Overnight US stocks | The three major indexes rose, and Bullish (BLSH.US) rose by 83.78% on its first day of listing.

On Wednesday, the three major indexes rose, with the S&P 500 index setting a record for the second consecutive trading day. [US Stocks] At the close, the Dow rose 463.66 points, or 1.04%, to 44922.27 points; the Nasdaq rose 31.24 points, or 0.14%, to 21713.14 points; the S&P 500 index rose 20.82 points, or 0.32%, to 6466.58 points. Bullish (BLSH.US) rose 83.78% on its debut, while Coreweave (CRWV.US) fell 20.83%. Stablecoin giant Circle (CRCL.US) fell 6.15%. The Nasdaq China Golden Dragon Index rose 2.08%, Bilibili, Inc. Sponsored ADR Class Z (BILI.US) rose 6.61%, and iQIYI, Inc. Sponsored ADR Class A (IQ.US) rose 5.41%. [European Stocks] The German DAX30 index rose 123.09 points, or 0.51%, to 24173.21 points; the FTSE 100 index rose 15.14 points, or 0.17%, to 9162.95 points; the French CAC40 index rose 51.55 points, or 0.66%, to 7804.97 points; the Euro Stoxx 50 index rose 51.43 points, or 0.96%, to 5387.40 points; the Spanish IBEX35 index rose 128.21 points, or 0.86%, to 15007.81 points; the Italian FTSE MIB index rose 228.58 points, or 0.55%, to 42164.00 points. [Asia-Pacific Stock Markets] The Nikkei 225 index rose 1.3%, the KOSPI index in South Korea rose 1.08%, and the Indonesia Composite Index rose 1.3%. [Crude Oil] At the close, the price of light crude oil futures for September delivery on the New York Mercantile Exchange fell 52 cents to $62.65 per barrel, down 0.82%; while the price of Brent crude oil futures for October delivery fell 49 cents to $65.63 per barrel, down 0.74%. [Metals] Spot gold rose 0.23% to $3355.91 per ounce. Traders have fully priced in the Fed cutting interest rates by 25 basis points in September. [Cryptocurrency] Bitcoin rose nearly 1.9% to $122387.5, while Ethereum rose 2.9% to $4724.39. [Macro News] Sources: Trump's list of candidates for Fed Chair expands to 11, including Wall Street's senior strategists. According to reports, two unnamed government officials revealed that the Trump administration is considering 11 candidates to replace Fed Chair Powell when his term ends in May of next year. The new members include David Zervos, Chief Market Strategist at Jefferies Financial Group Inc., former Fed Governor Larry Lindsey, and Rick Rieder, Chief Investment Officer for Global Fixed Income at BlackRock, Inc. These new candidates, including eight previously confirmed candidates, also include Fed Vice Chairman Bowman, Fed Governor Waller, and Fed Vice Chairs Jefferson. Officials confirmed that the candidate list also includes Mark Zandi, who served as an economic advisor in the Bush administration, Dallas Fed President Logan, and former St. Louis Fed President Br... Fed's Goursby: Need more evidence of inflation improvement Every meeting has the possibility of action. Chicago Fed President Goursby said on Wednesday that he could not rest assured that tariffs would not push up inflation and was not sure that the U.S. labor market was deteriorating, two reasons partially supporting the rate cuts proposed by colleagues. However, he opened the door to a shift in position ahead of the Sep 16-17 Fed policy meeting, saying rate cuts would be the inevitable choice if the labor market deteriorated significantly; and it was entirely possible to cut rates first, then suspend or reverse policy paths based on new data. Goursby said "all meetings this fall could be windows for policy adjustments." He emphasized the need to see several months of improving inflation data to be convinced that inflation is returning to the 2% target, and thereby support rate cuts. He pointed out that there are only two months of mild data so far, and the latest CPI data shows a worrisome rise in service inflation. US ethics agency warns of conflicts of interest in Bezent's financial asset divestment. The U.S. federal ethics office warned this week that Treasury Secretary Bezent had failed to comply with an agreement to divest financial assets. The U.S. federal ethics office wrote to Senate Finance Committee Chairman Michael D. Crapo on August 11, reminding Bezent of violations in meeting or modifying the agreement. With conflict of interest issues emerging, Bezent is leading Trump's agenda on tax, trade, and financial deregulation. A millionaire who once served as a hedge fund manager, Bezent pledged before his confirmation hearing in January to divest from dozens of funds, trust funds, and farmland investments. Cabinet officials are required to sell certain assets and investments within 90 days of confirmation to avoid potential conflicts of interest, with most members having completed their compliance agreements, but Bezent has not fulfilled this promise. The Bank of Canada considered rate cuts in July but was inclined to wait for more data. The Bank of Canada discussed cutting rates by 25 basis points at its July meeting, but ongoing U.S. trade disputes, the resilience of the Canadian economy, and rising inflation risks ultimately led the Bank of Canada to maintain its policy rate at 2.75% for the third consecutive meeting. In its minutes, the Bank of Canada said, "It is premature to assess how tariffs and trade restructuring will affect Canadian economic activity and inflation. Members agreed that if the economy continues to weaken and core inflation pressures wane, they need to wait for more definitive information before drawing firm conclusions about whether there is more room for easing." [Stock News] Bridgewater Fund Q2 significantly increased holdings in NVIDIA Corporation and liquidated holdings in Alibaba Group Holding Limited Sponsored ADR and other Chinese concept stocks. Bridgewater Fund released its second quarter portfolio report as of June 30, significantly increasing holdings in NVIDIA Corporation (NVDA.US) by approximately 