The three major U.S. stock indexes were mixed on the day, with the Dow Jones up 0.68%, the S&P 500 index slightly up 0.06%, and the Nasdaq down 0.26%.

The weak employment data from the U.S. private sector has raised investors' expectations for the Federal Reserve to continue cutting interest rates in December, driving a sustained rotation in U.S. stock sectors, with funds continuing to flow from tech stocks to value stocks. The market focused on the U.S. Treasury's auction of $42 billion in ten-year bonds on Wednesday, the results of which were not ideal. The pre-issue yield given by the U.S. Treasury was 4.068%, while the post-auction yield was 4.074%, resulting in a tail spread of 0.6 basis points, indicating that investors are demanding higher interest from the U.S. Treasury for financing in an uncertain environment.
On the 12th, #黄金 rose significantly, returning above the $4200 per ounce mark. Due to the recent weak private sector employment data in the United States, market expectations for the Federal Reserve to continue cutting interest rates in December have been heating up, and yields on various maturities of U.S. Treasury bonds have fallen, reducing the holding cost of gold.
#中概股# The Nasdaq China Golden Dragon Index fell by 1.46%, with Alibaba and Baidu down nearly 2%, Xpeng down nearly 3%, and Pinduoduo and JD down nearly 1%. Everyone should remain patient and observe the adjustment situation in this round to avoid being misled by panic selling.