--- title: "Overnight, the three major U.S. stock indices had mixed results, with the Dow Jones Industrial Average slightly down 0.16%, while the S&P 500 and NASDAQ rebounded by 0.30% and 0.86%, respectively. After digesting the unexpectedly strong non-farm payroll data, chip stocks experienced a technical recovery, with the Philadelphia Semiconductor Index soaring 5.61%, led by gains in Micron Tech and Intel. The NASDAQ Golden Dragon China Index closed down 0.62%, showing a divergent pattern internally. New energy vehicle manufacturers performed strongly, with Pony AI rising over 3% and Li Auto up more than 2%; however, some e-commerce and new energy stocks faced pressure, with PDD and Daqo New Energy leading the declines as funds opted for selective risk aversion amid macroeconomic uncertainties. London spot gold briefly fell below the key level of $4,300, effectively erasing its gains for the year. Strong employment data pushed up U.S. Treasury yields and the dollar index, diminishing the appeal of non-yielding assets. The market is closely watching the upcoming May CPI data and signals from the Federal Reserve's interest rate meeting this week. Looking ahead, Morgan Stanley characterized the recent market volatility as a \"healthy adjustment,\" believing that the fundamentals have not fundamentally reversed. Goldman Sachs cautioned that if subsequent inflation data continues to exceed expectations, it could further strengthen the narrative for interest rate hikes, exacerbating valuation pressures on growth stocks and gold. Related ETFs: Global Tech Leaders: NASDAQ ETF Hua Xia (513300) U.S. Core Broad Market: S&P 500 ETF Hua Xia (159655) Tracking Gold Price Performance: Gold ETF Hua Xia (518850)" type: "News" locale: "en" url: "https://longbridge.com/en/news/289118736.md" description: "Overnight, the three major U.S. stock indices had mixed performances, with chip stocks leading the gains. Chinese concept stocks showed divergence, with new energy vehicle manufacturers strengthening. Gold fell below the $4,300 mark, influenced by strong employment data and rising U.S. Treasury yields. The market is focused on the May CPI and the Federal Reserve's movements. Morgan Stanley believes the volatility is a healthy adjustment, while Goldman Sachs warns that inflation exceeding expectations may exacerbate valuation pressures" datetime: "2026-06-09T01:25:41.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289118736.md) - [en](https://longbridge.com/en/news/289118736.md) - [zh-HK](https://longbridge.com/zh-HK/news/289118736.md) --- # Overnight, the three major U.S. stock indices had mixed results, with the Dow Jones Industrial Average slightly down 0.16%, while the S&P 500 and NASDAQ rebounded by 0.30% and 0.86%, respectively. After digesting the unexpectedly strong non-farm payroll data, chip stocks experienced a technical recovery, with the Philadelphia Semiconductor Index soaring 5.61%, led by gains in Micron Tech and Intel. The NASDAQ Golden Dragon China Index closed down 0.62%, showing a divergent pattern internally. New energy vehicle manufacturers performed strongly, with Pony AI rising over 3% and Li Auto up more than 2%; however, some e-commerce and new energy stocks faced pressure, with PDD and Daqo New Energy leading the declines as funds opted for selective risk aversion amid macroeconomic uncertainties. London spot gold briefly fell below the key level of $4,300, effectively erasing its gains for the year. Strong employment data pushed up U.S. Treasury yields and the dollar index, diminishing the appeal of non-yielding assets. The market is closely watching the upcoming May CPI data and signals from the Federal Reserve's interest rate meeting this week. Looking ahead, Morgan Stanley characterized the recent market volatility as a "healthy adjustment," believing that the fundamentals have not fundamentally reversed. Goldman Sachs cautioned that if subsequent inflation data continues to exceed expectations, it could further strengthen the narrative for interest rate hikes, exacerbating valuation pressures on growth stocks and gold. Related ETFs: Global Tech Leaders: NASDAQ ETF Hua Xia (513300) U.S. Core Broad Market: S&P 500 ETF Hua Xia (159655) Tracking Gold Price Performance: Gold ETF Hua Xia (518850) Overnight, the three major U.S. stock indices had mixed performances, with the Dow Jones Industrial Average slightly down by 0.16%, while the S&P 500 and NASDAQ rebounded by 0.30% and 0.86%, respectively. After digesting the unexpectedly strong non-farm payroll data, chip stocks experienced a technical recovery, with the Philadelphia Semiconductor Index soaring by 5.61%, led by gains in Micron Tech and Intel. The NASDAQ Golden Dragon China Index closed down by 0.62%, showing a divergent internal pattern. New energy vehicle manufacturers performed strongly, with Pony AI rising over 3% and Li