Market Dynamics on December 8

In the early morning of December 8, before the big non-farm payroll report, US stocks regained their “AI belief”. The Nasdaq index rose more than 1%, the biggest increase in three weeks, rebounded to a four-month high, and the S&P Dow ended three consecutive declines. Google, which released the most powerful AI model, closed up more than 5%. The chip stock index rose nearly 3%, and AMD rose nearly 10% after the release of AI chips. After C3.ai's earnings report, it fell more than 10%. German stocks retreated after hitting record highs. US stocks: The Dow rose 0.17%, the S&P 500 index rose 0.8%, and the Nasdaq rose 1.37%.

The Bank of Japan made a big statement. The Japanese bond yield recorded the biggest increase in a year; ten-year US bond yields hit a new daily high and broke away from a three-month low; the yen rose 3.8% intraday against the US dollar to the biggest increase in a year and a new four-month high; and the US dollar index stopped rising three times and fell to a high of more than two weeks. After the US unemployment data was released, the two-year US bond yield declined.

After the OPEC+ meeting, crude oil was negative for six consecutive years, the longest continuous decline in nine months, and a new low for five months; gasoline continued to hit a new low for two years. Gold futures turned down in the middle of the day and failed to rebound for several days.

In the Chinese market, during the US stock period, the Chinese stock index fell. Baidu rose more than 2%, NIO and Xiaopeng Motors fell more than 3%; the offshore RMB rose more than 200 points in the intraday period and rose above 7.16, breaking away from a two-week low. A-shares and Hong Kong stocks all closed down, lithium carbonate futures “seesaw”, soda ash futures rose or stopped, and Hong Kong stocks fell “three barrels of oil.” China's exports in November improved for the first time since April, with imports falling 0.6%; imports of major commodities were generally steady, crude oil imports fell to their weakest level in four months, and iron ore imports increased 3.4% month-on-month.

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