On Tuesday Eastern Time, the three major indices of the US stock market collectively closed higher. As of the close, the Dow rose 0.62%, the Nasdaq rose 0.93%, and the S&P 500 index rose 0.73%.
Popular Chinese concept stocks have surged, with the Nasdaq China Golden Dragon Index up nearly 4%, Xiaopeng Motors up over 10%, Bilibili and Ideal Motors up over 7%, and TAL, iQiyi, Tencent Music, and NetEase up over 5%.
Bitcoin hit a new high in 17 months, blockchain concept stocks surged, MarathonDigital rose more than 11%, RiotPlatforms rose more than 10%, and Jianan Technology rose more than 12%.
General Electric rose more than 6%, with its third quarter revenue and adjusted earnings per share exceeding market estimates.
Global News
China will issue an additional 1 trillion yuan of treasury bond to support post disaster recovery and reconstruction and enhance disaster prevention, mitigation and relief capabilities
In the fourth quarter of this year, the central government will issue an additional 1 trillion yuan of treasury bond for 2023. All the additional treasury bond will be distributed to the local governments through transfer payments, focusing on supporting post disaster recovery and reconstruction and making up for the shortcomings in disaster prevention, mitigation and relief, so as to improve China's ability to withstand natural disasters as a whole. On the 24th, the sixth meeting of the Standing Committee of the 14th National People's Congress passed the resolution of the Standing Committee of the National People's Congress on approving the State Council's issuance of additional treasury bond and the 2023 central budget adjustment plan, clarifying the above arrangements.
The First Meeting of the China US Economic Working Group
According to the consensus reached during the July talks in Beijing by Vice Premier of the State Council and China US economic and trade leader He Lifeng, as well as US Treasury Secretary Janet Yellen, the first meeting of the China US Economic Working Group was held via video on October 24th. This meeting is chaired by deputy ministerial level officials from the finance ministries of both countries. The two sides had in-depth, candid, and constructive communication on topics such as the macroeconomic situation and policies of the two countries and the world, bilateral economic relations, and cooperation in addressing global challenges. China has expressed its concerns. Both parties will continue to maintain communication.
How did the "US debt storm" blow down the pillars of the US economy? Understand the four images
As is well known, the longer the Federal Reserve keeps high interest rates high, the more pain consumers, as the "strongest pillar of the US economy," will face, and there are signs that the impact of the recent surge in US bond yields has begun to show. Over the past month, US bond yields have risen significantly, and the US bond market has experienced one of the most severe crashes in history. Just last Friday, the 10-year US bond yield hit 5% for the first time, reaching its highest level since 2007. The rise in bond yields can particularly cause trouble for consumers, as it can affect the overall borrowing costs of the economy. There are signs that this may have begun to put pressure on Americans, as their financial situation seems more unstable as savings decrease.
The GDP growth rate in the third quarter of the United States may double! Where has the once anxious recession on Wall Street gone?
For the Biden administration, which is eager to prove its governing ability in next year's general election, this Thursday may be a golden window for them to boost their momentum and boast about themselves - as GDP data released by the US Department of Commerce on that day is likely to show that the annualized quarterly rate of the US real GDP in the third quarter has "doubled" compared to the first two quarters of this year... Although the US economy is currently facing rising borrowing costs There are many obstacles such as the resumption of student loan repayment, and wars are still raging in Ukraine and the Middle East. However, recent economic data shows that the US economy is still accelerating growth!
Historical reproduction? The situation between Palestine and Israel may disrupt the inflation path, and the Federal Reserve faces another challenge
The recent warming of the situation between Palestine and Israel has once again disturbed investors' nerves, and the abnormal changes in crude oil prices have brought back the shadow of energy inflation. For central banks sprinting towards the "last mile" price target, this may mean that interest rates need to remain at higher levels for a longer period of time, posing significant risks to the recovery. Some market participants believe that the recent fluctuations in US bond yields partially reflect this expectation, and investors have begun to take precautions against potential risks.
