The three major U.S. stock indices all closed higher, with the Nasdaq up 1.71%, the S&P up 0.84%, but the Dow only slightly up 0.02%.


The key theme is the structure — the information technology/tech sector rose 2.74%, hitting a new all-time high; however, the industrial, energy, financial, and utilities sectors all declined, with drops ranging from 0.3% to 0.9%.
This indicates: funds are flowing out of traditional economic sectors and into tech growth. The chip index rose 5.5%, Micron surged over 15%, Intel jumped 14%, and AMD gained a total of 26% over the week.
By the close of trading in New York on May 8, the offshore RMB was at 6.7971, up 116 points from the previous day, reaching the highest level since February 2023 both onshore and offshore.
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