4.39 million shares (154.37% increase), increasing holdings in Alphabet Inc. Class C(GOOG.US) by 2.56 million shares (84.08% increase), and Microsoft Corporation(MSFT.US) by 910,000 shares (111.88% increase). In addition, the company has newly established positions in Arm(ARM.US), Lyft(LYFT.US), and other stocks, while liquidating holdings in Alibaba Group Holding Limited Sponsored ADR(BABA.US), PDD Holdings Inc. Sponsored ADR Class A(PDD.US), Baidu Inc Sponsored ADR Class A(BIDU.US), and JD.com, Inc. Sponsored ADR Class A(JD.US) and other Chinese concept stocks. As of June 30, Bridgewater Fund's total size was $24.8 billion, an increase of 14.81% from the previous period. Apple Inc. plans to enter the AI Siasun Robot&Automation, home security, and smart display markets. Apple Inc. is planning to make a comeback in the field of artificial intelligence with a series of ambitious new devices, including the Siasun Robot&Automation, a simulated version of Siri, smart speakers with displays, and home security cameras. According to sources, the desktop Siasun Robot&Automation, which serves as a virtual companion, is the core of Apple Inc.'s artificial intelligence strategy, with a target launch date in 2027. At the same time, smart speakers with displays are expected to be released next year, as part of Apple Inc.'s foray into entry-level smart home products. Home security is seen as another huge growth opportunity. The new cameras will be fixed to Apple Inc.'s security system, enabling home automation. This approach is expected to enhance the appeal of Apple Inc.'s product ecosystem to consumers. Oracle Corporation cuts jobs in its cloud infrastructure division to address expenses related to artificial intelligence spending. According to reports, Oracle Corporation is laying off employees in its high-profile cloud computing division, making it the latest company to take measures to control costs as it invests heavily in artificial intelligence infrastructure. Affected employees were informed this week that their positions had been eliminated. Two sources said that some of the layoffs were related to performance issues, and the division is still actively recruiting. An Oracle Corporation spokesperson did not respond to multiple requests for comment. The full extent of the cuts is yet to be determined. Recently, many tech giants have chosen to cut expenses in other areas of their business to address cost increases related to artificial intelligence. This year, Microsoft Corporation has cut about 15,000 jobs, while Amazon.com, Inc. and Meta have also carried out layoffs. Tesla, Inc. job listings suggest entry into the New York ride-sharing market. Tesla, Inc. is recruiting personnel to test its driving assistance technology on the streets of New York City, indicating that the automaker may want to expand its ride-sharing service to the largest metropolitan area in the U.S. Tesla, Inc. is seeking a full-time driver to operate prototype vehicles to collect data for up to 8 hours a day. The position is located in Queens and requires applicants to be familiar with autonomous driving systems, with an hourly rate potentially exceeding $30. Following the limited launch of its driverless taxi service in Austin, Tesla, Inc. is seeking to expand the service nationwide. The company recently launched some ride-sharing operations in San Francisco, with human safety monitors sitting in the driver's seat, and plans to expand the service to Nevada and Arizona. While the new job listings do not explicitly mention any connection to the driverless taxi business, data collection is typically the first step in launching autonomous ride-sharing services. Amazon.com, Inc. to offer same-day delivery of fresh groceries in 3,300 cities. Amazon.com, Inc. currently offers same-day delivery of fresh groceries in over 1,000 cities and plans to expand the service to more than 2,300 cities by the end of this year, a major expansion as demand for food delivery remains resilient. The company said in a statement on Wednesday that customers can order perishable goods such as fruits and vegetables, dairy products, meats, seafood, baked goods, as well as frozen foods and household items. In most cities, Amazon.com, Inc. Prime members can enjoy free same-day delivery of fresh groceries if the order exceeds $25. For non-members, the service charges $13 regardless of order size. The stock prices of chain supermarkets such as Kroger Co. (KR.N) and Walmart Inc. (WMT.N) have fallen as a result. [Major Bank Rating] Standard Chartered Bank: Raises year-end Ethereum price target to $7500. Standard Chartered Bank raised its year-end target price for Ethereum from $4,000 to $7,500 on Wednesday, citing improved industry participation in recent months and an increase in Ethereum holdings. The new target price represents a premium of nearly 60% over Ethereum's high of over $4,700 on Wednesday. As the world's second-largest cryptocurrency, Ethereum has become the preferred choice for investors seeking higher returns. Unlike Bitcoin, which relies solely on price appreciation, Ethereum can be used for staking - holders lock tokens to support the Ethereum network and receive rewards. Over the past four weeks, Ethereum's price has surged more than 50% due to the passage of the "Genius Act". The legislation aims to establish a regulatory framework for stablecoins pegged to the U.S. dollar, which is expected to increase their acceptance and drive up the prices of assets including Ethereum. Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said, "We expect that by the end of 2028, the stablecoin industry will grow by about eight times, which will have a significant direct impact on Ethereum's fees." Most stablecoins are issued and traded on the Ethereum blockchain, driving demand for Ethereum for transaction fees.