On September 12th local time, the three major US stock indexes collectively closed higher, with the Nasdaq up 1%, the S&P 500 index up 0.75%, and the Dow Jones Industrial Average up 0.58%. Among them, the Nasdaq and the S&P 500 index both rose for four consecutive days.
Large tech stocks generally rose, with Google and Meta rising over 2%, Nvidia and Amazon rising over 1%, and Tesla, Apple, Microsoft, and Netflix rising slightly. Warner Bros. explores a rise of over 10%, marking the largest single day increase since the company's US IPO. Fuguo Bank fell more than 4%, hitting a new low since February's closing. Unity Software Inc. rose nearly 10%, marking the largest daily increase since December 1, 2023.
OpenAI CEO Sam Altman and Nvidia CEO Huang Renxun met with senior officials from the Biden administration and other industry leaders at the White House on September 12th to discuss how to meet the massive infrastructure needs of artificial intelligence projects.
According to insiders, attendees in the technology industry also include Anthropic CEO Dario Amodei, Google President Ruth Porat, and Microsoft President Brad Smith. On the government side, officials including Commerce Secretary Gina Raimondo, President's National Security Advisor Jack Sullivan, and Energy Secretary Jennifer Granholm attended. Representatives from the energy industry also attended the meeting. A White House official stated that the discussion revolves around strengthening public-private partnerships in the development of artificial intelligence data centers in the United States. According to informed sources, the topics being discussed include facility permits, labor, electricity demand, and their economic impacts.
Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 0.79%. NIO and Xiaopeng Motors fell over 5%, Futu Holdings fell over 4%, Ideal Auto fell over 3%, and Manbang, Bilibili, and NetEase fell over 1%. Pinduoduo rose by over 2%, while Alibaba, JD.com, Weibo, Baidu, and Vipshop saw slight increases.
Adobe's third quarter revenue was $5.41 billion, with analysts expecting $5.37 billion; Adjusted earnings per share for the third quarter were $4.65, with analysts expecting $4.53; Expected fourth quarter revenue of $5.5 billion to $5.55 billion, with analysts expecting $5.6 billion; Adjusted earnings per share for the fourth quarter are expected to be between $4.63 and $4.68, with analysts expecting $4.68.
Shantanu Narayen, Chairman and CEO of Adobe, stated that the record breaking performance in the third quarter reflects the company's relentless innovation and commitment to providing value to customers. With the breakthrough advancements in AI in Creative Cloud, Document Cloud, and Experience Cloud, the company is providing support to millions of users worldwide.
However, Adobe's guidance for the fourth quarter did not continue to exceed Wall Street's expected growth. Based on the guidance range, Adobe expects fourth quarter revenue to increase by 8.9% to 9.9% year-on-year, while based on analysts' expected revenue, the expected growth rate is about 10.9%. This means that even Adobe's expected highest revenue growth for this fiscal quarter will slow down from the 11% growth in the third quarter, and the degree of slowdown will exceed analysts' expectations.
After the financial report was released, Adobe's US stock market fell more than 9% in after hours trading.
Oracle executives expect to generate at least $66 billion in revenue for the 2026 fiscal year; Expected revenue for fiscal year 2029 is at least $104 billion, with earnings per share expected to increase by 20%.
Oracle's US stock market rose over 5% after trading.
WTI October crude oil futures closed up $1.66, or 2.46%, at $68.97 per barrel. US crude oil maintained its upward trend throughout the day, with the US stock market hitting a daily high of over 3.7% in early trading, pushing up to the $70 mark.
Brent crude oil futures for November closed up $1.36, or 1.92%, at $71.97 per barrel. Brent crude oil maintained its upward trend throughout the day, with the US stock market hitting a daily high of over 3.2% in early trading, pushing up to the $73 mark.
On the news front, the International Energy Agency (IEA) released its monthly report showing that oil demand in the first half of 2024 increased by 800000 barrels per day year-on-year, the lowest level since the pandemic. Even if OPEC+completely cancels its plan to restore daily production of 2.2 million barrels next year, it cannot avoid a situation of oversupply. HSBC stated that any supply measures taken by OPEC+could potentially harm oil prices. If OPEC+cancels production cuts, it could lead to a return to a massive oversupply by 2025, while on the other hand, while maintaining production cuts may initially contribute to price increases, this move could also be seen as an implicit acknowledgement of weak global demand growth.
Spot gold closed up 1.84% at $2558.07 per ounce, breaking historical closing highs. Spot silver rose 4.19% to $29.8792 per ounce. COMEX gold futures rose 1.78% to $2587.6 per ounce, setting a new historical closing high. COMEX silver futures rose 4.48% to $30.225 per ounce.
Gold stocks generally rose, with Kolderun Mining up 5% and Jinrose Gold up about 2%.
Mona Mahajan, Senior Investment Strategist at Edward Jones, said that people usually remain in a wait-and-see state before the Federal Reserve meeting, and the US stock market will continue to fluctuate during the usually weak September. If the market continues to be in the context of the Federal Reserve's interest rate cuts and gradual easing of inflation, and ultimately achieves an economic soft landing, historically, the market should continue to perform well in such situations.