Zheng Quan Shi Bao·2025-11-15 00:20Market Overview - The majority of European and American stock markets closed lower on November 14, with the Dow Jones Industrial Average down 0.65% at 47147.48 points, the S&P 500 down 0.05% at 6734.11 points, and the Nasdaq up 0.13% at 22900.59 points [1][2] - For the week, the Dow Jones increased by 0.34%, the S&P 500 by 0.08%, while the Nasdaq decreased by 0.45% [1] Chinese Concept Stocks - The Nasdaq China Golden Dragon Index fell by 1.61%, while the Wind Chinese Concept Technology Leaders Index dropped by 2.28% [2] - Popular Chinese concept stocks mostly declined, with notable drops including Futu Holdings down over 7%, Gaotu Group down over 5%, and Xpeng Motors down over 5% [4] Oracle Corporation - Oracle's stock fell nearly 7% this week, reflecting growing concerns over AI themes and high valuations in tech stocks [5] - The company has committed to investing thousands of billions in chip purchases and data center construction to fulfill agreements with OpenAI, leading to a nearly 30% drop in stock price over the past month [5][6] - Barclays downgraded Oracle's debt rating to "underweight," warning that its credit rating could fall to BBB-, just above junk status, and highlighted the risk of exhausting cash reserves by November 2026 [6][7] Federal Reserve and Interest Rates - Market expectations for a rate cut by the Federal Reserve in December have decreased significantly, with the probability dropping from 67% to below 50% [8] - Kansas City Fed President Jeff Schmieding expressed concerns that further rate cuts could entrench high inflation rather than support the labor market [8] Commodity Prices - International gold prices fell over 2%, with COMEX gold futures down 2.62% to $4084.4 per ounce, while silver futures dropped 5.21% to $50.4 per ounce [9] - The decline in gold prices is attributed to reduced optimism regarding Fed rate cuts, as rising interest rates diminish the appeal of non-yielding assets like gold [9] - Crude oil prices saw an increase, with West Texas Intermediate rising 2.15% to $59.95 per barrel, influenced by geopolitical tensions [9]