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Inflation data released the Fed's interest rate cut in December, but it lit up a yellow light for next year. The latest inflation data may make the Fed more cautious about the pace of interest rate cut, but not now. The latest report shows that inflation in the United States in November was in line with expectations, so investors still generally expect the Federal Reserve to cut interest rates by 25 basis points next week. However, stubborn price pressure also confirms the concern that the progress towards the Fed's 2% target may stagnate. This concern may prompt officials to be more restrained in predicting the number of interest rate cuts in 2025, while waiting for more evidence that inflation will steadily reach the target. Fed policymakers will release new forecasts and interest rate outlook at the end of the policy meeting in Washington on December 17-18. "I think they can safely cut interest rates by 25 basis points in December. The market is ready for this, "said Loretta Mester, former president of Cleveland Federal Reserve Bank. "However, they must reconsider next year, because now it seems that the progress of inflation has really stagnated."US stocks closed: Nasdaq stood at 20,000 points for the first time in history, and star technology stocks such as Google and Tesla hit record highs. US stocks closed mixed, with the Dow down 0.22%, the S&P 500 index up 0.82% and the Nasdaq up 1.77%, breaking through 20,000 points for the first time and hitting a new record high. Star technology stocks are climbing, with Tesla, Google, Amazon, Meta and Netflix all hitting record highs. Among them, Tesla and Google rose by nearly 6%, while Amazon, Meta and Nai soared by more than 2%. Bitcoin regained its position of $100,000, and cryptocurrency concept stocks soared collectively. MicroStrategy rose by more than 9%, Riot Platforms rose by more than 6%, and Bit Digital and Coinbase rose by nearly 4%. Gold and silver mining stocks generally rose, Cordillen Mining rose more than 5%, Pan American Silver rose more than 3%, and harmony Gold and Hekela Mining rose nearly 3%.Brazil's Vale said it had reached an agreement with the US Department of Energy to provide financing of $282.9 million for the Louisiana plant until 2031.

Dollar deposits and wealth management are popular again. Experts suggest paying attention to exchange risk. Although it is in the cycle of interest rate reduction by the Federal Reserve, dollar deposit products are still attractive to investors. Since December, a number of bank wealth management subsidiaries have intensively put on shelves US dollar wealth management products. Judging from the rate of return, the performance benchmark of some US dollar fixed-income wealth management products currently launched is close to 5%, but the performance benchmark of RMB wealth management products with the same risk level is mostly around 2%. According to the statistics of Puyi standard data, as of December 9, there were 1,312 surviving products in US dollar financing, and the surviving scale of US dollar financing reached 281.927 billion yuan, which has doubled from the surviving scale of 140.351 billion yuan at the end of December last year. In addition, although banks have previously lowered the interest rate of dollar deposit products, from the current point of view, the interest rate of some banks' dollar deposits remains above 4%, attracting many customers to buy. According to industry insiders, under the Fed's interest rate cut cycle, the main reason for the high heat of dollar wealth management and dollar deposits is the exchange rate expectation of a strong dollar. If the market expects the US dollar to appreciate or remain stable, holding US dollar assets (such as US dollar wealth management and US dollar deposits) can benefit from the potential exchange rate appreciation even if interest rates fall. In addition, in order to diversify risks, some investors choose to allocate part of their funds to US dollar assets to realize diversification of asset allocation. (Securities Daily)Public offerings frequently employ conservative products of fund managers to seek attack. Driven by the positive sentiment in the stock market, many fund companies have recently strengthened the "share" of products and the layout of specific tracks by hiring more aggressive fund managers. In the announcements of hiring fund managers by many fund companies, the importance of product "stock" and high flexibility track is highlighted. For example, some conservative funds hire fund managers who like high positions, some funds who buy dividend resources stocks hire internet fund managers, and some funds hope to strengthen the layout of hard technology and hire semiconductor fund managers. The insiders believe that Public Offering of Fund's offensive features in hiring more fund managers are related to his judgment on the positive rebound in the stock market. Many fund companies stressed that even if the market outlook index is average, structural opportunities will be highlighted and the profit-making effect will not decrease, which may be a market feature for a long time to come. (Securities Times)International oil prices rose on the 11th. As of the close of the day, the futures price of light crude oil for January 2025 in the New York Mercantile Exchange rose by $1.70 to close at $70.29 per barrel, an increase of 2.48%. London Brent crude oil futures for delivery in February 2025 rose by $1.33 to close at $73.52 per barrel, an increase of 1.84%.

U.S. Treasury officials said that U.S. revenue, expenditure and deficit all hit new highs in November.The Arab Baath Socialist Party led by former Syrian President Bashar al-Assad said it would suspend its operation indefinitely.The concept of high-speed copper connection is very popular. Recently, benefiting from the explosive demand growth of AI computing power, the market funds focus on the supporting concept of high-speed copper connection in the upper reaches of NVIDIA. On December 11th, a number of high-speed copper connection concept stocks rose sharply, with Zhaolong Interconnect rising by 12.58%, Woer Nuclear Materials by 8.70%, Shenyu Shares by 4.77% and Derun Electronics by 4.99%. High-speed copper connection, also known as high-speed connector, is a core data transmission component, which constitutes an efficient signal transmission system. Manager Public Offering of Fund said that the concept stocks of high-speed copper connection continued to rise, which actually benefited from the explosion of demand for AI computing power. Invista once introduced at GTC2024 that NVL72 uses copper cable interconnection to save costs significantly compared with optical modules. Shanxi Securities predicts that the new market of high-speed copper cable brought by GB200 will be close to 6 billion US dollars in 2025, and the usage scenarios of high-speed copper cable will continue to expand. It is found that a number of public and private equity funds have heavily invested in the concept stocks of high-speed copper connections that have risen recently in the third quarter. There are also fund managers who heavily invested in related stocks in the second quarter, but significantly reduced their positions in the third quarter, missing the rise of concept stocks in the fourth quarter. There are also some fund managers who continue to be optimistic about the stimulation of the demand of upstream industries caused by the outbreak of AI computing power, and have successively added high-speed copper connection concept stocks. (Securities Times)