On Thursday, December 14, US Eastern Time, the three major stock indexes of the US stock market all recorded six consecutive days of gains. The Dow Jones Industrial Average set an intraday and closing record, and the yield of US treasury bond bonds continued to fall sharply.
Buffett continues to buy! Berkshire Hathaway has increased its holdings in Western Oil stocks for three consecutive days this week, buying nearly 10.5 million shares for approximately $588.7 million.
Amazon wins the 250 million euro tax treaty lawsuit in the European Union; The EU is about to impose a ban on Apple's App Store rules against music streaming competitors such as Spotify, and may impose huge fines on Apple.
The Dow Jones Industrial Average hit a historic high during trading and closing hours
US treasury bond bonds continue to fall sharply
On Thursday, the Dow Jones Industrial Average rose as high as 37287.50 points, hitting a new all-time high during the trading session. As of the close, the Dow Jones Industrial Average rose 0.43% to 37248.35 points, setting a new historical high. The S&P 500 index rose 0.26% to 4719.55 points, and the Nasdaq rose 0.19% to 14761.56 points. All three major stock indexes recorded six consecutive days of gains.
According to HSBC's forecast, the S&P 500 index may close at 5000 points in 2024, and if the Federal Reserve can curb inflation without causing an economic recession, this target may prove conservative.
The yield of US treasury bond bonds continued to fall sharply, and the yield of two-year treasury bond fell to 4.397%, down 8.4 basis points. The yield of the 10-year treasury bond bond fell to 3.913%, down 12 basis points. The 30-year treasury bond bond yield fell 11.8 basis points to 4.066%.
China International Capital Corporation (CICC) pointed out in its research report that the downward trend of the US bond market is the main direction, with sufficient short-term trading and waiting for a catalyst for interest rate cuts. In the short term, the Federal Reserve's interest rate meeting has dispelled the risk of hitting the market, but expectations are already quite sufficient, waiting for a catalyst for interest rate cuts, indicating disturbances in the inflation path (rent sub item) and Treasury bond issuance (term premium) in the first quarter of next year.
In terms of macro data, retail sales in the United States increased by 0.3% month on month in November, with an expected decrease of 0.1%. The previous value was revised from a decrease of 0.1% to a decrease of 0.2%; Core retail sales increased by 0.2% month on month, with an expected decrease of 0.1%. The previous value was revised from a 0.1% increase to remain unchanged.
Forexlive, a financial website, commented on US retail sales data, stating that US consumers have performed strongly throughout the year. In the past 7 months, sales have increased in 6 months. Due to the price drop, gasoline sales have once again been dragged down, but in addition to electronic products and building materials, sales of other products have generally been strong. Given the recent decline in interest rates, housing and construction products are more likely to become driving forces in 2024.
Amazon wins!
Expected to completely eliminate the 250 million euro tax collection
Technology stocks mostly fell, with the TAMAMA Technology Index of Wanda USA falling 0.36%, Apple up 0.08%, Amazon down 0.95%, Netflix down 2.11%, Google down 0.48%, Facebook down 0.47%, and Microsoft down 2.25%.
According to comprehensive media reports, the European Supreme Court supported Amazon on Thursday in a lawsuit filed by the European Commission accusing it of illegally enjoying 250 million euros in tax benefits. The European Court of Justice (ECJ) has stated that the EU's executive body, the European Commission, has "failed to prove" that the tax agreement between Amazon and Luxembourg is "state aid incompatible with the internal market.".
According to Hong Kong's Wanda News Agency, the European Union is about to impose a ban on Apple's App Store rules against music streaming competitors such as Spotify, and may impose huge fines on Apple. It is reported that the upcoming anti-monopoly order from the European Union will prohibit Apple from obstructing music services and pushing users from the Apple App Store to other subscription options. EU regulatory agencies are still considering imposing a fine of up to 10% on Apple's annual sales.
Buffett Continuously Buys Western Oil
According to documents submitted by Berkshire Hathaway to the US Securities and Exchange Commission (SEC), Berkshire has increased its holdings in Western Oil stocks for three consecutive days this week, buying nearly 10.5 million shares for approximately $588.7 million.
After this increase in holdings, Berkshire's holdings of Western Oil stocks increased to 238 million shares, with a shareholding ratio of over 27.13% and a total market value of approximately 13.648 billion US dollars.
On Thursday, energy stocks collectively rose, with ExxonMobil up 2.7%, Chevron up 3.67%, ConocoPhillips up 2.83%, Schlumberger up 6.59%, and Western Oil up 2.71%.
WTI crude oil and oil distribution both hit new highs
The highest closing price since December 5th
US WTI crude oil closed higher on Thursday, reaching its highest closing price in a week. The West Texas Intermediate Crude Oil (WTI) futures for January delivery on the New York Mercantile Exchange rose $2.11, or 3%, to close at $71.58 per barrel.
The Brent crude oil futures for February delivery increased by $2.35, or 3.2%, to close at $76.61 per barrel.
According to the most active contracts, both WTI and Brent crude oil futures reached their highest closing prices since December 5th on Thursday.
Most popular Chinese concept stocks rose
Most popular Chinese concept stocks rose, with Jianan Technology up 31.82%, Gaotu Group up 29%, Haomei up 5.18%, Futu Holdings up 4.21%, JD.com up 3.76%, Xinhao Boya Entertainment up 3.72%, Jingke Energy up 3.58%, Vipshop up 3.57%, and Daquan New Energy up 3.04%.
In terms of decline, Kingsoft Cloud fell 6.45%, Dingdong Maicai fell 2.53%, and NetEase fell 2.33%.
Zhonggai New Energy Vehicle stocks collectively rose, with NIO Automobile up 5.92%, Xiaopeng Automobile up 1.82%, and Ideal Automobile up 2.55%.
Based on Wind, NIO Chairman Li Bin reiterated the importance of NIO's battery swapping system. He said that a rechargeable, interchangeable, and upgraded energy system is the NIO moat. At present, the amortization cost of building a battery swapping station is not high, and the battery swapping station can also participate in energy storage business in some regions. From this perspective, battery swapping business is not a burden for NIO. Li Bin revealed that the MPV project has been approved internally and will use the NIO NT3 platform.
Affected by the lower than expected sales of the PICO4 virtual reality head display developed by PICO, a subsidiary of ByteDance VR, ByteDance will cancel PICO's plan to develop the next generation of virtual reality head display PICO5, or follow Apple's lead in promoting hybrid reality head displays. (organized by Zhao Xinyi)