Nvidia(US:NVDA) citic securities·2025-05-29 04:25Market Overview - A-shares experienced a five-day decline, with the Shanghai Composite Index closing at 3,339 points, down 0.02%[19] - The Hang Seng Index fell 0.53% to 23,258 points, while the KOSPI in South Korea rose 1.2% to 2,670 points[24] - U.S. markets saw all three major indices decline, with the Dow Jones down 0.58% at 42,098.7 points and the S&P 500 down 0.56% at 5,888.6 points[12][8] Economic Indicators - Global economic growth is expected to continue its downward trend in the second half of 2025, with inflation becoming a key variable due to tariffs potentially causing a rebound in U.S. CPI[6] - The Federal Reserve is anticipated to lower interest rates no more than twice this year, with a possible cut in September[6] Commodity and Currency Trends - Oil prices rebounded over 1%, with WTI crude oil rising to $61.84 per barrel and Brent crude to $64.90 per barrel[30] - The U.S. dollar index increased by 0.4%, while gold prices slightly declined, reflecting a cautious market sentiment[30][29] Corporate Earnings - NVIDIA reported Q1 revenue of $44.1 billion, exceeding expectations and showing a 69% year-over-year increase, with data center revenue up 73%[10] - Baidu's cloud business showed strong growth, although its online advertising faced challenges during the AI transition[10] Investment Recommendations - Investors are advised to focus on trading opportunities across various asset classes amid high volatility, with a preference for gold over copper and oil[6] - The technology sector, particularly companies involved in AI, is expected to be a key investment theme in the latter half of 2025[17]