ME News report: On August 7 (UTC+8), the U.S. July non-farm payrolls unexpectedly declined, prompting traders to reduce bets on Federal Reserve rate hikes, leading to a broad rally in U.S. stocks. The Nasdaq opened up 0.77%, the S&P 500 rose 0.33%, and the Dow increased 0.10%. According to BIT (bit.com) market data, storage-related stocks opened higher, with SanDisk rising over 3%. Optical communication stocks advanced broadly: optical module manufacturer AAOI surged more than 7% after forecasting a tenfold capacity expansion over two years and expecting certification from a major client for its 1.6T technology within as little as two weeks; Coherent climbed over 9%. Among chip stocks, SK Hynix fell 1.64%, while Micron rose 1.19%. Storage and neocloud stocks generally followed the upward trend, with SNDK up 3.21% and NBIS up 1.16%. (Source: BlockBeats)
U.S. Nonfarm Payrolls Decline, Boosting Tech and AI-Related Stocks
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Summary
The Fear and Greed Index declined as U.S. July nonfarm payrolls missed expectations, prompting traders to reduce bets on Fed rate hikes. U.S. stocks opened higher, with the Nasdaq up 0.77%, the S&P 500 at 0.33%, and the Dow at 0.10%. Storage and optical communication stocks rose, with AAOI climbing over 7% and Coherent up more than 9%. Altcoins to watch may attract renewed interest amid shifting market sentiment.
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