November 22nd Market Highlights News

Cryptocurrency and Blockchain:

1. Circle Introduces Cross-Chain USDC Standard: Circle has announced the launch of a new cross-chain USDC standard, marking a technological development in the cryptocurrency space.
2. Coinbase Suspends Polymath Trading: Coinbase has declared the suspension of support for Polymath (POLY) transactions, drawing attention in the cryptocurrency market.
3. Tether Seized: The U.S. Department of Justice has announced the seizure of approximately $9 million worth of Tether, a significant intervention in the stablecoin market.
4. U.S. Sanctions on Binance: The U.S. Treasury imposes the largest financial sanctions in history on Binance, with a fine of $4.3 billion, and the founder, Changpeng Zhao, steps down as CEO.

Economic and Market Trends:

1. Privy, a Web3 Wallet Company, Secures Funding: Start-up Privy has announced the completion of a $18 million Series A funding.
2. Court Orders in SEC Lawsuit: A court issues orders in the Securities and Exchange Commission (SEC) lawsuit against Terraform Labs and Do Kwon, involving expert witnesses.
3. U.S. Stock Market Surges in November: According to data from Bank of America and UBS Group, the U.S. stock market experienced a significant surge in November, driven by corporate share buybacks and increased bullish bets on trend-tracking funds.
4. HP Stock Price Declines: Despite HP Inc. reporting overall robust performance, its stock price experienced a preliminary decline of over 3% in extended trading on Tuesday.
5. Positive Market Response to Argentine Elections: Investors' positive response to the results of Argentine elections led to a substantial increase in the stock prices of U.S.-listed Argentine companies.
6. Virgin Galactic Stock Price Falls: Virgin Galactic Holdings Inc.'s stock price dropped by 5.1% on Tuesday, ending a two-day upward trend.

U.S.-China Economic and Currency News:

1. Stable Oil Prices amid U.S. Inventory Increase and OPEC Cuts: Oil prices remain stable as traders balance a significant increase in U.S. inventories, awaiting OPEC's subsequent actions.
2. U.S. Dollar Hovers Near Two-and-a-Half-Month Low: Following the release of minutes from the last Federal Reserve meeting, the U.S. dollar hovers near a two-and-a-half-month low, alleviating pressure on the Japanese yen.

Company Business and Industry Dynamics:

1. Weak Performance of HarmonyOS Concept Stocks: HarmonyOS concept stocks showed weakness with fluctuations after the opening, including drops in the stock prices of companies like Zhihu Education. Stocks of Yunji Intelligent and Jiulian Technology declined by over 7%, and stocks of companies like Shengtong, Chuling Information, and Softton Dynamics also fell.
2. NVIDIA Reports Explosive Growth in Q3 Earnings: NVIDIA's Q3 earnings experienced explosive growth, with CEO Jensen Huang stating that the era of Artificial Intelligence (AI) is taking off.
3. Five Positive Factors Drive Strong Performance in Beijing Stock Exchange (BEEX): BEEX exhibits strong market performance driven by five positive factors, detailed interpretations provided by relevant fund managers.

Technology and Social Media:

1. Elon Musk Sues Media Matters: Tesla CEO Elon Musk's social media company, X, files a lawsuit against liberal advocacy group Media Matters, accusing them of creating false reports.
2. Baidu Stock Price Rises: Baidu's stock price increases following the release of financial results, with brokerage firms offering the latest target price perspectives.

Automobiles and Transportation:

1. Xiaopeng Motors' Perspective on Autonomous Driving: Xiaopeng Motors' founder, He Xiaopeng, expresses the view that achieving fully autonomous driving may require exploring alternative paths.
2. McDonald's Position in Mainland China and Hong Kong: McDonald's may become a significant real estate investor in the mainland China and Hong Kong regions.