Eastern time on Wednesday, the three major indexes of the US stock market shook up, as of press, the Dow was down 0.14%, the Nasdaq was up 0.21%, and the S&P 500 was down 0.02%.
Gold stocks surged, with Harmony Gold up more than 7%, Goldfields up more than 6% and AngloGold up more than 5%.
Among individual stocks, ExxonMobil fell more than 4 percent after it agreed to buy Pioneer Natural Resources for $253 a share, giving the company about 16 billion barrels of oil equivalent in the Permian Basin. Biotech company Tempest surged more than 1,000 percent, triggering multiple trading suspensions. Tempest Therapeutics today reported favorable new and updated data from the global randomized study of TPST-1120 first-line hepatocellular carcinoma, showing clinical benefits across multiple study endpoints. It should be noted that the company is currently worth less than $40 million.
Most popular Chinese stocks rose, with Shell up more than 3 per cent, Bilibili and New Oriental up more than 2 per cent.
World News

Tech giants' fall is not over Bank of England warns US tech stocks are overvalued
The Bank of England has warned that valuations of US technology stocks may be too high given the current macroeconomic backdrop and soaring interest rates. "Given the impact of rising interest rates and the uncertainties associated with inflation and growth, valuations of some risk assets appear stretched," the boe's Financial Policy Committee said on Tuesday. "If downside risks to growth materialise, stretched valuations of risk assets increase the likelihood of a sharper correction in prices."
Fed Daly 'doves' : Tighter financial conditions The Fed may not need to raise interest rates again
San Francisco Fed President Mary Daly said in a speech Tuesday that the neutral rate may be higher now than it was before the pandemic, but rates will not remain at their current high levels indefinitely. She also noted that financial conditions have tightened recently and the Fed may not need to do as much more. Speaking at a City Hall event in Chicago on Tuesday, Daley said, "5 percent is not going to be the new neutral rate. There is no evidence that this will be the new neutral rate - this is still the policy rate that is trying to fight high inflation."
The cold reality is that emerging market equities are the weakest performer in 36 years relative to U.S. stocks
Investors in emerging markets may be facing a harsh reality: they have fallen to their lowest level in 36 years, relative to their US counterparts. As the Israeli-Palestinian conflict intensified over the weekend, raising fears of escalating geopolitical tensions, the MSCI emerging Markets index closed on Monday at its lowest level relative to the US S&P 500 since 1987. While the emerging markets benchmark gained nearly 1 per cent on Tuesday, helping the ratio recover a bit, the overall pattern of strength and weakness clearly cannot be easily reversed.
A gas pipeline in Europe suddenly leaked! Finnish President: Maybe it was an "external act"
According to the Xinhua News Agency on October 11, the office of the Finnish President issued a statement on the 10th that the recent damage to the natural gas pipeline connecting Finland and Estonia may be caused by "external acts". Finnish President Sauli Niinisto said in a statement that Finland and Estonia will continue to cooperate in the investigation. He also spoke with NATO Secretary General Jens Stoltenberg on the same day to discuss the damage to the gas pipeline, and NATO is willing to assist in the investigation. The statement said the incident has no immediate impact on Finland's gas supply. According to reports, the leak point has been identified in Finland's exclusive economic zone. The Finnish National Bureau of Investigation has launched an investigation into the incident.
There's a black swan on the move! Argentina's black market exchange rate is fast hitting record highs
As the world watches the Israeli-Palestinian conflict, Argentines in South America are enjoying a historic moment as the black-market dollar exchange rate for the Argentine peso hit an unprecedented 1,040 on Tuesday, losing almost a quarter of its value in just one week. It is also related to Argentina's upcoming general election on October 22. The presidential front-runner, Javier Millay, has put forward a very radical economic platform, the most famous of which is to abolish the local currency and fully adopt the dollar.
Company news

Can "Slimming God medicine" cure kidney disease? Novo Nordisk announces promising new GLP-1 drug development
semaglutide, the "miracle drug" for weight loss, promises to expand even further - not only to lose weight, but perhaps to treat kidney disease. On October 10, Novo Nordisk announced that the Phase 3 clinical trial of Simeaglutide to treat kidney failure and chronic kidney disease in patients with type 2 diabetes was stopped nearly a year early after an interim analysis showed the trial was successful - the interim data was summarized by the Independent Data Monitoring Committee (IDMC) overseeing the study. The efficacy has reached the predetermined target of early termination of the trial, so it is recommended to stop FLOW clinical. Clinical results for Novo Nordisk are still blind, and data are expected to be available in the first half of 2024.
The proportion of TSMC AI orders next year is said to be expected to hit a new high
According to the industry, the proportion of artificial intelligence (AI) orders of TSMC in 2024 is expected to increase by about 6% compared with this year, and reach a record high, becoming one of the main driving forces of the company's operation next year. Current data provided by TSMC shows that AI-related needs (including AI processors that perform training and inference functions such as cpus, Gpus, and AI accelerators) account for about 6% of TSMC's total revenue. It is reported that TSMC's six AI customer bases will increase their demand for film casting next year. These six AI customer groups include Nvidia, Chaowei, Tesla, Apple, Intel, and international manufacturers that develop their own AI chips and invest in TSMC.
The biggest oil and gas deal in 20 years is coming: Why is ExxonMobil betting on shale oil?
Exxonmobil's acquisition news dropped a bomb on the global oil industry. According to the Wall Street Journal, Reuters and other sources quoted familiar with the matter reported that the oil giant is about to acquire Pioneer Natural Resources (PXD), a US shale oil and gas company with a current market value of about $54.933 billion, for about $60 billion. Nasdaq, hereinafter referred to as Pioneer Corporation). Bloomberg reported on Oct. 10 that ExxonMobil would pay at least $250 per share for Pioneer, which would value the deal at least $58.285 billion based on Pioneer's outstanding shares. A deal could be announced as early as October 11.
iPhone15 series mobile phone price diving new machine problems keep consumers difficult to return?
Since the iPhone15 series of mobile phones have been fully sold, their prices in third parties have continued to plunge. On October 10, the Securities Daily reporter visited a number of Apple stores and found that a number of models of the new iPhone15 series of mobile phones were still in a state of no goods, requiring reservations and a delivery cycle of about 1 month, but few consumers came to consult, relatively cold.
General Motors and its Canadian union quickly reached a deal to end a 13-hour strike
According to multiple media reports, local time on Tuesday (October 10), the United States General Motors and the Canadian union Unifor reached a provisional agreement to end the strike launched 13 hours ago at three GM plants in Ontario. Unifor represents about 18,000 workers at the Canadian plants of the Big Three automakers in Detroit, including about 4,300 workers at General Motors. In the absence of an agreement with GM, Unifor went on strike at midnight at its Oshawa assembly plant, St. Catharines Powertrain plant and Woodstock parts distribution center.