In the early morning of January 28 Beijing time, US stocks showed a clear divergent trend. The Dow Jones Industrial Average fell 408.99 points, or 0.83%, the Nasdaq Composite Index rose 215.74 points, or 0.91%, and the S&P 500 Index gained 0.41%, hitting an all-time high of 6,988.82 points intraday. Technology stocks led the gains, with Micron Technology jumping more than 5.44% after Mizuho raised its target price following the announcement of its Singapore investment plan, Amazon up 2.63%, Intel rising over 3%, and both Microsoft and Amazon gaining more than 2%.

Individual stocks saw sharp volatility. UnitedHealth Group plummeted 19.61% after warning of its first revenue decline in 30 years, dragging down the Dow; Oracle fell more than 4%, and Tesla edged down 0.99%. Chinese concept stocks were mixed, with the Nasdaq Golden Dragon China Index closing up 0.48%, United Microelectronics Corporation surging 10.24%, Huya rising 19.61%, while Ctrip fell 2.39%. More than 90 S&P 500 constituent companies will release earnings reports this week, and the performance of tech giants such as Apple and Meta, along with the Federal Reserve’s interest rate decision, will be the core variables affecting the subsequent trend of US stocks.