Zhong Guo Ji Jin Bao·2025-08-12 00:59Market Overview - The US stock market opened the week with declines, with the Dow Jones falling by 200.52 points (0.45%) to close at 43,975.09 points, the Nasdaq down by 64.62 points (0.30%) at 21,385.40 points, and the S&P 500 decreasing by 16.00 points (0.25%) to 6,373.45 points [2] - A record proportion of fund managers, approximately 91%, believe that US stocks are currently overvalued, marking the highest level since 2001 [4] - Hedge funds net sold $1 billion in US stocks last week, while institutional investors focused on long positions bought $4 billion [4] Technology Sector - Nvidia and AMD have reached an agreement with the Trump administration to pay 15% of their revenue from chips sold to China to the US government in exchange for export licenses [5][7] - Nvidia will pay 15% of its revenue from H20 chips sold in China, while AMD will do the same for MI308 chips [7] - Major tech stocks mostly declined, with Apple down 0.83%, Amazon down 0.62%, and Nvidia down 0.3% [5] Energy Sector - Energy stocks experienced a broad decline, with ExxonMobil down 0.87%, Chevron down nearly 1%, and ConocoPhillips down 0.39% [8][9] - WTI crude oil prices remained stable, closing at $63.99 per barrel [8] Gold Market - Gold prices fell significantly, with spot gold dropping 1.6% to a low of $3,341.25 per ounce, marking a new low in over a week, while December futures fell 2.5% to settle at $3,404.70 per ounce [10] - The decline in gold prices is attributed to multiple negative factors, including Trump's exemption on gold tariffs, the extension of the US-China trade truce, and market anxiety over upcoming US inflation data [10]