Overnight US stocks | The results of the U.S. Treasury's 10-year bond auction were dismal, with the three major indexes falling. XPeng, Inc. ADR Sponsored Class A (XPEV.US) rose more than 9% against the market.

On Tuesday, the U.S. Treasury auctioned $39 billion of 10-year Treasury notes, with dismal results. The bid yield for this 10-year Treasury auction was 4.680%, reaching a new high since August 2007, and the first time since October last year that there has been a sign of weak demand in the tail end spread. The indicator measuring overseas demand saw a significant decline, reaching its lowest level since October 2023. Major U.S. stock indexes fell, with tech stocks falling across the board. [US Stocks] At the close, the Dow fell 178.20 points, or 0.42%, to 42,528.36; the Nasdaq fell 375.30 points, or 1.89%, to 19,489.68; the S&P 500 fell 66.35 points, or 1.11%, to 5,909.03. NVIDIA Corporation (NVDA.US) opened at a new high before closing down 6.2%, Tesla, Inc. (TSLA.US) fell 4%, Apple Inc. (AAPL.US) fell 1%. The Nasdaq Golden Dragon Index closed slightly down 0.2%, XPeng, Inc. ADR Sponsored Class A (XPEV.US) surged more than 9%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell 1%. [European Stocks] The German DAX30 index rose 142.47 points, or 0.70%, to 20,352.45; the UK's FTSE 100 index fell 6.75 points, or 0.08%, to 8,242.91; the French CAC40 index rose 43.66 points, or 0.59%, to 7,489.35; the Euro Stoxx 50 index rose 24.51 points, or 0.49%, to 5,011.15; the Spanish IBEX35 index fell 1.23 points, or 0.01%, to 11,806.97; the Italian FTSE MIB index rose 149.19 points, or 0.43%, to 34,930.00. [Asia-Pacific Stock Markets] The Nikkei 225 index rose 1.97%, the Jakarta Composite Index rose 0.04%, and the Korean KOSPI index rose 0.14%. [Cryptocurrencies] Bitcoin fell more than 5.4% to $96,699.96; Ethereum fell more than 8% to $3,383.74. [Gold] Spot gold rose 0.51% to $2,649.79 per ounce; COMEX gold futures rose 0.64% to $2,664.60 per ounce. [Oil] NYMEX February delivery of West Texas Intermediate (WTI) crude oil futures closed up $0.69, or about 0.94%, at $74.25 per barrel. [Foreign Exchange] The U.S. dollar index, which measures the dollar against six major currencies, rose 0.26% to close at 108.549 in the forex market. At the end of the New York forex market, 1 euro exchanged for $1.0355, down from $1.0388 the previous trading day; 1 pound exchanged for $1.2490, down from $1.2513 the previous trading day. 1 dollar exchanged for 157.78 yen, up from 157.54 yen the previous trading day; 1 dollar exchanged for 0.9086 Swiss francs, up from 0.9045 Swiss francs the previous trading day; 1 dollar exchanged for 1.4347 Canadian dollars, up from 1.4337 Canadian dollars the previous trading day; 1 dollar exchanged for 11.1091 Swedish kronor, up from 11.0528 Swedish kronor the previous trading day. [Macro News] U.S. job vacancies in November rise to 6-month high. Driven by strong growth in business services, job vacancies in the U.S. rose to a 6-month high in November, with demand for workers in other industries more complex. The Job Openings and Labor Turnover Survey (JOLTS) released by the U.S. Bureau of Labor Statistics on Tuesday showed vacancies increased from a revised 7.8 million in October to 8.1 million, exceeding all analysts' expectations. The growth was driven almost entirely by professional and business services, as well as finance and insurance. The latest job vacancy figures indicate a moderate easing in the downward trend of the past three years. The labor market now appears more stable, and inflation has also shown stubbornness in recent months, reducing expectations for a rate cut by the Federal Reserve this year. After the data was released, traders no longer fully digested bets that the Fed would cut rates by July. U.S. House Speaker: Debt ceiling issue will be resolved before the June deadline. Politico reported that U.S. Republicans were already concerned that passing new policies on the budget and the reconciliation process would be difficult in areas such as border, energy, and taxes. And Speaker of the U.S. House of Representatives Johnson, in December, promised to use the reconciliation process to raise the debt limit, adding another layer of complexity. Conservatives generally oppose raising the debt ceiling and demand significant spending cuts in exchange for their support. When asked about the risk of delaying the plan and potentially facing a risk to the nation's credit rating, Johnson said in a brief interview on Tuesday that he was still pushing for the measure and reiterated his optimistic timeframe."We will address the debt ceiling issue before the end of June. So we are not worried," Johnson said, referring to the preliminary estimate of the time frame within which the US could face default risk unless Congress takes action.Trump press conference raises several surprising