**: Global Market Broadcast.
In the early morning of the 9th, Beijing time, U.S. stocks rose at the end of Friday, and the S&P 500 index was close to the highest level of the year. The November Nonfarm Payrolls Report and the University of Michigan Consumer Survey data showed a resilient economy and cooling consumer inflation expectations, raising hopes for a so-called soft landing scenario.
The Dow rose 14367 points, an increase of 040% at 3626105 o'clock;The Nasdaq rose 7445 points, an increase of 052% at 1441444 points;The S&P 500 rose 2068 points, an increase of 045% at 460627 o'clock.
U.S. Treasury yields moved higher. At the end of Friday, the 10-year Treasury yield was **114 basis points to 4243%。30-year Treasury yield**77 basis points, rising to 4323%。
U.S. stocks have been weak this week. As of Thursday, the Dow has reached 04%, S&P 500**02%。Nasdaq has a 02%, but it is still possible to record a decline this week.
On Friday, U.S. investors ushered in the November non-farm payrolls report. Contrary to expectations of a slowdown, the report showed broad strength in the U.S. labor market.
The U.S. Department of Labor reported that U.S. nonfarm payrolls increased by 19 percent in November90,000 people, 180,000 expected, 150,000 previously. The unemployment rate fell to 3 in November7% and expected 390%, the previous value was 390%。
The report showed that the percentage of employed people in the United States increased by 03 percentage points to 605%。The labor force participation rate was largely flat at 628%, largely unchanged since August.
By sector, the number of people employed in the ** sector increased by 4 in November90,000, an average monthly increase of 550,000 people.
Employment in the manufacturing sector also increased, reflecting the return of workers from strikes;Employment in the retail sector has declined.
770,000, an average monthly increase of 540,000 people.
Employment in leisure and hospitality increased by 40,000 people, almost entirely in catering and beverage establishments.
Employment in the social assistance sector increased by 1 percent in November60,000 people.
Analysts said that U.S. employers added more jobs than expected, leading to an unexpected drop in the unemployment rate in November, which increased the likelihood that the Federal Reserve will maintain a high interest rate stance for longer.
The return of auto workers, who had previously gone on strike, helped add 30,000 people. The unemployment rate fell to 37%, with a slight increase in the labor force participation rate. Monthly wage growth exceeded expectations.
The acceleration in employment growth contrasts with the slowdown in hiring that recent reports suggest, which is an outcome favored by the Fed as it will help dampen demand and price pressures. This unexpected strength supports policymakers' desire to keep borrowing costs high to ensure inflation returns to target, and a sustained pickup in inflation could prompt them to lean toward another rate hike.
Following the release of the November non-farm payrolls report, swap contracts showed that the market lowered its expectations for the Fed's interest rate cut in 2024.
According to CME Group's Fed Watch latest**, the Fed kept interest rates at 5 in December25%-5.The probability that the 50% interval will not change is 982%, with a probability of a 25 basis point rate hike of 18%。The probability of keeping interest rates unchanged by February next year is 922%, and the probability of a cumulative rate cut of 25 basis points is 61%, the probability of a cumulative rate hike of 25 basis points is 17%。
Analyst Katia Dmitrieva said the labor force participation rate and average weekly hours have also risen, which is often a sign of stronger demand. Average hourly earnings rose month-on-month. This is only the fourth time in the last 11 months**.
Another data release on Friday showed that consumer concerns about inflation eased significantly in December due to the continued impact of energy*** and a high-interest rate policy environment.
According to the latest consumer sentiment survey released by the University of Michigan on Friday, U.S. consumers' expectations for the outlook for inflation in the coming year slipped to 31% up from 45% fell sharply and was the lowest since March 2021. The five-year inflation outlook has also been revised downwards from 3 in the previous month2% to 28%。
The Fed** believes that consumer expectations are key to influencing the trajectory of inflation, so a shift in market sentiment may further convince policymakers to keep interest rates unchanged and possibly start cutting rates in 2024. The University of Michigan's survey is one of the most watched metrics.