The Biden government plans to establish 31 regional technology centers, with nearly 75% located in small cities
On the 23rd local time, US President Biden and US Commerce Secretary Raymond announced the designation of 31 regional technology centers from over 370 applications across the United States to promote innovation, strengthen manufacturing, and create high paying jobs across the country. We will invest in key technologies such as biotechnology, critical materials, quantum computing, and advanced manufacturing, and the United States will once again lead the world in comprehensive innovation, "Biden said in a statement." I firmly believe that the United States will take off in related fields
Will spot ETFs be approved? Bitcoin prices hit a new high within the year, with 100000 people selling out 2.953 billion yuan
On Tuesday morning, Bitcoin broke through $35000 and briefly rose to $35919, with a daily maximum increase of 20% - the first time Bitcoin has broken through $35000 since 2023. According to CoinMarketCap, a third-party data service provider, as of publication, Bitcoin reported a revenue of $33959 and Ethereum reported a revenue of $1810. According to Coinglas data, in the past 24 hours, a total of 94059 people across the network have sold out positions of $399 million (approximately RMB 2.953 billion), including $221 million in Bitcoin and $58.62 million in Ethereum.
Company Message
Is the apple really moving? Plans to spend $1 billion annually on AI's new Siri and "Family Bucket" products are currently under development
When a series of artificial intelligence tools represented by ChatGPT swept across the entire technology industry, Apple was caught off guard, but the latest news shows that the company is actively preparing for countermeasures. According to the latest report by renowned technology journalist Mark Gurman, Apple is developing tools based on generative AI technology for a full range of devices, including a new version of Siri, which is expected to be launched next year. CEO Tim Cook stated that Apple has been committed to generative AI technology for many years. According to insiders, Apple was caught off guard by the sudden AI craze and has been racing to accelerate the development of AI related tools since the end of last year.
Nvidia is said to be designing PC chips based on Arm architecture, which could be sold as early as 2025
According to sources quoted by the media, Nvidia has started designing a central processing unit (CPU) based on the Arm architecture, which will pose a significant challenge to Intel. According to insiders, NVIDIA has quietly started designing CPUs that run Microsoft's Windows operating system and adopted ARM's technology. It is reported that AMD also plans to produce CPUs based on Arm architecture. The PC chip market has long been dominated by x86 architecture, which is owned by Intel but also licensed to AMD for use.
Tesla is in big trouble again! The US Department of Justice has issued a subpoena and requested confidential files from him
Tesla stated on Monday that the US Department of Justice has requested documents from the company and issued subpoenas to review issues such as the company's driving assistance system Autopilot and vehicle mileage. Tesla stated in a document submitted to the US Securities and Exchange Commission that it has received a request for information from the US Department of Justice, including subpoenas. This includes requesting documents related to Tesla's autonomous driving and FSD (fully autonomous driving) functions, as well as other information related to personal interests, related parties, vehicle range, and personnel decisions.
There are great difficulties! Novo Nordisk also has its own "weight issue"
If you ask about the most popular hype topic in the market this year, there must be a place for the "slimming elixir". Just last month, luxury goods giant LVMH has relinquished its position as the most valuable listed company in Europe to weight loss drug leader Novo Nordisk. The latter's weight loss drugs Ozempic and Wegovy have been highly sought after by the market, and their stock prices have risen by 45% this year. But the constantly expanding market value has also brought some problems to this Danish pharmaceutical company. The total market value of the 25 companies that make up the OMX Copenhagen 25 index is currently about $750 billion, while the market value of Novo Nordisk is as high as $430 billion.
Disney is Exposed to Sell Control of Its Indian Business: Asia's richest man with a valuation of approximately $10 billion Interested in Taking Over
American entertainment giant Disney has been revealed to be selling its controlling stake in its Indian business, with Mukesh Ambani, the richest man in Asia and an Indian, as the receiver. On October 23rd, according to foreign media reports, Reliance Industries Ltd. (hereinafter referred to as "Reliance"), a company controlled by Mukesh Ambani, will acquire Walt Disney Co.'s Indian business in a cash and stock exchange. According to the latest data on Forbes' official website, Mukesh's personal wealth value is approximately $83.4 billion, ranking ninth globally and first in Asia.