According to the financial media, on Tuesday, the three major indices rose while crude oil prices continued to decline. The market this week is focusing on the Federal Reserve meeting minutes, September CPI inflation data, and the upcoming earnings season.

[US Stocks] At the close, the Dow Jones rose by 126.13 points, an increase of 0.30%, to 42080.37 points; the Nasdaq rose by 259.01 points, an increase of 1.45%, to 18182.92 points; the S&P 500 index rose by 55.19 points, an increase of 0.97%, to 5751.13 points. Nvidia (NVDA.US) rose by 4%, Apple (AAPL.US) rose by 1.8%. The Nasdaq Golden Dragon Index fell by 6.8%, Alibaba (BABA.US) dropped by 6.6%. The US Treasury bond yields remained above 4%, the US dollar hovered near an eight-week high, gold fell for the fifth consecutive time, silver fell by nearly 5%, and copper fell by nearly 2%.

[European Stocks] The German DAX30 index fell by 21.11 points, a decrease of 0.11%, to 19073.25 points; the UK's FTSE 100 index fell by 113.44 points, a decrease of 1.37%, to 8190.18 points; the French CAC40 index fell by 54.70 points, a decrease of 0.72%, to 7521.32 points; the Euro Stoxx 50 index fell by 20.06 points, a decrease of 0.40%, to 4949.65 points; the Spanish IBEX35 index rose by 21.10 points, an increase of 0.18%, to 11738.60 points; the Italian FTSE MIB index fell by 83.52 points, a decrease of 0.25%, to 33731.00 points.

[Asia-Pacific Stock Markets] The Nikkei 225 index fell by 1%, the Jakarta Composite Index rose by 0.71%, and the Vietnam VN30 index rose by 0.27%.

[Cryptocurrencies] Bitcoin rose by 0.06%, to $63,126.5 per coin; Ethereum rose by 0.12%, to $2442.07 per coin.

[Crude Oil] The West Texas Intermediate (WTI) futures for delivery in November on the New York Mercantile Exchange fell by $3.57, a decrease of 4.63%, to settle at $73.57 per barrel. Brent crude oil futures for delivery in December on the Intercontinental Exchange fell by $3.75, a decrease of 4.63%, to settle at $77.18 per barrel.

[Metal] London metal fell, with nickel down more than 1.2%, copper down 1.95%, aluminum and zinc down more than 3%.

Macro news

The U.S. 3-year Treasury bond auction bid yield was higher than the pre-auction trading level. The U.S. Treasury issued $58 billion in 3-year Treasury bonds, with a bid yield of 3.878%, the highest since July, while the pre-auction trading level at 1:00 pm Eastern Time was 3.871%. A previous round of increases pushed the yield down by about 2.5 basis points. The market had little reaction to the auction results, with the yield curve steepening intra-day. Primary dealers were allotted a ratio of 19.2%, higher than the previous three times, while indirect bidders saw their ratio drop to 56.9%, and direct bidders' ratio rose to 24%, the highest in a decade; the bid-to-cover ratio was 2.45 times, compared to the previous six times' average of 2.57 times.

The U.S. trade deficit in August narrowed significantly, but may still drag on economic growth. Institutional analysis pointed out that the U.S. trade deficit in August narrowed significantly due to an increase in exports and a decrease in imports. Trade may still slightly impede third-quarter economic growth. The U.S. Department of Commerce announced on Tuesday that the trade deficit shrank by 10.8% from the revised $78.9 billion in July to $70.4 billion in August. U.S. trade has dragged on GDP for two consecutive quarters. Current annualized growth rate expectations for the third quarter are as high as 3.2%. In the second quarter from April to June, the U.S. economic growth rate was 3.0%.

Bridgewater Associates founder Dalio does not believe the Fed will 'substantially' cut interest rates. Billionaire investor Ray Dalio does not believe the Federal Reserve will make another significant cut to the benchmark interest rate after the 0.5 percentage point cut last month. Dalio said, 'The economy is currently in a relatively good balance.' The Fed made its first rate cut in four years last month, but a strong employment report released later provided room for the decision-making body to slow its pace. Dalio also discussed the policies of U.S. presidential candidates, Trump and Harris, and expressed concerns about the bond market. Dalio pointed out that the supply and demand in the U.S. bond market are in an unusual state. U.S. treasuries account for a high proportion of institutional investors' portfolios, with a sense of over-allocation. Geopolitical uncertainty is also one of the issues faced by the U.S. bond market.

