LI AUTO(US:LI) citic securities·2025-06-09 05:17Economic Indicators - In May 2025, the U.S. added 139,000 non-farm jobs, exceeding the forecast of 126,000, while the unemployment rate remained stable at 4.2%[6] - The job vacancy rate has returned to pre-pandemic levels, indicating limited "buffer" for the labor market, which may lead to a faster increase in the unemployment rate[6] Market Reactions - U.S. stock markets surged, with the Dow Jones rising 443 points (1.05%) to close at 42,762 points, and the S&P 500 gaining 1.03% to 6,000 points, following positive employment data[10] - The European stock markets experienced slight gains, supported by the U.S. employment growth and an upward revision of the Eurozone's Q1 GDP to 0.6%[10] Currency and Commodity Trends - The U.S. dollar strengthened against major currencies, with the dollar index rising by 0.5%[28] - International oil prices increased, with NY crude oil up 1.9% to $64.58 per barrel, as concerns about demand suppression eased[28] Fixed Income Market - Following the employment data, U.S. Treasury yields rose by 9-13 basis points, indicating a sell-off in the bond market[5] - The 2-year Treasury yield increased to 4.03%, while the 10-year yield rose to 4.51%[31] Asian Market Performance - The A-share market showed mixed results, with the Shanghai Composite Index slightly up by 0.04% to 3,385 points, while the Shenzhen Component fell by 0.19%[17] - The Hong Kong market experienced declines, with the Hang Seng Index down 0.48% and the Hang Seng Tech Index dropping 0.63%[12] Sector Performance - In the U.S., all 11 sectors of the S&P 500 rose, with the energy sector leading gains, up nearly 2% due to improved oil demand outlook[10] - In Hong Kong, the materials sector gained 2.3%, while the information technology sector fell by 1.8%[13]