<h3>Market Overview</h3>
<p>In the early hours of the overnight U.S. stock market, the &#34;martial law&#34; turmoil in South Korea heightened risk aversion, putting pressure on U.S. stocks, with the Nasdaq dropping as much as 0.3%, the S&amp;P 500 falling over 0.2%, and the Dow Jones Industrial Average dipping more than 207 points at its lowest. After the South Korean president announced the lifting of martial law, the stock market rebounded, with the S&amp;P and Nasdaq closing near their daily highs, and the Dow's losses narrowing.</p>
<p>Following the &#34;martial law&#34; turmoil, the declines in South Korean stocks listed in the U.S. narrowed, with the South Korean ETF (EWY) closing down 1.59%, marking its fifth consecutive day of decline, having previously dropped 7% to a 52-week low during the session. South Korean e-commerce company Coupang's ADR fell 3.74%, and POSCO's ADR dropped over 4%. The Korean won fell 2.9% to a two-year low during the session, later halving its losses.</p>
<p>The martial law in South Korea stimulated demand for safe-haven assets, with gold hitting a daily high. Cryptocurrency on the Korean exchange plummeted, with Bitcoin briefly crashing below $30,000, down over 30%.</p>
<p>The Nasdaq, Apple, and Walmart reached new highs again, while the S&amp;P 500 index set a new closing high for the 55th time this year.</p>
<p>The &#34;Tech Seven Sisters&#34; saw more gains than losses. Meta rose 3.51%. Amazon, which reported Thanksgiving (including Black Friday shopping and Cyber Monday e-commerce) sales figures, increased by 1.3%. Apple gained 1.28%, marking at least three consecutive trading days of closing at historical highs (with a closing market value of $3.67 trillion). NVIDIA rose 1.18%, and Microsoft increased by 0.05%.</p>
<p>Google A fell 0.09%, and Tesla dropped 1.59%. The Shanghai Gigafactory delivered 79,000 electric vehicles in November, and one of Tesla's largest individual shareholders, Liao Kaiyuan, is no longer all in on Tesla stock. Elon Musk's $56 billion compensation plan was again rejected by a judge.</p>
<p>U.S. Steel Corporation closed down 8.01%, having dropped about 10% at one point, as Trump reiterated his opposition to Japan's steel acquisition of U.S. Steel Corporation.</p>
<p>PSQ Holdings surged 270.39%, with reports stating that Trump's eldest son will join the company's board of directors.</p>
<h3>South Korean President Yoon Suk-yeol Announces &#34;Emergency Martial Law&#34; Late at Night, Which Lasts Over Six Hours Before Being Lifted</h3>
<p>According to CCTV News, around 10 PM local time on December 3, South Korean President Yoon Suk-yeol suddenly conducted a televised broadcast announcing the implementation of emergency martial law. Regarding the reasons for martial law, Yoon primarily targeted the opposition party during the broadcast, stating that the opposition was manipulating the National Assembly and disrupting the country, claiming he would purge &#34;anti-state forces&#34; within South Korea.</p>
<p>The sudden announcement of martial law caught both the South Korean political scene and society off guard. Both the ruling and opposition parties expressed that the martial law was unreasonable. The leader of the largest opposition party, Lee Jae-myung, called on supporters to gather in front of the National Assembly to protect it.</p>
<p>Subsequently, the South Korean martial law command announced its establishment, appointing a commander and issuing several martial law decrees, such as prohibiting political gatherings. It also stated that police could make on-site arrests for violations of martial law.</p>
<p>In response to the unexpected martial law, the South Korean National Assembly convened an emergency meeting, with all 190 members voting to demand Yoon Suk-yeol withdraw the martial law decree.</p>
<p>Shortly after, President Yoon Suk-yeol announced via live broadcast from the presidential office in Yongsan, Seoul, that he would accept the National Assembly's request and lift the martial law decree. This came just over six hours after he announced the implementation of martial law at 10:25 PM on the 3rd
Affected by the situation in South Korea, the Korean won and Korean stocks plummeted, and the Korean cryptocurrency market crashed. After the lifting of the state of emergency, the decline in related assets significantly narrowed.</p>
<h3>Intense Clash Between the U.S. and Canada: Trump Reportedly &#34;Confronts&#34; Trudeau</h3>
<p>According to CCTV News, on November 30 local time, U.S. President-elect Trump stated on social media that he had a productive meeting with Canadian Prime Minister Trudeau that day. The two discussed many important issues that require joint efforts from both countries, such as the drug crisis, fair trade agreements, and the huge trade deficit between the U.S. and Canada.</p>
<p>However, the talks were not as &#34;calm&#34; as officially reported. U.S. Fox News revealed more details about the meeting on Tuesday. It reported that Trump jokingly told Trudeau that if Canada could not solve the border immigration issue, &#34;maybe Canada could become the 51st state of the U.S., and Trudeau could be the governor.&#34; This made Trudeau and others &#34;nervously laugh.&#34;</p>
<h3>France Faces a &#34;Critical Moment,&#34; Government on the Brink of Collapse</h3>
