Overnight US stocks | Three major indexes fell and spot gold fell below the $4000 mark.

On Thursday, the three major indices closed lower. During the trading session, the Nasdaq rose to a high of 23,062.62 points, the S&P 500 rose to a high of 6,754.58 points, both hitting new intraday highs. [US Stocks] At the close, the Dow fell 243.36 points, or 0.52%, to 46,358.42 points; the Nasdaq fell 18.75 points, or 0.08%, to 23,024.63 points; the S&P 500 fell 18.61 points, or 0.28%, to 6,735.11 points. NVIDIA Corporation (NVDA.US) rose nearly 2%, while Alphabet Inc. Class C (GOOG.US), Apple Inc. (AAPL.US), and AMD (AMD.US) all fell around 1%. The Nasdaq Golden Dragon Index fell by 2%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell by 4%, XPeng, Inc. ADR Sponsored Class A (XPEV.US) fell by 5%. New stock Alliance Laundry Holdings (ALH.US) closed up 12.82%. [European Stocks] The German DAX30 index fell by 6.06 points, or 0.02%, to 24,617.53 points; the UK FTSE 100 index fell by 47.32 points, or 0.50%, to 9,501.55 points; the French CAC40 index fell by 18.77 points, or 0.23%, to 8,041.36 points; the Euro Stoxx 50 index fell by 24.38 points, or 0.43%, to 5,625.35 points; the Spanish IBEX35 index fell by 130.30 points, or 0.83%, to 15,575.50 points; the Italian FTSE MIB index fell by 682.24 points, or 1.57%, to 42,802.00 points. [Crude Oil] The price of light crude oil futures for delivery in November on the New York Mercantile Exchange fell by $1.04 to close at $61.51 per barrel, a decrease of 1.66%; the price of Brent crude oil futures for delivery in December fell by $1.03 to close at $65.22 per barrel, a decrease of 1.55%. [Cryptocurrency] Bitcoin fell by over 1.5% to $121,484, while Ethereum fell by over 3.7% to $4,359.47. [US Dollar Index] The US dollar index, which measures the dollar against six major currencies, rose by 0.63% to close at 99.538 in the foreign exchange market. At the close of the New York foreign exchange market, 1 euro exchanged for $1.1547, down from $1.1620 on the previous trading day; 1 pound exchanged for $1.3281, down from $1.3390 on the previous trading day. 1 US dollar exchanged for 153.18 yen, up from 152.70 yen on the previous trading day; 1 US dollar exchanged for 0.8074 Swiss francs, up from 0.8020 Swiss francs on the previous trading day; 1 US dollar exchanged for 1.4031 Canadian dollars, up from 1.3957 Canadian dollars on the previous trading day; 1 US dollar exchanged for 9.5587 Swedish krona, up from 9.4431 Swedish krona on the previous trading day. [Precious Metals] As the US dollar advanced and gold investors took profits after Israel and Hamas reached a ceasefire agreement, the price of gold fell below $4,000 per ounce on Thursday, dropping to below $3,980. Tai Wong, an independent metal trader, said, "As the Gaza ceasefire takes effect, speculators are taking some gold chips off the negotiating table as the ceasefire cools tensions in the Middle East. However, overall confidence in this trade remains largely unchanged. However, gold prices have risen so quickly that there is no real support until $3,850." [Macro News] News: The US Bureau of Labor Statistics is expected to release the CPI report during the shutdown. According to a US government source, despite the federal government shutdown, the US Bureau of Labor Statistics is preparing to release the Consumer Price Index (CPI) data for September. The exact release date is not yet clear, but it is almost certain not to be on the originally scheduled date of October 15th. The agency has stopped all operations during the funding interruption and was unable to release the nonfarm employment report as scheduled last week. According to government sources, the bureau has started recalling some employees to complete the report. The decision to release the data seems to be related to the annual Social Security cost-of-living adjustment program. This adjustment is based on inflation data for the third quarter, so the delayed release of September price data may delay the announcement of the cost-of-living adjustment. In addition, other foreign media reports that the US Bureau of Labor Statistics plans to release the CPI data for September by the end of the month. Federal Reserve Governor Bostic warns against cutting interest rates too quickly, says current rates are moderately restrictive. Federal Reserve Governor Bostic said on Thursday that the Fed should be cautious about cutting interest