According to Caixin, on November 26 (Editor Zhao Hao), on Monday (November 25), US stocks opened high and closed higher, with the three major indexes collectively rising, including the Dow closing at a historical high.

At the close, the dow jones industrial average rose by 0.99%, reporting 44,736.57 points, the s&p 500 index rose by 0.30%, reporting 5,987.37 points, both indexes set new records during the trading session; the nasdaq composite index rose by 0.27%, reporting 19,054.84 points.

The small cap e-mini russell 2000 index closed up 1.47%, also breaking the historical record set in 2021 during the session. Analysts believe that the market welcomed trump's nomination of scott bessent for the position of treasury secretary.

In his first interview after being nominated, bessent stated that his priority would be to fulfill trump's various tax cut promises. Investors believe that this hedge fund veteran will help ease some of trump's most extreme protectionist policies, bringing bullish sentiment to the stock market.

During the day, the u.s. 10-year treasury notes yield fell nearly 14 basis points. Quincy Krosby, chief global strategist at lpl financial, stated that the trend of u.s. treasury yields combined with the stock market's rise indicates that the market responded to trump's decision with a "textbook-style" positive reaction.

During the session, there were also signs of a slight easing of the situation in the middle east. John Kirby, the national security council strategic communication coordinator, stated that the discussions being held by the u.s. government regarding the ceasefire issue between lebanon and israel are "constructive" and progressing in the right direction toward reaching an agreement.

U.S. State Department spokesperson Matthew Miller added that the U.S. believes the gap between the negotiating parties on the ceasefire agreement has "greatly narrowed," but some measures still need to be taken to facilitate its achievement. The U.S. is pushing negotiations "as much as possible."

This Thursday, U.S. stocks will have a day off for Thanksgiving, and on Friday, the market will close three hours early. Therefore, this week's trading volume is expected to be lower, and the interest rate outlook will become a focal point, with the Federal Reserve set to release last month's meeting minutes on Tuesday and the board's most anticipated PCE inflation report on Wednesday.

Popular stocks performance

Large technology stocks had mixed performance (ordered by market cap), with apple rising 1.31%, reclaiming the title of 'world's largest market cap'; nvidia dropped 4.18%, microsoft rose 0.43%, amazon increased 2.20%, google C rose 1.72%, meta gained 1.07%, and tesla fell 3.96%.

Bitcoin dropped to around $0.094 million, with the crypto concept stock microstrategy falling 4.37%. Reports indicate that it purchased approximately 55,500 bitcoins for about $5.4 billion last week, with an average payment price per bitcoin of $97,862.

WTI crude oil futures closed down 3.23%, pressuring the U.S. stock energy sector, with conocophillips dropping 5.06%, exxon mobil falling 1.49%, and chevron declining 1.23%. Super micro computer continued its rebound trend, closing up 15.87%, after the company announced a new audit firm last week.

As for china concept stocks, the nasdaq china golden dragon index rose 0.44%.

Popular China concept stocks have varied movements, with iQiyi up 6.67%, TAL Education up 3.91%, Alibaba up 2.95%, Baidu up 2.91%, New Oriental up 2.49%, XPeng Motors up 0.72%, PDD Holdings up 0.62%, JD.com down 0.49%, NIO down 2.43%, Tencent Music down 2.95%, Weilai down 3.51%, and KE Holdings down 5.15%.

Company news

[California plans to push for electric vehicle purchase subsidies, Tesla will be excluded.]

California Governor Gavin Newsom announced on Monday that if Trump abolishes a federal subsidy after taking office next year, California plans to provide incentives to electric vehicle buyers. Newsom, a well-known Democrat who often criticizes Republican proposals, stated in a statement that a program California is gradually phasing out in 2023 may be revived to ease the burden on buyers, replacing Trump's plan to eliminate the $7,500 tax credit policy. The governor's office indicated that the current proposal includes market share restrictions that would exclude Tesla's best-selling electric vehicle models. Details will be negotiated with the state legislature and adjustments may be made. "This is to create market conditions for more auto manufacturers to get on the road," the governor's office stated.

[Baidu's 'Luobo Kuaipao' plans to conduct the first phase of testing in Hong Kong by the end of the year.]

Baidu's self-driving online car-hailing platform "Luobo Kuai Pao" plans to test operations in the Hong Kong area, with the first phase of testing at the airport possible as early as the end of this year. Baidu stated that it will strictly adhere to the relevant laws and conditions of the licensing in Hong Kong. The automated vehicles will meet the safety mileage or duration requirements for each testing phase, obtain approval from the Transportation Department, and only then proceed to the next testing phase. In terms of safety monitoring, the testing of "Luobo Kuai Pao" will be conducted during non-peak hours, with on-board backup operators who are local residents of Hong Kong with over 10 years of driving experience, sitting in the driver's seat to facilitate the continuous monitoring of the automated vehicle's driving situation and immediate takeover if necessary.