U.S. stocks closed: "Cyber Monday" U.S. stocks fell Nvidia stopped falling for three days E-commerce retail stocks rose

Markets await the release of Wednesday's preliminary reading of U.S. GDP for Q3, Thursday's U.S. PCE inflation for October and Eurozone CPI data, as well as Fed Chair Jerome Powell's speech on Friday and the Fed's "Beige Book" on economic conditions in order to speculate on the path of interest rates.

Futures traders are betting that the Fed has completed its rate hike and will not raise rates in December, with a probability of a rate cut as early as March next year of about 23% and a probability of at least 25 basis points of rate cut in May next year as high as 50%. Goldman Sachs said when the Fed will cut interest rates for the first time, and the employment data will be crucial.

However, the latest survey of economists by the media shows that it is difficult for core inflation to cool down in the United States, and interest rates are expected to remain high for a long time. ECB President Christine Lagarde also said that she cannot be complacent about the inflation situation in the eurozone and cannot declare a victory in the fight against inflation now.

She also mentioned that the ECB may soon discuss whether to end the reinvestment of the due principal of the 1.7 trillion euro anti-epidemic emergency bond purchase program ahead of schedule. Money markets are pricing in a 90 basis point rate cut by the ECB next year, with the first rate cut in April being the most probable, albeit cooler than last week's bets.

New home sales in the United States fell to 679,000 in October, down 5.6% month-on-month, but up nearly 18% from a year earlier, and the previous value was revised sharply downward, all showing the backlog of high interest rates on home buying activity. After the data was released, U.S. Treasury yields refreshed their daily lows.

U.S. online sales on Black Friday rose 7.5% year-over-year to a record $9.8 billion, Adobe Analytics raised its forecast for Cyber Monday to $12 billion to $12.4 billion, and sales over $10 billion over the Thanksgiving weekend.

U.S. stocks fell, the Dow Indicator fell from the highest in nearly four months, Nvidia stopped falling for three consecutive days, and e-commerce retail stocks rose

On Monday, November 27, the "Cyber Monday" electronics promotion day after the Thanksgiving holiday in the United States, and the first day of the last trading week in November, the three major U.S. stock indexes collectively opened slightly lower, and all rose for four consecutive weeks at the end of last week.

At midday, the Nasdaq and Nasdaq 100, which are dominated by technology stocks, turned higher, and the S&P broader market also briefly turned higher. Retail stocks such as Mercadolibre, Amazon, and Dollar Tree were among the top gainers, led by consumer discretionary and technology sectors that rose more than 0.6%. The Nasdaq turned lower at the end of the session.

As of the close, the Dow and S&P both stopped a two-day winning streak, falling below their nearly four-month highs since August 7 and August 1, respectively, and the Nasdaq fell for two consecutive days, but not far from the high since July 31 set last week, Russell small-cap stocks stopped a two-day winning streak and fell off a two-month high since September 20:

The S&P 500 closed down 8.91 points, or 0.20%, at 4,550.43. The Dow closed down 56.68 points, or 0.16%, at 35,333.47. The Nasdaq closed down 9.83 points, or 0.07%, at 14,241.02. The "fear index" VIX is still up less than 13, hitting its lowest level since January 17, 2020 on Friday.

The Russell 2000 small-cap index fell 0.4%, the Nasdaq 100 fell 0.1%, and the Nasdaq Technology Market Cap-Weighted Index (NDXTMC), which measures the performance of technology companies in the Nasdaq 100, fell 0.1%, falling for two consecutive days to the lowest in a week, continuing to retreat from the all-time high set last week.

U.S. stocks fell, the Dow fell from the highest in nearly four months, and the Nasdaq turned lower at the end of the session

Star tech stocks were mixed. "Metaverse" Meta fell 1%, and Google A hit a one-week low, Apple fell slightly, not far from a three-and-a-half-month high, Amazon rose 0.7% to the highest in 19 and a half months, Microsoft rose 0.3% to the highest closing in history, Netflix nearly erased the 0.9% intraday decline, hovering at the highest in 22 months, Tesla fell 1.4% and then turned up 0.3%, rising from a one-week low for two consecutive days.

Chip stocks retreated at the end of the session, with the Philadelphia Semiconductor Index falling 0.2%, Intel's gains narrowing to 0.3%, approaching a 19-month high set last week, AMD's gains narrowing to a five-and-a-half-month high, and Nvidia's 1%, halting a three-day losing streak and breaking off a two-week low.

Most AI concept stocks rose, C3.ai rose 0.4%, SoundHound rose more than 3% .ai, both to a one-week high, and BigBear.ai rose 1.6% to a one-and-a-half-week high, but Palantir Technologies fell 0.6%, falling for four consecutive days to further break away from a two-year high.

