With the good news of the Bank of America's financial report, the UK withdrawing the tax cut policy, the market sentiment has stabilized, and the technology stocks that have fallen deeply have ushered in a rebound. The Dow rose more than 550 points to return to the 30,000 mark. The S&P rose more than 2.6%, breaking above its 200-week moving average. The Nasdaq jumped more than 3.4%, while the Hanan index rose more than 2.2%.

After Chinese leader Xi Jinping declared in the report of the 20th National Congress that education, technology and talents are the foundation of China's development into a strong country, and BYD expects profit growth in the third quarter to be as high as 365%, electric vehicle stocks have benefited, and Chinese car manufacturers have benefited. The new force Sanxiong "Wei Xiaoli" strengthened, and Tesla soared by more than 7%.

The third-quarter earnings season is in full swing, and investors are watching whether U.S. companies will cut their forecasts in the face of worsening inflation and an economic slowdown. Despite stellar earnings reports from Bank of America and Bank of New York Mellon on Monday, BofA's latest research report shows that only 42% of S&P companies that have reported earnings have reported better-than-expected sales and earnings per share., the lowest level since the first quarter of 2020.

On the political and economic front, Britain's new Chancellor of the Exchequer, Jeremy Hunt, on Monday completely scrapped Prime Minister Truss's "mini-budget" plan, which caused market chaos, and scaled back a large-scale energy subsidy program. Then, British Prime Minister Liz Truss apologized in a meeting with some Conservative MPs, saying his government had made mistakes in a "mini-budget", sending the pound higher and British bond yields lower.

Investors continue to pay attention to news related to the Fed's policy. Gita Gopinath, the first vice president of the International Monetary Fund (IMF), said on Monday that U.S. inflation is quite stubborn, and the Fed should insist on raising interest rates and continue to tighten monetary policy, otherwise it will lose its credibility.. The market expects the Fed to rise another 3 vards each in November-December.

The Ukrainian-Russian war has heated up again, with the Russian army sending a swarm of suicide drones to attack Ukraine early on Sunday morning and at least four explosions in central Kyiv. The White House said on Monday that the United States will hold Russia accountable for "war crimes".

Trade safely