Zhi Tong Cai Jing·2025-12-11 23:40Market Performance - Oracle's stock price dropped nearly 11%, contributing to a decline in the Nasdaq index [1] - The Dow Jones Industrial Average reached an intraday record high of 48765.34 points before closing up 646.26 points, or 1.34%, at 48704.01 points [1] - The Nasdaq index closed down 60.30 points, or 0.25%, at 23593.86 points [1] - The S&P 500 index rose 14.31 points, or 0.21%, to close at 6900.99 points [1] European Market - The DAX 30 index in Germany rose by 188.41 points, or 0.78%, closing at 24298.44 points [1] - The FTSE 100 index in the UK increased by 44.97 points, or 0.47%, to 9700.50 points [1] - The CAC 40 index in France gained 63.07 points, or 0.79%, closing at 8085.76 points [1] - The Euro Stoxx 50 index rose by 47.63 points, or 0.83%, to 5755.75 points [1] - The IBEX 35 index in Spain increased by 135.38 points, or 0.81%, to 16882.08 points [1] - The FTSE MIB index in Italy rose by 236.66 points, or 0.54%, closing at 43702.00 points [1] Asia-Pacific Market - The Nikkei 225 index fell by 0.9% [2] - The KOSPI index in South Korea decreased by 0.59% [2] - The BSE SENSEX index in India rose by 0.51% [2] - The Jakarta Composite index in Indonesia dropped by 0.92% [2] Commodity Prices - Spot gold increased by 1.22%, closing at 4280.12 USD/ounce [3] - Spot silver slightly decreased by 0.07%, closing at 63.536 USD/ounce [3] - Light crude oil futures for January 2026 fell by 86 cents, or 1.47%, to 57.60 USD per barrel [3] - Brent crude oil futures for February fell by 93 cents, or 1.49%, to 61.28 USD per barrel [3] Economic Indicators - U.S. wholesale inventory growth in September reached a seven-month high, increasing by 0.5% month-over-month, surpassing market expectations of 0.1% [4] - Non-durable goods inventory rose by 0.7%, offsetting a 0.1% decline in August [4] - The inventory-to-sales ratio for wholesalers increased to 1.29, up from 1.28 in August [4] Federal Reserve Developments - The Federal Reserve reappointed 11 regional Fed presidents for five-year terms, alleviating concerns about personnel uncertainty [5] - The Financial Stability Oversight Council (FSOC) will focus on easing financial regulations to promote economic growth [5] Corporate Tax Changes - The U.S. Treasury is preparing a corporate tax reduction plan that could significantly benefit companies like Salesforce and Qualcomm [6] - The proposal aims to address concerns regarding the minimum tax rate imposed during the Biden administration [6] Company-Specific News - Tesla's U.S. sales in November fell to their lowest level in nearly four years, with a year-over-year decline of nearly 23% [7] - Apple successfully overturned parts of a court order in the Epic Games antitrust case, although most of the contempt findings remain intact [8] - OpenAI launched the advanced GPT-5.2 model, claiming improvements in general intelligence and coding capabilities [9] - Rivian is developing its own AI chips to replace Nvidia's technology in future vehicles, enhancing autonomous driving features [10] Analyst Ratings - Morgan Stanley lowered the target price for Meta Platforms from 820 USD to 750 USD [11] - KeyBanc reduced Oracle's target price from 350 USD to 300 USD due to concerns over its short-term outlook [11]