Preview of US Stock Market | The three major stock index futures all rose, and Trump allowed NVIDIA Corporation (NVDA.US) to sell H200 chips to China.

1. Before the opening of the US stock market on December 9 (Tuesday), the futures of the three major US stock indexes rose together. As of the time of writing, Dow Jones futures were up 0.08%, S&P 500 index futures were up 0.09%, and Nasdaq futures were up 0.04%. 2. As of the time of writing, the German DAX index rose by 0.26%, the UK FTSE 100 index rose by 0.11%, the French CAC40 index fell by 0.59%, and the European Stoxx 50 index fell by 0.23%. 3. As of the time of writing, WTI crude oil rose by 0.36% to $59.09 per barrel. Brent crude oil rose by 0.34% to $62.70 per barrel. Market News Trump: May lower some tariffs, immediate rate cut is a "touchstone" for the new Federal Reserve chairman. US President Trump accepted an interview with the American political website Politico at the White House on the 8th local time. When asked if he was considering exemptions for other goods that Americans consider too expensive, Trump answered, "Yes"; when asked if he was ruling out the possibility of further lowering other tariffs, Trump replied, "Some goods will (lower tariffs), others I will increase tariffs. What's happening now is all because of tariffs, like all car companies are coming back to the United States." In addition, when discussing interest rates, Trump was asked if an immediate rate cut was a touchstone for the new chairman, to which he answered "yes," but did not explicitly state that he had communicated with potential chairman candidates. Goldman Sachs Group, Inc.: Fed rate cut this week is a certainty, but future easing threshold is raised. Goldman Sachs Group, Inc. said that it is widely expected that the Federal Reserve will cut interest rates by 25 basis points for the third consecutive time at the December Federal Open Market Committee meeting this week, lowering the target range for the federal funds rate to 3.5%-3.75%. However, this rate cut is expected to come with a hawkish signal, indicating that the threshold for further policy easing has been raised. Goldman Sachs Group, Inc. pointed out in a report that there are sufficient reasons for this rate cut. In terms of the job market, job growth has been consistently lower than the growth rate of the labor supply, the unemployment rate has risen for three consecutive months to 4.4%, and several indicators of labor market tightness have weakened, with some alternative data showing an increase in layoffs in recent times, posing new downside risks. Supreme Court debates Trump's "firing power," Fed independence may face imminent threat. A key justice of the US Supreme Court expressed the hope of protecting the independence of the Federal Reserve. At the same time, the conservative-majority Supreme Court is considering whether to grant President Donald Trump the power to dismiss members of the Federal Trade Commission and other similar independent agency officials. In Monday's debate, Justice Brett Kavanaugh repeatedly raised questions related to the Fed. He asked the government's chief lawyer and the Deputy Attorney General John Sullivan to respond to the arguments of opponents, that if Trump's dismissal power is interpreted broadly in the FTC case, it will ultimately harm the independence of the Fed. "I have the same concerns," said Kavanaugh, who was appointed by Trump in his first term. New York Fed survey: US consumer inflation expectations stable, view on job prospects improving. A survey by the New York Fed shows that US consumer inflation expectations remained stable in November, while the outlook on job prospects improved. According to the monthly Consumer Expectations Survey report released by the New York Fed on Monday, inflation expectations for the next year remained almost unchanged at 3.2%; inflation expectations for the next three and five years also remained at 3%. Respondents believe that the probability of unemployment has dropped to 13.8%, the lowest level this year. It is widely expected that the Federal Reserve will cut interest rates for the third consecutive time on Wednesday to guard against worsening labor market conditions. However, several Fed officials have expressed concerns about the potential for tariffs to continue to push prices higher and are closely monitoring estimates of inflation expectations. Individual Stock News Trump announces: allows NVIDIA Corporation (NVDA.US) to sell H200 chips to China. According to reports, US President Trump announced on social media on the 8th local time that the US government will allow NVIDIA Corporation to sell its H200 artificial intelligence chips to China, but will charge a fee for each chip. Trump said that the US will take a 25% cut from the export of the chips. The US Department of Commerce is finalizing the details, and the same practice will also apply to AMD, Intel Corporation, and other US companies. In response, Chinese Foreign Ministry spokesperson Guo Jiajun stated: "We have noticed the relevant reports. China has always advocated achieving mutual benefit and win-win results through cooperation between China and the US." First time in two years! Sky-high valuation causes concern, Morgan Stanley downgrades Tesla, Inc. (TSLA.US). Morgan Stanley downgraded Tesla, Inc. to a "hold" rating for the first time since June 2023, citing the company's overvaluation. Tesla, Inc.'s current price-to-earnings ratio is approximately 210 times the expected earnings for the next 12 months, making it the second-largest company in the S&P 500 in terms of market cap, second only to Warner Bros. Discovery (WBD.US) with a P/E ratio of 220 times, far ahead of the third-ranked Palantir (PLTR.US) with a P/E ratio of 186 times. Morgan Stanley stated that Elon Musk is eager to transform Tesla, Inc. into a Siasun Robot & Automation and artificial intelligence company, but the stock price of this electric car maker already reflects these business contents, and its market value has reached an "all-time high". Alphabet Inc. Class C (GOOGL.US) faces EU antitrust investigation again: AI tools are accused of abusing market dominance to suppress competitors. The EU has launched an antitrust investigation into Alphabet Inc. Class C, concerned that it is using its own artificial intelligence (AI) tools to squeeze out competitors and abuse its dominant market position. The European Commission announced on Tuesday that it will investigate whether Alphabet Inc. Class C is distorting market competition by imposing unfair terms on content creators, giving its own AI models an exclusive advantage over competitors, and distorting competition. In addition, EU regulators will also investigate to what extent Alphabet Inc. Class C's AI tools draw from the content of online publishers, and whether the related publishers receive fair compensation. EU Commissioner for Competition Teresa Ribera stated on Tuesday: "This investigation sends a clear signal of our determination to protect digital media and other content creators, and reflects our firm stance on maintaining a fair competitive environment in the emerging AI market." Warner Bros. (WBD.US) options trading "hot speculation": Paramount launches hostile takeover, uncertainty added to Netflix merger prospects. After ViacomCBS announced a hostile takeover of Warner Bros. Discovery Channel at a cash price of $30 per share on Monday, options trading on Warner Bros. stocks had the second busiest day ever. However, an obvious sign is that traders are not betting on the long-term prospects of the company. The announcement stated that Paramount's bid corresponds to an enterprise value of $108.4 billion. Existing shareholders need to decide whether to surrender their shares by January 8 next year unless the takeover offer is extended. Just last Friday, Netflix announced it would acquire Warner Bros., including its film and television production departments, HBO Max, and HBO, at a price of $27.75 per share (approximately $82.7 billion in total enterprise value). Important Economic Data and Events Preview 11:00 Beijing Time: US October JOLTS job openings (thousands). 01:00 the next day Beijing Time: US December EIA monthly report estimate - current year Brent crude oil price (USD/barrel). 02:00 the next day Beijing Time: US December 9 10-year Treasury auction - total amount (billion USD). 05:30 the next day Beijing Time: US API crude oil inventory change as of December 5th. 01:00 the next day Beijing Time: EIA releases monthly Short-Term Energy Outlook report. Earnings Preview Before Wednesday's market opening: Hello Group Inc. Sponsored ADR (MOMO.US)