Overnight US stocks | The three major indices closed mixed; Bitcoin broke through $80,000; Strategy (MSTR.US) rose over 16%.

Friday saw the three major indices close mixed, with Bitcoin breaking through the $80,000 mark in one move and related concept stocks rising in tandem. U.S. crude oil ended the week roughly flat but remained above $100 per barrel. [U.S. Stocks] At the close, the Dow fell 95.39 points, or 0.18%, to 51,682.64, down 1.69% for the week; the S&P 500 rose 12.74 points, or 0.17%, to 7,650.50, down 0.08% for the week; the Nasdaq rose 104.24 points, or 0.39%, to 26,522.54, up 0.72% for the week. Strategy (MSTR.US) rose over 16%, Coinbase (COIN.US) rose over 11%, Robinhood (HOOD.US) rose over 9%, Circle (CRCL.US) rose over 7.8%, SanDisk (SNDK.US) rose 10.99%, SK Hynix (SKHY.US) rose 2.46%, Micron Technology, Inc. (MU.US) rose 3.92%, NVIDIA Corporation (NVDA.US) rose 1.34%; Qualcomm (QCOM.US) fell 5.82%, Dell Technologies, Inc. Class C (DELL.US) fell 3.3%, SpaceX (SPCX.US) fell 1.36%. The Nasdaq Golden Dragon China Index rose 0.78%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose 4.34%. [European Stocks] Germany's DAX30 fell 424.38 points, or 1.65%, to 25,308.88; the UK's FTSE 100 fell 165.12 points, or 1.53%, to 10,651.02; France's CAC40 fell 121.91 points, or 1.49%, to 8,065.02; the Euro Stoxx 50 fell 87.45 points, or 1.38%, to 6,235.45; Spain's IBEX35 fell 334.79 points, or 1.69%, to 19,501.41; Italy's FTSE MIB fell 846.00 points, or 1.61%, to 51,539.50. [Asian Stocks] Japan's Nikkei 225 rose 1.38%, and South Korea's KOSPI rose 2.66%. [U.S. Dollar Index] The U.S. dollar index, which measures the greenback against six major currencies, fell 0.03% on the day to close at 100.222 in the foreign exchange market. As of the close of the New York foreign exchange market, 1 euro traded at $1.1483, up from $1.1475 the previous trading day; 1 pound traded at $1.3391, up from $1.3353 the previous trading day. 1 dollar traded at 156.68 yen, up from 156.04 yen the previous trading day; 1 dollar traded at 0.8221 Swiss francs, down from 0.8248 Swiss francs the previous trading day; 1 dollar traded at 1.3993 Canadian dollars, up from 1.3992 Canadian dollars the previous trading day; 1 dollar traded at 9.8333 Swedish kronor, up from 9.8256 Swedish kronor the previous trading day. [Cryptocurrencies] Bitcoin rose over 6% to break through $80,000, last at 81,126.99 as of publication; Ethereum was at $2,616. [Crude Oil] The price of light crude oil futures for October delivery on the New York Mercantile Exchange fell $1.61 to close at $100.30 per barrel, a decline of 1.58%; the price of London Brent crude oil futures for November delivery fell 95 cents to close at $103.87 per barrel, a decline of 0.91%. [Precious Metals] Spot gold rose 0.85% to $4,378.5 per ounce; spot silver rose 1.61% to $66.254 per ounce. [Macro News] Trump says the U.S. and Denmark have reached an agreement on Greenland security. U.S. President Trump said the United States has reached an agreement with Denmark on Greenland security, saying the arrangement will address U.S. concerns about local security and ensure the United States "permanently" has the capabilities needed to safeguard Greenland and U.S. security. Trump announced on social media that the agreement "addresses all major U.S. concerns" and "does not require the United States to bear costs." However, he did not release the text of the agreement or disclose specific terms. Currently, the United States and Denmark already have a relevant defense agreement allowing U.S. troops to be stationed in Greenland. Trump has long sought to strengthen U.S. influence over Greenland, and his previous stance on the issue had drawn attention from European and NATO allies. Fed's Schmid: Treasury buybacks will not increase the Fed's policy difficulty. Kansas City Fed President Jeff Schmid said the U.S. economy is currently strong and continuing to grow. Schmid said he agrees with Fed Chair Kevin Warsh's explanation of the reasons for rising U.S. Treasury yields, namely that the recent increase in yields was mainly driven by capital demand from artificial intelligence investment and