On December 27th local time, European stock markets generally rose, with the French CAC40 index rising 1% and the Italian MIB index rising over 1%.
The three major US stock indices opened lower and fell across the board, with the Dow Jones Industrial Average falling more than 330 points and the Nasdaq and S&P 500 indices both falling more than 1%. Large technology stocks fell across the board, with Tesla down nearly 5%, Nvidia down more than 2%, Microsoft, Google-C, Amazon, Apple down more than 1%, META down slightly, and the market value of the "Seven sisters" in the US stock market lost 335 billion dollars (about 2.44 trillion yuan) overnight.
In terms of individual stocks, cybersecurity company INTRUSION triggered 11 circuit breakers during trading, closing up 380% with a turnover rate of over 2200%.
On December 27th local time, the official website of the US Treasury Department announced that Yellen had sent letters to Republican and Democratic leaders in both houses of Congress regarding the debt ceiling issue.
The market value of the seven giants in the US stock market evaporated by over 2 trillion yuan
On December 27th local time, European stock markets generally rose. As of the close, the FTSE 100 index in the UK rose 0.16%, the CAC40 index in France rose 1%, the DAX index in Germany rose 0.68%, the MIB index in Italy rose 1.25%, and the STOXX50 index in Europe rose 0.95%.
The three major indexes of the US stock market opened lower and fell across the board. As of the close, the Dow Jones Industrial Average fell 0.77%, the Nasdaq fell 1.49%, the S&P 500 index fell 1.11%, the Dow Jones Industrial Average fell more than 330 points, and the Nasdaq fell nearly 300 points.
Large tech stocks fell across the board, with the US Tech 7 Index falling 1.79%, META falling 0.59%, Apple falling 1.30%, Amazon falling 1.44%, Google-A falling 1.54%, Microsoft falling 1.72%, Nvidia falling 2.03%, and Tesla falling 4.95%. The one-day market value of the "seven sisters" in the US stock market decreased by 335 billion US dollars (about 2.44 trillion yuan).
Bank stocks fell across the board, with JPMorgan Chase down 0.80%, Goldman Sachs down 0.87%, Citigroup down 0.50%, Morgan Stanley down 0.99%, Bank of America down 0.45%, and Wells Fargo down 0.84%.
Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 1.54%, Jike falling more than 9%, Xiaopeng Motors, NIO, Miniso and others all falling more than 4%, Ctrip Group, JD Group and others falling more than 3%, Baidu Group, Alibaba and others falling more than 1%, Ideal Auto slightly rising, and Kingsoft Cloud rising more than 23%. Everbright Securities believes that as the only strategic cloud platform within the Xiaomi and Kingsoft ecosystems, Kingsoft Cloud's revenue elasticity from the ecosystem is promising, and its profitability is expected to continue to improve. It is expected that the company's operating profit margin will turn positive in 2025.
In addition, INTRUSION triggered 11 circuit breakers, closing up 380% and rising over 400% during trading, with a turnover rate of 2257.42%.
According to the latest data from Mastercard SpendingPulse, retail sales for the 2024 US holiday season increased by nearly 4% year-on-year, mainly due to an increasing number of consumers seeking discounts and offers during November and Black Friday promotions, as well as more spending before Christmas.
Yellen: The Treasury Department will reach a new debt ceiling in mid January
On December 27th local time, the official website of the US Treasury Department announced that Yellen had sent letters to Republican and Democratic leaders in both houses of Congress regarding the debt ceiling issue.
The letter released by the Ministry of Finance shows that Yellen introduced to lawmakers that the bill passed in June last year temporarily suspended the debt ceiling, and the suspension period of the ceiling will end on January 1, 2025. Therefore, starting from January 2, 2025, the debt ceiling will restore its restrictive effect on all statutory outstanding debts at the end of January 1.
Yellen said that it is expected that the outstanding statutory debt subject to the debt ceiling on January 2 will decrease by about $54 billion, mainly due to the redemption of a non tradable security held by a federal trust fund related to Medicare payments under the plan. Therefore, the Ministry of Finance does not need to take special measures from January 2nd to prevent the United States from defaulting on its debt.
Yellen stated that the Treasury Department currently expects to hit a new (debt) ceiling between January 14th and January 23rd, at which point the Treasury Department will need to begin taking unconventional measures.
At the end of the letter, Yellen urged Congress to take action to address the debt ceiling issue and protect the credibility of the United States abroad.
International gold prices have slightly declined
In the commodity market, spot gold fell 0.43% to $2621.348 per ounce; COMEX gold futures fell 0.66% to $2636.5 per ounce.
International oil prices have risen, with ICE Brent crude up 1.15%, NYMEX WTI crude up 0.92%, LME copper and LME tin slightly rising, LME aluminum, LME zinc, LME lead all falling, and LME nickel falling more than 1%.
Analysts say that the reason for the rise in oil prices is that the market's optimism about global economic recovery has increased, especially with positive views on economic data from major economies such as the United States, China, and Europe, which has increased market expectations for future growth in crude oil demand.