January 15 Market Update

Today is January 15th. Last Friday, the three major US stock indexes fell sharply in midday trading and continued to rise throughout the week. The S&P 500 index rebounded to a two-year high at the close, while the Dow Jones index fell more than 100 points. After the earnings report, UnitedHealth's stock price fell by more than 3%, and Tesla fell by more than 3%. Microsoft hit a record high for three consecutive days, and at one point surpassed Apple in market capitalization; Nvidia ended six consecutive gains and fell from an all-time high, but it still rose 11% throughout the week. J.P. Morgan Chase rose more than 3% after the earnings report, then turned down. Bank of America fell more than 1%, Wells Fargo fell more than 3%, and Citibank closed up 1%. Overall, in terms of US stocks, the Dow Jones index fell 0.31%, the S&P 500 index rose 0.08%, and the Nasdaq index rose 0.02%.

The rise in the producer price index (PPI) has once again raised market concerns about interest rate cuts, causing the price of US Treasury bonds to fall. The two-year US Treasury yield fell 17 basis points in the intraday period, hitting an eight-month low. The US dollar index fell for a while. Last year, the Federal Reserve lost 114.3 billion US dollars, which made America's deficit problem worse and an unprecedented situation. Three signs indicate that another crisis may unfold in March. Goldman Sachs said that European and American central banks may need to start adopting easing policies.

Bitcoin fell below $44,000 in the intraday period, falling more than $5,000 from the two-year high on the ETF listing date. Bitcoin spot ETFs fell by at least 5% the day after listing.

The Red Sea conflict escalated, and crude oil rose more than 4% in the intraday period, but then regained most of its gains and remained down throughout the week after a two-day rebound. The price of gold recorded the biggest increase in the four weeks after the Federal Reserve meeting, reversing four consecutive declines. At one point, the intraday increase was more than 2%. US natural gas has been rising more than 10% every week since the beginning of the year.

In the Chinese market, China's stock index fell by more than 1%, Baidu's stock price fell 7%, and Dada rose nearly 5%, but fell 53% throughout the week. The offshore renminbi fell more than 200 points in the intraday period and fell below 7.19, hitting a four-week low. The market is closely watching whether the central bank of China will cut interest rates on key policies. During the US stock session, the GEM and Hang Seng Technology Index closed down nearly 1%. Only 1 share of the Beijing Stock Exchange rose, and the photovoltaic and shipping sectors of A-shares bucked the trend and surged.

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