Preview of US Stock Market | Three major stock index futures rose together, and progress was made in the China-US trade negotiations.

1. Before the market in the United States on Monday, the futures of the three major U.S. stock indexes rose together. As of the time of publication, Dow futures rose by 0.51%, S&P 500 index futures rose by 0.82%, and Nasdaq futures rose by 1.25%. 2. As of the time of publication, the Germany DAX index fell by 0.05%, the UK FTSE 100 index rose by 0.14%, the France CAC40 index fell by 0.15%, and the European Stoxx 50 index rose by 0.26%. 3. As of the time of publication, WTI crude oil fell by 0.16% to $61.40 per barrel. Brent crude oil fell by 0.26% to $65.07 per barrel. Market News Li Chenggang: China and the United States reach preliminary consensus on dealing with multiple important economic and trade issues. From October 25th to 26th, local time, China and the United States held economic and trade consultations in Kuala Lumpur. Li Chenggang, China's chief international trade negotiator and Deputy Minister of Commerce, told Chinese and foreign media after the consultations that the two sides have reached a preliminary consensus on properly addressing a number of important economic and trade issues of mutual concern, and the next step is to go through their respective domestic approval procedures. Big week ahead! The Fed's rate cut seems likely, the earnings reports of five tech giants and the meeting between the U.S. and Chinese leaders are the focus of the market. This week will be extremely busy for investors- the Fed will announce its latest rate decision, a large number of companies will release earnings reports, and it was announced earlier by the White House that the U.S. and Chinese leaders will hold a bilateral meeting during the APEC summit. The Fed will announce its latest rate decision early Thursday morning Beijing time. The market is currently pricing in a 25-basis-point rate cut for the Fed this week. In addition, the European Central Bank and the Bank of Japan will also announce their rate decisions on Thursday. In terms of corporate earnings, investors will face the most critical week. The five tech giants- Microsoft Corporation (MSFT.US), Amazon.com, Inc. (AMZN.US), Apple Inc. (AAPL.US), Alphabet (GOOGL.US), Meta (META.US)- will all release earnings reports this week. The U.S. stock market faces a "crucial 48 hours"! The AI investment feast faces a moment of truth, will tech stock earnings reports extend the bull market? The next two crucial trading days are likely to determine the market trend for the remainder of the year. On Wednesday and Thursday, five companies that constitute about one-fourth of the S&P 500 index- Microsoft Corporation (MSFT.US), Alphabet Inc. Class C parent company Alphabet (GOOGL.US), Meta (META.US), Amazon.com, Inc. (AMZN.US) and Apple Inc. (GOOGL.US)- will release their earnings reports. Investors will not only get an insight into the business of these companies (covering areas ranging from cloud computing and e-commerce to electronic devices and digital advertising), but also focus on their outlook for the development of artificial intelligence. Investments in artificial intelligence technology have driven the current bull market in U.S. stocks over the past three years, but many questions remain about when these companies will see returns from these investments, which could dampen investor enthusiasm. The Fed is expected to continue cutting rates this week, but internal divisions may hinder further easing measures. The Fed is expected to cut rates for the second time in a row this week to support a weakened job market. However, if someone proposes to continue the easing cycle after October, this could face renewed opposition from some officials, as some officials still have concerns about inflation. Although the doves at the Fed currently have the upper hand in the debate and have successfully pushed for rate cuts, some policy makers are concerned that the rate cuts may be too aggressive. The latest data on consumer prices released last Friday showed that core inflation in the United States in September dropped to the lowest level in three months. While this data provided support for the Fed's rate cut plan, the overall cooling of inflation has stalled, and has not provided strong support for the argument of "further multiple rate cuts." Top five candidates for the next Fed chair confirmed, final selection to be announced by the end of the year. U.S. Treasury Secretary Benson confirmed on Monday the final list of five candidates to replace Fed Chairman Powell. U.S. President Trump said he expects to make a final decision by the end of this year. Benson revealed on "Air Force One" that the candidate list has been narrowed down to five individuals, including current Fed board members Christopher Waller and Michelle Bowman, former Fed board member Kevin Warsh, White House National Economic Council Director Kevin Hassett, and BlackRock, Inc. executive Rick Ried. Benson, who is leading the selection