Overview of US Stock Market and Related Developments on Tuesday

On Tuesday, the US stock market overall rose, with the Dow Jones and S&P 500 indices performing well, both hitting new intraday and closing all-time highs. At the close, the Dow rose 123.74 points, an increase of 0.28%, closing at 44860.31 points, with an intraday high of 44903.01 points; the Nasdaq rose 119.46 points, an increase of 0.63%, closing at 19174.30 points; the S&P 500 index rose 34.26 points, an increase of 0.57%, closing at 6021.63 points, with an intraday high of 6025.42 points.

However, US President-elect Trump claimed on Monday evening that he would impose an additional 25% tariff on products imported from Mexico and Canada, and an additional 10% tariff on goods imported from China. As a result of this tariff threat, the US automotive sector was heavily impacted, with General Motors and Ford both experiencing significant declines of 8.99% and 2.63%, respectively.

The "Tech Seven Sisters" in the US stock market had mixed results, with Tesla closing down, Nvidia up 0.62%, Google A up 0.88%, Apple up 0.94%, Meta up 1.49%, Amazon up 3.19%, and Microsoft up 2.12%. Most Chinese concept stocks closed down, with the Nasdaq Golden Dragon China Index falling 0.84%, and several stocks such as NIO down over 7% and Zeekr down over 4%, while a few such as NetEase, Baidu, and Miniso saw gains.

On Tuesday, the Federal Reserve released the minutes from the monetary policy meeting held on November 6-7, indicating that the previous rate cut of 25 basis points met expectations, and officials were optimistic about easing inflation and a strong labor market, leaving room for further rate cuts, while emphasizing that rate cuts would be gradual. Additionally, Chicago Fed President Goolsbee predicted on Monday that unless there are clear signs of an overheating economy, the federal funds rate will continue to decline, and the Fed will further cut rates towards a neutral policy stance.

In terms of economic data, the US consumer confidence index rose to a more than one-year high of 111.7 in November. In the commodities market, on the 26th, international oil prices fell, with the New York Mercantile Exchange's light crude oil futures for January 2025 settling at $68.77 per barrel, down 17 cents, a decrease of 0.25%.