El-Erian: Speculation surrounding the Fed's monetary policy path is causing market turmoil. Prominent columnist and Master of Cambridge University's Queen's College El-Erian stated that the current guessing game about the Fed's monetary policy path is causing market volatility. U.S. treasuries have experienced significant selling, with the previously strong September non-farm payrolls report prompting traders to quickly lower their bets on a substantial Fed rate cut in the future. The decline since Friday has driven benchmark 2-year and 10-year U.S. treasury yields to rise above 4% for the first time since August. Swap traders now predict an 80% probability of a 25-basis-point rate cut by the Fed in the November meeting. The likelihood of a 50-basis-point rate cut in November has dropped from over 60% to zero in the past 15 days. El-Erian added that the Fed's communication since 2021 has 'amplified' market volatility, although policy guidance should have had the opposite effect.

EIA lowers price expectations for U.S. and Brent crude oil for the next two years. EIA Short-Term Energy Outlook report: Brent prices expected to be $81 per barrel in 2024, previously expected at $83 per barrel. Brent prices expected to be $78 per barrel in 2025, previously expected at $84 per barrel. WTI crude oil prices expected to be $77 per barrel in 2024, previously expected at $79 per barrel. WTI crude oil prices expected to be $73 per barrel in 2025, previously expected at $80 per barrel.

[Individual stock news]

NVIDIA (NVDA.US) has risen for the fifth consecutive day. The global computing chip leader NVIDIA's stock price has risen for the fifth day in a row, with the stock price just a step away from the historical closing high of $135.58 in June. On Tuesday, Foxconn/Fujian, a well-known technology manufacturing company, held its annual Technology Day, during which it revealed that the company is building a large artificial intelligence server manufacturing facility in Mexico to meet the 'crazy' demand for NVIDIA's latest GB200 system worldwide. Foxconn's director Liu Yangwei said at the conference that as Huang Renxun said, the demand for Blackwell chips is very high, and the company's Mexican factory's production capacity will be huge. The company is also using NVIDIA's Omniverse software to build a highly automated Mexican factory, using AI to create a factory that produces AI chips. At the same time, tech giant Microsoft's Azure cloud service announced on Tuesday that it has obtained servers equipped with the GB200 chip. Azure emphasized that it is the first company in the world of cloud service providers to use the Blackwell system and the tech giant's new servers also feature Infiniband interconnection technology and innovative closed-loop liquid cooling technology.

The Federal Aviation Administration of the United States has issued a safety alert regarding Boeing (BA.US) 737 rudder issues. On October 8th local time, the Federal Aviation Administration (FAA) announced that it has issued a safety alert to airlines, warning that the rudder movement of certain Boeing 737 models may be restricted or stuck. Previously, on September 30th, the U.S. National Transportation Safety Board stated that over 40 Boeing 737 aircraft operated by foreign carriers may be using aircraft with rudder control system components that pose potential safety risks. The FAA stated that the alert issued on the 8th provides information about automatic checks of existing rudder systems, which will identify restricted or stuck rudder movement before landing.

Tesla (TSLA.US) launches a new long-range Model 3 in the UK. Tesla has introduced a new long-range version of the Model 3 in the UK, with WLTP range increasing from the standard range of 363 miles to 436 miles (approximately 701 km). Priced at £44,990 in the UK (approximately RMB 0.4149 million), it is £5,000 more than the standard range rear-wheel-drive version, and the new car will start deliveries in November. Compared to the current Model 3, the new long-range version has no changes in appearance and interior, but the vehicle's energy consumption and range have been further optimized and improved. Tesla introduces that the new car has an energy efficiency of 4.96 miles per kWh (equivalent to 1 kWh driving 7.98 km), making it the most energy-efficient model Tesla has ever produced. Currently, Tesla also has three models available in China, including the standard range rear-wheel-drive version, long-range all-wheel-drive version, and high-performance all-wheel-drive version.