On October 10, local time, the three major stock indexes of the United States closed higher, of which the Dow rose 0.40%, the S&P index rose 0.52%, and the Nasdaq index rose 0.58%. A number of dovish Fed officials spoke in favor of no more interest rate hikes, and investors waited for the minutes of the Fed's September meeting, U.S. CPI inflation data and corporate third-quarter reports to support U.S. stocks continued to rise, and the Nasdaq and S&P 500 index rose more than 1 percent during the session.
One of the bright spots on the U.S. stock market that day was the rise led by popular Chinese companies. The Nasdaq Gold Dragon China Index rose as much as 3.6 percent before closing up 3.14 percent, rising above 6,700 points to its highest level in three weeks since Sept. 18.
Us stocks rally for third straight time after Fed officials' dove
On October 10, local time, the three major stock indexes of the United States collectively closed higher, for the third consecutive trading day. The Dow was up 134.65 points, or 0.40%, at 33,739.30. The Nasdaq rose 78.60 points, or 0.58%, to 13,562.84. The S&P 500 rose 22.58 points, or 0.52 percent, to 4,358.24.
At one point Tuesday, the yield on the 10-year Treasury note fell about 17 basis points to below 4.62%.

On Tuesday, Atlanta Fed President Raphael Bostic reiterated his view that policymakers no longer need to raise interest rates further and that monetary policy is sufficiently subdued to bring inflation back to its 2 percent target. He also said an unexpected change in the economic outlook could require officials to raise interest rates, but that was not his current expectation.
In addition to the traditional "dovish" Atlanta Fed President Bostic, the Federal Reserve Bank of Minnesota Chairman Kashkari, who is seen as a tough hawk, has also publicly stated that the rise in US bond yields means that "the Fed needs to do less." He added, however, that he was not yet convinced that the surge in long-term Treasury yields would reduce the need for further rate hikes, saying that depended on the factors driving the recent rise in borrowing costs.
Fed Governor Christopher Waller said the central bank remains committed to bringing inflation back to its 2% target. He avoided talking about current market conditions or monetary policy. "We have reiterated this inflation target several times since 2012, and since tightening monetary policy early last year we have made clear our determination to bring inflation back to our 2 per cent target, which is why we have taken strong, step-by-step action to date," Mr Worrell said.
A senior official at the Federal Reserve Bank of New York said the Fed's balance sheet reduction was progressing smoothly and not causing major disruptions to markets, though the central bank would continue to monitor risks closely.
In addition, the growing focus on the U.S. fiscal deficit comes at a time when the Treasury has begun selling more short-term debt to pay for larger deficits. Eastern time on Tuesday, October 10, the United States Treasury Department announced that it plans to auction a total of $95 billion of four-cycle Treasury bills on Tuesday, an increase of $5 billion from the last issuance of the same maturity varieties, and on the same day, it also plans to auction eight-cycle Treasury bills, a total of $85 billion, an increase of $5 billion from the last issue.
On the economic front Tuesday, the New York Fed's September survey of consumers showed one-year inflation expectations rose to 3.7 percent, a three-month high, from 3.6 percent in August. Three-year inflation expectations rose to 3.0 percent, the highest in nearly a year, from 2.8 percent in August. Five-year inflation expectations fell to 2.8 percent from 3 percent in August. The survey showed that U.S. consumers' short-term inflation expectations rose in September from August, while long-term inflation expectations fell. However, concerns about personal finances are on the rise, with perceptions of current and future access to credit deteriorating.
In sector terms, 10 of the 11 major S&P 500 sectors rose and one fell. The utilities sector and consumer discretionary sector led advancers with gains of 1.36% and 1.09%, respectively, while the energy sector fell 0.02%.
Large tech stocks mostly rose. Boeing rose more than 2%, AMD, TSMC, Tesla, Nvidia, Meta, Intel rose more than 1%, Amazon, Qualcomm, Broadcom rose slightly, Ericsson, Google A, Apple, Microsoft, Oracle fell slightly, Netflix fell more than 3%.
AMD closed up 1.91 percent on $6.141 billion. AMD announced on its website on Tuesday that it has signed a definitive agreement to acquire Nod.ai, an open source artificial intelligence software company, in a move aimed at enhancing the company's open source AI capabilities. AMD did not disclose financial terms of the deal. Nod.ai was recently valued at $36.5 million, according to capital markets data firm PitchBook. Founded in 2013, Nod.ai provides optimized AI solutions to large data center operators and other customers.
Financial stocks mostly rose. Barclays rose more than 3 percent, Capital One Financial, Bank of America, Deutsche Bank, Mizuho Financial rose more than 2 percent, U.S. Bancorp, Citigroup, mastercard, American Express rose more than 1 percent, Regional Financial, Visa, Bank of New York Mellon, Goldman Sachs, jpmorgan Chase, Allstate Insurance, MetLife, UBS, Wells Fargo, Morgan Stanley, American International Group, Charles Schwab were up slightly, while Hartford Financial, BlackRock, Travelers Insurance were down slightly.
Energy stocks were mixed. Petrobras rose more than 2%, Duke Energy, BP, Imperial Oil, Shell, Calon Oil, Marathon Oil rose slightly, Chevron, ExxonMobil, Apache Oil fell slightly, Conocophillips fell more than 1%, American Energy fell more than 4%.
International oil prices fell on the 10th. By the end of the day, light crude for November delivery fell 41 cents, or 0.47%, to settle at $85.97 a barrel on the New York Mercantile Exchange. London Brent crude for December delivery fell 50 cents, or 0.57%, to settle at $87.65 a barrel.
Chinese stocks soared
One of the bright spots on Wall Street Tuesday was China Concept Stocks. The Nasdaq China Golden Dragon Index continued to rise after opening slightly higher, rising as much as 3.6% before closing up 3.14%.
In terms of sharply rising stocks, Shengde Wealth rose by more than 50% to lead the rise, Huwin Holdings rose by more than 20%, Ruineng New Energy, Tianmei Biological, Advantages Interactive, etc. rose by more than 10%.

