According to Zhitong Finance, on Wednesday, all three major stock indices hit new highs, with the Dow Jones Industrial Average closing above 45,000 points for the first time. Federal Reserve Chairman Jerome Powell stated that the U.S. economy is performing stronger than it did when the Fed began cutting interest rates in September last year, which may lead policymakers to be more cautious about further rate cuts.
【U.S. Stocks】 At the close, the Dow rose 308.51 points, an increase of 0.69%, closing at 45,014.04 points; the Nasdaq rose 254.21 points, an increase of 1.30%, closing at 19,735.12 points; the S&amp;P 500 index rose 36.61 points, an increase of 0.61%, closing at 6,086.49 points. Nvidia (NVDA.US) closed up 3.48%, Amazon (AMZN.US) rose 2.21%, Tesla (TSLA.US), Google A (GOOGL.US, GOOG.US), and Microsoft (MSFT.US) rose between 1.85% and 1.44%, Apple (AAPL.US) rose 0.15%, and Meta Platforms (META.US) rose 0.02%.
【European Stocks】 The German DAX 30 index rose 220.11 points, an increase of 1.10%, closing at 20,255.25 points; the UK FTSE 100 index fell 22.27 points, a decrease of 0.27%, closing at 8,337.14 points; the French CAC 40 index rose 47.86 points, an increase of 0.66%, closing at 7,303.28 points; the Euro Stoxx 50 index rose 40.64 points, an increase of 0.83%, closing at 4,919.15 points; the Spanish IBEX 35 index rose 62.40 points, an increase of 0.53%, closing at 11,936.00 points; the Italian FTSE MIB index rose 251.66 points, an increase of 0.74%, closing at 34,081.00 points.
【Asia-Pacific Stock Markets】 The Nikkei 225 index rose 0.07%, the Jakarta Composite Index in Indonesia rose 1.82%, and the KOSPI index in South Korea rose 1.44%.
【Cryptocurrency】 Bitcoin rose 1.99%, trading at $97,906.24 per coin, briefly surpassing $99,000; Ethereum rose over 6.4%, trading at $3,851.57 per coin.
【Gold】 Spot gold rose 0.24%, trading at $2,649.78 per ounce; COMEX gold futures rose 0.22%, trading at $2,673.90 per ounce.
【Crude Oil】 Brent crude oil futures fell $1.31 or 1.78% on Wednesday, settling at $72.31 per barrel. U.S. crude oil futures (WTI) fell $1.40, a decrease of 2%, settling at $68.54.
【Metals】 LME copper futures closed up $119, trading at $9,112 per ton. LME aluminum futures closed up $20, trading at $2,610 per ton. LME zinc futures closed up $19, trading at $3,096 per ton. LME lead futures closed up $4, trading at $2,080 per ton. LME nickel futures closed up $322, trading at $16,015 per ton. LME tin futures closed up $251, trading at $28,824 per ton. LME cobalt futures remained flat, trading at $24,300 per ton
[Macroeconomic News]
U.S. November service sector growth hits three-month low as employment and orders decline. With demand and employment growth slowing, the expansion rate of the U.S. service sector in November reached its lowest level in three months, indicating that the largest pillar of the economy is losing momentum. The Institute for Supply Management (ISM) reported on Wednesday that the service sector index fell 3.9 points to 52.1, marking the first decline since June. Although the reading above 50 indicates industry activity is expanding, the latest data fell short of economists' expectations in a Bloomberg survey. The new orders index dropped 3.7 points to a three-month low of 53.7. The business activity index fell to its lowest level since August.
ADP data shows U.S. businesses added 146,000 jobs in November. The employment situation in U.S. businesses remained robust in November, further proving that the labor market, while slowing, still shows resilience. Data released by the ADP Research Institute on Wednesday indicated that private sector employment increased by 146,000 last month, with October's job additions revised down to 184,000. The median forecast from economists surveyed was an increase of 150,000. The report showed that job growth varied across industries. Education, healthcare, and construction led the growth, while manufacturing saw the largest decline in over a year. Recruitment in leisure and financial services was also not optimistic. These data further demonstrate that labor demand remains despite ongoing price pressures and rising borrowing costs. This is good news for Federal Reserve officials, who no longer view the labor market as a source of inflation but instead focus on protecting job opportunities.
Federal Reserve Beige Book: Economic activity in most U.S. regions has slightly increased recently. In its final regional economic review of the year, the Federal Reserve stated that economic activity has slightly increased in most regions of the U.S. in recent weeks. The Federal Reserve Beige Book survey indicated that during the reporting period from October to mid-November, there was a slight improvement in the economy, and growth expectations improved in most regions and industries. In the labor market, employment levels were flat or slightly higher in most regions, with few companies increasing their workforce, but employee turnover remained low. Wage growth in most regions has slowed to more moderate levels. The report also raised some clearer warnings. Many consumer-facing businesses reported that consumers have become more sensitive to prices. The weakness in the housing market is reflected in decreased spending on home goods and weak mortgage demand. On the other hand, the Federal Reserve noted that data center construction in the tech industry has driven strong demand for electricity, and tourism has also seen robust growth in some regions. Overall, as the central bank continues to control inflation, prices are rising moderately in most regions. Some areas reported declines in the costs of raw materials and other non-labor inputs.
