Sou Hu Cai Jing·2025-12-10 00:37Market Overview - US stock market showed cautious trading ahead of the Federal Reserve's last meeting of the year, with the Dow Jones down 0.38%, S&P 500 down 0.09%, and Nasdaq up 0.13% [1] - Market expectations indicate a high probability of a 25 basis point rate cut by the Federal Reserve, with the FedWatch tool showing a probability of 89.4%, significantly up from less than 67% a month ago [1] Banking Sector - JPMorgan Chase's stock fell 4.66%, marking its largest drop since April, due to higher-than-expected spending projections for 2026 [2] - The financial sector overall faced pressure, with the financial ETF down 0.37% [2] Technology Sector - Performance among major tech stocks was mixed, with the US Tech Giants Index up 0.14% [2] - Notable movements included Tesla and Google rising over 1%, while Meta fell 1.48% and Apple and Nvidia saw slight declines [2][3] Chinese Stocks - Chinese stocks experienced a collective decline, with the Nasdaq Golden Dragon China Index down 1.37% [4] - Baidu led the decline with a drop of over 4%, while other companies like Beike and Xinyi Technology also saw significant losses [4][5] Silver Market - Silver prices surged, with spot silver up 4.33% to $60.653 per ounce, and COMEX silver futures rising 4.72%, both reaching historical highs [6] - Factors contributing to this rise include low silver inventories and strong industrial demand, with a projected structural supply gap of approximately 9.5 million ounces by 2025 [6][7] AI Industry Developments - Meta announced a delay in the release of its next-generation AI model, "Avocado," to Q1 2026, potentially shifting to a proprietary model [8] - Major tech companies, including Google, Microsoft, and Amazon, formed the "AI Agent Foundation" to establish open-source standards for AI technology [8] SpaceX IPO Plans - SpaceX is accelerating its IPO plans, aiming to raise over $30 billion with a target valuation of approximately $1.5 trillion, potentially becoming the largest IPO in history [9] - The company expects revenues of $15 billion in 2025, increasing to $22-24 billion in 2026, with its Starlink business as a key growth driver [9] Mining Sector Consolidation - Anglo American and Teck Resources' merger proposal received overwhelming shareholder approval, with 99.2% in favor, aiming to create a $50 billion market cap company focused on copper mining in Chile and Peru [10] Regulatory and Geopolitical Developments - The European Commission has initiated an antitrust investigation into Google regarding its use of online content for AI training [11] - In geopolitical news, Ukraine's President expressed willingness to hold elections and submit a revised peace plan to the US, indicating new developments in the Russia-Ukraine situation [11]