NASDAQ 16,735(-0.01%) 10-year U.S. bond interest rate 4.503% (-1.05%)

closing of the United States

#PCE #SellingSleeves #DELL

NASDAQ 16,735(-0.01%)
10-year U.S. bond interest rate 4.503% (-1.05%)
USD Index 104.611p (-0.12%) NDF 1,381 KRW (-3 KRW)

Although PCE indicators for April met expectations, the market was mixed as consumer indicators remained sluggish. The Dow and S&P 500 rose sharply, but the Nasdaq remained flat due to sluggish technology stocks.

In April, the PCE price index rose 0.3% month-on-month and 2.7% year-on-year, in line with market expectations, the same as in March. The core PCE rose 0.2%, slightly down from 0.3% the previous month. Although it met expectations, the Nasdaq Composite dropped to 1.7% in early trading on the assessment that it was still high. The inflow of low-priced purchases late in the market rebounded flat. The Nasdaq composite faltered as Nvidia fell for two consecutive days, but the Dow succeeded in reversing its gains as Salesforce, which plunged the previous day, rebounded sharply to the 7% range.

In terms of characteristic stocks, Dell computers plunged 17%. Recently, it was the second-hot stock after Nvidia when it came to artificial intelligence, but in its earnings report, it plunged as the AI server backlog was smaller than expected. AI-related stocks SMCI also closed 5% lower.

Personal consumer spending rose 0.2% month-on-month in April, falling sharply from a 0.7% estimate the previous month. Even consumption slowed amid falling prices, making it more likely for the Fed to cut interest rates. Treasury yields fell sharply for the second straight day, and the dollar also turned weaker.

In May, the Nasdaq Composite rose 6.9%. It showed a significant rise above the April adjustment. Nvidia's rise was the main one. In June, there is Nvidia's face split. There is also a high possibility of a rate cut in the Eurozone. Let's hope that the KOSPI index, which has fallen despite its good performance, will rebound in June.