On December 23, local time, the three major U.S. stock indices closed higher, marking their fourth consecutive day of gains. The Nasdaq rose 0.57%, the S&P 500 gained 0.46%, and the Dow Jones Industrial Average edged up 0.16%. Notably, the S&P 500 hit a new closing record.
Most major tech stocks advanced, with the Wind U.S. Tech Giants Index climbing 1.18%. NVIDIA (NVDA) surged over 3%, adding $134.1 billion (approximately RMB 942.5 billion) to its market capitalization in a single session. Broadcom rose more than 2%, while Google and Amazon each gained over 1%. Meta, Apple, Microsoft, and Netflix saw modest increases, while Tesla and Intel dipped slightly.
Novo Nordisk jumped over 7% after the U.S. FDA approved its first oral GLP-1 weight-loss drug. The company stated that the drug is expected to launch in early 2026, with a cash price of $149 per month for the starting dose. For insured patients covering all doses, the monthly cost could be as low as $25.
Copper-related stocks strengthened, with Freeport-McMoRan rising 2.49% and Ero Copper up 2.01%. LME copper futures surpassed $12,000 per ton for the first time in history, marking a milestone for the key industrial metal.
Most Chinese ADRs declined, with the Nasdaq Golden Dragon China Index dropping 0.58%. Notable losers included Canadian Solar (down nearly 12%), Daqo New Energy (down over 5%), and JinkoSolar (down more than 3%). Gainers included Brainstorm Cell Therapeutics (up over 14%) and GenScript Biotech (up more than 12%).
WTI crude futures settled 0.64% higher at $58.38 per barrel, while Brent crude rose 0.50% to $62.38. Gold and silver continued their record-breaking rallies, with spot gold nearing $4,500 per ounce. Platinum futures surged over 9%, briefly hitting an all-time high of $2,341.90 per ounce.
Cryptocurrencies saw broad declines, with Bitcoin briefly falling below $87,000. Over 80,000 positions were liquidated globally in the past 24 hours.
The U.S. Commerce Department's preliminary data showed Q3 GDP grew at an annualized rate of 4.3%, up from Q2's 3.8%. Meanwhile, former President Trump commented on his preferences for the next Fed chair, emphasizing alignment with his views on interest rate policy.
According to CME's FedWatch Tool, markets currently price a 13.3% chance of a 25-basis-point rate cut in January 2024, with an 86.7% probability of unchanged rates.
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