Powell: Does not believe the &#34;shadow Fed chair&#34; needs to be discussed. Bessenet, nominated by Trump as Treasury Secretary, proposed in Barron's that Trump should publicly appoint a successor to Fed Chair Powell upon taking office, effectively creating a &#34;shadow Fed chair,&#34; to which Powell expressed opposition. Powell stated on Wednesday, &#34;I don't think that's even on the table for discussion.&#34; &#34;There is a series of institutional relationships between the Federal Reserve and each administration.&#34;
&#34;I fully believe we can maintain the same relationship.&#34; Powell's term will end in early 2026.
Trump chooses Paul Atkins as SEC chairman, cryptocurrency rises briefly. U.S. Republican President-elect Donald Trump announced on Wednesday that he will nominate Paul Atkins as chairman of the U.S. Securities and Exchange Commission (SEC). Following the announcement, cryptocurrency prices rose briefly. Current SEC Chairman Gary Gensler is a hardliner, and his ambitious agenda has led to conflicts with Wall Street and the cryptocurrency industry. Atkins believes that robust and innovative capital markets can meet investor needs and provide funding to keep the U.S. economy leading. He also recognizes that digital assets and other innovations are crucial for maintaining U.S. leadership. Atkins is expected to review several rules and court enforcement actions under Gensler's tenure, adopt a more lenient approach to cryptocurrency, and seek rule changes aimed at promoting capital formation.
French National Assembly votes to pass a motion of no confidence against the government, Prime Minister to resign. On December 4th local time, the French National Assembly voted to pass a motion of no confidence against the current government. The French government faces another reshuffle. According to the French Constitution, Prime Minister Élisabeth Borne will submit her resignation to the President on behalf of the government. On December 2nd, Borne bypassed the National Assembly to force through a social security bill, triggering strong dissatisfaction from far-right and left-wing parties. Both the far-right National Rally and the left-wing coalition &#34;New People's Front&#34; submitted motions of no confidence against Borne's government. The French National Assembly held a debate before voting on the motion of no confidence against the government on the afternoon of the 4th.
【Individual Stock News】
UnitedHealth Group (UNH.US) CEO shot dead in New York. Foreign media reported, citing police sources, that a shooting incident occurred in New York on the morning of December 4th. Brian Thompson, the CEO of UnitedHealthcare, a subsidiary of UnitedHealth Group, was shot dead outside the Hilton Hotel in Midtown Manhattan. Thompson was shot in the chest and was rushed to the hospital, but died after unsuccessful resuscitation efforts. It is reported that UnitedHealthcare was holding an Investor Day event that day. According to U.S. media, Thompson was scheduled to attend the annual investor conference held by UnitedHealth Group at the hotel that morning. A masked gunman waited outside the hotel and fired multiple shots at Thompson upon his arrival, then fled the scene. New York City Mayor Adams stated that preliminary police investigations suggest this was a targeted attack.
Delta Electronics (TSM.US) plans to invest €42.26 million to build EMEA headquarters in the Netherlands. On December 4th, Delta Electronics announced that its subsidiary Delta International Holding (DIH) signed a construction contract with Park 2020 Campus to invest in the construction of an EMEA headquarters office building, with an estimated total project cost of approximately €35.77 million. Delta Electronics pointed out that the DIH board also resolved to acquire land located in Hoofddorp, Netherlands, for €6.49 million for the construction of the EMEA headquarters office. Including land acquisition and construction costs, Delta Electronics expects to invest €42.26 million to build the EMEA headquarters office building
Delta Electronics stated that this is necessary to respond to future business development needs

.SPX

On Wednesday, the three major U.S. stock indices reached new highs, with the Dow Jones Industrial Average closing above 45,000 points for the first time, up 308.51 points, an increase of 0.69%, closing at 45,014.04 points; the Nasdaq rose 254.21 points, an increase of 1.30%, closing at 19,735.12 points; the S&P 500 rose 36.61 points, an increase of 0.61%, closing at 6,086.49 points. Federal Reserve Chairman Jerome Powell stated that the U.S. economy is performing strongly, and policymakers may consider further interest rate cuts more cautiously

- On Wednesday, all three major U.S. stock indices reached new highs, with the Dow Jones closing above 45,000 for the first time.  
- Federal Reserve Chair Jerome Powell indicated that the U.S. economy is performing stronger than last September, suggesting a cautious approach to further rate cuts.  
- Key market movements included the Dow rising by 308.51 points, while cryptocurrencies like Bitcoin and Ethereum also saw gains, reflecting a mixed but generally positive economic outlook.

Overnight U.S. Stocks | All three major indices hit new highs, with the Dow Jones Industrial Average closing above 45,000 for the first time