【HEADLINES】
1. U.S. major indices diverged on Thursday (8th), with the Dow steady, while the S&P and Nasdaq fell, the latter dropping over 1% amid pressure from tech and chip stocks. Markets were also troubled by surging oil prices and high U.S. Treasury yields, increasing investor concerns over inflation and the prospect of further Fed rate hikes. The Dow rose 51.77 points, or 0.1%, closing at 51,231.64; the S&P fell 36.41 points, or 0.47%, to 7,765.36; the Nasdaq dropped 345.35 points, or 1.25%, to 27,193.34. The Nikkei opened at 68,419, down 623 points.
2. U.S. President Trump said on Thursday (8th) that the U.S. would not launch a military attack on Iran before the November 3 midterm elections, and stated that Washington is holding "productive" talks with Tehran. According to Iranian media, Iran's foreign minister said negotiations with the U.S. continue and will respond to U.S. proposals within days.
3. Federal Reserve Governor Waller said if upcoming economic data meet expectations, the Fed will need to raise rates further to bring inflation down more promptly toward the 2% target, though hikes need not occur consecutively, and policy pace can still be adjusted based on data. San Francisco Fed President Musalem hinted that further rate hikes may be needed over the next 6 to 9 months.
4. OpenAI's annualized revenue is reportedly close to $50 billion, below some market estimates of nearly $70 billion.
5. The U.S. has suspended Microsoft (US.MSFT), Adobe (US.ADBE), and several Indian-related labor outsourcing service providers from participating in the Permanent Labor Certification (PERM) program related to green card applications, citing visa system abuse. The PERM program is a key channel for Silicon Valley and Wall Street to acquire talent. U.S. Vice President Vance criticized Microsoft for laying off American workers and replacing them with foreign labor, saying the practice depresses U.S. wages and harms domestic employment.
6. The People's Bank of China published an article titled "The PBOC's Policy Position on the RMB Exchange Rate" on its website, clarifying positions such as "China has neither the need nor the intention to gain trade advantage through exchange rate depreciation," and urging against oversimplifying complex international monetary systems and structural economic issues as stemming from the RMB exchange rate.
7. Apple (US.AAPL) announced it will hold a special event themed "Welcome home" in New York on October 13, with market expectations that the company will strengthen its smart home strategy. Additionally, Apple is expected to launch its first touchscreen MacBook and a new iPad mini by the end of October.
8. Google (US.GOOG) announced the launch of Gemini for Workspace, a new AI agent designed for office settings. This agent has its own enterprise identity and can perform various tasks such as answering questions, content creation, and programming, and can work continuously over several days toward a single goal.
9. The Civil Aviation Administration of China released optimized measures for domestic route flight evaluations, aiming to curb "cutthroat" competition, requiring new carriers to add no more than 14 weekly flights.
【STOCK HIGHLIGHTS】
AI Large Model Stocks: MiniMax (00100), Zhipu (02513), Alibaba (09988)
- Reportedly, OpenAI's annualized revenue is close to $50 billion, far below some media estimates of nearly $70 billion
Apple-related Stocks: BYD Electronics (00285), Sunny Optical (02382), AAC Technologies (02018)
- Apple announced a smart home product launch event in New York on October 13, with the smart home hub positioned as a core product
- Apple reportedly plans to launch its first touchscreen MacBook and a new iPad mini by the end of October
Three Oil Giants: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Trump stated he would not attack Iran before the November midterm elections
Interest-rate Sensitive Stocks: Techtronic Industries (00669), Shenzhou International (02313), China Eastern Airlines (00670)
- PBOC stated China has no need or intention to gain trade advantage through exchange rate depreciation
Platform Stocks: Meituan (03690), Alibaba (09988), JD.com (09618)
- China plans new regulations to protect gig workers' rights, restrict algorithmic penalties, and clarify platform liability for infringement
Airline Stocks: China Southern Airlines (01055), Air China (00753), China Eastern Airlines (00670)
- CAAC stipulates that new carriers on domestic routes may add no more than 14 flights per week
Pony.ai (02026)
- To test seventh-generation Robotaxis with Uber in London
BYD (01211)
- Argentina's foreign minister said BYD is evaluating investment opportunities in Argentina's lithium industry chain
Eternal Sunshine Computing (01256)
- 8x oversubscribed, 10% allocation rate for single lots, dark pool up nearly 2%, book profit of 50 yuan, listed today
Seres (09927)
- September sales of 32,000 units, down 33%; first nine months sales down 17%
Weilu Technology (01196)
- Plans to cooperate with Longma Zhisuan to build an AI data center in Malaysia
Andejuice (02218)
- Plans to spend no more than RMB 180 million to repurchase A-shares, with repurchase price not exceeding RMB 100 per share
CSPC Pharmaceutical Group (01093)
- Clinical study on advanced cervical cancer treatment shows overall manageable safety and preliminary efficacy
【OIL & GOLD PRICES】
NYMEX crude oil down 0.34%, at $91.18/barrel
Brent crude oil down 0.40%, at $103.86/barrel
Spot gold up 0.27%, at $4,144.67/ounce
Gold futures up 0.28%, at $4,168.75/ounce
1. U.S. major indices diverged on Thursday (8th), with the Dow steady, while the S&P and Nasdaq fell, the latter dropping over 1% amid pressure from tech and chip stocks. Markets were also troubled by surging oil prices and high U.S. Treasury yields, increasing investor concerns over inflation and the prospect of further Fed rate hikes. The Dow rose 51.77 points, or 0.1%, closing at 51,231.64; the S&P fell 36.41 points, or 0.47%, to 7,765.36; the Nasdaq dropped 345.35 points, or 1.25%, to 27,193.34. The Nikkei opened at 68,419, down 623 points.
