Overnight US Stocks | Three major indexes recorded gains for the third consecutive week, with the Golden Dragon Index up approximately 24% this week

According to the financial news, on Friday, the three major indices showed mixed movements, but all three indices recorded gains for the third consecutive week. During the trading session, the Dow rose to a high of 42,628.32 points, setting a new intraday historical high. This week, the Dow rose by 0.59%, the S&P 500 rose by 0.62%, and the Nasdaq rose by 0.95%. All three major indices have recorded gains for the third consecutive week.

[US Stocks] At the close, the Dow rose by 137.89 points, or 0.33%, to 42,313.00 points; the Nasdaq fell by 70.70 points, or 0.39%, to 18,119.59 points; the S&P 500 fell by 7.20 points, or 0.13%, to 5,738.17 points. The NASDAQ Golden Dragon China Index rose by 3.99%, with a cumulative increase of about 24% this week. In terms of popular Chinese concept stocks, NIO Inc. USD OV (NIO.US) rose by over 12%, XPeng Inc. (XPEV.US) rose by over 8%, Zhihu Inc. (ZH.US) rose by over 10%, and Bilibili Inc. (BILI.US) rose by over 8%. Some semiconductor concept stocks declined, with Taiwan Semiconductor Manufacturing Company (TSM.US) falling by over 4% and NVIDIA Corporation (NVDA.US) falling by over 2%.

[European Stocks] The German DAX30 Index rose by 269.05 points, or 1.40%, to 19,489.25 points; the UK FTSE 100 Index rose by 36.37 points, or 0.44%, to 8,321.28 points; the French CAC40 Index rose by 49.70 points, or 0.64%, to 7,791.79 points; the Euro Stoxx 50 Index rose by 35.96 points, or 0.71%, to 5,068.55 points; the Spanish IBEX35 Index rose by 24.33 points, or 0.20%, to 11,977.53 points; and the Italian FTSE MIB Index rose by 317.66 points, or 0.92%, to 34,727.00 points.

[Asia-Pacific Stock Markets] The Nikkei 225 Index rose by over 2.3%, the Jakarta Composite Index fell by 0.61%, and the Vietnam VN30 Index rose by 0.13%.

[Gold] Spot gold fell by 0.53% to $2,658.24 per ounce, moving away from the historical high of $2,685.58 set on Thursday, with a cumulative increase of 1.38% this week. COMEX gold futures fell by 0.50% to $2,681.40 per ounce, with a cumulative increase of 1.39% this week. Spot silver fell by 1.41% to $31.5675 per ounce, with a cumulative increase of 1.25% this week.

[Cryptocurrencies] Bitcoin rose by over 1% to $65,888.4 per coin; Ethereum rose by 2.6% to $2,704.96 per coin.

[Crude Oil] NYMEX November WTI crude oil futures rose by 51 cents, or approximately 0.8%, to close at $68.18 per barrel; Brent November crude oil futures rose by 0.38 cents, or 0.53%, to $71.98 per barrel.

[Metals] London metals showed mixed movements, with LME zinc falling by 0.61%, LME copper falling by 0.96%; LME aluminum rising by 0.98%, and LME nickel rising by 1.77% 【Macro News】

US Consumer Confidence Rises to Five-Month High, Boosting Economic Optimism. US consumer confidence continued to rise in late September, reaching a five-month high, benefiting from increased optimism about the economy following the Fed's rate cut. The University of Michigan's final consumer sentiment index for September rose to 70.1, up from an initial value of 69 in August, which was 67.9. Data released on Friday showed that consumers expect an inflation rate of 2.7% in the next year, the lowest level since the end of 2020 and lower than the previous month's expectation of 2.8%. Expectations for inflation over the next five to ten years are at 3.1%. Fed policymakers decided on September 18 to cut rates by 50 basis points to prevent further deterioration in the job market. Further reduction in borrowing costs helps support consumers' outlook on the economy and their personal financial situation. Government data released earlier on Friday showed moderate growth in personal spending in August. The university's report indicated that despite some concerns about the labor market earlier this month, consumers' views on unemployment improved in the following weeks. This partly reflects the Fed's rate cut decision. About 55% of respondents believe that borrowing costs will decrease in the next year, the highest proportion on record.

