Overnight US stocks | The three major indexes are mixed, Oracle Corporation (ORCL.US) rose nearly 36%.

On Wednesday, the three major indexes saw mixed movements. During the session, the S&P 500 index rose to a high of 6555.97 points, while the Nasdaq reached a high of 22000.97 points, both setting new intraday highs. The August producer price unexpectedly dropped by 0.1%, leading the market to anticipate the Fed to start cutting interest rates. The stock price of Oracle Corporation soared to its largest increase since 1992, after the company announced positive prospects for its cloud business, solidifying its position in the competitive landscape of supporting AI computing demand. In early trading on Wednesday in the New York stock market, the company's stock price surged by 41%, reaching a market value of $947 billion. AI-related stocks such as NVIDIA Corporation and Asian suppliers also rose. [US Stocks] At the close, the Dow Jones dropped 220.42 points, or 0.48%, to 45490.92 points; the Nasdaq rose by 6.57 points, or 0.03%, to 21886.06 points; and the S&P 500 index rose by 19.44 points, or 0.30%, to 6532.05 points. Oracle Corporation (ORCL.US) surged nearly 36%, with a market value exceeding $920 billion, NVIDIA Corporation (NVDA.US) rose by nearly 4%, and Apple Inc. (AAPL.US) fell by 3.2%. The Nasdaq Golden Dragon Index fell by 0.95%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) dropped by 2%. [European Stocks] The Germany DAX30 index dropped by 100.61 points, or 0.42%, to 23632.59 points; the UK FTSE 100 index dropped by 19.63 points, or 0.21%, to 9222.90 points; the France CAC40 index rose by 11.93 points, or 0.15%, to 7761.32 points; the Euro Stoxx 50 index dropped by 8.92 points, or 0.17%, to 5359.90 points; the Spain IBEX35 index rose by 192.26 points, or 1.28%, to 15216.56 points; and the Italy FTSE MIB index rose by 35.78 points, or 0.09%, to 42044.00 points. [Crude Oil] The price of light crude futures for October delivery on the New York Mercantile Exchange rose by $1.04, closing at $63.67 per barrel, an increase of 1.66%; while the Brent crude oil futures for November delivery rose by $1.10, closing at $67.49 per barrel, an increase of 1.66%. [Forex] The US Dollar Index, which measures the dollar against six major currencies, fell by 0.01% to close at 97.780 in the foreign exchange market. At the close in the New York foreign exchange market, 1 euro exchanged for $1.1705, lower than the previous trading day's $1.1706; 1 pound exchanged for $1.3536, higher than the previous trading day's $1.3523. 1 US dollar exchanged for 147.33 yen, lower than the previous trading day's 147.40 yen; 1 US dollar exchanged for 0.7989 Swiss francs, higher than the previous trading day's 0.7977 Swiss francs; 1 US dollar exchanged for 1.3861 Canadian dollars, higher than the previous trading day's 1.3847 Canadian dollars; and 1 US dollar exchanged for 9.3521 Swedish krona, lower than the previous trading day's 9.3823 Swedish krona. [Cryptocurrency] Bitcoin rose by over 2%, reaching $113969.63; Ethereum rose by 0.96%, reaching $4352.53. [Gold] Spot gold rose by 0.53%, reaching $3645.42 per ounce. [US Bonds] The yield on the US 10-year Treasury bond fell by 4.78 basis points, closing at 4.0397%, and remained steady at around 4.09% before the release of the PPI data in Beijing at 20:30. This formed a top within the day, followed by a continuous decline after the US Treasury disclosed the results of the 10-year bond auction at 1:00. The yield on the 2-year US Treasury bond fell by 1.88 basis points, closing at 3.5396%, trading in the range of 3.5584%-3.5127% throughout the day, remaining in a downtrend. The 2/10-year spread fell by 3.130 basis points, closing at +49.594 basis points. [Macro News] The US Department of Labor launches oversight of the Bureau of Labor Statistics, focusing on employment data, among others. On September 10th, the US Department of Labor Inspector General's office issued a statement announcing the launch of a review to assess the challenges faced by the Bureau of Labor Statistics in the process of collecting and reporting economic data. The Inspector General's office pointed out that the Bureau of Labor Statistics had previously announced a reduction in data collection for two key inflation indicators in the US economy; the Consumer Price Index (CPI) and the Producer Price Index (PPI). In addition, the Bureau of Labor Statistics recently significantly reduced the estimates of new employment in the monthly "Employment Situation Report." The review will focus on challenges related to the collection and reporting of PPI and CPI data, as well as monthly employment data, including data revisions. Nominee for Federal Reserve Board Member, Stephen Moore, passes Senate committee test as scheduled. The US Senate Banking Committee voted along party lines on Wednesday to support the nomination of President Trump's advisor, Stephen Moore, to serve as a short-term Federal Reserve Board Member. The Republicans are quickly pushing his nomination in order for him to take office before next week's interest rate decision meeting. Sources revealed that the committee approved the nomination with a vote of 13-11, making it likely for Moore to receive full Senate confirmation on Monday. The Federal Reserve will hold a meeting later next week, with the market widely expecting the Fed to cut rates for the first time since December of last year due to slowing job growth. Judge blocks the dismissal of Federal Reserve Board Member, Lael Brainard, Trump administration quickly appeals. The Trump administration took swift action on Wednesday after a federal judge temporarily blocked his dismissal of Federal Reserve Board Member Lael Brainard. This move aims to advance Trump's efforts to remove Brainard