According to a report by the Financial Associated Press on December 10 (editor Niu Zhanlin), major Wall Street indices collectively closed lower on Monday, with ai leader Nvidia's stock price decline dragging down technology stocks, as investors await the critical inflation report set to be released later this week, which will influence the Federal Reserve's policy path.

Nvidia's stock fell nearly 4% during the day, but the cumulative increase for this year still stands at an impressive 180%. Previously, China's market regulator started an investigation into the chip manufacturer for allegedly violating antitrust laws, and the information technology sector performed poorly throughout the day.

Sam Stovall, chief investment strategist at New York CFRA Research, stated, "China's investigation into Nvidia for potential antitrust violations indeed caught the market by surprise, placing some obstacles in the way of tech stocks, but I do not believe this will overturn the upward trend by the end of the year."

Investors will closely monitor the Consumer Price Index (CPI) for November to be released on Wednesday, with expectations of a 2.7% year-on-year increase and a 0.3% month-on-month increase. Any signs of stagnation regarding inflation progress could reduce the likelihood of the Federal Reserve cutting rates for the third consecutive time.

Additionally, the Federal Reserve will hold its final monetary policy meeting of the year next week. While the market expects an over 85% probability of a rate cut next week, several Federal Reserve officials, including Chairman Powell, have emphasized the need for caution when easing monetary policy in light of economic resilience.

Freedom analyst Jay Woods stated, "The inflation data released this Wednesday could be crucial for the Federal Reserve's next steps. So far, the overall results have met economists' expectations. However, if inflation unexpectedly rises, the Federal Reserve may pause rate cuts."

Citigroup strategists expect the US stock market to continue rising in 2025, driven by the soft landing of the US economy, ai hype, and favorable policies from Trump, with a basic target of the S&P 500 index reaching 6,500 points.

The nasdaq golden dragon china index closed up 8.54%, and the ftse china 3x long etf (YINN) rose 23.78%. Previously, the standing committee of the central political bureau of the communist party of china held a meeting: In the coming year, a more proactive fiscal policy and moderately loose monetary policy will be implemented to vigorously boost consumption, improve investment efficiency, and expand domestic demand in all directions.

Market Dynamics

By the end of the trading day, the dow jones fell 240.59 points, a decline of 0.54%, closing at 44401.93 points; the nasdaq dropped 123.08 points, a 0.62% decline, closing at 19736.69 points; the s&p 500 index decreased by 37.32 points, a 0.61% drop, closing at 6052.95 points.

Among the 11 sectors of the s&p 500 index, only the medical care and real estate sectors recorded gains. Communications services fell 1.3%, the financial sector dropped 1.4%, and the energy sector declined 0.2%.

Popular stocks performance

Large technology stocks showed mixed results, with apple up 1.61%, microsoft up 0.55%, meta down 1.64%, tesla up 0.15%, google A up 0.49%, amazon down 0.41%, and nvidia down 2.6%.

AMD fell 5.6% after bank of america downgraded its stock rating from buy to neutral, citing limited market share growth potential under nvidia's shadow.

Cryptocurrency concept stocks plummeted, with microstrategy down 7.5%, coinbase falling over 9%, and bitcoin dropping below the 0.095 million dollar mark.

All gold and silver mining stocks rose across the board, with coeur mining rising over 7%, hecla mining and harmony gold mining rising over 6%, and pan american silver rising over 5%.

Hot china concept stocks collectively surged, with Tiger Brokers rising over 26%, futu holdings ltd rising over 17%, bilibili rising over 21%, NIO and XPeng autos rising over 12%, iqiyi rising over 11%, jd.com rising 11%, and pdd holdings and netease rising over 10%.

Company news

[OpenAI officially launches AI video generation model Sora]

On Monday local time, OpenAI announced the official opening of the artificial intelligence (ai) video generation model Sora to users. This system can generate realistic videos based on text prompts, and it has been 10 months since OpenAI first previewed this product. According to OpenAI, Sora will be available to paid ChatGPT users in the USA and other markets later that day. The new tool Sora Turbo can generate videos with a maximum length of 20 seconds, and it can provide multiple variants of these videos. OpenAI CEO Altman stated that the initial use of Sora will still be limited, with ChatGPT Plus subscribers able to generate 50 low-resolution videos per month, ChatGPT Pro subscribers able to generate an unlimited number of "slower" high-resolution videos, and 500 fast-generated videos.

[McDonald's dining recognized by employees. Involved in the case of the insurance giant CEO's murder in New York, a man arrested in Pennsylvania.]

A 26-year-old man was arrested on Monday in Altoona, Pennsylvania, as he is considered a person of interest by New York police regarding the murder of UnitedHealth Group Inc. executive Brian Thompson in Manhattan. The man, named Luigi Mangione, was identified by employees while dining at a local mcdonald's. Police stated that he was carrying a manifesto, multiple false identifications, an untraceable firearm referred to as a "ghost gun," and a silencer. NYC Police Commissioner Jessica Tisch said at a press conference that the documents found on the man explained his "motive and mindset." This is the biggest breakthrough in the case so far. Thompson, who died at the age of 50, was shot in the back and legs outside the hilton worldwide in downtown New York City on Wednesday morning, and police have labeled it a targeted murder.

[Mondelez International reportedly exploring acquisition of US chocolate producer Hershey, potentially creating a new food giant.]

Insiders reveal that Mondelez International, a snack and confectioners company, is exploring the acquisition of the famous American chocolate manufacturer Hershey. This potential deal is expected to create a food giant with total sales of nearly $50 billion. Insiders, who requested anonymity due to the discussions being confidential, stated that the Chicago-based Mondelez has made initial contact about a possible merger. As of last weekend, Mondelez's market cap was around $84 billion, while Hershey's was $35 billion. This is not the first time Mondelez has sought a deal with Hershey. The chocolate giant rejected Mondelez's $23 billion acquisition proposal in 2016, after which Mondelez withdrew from discussions about a potential acquisition.

[Google announces progress in quantum computing: completing a standard benchmark calculation in less than five minutes that would take the fastest supercomputer 10^25 years.]

On Monday local time, technology giant Google launched its latest quantum chip 'Willow' on its official blog, stating that it has achieved two significant milestones. The press release mentioned that Willow can exponentially reduce errors, addressing a key challenge in quantum error correction that has been researched for nearly 30 years in the field. Additionally, Willow completed a 'standard benchmark calculation' in less than five minutes. According to Google, even the fastest supercomputers today would require '10^25 years' to complete this calculation—a number far exceeding the age of the universe.

[MicroStrategy increases its shareholding in bitcoin again.]

According to documents submitted to the U.S. Securities and Exchange Commission on Monday, MicroStrategy purchased 21,550 bitcoins between December 2 and December 8, at an average price of about $98,783. The company's stock price has risen over 500% this year, stimulating demand from investors for the stock. Meanwhile, hedge funds have also been scrambling to buy the company's notes, which are used for market-neutral arbitrage, that is, profiting from surges in the volatility of the symbol assets. MicroStrategy has been one of the most volatile U.S. stocks this year.