2. U.S. President Trump said on Thursday (8th) that the U.S. would not launch a military attack on Iran before the November 3 midterm elections, and stated that Washington is holding "productive" talks with Tehran. According to Iranian media, Iran's foreign minister said negotiations with the U.S. continue and will respond to U.S. proposals within days.
3. Federal Reserve Governor Waller said if upcoming economic data meet expectations, the Fed will need to raise rates further to bring inflation down more promptly toward the 2% target, though hikes need not occur consecutively, and policy pace can still be adjusted based on data. San Francisco Fed President Musalem hinted that further rate hikes may be needed over the next 6 to 9 months.
4. OpenAI's annualized revenue is reportedly close to $50 billion, below some market estimates of nearly $70 billion.
5. The U.S. has suspended Microsoft (US.MSFT), Adobe (US.ADBE), and several Indian-related labor outsourcing service providers from participating in the Permanent Labor Certification (PERM) program related to green card applications, citing visa system abuse. The PERM program is a key channel for Silicon Valley and Wall Street to acquire talent. U.S. Vice President Vance criticized Microsoft for laying off American workers and replacing them with foreign labor, saying the practice depresses U.S. wages and harms domestic employment.
6. The People's Bank of China published an article titled "The PBOC's Policy Position on the RMB Exchange Rate" on its website, clarifying positions such as "China has neither the need nor the intention to gain trade advantage through exchange rate depreciation," and urging against oversimplifying complex international monetary systems and structural economic issues as stemming from the RMB exchange rate.
7. Apple (US.AAPL) announced it will hold a special event themed "Welcome home" in New York on October 13, with market expectations that the company will strengthen its smart home strategy. Additionally, Apple is expected to launch its first touchscreen MacBook and a new iPad mini by the end of October.
8. Google (US.GOOG) announced the launch of Gemini for Workspace, a new AI agent designed for office settings. This agent has its own enterprise identity and can perform various tasks such as answering questions, content creation, and programming, and can work continuously over several days toward a single goal.
9. The Civil Aviation Administration of China released optimized measures for domestic route flight evaluations, aiming to curb "cutthroat" competition, requiring new carriers to add no more than 14 weekly flights.
【STOCK HIGHLIGHTS】
AI Large Model Stocks: MiniMax (00100), Zhipu (02513), Alibaba (09988)
- Reportedly, OpenAI's annualized revenue is close to $50 billion, far below some media estimates of nearly $70 billion
Apple-related Stocks: BYD Electronics (00285), Sunny Optical (02382), AAC Technologies (02018)
- Apple announced a smart home product launch event in New York on October 13, with the smart home hub positioned as a core product
- Apple reportedly plans to launch its first touchscreen MacBook and a new iPad mini by the end of October
Three Oil Giants: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Trump stated he would not attack Iran before the November midterm elections
Interest-rate Sensitive Stocks: Techtronic Industries (00669), Shenzhou International (02313), China Eastern Airlines (00670)
- PBOC stated China has no need or intention to gain trade advantage through exchange rate depreciation
Platform Stocks: Meituan (03690), Alibaba (09988), JD.com (09618)
- China plans new regulations to protect gig workers' rights, restrict algorithmic penalties, and clarify platform liability for infringement
Airline Stocks: China Southern Airlines (01055), Air China (00753), China Eastern Airlines (00670)
- CAAC stipulates that new carriers on domestic routes may add no more than 14 flights per week
Pony.ai (02026)
- To test seventh-generation Robotaxis with Uber in London
BYD (01211)
- Argentina's foreign minister said BYD is evaluating investment opportunities in Argentina's lithium industry chain
Eternal Sunshine Computing (01256)
- 8x oversubscribed, 10% allocation rate for single lots, dark pool up nearly 2%, book profit of 50 yuan, listed today
Seres (09927)
- September sales of 32,000 units, down 33%; first nine months sales down 17%
Weilu Technology (01196)
- Plans to cooperate with Longma Zhisuan to build an AI data center in Malaysia
Andejuice (02218)
- Plans to spend no more than RMB 180 million to repurchase A-shares, with repurchase price not exceeding RMB 100 per share
CSPC Pharmaceutical Group (01093)
- Clinical study on advanced cervical cancer treatment shows overall manageable safety and preliminary efficacy
【OIL & GOLD PRICES】
NYMEX crude oil down 0.34%, at $91.18/barrel
Brent crude oil down 0.40%, at $103.86/barrel
Spot gold up 0.27%, at $4,144.67/ounce
Gold futures up 0.28%, at $4,168.75/ounce
