The U.S. stock market went down a little on Monday after four weeks of gains in major indices.

Market attention remains on retailers’ holiday sales performance, while several Federal Reserve officials, including Chair Powell, are scheduled to deliver speeches this week.  

October’s new home sales in the U.S. fell below expectations. 

Last week, all three major U.S. indices marked their fourth consecutive week of gains.  

In October, the interest rate on 10-year U.S. government bonds briefly exceeded 5%. However, it then steadily decreased. As a result, the U.S. stock market experienced consecutive rebounds.

Strategists at Deutsche Bank suggested that the S&P 500 index is expected to reach a record high of 5100 points next year, marking the highest target among major Wall Street banks for the S&P 500. 

U.S. Stock Market

Fundamental Analysis: 

Popular tech stocks showed mixed movements. Nvidia rose nearly 1%, while Microsoft edged up by 0.31%, hitting a record high at the close. Meta, however, fell by over 1%. 

Precious metals, metal processing, and cruise sectors led the gains, with Vista Gold rising by 10%, MAG Silver up by over 3%, and Royal Caribbean up nearly 2%. 

Lithium batteries, railways, and pharmaceutical retail sectors faced declines.  

American Axle fell over 6%, Southern Copper over 4%, and Chilean mining chemicals, CSX Transportation, and Canadian National Railway over 2%.  

Additionally, pharmaceutical companies Eli Lilly, AstraZeneca, and Novo Nordisk dropped over 1%.  

iRobot plunged by over 17%, marking its worst single-day performance since January 2021, after EU warnings about potential market competition harm from Amazon’s acquisition of iRobot. 

On the other hand, the Nasdaq Golden Dragon China Index dropped by 1.58%.  

Companies like Manbang and XPeng plunged over 4%, while Ideanomics, Futu Holdings, and Bilibili declined by over 3%.  

Nio, VIPKid, Tencent Music, and Weibo fell by over 2%, and JD.com, iQIYI, and Alibaba dropped by over 1%.  

Netease and Pinduoduo experienced slight declines. 

Technical Analysis:   

(S&P 500 Index, 1-day chart) 

Market Trends: 

• Dow fell by 56.68 points, a 0.16% decline, closing at 35,333.47 points. 
• Nasdaq fell by 9.83 points, a 0.07% decrease, closing at 14,241.02 points. 
• S&P 500 Index dropped by 8.91 points, a 0.20% decrease, closing at 4,550.43 points. 

Hong Kong Stock Market

In today’s Hong Kong stock market, all three major indices experienced declines.  

Core tech stocks witnessed most declines, with Kuaishou falling over 4%, Meituan over 3%, and Alibaba nearly 2%.  

Xiaomi Group, however, surged by over 3%. Baidu and Netease followed the uptrend.  

Apple concept stocks saw significant rises, with AAC Technologies leading by nearly 8%.  

Pharmaceutical stocks were active, with WuXi AppTec rising by over 7%. 

Apple-related stocks surge, leading the way, while AAC Technologies gains nearly 8%. 

Apple Inc. is set to commence official production of the first-generation Vision Pro in December this year, with an initial stockpile of around 400,000 units.  

The sales target for 2024 is 1 million units, reaching 10 million units by the third year. Estimated hardware costs are approximately $1700.  

The China mainland supply chain for Apple’s Vision Pro has significantly increased to about 60%.

Technical Analysis:  

(Hang Seng Index, 1-day chart) 

Market Trends: 

• Hang Seng Index (HSI) dropped by 0.6%, closing at 17,419.42 points. 
• Hang Seng Tech Index (HSTECH) declined by 0.31%, closing at 4,019.21 points. 
• Hang Seng China Enterprises Index (HSCEI) fell by 0.72%, closing at 5,981.66 points. 

FTSE China A50 Index 

Fundamental Analysis: 

On November 28th, A-share indices opened slightly lower but swiftly rebounded into positive territory after initial market fluctuations.  

However, the CSI 50 Index opened significantly lower, nearly 5%, before retracing to a 3% decline. 

The electrical machinery, automotive parts, optical electronics, medical services, and medical device sectors led gains, while aviation airports, real estate development, real estate services, cultural media, and communication services faced declines.  

Concepts like electronic paper, supply and marketing cooperatives, hub motors, mixed reality, CRO, and machine vision remained active. 

Technical Analysis: 

(SSE Composite Index, 1-day chart) 

Market Trends: 

• Shanghai Composite Index (SHCOMP) rose by 0.1%, closing at 3,034.8 points. 
• Shenzhen Component Index (SZCOMP) increased by 0.23%, closing at 9,808.43 points. 
• ChiNext Index (CHINEXT) surged by 0.26%, closing at 1,931.18 points. 
• SSE STAR Market 50 Index (SSE50) rose by 0.16%, closing at 869.41 points. 

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