U.S. Futures Down; Gold Market Cap Hits $20T; AI Market to Near $1T; Wall Street Sees 5-10% Rise by Year-End
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① **[Three Major Futures Decline]**
As of press time, Dow futures down 0.06%, S&P 500 index futures down 0.14%, Nasdaq futures down 0.33%.
② **[How Much is the World's Physical Gold Worth? A New Record: $20 Trillion]**
With international gold prices continuously hitting new highs approaching $2,700, the precious metals market is also setting a brand-new "milestone". Jeroen Blokland, founder of Blokland Smart Multi-Asset fund, wrote in a tweet on Wednesday, "The total market value of the world's physical gold has broken through the $20 trillion mark for the first time."
③ **[Bain & Company Forecasts AI Market Could Approach $1 Trillion in 3 Years]**
Bain & Company wrote in a recent report that due to the rapid proliferation of artificial intelligence technology, the global market for related products is expanding, and it is expected that the industry's market size will approach $1 trillion by 2027.
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④ **[Former US Treasury Secretary: The Fed Cannot "Do as It Pleases" in Cutting Interest Rates, Otherwise It Will Trigger Inflation Again]**
After the Fed began the easing cycle last week with an "aggressive" cut of 50 basis points, many investors hope for more such "good things". However, former US Treasury Secretary Lawrence Summers said the Fed may not be able to "do as it pleases" in cutting interest rates significantly, otherwise it may trigger inflation again.
⑤ **[Wall Street Banks Predict US Stocks Could Rise Another 5%~10% by the End of the Year]**
As the Fed's interest rate cut cycle increases the likelihood of a soft landing for the US economy, Wall Street's optimism about US stocks is growing. Analysts predict that the S&P 500 index will break through the 6,000-point mark. Stuart Kaiser, head of US equity trading strategy at Citi, said in an interview with the media on Tuesday that this bullish sentiment has its reasons. He predicted that by the end of this year, US stocks could rise another 5%~10%.
⑥ **[BlackRock: Bitcoin is a "Safe-Haven Asset"]**
Robbie Mitchnick, head of digital asset business at BlackRock, the world's largest asset management firm, said in an interview with Bloomberg on September 24 that Bitcoin is mistakenly considered a "risk-on" asset. On the contrary, he believes that Bitcoin is more like a "safe-haven asset".
⑦ **[Buffett Further Reduces His Stake in Bank of America, Shareholding Ratio Approaches Regulatory Threshold]**
According to a newly submitted document to the US Securities and Exchange Commission, Buffett's Berkshire Hathaway sold Bank of America shares on three consecutive trading days on September 20, 23, and 24, 2024, totaling 21.561 million shares, cashing out about $863 million; after this sale, Berkshire Hathaway still holds 10.5% of the shares of this second-largest US bank, closer to the 10% regulatory threshold.
⑧ At 22:00 Beijing time, the US seasonally adjusted new home sales annualized total (houses) (August); at 22:30 Beijing time, the US weekly EIA crude oil inventory change (barrels).
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