Overnight US stocks | The three major indices rose, and Bitcoin once surpassed $87,000 Meta (META.US) recorded its biggest one-day gain since April last year
The Zhitong Finance App learned that on Monday, falling oil prices and US bond yields boosted market sentiment, and the three major indices rose. Bitcoin's price once topped $87,000.
[US stocks] At the close, the Dow rose 366.18 points, or 0.71%, to 52048.82 points; the S&P 500 rose 114.20 points, or 1.49%, to 7764.70 points; and the NASDAQ rose 599.54 points, or 2.26%, to 27122.09 points. The Nasdaq 100 Index rose 838.18 points, or 2.83%, to 30482.35 points. The Philadelphia Semiconductor Index rose 4.29%, the best single-day performance since August 4. Intel (INTC.US) rose 12% and Meta Platforms (META.US) rose 11%, the biggest one-day increase since April last year. Strategy (MSTR.US) rose more than 9%, Coinbase (COIN.US) rose 3.5%, Qualcomm (QCOM.US) rose 9%, Tesla (TSLA.US) rose 3%, and AMD (AMD.US) rose nearly 10%. The Nasdaq China Golden Dragon Index closed up 0.7%, while Alibaba (BABA.US) rose more than 2%.
[European stocks] The German DAX30 index rose 288.12 points, or 1.14%, to 25584.56 points; the UK FTSE 100 index rose 82.71 points, or 0.78%, to 10741.84 points; the French CAC40 index rose 73.92 points, or 0.92%, to 8138.94 points; the European Stoxx 50 index rose 82.65 points, or 1.33%, to 6318.85 points; Spain's IBEX35 index rose 213.36 points, or 1.09%, 19727.16 points; Italy's FTSE MIB index rose 824.25 points, or 1.60%, to 52369.50 points.
[Asian Stock Market] Korea Composite Index rose 1.65%, India's Mumbai 30 Index rose 0.76%
[US Dollar Index] The US dollar index, which measures the US dollar against six major currencies, rose 0.21% on the same day and closed at 100.430 at the end of the foreign exchange market. As of the end of the exchange market in New York, 1 euro was worth 1.1465 US dollars, lower than 1.1483 US dollars on the previous trading day; 1 pound was worth 1.3369 US dollars, lower than 1.3391 US dollars on the previous trading day. 1 US dollar was worth 157.45 yen, up from 156.68 yen on the previous trading day; 1 US dollar was worth 0.8213 Swiss franc, lower than 0.8221 Swiss franc on the previous trading day; 1 US dollar was worth 1.4039 Canadian dollars, higher than 1.3993 Canadian dollars on the previous trading day; 1 US dollar was worth 9.8398 SEK, up from 9.8333 on the previous trading day.
[Cryptocurrency] Bitcoin once rose more than 7% to break through the $87,000 mark. As of press time, the press report was 86646.3; Ethereum rose more than 4.8% to 2,767 US dollars.
[Crude oil] Light crude oil futures for October delivery on the New York Mercantile Exchange fell $4.52, or 4.51%, to close at $95.78 a barrel; London Brent crude oil futures for November delivery fell $3.53, or 3.4%, to close at $100.34 a barrel.
[Precious Metals] Spot gold fell 0.79% to 4343.71 US dollars/ounce; spot silver was reported at $66.05 per ounce.
[Macro News]
Federal Reserve Mussalem: Further rate hikes may be needed to curb inflation. Federal Reserve Mussalem said on Monday that due to strong demand and commodity price shocks that have surpassed the oil sector, the Federal Reserve may need to raise interest rates further to reduce inflation. At the same time, he stressed that it is best for the Federal Reserve to act as soon as possible rather than wait. Mussalem said, “Continued demand and repeated supply pressures are still increasing the risk of inflation. I believe that if no further policy measures are taken to curb inflation, inflation is likely to be significantly higher than our 2% target after 18 months, rather than reaching the target level. In my opinion, policies must put meaningful limits on inflation. In this way, the Federal Reserve can achieve its inflation target within about a year and a half, thus allowing time for austerity policies to have an impact on the economy.” He also said, “An earlier, gradual policy tightening is more appropriate and less likely to have an impact on the economy compared to policy measures that are later, larger in scale, and may be more abrupt in the future.” Mussalem pointed out that inflation “is not a risk; it already exists”. Even if the effects of oil and other supply-related factors are excluded, the potential inflation rate may still be several percentage points higher than the Federal Reserve's target, and “is moving in the wrong direction.”
