今夜，大逆转！特朗普，输了！

Market Overview - US stock market experienced a significant reversal, opening lower but closing higher despite concerns over a government shutdown [2] - The healthcare sector saw gains due to a positive agreement between Pfizer and the White House, contributing to a narrowing of losses in the stock market [3] Economic Indicators - US Treasury yields fell across the board, with the 10-year yield dropping to 4.11% [6] - The ADP report indicated an unexpected decline in US employment for September, aligning with other data suggesting a slowdown in the labor market [8] - Manufacturing activity in the US contracted for the seventh consecutive month, although the market showed limited reaction to this news [8] Government Shutdown Impact - The ongoing government shutdown poses a risk of missing key economic data necessary for Federal Reserve decision-making [9] - Investors are concerned about the duration of the shutdown and its potential impact on the stock market, although historical precedents suggest limited macroeconomic effects [10] Sector Performance - Semiconductor stocks surged, with Micron Technology rising nearly 6% and TSMC increasing by 2%, driven by price hikes in NAND Flash products [10] - Morgan Stanley predicts that the price increase cycle in the semiconductor industry may extend until 2026, creating a strong short-term catalyst [10] Federal Reserve Developments - The US Supreme Court temporarily blocked Trump's attempt to dismiss Federal Reserve Governor Lisa Cook, marking a victory for the Fed's independence [11] - The next Federal Reserve meeting is scheduled for October 28-29, where decisions on potential interest rate cuts will be made [12]