CITIC Securities: It is expected that the US stock market will continue to maintain a volatile upward trend.

CITIC Securities research report suggests that this week, the trading momentum of the AI sector in the US stock market has significantly returned. The rise in SK Hynix's stock price after its listing in the US confirms the continued heat in the AI hardware industry chain. Meta's expansion of data centers and Amazon's bond issuance for fundraising indicate that technology giants still have strong capital spending capability, effectively alleviating concerns about the slowdown in investment pace in the AI field. We expect the US stock market to maintain a turbulent upward trend in the future, and recommend focusing on the software, defense, energy infrastructure, and financial sectors.