strategies, multiple countries respond. At a news conference held at Mar-a-Lago, President-elect Donald Trump made several shocking statements within just an hour, including escalating comments on sovereignty issues with Canada and other countries. He called for using economic means to absorb Canada as part of the United States, not ruling out using force to take over the Panama Canal and Greenland, and requested NATO countries to increase defense spending to 5% of GDP. He also vowed that if Hamas does not release Israeli hostages before he takes office, the Middle East will descend into chaos. Additionally, Trump promised to rename the Gulf of Mexico to the "American Gulf." Apart from threatening tariffs on uncooperative countries (including Denmark), he did not explain how these seemingly unattainable promises would be achieved. In response, various parties reacted to Trump's remarks. Canadian Prime Minister Trudeau said Canada would not become a state of the US, their foreign minister stated they will not back down in the face of threats; Danish Prime Minister reiterated that Greenland is not for sale; the Panamanian president responded that he will not comment on Trump's rhetoric about the Panama Canal before Trump takes office. Foreign media commented that Trump's remarks align with a more bold posture, where he believes he has the authority (from the people and the Electoral College) to speak and act almost as he pleases. Deutsche Bank Aktiengesellschaft: By 2025, new dissenting views may emerge among the Fed's new voting members. Deutsche Bank Aktiengesellschaft economist Matthew Luzzetti stated that the four regional Fed Reserve Bank presidents who will gain voting rights at the Fed's FOMC this year could make more controversial policy decisions. Chicago Fed President Evans is seen as one of the most dovish voices on the committee, while St. Louis Fed President Bullard and Kansas City Fed President Bostic are seen as potential hawks. Notably, Bullard and Bostic have not voted in the committee before. Luzzetti stated, "The higher the level of diversity, the greater the potential for disagreement, especially if inflation remains high and the labor market weakens, causing tension in the Fed's dual mandate and making the Fed's response murky." Bostic: Inflation is expected to gradually drop to 2% this year, but the Fed should still decide cautiously. Federal Reserve Bank of Atlanta President Bostic stated that given the uneven progress in reducing inflation, officials should be cautious in their decisions, leaning towards keeping rates high. Bostic also stated in a podcast recorded on December 9 and released on Tuesday that he expects inflation to continue dropping gradually to the Fed's 2% target this year. He expressed that price pressures are expected to ease, even though progress may sometimes appear stalled or inflation is becoming more aggressive. "I want to make sure that we get the right signals and that our policies are calibrated based on the right signals. If I must make a mistake, Id rather make it in the direction of being too aggressive," Bostic said in the podcast. "I want to ensure of course ensuring that inflation reaches 2%, which means we may have to keep policy rates higher than people expect." Stock News JPMorgan Chase & Co (JPM.US) plans to require all employees to work in the office five days a week. According to reports, JPMorgan Chase is preparing to notify all employees to work in the office five days a week, ending the hybrid work options for thousands of employees and reverting to pre-pandemic attendance policies. Sources revealed that JPMorgan Chase is expected to announce this change in the coming weeks, replacing the current mandate for three days of office work for many employees. This move indicates that CEO Jamie Dimon is sticking to his belief that face-to-face interactions among employees lead to better collaboration. Dimon had previously criticized the federal government for not mandating employees to work in the office more frequently. Anthropic plans to raise $20 billion in funding, valuing it at $60 billion and potentially becoming the fifth largest US startup. According to the Wall Street Journal, Amazon.com, Inc. (AMZN.US)-backed OpenAI competitor, artificial intelligence startup Anthropic is in advanced negotiations for a $20 billion funding deal, which would value the company at $60 billion. Sources say that this round of funding is led by venture capital firm Lightspeed venture Partners. According to data provider CB Insights, this deal would make Anthropic the fifth most valuable US startup, behind only SpaceX, OpenAI, Stripe, and Databricks. Last year, in a funding round led by Menlo Ventures, the company was valued at $18 billion. Major Bank Ratings Bank of America Corp: Downgrades Tesla, Inc. (TSLA.US) from Buy to Neutral and raises its target price from $400 to $490.