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on september 12, local time, the three major u.s. stock indexes closed higher, with the nasdaq up 1%, the s&p 500 up 0.75%, and the dow up 0.58%. both the nasdaq and the s&p 500 rose for four consecutive days.

large technology stocks generally rose, with google and meta rising more than 2%, nvidia and amazon rising more than 1%, and tesla, apple, microsoft, and netflix rising slightly. warner bros. discovery rose more than 10%, the company's largest single-day increase since its u.s. ipo. wells fargo fell more than 4%, hitting a new closing low since february. unity software inc. rose nearly 10%, the largest single-day increase since december 1, 2023.

openai ceo sam altman and nvidia ceo jensen huang met with senior biden administration officials and other industry leaders at the white house on september 12 to discuss how to meet the huge infrastructure needs of artificial intelligence projects.

tech attendees also included anthropic ceo dario amodei, google president ruth porat and microsoft president brad smith, according to people familiar with the matter. on the government side, commerce secretary gina raimondo, president's national security advisor jake sullivan and energy secretary jennifer granholm were among the officials in attendance. representatives from the energy industry also attended. a white house official said the discussion centered on strengthening public-private partnerships in the development of artificial intelligence data centers in the united states. people familiar with the matter said,topics explored included the facility’s permitting, workforce, power requirements, and its economic impact.

image source: visual china

most of the popular chinese stocks fell, with the nasdaq china golden dragon index falling 0.79%. nio and xpeng motors fell more than 5%, futu holdings fell more than 4%, li auto fell more than 3%, manbang, bilibili, and netease fell more than 1%. pinduoduo rose more than 2%, while alibaba, jd.com, weibo, baidu, and vipshop rose slightly.

adobe's third-quarter revenue was $5.41 billion, while analysts expected $5.37 billion; third-quarter adjusted earnings per share were $4.65, while analysts expected $4.53;fourth-quarter revenue is expected to be between $5.50 billion and $5.55 billion, while analysts expected $5.60 billion; adjusted earnings per share for the fourth quarter are expected to be $4.63 to $4.68, while analysts expected $4.68.

adobe chairman and ceo shantanu narayen said the record-breaking third quarter results are a reflection of the company's relentless innovation and commitment to providing value to customers. with breakthrough advances in ai in creative cloud, document cloud, and experience cloud, the company is supporting millions of users around the world.

however, adobe's guidance for the fourth quarter failed to continue to exceed wall street's expected growth. based on the guidance range, adobe expects fourth-quarter revenue to grow 8.9% to 9.9% year-on-year, while based on analysts' expected revenue, the expected growth is about 10.9%. this means that even adobe's expected highest revenue growth for this fiscal quarter will slow down from 11% in the third quarter, and the degree of slowdown will exceed analysts' expectations.

after the financial report was released,adobe's u.s. stocks fell more than 9% after the market closed.

oracle executives expect revenue of at least $66 billion in fiscal 2026 and at least $104 billion in fiscal 2029, with earnings per share expected to grow 20% by then.

oracle's u.s. stocks rose more than 5% after the market closed.

wti october crude oil futures closed up $1.66, or 2.46%, at $68.97 per barrel. u.s. oil continued to rise throughout the day, and u.s. stocks set a new daily high in early trading, rising more than 3.7% to close to the integer of $70.

brent crude oil: brent november crude oil futures closed up $1.36, or 1.92%, at $71.97 per barrel. brent crude oil maintained its upward trend throughout the day, with u.s. stocks hitting a new high in early trading, rising more than 3.2% to close to $73.

on the news front, the international energy agency (iea) released a monthly report showing that oil demand in the first half of 2024 increased by 800,000 barrels per day year-on-year, the lowest level since the epidemic. even if opec+ completely cancels its plan to restore its daily production of 2.2 million barrels next year, it will not be able to avoid oversupply. hsbc said that no matter what supply measures opec+ takes, it is likely to hurt oil prices. if opec+ cancels its production cuts, it may lead to a return to a large oversupply in 2025. on the other hand, although maintaining production cuts may help prices rise at first, the move may also be seen as an "implicit acknowledgement" of weak global demand growth.

spot gold closed up 1.84% at $2,558.07 an ounce, setting a new all-time closing high.spot silver rose 4.19% to $29.8792 per ounce. comex gold futures rose 1.78% to $2,587.6 per ounce, setting a new record closing high. comex silver futures rose 4.48% to $30.225 per ounce.

gold stocks generally rose, with colderen mining up 5% and kinross gold up about 2%.

mona mahajan, senior investment strategist at edward jones, said:people usually wait and see before the federal reserve meeting, and the u.s. stock market will remain volatile in september, which is usually a weak month.if the market continues to trade on the back of the fed’s rate cuts and easing inflation, and ultimately a soft landing for the economy, historically, the market should continue to perform well in this scenario.

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