Overnight US stocks | U.S. weekly initial jobless claims unexpectedly fell; the three major indexes closed higher; Intel Corporation (INTC.US) rose over 7.6%.

Thursday, the three major indexes rose collectively after the Fed's rate hike landed, while U.S. weekly initial jobless claims unexpectedly fell. The U.S. Labor Department said Thursday that initial applications for state unemployment benefits fell by 10,000 to a seasonally adjusted 196,000 for the week ended Sept. 12, compared with economists' consensus forecast of 208,000. The unexpected decline likely reflected data volatility during last week's Labor Day holiday. [U.S. Stocks] At the close, the Dow Jones Industrial Average rose 316.14 points, or 0.61%, to 51,778.04; the S&P 500 rose 85.91 points, or 1.14%, to 7,637.72; the Nasdaq Composite rose 439.87 points, or 1.69%, to 26,418.30. SK Hynix (SKHY.US) rose 4.6%, NVIDIA Corporation (NVDA.US) rose 2.5%, AMD (AMD.US) rose 6%, and Intel Corporation (INTC.US) rose over 7.6%. The Nasdaq Golden Dragon China Index rose 0.16%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose 1%, and Bilibili, Inc. Sponsored ADR Class Z (BILI.US) fell 3%. [European Stocks] Germany's DAX30 rose 165.47 points, or 0.65%, to 25,724.35; the U.K.'s FTSE 100 rose 131.67 points, or 1.23%, to 10,820.14; France's CAC40 rose 46.34 points, or 0.57%, to 8,186.93; the Euro Stoxx 50 rose 57.75 points, or 0.92%, to 6,324.25; Spain's IBEX35 rose 200.51 points, or 1.02%, to 19,836.31; Italy's FTSE MIB rose 422.38 points, or 0.81%, to 52,391.50. [Asian Stocks] Japan's Nikkei 225 rose 0.33%, while South Korea's KOSPI edged lower. [U.S. Dollar Index] The U.S. dollar index, which measures the greenback against six major currencies, closed at 100.248 in late foreign exchange trading. As of the close of New York foreign exchange trading, 1 euro traded at $1.1475, up from $1.1470 the previous trading day; 1 pound traded at $1.3353, down from $1.3382 the previous trading day. 1 dollar traded at 156.04 yen, up from 155.92 yen the previous trading day; 1 dollar traded at 0.8248 Swiss francs, down from 0.8250 Swiss francs the previous trading day; 1 dollar traded at 1.3992 Canadian dollars, down from 1.3994 Canadian dollars the previous trading day; 1 dollar traded at 9.8256 Swedish kronor, down from 9.8598 Swedish kronor the previous trading day. [Cryptocurrencies] Bitcoin rose over 1%, trading at 76,509 as of press time; Ethereum rose over 2.4%, trading at $2,450. [Crude Oil] Light crude futures for October delivery on the New York Mercantile Exchange fell 52 cents, or 0.51%, to settle at $101.91 per barrel; Brent crude futures for November delivery in London fell $1.01, or 0.95%, to settle at $104.82 per barrel. [Precious Metals] Spot gold rose 1.8% to $4,341.79 per ounce; spot silver was at $65.207 per ounce. [Macro News] U.S. 30-year mortgage rates rise for a fourth consecutive week, approaching the 7% mark. Fannie Mae said in a statement Thursday that the average rate on a 30-year fixed mortgage in the U.S. rose to 6.95%, up from 6.76% a week earlier. This is the first time the rate has risen to this level since January 2025. By comparison, the rate was 6.26% a year ago. For prospective homebuyers who had hoped for relief in housing loan pressure in 2026, mortgage rates near 7% are undoubtedly the latest blow. After the Fed raised rates by 25 basis points on Wednesday, the market also began to realize that borrowing costs may not decline significantly in the near term. Rising homeownership costs are becoming one of the core issues in the upcoming November midterm elections. Meanwhile, although the Trump administration is trying to boost the housing market through measures such as bond purchases and deregulation, the possibility of a rapid housing market recovery is becoming increasingly unlikely. Estimates from Intercontinental Exchange, Inc. show that for a home priced at an average of $440,000, a typical family's mortgage payment would account for 31% of median household income at current loan costs, the highest level since July 2025. At the same time, homebuilder confidence fell sharply this month, dropping to its lowest level in a year. OpenAI reportedly close to solving another "Millennium Prize" problem. According to reports, earlier this month, OpenAI became embroiled in controversy after being accused by mathematicians of trying to claim credit for their solution to an extremely difficult math problem, but a person familiar with the solution said OpenAI is now close to solving another math problem among the "Millennium Prize Problems." The person said employees expect the next problem, the Hodge conjecture, to be solved soon. However, the person said the company may need longer to announce the solution because it is trying to work with the mathematics community to ensure that the announcement does not trigger another public relations crisis. According to the report, although solving these problems is not cheap, some OpenAI researchers believe that after software engineering, mathematics is the natural next field for its models to explore. The two fields share similar characteristics: both require step-by-step logical reasoning, and the answers produced can usually automatically verify their correctness. Some researchers even believe that the wave of automation that occurred in software engineering over the past year will sweep through mathematics