Auto increasing by more than 2%; however, some e-commerce and new energy stocks faced pressure, with PDD and Daqo New Energy leading the declines as funds opted for selective risk aversion amid macroeconomic uncertainties. London spot gold briefly fell below the key level of $4,300, effectively erasing its gains for the year. Strong employment data pushed up U.S. Treasury yields and the dollar index, diminishing the appeal of non-yielding assets. The market is closely watching the upcoming May CPI data and signals from the Federal Reserve's meeting this week. Looking ahead, Morgan Stanley characterized the recent market volatility as a "healthy adjustment," believing that the fundamentals have not fundamentally reversed. Goldman Sachs cautioned that if subsequent inflation data continues to exceed expectations, it could further strengthen the narrative for interest rate hikes, exacerbating valuation pressures on growth stocks and gold. Related ETFs: Global Tech Leaders: NASDAQ ETF China (513300) Core U.S. Broad Market: S&P 500 ETF China (159655) Tracking Gold Price Performance: Gold ETF China (518850) ### Related Stocks - [PDD.US](https://longbridge.com/en/quote/PDD.US.md) - [DQ.US](https://longbridge.com/en/quote/DQ.US.md) - [04335.HK](https://longbridge.com/en/quote/04335.HK.md) - [02026.HK](https://longbridge.com/en/quote/02026.HK.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [PONY.US](https://longbridge.com/en/quote/PONY.US.md) - [.HXC.US](https://longbridge.com/en/quote/.HXC.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [688303.CN](https://longbridge.com/en/quote/688303.CN.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [SDOW.US](https://longbridge.com/en/quote/SDOW.US.md) - [ONEQ.US](https://longbridge.com/en/quote/ONEQ.US.md) - [QID.US](https://longbridge.com/en/quote/QID.US.md) - [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md) - [PSQ.US](https://longbridge.com/en/quote/PSQ.US.md) - [QLD.US](https://longbridge.com/en/quote/QLD.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [QQQE.US](https://longbridge.com/en/quote/QQQE.US.md) - [QQEW.US](https://longbridge.com/en/quote/QQEW.US.md) - [SH.US](https://longbridge.com/en/quote/SH.US.md) - [QQQM.US](https://longbridge.com/en/quote/QQQM.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MUYY.US](https://longbridge.com/en/quote/MUYY.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) - [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md) - [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [SSO.US](https://longbridge.com/en/quote/SSO.US.md) - [DOG.US](https://longbridge.com/en/quote/DOG.US.md) - [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md) - [SPXU.US](https://longbridge.com/en/quote/SPXU.US.md) - [DIA.US](https://longbridge.com/en/quote/DIA.US.md) - [DDM.US](https://longbridge.com/en/quote/DDM.US.md) - [UDOW.US](https://longbridge.com/en/quote/UDOW.US.md) - [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md) - [KPDD.US](https://longbridge.com/en/quote/KPDD.US.md) - [159655.CN](https://longbridge.com/en/quote/159655.CN.md) - [518850.CN](https://longbridge.com/en/quote/518850.CN.md) - [INTW.US](https://longbridge.com/en/quote/INTW.US.md) - [PDDL.US](https://longbridge.com/en/quote/PDDL.US.md) - [GOLD.AU](https://longbridge.com/en/quote/GOLD.AU.md) - [513300.CN](https://longbridge.com/en/quote/513300.CN.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [IVV.US](https://longbridge.com/en/quote/IVV.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [UUP.US](https://longbridge.com/en/quote/UUP.US.md) - [LI.US](https://longbridge.com/en/quote/LI.US.md) - [02015.HK](https://longbridge.com/en/quote/02015.HK.md) - [MS.US](https://longbridge.com/en/quote/MS.US.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [MS-O.US](https://longbridge.com/en/quote/MS-O.US.md) - [MS-Q.US](https://longbridge.com/en/quote/MS-Q.US.md) - [MS-E.US](https://longbridge.com/en/quote/MS-E.US.md) - [MS-I.US](https://longbridge.com/en/quote/MS-I.US.md) - [MS-L.US](https://longbridge.com/en/quote/MS-L.US.md) - [MS-P.US](https://longbridge.com/en/quote/MS-P.US.md) - [MS-A.US](https://longbridge.com/en/quote/MS-A.US.md) - [MS-F.US](https://longbridge.com/en/quote/MS-F.US.md) - [MS-K.US](https://longbridge.com/en/quote/MS-K.US.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) ## Related News & Research - [LIVE MARKETS-Wall Street's bull run appears intact, big brokers say](https://longbridge.com/en/news/289052197.md) - [ROI-The AI rally may have finally met its match - the Fed: McGeever](https://longbridge.com/en/news/289111237.md) - [Gold’s near-term outlook remains bearish, chart shows](https://longbridge.com/en/news/289117638.md) - [Comex gold settles 1.75% lower at $4260.00](https://longbridge.com/en/news/289228195.md) - [Comex gold settles 0.03% lower at $4335.90](https://longbridge.com/en/news/289089036.md)