Jinshi Summary: US nonfarm payrolls beat expectations; State Council executive meeting deploys measures to stabilize the market.
Original headline金十汇总：美非农超预期，国常会部署稳市
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US October nonfarm payrolls came in well above expectations, prompting markets to increase bets on a December Federal Reserve rate hike, while China's State Council pledged to improve capital-market stabilization mechanisms. The Shenzhen Stock Exchange revised its ChiNext index methodology, gradually capping single-constituent weight at 15%, and six leading brokerages completed swap-facility operations, deploying their first batch of stock investments. Microsoft is reportedly phasing out its Oracle AI compute leasing agreement, and TSMC plans to build 3D DRAM at Nvidia's request. Separately, Trump named Stephen Miller as White House chief of staff, Saudi Arabia cut December Asian crude prices to a six-year low, and Kazakhstan aims to reduce gold's share of reserves below 75% over the medium term. Fed officials Daly and Williams both flagged elevated inflation, with Daly saying further hikes are possible if needed. Investors will watch the December Fed meeting and the implementation of China's market-stabilization measures.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
US nonfarm payrolls, Federal Reserve, China State Council, Shenzhen Stock Exchange, Oracle (ORCL), Microsoft (MSFT), Saudi Arabia, NVIDIA (NVDA)
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