within the next six to nine months. In addition, solving difficult mathematical problems can also help AI developers advance the automation of machine learning researcha field that involves a great deal of mathematics. Bank of England Governor Bailey: Outlook not yet clear, cannot judge market expectations of four rate hikes. When asked whether it is reasonable for the market to price in nearly four rate hikes over the next year, Bank of England Governor Bailey said Thursday that the outlook is too difficult to predict, adding that his officials have not yet discussed this. "We discussed a great deal this time, but we did not discuss the prospect of four rate hikes," Bailey told the media after the Bank of England kept rates unchanged but warned of intensifying inflationary pressures. He added: "The market must form its own judgment, but I must point out: the current situation... is simply too unpredictable." Bailey said conditions in the U.K. gilt marketwhere 30-year yields hit their highest level since 1998 this weekdid not influence the bank's announcement. Bailey said, "We had planned to carry out this work long before the Middle East conflict broke out, so this is not at all a reaction to market conditions." U.S. initial jobless claims fell to 196,000 during the Labor Day holiday week. Last week, U.S. initial jobless claims fell to their lowest level since July, further indicating that the labor market is stabilizing. According to Labor Department data released Thursday, initial jobless claims fell by 10,000 to 196,000 for the week ended Sept. 12. That week included Labor Day, so the data may fluctuate around the holiday. The four-week moving average of new claimsa measure that helps smooth out volatilityfell to 203,250, a five-week low. The decline in initial jobless claims may reflect seasonal fluctuations related to Labor Day and the start of the new school year. Still, the overall trend continues to highlight that, aside from a few high-profile layoff announcements, job cuts across the economy remain relatively mild. Continuing claims fell to 1.73 million last week, the lowest level since 2024. Despite limited layoffs, Americans remain cautious about leaving their jobs due to uneven hiring conditions, further reinforcing a "low hiring, low firing" labor market. U.S. August housing starts unexpectedly decline. New residential construction projects in the U.S. unexpectedly slowed in August, falling to one of the weakest levels since the pandemic, reflecting a sharp drop in multifamily project starts. According to federal government data released Thursday, housing starts fell 2.6% to an annualized 1.28 million units. Multifamily project starts fell nearly 22% to an annualized rate of 357,000 units. Single-family housing starts rose 7.6% to an annualized rate of 918,000 units, the fastest pace since March, mainly driven by growth in the West and Midwest. Although single-family housing starts increased last month, the residential real estate market still faces challenges amid rising mortgage rates and constrained housing affordability. Given that housing inventory remains well above pre-pandemic levels, developers may also be reluctant to accelerate new home construction. UBS Group AG: Fed rate hike has not changed stock market rally; recommends diversification and preparing for volatility. The Fed's rate hike triggered a stock selloff, but the prospect of tighter monetary policy has not deterred market bulls. Mark Haefele, Chief Investment Officer of UBS Group AG Global Wealth Management, said his team remains "positioned for further stock market gains while preparing for near-term volatility." He said: "If tightening remains moderate, credit spreads remain stable, and profits continue to grow, this rally should be expected to broaden to more sectors and regions. We recommend diversifying equity exposure while avoiding excessive concentration in areas that are particularly sensitive to interest rates or dependent on a single return driver." [Individual Stock News] NVIDIA Corporation commits $2 billion to Bruker Corporation Field AI fund. According to investor documents, NVIDIA Corporation (NVDA.US) has committed $2 billion to Bruker Corporation Field Asset Management's (BAM.US) global artificial intelligence infrastructure fund. The investment had been previously disclosed, but the latest filing made the specific amount public for the first time. Bruker Corporation Field said last year that NVIDIA Corporation was one of the anchor investors in the Bruker Corporation Field AI infrastructure fund, with the other anchor investor being the Kuwait Investment Authority. The fund mainly invests in AI infrastructure construction, including factories, dedicated behind-the-meter power solutions, and computing infrastructure. New York-based Bruker Corporation Field has become an important player in providing private capital for AI infrastructure construction. The company is raising $10 billion for the AI infrastructure fund and plans to raise about $50 billion for its infrastructure business over the next two years, with AI set to cover every one of its investment strategies. In addition, Bruker Corporation Field is also one of the members of the $500 billion AI computing infrastructure financing platform led by NVIDIA Corporation. [Major Bank Ratings] UBS Group AG: Cut NIKE, Inc. Class B (NKE.US) price target from $48 to $42.