Overnight US stocks | Nasdaq and S&P 500 indexes continue to rise this week, and gold prices climb to record highs.

Thursday, the three major indexes rose, with the Nasdaq and S&P 500 indexes recording gains for the fourth consecutive day. [US Stocks] As of the time of writing, the Dow Jones Industrial Average rose by 235.06 points, or 0.58%, to 41096.77 points; the Nasdaq rose by 174.15 points, or 1.00%, to 17569.68 points; the S&P 500 index rose by 41.63 points, or 0.75%, to 5595.76 points. NVIDIA Corporation (NVDA.US) rose nearly 2%, Micron Technology, Inc. (MU.US) fell nearly 4%, Wells Fargo & Company (WFC.US) fell 4%. The Nasdaq China Golden Dragon Index closed down 0.8%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose 0.8%, XPeng, Inc. ADR Sponsored Class A (XPEV.US) fell over 5%. [European Stocks] The German DAX30 index rose by 196.08 points, or 1.07%, to 18523.65 points; the UK FTSE 100 index rose by 47.66 points, or 0.58%, to 8241.60 points; the French CAC40 index rose by 38.24 points, or 0.52%, to 7435.07 points; the Euro Stoxx 50 index rose by 49.77 points, or 1.04%, to 4813.35 points; the Spanish IBEX35 index rose by 120.94 points, or 1.07%, to 11394.54 points; the Italian FTSE MIB index rose by 270.58 points, or 0.82%, to 33445.00 points. [Asia-Pacific Stock Markets] The Nikkei 225 index rose more than 3.4%, the Indonesian Jakarta Composite Index rose by 0.48%, and the Vietnam VN30 index rose by 0.29%. [Gold] Spot gold closed up 1.84% at $2558.07 per ounce, hitting a new record high. Spot silver rose 4.19% to $29.8792 per ounce. [Cryptocurrency] Bitcoin rose by 0.7% to $57981.9, and Ethereum rose by 0.16% to $2354.12. [Crude Oil] WTI October crude oil futures closed up $1.66, or 2.46%, at $68.97 per barrel; Brent November crude oil futures closed up $1.36, or 1.92%, at $71.97 per barrel. [Metals] Most London metals fell, with nickel down 0.25%; zinc up over 3%, aluminum up over 1.7%, and copper up over 1.3%. [Macro News] US August PPI up 1.7% year-on-year, the lowest in two months. US August PPI rose by 1.7% year-on-year, the lowest since February; up 0.2% month-on-month, higher than the expected 0.1%. US August core PPI rose by 2.4% year-on-year, in line with expectations, consistent with the previous value; up 0.3% month-on-month, higher than expected. After the data release, investors continued to bet that the Federal Reserve will cut interest rates by 25 basis points at the upcoming meeting next week. US job market slowed down but layoffs remain low. Initial jobless claims in the US increased by 2000 to 230,000 people for the week ending September 7. The number of people applying for unemployment benefits has increased slightly, indicating that despite the slowdown in the labor market, layoffs remain at a low level. It is important to note that last week's data included the Labor Day holiday, during which data is often unstable. However, since dropping from a 11-month high of 250,000 at the end of July, this number has remained almost unchanged. As rising interest rates have suppressed demand for the entire economy, companies have reduced hiring, leading to a slowdown in the labor market. Against the backdrop of a slowing job market, the Federal Reserve is expected to start its easing cycle next Wednesday, with a 25-basis point rate cut expected after a significant slowdown in August CPI year-on-year growth. However, inflation still shows some stickiness. The ECB announces interest rate cuts. The European Central Bank announced the latest interest rate decision, lowering the key deposit rate by 25 basis points and the main refinancing and marginal lending rates by 60 basis points, in line with market expectations. Considering the economic situation and inflation outlook in the eurozone, the ECB has sufficient conditions to cut interest rates. Market expectations for the eurozone economic growth rate have been declining, with Germany frequently sounding recession warnings; the eurozone inflation level has approached the ECB's target range, with overall inflation in the eurozone dropping by 2.2% year-on-year in August, hitting a three-year low. After the ECB announced the interest rate cut, market focus shifted to the future monetary policy path of the eurozone. Following the ECB's policy statement, traders reduced their expectations for ECB interest rates, expecting a further cut of 36 basis points by the end of 2024, with analysts divided on the prospect of two more rate cuts this year. Some analysts believe that the lackluster economic growth in the eurozone may continue to prompt the ECB to cut rates in the upcoming meetings. US household net worth rises to record high in the second quarter driven by steady increases in stock prices and housing. US household wealth reached a record high in the second quarter, driven by steady increases in the value of real estate and stocks held by Americans. A report released by the Federal Reserve on Thursday showed that household net worth increased by $2.76 trillion, up 1.7% from the previous quarter to $163.8 trillion. The value of real estate held by households increased by approximately $1.75 trillion, marking the largest increase in a year. The value of stocks held by households increased by approximately $662 billion. The report also showed that the pace of borrowing by consumers and businesses slowed in the second quarter. Corporate outstanding debt grew at an annual rate of 3.8%, and consumer non-mortgage credit grew at an annual rate of 1.6%. Mortgage debt growth accelerated to 3%. Meanwhile, household liquidity, while still significantly strong, fell from the record high of the previous quarter. Deposits held by households and non-profit organizations, including savings and checking accounts as well as money market funds, fell to $18.4 trillion. US Treasury proposes new rule: Companies with annual profits exceeding $1 billion must pay a minimum tax of 15%.The Department of Treasury announced on Thursday the proposed rules for a new corporate alternative minimum tax rate, expected to generate $250 billion in revenue over the next 10 years from approximately 100 large companies with an average current tax rate of only 2.6%. The tax rate will apply to companies with annual adjusted financial statement income of $1 billion or more. These companies often use income deductions and other strategies to minimize net income and federal income tax, sometimes reducing it to zero. Treasury Secretary Yellen stated in a release that the proposed rules issued today are an important step towards fulfilling Congress' efforts to address the most serious corporate tax avoidance issues in the U.S., and will help create a fair competitive environment for small businesses. Officials stated that the new rules further clarify the deduction limits used to determine adjusted financial statement income and tax obligations. While there is a general requirement for companies meeting the $1 billion profit threshold to pay a 15% alternative minimum tax, the more specific clarifications included in the Thursday proposed rules will apply to the 2024 tax year.articleOpenAIGPT-3OpenAIThe article states that this new model, named o1, will "take more time to think" before responding to user inquiries. With this model, OpenAI's tools should be able to solve multi-step problems, including complex mathematical and programming problems. ChatGPT Plus and Team users will be able to use a preview version of this model on Thursday. "As an early model, it does not yet have many of the features that make ChatGPT useful, such as browsing the web for information and uploading files and images," the company said. "But for complex reasoning tasks, this is a significant advancement, representing a new level of artificial intelligence capability. In light of this, we are resetting the counter to 1 and naming this series OpenAI o1."Traduci in inglese: "Ciao, come stai?"