Fed's Mester: Fed Should "Gradually" Cut Rates. According to foreign media reports, St. Louis Fed President Mester stated that after the 50 basis point rate cut earlier this month, which was larger than usual, the Fed should resume a "gradual" approach to rate cuts. Mester said that the US economy may respond "very positively" to a looser financial environment, stimulating demand and extending the time needed for the Fed to lower the inflation rate to 2%. "For me, this is about easing off the gas pedal at this stage. This is about gradually reducing policy constraints," Mester said. According to forecasts released at this month's meeting, he is one of the officials expecting a rate cut of over 25 basis points for the remainder of the year.

Hurricane "Helen" Makes Landfall in the US, Causing at Least 20 Deaths. On September 27th local time, Hurricane "Helen" swept across the United States, causing at least 20 deaths so far. Among them, 11 in Georgia, 5 in Florida, 2 in South Carolina, and 2 in North Carolina. Data from the US Power Tracking website shows that more than 4 million households and businesses in Florida, Georgia, South Carolina, and North Carolina are still without power. According to data released by the National Hurricane Center, when "Helen" made landfall in the Daytona Beach area of Florida, the storm center's wind speed reached 225 kilometers per hour, making it the strongest hurricane to make landfall in the Daytona Beach area on record.

【Stock News】

Volkswagen (VWAGY.US) Lowers Full-Year Delivery Forecast. Volkswagen expects to deliver 9 million vehicles for the full year, analysts expected 8.1 million; expects full-year operating profit to reach around €18 billion; expects full-year sales revenue of approximately €320 billion; expects full-year net cash flow from the automotive sector to be €2 billion, down from the company's original forecast of €2.5-4.5 billion; expects full-year sales operating return on sales (ROS) to be 5.6%, analysts expected 6.51%, the company originally expected 6.5%-7.0% AMD (AMD.US) welcomes a milestone moment, Oracle (ORCL.US) collaborates with MI300X to build a supercomputing cluster. Oracle, a global technology giant known for its cloud computing services and database software, recently chose to equip its latest OCI computing supercluster instance with the AMD Instinct MI300X AI accelerator featuring the ROCm open software ecosystem. This AI accelerator is considered the most powerful competitor to NVIDIA's H100 and H200 AI GPUs, providing the core artificial intelligence computing power hardware support for Oracle's latest supercluster instance. Collaborating with Oracle is a "milestone moment" for AMD (AMD.US), which currently holds less than 10% market share in the data center AI GPU market, indicating AMD's gradual integration into the global cloud computing giant circle and its potential to continuously capture market share from NVIDIA in the AI GPU market.

Tesla (TSLA.US) German factory employees frequently take sick leave, Musk personally investigates. Tesla's high absenteeism rate at its only car factory in Europe has caught the attention of CEO Musk. The CEO wrote on the X platform that he is investigating the issue after a user on a social media service shared a report from the German newspaper "Handelsblatt". According to reports, the sick leave rate of employees at the Tesla factory in Grünheide, Brandenburg, rose to 17% in August, more than three times the average level in the German automotive industry last year. In recent months, Tesla has repeatedly halted production at the factory for reasons including protests against the company's factory expansion and supply chain disruptions. The automaker has also been struggling to cope with slowing demand - its registrations in Europe have dropped by 16% in the first eight months of this year. According to a recording of an internal meeting last week, factory management has visited the homes of Tesla employees on sick leave. However, some individuals reportedly refused the visits by executives and even threatened to call the police. Dirk Schulze, regional director of Germany's largest industrial union IG Metall, stated: "The home visits to Tesla employees are another absurd action taken by the factory in response to the long-term above-average sick leave rate." Schulze said in an email statement that employees of the company reported "very high workloads," with management pressuring sick and healthy employees to work beyond their capacity. It is reported that Tesla's factory employs approximately 12,000 workers and produces the best-selling passenger car in Europe last year, the Model Y