PPI cooling boosts US stocks, Chinese concept index rises strongly by about 3%, US bond yields rise more than 10 basis points intraday.

In October, the US PPI cooled more than expected, with the MoM decline reaching its deepest level in three and a half years. Retail sales also fell less than expected. Traders increased their bearish bets after a rebound in global bond markets, causing US bond yields to rise sharply during the session, leading to a temporary decline in the NASDAQ Composite Index and the S&P 500. However, with expectations of a soft landing, US stocks rose across the board, with the Dow Jones Industrial Average rising for four consecutive days and both the Dow and the NASDAQ Composite Index hitting a three-month high. Microsoft, which released its AI chip, hovered near its historical high, while Nvidia continued its ten-day rally. After market close, Cisco fell by 14%. The China concept stock index reached a five-week high, with JD-SWR rising by 7%, Tencent ADR up more than 5%, and XPENG-W up more than 2%. The US dollar strengthened and stabilized at 104, the pound fell nearly 100 points, the yen fell below 151, offshore RMB hovered around 7.26 yuan, and Bitcoin rose by 5%, reaching its highest level since April last year. Oil prices fell 2% during the session, erasing the gains for the week, while spot gold fell below $1960. However, London metals rose for three consecutive days, with copper reaching a six-week high and zinc rising for two consecutive days by 2%.