Overnight US stocks | The three major indexes fell, with Tesla, Inc. (TSLA.US) dropping by 5.77%.

On Thursday, all three major indexes closed lower. Federal Reserve Chairman Powell stated that there is no rush to cut interest rates, hinting that there may not be a rate cut in December. [US Stocks] At the close, the Dow fell 207.33 points, or 0.47%, to 43,750.86 points; the Nasdaq fell 123.07 points, or 0.64%, to 19,107.65 points; the S&P 500 fell 36.21 points, or 0.60%, to 5,949.17 points. Tesla, Inc. (TSLA.US) fell 5.77%, NVIDIA Corporation (NVDA.US) rose 0.33%, Microsoft Corporation (MSFT.US) rose 0.4%, Apple Inc. (AAPL.US) rose 1.38%. [European Stocks] The German DAX30 index rose 287.56 points, or 1.52%, to 19,264.65 points; the UK FTSE 100 index rose 39.60 points, or 0.49%, to 8,069.93 points; the French CAC40 index rose 94.97 points, or 1.32%, to 7,311.80 points; the European Stoxx50 index rose 93.71 points, or 1.98%, to 4,834.05 points; the Spanish IBEX35 index rose 143.66 points, or 1.26%, to 11,520.76 points; the Italian FTSE MIB index rose 659.48 points, or 1.96%, to 34,367.00 points. [Asia-Pacific Stock Market] The Nikkei 225 index fell 0.48%, the Jakarta Composite Index fell 1.29%, and the Korean KOSPI index rose slightly. [Cryptocurrency] Bitcoin briefly rose above $90,000, reaching a new all-time high, with a cumulative increase of nearly 30% since the US election day. Investors are betting on a wave of relaxed regulations and cryptocurrency-friendly policies after Trump retook the White House last week. Dozens of congressional candidates supported by the Cryptocurrency Pac won their races, further boosting Bitcoin's momentum. [Gold] COMEX gold futures fell 0.59% to $2,571.20 per ounce; spot gold fell 0.25% to $2,566.54 per ounce. Analyst Adam Button of the financial website Forexlive stated that the gold market had priced in uncertainty around the US election, but when results quickly became clear, gold prices plummeted and have since been in a defensive position. Gold fell to $2,537 on Thursday for the fifth consecutive day, finding some support there, nearly matching the high point in August. The rebound in gold prices coincided with some people buying bonds and selling Trump trades. Furthermore, as Asia-Pacific stock markets retreat, further declines may prompt people to buy gold again. [Crude Oil] WTI crude oil futures for December delivery on the New York Mercantile Exchange rose 27 cents, or 0.39%, to $68.70 per barrel. Year-to-date, this futures contract has fallen by about 4%; Brent crude oil futures for January rose 28 cents, or 0.39%, to $72.56 per barrel. Year-to-date, this futures contract has fallen by about 6%. [Metals] Most London metals fell, with copper up 0.16%, nickel down 0.2%, aluminum down 0.28%, and zinc down over 1.1%. [Macro News] US Initial Claims Data Decline Indicate Stable Job Market. Data released by the US Department of Labor on Thursday showed that initial jobless claims decreased by 4,000 to 217,000 after seasonal adjustment for the week ended November 9, with market expectations at 223,000. This decline suggests that the US job market continues to remain stable, and the sudden slowdown in job growth in October was an abnormal phenomenon. The number of people applying for unemployment benefits surged at the beginning of October due to the impact of hurricanes Helen and Milton and a strike by workers at Boeing Company factories. However, layoffs remain at historical lows, supporting the economy. Lou Crandall, chief economist at Wrightson ICAP, said, "Although many employment-related indicators show a clear weakening of the job market this year, this change has not yet affected unemployment insurance data." While the regions devastated by Hurricane Helen may take some time to recover, economists are optimistic that with the end of the Boeing Company strike, job growth in November will regain momentum, allowing the aircraft manufacturer to cancel the temporary layoffs implemented to save cash. US October PPI rose 0.2% month-on-month, in line with expectations. According to data from the US Bureau of Labor Statistics, the October Producer Price Index (PPI) for final demand increased by 0.2% month-on-month, compared to a 0.1% increase in the previous month. The median estimate was an increase of 0.2%, with forecasts from 51 economists ranging from a decrease of 0.1% to an increase of 0.4%; the final demand PPI year-on-year increased by 2.4%, forecasted growth was 2.3%; the final demand PPI excluding food and energy year-on-year increased by 3.1%, forecasted increase was 3%; the final demand PPI excluding food and energy rose by 0.3% month-on-month, forecasted increase was 0.2%; and the final demand PPI excluding food, energy, and trade services rose by 0.3% month-on-month, with a year-on-year increase of 3.5%. Powell: The Fed does not need to "hurry" to cut rates. Federal Reserve Chairman Powell stated that due to the strong US economy, the Fed does not need to "hurry" to lower interest rates, and the Fed will "carefully monitor" to ensure that certain inflation indicators remain within an acceptable range. Powell reiterated that the path of the Fed's policy rate will depend on upcoming data releases and the evolution of the economic outlook. He said that the inflation rate is approaching the Fed's 2% target but has not reached it yet. The Fed will closely monitor core inflation indicators excluding housing, which have been declining over the past two years. "We expect these indicators to continue fluctuating within a recent range, and the road to the Fed's 2% target can sometimes be bumpy." The frenzy of speculation in Bitcoin is beginning to show signs of cooling in the futures market. K33 RResearch shows that the premium of CME Group Inc. Class A (CME) Bitcoin futures contract relative to spot market prices has decreased. According to data from cryptocurrency tracking company Amberdata, there has been a sharp increase in open contracts for put options with a strike price of $80,000 in the past 24 hours. Vetle Lunde, research director at K33, said, "The market seems to be cooling down, as the premium of the CME benchmark contract has been declining since yesterday's close, hovering around 10% all day, lower than the 13%-16% since the U.S. election, which may be a subtle indication of easing risk conditions." The overall closure of leveraged bullish bets in the cryptocurrency market