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Integrated Circuits (Chips): 1. Nvidia is fully shifting its technological development focus to its next-generation product, the SOCAMM2. 2. Micron Technology has suspended NAND flash memory and DRAM pricing for a week, with the market predicting price increases. 3. Nvidia is considering being the first to adopt TSMCs most advanced process, the A16 process, which will enter mass production in the second half of next year. Others: 1. OpenAI released GPT-5-CODEX. 2. Version 2.0 of the "AI Security Governance Framework" has been released. 3. Lei Jun: The Xiaomi 17 series is a comprehensive competitor to the iPhone. 4. The US Secretary of Energy stated that nuclear fusion power generation could be possible within eight years. 5. Nvidia is requiring suppliers to develop MLCP technology, with a unit price 3-5 times that of existing cooling solutions. 6. Xiaomis Lu Weibing: R&D investment will increase to 200 billion RMB over the next five years. 7. Elon Musk: The Samsung factory in Texas will produce AI6 chips, not AI5 chips, and a decision on whether to use high-bandwidth memory (HBM) has not yet been made. Nuanwa Insight, an AI technology company in the insurance industry, has applied for an IPO in Hong Kong.1. All three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.11%, the S&P 500 up 0.47%, and the Nasdaq up 0.94%. Both the S&P 500 and Nasdaq reached new all-time highs. Amazon and Apple rose over 1%, leading the Dow. The Wind S7 Index rose 1.53%, with Google up over 4% and Tesla up over 3%. Most Chinese concept stocks rose, with Pony.ai rising nearly 11% and Li Auto up nearly 7%. 2. U.S. Treasury yields fell across the board, with the 2-year Treasury yield down 2.30 basis points to 3.526%, the 3-year Treasury yield down 3.32 basis points to 3.494%, the 5-year Treasury yield down 3.30 basis points to 3.600%, the 10-year Treasury yield down 3.64 basis points to 4.034%, and the 30-year Treasury yield down 2.80 basis points to 4.653%. 3. International precious metal futures generally closed higher, with COMEX gold futures up 0.90% at $3,719.50/oz and COMEX silver futures up 0.84% at $43.19/oz. US President Trumps pressure on the Federal Reserve to cut interest rates has sparked market concerns, and deteriorating US employment data has reinforced expectations of a rate cut. 4. International oil prices rose slightly, with the main US crude oil contract up 0.94% at $63.28/barrel; the main Brent crude oil contract rose 0.69% to $67.45/barrel. 5. Most base metals closed higher in London, with LME copper futures up 1.21% at $10,189/ton, a 15-month high; LME zinc futures up 0.85% at $2,982/ton; LME nickel futures up 0.22% at $15,425/ton; and LME aluminum futures up 0.56% at $2,704.5/ton.September 16th news, in the procedural vote held by the Senate on Monday, the senators cleared the procedural obstacles of Milans confirmation vote with a majority of 50 votes in favor and 44 votes against. The economic adviser of Trump is just one step away from joining the Federal Reserve as a governor. The final vote will be held later on Monday. If confirmed, Milan will be able to walk into the Federal Reserves office in Washington on Tuesday morning and participate in the Federal Open Market Committee (FOMC) interest rate policy meeting scheduled for Tuesday and Wednesday in time.On September 16th, local time, the Russian Ministry of Defense released a battle report stating that Russian forces had taken control of the Olgovskoye settlement in the Zaporizhia region. Over the past day, Russian army groups continued to attack Ukrainian personnel and equipment in the Sumy, Kharkiv, Donetsk, Zaporizhia, and Kherson regions. The same day, the Ukrainian Armed Forces General Staff reported that as of 10:00 PM that day, 173 battles had occurred along the front lines. Ukrainian forces had repelled multiple Russian attacks in the Liman, Toretsk, and Pokrovsk regions.

S&P 500 Struggling to Find Direction Ahead of Powell’s Speech on Wednesday

Steven Zhao

Nov 30, 2022 16:12

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Following encouraging developments in China overnight and U.S. housing statistics that revealed a further drop in home values, the major US stock indices are anticipated to open Tuesday with mixed results.


Investors are putting their faith in China's early exit from COVID-related curbs.


Tuesday's early loss in the broad S&P 500 and NASDAQ Indexes was reversed after China reported a drop in new COVID-19 infections for the period ending November 28. According to CNBC calculations using Wind Information data, the nation reported that local illnesses, the majority of which lacked symptoms, totaled 38,421, down from a record high of 40,052 reported on Sunday.


The data showed that on November 19, the daily case count decreased from the day before.


On Monday, there was also no sign of any fresh demonstrations. Students and other groups protested the strict zero-COVID policy in China over the weekend by holding rallies in front of the public.


As a result of this announcement, markets rose overnight on expectations that China might lift its COVID restrictions sooner than expected.