美国总统大选将于11月5日举行，美联储将于大选两天后公布利率决策。On the evening of the 25th Beijing time, the US stock market continued to rise in early trading on Friday, with technology stocks leading the gains. Tesla continued yesterday's upward trend. The yield on the 10-year Treasury bond slightly declined. The market continues to focus on US stock earnings reports, economic data, the presidential election, and the Fed's interest rate path. US durable goods orders in September fell by 0.8% month-on-month but were better than expected.
The three major U.S. stock indexes collectively rose, $Nasdaq Composite Index (.IXIC.US)$ up 1.45% to hit a record high, $S&P 500 Index (.SPX.US)$ Up 0.87%, $Dow Jones Industrial Average (.DJI.US)$ up 0.4%.
The yield on the 10-year US Treasury bond fell slightly to 4.19%. Due to traders lowering expectations of a rate cut by the Federal Reserve, the surge in US Treasury yields triggered a flight to safety across the market, causing US stock indices to record nearly a 1% decline this week. Despite some retracement in yields, Treasury yields rose by about 10 basis points this week.
The US presidential election will take place on November 5, with the Federal Reserve announcing its rate decision two days after the election.
Some analysts have warned that trade and tax policies supported by Trump may once again trigger inflation. The market has been betting on Trump's return to the White House, earlier this month expecting his tax policies to offset the additional inflationary pressures caused by tax hikes, pushing Wall Street stocks to new all-time highs.
However, with Republican candidate Trump neck and neck with Democratic vice president Harris in key swing states, investors are concerned about the possible global market turmoil and new geopolitical uncertainties that controversial election results might bring.
Raphael Gallardo, Chief Economist of Carmignac Cross-Asset, said: 'The future may experience two to three months of uncertainty and social risks, which will be negative for the market.'
On Friday, in terms of economic data, the trend of US durable goods orders in September: a decline in transportation equipment weighed on overall performance. With the decline in transportation equipment orders, US durable goods orders in September fell for the third time in the past four months.
According to adjusted data released by the US Department of Commerce on Friday, new orders for products with a three-year lifespan such as cars, airplanes, and electronic equipment declined by 0.8% in September compared to August. Transportation equipment orders dragged down the overall order volume, with new transportation equipment orders declining by 3.1%.
Excluding transportation equipment, new orders rose by 0.4%, while excluding defense items, orders decreased by 1.1%.
Ahead of the release of the monthly employment report on November 1st, the published economic data shows a surprising decrease in US jobless claims. The Fed cut rates by 50 basis points in September, marking the first significant adjustment since 2020, but traders have reduced expectations for another significant rate cut next month, with most expecting a cut of 0.25 percentage points.
Focus stocks
Growth tech stocks are rising. $Advanced Micro Devices (AMD.US)$ Up more than 3%, Wheaton Precious Metals (WPM.US) fell more than 13%, with silver falling more than 4%, and others falling more than 2%. $Tesla (TSLA.US)$Please use your Futubull account to access the feature.$NVIDIA (NVDA.US)$Please use your Futubull account to access the feature.$Meta Platforms (META.US)$Please use your Futubull account to access the feature.$Taiwan Semiconductor (TSM.US)$ rising over 2%, $Microsoft (MSFT.US)$Please use your Futubull account to access the feature.$Alphabet-A (GOOGL.US)$ Rising more than 1%.
China concept stocks are rising. $XPeng (XPEV.US)$ rose more than 8%, $NIO Inc (NIO.US)$Please use your Futubull account to access the feature.$Li Auto (LI.US)$ Up more than 6%, $Bilibili (BILI.US)$Rising nearly 6%, $Alibaba (BABA.US)$ The TOPIX index rose more than 2%.
Donald Trump concept stocks surged again, $Phunware (PHUN.US)$ increasing by nearly 10%, $Trump Media & Technology (DJT.US)$ Up more than 6%, $Rumble (RUM.US)$ Rose nearly 6%.
Bitcoin rises above $68,000, with crypto concept stocks showing strength, $MicroStrategy (MSTR.US)$ rising over 2% to reach a new high for the year, $Bit Digital (BTBT.US)$Please use your Futubull account to access the feature.$Iris Energy (IREN.US)$ rising over 2%, $Coinbase (COIN.US)$ Rising more than 1%.
Chinese solar stocks in the US stock market are showing strong upward momentum, $Daqo New Energy (DQ.US)$ up nearly 16%. $JinkoSolar (JKS.US)$ $Canadian Solar (CSIQ.US)$ In terms of news, the iPhone 16 series is expected to be released in September 2024 and may be officially unveiled on September 10. Soochow Securities' research report also pointed out that with August entering the peak season for iPhone new component stocking, production and delivery are expected to accelerate, and the market is highly concerned about the launch of the iPhone 16 series in September.
$Tesla (TSLA.US)$ Rising nearly 2%, the stock surged 22% at Thursday's close, marking the largest gain in over a decade.
$Taiwan Semiconductor (TSM.US)$ Up nearly 3%, quotes for 5 nanometers and below may rise again next year.
$Spirit Airlines (SAVE.US)$ Rose more than 22%, planning to sell 23 Airbus planes.
$Intel (INTC.US)$ Up more than 4%, planning to invest over 28 billion US dollars to build two new factories.
Performance turnaround, $Western Digital (WDC.US)$ Rose nearly 10%.
Editor/Somer
