synergylandcrypto| us stocks overnight| U.S. stocks surged higher and fell. Three major indexes fell. Alibaba (BABA.US) rose more than 7%

Zhitong Finance learned that on Thursday, the three major indexes fell, and the Dow broke through 40 for the first time.SynergylandcryptoThe intraday high of 2000 was due to investors continuing to readjust their expectations for interest rate cuts following slowing inflation data and strong corporate earnings.

The Dow rose as high as 40051 in intraday trading on Thursday.Synergylandcrypto. 05:00 . The Nasdaq rose to 16797.83 and the S & P rose to 5325.49, both hitting new intraday highs.

[U.S. stocks] as of the close, the Dow was down 38.62 points, or 0.10%, at 39869.38; the Nasdaq was down 44.07, or 0.26%, at 16698.32; and the S & P 500 was down 11.05, or 0.21%, at 5297.10. Novax Pharmaceuticals (NVAX.US) is up 11%, and Faraday Future (FFIE.US) is up 134%, up 3450% this week. The Nasdaq china golden dragon index rose 2.5%, while Alibaba (BABA.US) rose more than 7% after being bullish on citron above $100.

[European stocks] the main index of European stocks fell, with Germany's DAX30 index down 0.69%, France's CAC40 index down 0.63%, Europe's Stoxx 50 index down 0.56% and Britain's FTSE 100 index down 0.08%.

[Asia-Pacific stock market] the Nikkei 225 index rose more than 1.3%, Singapore's Straits Times index rose 0.47%, Vietnam's VN30 index rose 1.42%, and Indonesia's Jakarta composite index rose 0.95%.

[cryptocurrency] Bitcoin fell more than 1% to $65483.8, while Ethernet Fong fell more than 3% to $2941.26.

[gold] COMEX gold futures closed down 0.59% at US $2380.8 / oz, while COMEX silver futures closed up 0.27% at US $29.81 / oz.

[crude oil] WTI June crude oil futures closed up 60 cents, or 0.76 percent, at 79.23 U.S. dollars per barrel, while Brent July crude oil futures closed up 52 cents, or 0.63 percent, at 83.27 U.S. dollars per barrel.

[metal] London metal is up and down, with aluminum down 0.21%, zinc down 0.37%, Lenny up 2.9%, and Lund copper up more than 1.6%.

[macro news]

Goldman Sachs: the global economy is expected to grow 2.7% year-on-year in 2024, and core inflation will fall back to 2.5%. Goldman Sachs pointed out thatSynergylandcryptoWe expect global real GDP to grow by 2.7% year-on-year in 2024, reflecting strong real household income growth, a gradual recovery in manufacturing activity and the start of interest rate cuts as inflation cools. We expect global core inflation to fall to about 2.5 per cent by the end of 2024, as core commodity inflation continues to decline, housing inflation falls further, and service inflation and wage growth continue to slow in response to an improvement in the balance of supply and demand in the global economy.

Mr. Williams: it's nice to see inflation slow, but it's not enough to bring about interest rate cuts in the near future. New York Fed President Williams saidSynergylandcryptoHe welcomed the weakening consumer inflation data, but said the positive news was not enough to prompt the Fed to cut interest rates in the near future. It is important not to overemphasize the latest economic news, but the slowdown in inflation in April was "a positive development after disappointing data from previous months". The "overall trend" of easing inflationary pressures "looks pretty good". But he is still not sure whether price pressures will continue to move closer to the 2% target before interest rates are cut. He also said there was no need to tighten monetary policy now, curbing speculation that the Fed might need to raise interest rates further to bring inflation down to ideal levels.

Us industrial output is stagnant and factory output is falling. Us industrial production stagnated in April, curbed by a decline in factory output, underscoring the difficulty for the manufacturing sector to gain momentum. Output from factories, mines and utilities was flat in April after a 0.1 per cent downward revision a month ago, according to the data. Manufacturing output fell 0.3 per cent, and growth in March was revised downwards to 0.2 per cent, constrained by motor vehicle production. In addition, mining and energy extraction declined, while utility production increased.

The number of weekly jobless claims in the United States is falling, and the labor market is gradually easing. The number of initial jobless claims in the United States fell last week, indicating a potentially strong job market. The number of initial claims for unemployment benefits in the United States recorded 222000 in the week ended May 11. Last week the figure rose to its highest level in more than eight months, and this week's slight decline reversed some of last week's gains. The increase in initial jobless claims this week is largely due to a surge in jobless claims in New York, which is related to school spring break. While the US labour market remains healthy, it is steadily rebalancing after the Fed raised interest rates by 525 basis points since March 2022. The easing of labour market conditions and a return to the downward trend in inflation have raised the likelihood of interest rate cuts in September.

[individual stock news]

Tesla (TSLA.US) Berlin plant expansion plan won the support of the German municipal council. After weeks of protests, a German municipal council voted in favor of Musk's plan to expand Tesla's only European plant on the outskirts of Berlin, the Brandenburg Broadcasting Corporation reported. At the meeting, 11 delegates voted for Tesla, 6 against it and 2 abstained. The US electric car maker's new plan includes expanding about 40 hectares, a staff train station and roads to reduce heavy truck traffic in the area. The plan had previously been strongly opposed by environmental activists. According to the original plan, more than 100 hectares of forest will be cleared. A survey of 9200 residents of the city in February found that nearly 2/3 opposed the expansion. It is reported that Tesla has revised the original plan to be approved.

Goldman Sachs increased its holdings of pinduoduo (PDD.US) and reduced its holdings of AAPL.US in the first quarter. Goldman Sachs increased its stake in pinduoduo (PDD.US) by more than 5.54 million shares, or 101%, in the first quarter, increased its stake in iqiyi (IQ.US) 8.1 million shares and YMM.US (YMM.US) 7.3 million shares, and reduced its stake in AAPL.US (Apple) by 6.9 million shares, according to Goldman's 13F u.s. stock position filing. At the end of the first quarter, the total market capitalization of Goldman's positions rose to $560 billion, up $20 billion from a month earlier.

F.US has asked its suppliers to cut costs to make its electric vehicle business profitable. A memo from Ford Motor Company shows that the company has asked its electric car suppliers to reduce costs to support profitability, saying that "everything is on the table". Discounts and sharp price cuts offered by competitors, including Tesla, to maintain consumer demand, forced Ford to take corresponding measures. To rekindle demand and avoid competition from other carmakers, analysts say electric carmakers need to launch cars that Volkswagen can afford.