has to some extent led to a pullback in Bitcoin from its record high. According to data compiled by Coinglass, in the past 24 hours, the closure amount of long positions was twice that of short positions, totaling $447 million and $207 million respectively.Fed Governor Kugler: Both inflation and employment targets must be considered simultaneously. Fed Governor Adriana Kugler said policymakers must focus on both the Fed's inflation and employment goals, as the labor market is cooling and progress in falling inflation rates back to the 2% target is slowing. In a written statement on Thursday, Kugler said that the trend of slowing inflation alongside a cooling labor market means that both aspects of the dual mandate cannot be ignored. She stated, "If there are any risks that hinder progress or accelerate inflation again, then pausing rate cuts is the appropriate action, but if the labor market suddenly slows down, then continuing to gradually lower policy rates would be appropriate." When asked if there was a higher threshold set for further rate cuts, Kugler said that she could only say that both types of risks need to be considered. "What I want to say is that we need to continue to focus on the two pillars of our mission." The assets of the US money market fund exceeded 7 trillion US dollars for the first time. According to data provided by Crane Data, a long-term researcher in the money market fund area, as of the week ending November 13, the management assets of US money market funds increased by about $91 billion, with a total size exceeding 7 trillion US dollars for the first time, which is a milestone for the industry. Due to high and reliable yields, the popularity of this industry among investors has been steadily increasing. Before surpassing the 7 trillion US dollar mark, the assets of US money market funds had hit historical highs for several consecutive months, countering doubts about whether the industry would remain popular as Federal Reserve officials lowered rates from their 20-year highs. After the Federal Reserve cut rates by 50 basis points in September and another 25 basis points this month, investors continued to flock to money market funds, mainly because the yields of money market funds were higher than other tools - especially bank deposits. Compared to banks, these funds often transmit the impact of low interest rates more slowly. [Stock News] Buffett's latest positions: Opening positions in pizza stocks, reducing positions is the main theme. The 13F filing shows that Buffett's Berkshire Hathaway opened new positions in Domino's Pizza with 1.27 million shares and Pool Corp with 400,000 shares in the third quarter. As previously announced, Buffett reduced his position in Apple Inc. by 100 million shares (AAPL.US), reducing his position to 26.24%. He also reduced positions in First Capital, Inc. credits, Nu Holdings, and Charter Communications. Closed positions in Floor & Decor and Liberty Sirius XM, nearly closed position in Ulta Beauty. Except for a small increase in HEICO Corporation, there were no other buy actions. As of the end of the third quarter, Berkshire Hathaway's total market value of holdings decreased from $280 billion to $266 billion. BlackRock, Inc. buys Apple Inc. like crazy in Q3 and continues to increase positions in the "Big Seven". The 13F filing shows that asset management giant BlackRock, Inc. continued to increase its positions in the seven tech giants in the US in the third quarter. They increased their position in Apple Inc. (AAPL.US) by 43.4 million shares, Microsoft Corporation (MSFT.US) by 7.5 million shares, NVIDIA Corporation (NVDA.US) by 12.35 million shares, Amazon.com, Inc. (AMZN.US) by 18.55 million shares, Meta Platforms (META.US) by 0.98 million shares, Tesla, Inc. (TSLA.US) by 4.66 million shares, and Alphabet Inc. Class C A+ shares by 6.21 million shares; reduced their position in Eli Lilly (LLY.US) by 1.51 million shares. In addition, BlackRock, Inc. increased its position in Berkshire Hathaway (BRK.B.US) by 2.59 million shares. As of the end of the third quarter, BlackRock, Inc. reported holdings valued at $4.76 trillion, up from $4.42 trillion last time. Tesla, Inc. (TSLA.US) agrees to Trump's plan to cancel US electric vehicle tax exemptions. Sources said that as part of a broader tax reform legislation, President Trump's transition team is planning to cancel the $7,500 electric vehicle tax credit, and representatives of Tesla, Inc. also support the termination of the subsidy. As an important part of President Biden's "Inflation Reduction Act", the abolition of this subsidy will have a significant impact on the popularization of electric vehicles in the United States. Due to high car prices and uneven charging infrastructure, the adoption rate of electric vehicles in the United States has been declining. Trump had previously stated that he would reverse Biden's electric vehicle policy on his first day in office. Ford (F.US) fined $165 million by the US for failing to timely recall faulty vehicles. The National Highway Traffic Safety Administration announced that Ford Motor Company has agreed to a civil penalty of $165 million. Previously, a US government investigation found that the automaker had failed to promptly recall vehicles with rearview camera defects. It is understood that Ford will pay $65 million in cash, invest $45 million in advanced data analysis, new testing facilities, and other projects, and another $55 million will be temporarily withheld if Ford complies with the agreement. EU accuses Meta (META.US) of abusing market dominance, fines nearly 800 million euros. The European Commission said in a statement on Thursday that it has fined Meta Platforms (META.O) 7.9772 billion euros (approximately $8.4024 billion) for abusing the dominance of Facebook Marketplace. Meta stated that it will appeal the decision, but at the same time, the company will comply with the penalty and quickly work constructively to address the issues raised. Two years ago, the European Commission accused this US tech giant of abusing the classification of ads on Facebook.The integration of Marketplace has given it an unfair advantage. The European Union launched a formal antitrust lawsuit against Meta in June 2021, and in December 2022 raised concerns about the company linking its dominant social network Facebook with its online classified ads service."Puedo ayudarte en algo ms?"