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last night and this morning, with the latest us ppi data in line with expectations, all important data before the fed launched this round of interest rate cuts have been released. just as the us stock market was about to enter "wait mode",openai unexpectedly released the "strawberry" model, driving the us stock market to a wave of afternoon rally。

as of the close, the s&p 500 rose 0.75% to 5,595.76 points; the nasdaq rose 1% to 17,569.68 points; and the dow jones industrial average rose 0.58% to 41,096.77 points.

(s&p 500 index time-sharing chart, source: wind)

as the nasdaq and s&p rose for the fourth consecutive day,the s&p 500 is currently 1.3% away from its all-time high of 5,669.67 points.

of course, including huang renxun's speech yesterday, the tech giant has been pulling the us stock market higher for two consecutive days. this also means that such days will not appear every day, and the market will eventually return to a state that reflects fundamentals.

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.

on the other side of the atlantic, the european central bank cut interest rates by another 25 basis points as expected on thursday. lagarde expects inflation to pick up at the end of this year and then continue to decline next year. the ecb also lowered its economic growth forecast for this year and its outlook for the next two years.

hot stocks rise and fall

technology giants continued to rise on thursday, with apple up 0.05%, microsoft up 0.94%, amazon up 1.34%, meta up 2.69%, google-a up 2.34%, tesla up 0.74%, nvidia up 1.92%, and intel down 1.43%.

chinese concept stocks experienced mixed gains and losses, with the nasdaq china golden dragon index falling 0.79%. alibaba rose 0.80%, baidu rose 0.14%, pinduoduo rose 2.15%, jd.com rose 0.34%, netease fell 1.27%, nio fell 5.71%, li auto fell 3.58%, and xpeng motors fell 5.69%.

other news

[buffett's deputy sold more than half of berkshire's holdings]

ajit jain, the vice chairman of berkshire hathaway and in charge of insurance business, disclosed after the market yesterday that he sold 200 shares of berkshire class a shares at a price of $695,417.65 on september 9, which is equivalent to cashing out $139 million (equivalent to about 990 million yuan). influenced by this news, berkshire-a closed down 0.69% on thursday, falling for the seventh consecutive trading day.

after completing the transaction, jain himself still holds 61 shares of berkshire class a shares, his family trust also holds 55 shares, and the non-profit jain foundation holds 50 shares.

[gilead hiv prevention drug once again delivers positive results]

the results disclosed by gilead sciences on thursday showed that the new hiv pre-exposure prevention (prep) drug lenacapavir once again demonstrated extremely high effectiveness. among the 2,180 subjects in the lenacapavir group, there were only 2 new cases, 99.9% of the participants were not infected with hiv, and the relative risk was reduced by 96%; there were 9 new cases among the 1,087 subjects in the control group. as of thursday's close, gilead sciences closed up 2.74%, approaching its historical high.

eli lilly invests $1.8 billion to expand production capacity of weight loss and alzheimer's disease drugs

pharmaceutical giant eli lilly announced thursday it will invest $1.8 billion in two manufacturing sites in ireland to boost production of its popular weight-loss, diabetes and alzheimer's drugs.

[fda approves apple's hearing assistance software airpods pro as a hearing aid]

the u.s. fda announced on thursday that apple's hearing assistance feature (haf) has become the first over-the-counter (otc) hearing assistance software in history. the fda said that after being customized according to the user's hearing needs, airpods pro installed with the software will become an otc hearing aid that amplifies sound for people over 18 years old with mild to moderate hearing loss.

[moderna cuts development budget and stock price plunges]

moderna, a well-known mrna industry company, announced on thursday that due to poor vaccine sales, it would cut 20% of its research and development budget for the next three years, terminate five projects in its pipeline, and postpone the goal of achieving break-even from 2026 to 2028. affected by this, the company's stock price closed down 12.36%, setting a new low for the year.

the company also announced that the skin cancer mrna vaccine developed in collaboration with merck will be available as early as next year.

[analysts downplay the non-hbm memory market and lower micron technology's target price]

as of the close, micron technology closed down 3.79% on thursday. srini pajjuri, an analyst at ruijie financial, lowered the company's target price (us$160 → us$125) based on the temporary slowdown in the non-hbm memory market. pajjuri said that pc/smartphone customers appear to have built inventory in advance to cope with price increases, resulting in a milder seasonal performance in the second half of 2024.