市场消化降息预期，欧股小幅高开，美股指期货下挫，金银齐涨，加密货币回落

Core Viewpoint - The market is gradually digesting the dovish signals from the Federal Reserve and the optimistic sentiment from the recent US-China summit, leading to a marginal weakening of the short-term upward momentum in risk assets [1]. Market Trends - US stock index futures collectively declined, while European stock indices mostly rose, and Asian stocks followed the overnight US market's upward trend. The US Treasury yields remained stable, and the dollar index fluctuated slightly above the 100 mark. Gold and silver prices increased, while oil prices fell, and cryptocurrencies experienced a pullback after an initial rise [1][5]. - The market focus is shifting towards the upcoming unemployment claims data to be released on Wednesday, which is crucial for the Federal Reserve's assessment of the economic fundamentals and policy calibration [1]. Federal Reserve Signals - Several key Federal Reserve officials have recently reinforced dovish signals, supporting the expectation of a rate cut in December. The probability of a rate cut has exceeded 70% in the current market pricing, although this has shown significant volatility due to internal disagreements among policymakers and the lack of core economic data [2]. Asian Market Performance - Asian stock markets rebounded collectively, driven by optimism surrounding Google's new AI model and reports of the company's plans to develop its own AI chips, boosting investor confidence in the technology sector [3]. Key Market Data - S&P 500 futures fell by 0.13%, Nasdaq 100 futures dropped over 0.2%, and Dow Jones futures decreased by 0.15%. European indices opened mixed, with the Euro Stoxx 50 up by 0.2% and the German DAX flat. The Nikkei 225 index closed up by 0.1% [5]. - The 10-year US Treasury yield stood at 4.036%, while the dollar index decreased by 0.03% to 100.15. Spot gold rose by 0.02% to $4135 per ounce [5].