from her position. The Department of Justice submitted a brief notice, formally appealing the ruling by US District Court Judge Jia Cobb on Tuesday night. Cobb ruled that Trump's claim that Brainard committed mortgage fraud before taking office may not be sufficient grounds for legal dismissal. Cobb's temporary injunction prohibits the Fed from carrying out the dismissal process for Brainard until the litigation is resolved. Before the Department of Justice filed the appeal, White House spokesperson Kush Desai stated that Trump had legally justified Brainard's dismissal and said "this ruling will not be the final word." This case is likely to be escalated to the Supreme Court for review, and the outcome will have a far-reaching impact on the Fed's ability to independently set interest rate policy and avoid political interference. Goldman Sachs Group, Inc. trader: Beware of economic data cracks halting the rise of US stocks. An economist at Goldman Sachs Group, Inc. stated that investors in the next 12 months need to be cautious and identify which economic data could pose a threat to this record-breaking stock market rally. Paul Schawone of the bank pointed out that employment data will play a crucial role in alerting economic cracks. For example, data from the New York Fed shows that while the probability of unemployment is still low, once unemployed, the probability of finding a new job is only 45%, the lowest valuation in history. The S&P 500 index hit a new all-time high on Wednesday. However, caution among some veteran market participants is arising from concerns about the US labor market, fiscal spending, and potentially excessive optimism in the market for artificial intelligence. Schawone previously stated that the market is underpricing recession risks. "I won't short the bubble too early, but I also won't ignore the cracks," he wrote. US Energy Corp. announces local gallium production project funding plan. The Fossil Energy and Carbon Management Office of U.S. Energy Corp. announced on September 10th the launch of the "Trace-Ga" project, aimed at establishing a secure, independent domestic gallium supply chain. This project will support the development of innovative and economically viable technologies for recovering gallium from US metal processing raw materials, to advance President Trump's commitment to strengthening the US critical mineral supply chain. The proposed project will test and validate gallium recovery prototype technologies, with the goal of producing a minimum of 50 kilograms of high-purity gallium through at least one 14-day continuous run in a real metal industry processing flow. The project aims to demonstrate the feasibility of a prototype technology with a capacity to produce at least 1 ton of gallium annually. Applicants for the TRACE-Ga funding opportunity must be eligible local entities. The department plans to open project submissions in the coming weeks. [Stock News] OpenAI signs a $300 billion computing power deal with Oracle Corporation (ORCL.US). According to insiders, OpenAI has signed an agreement to purchase approximately $300 billion worth of computing power from Oracle Corporation over about five years, a commitment that far exceeds its current revenue levels. This deal is one of the largest cloud service contracts in history, reflecting the continued rise in expenses for AI data centers despite growing market concerns about a potential AI bubble. The agreement will require 4.5 gigawatts of power capacity, roughly equivalent to the power output of over two Hoover Dams, or about the electricity consumption of four million households. After Oracle Corporation disclosed that it had added $317 billion in new contract revenue for the latest quarter ending August 31, the company's stock price surged by 42% at one point that day, but the increase has since narrowed to 36%. CEO Safra Catz stated that the company had signed contracts with three different clients in the quarter. Alibaba Group Holding Limited Sponsored ADR (BABA.US) plans to issue approximately $3.2 billion in notes, with most of the funds going towards AI-related fields. Alibaba Group Holding Limited Sponsored ADR (BABA.N) announced on the 11th that it plans to issue approximately $3.2 billion in principal amount of zero-coupon convertible senior notes due in 2032. The net proceeds from the issuance of the notes will be used for general corporate purposes, with approximately 80% allocated to enhance cloud infrastructure, including expanding data centers, upgrading technology, and optimizing services to meet growing demand. The remaining 20% will be used to expand international business operations, with a focus on operational investments to enhance the company's market position and efficiency. [Big Bank Ratings] Morgan Stanley lists Amazon.com, Inc. (AMZN.US) as a top pick, bullish on its expansion in the grocery sector. Morgan Stanley has designated Amazon.com, Inc. as a top pick, believing that Amazon.com, Inc.'s expansion in the grocery sector "will unleash sustainable faster growth momentum." Amazon.com, Inc.'s stock price rose by 0.3% in aftermarket trading. Analyst Brian Nowak wrote, "Progress in this area is expected to drive significant growth for Amazon.com, Inc." He noted that the expansion in the grocery sector is a way for Amazon.com, Inc. to "enhance the utilization of its existing leading logistics network and transportation fleet, as well as purchasing volumes" and in the long run, "gaining more consumer data in this key category (including purchasing behavior, brand preferences, etc.) is crucial for Amazon.com, Inc.'s efforts to build the next generation of intelligent grocery services." Morgan Stanley has given Amazon.com, Inc. an "overweight" rating with a target price of $300.