December 6th Market Dynamics

Today is December 6th. The Dow Jones and S&P 500 indexes have fallen for two consecutive days. The strong performance of technology stocks boosted the rebound of the Nasdaq index, with tech giants like Apple and Nvidia seeing their stock prices rise by over 2%, pushing Apple's market cap back above $3 trillion. The German stock index rose by about 0.8%, hitting a new all-time high, while the Italian stock index closed above 0.03 million points for the first time. However, a Qatari tycoon sold over $0.6 billion worth of Barclays stock, causing the stock to plummet by over 4% intraday. At the close of the US stock market that day, the Dow Jones index fell by 0.22%, the S&P 500 index fell by 0.06%, and the Nasdaq index rose by 0.31%.

In October, the US JOLTS job openings were 8.733 million, far below expectations, hitting a new two-and-a-half-year low. The "New Us Fed News Agency" pointed out that this further indicates that the US labor market is cooling down. The November ISM services index in the US rebounded. The yield on 10-year US Treasuries hit a three-month low, while the 2-year yield approached a five-month low.

The US dollar index soared to a near two-week high. The price of Bitcoin rose by over $3000 intraday, surpassing $0.044 million, reaching a new one-and-a-half-year high. After the OPEC+ meeting, crude oil prices fell for four consecutive days, hitting a five-month low. The price of gold continues to decline, moving away from historical highs.

In the Chinese market, during US trading hours, Chinese concept stocks fell for three consecutive days, with Nio Inc rising by over 5% after its financial report; offshore Renminbi fell below 7.17 intraday, dropping by over 200 points. The CSI 50 index surged against the trend by over 7%, while the A-share market plummeted in the final trading session, with all three major indexes falling by over 1%. Net outflows of northbound funds exceeded 7.5 billion yuan. Nio Inc's third-quarter revenue increased by 46.6% year-on-year, setting a historic high for car deliveries; in a conference call, it was mentioned that independent manufacturing costs will decrease by 10%, and the upcoming new model is expected to become a new benchmark.

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Welcome to join the final sharing session of the financial wisdom in 2023.