On October 4, local time, the three major U.S. stock indexes came out of the bottoming out and rebounded, all rising at the close, with the Nasdaq index rising more than 1% and the Dow Jones Industrial Index hitting a record high. The Nasdaq China Golden Dragon Index closed up more than 3% and has risen nearly 12% this week, closing above the 8,000-point mark for the first time since February 1, 2023.
In terms of individual stocks, airline stock Spirit Airlines plunged nearly 25% to close at a record low on the news that the company was discussing the terms of a potential bankruptcy filing with bondholders; Meta, Facebook's parent company, announced the creation of a new artificial intelligence model, Movie Gen, and its stock price hit an all-time high. Among the Chinese concept stocks, George Chanson rose 387.17%, leading the rise of Chinese concept stocks.
Meta announces new AI models
The stock price hit an all-time high
On October 4, local time, the three major U.S. stock indexes came out of the bottoming out and rebounded. At the close, the Dow rose 0.81% to 42,352.75, the S&P 500 rose 0.90% to 5,751.07 and the Nasdaq rose 1.22% to 18,137.85, according to Wind data. For the week, the Dow rose 0.09%, the S&P 500 rose 0.22%, and the NASDAQ rose 0.10%.
On the market, U.S. airline stocks and chip stocks performed well, while bank stocks and energy stocks mostly rose.
Among individual stocks, Meta, the parent company of Facebook, opened higher, with its shares rising as high as $596.85, a record high, and closed up 2.26% at a record high of $595.94, with a total market capitalization of $1.51 trillion.
On the news front, the company announced that it has built a new AI model called Movie Gen that can create photorealistic video and audio clips based on user prompts, claiming that it can rival tools from leading media generation startups like OpenAI and ElevenLabs. According to Meta, Movie Gen can also generate background music and sound effects that are synced with video content, and use the tool to edit existing videos.
Shares of Spirit Airlines fell sharply, falling more than 37% at one point during the session and closing down nearly 25% to close at a record low.
On the news, Spirit Airlines is discussing the terms of a potential bankruptcy filing with bondholders after the merger with JetBlue failed. The company's chief executive officer, Ted Christie, said talks were underway with advisers to bondholders to resolve the debt maturing in 2025 and 2026. Spirit Airlines has not been profitable in five of the last six quarters, raising doubts about its ability to pay its debts.
The Nasdaq China Golden Dragon Index rose nearly 12% for the week
On October 4, local time, Chinese concept stocks continued to strengthen in the U.S. stock market.
According to Wind data, as of the close, the Nasdaq China Golden Dragon Index rose more than 3%, up nearly 12% for the week and rose for four consecutive weeks, closing above 8,000 points for the first time since February 1, 2023.
On October 4, the second day of listing, the China Dragon ETF closed up 1.95%. It is worth mentioning that the ETF rose nearly 13% at one point during the pre-market trading session.
Among other ETFs related to Chinese assets, the China Technology Index ETF closed up 5.7%, up 20.30% this week, continuing last week's 23.25% gain; China Internet Index ETF closed up 3.30%, up 13.2% this week, continuing last week's 26.79% gain; FTSE China 3x Long ETF rose nearly 11%, up 35.22% this week, continuing last week's 59.50% gain; The FTSE China 3x Short ETF fell nearly 10%.
Among the Chinese concept stocks, 35 stocks closed up more than 10%. Among them, the share price of George Chanson rose 387.17% overnight, leading the rise of Chinese concept stocks. The company recently announced that due to the additional issuance, the company's share capital increased by 8.9803 million shares to 21.4056 million shares.
The first day of the flash United States IPO opened flat, and it rose strongly during the session, rising more than 33% at one point and closing with a 9.15% increase. The circuit breaker was triggered due to excessive volatility in the flash transfer disk.
The Houthis said that the United States and Britain launched air strikes in many parts of Yemen
According to CCTV News, on the 4th local time, the Houthi forces in Yemen issued a statement saying that the US-British coalition launched multiple air strikes on Sana'a, the capital of Yemen, Hodeidah Province and other places on the same day. The United States military confirmed attacks on 15 targets in Houthi-controlled areas of Yemen that day. So far, the Houthis have not announced casualties.
On the night of 4 October, 15 airstrikes were carried out on four regions of Yemen. Residents' residential and recreational areas have been affected, causing strong panic among the local population, including women and children.
On the same day, the US-British coalition launched four airstrikes on Sana'a, the capital of Yemen, seven airstrikes on Hodeidah province including Hodeidah airport, three airstrikes on Bayda province, and one airstrike on Zamar province.
The Houthis said that the US and British air strikes would not stop their determination to continue resisting, and that the Houthis would continue to carry out military operations until Israel ended its aggression against the Gaza Strip and Lebanon.
United States Central Command said on the 4th that it had carried out attacks on 15 targets in areas controlled by the Houthis in Yemen. These targets include military offensive facilities such as their weapons systems.
(The picture of this article comes from Wind)