On the news, Tesla sued the Swedish government, the strike wave spread to the country's postal department, the union blocked the delivery of Tesla license plates, and the Cybertruck products were scheduled to be delivered on December 1. Microsoft turned up after falling 0.3%, and the impact of OpenAI's personnel changes is gradually fading.

The popular Chinese concept index chased down the U.S. stock market. ETF KWEB fell 1.9%, CQQQ fell 0.4%, and the Nasdaq Golden Dragon China Index (HXC) fell 1.6%, halting a two-day winning streak and essentially erasing gains since last Wednesday.

Among the Nasdaq 100 constituents, JD.com fell 1.5%, Baidu rose 0.5%, and Pinduoduo fell 0.8%. Among other stocks, Alibaba fell more than 1%, Tencent ADR fell 0.8%, and Station B fell more than 3%. NIO fell nearly 3%, Xpeng fell more than 4%, and Li Auto fell 3.8%.

Kandair's U.S. stock rose more than 14% in premarket trading, closing up 2.5%, and plans to buy back up to $30 million in shares. Douyu, which was caught in the turmoil because CEO Chen Shaojie was arrested on suspicion of opening a casino, set up a temporary management committee, responding to the fact that some app store apps could not be downloaded, saying that they had not received a notice of removal and were investigating the reason, and the stock price fell 8.6%.

The bank stock index stopped rising for two consecutive days to a two-week low. The Philadelphia Stock Exchange's KBW Bank Index (BKX), the industry benchmark, fell 0.6% after hitting its lowest level in three years since September 2020 at the end of October. The KBW Nasdaq Regional Bank Index (KRX) fell 0.5%, hitting its lowest level since November 2020 on May 11. Some institutions have warned that some regional banks with poor returns and earnings are most at risk of being bought by competitors.

The bank stock index stopped rising for two consecutive days to a two-week low

Other stocks that have moved more include:

At present, the "Black Friday" and "Online One" shopping days, U.S. e-commerce and retail stocks rose together. Walmart rose 0.5% to get out of a four-month low, eBay closed down 0.3% after falling 1.8%, and "3C" consumer electronics giant Best Buy closed down 0.2% after falling 2%, all not far from a one-month high, and Etsy, a handicraft e-commerce platform, rose 3% to the highest in nearly three months. "Buy now, pay later" leader Affirm once rose nearly 16% to the highest in 15 months, Canadian e-commerce Shopify rose nearly 5% to the highest in 20 months, and rose 57% in November to set the best monthly increase in history.

Albemarle, the largest supplier of lithium batteries for electric vehicles in the United States, fell more than 8% from its monthly high to a two-week low and fell about 44% this year, dragged down by U.S. consumers' reluctance to buy electric vehicles and rising inventories. The Global X Lithium & Battery Tech Sector ETF (LIT) fell more than 2% and hit a two-week low.

The European Union warned that Amazon's acquisition of iRobot, the world's leading consumer robotics company, would hurt competition, with the latter falling more than 20% and triggering intraday trading suspensions due to excessive volatility several times, and finally closed down more than 17% off a four-month high.

The U.S. obesity ETF (HRTS) extended its decline to 0.7%, and among the weight loss drug manufacturers, Amgen fell 1.4% at one point, Biogen fell 2%, Eli Lilly fell 1.5%, and Novo Nordisk ADR fell 1.5% and fell from the record high. Previously, it was reported that in order to lower the threshold for use, Novo Nordisk considered flexible pricing for the "miracle drug for weight loss".

European stocks fell. The pan-European Stoxx 600 index closed down 0.34%, halting a three-day winning streak and off a two-month high since Sept. 20, while travel stocks fell 0.8% and oil and gas stocks erased earlier losses to trade flat. The Eurozone Stoxx 50 index closed down 0.4%, also halting a three-day winning streak and breaking off a three-and-a-half-month high, with constituents BASF and Bayer falling more than 3%. However, European stocks will have their best monthly performance since January.

U.S. Treasury yields rose and retreated, with the 10-year base bond yield falling 8 basis points to regain its two-month low

The U.S. Treasury auction bid rate of 4.887% for the two-year Treasury auction, which was weaker than the previous auction in October, and the two-year Treasury yield extended its intraday decline to nearly 7 basis points and fell below 4.90%, basically erasing the gains since last Wednesday. The yield on the 10-year base bond fell more than 9 basis points to 4.38%, hovering at a two-month low since late September.

U.S. Treasury yields retreated higher, and the 10-year yield hovered at a two-month low again

European bond yields also fell. The 10-year German bond yield, the benchmark for the eurozone, fell more than 9 basis points in late trading to a new daily low of 2.547%, off a 10-day high of 2.663% on Friday, and the two-year yield fell more than 7 basis points and fell below 3%. The yield on the 10-year Italian bond benchmark for the more indebted peripheral countries fell 11 basis points, while the yields on the French and Spanish base bonds fell more than 9 basis points.

