Can we still increase it by another 30%?, Gold diving in response! Apple's stock price has reached a new high, exceeding expectations! US Q1 GDP Final Value Announced by Vipshop | Tencent | Dive

The data released on Thursday showed that the US gross domestic product in the first quarter significantly increased to an annual rate of 2%. Compared to the initial estimate of 1.3%, it indicates a stronger signal of economic growth, and market concerns about an economic recession have weakened. After a series of data releases in the United States, market expectations for the Federal Reserve to raise interest rates twice more this year have rapidly increased.

Bank stocks rose overall, with Western Pacific Bank of America and Goldman Sachs up more than 3%, Bank of America up more than 2%, Morgan Stanley, First Horizon Bank, and National Bank of America up more than 1%. Bank of Hawaii, BlackRock, Western Bank of Alains, and Citigroup also rose slightly.

Popular Chinese concept stocks generally fell, with the Nasdaq China Golden Dragon Index falling 1.58%. Baidu fell more than 5%, Bilibili, Tencent Music, Ideal Automobile, Vipshop, and JD.com fell more than 2%, iQiyi, NIO, and Alibaba fell more than 1%, while Weibo and Futu Holdings fell slightly. NetEase rose more than 1%, while Xiaopeng Motors saw a slight increase.

The final value of GDP in the first quarter of the United States exceeded expectations, and gold jumped in response

The data released on Thursday showed that the US gross domestic product in the first quarter significantly increased to an annual rate of 2%. Compared to the initial estimate of 1.3%, it indicates a stronger signal of economic growth, and investors' concerns about economic recession have weakened.

According to a report from the US Department of Commerce, the growth in real GDP in the first quarter was mainly due to strong consumer spending, particularly in goods and services. The report stated that consumer spending on durable goods increased by 16.3%, and overall, consumer spending increased by 4.2%, higher than market expectations of 3.8%.

In terms of inflation, the actual quarterly personal consumption expenditure rate in the first quarter of the United States was 4.2%, expected to be 3.8%, and the previous value was 3.8%. The personal consumption expenditure price index, excluding food and energy, rose 4.9% in the first quarter.

According to data from the US Department of Labor, the number of initial jobless claims for the week ending June 25th, after seasonal adjustments, was 239000, with an expected 265000, compared to the previous value of 264000. Last week, the number of initial jobless claims in the United States unexpectedly decreased, indicating a sustained strengthening of the job market.

Some economists believe that a higher number of initial jobless claims than 280000 indicates a significant slowdown in employment growth. Compared to historical standards, the number of people renewing unemployment benefits is at a lower level, indicating that some unemployed individuals are experiencing a shorter period of unemployment. The job market remains strong, helping to boost the economy in the first quarter as consumer spending accelerates, offsetting the drag from a significant slowdown in corporate inventory investment.

After a series of data releases in the United States, market expectations for the Federal Reserve to raise interest rates twice more this year have rapidly increased. In fact, Federal Reserve Chairman Powell just released a signal that there may be two consecutive interest rate hikes this year.

Bond traders believe that the likelihood of the Federal Reserve raising interest rates twice this year has increased compared to before the data was released, and the possibility of the Federal Reserve turning to rate cuts within this year is unlikely.

Former Federal Reserve Regional Chairman Kaplan stated that if service sector inflation remains stubborn, the Federal Reserve may be forced to raise interest rates three more times and then maintain borrowing costs at high levels for a longer period than many investors expected.

Affected by strong economic data from the United States, COMEX gold plummeted nearly $20 per ounce after the data was released, and the decline subsequently narrowed. In addition, after the data was released, the yield of US treasury bond bonds of various maturities rose to varying degrees, and the US dollar also strengthened in response.

Apple's market value approaching $3 trillion Citigroup: raising target price to $240

As of the close of the day, the Dow Jones index rose 0.80% to 34122.42 points; The S&P 500 index rose 0.45% to close at 4396.44 points; The Nasdaq Composite Index fell 0.01% to close at 13591.33 points.

Most of the 11 sectors in the S&P 500 index closed higher, with the financial sector up 1.67%, the raw materials sector up 1.27%, the energy sector up 1.11%, the industrial and real estate sector up about 0.9%, the information technology/technology sector up over 0.13%, and the telecommunications services sector down 0.63%.

Large tech stocks saw mixed gains and losses, with Meta falling more than 1%, Nvidia falling 0.72%, Amazon falling 0.88%, Micron Technology falling 4%, and Netflix, Google, and Microsoft falling slightly; Ericsson rose more than 3%, Texas Instruments rose more than 1%, Chaowei Semiconductor rose nearly 1%, and Tesla rose slightly by 0.49%.

Apple rose 0.18% to $189.6, with a cumulative increase of over 46% this year, setting a new record high closing price and its market value approaching $3 trillion. Citigroup raised its target stock price for Apple to $240 on Thursday, an increase of nearly 30% compared to the current stock price.

According to Tesla China's official website, the domestic delivery time for the Tesla Model Y rear wheel drive, long endurance, and high-performance versions has been extended to 2-6 weeks. Previously, the delivery time for the Model Y rear wheel drive and long endurance versions was 2-5 weeks, while the delivery time for the high-performance version was 1-4 weeks.

Bank stocks rose overall, with Western Pacific Bank of America and Goldman Sachs up more than 3%, Bank of America up more than 2%, Morgan Stanley, First Horizon Bank, and National Bank of America up more than 1%. Bank of Hawaii, BlackRock, Western Bank of Alains, and Citigroup also rose slightly. Previously, the Federal Reserve released a report stating that all 23 US banks participating in its annual stress tests were able to withstand the test of a severe economic recession.

Energy stocks generally rose, with US energy up more than 3%, Western Petroleum, ExxonMobil, and Brazilian Petroleum up more than 2%. Chevron, ConocoPhillips, Murphy, Shell, and BP all saw varying degrees of gains. International oil prices rose on the 29th. As of the close of the day, the price of light crude oil futures for August delivery on the New York Mercantile Exchange increased by 0.30 US dollars, closing at 69.86 US dollars per barrel, an increase of 0.43%; The price of London Brent crude oil futures for August delivery increased by $0.31 to close at $74.34 per barrel, an increase of 0.42%.

According to documents from the US Securities and Exchange Commission, Berkshire Hathaway, a subsidiary of Buffett, invested $120 million to increase its holdings of 2.14 million shares in Western Oil from June 26th to 28th, increasing its stake in Western Oil to over 25%. Berkshire Hathaway also holds approximately $9.5 billion in Western Oil preferred shares with a dividend yield of 8%, as well as warrants worth $5 billion worth of Western Oil shares at a price of $59.62 per share.

Popular Chinese concept stocks generally fell, with the Nasdaq China Golden Dragon Index falling 1.58%. Baidu fell more than 5%, Bilibili, Tencent Music, Ideal Automobile, Vipshop, and JD.com fell more than 2%, iQiyi, NIO, and Alibaba fell more than 1%, while Weibo and Futu Holdings fell slightly. NetEase rose more than 1%, while Xiaopeng Motors saw a slight increase.