Nvidia(US:NVDA) Mei Ri Jing Ji Xin Wen·2025-05-02 23:27Market Performance - US stock market opened higher on May 2, with all three major indices closing up over 1%. The Nasdaq rose by 1.51%, the S&P 500 increased by 1.47%, and the Dow Jones gained 564.47 points, a rise of 1.39%. Notably, both the S&P 500 and Dow Jones have seen nine consecutive days of gains, marking the longest streak for the S&P 500 since 2004 [1]. Technology Sector - Most large tech stocks saw gains, with Meta rising over 4%, Intel up more than 3%, and Tesla, Microsoft, Nvidia, and Netflix each increasing by over 2%. However, Apple experienced a decline of over 3%, and Amazon saw a slight drop [2]. - Nvidia's market capitalization increased by $70.5 billion (approximately 51.26 billion RMB) in a single night [3]. Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 3.5%, with many Chinese concept stocks also experiencing significant gains. Notable increases included: - 9% rise for GDS Holdings and Kingsoft Cloud - Over 7% increase for Tencent Music - More than 6% for Qihoo 360 Technology - Over 5% for XPeng Motors, BOSS Zhipin, Zeekr, and Futu Holdings [6]. ETF Performance - The Direxion Daily FTSE China Bull 3X Shares ETF surged over 9% [9]. Employment Data - The US Labor Department reported that non-farm payrolls increased by 177,000 in April, significantly exceeding the expected 130,000. The unemployment rate remained stable at 4.2%, aligning with market expectations. This robust employment data suggests resilience in the US job market [14]. - Following the employment report, the probability of the Federal Reserve maintaining interest rates unchanged in May rose to 99.4%, up from 95.3% prior to the report [14]. Federal Reserve Outlook - Analysts noted that the strong labor market data provides the Federal Reserve with the patience to hold off on rate cuts, although there are concerns about potential economic weakness later in the year [15].