News

The NI225 closed up 1,340.73 points, or 2.33%, at 58,775.50 on Monday, November 9.

TASS, citing the Russian Foreign Ministry, reported that the "diesel agreement" provides an opportunity for the gradual resumption of commercial exchanges between Russia and the United States.

The Iranian news agency IRNA reported that the Democratic Party's control of the US Congress paves the way for Israeli Prime Minister Benjamin Netanyahu's trial. While this doesn't mean Washington will stop supporting Israel, it could pose new challenges to Tel Aviv's political landscape. From increasing pressure to limit military aid and curb the Trump administration's war policy against Iran, to further criticism of settlement construction and the Gaza war, the new US Congress has increased the political cost of the Netanyahu government, prompting Eisenkert to become President Herzog's nominee for the Israeli government; this shift will also influence Israel's future power structure.

In an interview with TechCrunch, Jeffrey Sonnenfeld, a professor at Yale School of Management and founder of the Yale Institute for CEO Leadership, stated that Jensen Huang's chances of continuing as Nvidia CEO are approximately 50%. Sonnenfeld believes that Huang's recent admission of infidelity and apology to his family, employees, and board has escalated into a matter of corporate governance and leadership reputation, potentially undermining employee trust in his leadership abilities. He characterized the incident as a misjudgment and noted that Nvidia's board has launched an independent investigation. Although the board has stated that Huang will continue as CEO and cooperate with the investigation, the investigation's findings and subsequent governance arrangements could still affect his position. Sonnenfeld also suggested a possibility: Huang could retain the CEO title but gradually delegate some day-to-day management responsibilities to other executives. Nvidia has not yet announced a succession plan. Given Huang's long-standing leadership in the company's strategy, product roadmap, and organizational management, the stability of his position is also crucial to Nvidia's future management succession and decision-making continuity.

According to RIA Novosti, citing the Russian Ministry of Defense, Russian forces attacked a substation in the Kyiv region.

According to Interfax news agency: Russia hit a ship in the Black Sea.

China Passenger Car Association: Tesla (TSLA.O) exported 59,012 vehicles made in China in October.

Australia's S&P/ASX 200 index closed up 32.20 points, or 0.36%, at 9053.00 on Monday, November 9.

The Islamic Republic News Agency (IRNA), citing a report from Russian media outlet RT, stated that Russia's formal reception of Major General Mohsen Rezaei, Secretary of Iran's Supreme National Security Council, and its arrangement for a meeting between Rezaei and Russian President Vladimir Putin to convey a message from Iran's Supreme Leader, sends a clear signal: Russia will not sacrifice its relationship with Tehran to appease the White House. The report also stated that Russia possesses the tools necessary to facilitate an agreement and can help Tehran and Washington reach a mutually beneficial deal.

The China Earthquake Networks Center officially reported that a 5.7-magnitude earthquake occurred at 12:52 p.m. on November 9 in the sea area near eastern Honshu, Japan, with a focal depth of 10 kilometers.

Nvidia, Rebellions, and SK Telecom announced a collaboration to advance the construction of sovereign AI infrastructure using Nvidia's NVLink Fusion.

Iranian provincial officials told Fars News Agency that the US nighttime attack on Qeshm Island did not affect critical infrastructure and services.

According to Israel Broadcasting Corporation: Israeli and U.S. military officers support military action against Iran. Israeli officials stated that further strikes against Iran would weaken its military capabilities.

According to Iran's Labor News Agency (ILNA), Israeli media reports that senior officials in Tel Aviv and Washington are pressuring US President Trump to launch a new round of attacks on Iran, as the US Secretary of State acknowledges that diplomatic efforts to end the war with Iran have made little progress. A decision could be made within the next two months.

According to a breaking news report from Insider Wire, Republican Senator Dave McCormick opposes John Thune's re-election as Senate Republican Leader. Thune has previously stated that he will seek re-election as party leader even if the Republican Party loses control of the Senate in the midterm elections. Republican senators are scheduled to hold a closed-door vote on November 10 to elect the next caucus leader. If McCormick's opposition is confirmed, it will add new obstacles to Thune's re-election bid.

South Korea's Finance Minister stated that the $10 billion remittance to the US nuclear power project will only proceed after the commercial feasibility review is fully completed. The remittance to the US for the nuclear project is still in its preliminary stages and will be carefully reviewed.

Semiconductor stock valuations have declined significantly, but low price-to-earnings ratios do not necessarily mean cheap. The combined profits of the world's top ten semiconductor companies rose from approximately $75 billion in 2023 to $169 billion in 2024, and are projected to reach $289 billion in 2025, representing a year-on-year increase of approximately 71%, nearly 2.9 times the original amount in two years. Meanwhile, Yardeni data shows that as of November 6th, the forward price-to-earnings ratio of the S&P 500 semiconductor sector index fell to 13.1 times, lower than the S&P 500 index's 18.7 times. The semiconductor industry exhibits a clear cyclical pattern; historically, profit peaks in 2000, 2018, and 2021 were followed by declines. When profits are at a cyclical high, the price-to-earnings ratio appears cheap due to the inflated profit denominator; once profits return to normal, the current low valuation may quickly disappear.

According to platform quotes, Nvidia perpetual futures prices have fallen by about 3%.

The underlying reason for the recent sell-off in US stocks is market concerns that AI capital expenditure growth may have peaked. Amazon, Google, Meta, Microsoft, and Oracle are expected to slow their capital expenditure growth over the next two years, with the 2028 growth forecast dropping from 18% to 9% in the past two months. AI investment, which had accelerated for several years, is now facing uncertainty about a growth inflection point. This change may spread along the industry chain: reduced new investments by cloud vendors will directly impact the revenue and profit expectations of chip suppliers like Nvidia, as well as data center construction and power equipment companies. Meanwhile, except for Microsoft, the cash flow of other major cloud vendors has been squeezed by AI construction spending, and some companies have begun to raise funds through stock and bond issuances. Rising US interest rates and stricter data center approvals after the midterm elections have further increased investment uncertainty. Goldman Sachs estimates that potential state and local construction halts could affect 45% of planned data center capacity in the US.

The yield on Japan's 5-year government bond rose 7.0 basis points to 2.115%.