①S&P and Nasdaq maintained gains for the second consecutive day, while Dow was dragged down by financial giants; ②After the closing today, it will be more lively: Trump-Harris debate, CPI data will take the stage alternately; ③After releasing the financial report, Oracle's stock price surged 11% to hit a historical high; ④Sony released a new PS5 Pro console, with 90% of gamers lamenting the high price.
Finance Link September 11th news (Editor Shi Zhengcheng) Last night and this morning, on the eve of the two key events of the week, the overall U.S. stock market maintained a mild upward trend. Apart from Dow, which was dragged down by the Wall Street giants, S&P and Nasdaq continued to rise for the second consecutive day.
At the close, the S&P 500 index rose by 0.45% to 5495.52 points; the Nasdaq index rose by 0.84% to 17025.88 points; the Dow Jones Industrial Index fell by 0.23% to 40736.96 points.
After the U.S. stock market closed, Trump and Harris will hold a face-to-face presidential candidate debate at 9 a.m. Beijing time, and tonight at 20:30 they will face the U.S. CPI data for August. At this point in time, it is difficult to predict the mental state of the U.S. stock market at the opening on Wednesday.
(Trump and Harris have different podium sizes, Source: ABC)
As a reference, UBS rushed to update their forecast for the U.S. election before the debate began. Analysts believe that the probability of Harris winning and controlling the House of Representatives but losing the Senate is 40%, while the probability of Trump achieving a "Red Wave" is 35%.
It is worth mentioning that while the U.S. stock market is relaxed waiting for important events to unfold, Wall Street giants have jumped out at this juncture to engage in "expectation management," finally triggering a collective plunge in financial stocks.
This has been going on since yesterday. At the Barclays Global Financial Services Summit, Goldman Sachs CEO Solomon mentioned on Monday that the third-quarter performance may not be ideal, and JPMorgan Chase President Pinto reiterated on Tuesday that analysts' expectations for the company's performance were too high.
With this statement, the stock price of the largest bank in the United States plunged more than 7% during the day, but fortunately recovered some at the end to avoid the embarrassment of the 'largest single-day decline in nearly four years'. Goldman Sachs also fell by 4.39%, and these two were also the core reasons for the Dow's decline today. In addition, the CEO of Bank of America, Moynihan, also stated that investment banking business in the third quarter may be weaker, and emphasized that he did not know why Buffett sold the company's stocks.
Hot stocks rose and fell.
On Tuesday, most of the technology giants continued their upward trend, with Apple down 0.36%, Microsoft up 2.09%, Amazon up 2.37%, Meta unchanged, Google-A down 0.03%, Tesla up 4.58%, Nvidia up 1.53%, and Intel down 0.47%.
Chinese concept stocks also showed a moderate increase, with the Nasdaq China Golden Dragon Index up 0.06%. Alibaba rose 2.90%, Baidu rose 0.51%, Pinduoduo rose 0.65%, JD.com rose 0.35%, Netease fell 1.47%, NIO fell 1.62%, Li Auto rose 3.87%, and XPeng rose 2.70%.
Other news
The largest bank in the United States actively 'manages expectations'.
JPMorgan Chase, the largest bank in the United States and the world's most systemically important bank, fell 5.19% on Tuesday, marking the largest single-day decline since April this year. It is reported that JPMorgan Chase's President and Chief Operating Officer, Pinto, stated at an industry conference that external analysts' predictions for the bank's expenses and net interest income for next year were overly optimistic, including net interest margin and other business areas being overestimated.
Sony releases new PS5 Pro console, 90% of players exclaim 'it's expensive'
On Tuesday night Beijing time, consumer electronics giant Sony released the upgraded version of the game console PlayStation 5, the PS5 Pro. While the game rendering speed will be increased by up to 45%, the pricing of the new machine has also risen to an unexpected $699. A survey conducted by well-known gaming website IGN subsequently showed that over 90% of respondents considered Sony's pricing to be "too expensive" or "a bit expensive."
However, Wall Street seems to have a different opinion. Sony's American stocks briefly dipped after the release of the PS5 Pro price, but quickly climbed back up and ended up rising over 2%.
【UBS uses AI tools to assist in mergers and acquisitions with a coverage of 0.3 million companies within 20 seconds】
UBS Group has developed an artificial intelligence (AI) tool to help provide potential merger and acquisition transactions to its clients. This tool can analyze a database covering over 0.3 million companies in less than half a minute. Brice Bolinger, head of UBS's Swiss M&A business, said on Tuesday at the 27th M&A Conference in Zurich that UBS has created its own M&A 'co-pilot' to propose buyer ideas and identify potential buyers in a seller's context.
【Oracle stock price surges 11% to a new all-time high】
Due to better-than-expected financial results announced after market close yesterday and the announcement of partnerships with Amazon AWS and Google Cloud, Oracle rose 11.44% on Tuesday, reaching a new all-time high.
【Starbucks' new CEO promises to focus on stores and coffee】
Starbucks' newly appointed CEO, Brian Niccol, said that he plans to double efforts to improve the company's physical stores, as digital ordering has completely changed the way this coffee chain operates. In an open letter on Tuesday, Niccol stated that he wants to once again make coffee shops a 'place of attraction', clearly distinguishing between dine-in and take-out services.