Overnight US stocks | The three major indexes continue to hit new highs, Apple Inc. (AAPL.US) market value surpasses 4 trillion US dollars.
As of the close, the Dow rose 161.78 points, an increase of 0.34%, to 47,706.37 points; the Nasdaq rose 190.04 points, an increase of 0.8%, to 23,827.49 points; the S&P 500 index rose 15.73 points, an increase of 0.23%, to 6,890.89 points.
On Tuesday, the three major indices continued to reach new highs, with Apple Inc. (AAPL.US) market value briefly surpassing 4 trillion US dollars during intraday trading, becoming the third large technology company to reach this milestone.
[US Stock] At the close, the Dow rose 161.78 points, or 0.34%, to 47,706.37 points; the Nasdaq rose 190.04 points, or 0.8%, to 23,827.49 points; the S&P 500 rose 15.73 points, or 0.23%, to 6,890.89 points. NVIDIA Corporation (NVDA.US) rose nearly 5%, closing with a market value of 4.89 trillion US dollars. Tesla, Inc. (TSLA.US) rose nearly 2%, Intel Corporation (INTC.US) rose 5%, and Nokia Oyj Sponsored ADR (NOK.US) rose 23%. The Nasdaq Golden Dragon Index closed down 1.2%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell more than 1%, and Bilibili, Inc. Sponsored ADR Class Z (BILI.US) rose 5%.
[European Stock] The German DAX30 index fell 20.62 points, or 0.08%, to 24,288.20 points; the UK FTSE 100 index rose 50.58 points, or 0.52%, to 9,704.40 points; the French CAC40 index fell 22.60 points, or 0.27%, to 8,216.58 points; the Euro Stoxx 50 index fell 8.11 points, or 0.14%, to 5,702.95 points; the Spanish IBEX35 index rose 97.30 points, or 0.61%, to 16,091.50 points; the Italian FTSE MIB index rose 228.43 points, or 0.53%, to 43,140.00 points.
[Crude Oil] The price of light crude oil futures for delivery in December on the New York Mercantile Exchange fell by 1.16 US dollars, closing at 60.15 US dollars per barrel, a decrease of 1.89%; and the price of Brent crude oil futures for delivery in December fell by 1.22 US dollars, closing at 64.40 US dollars per barrel, a decrease of 1.86%.
[Cryptocurrency] Bitcoin fell more than 1.4%, trading at 113,012.49 US dollars; Ethereum fell more than 2.6%, falling below the 4,000 US dollar mark.
[US Dollar Index] The US dollar index, which measures the US dollar against six major currencies, fell 0.12% on the day, closing at 98.667 in the foreign exchange market. At the close of the New York foreign exchange market, 1 euro was exchanged for 1.1662 US dollars, higher than the 1.1650 US dollars of the previous trading day; 1 pound was exchanged for 1.3280 US dollars, lower than the 1.3338 US dollars of the previous trading day. 1 US dollar was exchanged for 152.11 Japanese yen, lower than the 152.82 Japanese yen of the previous trading day; 1 US dollar was exchanged for 0.7930 Swiss francs, lower than the 0.7952 Swiss francs of the previous trading day; 1 US dollar was exchanged for 1.3942 Canadian dollars, lower than the 1.3993 Canadian dollars of the previous trading day; 1 US dollar was exchanged for 9.3614 Swedish Krona, lower than the 9.3758 Swedish Krona of the previous trading day.
[Precious Metals] The price of gold continued a downward trend this week, with spot gold closing at 3952.22 US dollars.
[Macro News]
US October Consumer Confidence Index hits a six-month low. Due to pessimism about the economic and labor market prospects, US consumer confidence fell for the third consecutive month in October. Data from the US Conference Board shows that its confidence index dropped from a revised 95.6 in September to 94.6, the lowest level since April this year. Economists had expected a median of 93.4. The Conference Board's expectations index for the next six months in October fell to 71.5, the lowest since June, while the present situation index increased slightly. Overall, consumer confidence remains below last year's levels, reflecting concerns about the labor market and living costs. Job growth has slowed significantly, inflation remains higher than the Federal Reserve's target, and Trump's tariff policy continues to exacerbate economic uncertainty. The data shows that the proportion of consumers who think "jobs are hard to get" has slightly increased to 18.4%, while the proportion who think "jobs are plentiful" has increased to 27.8%. The gap between these two is a key indicator economists use to measure the job market.
US August house prices continued to cool. Due to high mortgage rates, US house price growth slowed further year-on-year in August, as the market transitions from the price spikes during the pandemic to a more widespread rebalancing phase. The S&P/Case-Shiller National Home Price Index shows that house prices in the US rose by 1.5% in the 12 months ending in August, lower than the 1.6% in July, marking the slowest year-on-year growth in over two years. Nicholas Godek, head of fixed income and commodities at S&P Global, said, "For the fourth consecutive month, house price gains lagged inflation, which means that even though nominal prices are slightly rising, homeowners' real wealth is still shrinking." He pointed out that more than 6.5% of mortgage rates continue to suppress demand from buyers during what should have been a peak season for transactions.
[Individual Stock News]
Apple Inc. plans to equip MacBook Air, iPad Air, and other products with OLED screens. According to reports, Apple Inc. (AAPL.US) is preparing a major upgrade for its MacBook Air, iPad Mini, and iPad Air product lines, equipping these popular devices with higher-end display screens. Sources reveal that Apple Inc. is currently testing new versions of these products, all featuring OLED screens, which can display more vivid colors and deeper contrast compared to the existing LCD screens. It is reported that the iPad Mini may be the first of these three products to receive an upgrade, with a version equipped with an OLED screen expected to be released as soon as next year. The new technology is expected to raise prices. The updated version of the iPad Mini may increase in price by about $100. On Tuesday, Apple Inc.'s market value surpassed 4 trillion US dollars for the first time, becoming the third large technology company to reach this milestone. The strong demand for its latest iPhone has alleviated concerns about its slow progress in artificial intelligence competition. Since the release of the new models on September 9th, Apple Inc.'s stock price has risen by about 13%, achieving positive growth for the first time this year. Chris Zacarelli, Chief Investment Officer of Northlight Asset Management, said, "The iPhone contributes more than half of Apple Inc.'s profit and revenue, selling more phones can bring more users into its ecosystem." In addition, OpenAI has completed the long-awaited restructuring, leading to its largest external shareholder, Microsoft Corporation (MSFT.O), reaching a market value of 4 trillion US dollars once again, a milestone the company had reached at the end of July.
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