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on friday, october 4th, eastern time, u.s. stocks closed higher, with the dow hitting its highest closing record in history and the three major stock indexes recording gains for the fourth consecutive week. september's non-farm payrolls data far exceeded wall street expectations, and market concerns about an economic recession have eased.

china's assets exploded, and popular chinese concept stocks generally rose. the nasdaq china golden dragon index closed up 3.05%, with a cumulative increase of 11.85% this week, recording gains for the fourth consecutive week.

wti crude oil continued to rise on friday, with a cumulative increase of more than 9% this week, recording the largest weekly increase in more than a year.

three major stock indexes post fourth consecutive week of gains

the dow rose 341.16 points, or 0.81%, to 42352.75 points; the nasdaq rose 219.37 points, or 1.22%, to 18137.85 points; the s&p 500 rose 51.13 points, or 0.90%, to 5751.07 points.

this week, the dow rose 0.09%, the s&p 500 rose 0.22%, and the nasdaq rose 0.1%. the three major stock indexes rose for the fourth consecutive week.

the non-farm payrolls data for september, which has attracted much market attention, was released. the u.s. department of labor reported on friday that the number of new jobs in the u.s. labor market in september far exceeded expectations, while the unemployment rate unexpectedly fell.

the seasonally adjusted u.s. non-farm payrolls increased by 254,000 in september, compared with expectations for an increase of 140,000. the previous value was revised from 142,000 to 159,000. the u.s. unemployment rate in september was 4.1%, the lowest since june 2024. it was expected to be 4.2%, and the previous value was 4.2%.

"fed spokesperson" nick timiraos said that the september employment report may close the door for the federal reserve to cut interest rates by another 50 basis points next month and keep officials on track to cut interest rates by 25 basis points.

according to cme group's "fed watch tool", the market currently predicts that the probability of the fed cutting interest rates by 25 basis points by november is 89.4%, and the probability of cutting interest rates by 50 basis points is 10.6%.

regarding the recent strikes by dockworkers in the united states, xinhua news agency reported that the international longshoremen's federation, which represents the interests of port workers on the east coast and gulf coast of the united states, and the american maritime union, which represents employers, issued a joint statement on the 3rd, announcing that the two sides had reached an agreement on wages. reached a preliminary agreement on the issue and agreed to extend the main contract that expired on september 30 to january 15, 2025, allowing the two parties to return to the negotiating table to continue negotiations on other outstanding issues.

the statement said all current strikes will cease immediately and all work covered by the main contract will resume.

meta’s most powerful immersive ai media model is here

most technology stocks rose. the wind us tamama technology index rose by 1.19%, tesla rose by about 4%, amazon and facebook rose by more than 2%, netflix rose by nearly 2%, apple and google rose by less than 1%, and microsoft fell by less than 1%. %.

meta platforms has announced that it has built a new artificial intelligence model called movie gen that can create realistic video and audio clips based on user prompts, claiming it is on par with tools from leading media generation startups such as openai and elevenlabs. comparable.

iphone se 4 is reported to be equipped with apple’s self-developed 5g modem. according to public information, apple is expected to launch the fourth-generation iphone se in the spring of 2025. this model will use an oled screen for the first time and may be priced from us$459 to us$499.

investors are looking forward to tesla's launch event next week. according to tesla bull and deepwater management analyst gene munster, tesla may launch two other new cars in addition to the much-anticipated robotaxi.

nasdaq china golden dragon index climbs for fourth consecutive week

the nasdaq china golden dragon index rose 3.05%, rising 11.85% this week, recording gains for the fourth consecutive week.

popular chinese concept stocks generally rose. tiger securities rose by about 35%, ehang intelligent rose by about 20%, jinkosolar rose by more than 14%, zhihu rose by more than 12%, daqo new energy rose by more than 11%, huya live, weibo rose about 10%, and miniso rose more than 8%.

jpmorgan has significantly increased its exposure to chinese assets. according to data from the hong kong stock exchange, jpmorgan chase increased its stake in xpeng motors by approximately hk$639 million, raising its shareholding ratio from 4.57% to 5.35%. the bank also increased its investment in boss direct recruitment by approximately hk$138 million, increasing its shareholding ratio from 9.88% to 10.05%.

wti crude oil rose more than 9% this week

wti crude oil futures for november delivery rose 67 cents, or 0.9%, to close at $74.38 a barrel on friday.

the futures closed at $68.18 a barrel on friday. based on this calculation, the futures price has increased by us$6.20, or 9.09%, the largest weekly increase since march 2023.

most energy stocks rose, with exxon mobil, conocophillips, and occidental petroleum rising nearly 2%, schlumberger rising more than 1%, and chevron falling less than 1%.

affected by oil prices, the energy sector generally rose this week. the energy sector in the s&p 500 index rose 5.9%, which is expected to record its largest weekly gain in more than a year.