Market analysis for May 3

On the eve of the release of the US non-farm payrolls report, the Nasdaq index rose 1.5%, leading the S&P 500 index to end two consecutive days of decline. Amazon shares rose more than 3%, prominently among tech stocks. Chip stocks also performed strongly, with Nvidia rising more than 3%, while Qualcomm's stock price soared by nearly 10%, thanks to its surprising quarterly earnings report.

In the UK market, Standard Chartered Bank's stock price rose nearly 9% in the British stock market after the financial report, helping British stocks to rebound to record highs. Meanwhile, in the US market, Novo Nordisk's US stocks fell 4% despite announcing sales that exceeded expectations.

Apple's stock price once soared 7% in after-hours trading after the earnings report, thanks to its performance exceeding market expectations. Although iPhone sales fell 10% year over year, service revenue reached record highs for five consecutive quarters, and the decline in revenue in Greater China was small. Apple announced that it will launch the largest share repurchase program of 110 billion US dollars in history, and revealed that major plans will be announced at the June Global Developers Conference.

At the same time as the earnings report was released, Tesla accidentally cut off the entire supercharging team. This decision shocked the entire US electric vehicle industry. Furthermore, US economic data shows that productivity growth is slowing, while labor costs are growing at the highest rate in a year. US factory orders rose sharply in March, with aircraft orders being particularly prominent.

In terms of the bond market, US Treasury yields fell for two consecutive days, with two-year yields hitting a new low of nearly two weeks. The US dollar index also fell to a low of nearly three weeks. In the foreign exchange market, the yen recovered strongly in the next day after the Bank of Japan is suspected of interfering in the market.

The crude oil market fell for the fourth day in a row, hitting a seven-week low, while Brent crude barely rebounded. In the precious metals market, gold failed to continue its previous rebound, and futures prices declined in the intraday period.

In the Chinese market, China's stock index surged 6% to a five-month high. Xiaopeng Motors and Ideal Auto surged 16% and 10% respectively, while JD, Pinduoduo, and Station B also increased by more than 10%. Meanwhile, the offshore RMB exchange rate rose sharply against the US dollar, breaking through the 7.20 mark and hitting a one-and-a-half-month high. In the Hong Kong stock market, the Hang Seng Technology Index closed up 4.45%, while the Hang Seng Index announced that it had entered a technical bull market. Shangtang Technology's stock price surged 36%, showing the market's strong interest in technology stocks.