political challenges facing GEO Group Inc, rather than solely by monetary policy factors. Schmid also believes that the U.S. Treasury Department's implementation of a Treasury buyback program will not increase the difficulty for the Fed in conducting monetary policy. U.S. investor sentiment falls to its lowest since 2025. The American Association of Individual Investors (AAII) weekly survey showed that as oil prices remain high and the Fed raises interest rates for the first time since 2023, investor sentiment deteriorated further, falling to its lowest level since 2025. The latest AAII survey released on Friday showed that 53.3% of surveyed investors were bearish, more than half. Only 28.8% of investors were bullish, the lowest level in a year. Charles Rotblut, vice president of AAII, said in a statement that, taken together, the difference between bullish and bearish investors has fallen to -24.5%, a level that is "unusually low" and has been below the historical average of 6.5% for nine consecutive weeks. This is also the lowest level for the indicator since May 2025. The latest survey also showed that more than half of respondents held cash allocations above normal levels, indicating that investors are relatively cautious. Among them, 19.1% of respondents said their cash allocation was "far above normal levels." [Company News] Gemini autonomously accessed external systems for the first time; Alphabet Inc. Class C says no actual damage was caused. Alphabet Inc. Class C (GOOG.US, GOOGL.US) said that the Gemini artificial intelligence model accidentally accessed the internet during a cybersecurity capability test and entered the systems of three companies, the first known case of an Alphabet Inc. Class C AI system autonomously completing such an operation. The incident occurred in May and was tested by security company Irregular. During the test, the Gemini model was executing a task in a "capture the flag" cybersecurity exercise, but because the virtual company names in the test environment were the same as real companies and the model unexpectedly gained internet access, it entered real corporate systems. Alphabet Inc. Class C said that in one incident, the model entered a protected system by trying passwords; in the other two, it found credentials in public online repositories and attempted to access the related systems. After confirming it had accessed real company systems, the model stopped further operations in each case. Alphabet Inc. Class C said the incident caused no damage to the affected companies, so it did not classify it as a model out-of-control event, and said safety mechanisms helped the model stop in time. The affected companies were notified, and Alphabet Inc. Class C also reported the matter to relevant regulators. The incident is similar to previously disclosed safety test events by AI companies such as OpenAI and Anthropic, once again raising concerns about AI models' ability to autonomously perform network operations and about safety protection mechanisms. Multiple NVIDIA Corporation executives disclose stock changes; Jensen Huang sells about 46,000 shares. Several NVIDIA Corporation (NVDA.US) executives disclosed stock transactions to the U.S. SEC, with five executives including CEO Jensen Huang selling nearly 150,000 company shares in total. Among them, Huang sold about 46,000 shares at a transaction price of about $212 per share. Company filings show that most transactions were related to tax handling after restricted stock vesting, meaning the company withheld some shares on behalf of executives to pay taxes, rather than active reductions. NVIDIA Corporation operations executive Debora Shoquist, General Counsel Timothy Teter, and Chief Accounting Officer Scott Gawel also carried out similar operations. CFO Colette Kress, in addition to selling shares for tax purposes, also sold about 35,000 shares through a previously established trading plan. [Major Bank Ratings] Bank of Montreal: Raises Phillips 66 (PSX.US) price target from $260 to $310 Wells Fargo & Company: Lowers Netflix (NFLX.US) price target from $80 to $57. Raises Salesforce (CRM.US) price target from $230 to $250