Bank of Canada: New US tariffs may reduce Canada's economic growth rate to less than 1% in the fourth quarter. Bank of Canada Governor Macram said on Monday that the new US tariffs may cause Canada's economic growth rate to fall below 1% in the fourth quarter. Macram said that when evaluating interest rate policies, the central bank needs to consider two factors: a slowdown in economic growth may drive inflation downward, but the Middle East conflict has led to a rise in oil prices, which may in turn drive up inflation. He said that Canada's current annual inflation rate is 3%, which is far higher than the central bank's target of 2%; if oil prices remain around $100 per barrel, the inflation rate may rise slightly further. The Canadian economy rebounded in the second quarter, with an annualized growth rate of 3.3%. After experiencing the impact of nearly 18 months of US tariffs, businesses and households began to adjust their plans and resume investment and consumption arrangements. However, as negotiations on a potential trade agreement between the two countries broke down, the relationship between the US and Canada deteriorated further, and the US introduced a new round of tariff measures. “The latest round of upgrades may once again cause companies to delay investment and recruitment decisions,” McClum said. He said that if these new tariffs continue, Canada's economic growth rate in the fourth quarter may be roughly halved to less than 1%.
According to the news, Samsung's HBM4 production capacity may double next year. According to industry sources, Samsung plans to increase the amount of outsourced cleaning of glass carriers in the HBM process from 20,000 pieces per month this year to 50,000 tablets per month next year, a fivefold increase from 10,000 tablets per month last year. The glass carrier is a support structure temporarily installed at the bottom of the DRAM wafer in the HBM process to prevent the wafer from bending or cracking during etching and drilling. Since glass carriers can be reused, actual usage is affected by the feeding method and process yield, but if cleaning demand increases 2.5 times, it is likely that Samsung's HBM4 series production will at least double next year. Samsung is actively preparing to expand HBM4 and HBM4E production capacity. Both products use a high-stacking structure with 12 or more layers.
[Individual Stock News]
Paramount (PSKY.US) reached a settlement with various US states to complete an important step in promoting mergers and acquisitions with Warner Bros. According to reports, Paramount Sky Dance reached a settlement with California and 11 other states on Monday. These states had previously filed lawsuits to prevent the company from buying Warner Bros. Discovery (WBD.US) for 110 billion US dollars. This move paved the way for one of the largest media mergers in history. The California Attorney General said at a press conference that the settlement includes bringing more film production back to the US — at least $300 million more per year for domestic production, and agreeing to gradually increase the number of annual film releases after the deal is completed. The agreement also includes that the company will produce 30 films a year for the first two years of the agreement and 32 films a year for the next three years. Of these, there are at least four independent films each year, and at least 20% of the films must be blockbusters.
OpenAI develops AI agent functions to compete with Grok Bot and Meta (META.US) personal AI assistants. According to reports, as rivals such as SpaceX (SPCX.US) and Meta launch personal AI agents that can handle multi-step tasks, OpenAI is facing pressure to catch up. People familiar with the matter revealed that OpenAI is developing new features to compete more directly with SpaceX's recently launched Grok Bot. The product is designed to help users create an AI “assistant team” that is continuously online, capable of handling everyday tasks, managing software, and collaborating in the background. Another person familiar with the matter said that OpenAI is also discussing the development of a personal AI assistant to deal with similar products recently launched by Meta. When developing related products, OpenAI may repackage and re-name its existing “smart” technology, including related features already applied in Codex and ChatGPT. Currently, some OpenAI application users have connected it to their email, calendar, and other applications to automatically schedule meetings and communicate with the company via email. Some tasks can even last for several days.
Google (GOOGL.US, GOOG.US) is targeting the high-end notebook market to launch a Googlebook with a price of $899. Google launched a new laptop product line, Googlebook, starting at $899, marking the company's entry into the high-end laptop market. Target users include Android phone users and programmers. With this product, the company hopes to make its Gemini artificial intelligence assistant a core component of the laptop experience. The company is trying to create a laptop ecosystem for high-end Android phone users, similar to the collaborative experience between Apple's MacBook and iPhone. The goal is to establish a closer device ecosystem. The lower end price of the GoogleBook is lower than the MacBook Air, which starts at $1,299, but Google says the product is not intended to replace a Chromebook, nor is it a generic notebook for all users.