Breakfast | S&P 500 and Nasdaq both rose for two consecutive days, Jensen Huang from NVIDIA will be closely watched for his speech tonight
The US stock market was mixed, with NVIDIA up 1.53% and Oracle up over 11% hitting a new high. NVIDIA CEO Jensen Huang sold 240,000 shares of NVIDIA stock, cashing out $25 million. Apple and Google were fined simultaneously in Europe, with fines totaling up to 15 billion euros. The media reported that the EU will slightly reduce the proposed tariffs on electric cars imported from China. Canada has initiated consultations on potential tariffs on Chinese products such as batteries, semiconductors, and solar panels
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Dow falls, Oracle rises more than 11% to a new high
Investors maintained a cautious stance while waiting for Wednesday's CPI inflation data and the first debate between Trump and Harris, with no large-scale buying or selling behavior. The U.S. stock market showed mixed trends, with the Dow falling by 0.2%, the S&P 500 rising by 0.4%, and the Nasdaq rising by 0.8%.
Oil prices dragged down energy stocks, with Goldman Sachs and JPMorgan warning of performance prospects falling short of expectations, leading to a decline in bank stocks. The Dow fell by over 1% or 412 points at its lowest point. Tech stocks supported the market, with Oracle closing up by 11.44% to hit a historic high, boosting the Nasdaq by 0.84% and both the S&P 500 and chip stocks rising by about 1.2%.
NVIDIA rose by 1.53%, Amazon by 2.37%, Microsoft by 2.09%, and Meta remained nearly flat. Apple fell by 0.36%.
Chinese concept stocks had mixed performances. Tencent ADR fell by 1.16%, Meituan ADR fell by 0.72%, Bilibili fell by 0.33%, JD.com rose by 0.35%, Baidu rose by 0.51%, Pinduoduo rose by 0.65%, New Oriental rose by 1.3%, Vipshop rose by 1.81%, ZEEKR rose by 2.58%, XPeng rose by 2.7%, Alibaba rose by 2.9%, and Li Auto rose by 3.87%.
NVIDIA CEO Jensen Huang sold 240,000 shares of NVIDIA stock from September 6th to 9th, cashing out $25 million
Jensen Huang's speech on Wednesday will be closely watched
Jensen Huang will speak at the Goldman Sachs conference in San Francisco on Wednesday, with questions about Blackwell being a focus of attention. He plans to speak with Goldman Sachs CEO Solomon at 07:20 local time (10:20 PM Beijing time on Wednesday). Blackwell was launched six months ago but was delayed due to engineering issues.
Berkshire Hathaway sells $2.287 billion worth of Bank of America shares
Apple and Google fined a total of €15 billion in Europe
The European court ruled on the 10th that Apple must pay €13 billion in back taxes to Ireland. At the same time, the €2.4 billion fine against Google for abusing its monopoly power to suppress competitors was upheld.
Apple faces up to approximately $10 billion in taxes in the fourth quarter
The European court ruled that Apple must pay €13 billion in back taxes to Ireland, and the €2.4 billion fine against Google for abusing its monopoly power was upheld.
Bank of America customers bought a net $2.4 billion in stocks during last week's market plunge
Last week, the S&P 500 index had its worst week since March 2023, with retail investors and hedge funds becoming net buyers last week, while institutional clients were net sellers for the third consecutive week. Individual stocks recorded the largest inflow of funds in nine weeks, while ETFs recorded outflows for the second consecutive week. Eight out of eleven industries saw inflows last week, with the tech sector leading and experiencing the largest inflow since June. Communication services received the second largest inflow, while real estate, industrial, and materials stocks were sold off by the bank's clients
Media: EU to Slightly Reduce Proposed Tariffs on Electric Cars Imported from China
Canada Seeks Public Opinion on Potential Tariffs on Chinese Batteries, Semiconductors, Solar Panels, and More
The Canadian government announced on September 10 that it will seek public opinion for 30 days on potential new tariffs on Chinese products in areas such as batteries and battery components, semiconductors, solar products, key minerals, etc. Stakeholders can provide feedback on the potential measures until October 10. Previously, on August 26, the Canadian government announced tariffs and restrictions on imported electric cars and steel-aluminum products from China, and had also initiated public consultations before that.
Starbucks' New CEO: Focus on Stores and Coffee
Brian Niccol stated that he plans to double down on improving the company's physical stores, as digital ordering has fundamentally changed the operations of this coffee chain. He aims to once again make the coffee shops a "place where people gather," clearly distinguishing between dine-in and takeout services. His plans include investing in technology, enhancing the company's supply chain, and upgrading the mobile ordering platform.
ByteDance Ventures into Hardware Again: Exploring AI Headphones, Glasses, and Collaborating with Douyin's Large Models
ByteDance is exploring the integration of large models with hardware, developing AI hardware internally and collaborating with external hardware companies. ByteDance is also exploring the direction of AI glasses and may invest in a new company or establish an internal team. A former core figure of a large model in an internet company is already collaborating with ByteDance on developing AI glasses.