The three major indexes of the US stock market collectively closed down, with the Dow Jones Industrial Average falling 0.96%, the Nasdaq falling 1.60%, and the S&P 500 index falling 0.92%. Chip stocks generally fell, with ARM falling nearly 7%, Qualcomm and Broadcom falling over 3%, and Nvidia and Micron Technology falling nearly 3%. Large tech stocks fell across the board, with Meta falling over 3%, Apple and Amazon falling over 2%, and Tesla and Google falling over 1%. McDonald's fell more than 5% as serious E. coli infections occurred in multiple McDonald's locations in the United States. Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling more than 1%.
Global News
Xiaomo vs Goldman Sachs! The two giants on Wall Street have completely different opinions: where will the US stock market go in the future?
Strategists from the two largest investment banks on Wall Street have come to vastly different conclusions regarding the future trend of the US stock market in the coming years. As the S&P 500 index hovers near historical highs, Goldman Sachs recently warned that the era of the index's decade long surge is over, and the annualized nominal total return over the next decade will only be slightly above 3%, far below the 13% of the previous decade. But Xiao Mo believes that the US stock market will remain strong in the next decade.
The US Department of Commerce plans to partially revoke anti-dumping and countervailing duties on Chinese photovoltaic cells
According to the official website of the US federal government, the US Department of Commerce has initiated a Change Review (CCR) starting from October 21st, considering the partial revocation of anti-dumping and countervailing duties (AD/CVD) on Chinese crystalline silicon photovoltaic cells, and inviting relevant parties to express their opinions. The products involved are certain small, low wattage, off grid crystalline silicon photovoltaic (CSPV) cells.
EVTOL in the United States is expected to achieve commercialization! FAA issues final safety regulations
On Tuesday, the FAA released 880 pages of final safety regulations for the "air taxi" industry, including qualifications and training requirements for pilots of these new aircraft, as well as operational requirements for such aircraft, including minimum safe altitude and required visibility. Importantly, this regulation also paves the way for companies such as Joby Aviation and Archer Acication to begin commercial operations.
Breaking out of the 'rate hike market' under interest rate cuts: Is the US Treasury repeating the 1995 sell-off?
Did Federal Reserve Chairman Powell anticipate that in the month following his announcement of interest rate cuts in September, the US Treasury would emerge from the "rate hike trend" with a sharp decline - yes, the Fed did cut interest rates by 50 basis points last month, but the 10-year Treasury yield, known as the "anchor of global asset pricing," has actually risen by more than 50 basis points in the past month
G7 aid to Ukraine loan agreement to be finalized Yellen: US plans to invest $20 billion
On Tuesday (October 22) Eastern Time, US Treasury Secretary Yellen announced that the US plans to contribute $20 billion in the G7's $50 billion loan program to assist Ukraine, and is almost ready. After the overall escalation of the Russia-Ukraine conflict, the West froze about 280 billion dollars of overseas assets of the Russian Central Bank, most of which were deposited in Europe. It is estimated that Russian assets in Europe can generate approximately $3 billion to $5 billion in annual returns.
Company News
Huang Renxun: AI brings new industrial revolution, Nvidia is building 'AI brain'
NVIDIA CEO Jensen Huang recently stated that we are witnessing the dawn of a new industrial revolution, but the driving force behind this revolution is not steam or electricity, but artificial intelligence (AI). Huang Renxun told thousands of enterprise technology leaders at the Gartner IT Symposium in Orlando, USA that their companies must transform into AI driven organizations to prepare for this' new industrial revolution '.
Cook responds to when Apple Intelligence will enter China: We are working hard to promote it
On October 23rd, during a visit to Weibo, Apple CEO Tim Cook was asked by Interface News reporters when Apple Intelligence would enter China. He responded, "We are working hard to promote it, and there is a very specific regulatory process behind it. We need to go through this process and hope to bring it to Chinese consumers as soon as possible
Arm has issued an ultimatum! Will Qualcomm's chip technology license be revoked? Will the mobile phone and PC market undergo drastic changes?
After two years of unsuccessful litigation, Arm finally couldn't bear it anymore and issued an ultimatum. Bloomberg's latest report states that Arm has issued a mandatory notice to Qualcomm to cancel its Chip Technology License Agreement (TLA), which has set an eight week deadline for the latter to resolve the dispute. It is reported that the technology license agreement originally allowed Qualcomm to directly purchase Arm's IP cores to design chips.
McDonald's is on the run! 49 people have been infected, 1 person has died, and emergency delisting and removal of raw materials have been carried out
According to securities firm China, on Tuesday local time, the US Department of Public Health stated that the E. coli outbreak that caused at least one death is related to McDonald's "quarter pound" burger. The Centers for Disease Control and Prevention in the United States stated that the outbreak related to Hamburg has spread to 10 states, with a total of 49 people infected, including 10 hospitalized.
Starbucks' Same Store Sales Decline for Three Consecutive Quarters: Suspend Announcement of Performance Guidelines, New Leader Calls for 'Fixing Pricing'
On October 22, local time, Starbucks (Nasdaq: SBUX) announced its preliminary results for the fourth quarter and full year of the 2024 fiscal year ending September 29, 2024. Net revenue for the fourth quarter decreased by 3% to $9.1 billion, global same store sales decreased by 7%, and GAAP earnings per share were $0.8, a year-on-year decrease of 25%.