Overnight US stocks | The three major indexes have mixed movements. The Dow Jones and S&P 500 indexes have hit intraday record highs.

- On Wednesday, the three major indexes saw mixed results. During the trading session, the Dow Jones reached a high of 42,299.64 points, while the S&P 500 rose to 5,740.13 points, both setting new intraday highs. On Tuesday, the S&P 500 and Dow Jones each rose 0.25% and 0.20% respectively, also setting new intraday highs. The three major U.S. stock indexes recorded gains in September. - In U.S. stocks, as of the close, the Dow Jones fell 293.47 points, or 0.70%, to 41,914.75 points; the Nasdaq rose 7.68 points, or 0.04%, to 18,082.21 points; the S&P 500 fell 10.67 points, or 0.19%, to 5,722.26 points. NVIDIA Corporation (NVDA.US) rose 2%, Intel Corporation (INTC.US) rose 3%, and Trump Media & Technology Group (DJT.US) rose 10%. - In European stocks, the German DAX30 index fell 63.79 points, or 0.34%, to 18,923.95 points; the UK's FTSE 100 index fell 11.51 points, or 0.14%, to 8,271.25 points; the French CAC40 index fell 38.39 points, or 0.50%, to 7,565.62 points; the Euro Stoxx 50 index fell 23.27 points, or 0.47%, to 4,917.45 points; the Spanish IBEX35 index fell 35.92 points, or 0.30%, to 11,801.08 points; the Italy FTSE MIB index fell 44.26 points, or 0.13%, to 33,837.00 points. - In the Asia-Pacific stock market, the Nikkei 225 index fell 0.19%, the Jakarta Composite Index fell 0.48%, and the VN30 index in Vietnam rose 0.99%. - In commodities, COMEX gold futures rose 0.16% to $2,681.3 per ounce; COMEX silver futures fell 0.94% to $32.125 per ounce. - In cryptocurrencies, Bitcoin fell over 1.2% to $63,529.9 per coin; Ethereum fell over 2.6% to $2,579.97 per coin. - In oil, WTI crude futures fell 2.43% to $69.82 per barrel; Brent crude futures fell 2.10% to $73.59. - In metals, London Metal Exchange saw mixed results, with zinc falling 0.48%, aluminum falling 0.51%, copper rising 0.16%, and nickel rising 0.65%. - Macro News: 1. Federal Reserve's Coglin: Strongly supports the decision to cut interest rates by 50 basis points. 2. U.S. mortgage rates fall again, triggering a massive wave of refinancing. 3. New York Fed's Open Market Account Director: Market ready to interpret last week's rate cut correctly. 4. Goldman Sachs Group, Inc.: Expects S&P 500 index to reach 6,000 points, bullish on mid-cap stocks.Better valuation. He also pointed out that, in the 3 months and 12 months following an interest rate cut, mid-cap stocks often outperform the overall market.The U.S. House of Representatives passes a short-term spending bill that will be submitted to the Senate for consideration. On September 25th local time, the U.S. House of Representatives passed a three-month short-term spending bill with a vote of 341 in favor and 82 against, to avoid a government shutdown at the end of the month. It is reported that the purpose of the bill is to ensure that the funding of the U.S. government can continue at the current level for three months, until December 20th. The Senate is expected to vote on the bill on the evening of September 25th, and after it is passed, it will be signed into law by President Biden. [Individual stock news] Alphabet Inc. Class C (GOOG.US, GOOGL.US) files anti-trust lawsuit against the European Union, accusing Microsoft Corporation (MSFT.US) of stifling cloud computing competition. Alphabet Inc. Class C filed an antitrust lawsuit against Microsoft Corporation with the European Commission on Wednesday, accusing the company of using unfair licensing agreements to stifle competition in the multi-billion dollar cloud computing industry. The core of Alphabet Inc. Class C's complaint is that Microsoft Corporation is using unfair licensing terms to "lock in" customers and control the cloud market. Alphabet Inc. Class C claims that Microsoft Corporation makes it difficult for its large customers to use any product other than its Azure cloud infrastructure products through its dominant Windows Server and Microsoft Office products. Alphabet Inc. Class C alleges that the limitations in Microsoft Corporation's cloud licensing terms make it harder for customers to move their workloads from Microsoft Corporation's Azure cloud technology to competitors' clouds, even though there are no technical barriers to doing so. Alphabet Inc. Class C cites a study by the cloud computing industry trade association CISPE conducted in 2023, which found that European businesses and public sector organizations are forced to pay up to 1 billion (11 million dollars) in licensing fines to the company each year due to restrictions on their ability to switch from one cloud provider to another. Alphabet Inc. Class C's anti-trust complaint comes after CISPE and its members reached a settlement agreement with Microsoft Corporation in July, which will see Microsoft Corporation make changes to address competition concerns. Microsoft Corporation mentioned the settlement agreement with CISPE in a statement on Wednesday, stating that they expect the European Commission to reject Alphabet Inc. Class C's complaint. "Microsoft Corporation has amicably addressed similar concerns raised by European cloud providers, although Alphabet Inc. Class C hopes they will continue to file lawsuits," a Microsoft Corporation spokesperson said. "After failing to convince European businesses, we expect Alphabet Inc. Class C will also fail to persuade the European Commission." Apple Inc. (AAPL.US) stock falls as Morgan Stanley warns of shortened iPhone delivery cycles. Apple Inc.'s stock declined slightly as Morgan Stanley analysts pointed out that the delivery cycle of the iPhone 16 is shorter than the past three iPhone cycles. Analysts including Erik Woodring wrote, "Despite supply improvements, we have heard positive rumors of demand for the iPhone 16, but we remain more cautious in interpreting these data points." On the 11th day after pre-orders began, "the delivery cycle for the iPhone 16 in the U.S. is 15 days, compared to 26 days for last year's iPhone 15 model at the same time, and 18 days for all iPhone 14 models." "Overall, for the iPhone 16 cycle, these data points lean more towards the negative than the positive, although their predictive ability for the entire cycle remains weak." Shortly after the launch of the iPhone 16, other analysts had already warned of weak demand for the device. [Major brokerage rating] Morgan Stanley: Downgrades General Motors Company (GM.US) rating from "Hold" to "Underweight"