On Monday, December 18th Eastern Time, the US stock market closed higher, with both the Dow and Nasdaq recording their eighth consecutive day of gains. Federal Reserve officials downplayed expectations for interest rate cuts, stating that market expectations were "slightly ahead of schedule.".
The EU has announced a formal infringement lawsuit against "X" (formerly Twitter) for allegedly violating its obligations to combat illegal content and false information.
The attack on ships in the Red Sea region has raised concerns in the market about oil supply disruptions, driving up oil prices. WTI crude oil closed 1.5% higher on Monday.
Federal Reserve officials say market expectations for interest rate cuts are "ahead of schedule"
As of the close, the Dow Jones Industrial Average rose 0.86 points to 37306.02 points; The Nasdaq rose 90.89 points, or 0.61%, to 14904.81 points; The S&P 500 index rose 21.37 points, or 0.45%, to 4740.56 points.
Goldman Sachs strategist Kostin predicts that the S&P 500 index will reach 5100 points by the end of next year - the Goldman Sachs strategist has raised his forecast by nearly 9% from 4700 points in mid November. Goldman Sachs, along with Wall Street peers such as Bank of America and Oppenheimer, expects the index to reach a new high in 2024. Goldman Sachs strategists say that the stock market has already reflected positive economic activity, but now it reflects a stronger outlook.
Several Federal Reserve officials have spoken out, downplaying market expectations for next year's interest rate cut. The Federal Reserve's Mester said that the market's expectations for interest rate cuts are "slightly ahead" of the Federal Reserve, and the key to the next stage is how long monetary policy needs to remain tight.
Atlanta Fed President Bostic emphasized that market expectations for the timing of the first rate cut are too aggressive. He expects two interest rate cuts in 2024, but it is not expected to occur earlier than the third quarter.
The Federal Reserve's Gullsby said it is too early to announce victory against inflation and not to make premature predictions. If there is continuous improvement on the supply side and progress is made in labor force participation, then the economy does not need to weaken and inflation will decrease; In case of external shocks, we are ready to adjust policies.
Apple will discontinue its flagship Apple Watch model in the United States
Technology stocks mostly rose, with Wanda US TAMAMA Technology Index up 1.01%, Apple down 0.86%, Amazon up 2.73%, Netflix up 2.98%, Google up 2.41%, Facebook up 2.9%, Microsoft up 0.52%, and Tesla down 0.56%.
According to comprehensive media reports, the European Union has announced a "formal infringement lawsuit" against social media company "X" (formerly Twitter) on the grounds that the company is suspected of violating its obligations to combat illegal content and false information.
Apple has announced that it will soon cease selling its flagship Apple Watch model in the United States. Starting later this week, the Apple Watch Series 9 and Apple Watch Ultra 2 will no longer be sold, but the lower end Apple Watch SE will not be affected.
Apple and medical technology company Masimo have long had a patent dispute over Apple Watch's blood oxygen sensor technology. After a ruling by the US International Trade Commission (ITC), Apple took the aforementioned action.
Games Workshop Group Plc, a British gaming company, announced on Monday that it has reached an agreement with Amazon Content Services LLC, a subsidiary of Amazon, to develop movies and TV shows and provide related product sales rights.
The Red Sea situation has attracted market attention
Escort by the United States or forming alliances
Shipping giant Maersk has announced that it will officially impose an Emergency Risk Surcharge (ERS) on all customer goods unloaded at Israeli ports; An additional fee will be charged for booking Israeli imported goods based on the price calculation date of January 8, 2024.
Due to increased shipping risks and rising freight costs in the Red Sea region, shipping stocks represented by Golden Ocean Group and Star Shipping have generally strengthened.
According to Xinhua News Agency, multiple commercial ships were recently attacked by Yemeni militants in the Red Sea region, exacerbating tensions in the Middle East and affecting international shipping. Sources said on December 17th that US Defense Secretary Lloyd Austin will announce a Red Sea escort operation during his visit to the Middle East this week, with multiple Arab allies believed to be involved.
An anonymous source told The Guardian that the United States is interested in forming a naval task force with other countries to patrol the Red Sea, the Strait of Mandate, and the Gulf of Aden. Austin will announce this escort operation this week, with the proposed code name "Prosperity Guardian".
The attack on Red Sea vessels has also intensified market concerns about oil supply disruptions. BP has temporarily suspended all transit transportation through the Red Sea.
But currently, the crude oil market has sufficient supply, and the market is generally skeptical of Russia's export reduction plan in December. The increase in oil prices is limited, and WTI crude oil closed up 1.5% on Monday.
The WTI futures for January delivery on the New York Mercantile Exchange rose $1.04, or 1.46%, to close at $72.47 per barrel.
Most popular Chinese concept stocks have fallen
Most popular Chinese concept stocks fell, with Shengfeng Logistics falling 51.71%, Shuodi Biotechnology falling 42.82%, Gaotu Group falling 19.55%, Lujin Holdings falling 10.99%, Dingdong Maicai falling 9.28%, Futu Holdings falling 5.91%, Tuniu falling 5.1%, and BOSS Direct Hiring falling 4.99%.
In terms of growth, Zhongjin Medical rose 263.69%, Jianan Technology rose 14.58%, New Oriental rose 5.68%, and Century Internet rose 4.51%.
The stock of Zhonggai New Energy Vehicles fluctuated, with NIO Automobile up 4.7%, Xiaopeng Automobile down 0.97%, and Ideal Automobile down 2.86%.
NIO announced that it has entered into a share subscription agreement with CYVN Holdings through its affiliated company CYVN, which is an investment entity headquartered in Abu Dhabi. According to the share subscription agreement, CYVN will invest a total of $2.2 billion in cash to subscribe for 294 million newly issued Class A common shares of the company at a purchase price of $7.5 per share.