Last night! The Nasdaq V-shaped rebound, and the Chinese stocks, suffered a collective setback.
1min read Last night, US stocks were all red.
Reversal of the Nasdaq
On Thursday (November 21), European and American stocks rose collectively, with the Dow Jones Industrial Average up 1.06%, the S&P 500 index up 0.53%, and the Nasdaq index reversing to rise 0.03%, falling more than 1% during the trading day.
Among individual stocks, Google fell more than 4%.
On the news front, recently, the US Department of Justice has filed a motion with the court, asking Google to not only divest its Chrome browser, but also its Android operating system, and limit Google's ability to train AI models. If the proposal is ultimately accepted, Google will no longer be able to own a browser, and will not be able to re-enter the browser market for the next five years. In addition, Google will no longer be able to monopolize large amounts of data resources, which are crucial for AI training.
Bitcoin continued to climb one step at a time, breaking through $96,000, $97,000, and $98,000 yesterday. As of the time of writing, it has exceeded $98,400.
Most of the Chinese stocks fell, with the Nasdaq China Dragon Index down 1%. Among individual stocks, EHang fell about 13%, Kingsoft Cloud fell more than 11%, PDD fell over 10%, Sodi Biotech fell over 7%, and iQIYI fell over 7%.
PDD released its 2024 Q3 financial report as of September 30, with quarterly revenue reaching Rmb99.4bn, down 22% from the previous quarter.
US Fed: The pace of rate cuts may slow down
Last night, the US released more than expected in the number of initial jobless claims last week.
US Fed's Barkin said that if inflation remains above the target, then caution is needed when cutting interest rates; he believes that the next decision will depend on the data, and the economy is "quite prosperous" now; recent policy actions can be described as "repositioning"; once the Fed enters the "normalization" stage, the issue of further pace of rate cuts will become more important.
US Fed's Guralnick said that inflation is falling to 2%, the labor market is close to stable full employment, and it may be wise to slow down the pace of rate cuts as the Fed approaches its stable interest rate level.