Huan Qiu Wang·2025-12-13 09:34Market Performance - The three major U.S. stock indices closed lower, with the Dow Jones down 0.51% at 48,458.05 points, the S&P 500 down 1.07% at 6,827.41 points, and the Nasdaq down 1.69% at 23,195.17 points [3] - This week, the Dow Jones rose 1.05%, while the S&P 500 and Nasdaq fell by 0.63% and 1.62%, respectively [3] Sector Performance - Large technology stocks mostly declined, with the U.S. Technology Seven Giants Index down 1.12%. Notable declines included Nvidia down over 3% and Amazon down nearly 2% [3] - Bank stocks showed mixed results, with JPMorgan up 0.45% and Goldman Sachs down over 2% [4] - Energy stocks fell across the board, with ExxonMobil down 0.63% and Chevron down 0.49% [5] - Airline stocks had mixed performance, with Boeing up nearly 2% and Delta Airlines down over 1% [6] Chip Sector - The semiconductor sector was weak, with the Philadelphia Semiconductor Index down 5.1%. Broadcom fell over 11% and Micron Technology dropped over 6% [6] Chinese Stocks - Most Chinese stocks declined, with the Nasdaq Golden Dragon China Index down 0.3% and the U.S. China Technology Leaders Index down 0.18%. Notable declines included Canadian Solar down over 10% and Daqo New Energy down over 6% [6] Macro News - The Federal Reserve announced a reserve management plan to purchase $40 billion in short-term Treasury bonds monthly, exceeding market expectations. Major investment banks revised their 2026 debt issuance forecasts, with Barclays and JPMorgan estimating the Fed may absorb about $500 billion in short-term Treasuries next year [6] - Chicago Fed President Goolsbee explained his opposition to the recent rate cut, emphasizing the need for more information, particularly regarding inflation data [7]