Outlook for the USA market: JP Morgan and Goldman Sachs pointed out that the US stock outlook is too pessimistic, with ARM temporarily dropping by more than 5%.

Hello, moomoo users! Here is the NY Stock Market outlook for tonight.

Market Overview
The U.S. market started, with the Dow Jones Industrial Average consisting of high-quality stocks opening at a decrease of $90.49 to $42,834.40, while the Nasdaq Composite Index, with a high proportion of tech stocks, started at a decrease of 71.07 points to 18,502.06. The S&P 500, consisting of 500 large-cap U.S. stocks, opened at a decrease of 16.70 points to 5,834.50.

Top news
Goldman Sachs and JP Morgan have conflicting views on the outlook for US stocks in the next 10 years.
Goldman Sachs predicts that the average annual return of the S&P500 in the next 10 years will only be 3%, while JP Morgan Chase thinks this view is too pessimistic.
According to data, when stock market returns fall below 3%, major crises such as financial crises and oil shocks occur, but there are no clear signs of a crisis at the moment.
Market trends are uncertain, but the S&P500 stock price earnings ratio is close to the level of the dot-com bubble, so investors need to be cautious.

According to Bloomberg, ARM is said to be canceling Qualcomm's license to use its intellectual property in semiconductor design.
This dispute brings uncertainty to Qualcomm's chip design business, leading to negative market reactions.

Federal Reserve Board should be cautious about rate cuts according to Bank of America CEO.
Bank of America CEO Brian Moynihan said the Federal Reserve Board (FRB) should be cautious about interest rate cuts. He expects another half-point cut by the end of the year.

Bonds are declining.
The dollar's rise has widened, global bonds have fallen, and Japan's 40-year bond yields have reached a 16-year high.

Investors' risk aversion stance has strengthened in the elections, leading to a sharp increase in dollar demand.
- As the US presidential election approaches, investors' dollar buying has surged, with Chinese-related currencies such as the Singapore dollar and Australian dollar being sold through the options market.
- Goldman Sachs predicted that if Trump wins the election and implements a high-tariff policy, the euro could potentially drop by as much as 10% against the dollar.

- While the market disagrees on Trump's influence, BlackRock's founder Larry Fink stated that the historical impact of elections on the market has often been overestimated.