<h3>Market Overview</h3>
<p>Overnight, &#34;AI concept stocks&#34; Salesforce and chip stock Marvell Technology led the tech sector with strong performance, driving U.S. stocks higher on Wednesday, with the Nasdaq leading the gains. The S&amp;P 500, Nasdaq, and Dow Jones all reached new highs, with the S&amp;P hitting its 56th new high of the year, and the Nasdaq achieving new highs for three consecutive days.</p>
<p>The &#34;Tech Seven Sisters&#34; saw widespread gains. Meta closed up 0.02%. Amazon closed up 2.21%. Apple closed up 0.15%, marking its fourth consecutive new high. Nvidia closed up 3.48%, Microsoft closed up 1.44%, Google A closed up 1.77%, and Tesla closed up 1.85%.</p>
<p>Salesforce closed up 10.99%, with Q3 revenue and Q4 guidance exceeding expectations. SoundHound AI, an AI voice company backed by Nvidia, closed up 14.3%. Nvidia's double-leveraged ETF closed up 6.94%. Marvell Technology closed up 23.19%, marking its best single-day performance since May 2023, driven by strong AI demand, with the company's sales increasing by 19% quarter-over-quarter, significantly surpassing expectations.</p>
<p>Among the key stocks releasing earnings reports, discount variety chain Dollar Tree rose 5.5% before closing nearly 2% higher, buoyed by positive Q3 results and the resignation of its CFO. Pet supplies e-commerce company Chewy narrowed its significant decline after dropping 11%, with poor Q3 earnings but an annual revenue guidance that exceeded expectations. Athletic shoe retail giant Foot Locker cut its losses in half after a 20% drop, with earnings falling short of expectations and poor guidance.</p>
<h3>For the First Time in Over 60 Years! The French National Assembly Passes a No-Confidence Motion, Forcing the Government to Resign</h3>
<p>This is the first time since 1962 that the French government has been overthrown due to a no-confidence vote. Prime Minister Barnier has only been in office for three months, making him the shortest-serving prime minister since the establishment of the Fifth Republic of France in 1958. Economists warn that the political deadlock following the government's fall will come at a high economic cost for France, with the lack of a new budget for 2025 leading to an increase in the French deficit, stimulating a rise in bond yields and hindering international investors. Following the announcement of the voting results, the gains in French government bond futures and the euro have narrowed.</p>
<h3>Trump Nominates Cryptocurrency-Friendly Paul Atkins as SEC Chairman, Bitcoin Surges Over $4,000 Intraday, Approaching $100,000</h3>
<p>Atkins is expected to focus on reducing regulation and easing penalties upon taking office. He is currently the CEO of consulting firm Patomak Global Partners. The firm noted that since 2017, Atkins has been dedicated to establishing best practices for digital asset issuance and trading platforms as co-chair of the crypto industry advocacy organization Token Alliance. Trump stated that Atkins recognizes that digital assets and other innovations are crucial for making America greater than ever before.</p>
<h3>Powell: The Economy is Stronger than Expected, the Fed Can Be &#34;More Cautious&#34; in Cutting Rates, and the Trump Administration Cannot Shadow the Fed Chair</h3>
<p>Powell stated that economic growth is stronger than expected at the time of the Fed's first rate cut in September, with no reason not to continue strong. Inflation has risen slightly, and the Fed can be more cautious in cutting rates while searching for a neutral interest rate level; he is not concerned about the risk of losing the Fed's independence and is confident in maintaining a good relationship with the Trump administration
It is too early to assess the impact of Trump's tariffs and other policies on the economic and interest rate outlook.</p>
<h3>Media reports that Apple's collaboration with Baidu to develop a Chinese version of AI features faces obstacles, which may affect iPhone sales</h3>
<p>Media sources indicate that Apple and Baidu have disagreements over how to use iPhone user data to train and improve models. Analysts believe that if the issues cannot be resolved, it may dampen Apple's hopes of boosting iPhone sales in the Chinese market.</p>
<h3>Amazon re:Invent global conference is here, featuring the world's largest AI supercomputer, next-generation AI chips and models, and training Apple AI</h3>
<p>Amazon has launched a new generation of foundational model, Amazon Nova, and announced a partnership with Anthropic to develop the world's largest AI supercomputer. The next-generation, more advanced 3-nanometer training chip, Trainium 3, will be released by the end of next year, with performance four times that of existing chips. Additionally, Apple is conducting preliminary tests on the Trainium 2 chip to assist in training Apple Intelligence.</p>
<h3>How to view China's economic growth rate? Xinhua: Break the &#34;worship of growth rate,&#34; a deviation of one point to the left or right of 5% is acceptable</h3>
<p>An article from Xinhua pointed out that China's economic growth target for this year is around 5%, and we have been striving towards this goal. After efforts, a deviation of one point to the left or right of 5% is acceptable. If we do not break the &#34;worship of speed&#34; and become accustomed to expanding and launching projects, even if we temporarily raise the speed, it will overdraw future growth.</p>
<h3>U.S. November &#34;small non-farm&#34; ADP adds 146,000 jobs, the lowest in four months</h3>
<p>The U.S. ADP for November was expected to be 150,000, with the previous value revised down by 49,000 to 184,000, marking the largest downward revision since May last year. Analysts state that the data shows a robust recovery in the labor market, which is &#34;good news for Federal Reserve officials.&#34;</p>
<h3>U.S. November ISM services index drops from 56 in October to 52.1, far below the expected 55.7, the slowest expansion in three months</h3>
<p>Among them, new orders and employment growth are weak, indicating that the largest component of the U.S. economy is losing momentum. The materials and services price index has slightly increased. Media analysis suggests that the latest services PMI, combined with the manufacturing PMI that has been in contraction for the eighth consecutive month earlier this week, indicates a slowdown in U.S. economic growth in the final stages of 2024</p>

<p>Trump nominates cryptocurrency-friendly Paul Atkins as SEC chairman, Bitcoin surges over $4,000 during trading, approaching the $100,000 mark. Powell's speech states that the economy is stronger than expected, and the Federal Reserve can be "a bit more cautious" in cutting interest rates; the Trump administration cannot shadow the Federal Reserve chairman</p>

- Overnight, "AI concept stocks" like Salesforce and chipmaker Marvell Technology led a rally in tech stocks, boosting U.S. markets to new highs.  
- Salesforce's shares surged 10.99% after exceeding Q3 revenue expectations, while Marvell's stock rose 23.19% due to strong AI demand.  
- In economic news, the U.S. added 146,000 jobs in November, the lowest in four months, indicating a slowing economy as the ISM services index fell to 52.1, below expectations.

Breakfast | Tech stocks propel U.S. stock indices to new highs! French government to step down, Bitcoin surges towards the $100,000 mark