On January 8, the U.S. stock market showed mixed performances among popular stocks, with top-trading companies each highlighting their unique strengths and challenges. Technology stocks remained the focal point of the market, while news in the cryptocurrency-related and consumer electronics sectors further stirred market sentiment.
NVIDIA Leads the Market, Focuses on CES Technology Launches
NVIDIA closed with a 3.43% increase, with a trading volume reaching $394.4 billion, placing it at the forefront in the U.S. market. The market held high expectations for CEO Jensen Huang’s speech at the Consumer Electronics Show (CES) in Las Vegas. Investors were particularly interested in announcements about the next-generation Blackwell chip, which is considered a key driver of NVIDIA's future growth. However, supply chain issues may slightly impact its launch timeline.
Franklin Investment Management Company stated that despite the challenges, the long-term demand for Blackwell chips remains strong, potentially reigniting market optimism about NVIDIA.
Tesla's Sales Fall Short of Expectations, Stock Price Stays Flat
Tesla ended with a modest 0.15% rise, trading at $349.5 billion, placing it second. Recent data showed Tesla's total sales for 2024 at 1.7892 million units, a 1.1% year-over-year decline, marking the first annual decline in over a decade. The fourth-quarter sales were 495,600 vehicles, below the market expectation of 503,300, with the main models, Model 3 and Model Y, also falling short. Nevertheless, investors remain cautiously optimistic about Tesla's long-term market performance.
Meta and AMD's Technological Innovations Attract Attention
Meta Platforms rose by 4.23%, with a trading volume of $89.53 billion, following news that the company will launch the next-generation Ray-Ban smart glasses featuring HUD screens. This AR device is expected to further strengthen Meta's position in the smart hardware field.
AMD similarly caught market attention, closing 3.33% higher, with a trading volume of $60.41 billion. The company unveiled its Zen 4 Ryzen 200/Pro series APU for mainstream laptops at CES, focusing on high performance and AI applications, showing its continued effort in the high-performance market.
Cryptocurrency Stocks Strong, Bitcoin Surpasses $100,000
Cryptocurrency-related stocks performed strongly. MicroStrategy rose 11.61%, with a trading volume of $96.31 billion, after announcing a $101 million additional Bitcoin purchase, along with plans to further raise capital through perpetual preferred stock. Coinbase also climbed 6.32%, with a $30.95 billion trading volume, as Bitcoin prices surpassed $100,000. The vibrant cryptocurrency market significantly boosted related stocks.
Other Highlights: Apple and TSMC Show Steady Performance
Apple rose 0.67%, trading at $103.76 billion, maintaining steady overall market performance despite facing user privacy lawsuits and paying $95 million in settlements.
TSMC increased by 5.46%, with a trading volume of $53.04 billion. Goldman Sachs released a report, stating that the company is likely to benefit from the growing demand in the AI sector and price increases at advanced process nodes, raising the target price to $254 and reiterating a "buy" rating.
Market Outlook: Technology and Macro Variables Drive Volatility
With the ongoing CES technology launches and the active cryptocurrency market, technology stocks and related sectors are expected to continue being the market focus. Investors should pay attention to the long-term impact of global macroeconomic conditions and technological innovations on the market.
