Overnight stock market
On Thursday Eastern Time, the three major US stock indexes collectively closed down, with the Nasdaq falling 0.64%, the S&P 500 index falling 0.59%, and the Dow Jones Industrial Average falling 0.47%. Due to Federal Reserve Chairman Powell's claim that he is not in a hurry to cut interest rates, this has dampened investors' optimism and pushed the US dollar index to continue rising, which has been up for five consecutive days.
Popular Chinese concept stocks generally fell, with the Nasdaq China Golden Dragon Index closing down 1.81%. Bilibili fell over 12%, Xiaopeng Motors fell over 5%, NIO fell over 3%, JD.com fell over 6%, Alibaba fell over 1%, and iQiyi rose over 2%.
Major European stock indices collectively closed higher, with the German DAX30 index up 1.37%, the UK FTSE 100 index up 0.51%, the French CAC40 index up 1.32%, and the European Stoxx 50 index up 1.97%.
Commodity Market
The settlement price of international crude oil futures closed slightly higher. WTI December crude oil futures closed up $0.27, or 0.39%, at $68.7 per barrel. Brent crude oil futures closed up $0.28, or 0.39%, at $72.56 per barrel in January.
COMEX gold futures fell 0.59% to $2571.2 per ounce; COMEX silver futures fell 0.38% to $30.545 per ounce.
Market News
Iranian officials: Iran is ready to provide various forms of support to Syria at any time
According to the Syrian Presidential Office, on the 14th local time, Syrian President Bashar al Assad met with visiting senior advisor to Iran's Supreme Leader Ali Larijani in Damascus. Both sides discussed Israel's military actions against Palestine and Lebanon. Bashar al Assad stated that Syria supports the rights of Palestinians and is willing to help the Palestinian and Lebanese people by all means to stop Israel's genocide and genocide. Larijani emphasized the crucial role of Syria in the region and stated that Iran is ready to provide various forms of support to Syria at any time.
Trump team plans to cancel $7500 electric vehicle tax credit
As part of broader tax reform legislation, the Trump transition team is planning to cancel the $7500 electric vehicle tax credit, and Tesla representatives also support ending subsidies. As an important component of Biden's Inflation Reduction Act, the repeal of this subsidy will have a significant impact on the popularization of electric vehicles in the United States. Due to high car prices and uneven charging infrastructure, the penetration rate of electric vehicles in the United States has declined. Trump has previously stated that he will reverse Biden's electric vehicle policy on his first day as president.
Trump nominates Kennedy Jr. as his new Secretary of Health and Human Services
US President elect Trump announced on Thursday that he will nominate Robert F. Kennedy Jr. as the Secretary of Health and Human Services (HHS).
Powell: The Federal Reserve doesn't need to 'rush' to cut interest rates
Federal Reserve Chairman Powell stated that due to the strong US economy, the Fed does not need to "rush" to lower interest rates and will "carefully observe" to ensure that certain inflation indicators remain within acceptable ranges. Powell reiterated that the Federal Reserve's policy rate path will depend on upcoming data releases and the evolution of the economic outlook. He said that the inflation rate is approaching the Federal Reserve's target of 2%, but it has not yet been reached. The Federal Reserve will closely monitor core indicators of inflation in goods and services, excluding housing, which have been declining over the past two years. We expect these indicators to continue fluctuating in the near term range, and the road to the Fed's 2% target can sometimes be bumpy
BlackRock's Q3 frenzy buying Apple continues to increase holdings in the 'Big Seven'
According to the 13F document, asset management giant BlackRock continued to increase its holdings of the US tech giants in the third quarter, including 43.4 million shares in Apple, 7.5 million shares in Microsoft, 12.35 million shares in NVIDIA, 18.55 million shares in Amazon, 980000 shares in Meta, 4.66 million shares in Tesla, and 6.21 million shares in Google A+C; Reduce holdings of 1.51 million shares in Eli Lilly. In addition, BlackRock increased its holdings of Berkshire Hathaway by 2.59 million shares. As of the end of the third quarter, BlackRock reported a market value of $4.76 trillion, up from $4.42 trillion last time.
Buffett's latest holdings: Building positions in pizza stocks, reducing holdings, and realizing profits as the main tone
According to the 13F document, Buffett's Berkshire Hathaway acquired 1.27 million shares of Domino's Pizza and 400000 shares of Pool Corp in the third quarter. As previously announced, the company reduced its holdings of 100 million shares of Apple, reducing its holdings to 26.24%. We also reduced our holdings of First Capital Credit, Nu Holdings, and Chartered Communications. Clearance Floor& Decor and Liberty Sirius XM have almost cleared their inventory of Ulta Beauty. Except for a slight increase in holdings of Haike Airlines, there have been no operations to increase holdings. As of the end of the third quarter, the total market value of Berkshire Hathaway's holdings decreased from $280 billion to $266 billion.
WHO: Insufficient vaccine coverage, global measles cases continue to increase
The World Health Organization announced on the 14th that there will be approximately 10.3 million global cases of measles in 2023, an increase of 20% compared to 2022. The insufficient global vaccine coverage is the main reason for the surge in cases. The World Health Organization states that measles can be prevented by receiving two doses of the measles vaccine. In 2023, over 22 million children worldwide missed their first dose of measles vaccine.
The European Medicines Agency recommends the use of Leqembi for the treatment of early Alzheimer's disease
After reassessing its preliminary opinion, the European Medicines Agency (EMA) has decided to recommend Leqembi for the treatment of early Alzheimer's disease. The Drug Use Committee under EMA recommends granting the marketing qualification for Leqembi, jointly developed by Japan's Eisai and Bojian, for the treatment of mild cognitive impairment or moderate dementia caused by Alzheimer's disease. This round of reassessment suggests that Leqembi has more advantages than disadvantages in a strictly limited sample of patients.
EU fines Meta 798 million euros for violating antitrust regulations
The European Commission announced on November 14th that Meta has been fined 798 million euros for linking its online classified advertising service Facebook Marketplace to its social media platform Facebook and imposing unfair trading conditions on other online classified advertising service providers, thereby violating EU antitrust regulations. The European Commission stated that Meta has been ordered to effectively terminate the above-mentioned actions and shall not repeat infringing acts or adopt practices with equivalent purposes or effects in the future. Meta stated that it will appeal against the decision of the European Commission.