---
title: "The decline in June PMI has once again fueled expectations of two interest rate cuts, coupled with t"
description: "The decline in June PMI has once again fueled expectations of two interest rate cuts, coupled with the prospect of Trump possibly being elected (who likes to showcase stock market gains as political a"
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/22188770.md"
published_at: "2024-07-02T02:04:30.000Z"
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# The decline in June PMI has once again fueled expectations of two interest rate cuts, coupled with t

The decline in June PMI has once again fueled expectations of two interest rate cuts, coupled with the prospect of Trump possibly being elected (who likes to showcase stock market gains as political achievements), tech stocks in the U.S. market are rising again.

However, the latest distribution of gains is quite interesting: two pro-cyclical advertising stocks in the tech sector—Google and Meta—are seeing sluggish stock price gains because the root of the current economic slowdown lies in consumer (to C) spending. Meanwhile, Amazon continues to rise due to the launch of its semi-managed services and the support of its cloud business.

As for the two companies with slightly larger gains—Apple and Tesla—Dolphin Research tends to attribute this to the spread of AI to the device side. Especially Tesla, whose Q2 sales are bound to be weak. However, after resolving Elon Musk's compensation issue, Tesla has recently returned to the AI concept track, from autonomous driving to robotics, continuously injecting AI valuation into its stock.

### Related Stocks

- [GOOG.US - Alphabet - C](https://longbridge.com/en/quote/GOOG.US.md)
- [AMZN.US - Amazon](https://longbridge.com/en/quote/AMZN.US.md)
- [TSLA.US - Tesla](https://longbridge.com/en/quote/TSLA.US.md)
- [TSLL.US - Direxion Daily TSLA Bull 2X Shares](https://longbridge.com/en/quote/TSLL.US.md)
- [GOOGL.US - Alphabet](https://longbridge.com/en/quote/GOOGL.US.md)
- [AAPL.US - Apple](https://longbridge.com/en/quote/AAPL.US.md)
- [META.US - Meta Platforms](https://longbridge.com/en/quote/META.US.md)
- [IDRV.US - iShares Self-Driving EV&Tech ETF](https://longbridge.com/en/quote/IDRV.US.md)
- [DRIV.US - Global X Autonomous & Electric V](https://longbridge.com/en/quote/DRIV.US.md)
- [DJTWW.US - Trump Media & Tech - CW28](https://longbridge.com/en/quote/DJTWW.US.md)

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.