All three major U.S. stock indexes closed slightly higher, with most large-cap technology stocks gaining
All three major U.S. stock indices closed slightly higher, with the Dow Jones Industrial Average up 0.32%, the S&P 500 Index up 0.24%, and the Nasdaq Composite up 0.21%. Most large-cap technology stocks rose, with Intel surging over 2%, and Apple, Google, Microsoft, and Amazon seeing modest gains; Tesla, Netflix, and Meta declined slightly. (Source: CaiLian Press)
European stocks ended with mixed performance, with the French CAC 40 index rising by 0.44%
European stocks ended with mixed performance, with the Euro Stoxx 50 index rising by 0.16%, the UK FTSE 100 index falling by 0.12%, the French CAC 40 index rising by 0.44%, the German DAX 30 index falling by 0.55%, and the FTSE Italy MIB index falling by 0.72%. (Source: CaiLian Press)
NVIDIA reports Q2 revenue of $46.7 billion for fiscal year 2026, and approves additional $60 billion share repurchase
NVIDIA's Q2 revenue for fiscal year 2026 was $46.7 billion, compared to $30.04 billion in the same period last year, and the market expectation was $46.058 billion; Q2 data center revenue was $41.1 billion, compared to $26.272 billion in the same period last year, and the market expectation was $40.911 billion. The expected revenue for the third fiscal quarter is around $54 billion, with a 2% fluctuation, and the market expectation is $53.46 billion. NVIDIA approved an additional $60 billion share repurchase. After the release of NVIDIA's financial report, its stock price fell by more than 5% in after-hours trading. (Source: Eastmoney Research Center)
Yellen criticizes Trump for firing Cook: It is illegal and dangerous, and may lead to catastrophic consequences
Former US Secretary of the Treasury Janet Yellen wrote that US President Trump's announcement to dismiss Federal Reserve Governor Lisa Cook was not only illegal but also extremely dangerous. Yellen, 79 years old, served as US Secretary of the Treasury from January 2021 to January 2025, and also held the position of Federal Reserve Chair from February 2014 to February 2018. Yellen is the second person in US history to have served as both Federal Reserve Chair and Secretary of the Treasury. (Source: Eastmoney Research Center)
GlobalFoundries: The progress of subsidies from the "Chip Act" is good, and there is no need to relinquish equity
On Wednesday (August 27th) local time, American chip manufacturing company GlobalFoundries stated that the company is making good progress in obtaining subsidies from the "Chip Act", and the framework does not involve any form of equity. John Hollister, CFO of GlobalFoundries, said at the Deutsche Bank Technology Conference on Wednesday that the company is receiving government financial support according to the "Chip Act" based on the completion of project milestones. (Source: Eastmoney Research Center)
Russia cuts 2025 economic growth forecast; high interest rates dampen credit demand
On Wednesday local time, during a cabinet meeting chaired by Russian President Putin, Finance Minister Siluanov stated that due to high interest rates implemented to curb inflation, which suppressed credit demand, Russia's economic growth forecast for 2025 has been significantly lowered from the previous 2.5% to 1.5%. Despite multiple rounds of Western sanctions imposed on Russia since the outbreak of the Russia-Ukraine conflict in 2022, Russia's "wartime economy" achieved robust growth of 4.1% and 4.3% in 2023 and 2024 respectively, far surpassing the performance of the Group of Seven (G7) member countries. However, the economy has noticeably decelerated this year. (Source: Eastmoney Research Center)
The new factory of Germany's leading military industry has been put into operation, which will become the largest ammunition production base in Europe
On Wednesday, local time, Rheinmetall, Germany's largest military industrial enterprise and a star stock in the European defense sector, held a commissioning ceremony for its new ammunition factory in the small town of Untersachsen, Germany. According to CCTV News, officials attending the ceremony included German Vice Chancellor and Finance Minister Wolfgang Schäuble, Defense Minister Ursula Pistorius, and NATO Secretary-General Jens Stoltenberg. (Source: Eastmoney Research Center)
U.S. Treasury Secretary Steven Mnuchin confirmed that the U.S. is exploring more opportunities to invest in various industries, but will not consider holding shares in NVIDIA
On Wednesday local time, US Treasury Secretary Scott Bessent confirmed that after finalizing the deal with Intel last week, the US government may consider acquiring equity stakes in other industries, but NVIDIA is not on the list. In an interview that day, when asked if there would be more plans similar to the Intel investment, Bessent responded, "Trump will become the only president in modern history to create assets for the American people, rather than creating debt. He saw that Intel had received government subsidies and questioned why American taxpayers could not share the benefits. So this deal immediately created $11 billion in value for the United States, and I believe there is still room for appreciation." (Source: Eastmoney Research Center)
International gold prices hit a new high but fail to save the day; world's largest gold miner plans large-scale layoffs to cut costs
Newmont Corporation, the world's largest gold miner, is exploring a comprehensive cost-cutting plan that could lead to significant layoffs. In 2023, Newmont acquired Newcrest Mining Limited for $15 billion, expanding its mine portfolio to approximately 20 mines. Coupled with Newmont's entry into the copper mining business, this has driven up the company's overall costs. (Source: Eastmoney Research Center)
"Third-ranking official of the Federal Reserve": Interest rate cuts may be imminent; central bank independence is of utmost importance
On Wednesday, Eastern Time, John Williams, the "third-ranking official" of the Federal Reserve and the president of the Federal Reserve Bank of New York, once again emphasized the importance of central bank independence, while President Trump is seeking to exert more control over monetary policy. In an interview that day, this influential policymaker did not directly comment on Trump's dismissal of Federal Reserve Governor Lisa Cook, but he emphasized the crucial role of the central bank in maintaining economic stability. (Source: Eastmoney Research Center)
OpenAI is sued for providing suicide advice, and urgently strengthens safety measures
On Tuesday, local time, the parents of a California teenager who committed suicide after engaging in prolonged interaction with ChatGPT filed a lawsuit against OpenAI and its CEO, Sam Altman, alleging that the company had placed profits above safety, despite knowing the risks when launching GPT-4. Adam Rine, 16, passed away on April 11. According to the lawsuit filed by his parents in San Francisco state court, Rine frequently discussed suicide with ChatGPT over several months. (Source: Eastmoney Research Center)
Customized signature pen praised by Trump; South Korean stationery manufacturer's stock surges 37% in two days
A small-cap stationery manufacturer located in South Korea has experienced a "sudden windfall" of soaring stock prices due to the admiration expressed by US President Trump. As a background, the South Korean listed company Mon Ami saw its shares surge by over 20% on Wednesday, following a 29% increase on Tuesday. Although the gains narrowed in the late trading session, the overall increase over the two days still reached 37%. By the close on Wednesday, Mon Ami's market capitalization was close to KRW 51.5 billion, equivalent to RMB 260 million. (Source: Eastmoney Research Center)
