opening of the US stock market, the three major indexes showed mixed performance, with the Nasdaq rising by 0.07%, the S&amp;P 500 rising by 0.04%, and the Dow Jones falling by 0.04%.
At the time of writing, all three indexes are rising collectively.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/bffd48df-066c-4f16-ba6c-2e8030d5ab5a.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/bffd48df-066c-4f16-ba6c-2e8030d5ab5a.png"/>
In the tech sector, Tesla turned lower, dropping by over 1%, initially rising nearly 2%; TSMC rose by over 0.49%, while NVIDIA fell by over 1%.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ef34822a-2c2c-4bae-98e9-5db1321df04b.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ef34822a-2c2c-4bae-98e9-5db1321df04b.png"/>
Most popular Chinese concept stocks fell, with XPeng dropping by over 8%, Li Auto and NetEase falling by over 2%, Nio falling by over 7%, and Huya falling by over 3%.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/36b99e31-b59a-4495-af4b-021b5e003015.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/36b99e31-b59a-4495-af4b-021b5e003015.png"/>
<h2>US Treasury Yields Decline Across the Board</h2>
The 10-year US Treasury yield fell by 4.6 basis points to 4.298%.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/22068ae3-d029-43b9-b540-e92210c3ccf4.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/22068ae3-d029-43b9-b540-e92210c3ccf4.png"/>
<h2>US Dollar Continues to Decline</h2>
The US dollar fell by 0.18% intraday to 104.94.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/42629b68-8a2d-4d2e-b763-268c2c7f6784.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/42629b68-8a2d-4d2e-b763-268c2c7f6784.png"/>
<h2>Gold, Silver, and Copper Rise Together</h2>
Spot gold continues to trade above $2370 per ounce, rising nearly 1% intraday; spot silver rose by over 1%, maintaining yesterday's high levels.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/125bc570-c511-4517-9528-fafc46fc6132.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/125bc570-c511-4517-9528-fafc46fc6132.png"/>
London copper futures are at $9969 per ton, previously breaking through the $10,000 mark.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/685fc6d5-68cd-40bd-b024-cd697c87a611.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/685fc6d5-68cd-40bd-b024-cd697c87a611.png"/>
<h2>Bitcoin's Decline Narrows</h2>
Bitcoin's decline narrowed to 2%, currently trading at $55,718 per coin, previously breaking below the $54,000 mark, falling to the lowest level in two months
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/2bbcc1b6-89b6-4edc-9bdf-b3d4da05f690.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/2bbcc1b6-89b6-4edc-9bdf-b3d4da05f690.png"/>

Nasdaq rose, S&P 500 turned higher, Dow Jones first fell and then rose; most of the "Seven Sisters" in the US stock market rose, NVIDIA fell by 2% at one point, Tesla opened higher but then fell by over 1%, and then rose again; chip stocks and AI concept stocks fluctuated differently; Chinese new energy vehicle startups plummeted, with XPeng once falling by over 10.6% and Nio by over 9.3%

- The U.S. stock market saw a rise on Friday, with the Nasdaq leading due to positive non-farm payroll data for June, while the S&P 500 and Dow also turned positive. Tech giants like Meta, Google, and Apple surged, but Tesla fluctuated after a seven-day rise. Chip stocks varied, with Nvidia dropping over 2% and Arm Holdings surging over 8%.
- Analysts noted conflicting points in the employment report, boosting September rate cut expectations but also signaling economic softness, causing market concerns. Popular Chinese stocks underperformed, with ETFs like KWEB and CQQQ dropping over 3%, while EV startups like XPeng and NIO plunged over 9%.
- Despite varied movements, major indices collectively rose, with Tesla dipping over 1% initially, and Chinese EV stocks like XPeng and NIO falling significantly. Bond yields fell, the dollar declined, and metals like gold and silver rose, while Bitcoin narrowed its losses to 2%.

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The US non-farm payroll data boosts expectations of interest rate cuts, with the Nasdaq leading the gains. The "Seven Sisters" surged, but NVIDIA fell by 2%, while XPeng Motors dropped by more than 10% at one point