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13:40
The three major U.S. stock indexes opened slightly higher, Reddit surged over 13%
Jinse Finance reported on May 1 that the Dow Jones Index rose 0.37%, the S&P 500 Index rose 0.36%, and the Nasdaq Composite Index rose 0.30%. The chip storage sector declined, with Western Digital dropping over 6% and SanDisk dropping over 3%. Social media platform Reddit surged more than 13%, as the company’s guidance for second-quarter revenue exceeded expectations. Online video game platform Roblox plunged more than 23%, as the company significantly lowered its annual subscription guidance.
13:38
The Philadelphia Semiconductor Index drops nearly 1%
Glonhui, May 1 | In the US stock market, the Philadelphia Semiconductor Index fell nearly 1%. Among its constituents, Qualcomm and KLA declined more than 2%, while NXP, Texas Instruments, Applied Materials, ASML, and Nvidia dropped over 1%.
13:35
Ark Invest predicts that Bitcoin's market capitalization will reach $16 trillion by 2030
Ark Invest forecasts that Bitcoin's market capitalization will reach 16 trillion USD by 2030, more than 10 times the current approximately 1.5 trillion USD. The institution points out that accelerated adoption by ETFs, corporate finance, and sovereign entities are the main driving factors. Ark also believes that Bitcoin will gain wider recognition as "digital gold", is expected to capture about 40% of gold’s market capitalization, and benefit from a small allocation within the roughly 200 trillion USD in global investment portfolios.
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