市场参与者似乎对特朗普的关税威胁视而不见，Harris Financial的管理合伙人Jamie Cox评论称，交易员要么预计关税不会实现，要么已经将这一因素计入股价。①Most tech giants rose, with only Tesla falling; ②eli lilly and co rose 4.5%, Biden proposed medical insurance coverage of weight loss drugs; ③China concept stocks Jinlong Index fell 0.8%, NIO fell 7.7%; ④Apple proposed a $0.1 billion investment to seek to lift the sales ban, rejected by the Indonesian government.
On November 27th, Caixin reported (Editor: Zhao Hao) that on Tuesday, November 26th, the three major US stock indices all rose, with the Dow and S&P both reaching historic highs.
At the close, the Dow Jones Industrial Average rose by 0.28% to 44,860.31 points, rising for the fifth consecutive day; the S&P 500 Index rose by 0.57% to 6,021.63 points, rising for the seventh consecutive day; the Nasdaq Composite Index rose by 0.63% to 19,174.30 points, rising for the fourth consecutive day.
Market participants seem to be turning a blind eye to Trump's tariff threats, with Jamie Cox, Managing Partner at Harris Financial, commenting that traders either expect the tariffs will not be implemented or have already factored this into stock prices.
Cox added: 'The market is more convinced that these tariffs are more of a bluff and a negotiating strategy, unlikely to be ultimately implemented.' In mid-trading, Canadian Prime Minister Trudeau stated that he had a good conversation with Trump on the evening of the 25th.
However, some individual stocks were still significantly impacted by tariff expectations, with General Motors and Ford Motor falling by 8.99% and 2.63% respectively. Mexican President Xi Boer mentioned that the major exporters from Mexico to the United States are General Motors, Stellantis, and Ford.
American beverage company Constellation Brands fell by 3.34%, with all its beer produced locally in Mexico. In the first half of the fiscal year, beer accounted for 86% of Constellation Brands' total sales.
At the same time, there was also some good news for the US stock market. Shortly before publication, the Israeli Prime Minister's Office issued a statement saying that Israel's Security Cabinet approved a ceasefire agreement between Israel and Hezbollah in Lebanon.
The minutes of the Federal Reserve meeting released during the trading day predict that the Fed may cut interest rates again by 25 basis points in December.
Popular stocks performance
Most large-cap tech stocks rose, ranked by market cap: Apple up 0.94%, Nvidia up 0.66%, Microsoft up 2.20%, Amazon up 3.18%, Google C up 0.70%, Meta up 1.49%, only Tesla down 0.11%.
Eli Lilly and Co rose by 4.55%, Novo Nordisk rose by 1.50%. The U.S. White House announced on its official website that the Biden-Harris administration proposed to expand the coverage of federal health insurance (Medicare) and medical assistance (Medicaid), including coverage for weight loss drugs.
Cryptocurrency concept stocks: MicroStrategy fell by 12.33%, Coinbase fell by 6.06%, MARA Holdings fell by 5.49%. According to Bitstamp's quote, Bitcoin continues to fall and has dropped to around $0.091 million.
As for China concept stocks, the Nasdaq Golden Dragon China Index fell by 0.84%.
Most popular China concept stocks fell: Nio down 7.71%, Li Auto down 2.72%, XPeng down 1.98%, Pinduoduo down 1.37%, Tencent Music down 1.07%, Alibaba down 0.47%, New Oriental down 0.36%, TAL Education down 0.10%, Baidu up 1.02%, JD.com up 2.38%.
Company news
【Apple proposes to increase its investment by 0.1 billion USD to seek lifting of sales ban, but is rejected by the Indonesian government】
The Indonesian government announced in October of this year that the sale of the iPhone 16 series in Indonesia is prohibited because Apple failed to meet the requirement that at least 40% of the components of smart phones sold in Indonesia must be locally manufactured. The Indonesian Ministry of Industry stated that Apple committed to investing 1.7 trillion Indonesian rupiahs (approximately 0.109 billion US dollars) in Indonesia last year, but the actual amount realized was only 1.48 trillion Indonesian rupiahs. After the ban was put in place, Apple proposed to increase its investment in Indonesia by 0.1 billion US dollars in exchange for the Indonesian government lifting the ban on the sale of new phones. However, Indonesian Minister of Industry Agus Gumiwang Kartasasmita stated that Apple's proposed investment plan did not meet the requirements of the Indonesian government, especially when compared to the scale of investment of this technology giant in other countries. He cited that Apple invested approximately 244 trillion Indonesian rupiahs (about 15 billion US dollars) in Vietnam, sold 1.5 million phones last year; sold 2.5 million phones in Indonesia, but only invested nearly 1.5 trillion Indonesian rupiahs.
【US airlines exposed for charging billions of dollars in seat selection fees, executives to face hearing】
The Senate Permanent Subcommittee on Investigations of the US Congress released a report criticizing US airlines for charging seat selection fees. The chairman of the subcommittee stated that airline executives have been summoned to testify at a hearing scheduled for December 4th regarding this practice. The report mentioned that from 2018 to 2023, American Airlines, Delta Air Lines, United Airlines, Spirit Airlines, and Frontier Airlines collectively charged 12.4 billion USD in seat selection fees, including seats with more legroom, those located at the front of the cabin, and window or aisle seats. It is reported that while most major US airlines have eliminated standard economy ticket change fees, they have increased charges for certain more popular or spacious seats on planes. Additionally, airlines are competing to add premium seats on board to increase revenue.
【Citigroup plans to reduce the number of year-end promotions】
Managers at Citigroup have been informed that next month, at most 2,000 Citigroup employees may receive pay raises and promotions, a number fewer than the approximately 8,000 in previous rounds.