The decline in European bond yields was mainly due to ECB President Christine Lagarde's announcement that she was about to discuss the reinvestment of the PEPP emergency bond purchase program. Treasury yields also fell by more than 7 basis points, and Bank of England Governor Bailey said that the "second half" of the fight against inflation was a difficult task and that a rate cut was unlikely in the foreseeable future, but the encouraging inflation data still made money markets increase bets on their interest rate cut prospects.

Oil prices narrowed their losses after falling nearly 2% intraday, with Brent oil closing below $80 and natural gas falling in Europe and the United States

Markets await the OPEC+ oil production meeting on Thursday, and international oil prices narrowed their intraday losses on news that Saudi Arabia is seeking to cut output quotas for other OPEC+ oil producers, and traders widely expect Saudi Arabia and Russia to extend voluntary production cuts until early 2024.

WTI crude oil futures for January delivery closed down $0.68, or 0.90%, at $74.86 a barrel. Brent crude oil futures for January delivery, which are about to expire, closed down $0.60, or 0.74%, at $79.98 a barrel, falling below the $80 psychological integer level.

U.S. oil WTI fell as deep as $1.47 or 1.9%, hitting a daily low of $74 before returning to the $75 line. Brent oil trading more active February futures fell as deep as $1.39, or 1.7%, to a daily low of $79, and then returned to the $80 integer psychological mark, both of which hit their lowest intraday since last Wednesday.

Oil prices narrowed their losses after falling nearly 2% intraday, with Brent oil closing below $80

TTF Dutch natural gas futures, the European benchmark, fell more than 4%, nearly erasing gains since Wednesday. ICE UK futures fell 6% as the EU carbon tax hit a more than one-year low and fell towards the €70 mark. U.S. natural gas fell more than 4% at one point, pushing it back to its lowest level since early October, as forecasts for warmer weather weakened heating demand expectations.

The U.S. dollar hovered at a three-month low, the offshore yuan fell below 7.16 yuan, and bitcoin fell below $37,000

The DXY, a basket of six major currencies, fell 0.2% to 103.20, hovering at its lowest level in nearly three months since Aug. 31 and falling more than 3% in November, setting for its worst monthly performance in a year since November, when it fell 5%.

The U.S. dollar is hovering at a three-month low

EUR/USD rose slightly and held above 1.09, returning to a three-and-a-half-month high, and the pound also held above 1.26, hitting its highest in nearly three months, rising about 3.8% in November, and will post its biggest monthly gain in a year.

The Japanese yen rose 0.6% against the dollar and rose above 149, close to recovering losses since last Wednesday. The Australian dollar hit its highest in more than three months, and BofA expects the dollar to weaken next year and the Australian dollar to rebound. The offshore yuan fell to 7.16 yuan, down 170 points from the previous day's close, temporarily away from a four-month high.

Mainstream cryptocurrencies generally fell. Bitcoin, the largest leader by market capitalization, fell more than 1% and lost $37,000, the highest since April last year. Ethereum, the second-largest Ethereum, fell more than 3% and fell below $1,990, having risen above $2,100 to a seven-month high at the beginning of the month.

Bitcoin fell below $37,000

Gold rose above $2010 to a six-month high, London copper fell more than 0.7%, tin fell nearly 3.8%, and nickel hit a three-year low intraday

The U.S. dollar and U.S. Treasury yields traded lower hand in hand, which was positive for gold prices. COMEX gold futures for December delivery closed up 0.47% at $2,012.40 an ounce. COMEX silver futures for December delivery closed up 1.40% at $24.681 an ounce.

Spot gold rose as much as 0.8%, not only continuing to stand above the $2,000 psychological integer mark, but also rising above the $2,010 integer level, the highest in six months since mid-May, thanks to market bets that the Federal Reserve has ended raising interest rates.

Previously, UBS pointed out that considering that the Federal Reserve will cut interest rates at some point, the fall in gold prices in the short term may be a good buying opportunity, predicting that gold prices will rise to a record high of $2,150 by the end of 2024.

Gold rose above $2010 to a six-month high

The demand outlook was under pressure, sending industrial base metals in London weak. The economic bellwether "Dr. Copper" fell 0.8%, re-falling below $8,400, after hitting $8,486 last week, hitting a more than two-month high. According to some analysts, copper prices have risen 7% since October 23, triggering profit-taking.

London aluminum fell slightly to a one-week low. Zinc fell 0.5%, erasing nearly half of the gains since last Wednesday and off a one-week high. Lead fell 1.5% to a three-week low, moving further away from its highest since May last year. London nickel fell below $16,000 intraday to a three-year low, weighed by oversupply and increased short positions in global markets. Lunxi fell $900, or 3.8%, to a $23,000 low in more than eight months.