rates further, showing a clear bias towards inflation risks, although he also acknowledged the "relatively balanced" labor market has potential vulnerabilities. "The committee should be cautious in policy adjustments to allow for more data collection, updated forecasts, and a better assessment of risk balances," Bostic said in a speech to the Minnesota Economic Club. This is his first public comment on monetary policy since June. While Bostic supported the Fed's decision to cut interest rates by 25 basis points last month, he emphasized the impact of tariffs on inflation, suggesting that he does not believe a series of rate cuts as currently expected by financial markets are necessary. He also said, "Given supply and demand shocks, changes in financial markets and financial conditions, labor market performance, and inflation... I believe current rates are only moderately restrictive." Fed data: Bank reserve balances rise for the first time in nine weeks. The reserve balances of the US banking system have risen for the first time in nine weeks, surpassing $3 trillion. This indicator is an important consideration for the Federal Reserve's decision to continue shrinking its balance sheet. According to data released by the Fed on Thursday, reserve balances at banks rose by about $54 billion to reach $3.034 trillion as of the week ending October 8th. Prior to this, reserve balances had been declining for eight consecutive weeks, marking the longest period of decline since July 2020. During the previous decline in reserve balances, the US Treasury increased its borrowing after raising the debt ceiling in July, intensifying its bond issuance to rebuild cash balances. This drew liquidity away from the Fed's other liabilities, such as overnight reverse repurchase agreements (ON RRP) and bank reserves. However, with the so-called ON RRP almost depleted, commercial bank reserves held at the Fed have been declining. Beutel: Agrees to a $20 billion currency swap with Argentine Central Bank. US Treasury Secretary Beutel: Today we bought Argentine pesos directly. The US Treasury Department is prepared to take all necessary special measures to ensure market stability. In addition, we have agreed to a $20 billion currency swap framework with the Argentine Central Bank. We also discussed investment incentives in Argentina and how the US will strongly support investments in our strategic partners. We look forward to a meeting between US President Trump and Argentine President Mile on October 14th. [Stock News] Microsoft Corporation (MSFT.US) predicts that the data center resource shortage crisis will continue until 2026. The duration of Microsoft Corporation's data center shortage will be longer than previously expected, with many data center regions in the US facing physical space or server shortages. According to insiders familiar with the company's internal forecasts, Azure cloud service subscriptions will be restricted in some critical server centers, including Northern Virginia and Texas, until the first half of next year. The lack of servers available for rent to customers has been an ongoing concern for cloud providers, with Microsoft Corporation, Amazon.com, Inc., and Alphabet Inc. Class C all describing similar restrictions. Microsoft Corporation is working to balance customer demand for its data center fleet. Intel Corporation (INTC.US) unveils details of its first PC chip manufactured on its new process technology. Intel Corporation on Thursday unveiled key details of the upcoming Panther Lake laptop processor, the first chip to be manufactured on its next-generation 18A process technology, intended to showcase its high-cost transformation plan's ability to reshape manufacturing advantage. The launch of Panther Lake is aimed at high-end, AI-supported laptops, serving as an important litmus test for Intel Corporation to scale its 18A process technology, as well as a key opportunity to regain PC market share lost to competitor AMD. The Panther Lake processor adopts a System-on-Chip design, typically integrating multiple components such as a graphics processor and central processor onto the same circuit. The processor is expected to begin production this year, with initial products expected to ship by the end of 2025 and a full market launch starting in January 2026. [Big Bank Ratings] HSBC: Raises the target price of Alibaba Group Holding Limited Sponsored ADR (BABA.US) from $190 to $205.