Only those who know how to short positions are masters.

Market review

On Thursday, the US dollar index once stood above the 107 mark, then gave up all the gains, but rose again after Powell's hawkish speech, and finally closed up 0.36% at 106.87, closing higher for the fifth consecutive trading day. U.S. Treasury yields rose and fell, with the benchmark 10-year Treasury yield closing at 4.443%; the two-year Treasury yield, which is more sensitive to monetary policy, closed at 4.36%.

Spot gold was sluggish, hitting a low of $2,536.78 per ounce during the session, a new low since September 12, and finally closed down 0.32% at $2,564.66 per ounce. Spot silver once fell below the 30 mark, then bottomed out and rebounded, and finally closed up 0.44% at $30.44 per ounce.

International crude oil rose slightly as a sharp drop in U.S. fuel inventories offset concerns about oversupply and demand concerns caused by a stronger dollar. WTI crude oil finally closed up 0.78% at $68.44 per barrel; Brent crude oil closed up 0.68% at $72.25 per barrel.

The three major U.S. stock indexes were under pressure, with the Dow Jones Industrial Average closing down 0.47%, the S&P 500 down 0.6%, and the Nasdaq down 0.64%. Trump Media Technology Group (DJT.O) fell 6.7%, and Tesla (TSLA.O) fell 5.7%. The Nasdaq China Golden Dragon Index fell 1.8%, NetEase (NTES.O) rose more than 10%, Bilibili (BILI.O) fell 12%, and JD.com (JD.O) fell more than 6%.

The major European stock indices closed up collectively, with the German DAX30 index closing up 1.37%; the British FTSE 100 index closed up 0.51%; and the European Stoxx 50 index closed up 1.97%.

International News

1. Federal Reserve-Powell: The economy does not show that the Fed needs to rush to cut interest rates; Kugler: If the progress of inflation decline stagnates, it may require a suspension of interest rate cuts.

2. The annual rate of PPI in the United States in October was 2.4%, higher than the expected 2.3%, and the previous value was revised up from 1.8% to 1.9%. The number of initial jobless claims in the United States for the week ending November 9 was 217,000, the lowest since the week ending May 18, 2024.

3. Middle East situation-Iranian Army Commander: Will decide the time and method of responding to Israel; the action will be "devastating"; the United States submitted a ceasefire draft proposal to the Speaker of the Lebanese Parliament.

4. The EIA crude oil inventory in the United States increased by 2.089 million barrels in the week ending November 8, an increase greater than the expected 750,000 barrels. However, gasoline inventories fell sharply by 4.407 million barrels that week, and the expected increase was 586,000 barrels.

5. The IEA raised its forecast for global oil demand growth in 2024 to 92.10,000 barrels per day, and slightly lowered the 2025 forecast to 990,000 barrels per day.

$btc