The three major U.S. stock indices closed higher collectively. By the end of trading, the Dow Jones Industrial Average rose by 0.69%, the Nasdaq Composite increased by 1.3%, and the S&P 500 Index gained 0.6%. All three stock indices reached historical closing highs. Former President Trump chose digital asset advocate and seasoned financial regulator Paul Atkins as the Chairman of the U.S. Securities and Exchange Commission, with Bitcoin touching $99,000.
Cryptocurrency-related stocks showed strength, with Bit Digital surging over 13%, MicroStrategy rising nearly 9%, Canaan Technology increasing nearly 8%, Riot Platforms and Coinbase both up nearly 7%. Marvell Technology jumped over 23% as the company reported better-than-expected earnings for the third quarter and issued a robust fourth-quarter guidance. Salesforce rose over 11%, with third-quarter results exceeding expectations and an increase in full-year revenue guidance.The NASDAQ Golden Dragon China Index closed down by 1.38%, with most popular Chinese concept stocks falling, Gaotu dropping over 10%, JD.com and New Oriental both down over 3%, Baidu, iQiyi, and Li Auto all down over 1%. On the upside, NetEase rose by 1.6%, and XPeng Motors increased by 0.79%.
Global News: U.S. ADP Employment Numbers for November increased by 146,000, below market expectations. The U.S. ADP Employment Numbers for November increased by 146,000, with an estimate of an increase of 150,000, and a previous value of an increase of 233,000.
Seoul saw a mass rally of tens of thousands demanding the resignation of President Yoon Seok-yeol. According to CCTV News, at 6 pm on December 4th, local time, several citizen groups in South Korea held a rally at Gwanghwamun in Seoul, demanding the resignation of President Yoon Seok-yeol.
The ‘Korean Martial Law Storm’ shocked the world, what are the implications for investors? A comprehensive article to understand the impact of the ‘Korean Martial Law Storm’ that has stunned the globe in the past few hours. Global investors have been unexpectedly hit by geopolitical whirlwinds. Wall Street analysts generally believe that the storm will have little impact on U.S. investors, but international investors need to closely monitor the situation.
The ‘Currency Defense War’ has suddenly begun, with central banks of multiple countries already taking action. The strong U.S. dollar has launched a surprise attack, causing significant depreciation pressure on the exchange rates of countries like India, Indonesia, Malaysia, and South Korea. Central banks have begun to intervene in an attempt to stabilize exchange rates.
OECD: Global economic growth is expected to pick up slightly next year, but high tariffs and budget deficits pose risks. On Wednesday (December 4th), local time, the Organization for Economic Cooperation and Development (OECD) warned that as inflation continues to cool, global economic growth is expected to accelerate slightly. However, if tariffs rise and governments fail to reduce large budget deficits, global economic growth may slow down.
An AI ‘magical tool’ created by four MIT undergraduates can be programmed even by 8-year-olds. Annual income reaches 65 million US dollars.