Inflationary sentiment, in turn, is closely related to the direction of energy costs and oil prices. According to the American Automobile Association (AAA), a gallon of unleaded gasoline has dropped by 22 cents over the past month, down to 3$18.
Investors have been keeping a close eye on labor market data this week. Friday's non-farm payrolls data follows Thursday's initial jobless claims of 220,000 while continuing jobless claims stood at 18610,000 people. The U.S. ADP private payrolls rose less than economists expected for November, and Tuesday's report showed that the number of U.S. job openings fell to the lowest level since 2021 in October.
Stephanie Lang, chief investment officer at Homrich Berg, said: "The market will take a hard look at each data point to see if the economy can continue to maintain this unbiased and appropriate scenario where the labor market cools enough to reduce wage pressures, but not in a recession that weighs on the market." ”
Focus**. Musk posted on social media on Friday that the beta version of Grok AI is now available to all X Premium+ subscribers in the United States. In addition, Tesla's sales in China in November rose 5% year-on-year as customers rushed to place orders before the price increase.
Nvidia is reportedly in advanced talks with Malaysian conglomerate YTL over a data center deal as the U.S. chip giant seeks more business in Southeast Asia. According to the report, the potential collaboration will include cooperation on cloud infrastructure and could be based on YTL's data center in Johor, southern Malaysia. Johor shares a border with Singapore.
The UK's Competition and Markets Authority (CMA) said on Friday that it was conducting a decision on Microsoft's (MSFT.).US) is seeking comments on whether the recent collaboration with OpenAI will raise competition concerns in the UK. The CMA said it would investigate whether the balance of power between the two companies has fundamentally shifted, giving one party more control or influence over the other. A spokesperson for the European Commission said that regulators have been "closely monitoring the control of OpenAI".
According to Apple's official website, Apple Music China has raised its subscription**, and it is worth noting that recently**platform members** in China have also been adjusted. According to the company's official website, Apple Music China has raised subscriptions, student subscriptions: 1 yuan to 6 yuan per month, individual subscriptions***1 yuan to 11 yuan per month, and family subscriptions ***1 yuan to 17 yuan per month. Users of existing subscriptions will automatically renew with a new ** at the time of their next payment, unless the user cancels the subscription at least one day in advance.
There are reports that Amazon recently began testing a humanoid bipedal robot, DigiIt, which was designed by Amazon-backed AgilityRobotics. AgilityRobotics CEO Shelton said Digit's current operating costs are around $10 to $12 per hour based on its ** and service life, but the company expects the cost to drop to $2 to $3 per hour (plus software management fees) as production ramps up, significantly lower than the original labor costs.
When Google's just-launched large model Gemini was launched, a demonstration that shook the industry was now suspected of counterfeiting. Google officially released a blog post titled "How it's made: interacting with Gemini through multimodal prompting", listing the process demonstrated in **, explaining and clarifying.
Meta Platforms will use the new AMD Mi300X chip in its data centers. Previously, AMD officially launched the AI GPU accelerator Instinct Mi300X and the world's first data center acceleration processor AU Instinct Mi300A at the "Advancing AI" event held on December 7, complementing the computing power market.
According to AMD, the new MI300 series of AI hardware products, including the MI300A and MI300X hardware products, are up to 60% better performance than the NVIDIA H100. AMD CEO Lisa Su said AMD's Mi300X hardware offering is "the industry's most advanced AI accelerator" and claims that it outperforms Nvidia's current offerings.
lululemon's third-quarter revenue was $2.2 billion, up 19% year-over-year.
Fisker's CEO said the stock price is currently undervalued.
In other markets, the New York Mercantile Exchange's February delivery closed down 156% to close at 2014 per ounce$5.
West Texas Intermediate (WTI)**1$89, up 27% to close at 71 per barrel$23.