The market today can be described as turbulent. In the stock market, the major indices continued to be under pressure, causing the S&P 500 to decline for consecutive days, but the technology sector rebounded significantly, supporting the Nasdaq; Tesla even hit a new high during trading, demonstrating resilience. The RMB remains hot, with offshore RMB reaching a 14-month high, and the exchange rate trend is closely watched. The energy market is also unsettled, with WTI crude oil touching its lowest level since 2021 during the day, amid a strong bearish sentiment.

Employment data reflect signs of economic weakness in the US. Non-farm employment in October saw the largest decline in five years, although there was some recovery in November, the growth momentum was clearly insufficient, and the unemployment rate even rose to a four-year high. In contrast, retail sales in October were flat overall but exceeded expectations in core indicators, injecting a glimmer of hope for Q4 growth.

Policy signals are also continuously being released. The Trump administration threatened to use "all tools" to retaliate against the EU digital tax, even targeting European companies like SAP and Siemens, which could trigger new trade frictions. On Wednesday evening, he will deliver a nationwide speech, with the White House indicating it may include policy previews for next year.

Competition in the tech sector is becoming increasingly fierce. XPeng obtained a license for L3 autonomous driving, becoming the third domestic company to do so, upgrading the competitive landscape with Tesla's FSD; Apple’s foldable iPhone is set to be released next year, and in the next two years, the number of phone models will expand from five to seven, accelerating innovation. Overall, these changes are reshaping the landscape of trading opportunities.