The three major indexes of the US stock market closed slightly higher, with the Dow Jones Industrial Average rising 0.09%, the Nasdaq rising 0.08%, and the S&P 500 index rising 0.01%. Large tech stocks had mixed gains and losses, with Nvidia rising over 1%, Tesla falling over 3%, and Amazon, Google, and Microsoft falling less than 1%. The semiconductor equipment and materials, computer hardware, and oil and gas sectors rose, with Nano Micro Semiconductor up over 7%, Kelei and AMD up over 3%, Total up over 2%, and HP, Qualcomm, NXP, Shell, and ExxonMobil up over 1%. Brand clothing and department store stocks fell, with Nike falling more than 6%, Kohler's falling more than 5%, and Adama falling more than 2%.
The Nasdaq China Golden Dragon Index closed up 4.93%, popular Chinese concept stocks surged, Bilibili rose over 10%, Futu Holdings, Pinduoduo, Ideal Auto, Pinduoduo, JD.com rose over 4%, Xiaopeng Motors rose over 3%, and Alibaba rose over 2%.
Global News
How popular are Chinese stocks? The Japanese stock market is rushing to raise "smart money" and is rapidly pouring in
After the Chinese government introduced a series of favorable policies, the Chinese stock market has been fully unleashed. The Shanghai and Shenzhen 300 Index rose 15.7% last week, marking its strongest weekly performance since November 2008. The Hang Seng China Enterprises Index in Hong Kong has risen for 11 consecutive trading days, setting a record for the longest increase since 2018.
Chinese assets! Foreign giants collectively speak out: China's stock market rally may continue
Last week, thanks to the consecutive and unexpected multi pound favorable policies, the A-share market performed well, Chinese concept stocks also surged, and global foreign institutions' outlook on Chinese assets became increasingly optimistic.
Large scale strikes at ports on the East Coast and Gulf of Mexico trigger inflation concerns in the United States
On October 1st local time, a large-scale strike broke out among dock workers on the East Coast and Gulf Coast of the United States, causing logistics congestion. If the strike continues, it will be the most destructive strike in American history, potentially leading to shortages of consumer and industrial goods and exacerbating inflation.
French Prime Minister Barnier announces new government policy agenda focusing on budget, immigration and other issues
On October 1st local time, French Prime Minister Barnier announced the new government's policy agenda in the French National Assembly (lower house of parliament), focusing on issues such as budget and immigration.
Tesla's third quarter delivery volume is lower than expected
Tesla's third quarter car deliveries, announced on Wednesday, were lower than expected due to incentive measures and low-cost financing failing to drive demand for its older models in a fiercely competitive market. In the three months ending September 30th, this electric vehicle manufacturer delivered 462890 vehicles, an increase of 6.4% from the previous quarter. According to a survey of 12 analysts by LSEG, the average Wall Street expectation is that companies led by Elon Musk will deliver 469828 cars.
ADP employed 143000 people in the United States in September
In September, the ADP employment in the United States was 143000, with an expected 120000. The previous value was revised from 99000 to 103000.
Canada imposes tariffs on Chinese electric vehicles and releases a list of products subject to tariffs on Chinese steel and aluminum products. Ministry of Commerce responds
The Chinese side has noticed that Canada has released relevant documents. For a period of time, Canada has repeatedly disregarded objective facts, disregarded international economic and trade rules, disregarded opposition and dissuasion from multiple parties, insisted on closely following individual countries, and adopted unilateral suppression measures against China. The Canadian approach violates the principles of market economy and fair competition, seriously damages the normal economic and trade cooperation between Chinese and Canadian enterprises, seriously impacts the economic and trade relations between China and Canada, and disrupts and distorts the global industrial and supply chains. China firmly opposes it. China has filed a lawsuit against Canada's unilateralism and trade protectionism practices at the World Trade Organization, and has initiated an anti discrimination investigation into Canada's restrictive measures in accordance with the law. Canada should view bilateral economic and trade cooperation rationally and objectively, respect facts, abide by WTO rules, and not go further down the wrong path. China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises.
The tense situation in the Middle East has led to flight evasion
On October 1st, the Iranian military launched missile attacks on multiple targets within Israeli territory. As tensions escalate in the Middle East, flights arriving or passing through the region are avoiding to prevent being affected by the war.