* The Nasdaq had six consecutive negative weeks, the first time in a decade

* U.S. nonfarm payrolls increased by 428,000 in April

*NIO plans to go public in Singapore

  The global stock market continued to fluctuate, and the US stock market bottomed out for a while, but it still failed to stop falling.

As of the close, the Dow fell 98.6 points, or 0.3%, to 32,899.4 points; the S&P 500 fell 23.5 points, or 0.6%, to 4,123.3 points; the Nasdaq closed at 12,144.7 points, down 173.0 points, or 1.4%.

  Technology stocks led the decline again. Amazon and Netflix closed down 1.4% and 3.9%, respectively, down 7.7% and 4.9% for the week; energy stocks rose against the trend, the S&P 500 energy sector rose 2.9%, and Chevron closed Up 2.7%, the best performing Dow component.

  Investors digested the Fed's first 50 basis point interest rate hike in 22 years. U.S. stocks have experienced a week of ups and downs. This week, the Dow Jones Industrial Average also recorded its best single-day performance and largest single-day decline since 2020.

  The Dow fell 0.2% for the week, the sixth consecutive weekly decline; the S&P 500 and the Nasdaq fell 0.2% and 1.5%;

the Nasdaq recorded five consecutive weekly negatives, the first time since 2012. November's all-time high is down a quarter.

  Barclays strategist Emmanuel Cau said in a report that the Fed's hawkishness after its meeting on interest rates on the 4th was not as hawkish as expected, causing US stocks and bond markets to experience a rebound for a time. The expected rebound is short-lived.

“While a 75 basis point rate hike may not be on the radar of Fed officials, we expect the Fed to remain very hawkish in the coming monetary tightening cycle. Unless the trend of soaring prices reverses quickly, This requires attention to CPI data coming out next week, otherwise central banks may have no choice but to cool inflation at the expense of slower growth.

  As for individual stocks, U.S. sportswear brand Under Armour tumbled 25.9% after its earnings report.

In the first quarter of this year, affected by rising costs and supply chain disruptions, the company unexpectedly recorded a loss of 1 cent per share. The market expected a profit of 6 cents per share. During the period, revenue was 1.3 billion US dollars, an increase of only 3% year-on-year.

In terms of sub-regions, revenue in North America increased by 4%, while revenue in Asia-Pacific fell significantly by 14%.

The company's full-year earnings guidance also missed expectations, with a forecast earnings per share range of 63 to 68 cents, compared with market expectations of 86 cents.

NIO plans to go public in Singapore

  Weilai Automobile announced on the 6th that it has obtained a conditional listing qualification letter for the secondary listing of the main board from the Singapore Exchange and will release the listing document this month.

  NIO announced that the listing will be by way of introduction, and its American depositary shares will continue to be listed and traded mainly on the New York Stock Exchange, while the Class A shares listed on the SGX can be listed on the New York Stock Exchange. Depositary shares are fully convertible.

In March this year, NIO just completed its secondary listing on the Hong Kong Stock Exchange.

After listing on the SGX, NIO will become the first electric vehicle company to be listed in New York, Hong Kong and Singapore.

US added 428,000 nonfarm payrolls in April

  On the 6th local time, the

U.S. Department of Labor announced the latest employment data. After a seasonal adjustment in April, non-agricultural employment increased by 428,000, which was better than the market expectation of 400,000 and

lower than the previous value of 428,000; the unemployment rate was unchanged at 3.6%, higher than expected. The labor force participation rate dropped slightly from 62.4% to 62.2%, the first decline since March 2021, and the gap between vacancies and available workers is currently about 5.6 million; average hourly wages rose 5.5% year-on-year, The month-on-month increase of 0.3% was lower than the expected value and the previous value of 0.4%.

  PNC Bank chief economist Gus Faucher commented that the demand for labor from enterprises is still very strong, the problem is the shortage of available workers, and the decline in the labor force participation rate in April may increase wage pressure.

  In terms of industries, the leisure and hotel industry still leads the increase in employment, with 78,000 new jobs. The unemployment rate in this industry dropped to 4.8%, the lowest since September 2019. At the beginning of the epidemic, the unemployment rate in this industry was In April 2020, it soared to a record high of 39.3%; in April, average hourly wages in the leisure and hospitality industry rose 0.6% from the previous month and 11% from a year earlier.

  In other industries, manufacturing added 55,000 jobs last month, transportation and warehousing added 52,000 jobs, and professional and business services added 41,000 jobs.

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