截至收盘，道琼斯指数涨0.20%，报42,208.22点；标普500指数涨0.25%，报5,732.93点；纳斯达克指数涨0.56%，报18,074.52点。①The three major indices collectively rose, with the S&P 500 Index and the Dow hitting new highs again; ②China concept stocks generally soared, with the Nasdaq Golden Dragon Index up 9.13%; ③Nvidia rose about 4%, temporarily ending the selling by Huang Renxun; ④The US Department of Justice sued Visa, accusing it of illegal monopoly.
Finance Link News September 25 (Editor Xia Junxiong) Eastern time on Tuesday, the three major indices rose collectively, with both the S&P 500 Index and the Dow hitting historical highs during the trading day, and both reaching historical new highs at the close.
(Three major index minute chart, source: TradingView)
At the close, the Dow Jones Industrial Average rose 0.20% to 42,208.22 points; the S&P 500 Index rose 0.25% to 5,732.93 points; the Nasdaq Index rose 0.56% to 18,074.52 points.
The upward trend brought by the Fed's easing cycle continues, but the latest US economic data is disappointing, weakening the stock market's gains.
The US Conference Board announced on Tuesday that the Consumer Confidence Index for September fell from 105.6 in August to 98.7, far below the market's expected 104, marking the largest single-month drop in over three years. 98.7 is also the lowest point in three months.
Investors generally optimistically believe that despite the recent rise in US unemployment rates, the US economy can still avoid recession. The CME FedWatch Tool shows that traders are betting that there is over a 50% chance of the Fed cutting rates by 50 basis points in November.
On Tuesday, the People's Bank of China announced multiple major bullish policies for the real estate and stock markets, which led to a strong rise in China concept stocks, with many companies achieving double-digit increases. In addition, international oil prices rose in anticipation of increased demand from China, with Brent crude futures up 1.72% to $75.17 per barrel.
Nvidia rose by about 4%, regulatory filings show that Nvidia CEO Huang Renxun has temporarily halted the selling of the company's stocks.
Popular stocks performance
Most large tech stocks rose, with Apple up 0.40%, Microsoft down 1.00%, Nvidia up 3.97%, Google up 0.27%, Amazon up 0.04%, Meta down 0.19%, Tesla up 1.71%.
Popular China concept stocks saw a general big increase, with the Nasdaq Golden Dragon Index in China rising by 9.13%, marking the largest single-day gain in about two years.
Alibaba rose by 7.88%, JD.com rose by 13.91%, PDD Holdings rose by 11.24%, Nio Inc rose by 11.65%, Xpeng rose by 11.92%, Li Auto Inc rose by 11.35%, Bilibili rose by 17.02%, Baidu rose by 7.40%, Netease rose by 8.06%, Tencent Music rose by 16.40%, iQiyi rose by 14.02%.
Company news
The US Justice Department sues Visa, accusing it of illegal monopoly.
The US Justice Department filed a lawsuit against Visa on September 24th local time, accusing it of maintaining an illegal monopoly in the US debit card market. It is reported that Visa processes more than 60% of debit card transactions in the US and collects over $7 billion in fees annually.
The US Department of Justice's indictment alleges that Visa, by signing exclusive agreements with merchants and banks, isolates itself from competitors, locks in transaction volumes, and suppresses the development of smaller, lower-priced competitors.
Attorney General Merrick Garland stated that Visa's power allows it to charge fees far higher than what competitive markets can charge, ultimately leading merchants and banks to pass these costs on to consumers, affecting the prices of nearly all goods. In addition, Visa also incentivizes and threatens potential competitors to become its partners through financial incentives and the threat of punitive fees, rather than entering the market directly as competitors.
The Department of Justice believes that the company's behavior intentionally and systematically cuts off competition, preventing rivals from gaining the necessary scale, market share, and data.
Affected by this news, Visa fell by 5.49% on Tuesday.
Rio Tinto steps up efforts to gain public support for the lithium mine project in Serbia.
Rio Tinto has stepped up efforts to win public opinion in Serbia in order to mine Europe's largest lithium mine. The world's second-largest global mining company is engaged in a prolonged battle to win public support, with its mining plans facing widespread opposition due to environmental concerns.
Chevron paid more taxes in Australia in 2023 than in all other countries.
In 2023, Chevron paid $6.25 billion in taxes and oil production sharing to Nigeria, Angola, and Equatorial Guinea, more than three times what the company paid to the US government. Chevron operates a large-scale liquefied natural gas business in Australia, which ranks first on the tax revenue ranking, receiving $3.98 billion in taxes paid by the company. Despite Chevron's oil and gas production in the country exceeding that of any other country in the world, the company's taxes and royalties in the US amounted to $1.99 billion.
Eli Lilly and Co. announced on Tuesday that its Alzheimer's disease drug has been approved in Japan.
Eli Lilly and Co. stated on Tuesday that its drug aducanumab, used to treat Alzheimer's disease, has been approved by the Japanese Ministry of Health. Eli Lilly and Co. mentioned that Japan is the second major market for the drug after its approval in the United States under the brand name Kisunla.