On Wednesday, U.S. stocks rose, with the Dow Jones Industrial Average reaching a new high and the S&P 500 approaching a new high. Investors withdrew from mega-cap stocks, and sector rotation helped small-cap stocks reach a near three-year high. Nvidia gained over 3%, approaching a new high. ASML, which reported disappointing earnings the previous day, fell further, with its U.S. stock price dropping over 6%, hitting a low not seen in nearly a year. The bank stock index once rose over 2%, with Morgan Stanley's stock price soaring 6.5% after its earnings report, reaching a new high. LVMH's European stock once fell 7.5%. Nuclear power stocks surged, with Oklo, a company invested in by OpenAI CEO Altman, rising nearly 42%.
The yield on the 10-year U.S. Treasury note once fell below 4%, reaching the lowest in a week and a half. The U.S. dollar hit its highest in nearly 11 weeks.
The China concept index once rose over 2%, with JD.com once up 3.9%, and NIO fell nearly 2%. The offshore yuan rose to nearly 7.12 before erasing its gains.
In the UK, the September CPI fell below the central bank's target for the first time in three and a half years. Expectations of a rate cut led the pound to its lowest in two months, while UK stocks rose nearly 1% and UK bond yields fell by double digits.
U.S. oil once fell over 1%, breaking $70 again, but the closing loss was significantly reduced. Gold approached its all-time high. Bitcoin rose above $68,000 for the first time since July.
In the Asian session, the ChiNext index closed down over 2%, with the Chengdu-Chongqing板块掀起涨停潮, real estate leading the gains, and chip stocks pulling back, with government bond futures closing down collectively.
Chinese Market: On Wednesday, the A50 index rose slightly, gaining 138 points to close at 13,361, with a daily increase of 1.043%.
Yesterday, the three major A-share indices fluctuated widely, with the Shanghai Composite Index performing slightly stronger. By the close, the Shanghai Composite Index was up 0.05%, the Shenzhen Component Index was down 1.01%, and the ChiNext Index was down 2.21%. In terms of sectors, stocks in the Sichuan and Chongqing areas掀起涨停潮, with Sichuan Changhong, Sichuan Road and Bridge, Chongqing Steel, and others hitting their upper limits; the real estate sector strengthened, with Teva Service, Cinda Real Estate, and others hitting their upper limits; the Huawei HarmonyOS concept was active, with Changliang Technology, Changshan North Ming, and others hitting their upper limits. In addition, the internet finance concept, banking, construction materials, and non-ferrous metals sectors were among the top gainers; diversified finance, brewing, semiconductors, and other sectors were among the top losers, with the total turnover of the two markets exceeding 1.3 trillion yuan.
U.S. Market: The Dow Jones Industrial Average closed up 0.79%, the S&P 500 Index rose 0.47%, and the Nasdaq Composite rose 0.28%. Nvidia (NVDA.O) rose 3%, Apple (AAPL.O) fell nearly 1%, and Intel (INTC.O) fell 1.5%. The Nasdaq Golden Dragon China Index closed up 0.93%, Alibaba (BABA.N) rose 0.35%, NIO (NIO.N) fell nearly 2%, and Ke (BEKE.N) rose 4.5%.European Market: European stock indices showed mixed performance, with the German DAX 30 index closing down by 0.27%; the UK's FTSE 100 index closed up by 0.97%; the Euro Stoxx 50 index closed down by 0.77%.
Commodity Market: Due to weak US Treasury yields, expectations of rate cuts by major central banks, and ongoing geopolitical conflicts providing safe-haven demand, spot gold approached historical highs on Wednesday, reaching a peak of $2,685.41, and ultimately closed up by 0.43% at $2,673.70 per ounce. Spot silver ultimately closed up by 0.62% at $31.67 per ounce.
Oil prices remained near a two-week low on Wednesday, weighed down by forecasts of slowing growth in oil demand. WTI crude oil ultimately closed down by 0.49% at $70.61 per barrel; Brent crude closed down by 0.31% at $74.41 per barrel.
Foreign Exchange Market: On Wednesday, as investors ruled out the possibility of a significant rate cut by the Federal Reserve at the next policy meeting and digested the possibility of Trump winning the election, the US Dollar Index hit an 11-week high, ultimately closing up by 0.29% at 103.52. The benchmark 10-year US Treasury yield closed at 4.0180%; the two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.9500%.
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