The circuit breaker was triggered late at night.
On Monday, October 20th local time, all three major U.S. stock indexes rose sharply. At the close, the Dow Jones Industrial Average rose 1.12%, the S&P 500 rose 1.07%, and the Nasdaq Composite rose 1.37%. Apple... Technology stocks led the gains. This week, investors are closely watching earnings reports and inflation data from several well-known companies.
In terms of popular stocks, Guangzhou Shipyard International Technology... Shares of GSIT surged on Monday, triggering multiple trading halts during the session. At the close, the stock stood at $12.97 per share, a gain of 155.31%. The stock continued to rise in after-hours trading; as of press time, Guangzhou Shipyard International Technology Co., Ltd. was up over 10%.
US stocks closed higher across the board.
U.S. stocks closed higher on Monday, with all three major indexes rising more than 1%. At the close, the Dow Jones Industrial Average rose 515.97 points, or 1.12%, to 46,706.58; the S&P 500 rose 71.12 points, or 1.07%, to 6,735.13; and the Nasdaq Composite rose 310.57 points, or 1.37%, to 22,990.54.
Major tech stocks rose across the board, with AMD leading the gains. On Semiconductor rose more than 5%. Apple rose nearly 4%, hitting a new all-time high; AMD rose over 3%, hitting a new all-time high; Netflix... Intel rose more than 3%. Meta, Micron Technology Tesla shares rose more than 2%. Google, Amazon Microsoft rose more than 1%. Slight increase; Nvidia Slight decline.
Apple 's stock price hit a new high for 2025 on Monday, rising as high as $264.375 per share, breaking its all-time high since last December. Apple's total market capitalization reached $3.89 trillion, making it the second-largest company by market capitalization in the United States, surpassing Microsoft and second only to Nvidia .
For most of the year, Apple underperformed among S&P 500 stocks, falling as much as 31% in April. But since then, its stock price has risen by more than 50%, returning to above its year-end closing level in late September.
There are signs that consumer demand for the new generation of iPhones is stronger than expected, and market expectations for the start of a replacement cycle are rising. According to an analysis released by Counterpoint Research over the weekend, sales of the iPhone 17 series in the first 10 days after its launch increased by 14% compared to the same period of the iPhone 16.
Loop Capital upgraded its rating to "buy" from "hold," becoming the latest investment bank to be bullish on iPhone demand trends. Analyst Ananda Baruah wrote in her upgrade report, "We stand at the start of a long-awaited Apple device upgrade cycle, with the new design cycle stimulating replacement demand." She also raised her price target to $315, the highest level expected by Wall Street, implying approximately 25% upside from Friday's closing price.
However, not everyone believes that the initial hype surrounding the iPhone 17 is enough to support Apple's current valuation. In terms of analyst recommendations, Apple is still less favored than other tech giants. Even after Loop upgraded its rating, only 58% of the analysts tracked by Bloomberg gave the stock a "buy" rating, a percentage higher only than Tesla among the "Big Seven."
Amazon 's cloud service AWS suffered a massive outage on Monday, affecting companies including Snap (SNAP.US), Reddit (RDDT.US), Venmo, and Duolingo . Thousands of websites and popular apps, including DUOL.US, Coinbase (COIN.US), and Robinhood (HOOD.US), are unusable, disrupting business operations in many parts of the world.
This follows last year's CrowdStrike (CRWD.US) incident, which resulted in damage to hospitals and banks. This is the worst internet infrastructure outage since the airport system crash, highlighting the risk of global digital services being heavily reliant on a few cloud service providers.
As of 1 a.m. Beijing time, some services have begun to gradually recover, but AWS acknowledges that many cloud services still have a "high error rate," including compute services such as Lambda that are still experiencing anomalies due to internal subsystem failures.
Popular Chinese concept stocks generally rose, Nasdaq The China Golden Dragon Index (HXC) closed up 2.39%. (Baozun e-commerce platform) iQiyi rose more than 11%. NIO shares rose more than 8%. Kingsoft Cloud rose nearly 5%. Alibaba rose more than 4%. Bilibili rose nearly 4%. Baidu XPeng Motors rose nearly 2%. Li Auto shares rose more than 1%. Slight increase.
Gold and silver futures surge
International Precious Metals Futures generally closed higher, with COMEX gold futures rising 3.82% to $4,374.30 per ounce and COMEX silver futures rising 2.59% to $51.40 per ounce. The US government shutdown and expectations of a Federal Reserve interest rate cut increased gold's safe-haven appeal, while the EU's shift in energy policy exacerbated inflation expectations, and central banks around the world continued to increase their gold reserves.
According to the CME FedWatch tool, the probability of the Federal Reserve cutting interest rates by 25 basis points in October is 99.4%, while the probability of keeping rates unchanged is 0.6%. The probability of the Federal Reserve cutting interest rates by a cumulative 50 basis points in December is 98.6%, and the probability of cutting rates by a cumulative 75 basis points is 0.9%.
The US Senate failed to pass the appropriations bill in its 11th vote, and the government shutdown continues.
According to CCTV News, on October 20 local time, the U.S. Senate voted on the government funding bill for the 11th time, but it failed to pass. As a result, the U.S. government shutdown that began on October 1 continues.
The bill, which originally planned to extend government funding until November 21, ultimately failed to reach the 60-vote threshold required for passage, with 50 votes in favor and 43 against.
Due to significant disagreements between the Republican and Democratic parties on core issues such as healthcare spending, the Senate failed to pass a new temporary funding bill before the end of the previous fiscal year on September 30, leading to the depletion of funds to maintain normal federal government operations and a shutdown that began on October 1.
(Source: Securities Times) (Times)
