On Friday Eastern Time, the US stock market closed with mixed results, with the Dow Jones Industrial Average falling 0.28%, the Nasdaq rising 0.81%, and the S&P 500 index rising 0.25%. The Nasdaq and S&P 500 index reached new closing highs. Tesla has risen by over 5%, and Bank of America has raised its 12-month target price to $400 and maintained a buy rating, as it is optimistic about the development of its FSD and artificial intelligence sectors. Bitcoin has returned to above $100000, cryptocurrency concept stocks have strengthened, Canaan Technology has surged by over 35%, Bit Digital has risen by over 9%, and Coinbase has risen by over 7%.
The Nasdaq China Golden Dragon Index closed up 0.98%, with a cumulative increase of 2.15% for the week. Most popular Chinese concept stocks have risen, with Youdao up over 6%, Alibaba and JD.com up over 2%, and iQiyi and NetEase up over 1%. In terms of decline, Gaotu fell more than 4%, while New Oriental fell more than 1%..
Global News
The non farm payroll in the United States increased by 227000 in November, with an estimated increase of 220000
The non farm payroll in the United States increased by 227000 in November, with an estimated increase of 220000 compared to the previous increase of 12000. The US unemployment rate for November was 4.2%, with an estimated 4.1%, compared to the previous value of 4.1%.
Is Navarro's return to the White House as trade advisor consistent with Trump's trade team's stance on tariffs?
This week, US President elect Trump announced that he will appoint his longtime ally Peter Navarro as the White House Senior Advisor on Trade and Manufacturing. Navarro also served as a trade advisor to the White House Trade Council during Trump's first term, supporting the "America First" trade policy and endorsing the imposition of high tariffs to protect domestic industries.
Twice experienced in Asian life and business, Trump nominates Perdue as new ambassador to China
Perdue also responded to Trump's appointment on social media that evening, saying, "I am truly honored to accept President Trump's nomination to become the next U.S. Ambassador to China. I have lived in Asia twice and understand the importance of this responsibility. I look forward to implementing President Trump's strategy and safeguarding American interests
Economists warn that conflict between Trump and the Federal Reserve is inevitable
During his campaign, Trump promised to lower borrowing costs in order to alleviate the financial burden on American households. But economists warn that if interest rates cannot fall quickly, Trump will definitely point the finger at the Federal Reserve, especially Fed Chairman Powell, which means that conflict between the two sides will be inevitable.
Could the 'martial law crisis' in South Korea trigger an economic recession? Finance Minister: No need to worry excessively
On Friday, South Korean Finance Minister Choi Sang mu stated in an interview that he does not agree that the "martial law" incident will have a lasting impact on the South Korean economy or market, and that concerns about South Korea falling into recession next year are "excessive".
AI+becomes the chicken that lays golden eggs, and US stock software companies collectively soar
In the secondary market, chips are no longer the most favored direction for AI investment, but are being replaced by AI applications. The "AI+" concept stocks in the US stock market are increasingly popular, with "AI+voice" concept stocks rising nearly 530% this year and "AI+defense" concept stocks rising over 318%
Futurist Kurzweil: AI progress in the next 5 years will surpass all achievements of this century to date
In recent years, artificial intelligence technology has developed rapidly at an almost explosive pace. As early as several decades ago, a group of technological pioneers had already discovered the enormous potential of AI and other technologies, one of whom was Ray Kurzweil, praised by Bill Gates as the "most accurate futurist" in predicting artificial intelligence. In 1990, he accurately predicted the expansion of the Internet, AI defeating the world champion of Go, and the development of face recognition technology, and 25 years ago predicted that computers would reach the level of human intelligence in 2029. With the emergence of large model technology, more and more people believe that this prediction is likely to be realized.
Elon Musk's supercomputer computing power will expand tenfold! Once referred to as a 'miracle' by Huang Renxun
On December 5th local time, the Greater Memphis Chamber of Commerce in the United States issued a statement stating that Musk's artificial intelligence startup xAI has promised to increase the computing power of its supercomputer project Colossus tenfold, and will be equipped with one million GPUs in the future to compete with competitors such as Google, OpenAI, and Anthropic.