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• The General Office of the CPC Central Committee and the State Council issued the "Action Plan for Effectively Reducing Logistics Costs Across Society."

The General Office of the CPC Central Committee and the State Council issued the "Action Plan for Effectively Reducing Logistics Costs Across Society." The goal is to reduce the ratio of total social logistics costs to GDP to around 13.5% by 2027. It mentions encouraging the development of new logistics models that combine with platform economy, low-altitude economy, and self-driving cars.

• The favorite inflation indicator of the Federal Reserve rebounds! The core PCE price index in the USA in October is 2.8% year-on-year, the stance on interest rate cuts in December may be more cautious.

On Wednesday, November 27, a report released by the U.S. Department of Commerce showed that although the Federal Reserve's favorite inflation indicator met expectations, the October data rebounded from September, reaching 2.8%. This data supports the stance of Federal Reserve officials to take a more cautious attitude towards future interest rate cuts. The latest CME Group "Fed Watch" tool indicates that traders expect a probability of about 70% for a 25-basis-point rate cut in December, while the probability of keeping rates unchanged is 30%.

• Fed rate cut expectations in December strengthened! The number of initial jobless claims in the United States unexpectedly rose to the highest level in 3 years.

In the week before Thanksgiving, the number of initial jobless claims in the USA dropped significantly to the lowest point in seven months, indicating that businesses have not laid off workers in large numbers as some economists predicted, demonstrating the robustness of the U.S. labor market. However, the number of continuing claims unexpectedly rose to the highest level in three years, indicating that many unemployed American workers may be experiencing long-term unemployment, which leaves room for the Federal Reserve to consider another rate cut in December, but it is not enough to support the same pace of rate cuts by the Fed in 2025.

• Strong consumer spending drives a steady increase in the U.S. GDP to 2.8% in the third quarter.

The USA economy steadily expanded in the third quarter, largely due to broad growth in consumer spending, while inflation continued to cool. The second report released by the Bureau of Economic Analysis on Wednesday showed that the annualized gross domestic product (GDP) growth rate for the third quarter was 2.8%, slowing from 3% in the previous quarter, but in the past nine quarters, the growth rate has exceeded 2% in eight of them. The main growth engine of the economy—consumer spending—grew by 3.5%, the highest level this year.

• Warnings about next year's performance? Executives of US companies are selling shares at a record-high rate not seen in twenty years.

Recently, the trend of "insiders" of US-listed companies selling company stocks has been so intense that it has raised media concerns. The Financial Times recently reported that a record number of US corporate executives are selling shares in their own companies, from Goldman Sachs to Tesla, and even the media group of incoming US President Trump, many executives are taking advantage of the stock market's surge following Trump's election to profit.

• Trump's team considers digital asset advocate Atkins for the SEC chairman position.

Reports indicate that Trump's transition team interviewed veteran financial regulatory figure Paul Atkins for the position of chairman of the US Securities and Exchange Commission (SEC). Atkins is a popular candidate to replace the outgoing SEC chairman Gary Gensler. According to knowledgeable sources who were not authorized to speak publicly, Trump is expected to make a decision on the candidate in the coming days. Atkins is a staunch supporter of digital assets and fintech companies and has testified in Congress on how to restructure the agency's operations and reduce regulations that some industry participants consider redundant or overly cumbersome.

• Bitcoin rose nearly 5%, surpassing the $96,000 level.

Ahead of the USA Thanksgiving holiday, the price of bitcoin surpassed the $96,000 level again on Wednesday, reaching a daily high of $97,353.

• As financial storms threaten, the yield spread on German government bonds in core European countries has soared to a new high not seen in over a decade.

A budget dispute has erupted in France, leading to a financial crisis, with financial markets fearing a resurgence of anxiety. The spread between French and German government bond yields has soared. On Wednesday, November 27th, the yield spread between French 10-year government bonds and their German counterparts widened to over 85 basis points during the session, marking the highest level in twelve years since the 2012 eurozone debt crisis.

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• The three major indices closed lower collectively, while the China concept stocks Golden Dragon Index rose nearly 3%.

On Wednesday, the three major US stock indices closed lower, ending a recent winning streak.

At the close, the dow jones industrial average fell by 0.31%, having historically surpassed 0.045 million points in pre-market; the s&p 500 index fell by 0.38%, ending a seven-day winning streak; and the nasdaq composite index dropped by 0.60%.

Most large technology stocks declined, with Tesla down 1.58%, microsoft down 1.17%, nvidia down 1.15%, amazon down 1.02%, Meta down 0.76%, apple down 0.06%, and only google C rising by 0.12%.

In terms of China concept stocks, the nasdaq china golden dragon index rose by 2.82%.