process, reiterated that he plans to conduct a new round of interviews and expects to submit a "high-quality candidate list" to Trump after the Thanksgiving holiday. Trump himself also said that he expects to finalize the nomination by the end of this year. Stock News Strong production and sales boost performance! Daqo New Energy Corp Sponsored ADR (DQ.US) Q3 revenue increased by over 23% year-on-year. Daqo New Energy Corp Sponsored ADR reported a non-GAAP EPADS of $0.05 for the third quarter of 2025; revenue was $2.446 billion, an increase of 23.2% year-on-year, an increase of $67.82 million. Daqo New Energy Corp Sponsored ADR produced 30,650 tons in the third quarter of 2025, compared to 26,012 tons in the second quarter of 2025, and sold 42,406 tons in the third quarter of 2025, compared to 18,126 tons in the second quarter of 2025. Daqo New Energy Corp Sponsored ADR's total production cost in the third quarter of 2025 significantly decreased, with an average total production cost of $6.38 per kilogram, compared to $7.26 per kilogram in the second quarter; Daqo New Energy Corp Sponsored ADR's cash cost in the third quarter of 2025 was $4.54 per kilogram, compared to $5.12 per kilogram in the second quarter. Trump family endorses American Bitcoin (ABTC.US), increases holdings of 1414 Bitcoins, cumulative holdings close to 4000 Bitcoins. American Bitcoin, a Bitcoin mining company supported by the two sons of U.S. President Trump, announced on Monday that the company has increased its holdings of approximately 1414 Bitcoins. In response to this news, American Bitcoin's pre-market stock price briefly rose by over 8%. As of October 24th, the company holds approximately 3865 Bitcoins through self-mining and strategic acquisitions, including custodial assets and Bitcoins pledged for mining machine purchases under an agreement with Bitmain. Expanding into the European market, Amazon.com, Inc. (AMZN.US) plans to invest $1.6 billion in the Netherlands. Amazon.com, Inc. announced on Monday that it plans to invest 1.4 billion (approximately $16.3 billion) in the Netherlands in the next three years. The company stated that this is its largest investment in the fifth largest economy in the Eurozone since starting operations in the Netherlands in 2020. Amazon.com, Inc. has around 1,000 employees in the Netherlands and its online sales lag behind market leader and retail company Ahold Delhaize's subsidiary Bol.com. Amazon.com, Inc.'s regional head for the Benelux economic alliance, Eva Fett, said: "The Netherlands is an important growth market for us. These investments will allow us to better serve customers and improve our services." Novartis AG Sponsored ADR Pharmaceuticals (NVS.US) accelerates its "buy-buy-buy" strategy: acquires Avidity (RNA.US) for $12 billion, its largest deal in nearly ten years. Swiss pharmaceutical company Novartis AG Sponsored ADR Pharmaceuticals has agreed to acquire American biotechnology company Avidity Biosciences for an estimated $12 billion. Novartis AG Sponsored ADR Pharmaceuticals said it will acquire at a cash price of $72 per share, a premium of 46% over Avidity's closing price last Friday. Avidity surged by over 40% pre-market. Novartis AG Sponsored ADR Pharmaceuticals stated that the equity value of this transaction is $12 billion, but after the deal is completed, Avidity is expected to have approximately $1 billion in cash, giving it an enterprise value of around $11 billion. This makes it Novartis AG Sponsored ADR Pharmaceuticals' largest acquisition deal in nearly ten years. Apple Inc. (AAPL.US) plans to introduce the same cooling system as the iPhone 17 Pro for the iPad Pro 2027. Apple Inc. plans to introduce the same vapor chamber (VC) cooling system as the iPhone 17 Pro in the iPad Pro set to be released in 2027. This move is part of Apple Inc.'s strategy to enhance device performance and further differentiate the high-end iPad Pro from the iPad Air. It is reported that Apple Inc. first introduced the VC cooling system in the iPhone 17 Pro and Pro Max models. Although this technology has long been used by companies like Samsung, Apple Inc. is still promoting it as a flagship selling point, allowing devices to maintain a comfortable body temperature when running large games, video editing, or artificial intelligence (AI) tasks. The M5 iPad Pro with a screen size of 11 inches and 13 inches does not adopt the same VC cooling system design. However, the iPad Pro with the M6 chip set to be released in 2027 will be equipped with the VC cooling system. Important economic data and events preview 22:30 Beijing time: U.S. Dallas Fed Manufacturing Activity Index for October. Earnings Preview Tuesday morning: NXP Semiconductors NV (NXPI.US) Tuesday pre-market: Nomura (NMR.US), Novartis AG Sponsored ADR Pharmaceuticals (NVS.US), HSBC (HSBC.US), New Oriental Education & Technology Group, Inc. Sponsored ADR (EDU.US), NextEra Energy (NEE.US), UnitedHealth Group Incorporated (UNH.US), Royal Caribbean Cruises (RCL.US), United Parcel Service (UPS.US), PayPal (PYPL.US)