Among popular Chinese stocks, Bilibili rose nearly 8% after briefly rising more than 11%. Jinshan Cloud, Gaotu Group, etc. rose more than 7%; Futu Holdings, Huya rose more than 6%; Weilai, Universal data, etc. rose more than 5%; Iqiyi, Tencent Music, Ideal Car, etc. rose more than 4%; Xiaopeng Automobile, Jingdong, etc. rose more than 3%; Ctrip, New Oriental, Alibaba, Pinduoduo, NetEase, etc. rose more than 2%; Tencent ADR, Tiger Securities rose more than 1%. Vipshop fell slightly.
Bilibili closed 7.91 percent higher. At an internal meeting of Bilibili in the middle of this year, CEO Chen Rui pointed out that "Station B still has user growth potential" and "must do a good job of user growth", and put forward the goal of doubling the daily active users (DAU) of the main station mobile terminal on the existing basis. However, for the plan, Chen Rui did not give a clear implementation time.
Iqiyi closed up 4.88 percent after rising more than 7 percent earlier in the session. On the news, iQiyi Data Research Center released data on the 7th, showing that in the 8 days of the holiday, the average daily viewing time of iqiyi users increased by 8% compared with the pre-holiday, and the average daily viewing time of large-screen users increased by 11% compared with the pre-holiday. A number of film and television series have become popular attractions in this holiday, such as Jiangmen City, Guangdong Province, where "Wild" was set, received 5.013 million tourists in the eight days of the holiday, and tourism revenue of 2.881 billion yuan, an increase of 170.49% and 156.77% year-on-year.
Ideal Auto closed up 4.22 percent. On October 10, Ideal Car announced that in the 41st week of 2023 (10.2-10.8), the weekly sales of ideal car reached 0.69 million units; This month it will hit a new monthly sales record of 40,000 units.
European stocks posted their biggest one-day gain of the year

European stocks posted their biggest one-day gain since November 2022 on Tuesday, helped by relief from a sustained rise in bond yields and optimism around economic stimulus measures. The Stoxx 600 index closed up 2 percent, its best day since Nov. 10, with 96 percent of its components up.
Investors' interest in stocks was also boosted by hints from Federal Reserve officials on Monday that further interest rate hikes may not be needed. The yield on the 10-year Treasury note fell the most since March.
IMF: Global economic recovery slow and uneven cut global growth forecast for next year
Central banks have a better chance of keeping inflation under control without tipping the global economy into recession, the International Monetary Fund (IMF) said in its latest World Economic Outlook, released on Tuesday (October 10) during its autumn meeting in Morocco. The global economy is continuing to recover from the severe shocks of the past few years, but the recovery is slow and uneven.
The report sees the baseline forecast for global growth falling from 3.5% in 2022 to 3.0% in 2023 and 2.9% in 2024, well below the historical (2000-2019) average of 3.8%.
The outlook notes that several headwinds to global growth earlier this year have receded, such as the coronavirus pandemic no longer being a global health emergency, supply chains largely normalizing, and global financial conditions easing as banking turmoil is contained.
Still, challenges remain, not least a slowdown in manufacturing, a slow recovery in the services sector and the impact of "synchronized" policy tightening by central banks around the world.
High luxury demand cooled? LVMH's quarterly sales missed expectations for the first time this year
On Tuesday, October 10, local time, LVMH reported operating income of 19.96 billion euros in the third quarter of this year, lower than analyst expectations of 21.14 billion euros, recurring revenue increased by 9%, and recurring revenue growth slowed to 14% in the first three quarters of this year.
It was the first time this year that LVMH's revenue missed expectations, and the third quarter was also the slowest quarter for revenue growth, with revenue growing 17% in both the first and second quarters, and the third quarter's growth rate was almost half that of the previous two quarters.