Most popular China concept stocks rose, with iqiyi increasing by 8.04%, ideal autos by 6.78%, jd.com by 5.26%, xpeng by 4.57%, tencent music by 3.97%, tal education by 2.38%, alibaba by 1.66%, nio by 1.62%, new oriental by 1.60%, baidu by 1.57%, and pdd holdings dropping by 0.51%.

• American antitrust regulators are conducting a broad investigation into microsoft, involving ai products and more.

The Federal Trade Commission (FTC) of the usa is$Microsoft (MSFT.US)$initiating an antitrust investigation that covers various aspects including cloud computing, software licensing, cybersecurity products, and artificial intelligence products. According to informed sources, after conducting informal interviews with competitors and business partners for over a year, the antitrust enforcement agency drafted a detailed request compelling microsoft to provide information. One source noted that this request, spanning hundreds of pages, has been sent to microsoft after being signed by FTC Chair Lina Khan.

• Texas leads antitrust lawsuits against blackrock, Vanguard, and DFunds in several states in the USA.

A coalition of several states led by texas is suing.$Blackrock (BLK.US)$、$American Vanguard (AVD.US)$State Street Corporation and other companies are suspected of violating antitrust laws by driving up electricity prices through investments. This is the most influential lawsuit faced by the struggling esg industry so far. Texas Attorney General Ken Paxton and ten other states accuse the three fund management companies of leveraging their market influence and membership in climate organizations to pressure coal producers to cut production.

• IDC: Global smart phone sales are expected to rebound strongly this year, but iPhone growth is sluggish.

According to the latest report from International Data Corporation (IDC), global smart phone sales are expected to rebound strongly in 2024 after two consecutive years of decline, but$Apple (AAPL.US)$growth remains weak, highlighting that competitors are capturing more market share. IDC's report indicates that global smart phone shipments are expected to grow by 6.2% to 1.24 billion units in 2024, ending the two-year decline and achieving a strong rebound. However, iPhone shipments may only grow by 0.4% this year.

• After appointing Donald Trump Jr. as an advisor, Unusual Machines saw its shares rise nearly 85%.

On Wednesday local time, after the US stock market opened, an obscure drone manufacturer$Unusual Machines (UMAC.US)$The stock once soared over 100% due to the company's connection with the Trump family in the USA. The company announced that bestselling author and investor Donald Trump Jr. has joined the company's advisory board. He is the eldest son of President Trump. By the close of trading, the company's stock rose nearly 85%.

• Dell Technologies' stock fell over 12% as Q3 revenue and earnings guidance fell short of expectations, although AI sales performance was strong.

The company's Q3 performance for FY 2025 shows revenue of $24.366 billion, a year-on-year increase of 9.51%, which is lower than the expected $24.65 billion. During the period, revenue from customer solutions business, including sales of enterprise and consumer personal computers, declined 1% year-on-year to $12.1 billion, falling short of analysts' average expectations; while revenue from infrastructure solutions business grew 34% year-on-year to $11.4 billion, slightly above analysts' average expectation of $11.3 billion.

As of the close, $Dell Technologies (DELL.US)$The stock fell over 12%.

• U.S. Secretary of Commerce: The U.S. AI safety research institute is collaborating with OpenAI and others.

US Secretary of Commerce Raimondo stated that the ai safety research institute is working with OpenAI and Anthropic to conduct voluntary pre-deployment testing of ai models, and has collaborated with the united kingdom safety research institute to release the first joint government advanced ai model pre-deployment test. The aim of the institute is to support safety efforts in the industry without hindering progress. The organization emphasizes the importance of ensuring that ai serves humanity and addresses the threat of widespread unemployment.

Top 20 in transaction volume

BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.

• Northern waters bought nearly 1.7 billion HKD of alibaba, purchased over 0.9 billion HKD of meituan, and sold over 0.4 billion HKD of xiaomi.

On November 27 (Wednesday), southbound funds net purchased 5.271 billion HKD of Hong Kong stocks.

$BABA-W (09988.HK)$、$MEITUAN-W (03690.HK)$、$TENCENT (00700.HK)$Net purchases were 1.687 billion Hong Kong dollars, 0.954 billion Hong Kong dollars, and 0.719 billion Hong Kong dollars respectively.

$TRACKER FUND OF HONG KONG (02800.HK)$、$XIAOMI-W (01810.HK)$、$YIDU TECH (02158.HK)$Net sales amounted to 1.037 billion HKD, 0.421 billion HKD, and 22.34 million HKD respectively.

The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.

Keywords: Thanksgiving market closure; Jiuyuan Genetics.

In terms of financial events, the usa stock market is closed today due to the Thanksgiving holiday.

In terms of new stocks, $JIUYUAN GENE (02566.HK)$Today will be listed on the Hong Kong stock market.

Futubull Morning News:

Ultimately, it is not the stock market or the listed companies that determine the fate of investors, but rather the investors themselves who decide their own fate.

—Peter Lynch

Editor/ping