U.S. time on Friday, U.S. stocks closed mostly down.U.S. nonfarm payrolls data for July far exceeded expectations, reinforcing expectations that the Federal Reserve will continue to raise interest rates sharply to curb inflation.
The Dow Jones closed at 32,803.47 points, up 76.65 points, or 0.23%; the S&P 500 closed at 4,145.19 points, or 0.16%; the Nasdaq closed at 12,657.55 points, or 0.50%%.
Big tech stocks fell broadly, with Meta down more than 2%, Amazon and Netflix down more than 1%, and Apple, Google and Microsoft all down less than 1%.
Chip leading stocks generally fell, among which Micron fell more than 3%, Nvidia, ASML, AMD and Applied Materials fell more than 1%, TSMC bucked the trend and rosemore than 1%.
Electric vehicle stocks generally fell, Tesla fell 6.63%, Rivian fell 1.41%, Faraday Future fell 1.81%; Weilai fell 3.25%, Xiaopeng fell 3.15%, Ideal fell 2.01%.
Zhongqing e-commerce stocks generally fell, with Alibaba down 5.00%, Jingdong down 2.27%, and Pinduoduo down 1.97%.
Other popular Chinese concept stocks generally fell, among which Manbang fell 6.87%, BOSS Zhipin fell 6.56%, Zhihu fell 2.24%, Autohome fell 1.76%, Bilibili fell1.64%, Baidu fell 1.61%, and Ctrip fell 1.04%.
AMTD Digital closed at US$721.23, down 9.85%, with a market value of US$133.46 billion, which has evaporated by about US$177.2 billion from its peak.
Specifically, the major technology stocks in the US stock market performed as follows:
The major chip stocks in the US stock market performed as follows:
The performance of major Chinese stocks listed in the US is as follows:
The U.S. Labor Department reported Friday that the U.S. non-farm sector added 528,000 jobs in July, far exceeding the consensus estimate of 258,000.The U.S. unemployment rate fell to 3.5 percent in July, the lowest level since the late 1960s, while average hourly earnings rose 15 cents to $32.27.
Earlier, a number of prominent U.S. companies announced layoffs, raising concerns that the nation's strong job market may be softening.
Friday's jobs data sparked a sharp rise in U.S. Treasury yields and stocks opened lower as investors expected the Federal Reserve to raise interest rates further.
Some analysts believe the strong jobs data reinforces the view that the U.S. economy can withstand aggressive monetary tightening by the Federal Reserve without slipping into recession.Meanwhile, sharp falls in commodity prices, including oil, further supported the idea that U.S. inflation may be nearing a peak.
Peter Essele, director of portfolio management at investment firm Commonwealth Financial Network, said: "Today's jobs report shows that the economy is growing across all sectors and the economy is clearly going full steam ahead.The release of this data should quiet down the bears who have been clamoring for a recession in recent days.”
This week, the Dow fell slightly by 0.1%, the SSI gained 0.4%, and the tech-heavy Nasdaq gained 2.2%.According to Dow Jones Market Data, the Nasdaq and the S&P rose for the third straight week, while the Dow rose for the second straight week.