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Dow Jones Suffers Four Consecutive Declines! Chip Stocks like Intel Plunge, Google Soars Over 5% Despite Market Downturn. On December 10th, Eastern Time, the market is focusing on the upcoming release of the CPI, with all three major U.S. stock indices closing lower, and the Dow Jones having fallen for four consecutive days. Google, which released its latest chip, surged over 5% against the market trend. Oracle, a hot AI stock, plummeted by 6.68% due to its second-quarter revenue and guidance for the current quarter falling short of expectations.
All three U.S. stock indices closed lower, with the Dow Jones down for four consecutive days on December 10th, Eastern Time. The market is eyeing the upcoming CPI release to explore the inflation process and the path of the Federal Reserve’s monetary policy. At the close, the Dow Jones fell by 154.10 points, a decrease of 0.35%, closing at 44,247.83 points after four consecutive days of decline; the Nasdaq fell by 49.45 points, a decrease of 0.25%, closing at 19,687.24 points; the S&P 500 index fell by 17.94 points, a decrease of 0.30%, closing at 6,034.91 points. Chip stocks generally fell, with Micron Technology dropping nearly 5%, Broadcom and TSMC falling nearly 4%, Intel dropping over 3%, and Nvidia and Qualcomm falling nearly 3%.
In terms of investment strategy, a group of strategists led by Scott Chronert at Citigroup expects the S&P 500 index to target 6,500 points under the base scenario for next year, 6,900 points under the bull scenario, and 5,100 points under the bear scenario. Their base forecast is cautious compared to Wall Street, with other investment banks’ forecasts ranging from 6,400 to 7,000 points.
Google Soars Over 5% Despite Market Downturn. On December 10th, Eastern Time, Google’s parent company Alphabet (GOOGL) closed up 5.59%, marking the largest single-day gain since April 2024, at $185.17, with the latest market capitalization of $226.67 billion. In terms of news, Google unveiled its new quantum computing chip, Willow, which has caused a huge sensation in the global technology industry. It is said that this is a significant breakthrough in the field of quantum computing, an area considered the next technological frontier for many tech companies. Officially, this small chip can perform computational tasks that would take supercomputers billions of years in just five minutes.
Oracle, a hot AI stock, plummeted by 6.68% on December 10th, Eastern Time. In terms of news, Oracle’s second-quarter revenue and guidance for the current quarter fell short of expectations.
