On Friday Eastern Time, the three major US stock indices closed slightly higher, all recording three consecutive weekly gains. The Dow rose 0.01%, with a cumulative increase of 1.94% this week; The Nasdaq rose 0.08%, with a cumulative increase of 2.37% this week; The S&P 500 index rose 0.13%, with a cumulative increase of 2.24% this week. Large technology stocks rose and fell, with Microsoft and Google falling more than 1%, while Apple, Nvidia, and Netflix slightly declined; Amazon rose by over 1%, while Meta, Tesla, and Intel slightly rose. Energy stocks rose across the board, with ConocoPhillips and ExxonMobil up more than 2%, Chevron, Schlumberger, and Western Petroleum up more than 1%.
The settlement price of international crude oil futures rose by over 4%. WTI December crude oil futures closed up $2.99, or 4.1%, at $75.89 per barrel, with a cumulative decline of 1.66% this week. Brent January crude oil futures closed up $3.19, or 4.12%, at $80.61 per barrel, down 1% this week.
Global News
US semiconductor equipment manufacturer under investigation for allegedly evading export restrictions on exports to China, Ministry of Foreign Affairs responding
Foreign Ministry spokesperson Mao Ning presided over a regular press conference on November 17th. At the meeting, foreign media reporters questioned and stated that according to sources, American semiconductor equipment manufacturer Applied Materials is under criminal investigation by the US Department of Justice for allegedly evading export restrictions and exporting equipment to China's largest chip manufacturer SMIC via South Korea without an export license. Is the Ministry of Foreign Affairs aware of the investigation? What is your response to this? Mao Ning stated that China has repeatedly expressed its position on US chip export controls to China. The United States should stop politicizing, instrumentalizing, and weaponizing economic, trade, and technological issues, and stop disrupting the stability of the global supply chain. China will closely monitor relevant trends and resolutely safeguard its own rights and interests.
For the first time in 14 years! China's US Treasury holdings are less than $800 billion
On Thursday (November 16th local time), the US Treasury Department released its International Capital Flow Report (TIC) for September 2023. The report shows that Japan, China and the United Kingdom, the top three overseas "creditors" of the United States, all reduced their holdings of US treasury bond in September, which pushed the size of US treasury bond held by overseas investors in that month to the lowest level since May.
Underdevelopment of capital markets affects key transformation financing, Lagarde calls for the establishment of a "European SEC"
On Friday local time, the 33rd Frankfurt European Banking Conference (EBC) was officially held. Under this year's theme of "Sailing in a World at Risk of Splitting", European Central Bank President Lagarde called on European countries to change their thinking and establish a unified European financial market regulatory organization similar to the United States Securities and Exchange Commission (SEC).
It's too early to bet on interest rate cuts! Federal Reserve Maester: Need to see more evidence of 'inflation being defeated'
The President of the Cleveland Federal Reserve, Loretta Mester, recently stated that financial markets are too early to pay attention to interest rate cuts, and the news this week showing a decline in inflation levels is not enough to convince her that the Federal Reserve has won the battle against inflation.
Company News
Jack Ma's Office: Firmly optimistic that Alibaba will still hold Alibaba stocks for a long time
Ma Yun's office lawyer clearly replied to reporters that the disclosed sale plan is a long-term plan. The other party stated that Jack Ma is firmly optimistic about Alibaba, and the current stock price is far below its actual value. He will still firmly hold Alibaba's stock.
Ideal Car: The first pure electric model, the Ideal MEGA, has officially opened with a pre order quantity exceeding 10000 units
On November 17th, Ideal MEGA, the first pure electric product of Ideal Automobile, completed its global debut on the opening day of the 2023 Guangzhou International Auto Show and simultaneously opened bookings.
Tesla Cyberrack Delivers Surprise, First Come, and Hidden Worries from A-share Suppliers Beyond Expectations
The pickup truck Cyberrack, which Musk described as "more practical than a truck and more high-performance than a sports car," has already entered the countdown to unveiling its mysterious veil. On November 16th, Tesla CEO Musk once again confirmed to the outside world that the first batch of mass-produced Cyberracks will be delivered at Tesla's Texas super factory.
NVIDIA Chinese official website has removed RTX4090 graphics card introduction information
The introduction information of the RTX4090 graphics card has been removed from the NVIDIA Chinese official website.