Overnight US stocks | The three major indices fell sharply with Tesla, Inc. (TSLA.US) dropping nearly 5%.

On Friday, the three major indices collectively closed lower, but all three major stock indices recorded gains for the week. The Dow Jones Industrial Average (DJIA) rose 0.35% for the week, the Nasdaq Composite (IXIC) rose 0.76% for the week, and the S&P 500 Index (INX) rose 0.67%. This week, Tesla, Inc. (TSLA.US) rose 2.52%, Meta Platforms, Inc. (META.US) rose 2.49%, NVIDIA Corporation (NVDA.US) rose 1.77%, Alphabet Inc. Class A (GOOGL.US) rose 0.71% for a fifth consecutive week, Apple Inc. (AAPL.US) rose 0.46% for a sixth consecutive week, Amazon.com, Inc. (AMZN.US) fell 0.50%, and Microsoft Corporation (MSFT.US) fell 1.38% for a second consecutive week. In the US stock market, at the close, the Dow Jones Industrial Average fell 333.59 points, or 0.77%, to 42,992.21 points; the Nasdaq Composite fell 298.33 points, or 1.49%, to 19,722.03 points; and the S&P 500 Index fell 66.75 points, or 1.11%, to 5,970.84 points. Tesla, Inc. (TSLA.US) fell 4.95%, while WiMi Hologram Cloud Inc. ADR Class B (WIMI.US) rose over 77%. In the European stock market, the German DAX30 Index rose 131.28 points, or 0.66%, to 19,980.05 points; the UK FTSE 100 Index rose 11.06 points, or 0.14%, to 8,148.05 points; the French CAC40 Index rose 72.68 points, or 1.00%, to 7,355.37 points; the Euro Stoxx 50 Index rose 41.19 points, or 0.85%, to 4,899.05 points; the Spanish IBEX35 Index rose 58.73 points, or 0.51%, to 11,532.63 points; and the Italian FTSE MIB Index rose 411.10 points, or 1.22%, to 34,151.00 points. In the Asia-Pacific stock market, the Nikkei 225 Index rose by 1.8%, the Indonesia Composite Index fell by 0.41%, and the South Korean KOSPI Index fell by 1.02%. In the cryptocurrency market, Bitcoin fell over 1.4% to $95,369.48, while Ethereum fell 0.4% to $3,319.72. In the gold market, spot gold fell 0.45% to $2,621.80 per ounce, remaining largely unchanged for the week after rebounding from a low of $2,608.25 on December 24 to $2,639.22 on December 26. COMEX gold futures fell 0.69% to $2,635.70 per ounce, with a weekly decline of 0.35%. WTI February crude oil futures rose by $0.98, or nearly 1.41%, to $70.60 per barrel, with an overall increase of over 1.64% for the week. In the bond market, the yield on the 10-year US Treasury bond rose by 3.66 basis points to 4.6192%, nearing the peak of 4.6393% on December 26 and close to the peaks of 4.7351% on April 25 and 5.0267% on July 20, 2007. The yield on the 2-year US Treasury bond fell by 0.41 basis points to 4.3242%, with a weekly increase of 1.60 basis points and trading in a range of 4.3035% to 4.3633%. In the foreign exchange market, the ICE US Dollar Index fell by 0.11% to 108.006, with a weekly increase of 0.17% and trading in a range of 107.683 to 108.302. The Bloomberg Dollar Index rose by 0.03% to 1,303.06, with a weekly increase of 0.48% and trading in a range of 1,296.32 to 1,303.95. The US dollar fell by 0.15% against the Japanese yen to 157.83, with a weekly decline of 0.89% and trading in a range of 156.14 to 158.08 yen. In macro news, the United States has confirmed a genetic mutation in the avian flu virus infecting humans. The US Centers for Disease Control and Prevention announced on December 26th that gene sequencing results showed a mutation in the avian flu virus infecting humans. This mutation could make the virus more easily infect human upper respiratory tracts. It was reported that researchers sequenced the virus in two upper respiratory tract samples from a severely ill patient infected with the H5N1 type avian flu virus in Louisiana, with a mutation found in one of the samples. The CDC did not find these mutations in birds around the patient's living environment. A similar mutation was previously detected in a severe Canadian patient. The CDC believes that these mutations occurred in the avian flu virus during replication in the human body, making it easier to bind to receptors in the human upper respiratory tract. Some analysts predict that the S&P 500 Index will rise to above 7,000 points next year. Analysts at investment management company Payden & Rygel stated that with interest rate cuts exceeding expectations, continued consumer spending, and strong corporate profits, the stock market is expected to