Zhi Tong Cai Jing·2025-09-16 23:53Market Overview - The three major U.S. stock indices paused their upward momentum, with the S&P 500 down 0.13% to 6606.76 points, the Dow Jones down 0.27% to 45757.9 points, and the Nasdaq down 0.07% to 22333.96 points, as retail sales showed steady performance [1] - European stock indices also declined, with Germany's DAX30 down 1.68%, the UK's FTSE 100 down 0.93%, and France's CAC40 down 1.00% [2] - The U.S. dollar index fell by 0.68%, closing at 96.639, while the euro and pound strengthened against the dollar [3] Commodity Insights - Gold prices reached a new high, with futures rising 0.2% to $3,688.90 per ounce, supported by expectations of an upcoming Federal Reserve rate cut [4] - Oil prices increased, with light crude oil futures up 1.93% to $64.52 per barrel and Brent crude up 1.53% to $68.47 per barrel [2] Economic Data - U.S. retail sales for August rose 0.6% month-over-month, exceeding expectations, partly due to tariffs raising product prices [5] - Industrial production in the U.S. showed minimal growth in August, with manufacturing output increasing by 0.2% [7] - The U.S. housing market is expected to benefit from lower mortgage rates and anticipated Federal Reserve rate cuts, as indicated by the unchanged builder confidence index [8] Corporate Developments - Major U.S. tech companies announced plans to invest over $40 billion in AI infrastructure in the UK, with Microsoft committing $30 billion by 2028 and Google planning to invest $6.8 billion over the next two years [12] - PIMCO suggested that the Federal Reserve should pause its reduction of mortgage-backed securities holdings to support the housing market, as the current mortgage spread is near historical highs [9] Analyst Ratings - Bernstein initiated coverage on Apple (AAPL.US) with an outperform rating and a target price of $290, while UBS raised its gold price targets for 2025 and 2026 [13]