Jin10 roundup: US nonfarm payrolls beat expectations; State Council executive meeting sets out market stabilization measures

TechFlow news, November 7: According to Jin10 Data, the November 7 roundup of key news from yesterday and this morning shows that the US October nonfarm payrolls data significantly exceeded expectations, and markets increased bets on a December Federal Reserve rate hike; the State Council executive meeting proposed improving market stabilization mechanisms for the capital market.

The Shenzhen Stock Exchange revised the ChiNext Index compilation methodology, gradually adjusting the weight cap for a single constituent stock to 15%; six top brokerages completed swap facility operations and implemented first stock investments. Reports say Microsoft is gradually terminating its AI compute rental agreements with Oracle, and TSMC plans to deploy 3D DRAM at Nvidia's request.

On the international front, Trump announced the appointment of Stephen Miller as the new White House chief of staff; Saudi Arabia cut its December crude oil selling prices to Asia to a six-year low; Kazakhstan plans to reduce the gold share of its reserves to below 75% in the medium term. Fed official Daly said the Fed is ready to hike rates further if necessary, while Williams said inflation levels are too high.

Source: TechFlow