continue rising in 2025. They suggest that this could push the S&P 500 Index to above 7,000 points, equivalent to a stock price return of 15%. They also mentioned that the positive factors of "tax cuts and a relaxed regulatory environment under newly elected President Donald Trump" could provide additional boost to the stock market. President Trump has requested the US Supreme Court to suspend the order for TikTok to be sold. Official media reported on December 27th that...It was reported that the elected President of the United States, Donald Trump, has requested the Supreme Court to suspend the order to sell TikTok. Trump stated that he hopes the court will give him time to resolve this dispute through political means after he officially takes office on January 20 next year. On December 18th local time, the Supreme Court of the United States announced that the case to ban TikTok from operating in the United States will be discussed again. It is reported that the Supreme Court of the United States will debate on this case on January 10th and allow the court to make a ruling on the issue before the law takes effect on January 19th. The order requires TikTok's parent company, ByteDance, to divest TikTok or else TikTok will be prohibited from operating in the U.S. ByteDance has explicitly stated that it will not sell the TikTok business.OpenAI outlines new profit structure to maintain competitive edge in costly AI race. OpenAI outlined its restructuring plan on Friday, stating that it will create a nonprofit corporation that will make it easier to raise funds and eliminate the constraints the current nonprofit parent company has on this startup. Under the proposed structure, the existing profit-making division of the chat software maker will become a Delaware Public Benefit Corporation (PBC). This company's structure will not only consider shareholder value, but also consider social benefits. Meanwhile, OpenAI said in a blog post that nonprofit organizations will have "significant equity" in the PBC in the form determined by independent financial advisors, adding that this will be "one of the most financially sound nonprofit organizations in history". As the pursuit of artificial general intelligence becomes increasingly expensive, OpenAI has been seeking changes to attract more investment. This depends on whether the company can change its corporate structure and remove the cap on investor profits. OpenAI's most recent round of financing raised $6.6 billion, valuing the company at $157 billion. "The amount of funding we need exceeds our imagination once again. Investors are willing to support us, but at this capital scale, what we need is traditional equity, not structural assets," OpenAI said on Friday. The largest increase in recent years: Over 770,000 people in the United States will be homeless by 2024. On December 27 local time, a report released by the U.S. Department of Housing and Urban Development (HUD) showed that the number of homeless people in the United States is expected to increase by 18.1% by 2024, marking the largest increase in recent years. According to statistics conducted nationwide, more than 770,000 people are counted as homeless, including nearly 150,000 children, an increase of 33% from the previous year. The report points out that the main reasons for the increase in homelessness are lack of affordable housing, natural disasters, and a sharp increase in immigration. In addition, natural disasters such as wildfires on Maui Island, Hawaii in 2023 have also led to a significant increase in homelessness. [Stock News] KINGSOFT CLOUD (KC.US) closes up over 23% amid rumors that Xiaomi will heavily invest in AI big models. KINGSOFT CLOUD closed up 23.24% on Friday at $12.57. According to reports, Xiaomi is building a GPU ten-thousand-card cluster and investing heavily in AI big models. The Xiaomi Big Model team already has 6,500 GPU resources at its inception, and according to Xiaomi's 2023 anniversary speech, Xiaomi's main breakthrough direction in big model technology is lightweight and local deployment. Institutions generally believe that as Xiaomi plans to deeply integrate artificial intelligence (AI) into its ecosystem and with a huge demand for computing power, KINGSOFT CLOUD, as its partner, will inevitably experience significant business growth.