<p>According to Bloomberg, French lawmakers will hold a no-confidence vote on Wednesday, which could lead to the resignation of Prime Minister Barnier's government, meaning this government, which was just formed in September, could become the first French government to be forced out by a no-confidence vote since 1962. Barnier would also become the shortest-serving Prime Minister since the establishment of the Fifth Republic in 1958.</p>
<p>According to regulations, after the opposition party proposes a no-confidence motion, the parliament must start debating within 48 hours and within 3 days, meaning the no-confidence vote could take place as early as Wednesday, with results possible by the end of this week, putting the French government in a &#34;countdown to resignation.&#34; There is no precedent in French history for a government being dissolved due to a budget proposal, and the uncertainty in the political landscape has further amplified, leading investors to continue selling French assets.</p>
<h3>Tesla Major Shareholder Liao Kaiyuan Warns: 1929 Stock Market Crash is About to Recur, No Longer Fully Invested in Tesla, Shifting to Short-term U.S. Treasury Bonds</h3>
<p>Tesla major shareholder Liao Kaiyuan recently posted a warning about the U.S. government debt issue, stating that a stock market crash similar to that of 1929 is approaching. He plans to hedge his investment portfolio risks, and due to concerns that Tesla stocks are about to be sold off, he has chosen to sell some Tesla shares and invest in relatively safe short-term Treasury bills to protect his investments.</p>
<p>&#34;I am no longer fully invested in Tesla. I am selling Tesla shares and buying 3-month U.S. Treasury bills. A stock market crash similar to that of 1929 is imminent. The U.S. government debt exceeds $36 trillion, with a budget deficit of $2 trillion and a trade deficit of nearly $1 trillion. I need to hedge the risks in my portfolio.&#34;</p>
<h3>Increasing Spending to Avert Disaster, Apple Willing to Invest $1 Billion in Indonesia to Lift iPhone 16 Sales Ban</h3>
<p>The iPhone 16 has been banned from sale in Indonesia for not meeting local component localization requirements. Last week, the Indonesian Ministry of Industry stated that Apple's proposal to invest $100 million to build a factory did not meet fair principles. The Indonesian Investment Minister stated that Apple's investment in Indonesia must be greater than that in Vietnam.</p>
<h3>Intel CEO Resigns Amidst Internal Conflict: Either Retire or Be Removed</h3>
<p>According to informed sources, Gelsinger discussed Intel's progress in regaining market share and narrowing the gap with Nvidia with the board last week, at which point tensions between the two sides reached a peak. Gelsinger faced the choice of retirement or dismissal, and he ultimately chose to end his career at Intel.</p>
<h3>Traders Frenziedly Buy $55 Million in CSI 300 ETF Bullish Options</h3>
<p>China's manufacturing PMI data improved, boosting market confidence. On Monday, traders spent approximately $55 million to buy bullish options on a double-leveraged ETF tracking the CSI 300. This ETF option typically sees light trading, with daily volumes only in the hundreds to thousands, but trading volume has significantly increased since early October.</p>
<h3>AI Boosts U.S. &#34;Cyber Monday&#34; Sales to Over $13 Billion, Up 7.3% Year-on-Year</h3>
<p>According to a report by Adobe, U.S. consumers spent $13.3 billion online this year on &#34;Cyber Monday,&#34; marking a 7.3% increase compared to Cyber Monday 2023, surpassing the $10.8 billion in online spending on &#34;Black Friday.&#34; The Director of Consumer Research at Salesforce stated that generative AI tools can answer basic product inquiries from online shoppers, helping retailers protect their profit margins amid rising costs.</p>
<h3>Will There Be a Rate Cut in December? Fed Officials &#34;Play Tai Chi&#34;: Regardless of Cuts, Rates Should Continue to Decline</h3>
<p>This year's voting members, including San Francisco Fed President Daly and other Fed officials who spoke on Monday, expect further rate cuts in the future but did not commit to action this month, stating that inflation continues to trend down towards the 2% target. Even with another rate cut, monetary policy will remain restrictive. Fed Governor Cook stated that decisions will be made on a meeting-by-meeting basis, monitoring risks that may hinder inflation decline</p>

TSLA

<p>South Korean President Yoon Suk-yeol announced a "state of emergency" late at night, leading to a sharp decline in the Korean won and Korean stocks, while the Korean cryptocurrency market plummeted, with Bitcoin briefly crashing over $30,000, down more than 30%. The state of emergency was lifted after more than six hours. Global political turmoil continues: Trump was reported to have "confronted" Trudeau, and the French government has entered a "countdown to resignation."</p>

- U.S. markets faced pressure due to rising risk aversion following South Korea's emergency martial law, with the Nasdaq and S&P 500 initially declining before recovering after the law was lifted.  
- The South Korean won hit a two-year low, and local stocks, including ETFs and major companies, experienced significant drops before rebounding post-martial law.  
- In the U.S., tech stocks reached new highs, with Apple and Amazon reporting strong sales, while concerns about a potential market crash reminiscent of 1929 were raised by a major Tesla shareholder.

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Tesla

Breakfast | South Korea faces "martial law" turmoil, South Korean stocks open as usual today! Tesla major shareholder Liao Kaiyuan "no longer all in on Tesla"