2 1 Shi Ji Jing Ji Bao Dao·2025-10-09 15:27Market Overview - US stock market opened lower on October 9, with all three major indices in the red [1] - Nvidia's market capitalization reached a new high of $4.7 trillion, with its stock price increasing by 3% [3] - The Nasdaq Golden Dragon China Index fell over 1.7%, with significant declines in Chinese stocks such as XPeng (down over 5%), Baidu, NIO, and Alibaba (each down over 4%) [3] Silver Market - Spot silver prices surpassed $50 per ounce for the first time in history, later breaking the $51 mark, with a year-to-date increase of over 73%, outperforming gold [4] - The rise in silver prices is attributed to a combination of factors, including a persistent global supply shortage and increased demand from the solar energy sector [4] - The World Silver Association forecasts a 2% increase in total silver supply by 2025, while total demand is expected to decrease by 1%, narrowing the global silver supply gap to 117.6 million ounces [4] Federal Reserve Insights - Federal Reserve Chairman Jerome Powell emphasized the importance of community banks in the US financial system during a recent event, highlighting their close ties to local economies [5] - Powell did not address the current economic situation or monetary policy in his remarks [6] - John Williams, President of the New York Federal Reserve, expressed support for further interest rate cuts within the year to mitigate potential risks in the labor market [8] - The minutes from the September FOMC meeting indicated a consensus among members to lower the federal funds rate target range by 25 basis points to between 4% and 4.25% due to signs of labor market weakness [9]