Sou Hu Cai Jing·2025-06-10 12:46Market Overview - The three major U.S. stock indices showed mixed performance, with the S&P 500 maintaining above the key psychological level of 6000 points, closing at 6005.88 points [1][2] - The Nasdaq Composite Index performed the best, rising by 0.31% to 19591.24 points, continuing the rebound trend from the previous week [1][3] - The Dow Jones Industrial Average was nearly flat, with a slight decline of 1.11 points, reflecting a complex market sentiment near historical highs [2][3] Sector Performance - Technology stocks led the market, with Tesla surging over 4%, Intel rising more than 2%, and both Google and Amazon increasing by over 1% [1][4] - However, Apple experienced a decline of 1.21% despite the highly anticipated Worldwide Developers Conference (WWDC) taking place [5][9] - eVTOL (electric vertical takeoff and landing) stocks saw significant gains, driven by policy support, with Vertical Aerospace rising over 15% and Joby Aviation increasing by more than 13% [5] Economic and Market Sentiment - Market sentiment is supported by two main factors: positive developments in U.S.-China trade negotiations and resilience in the job market [6][8] - The first meeting of the U.S.-China trade negotiation mechanism took place on June 9 in London, alleviating concerns about trade tensions [7] - Recent non-farm payroll data showed an increase of 139,000 jobs, exceeding market expectations, which helped ease fears of an imminent economic slowdown [8] Individual Stock Dynamics - Apple showcased significant upgrades at the WWDC, but the market reaction was lukewarm, leading to a year-to-date decline of over 18% in its stock price [9] - Tesla's stock rebounded over 4%, partly driven by retail investors buying the dip after experiencing its largest weekly decline of 2023 [10] - Meta Platforms is reportedly negotiating a multi-billion dollar investment in AI data annotation startup Scale AI, marking its largest external AI investment to date [10] Institutional Outlook - Morgan Stanley's June report presents an optimistic outlook for U.S. equities, projecting the S&P 500 index to reach a target price of 6500 points within 12 months [11] - The firm suggests overweighting in financial, energy, and utility sectors while maintaining a neutral stance on technology and healthcare [11][12] - Market expectations indicate that the Federal Reserve will likely remain on hold during the summer meetings, with a less than 75% probability of a 25 basis point rate cut in September [14]