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US stocks close | US PCE inflation cools down, S&P Nasdaq falls but Dow hits new high; China concept index surges 24% for the whole week, jd.com hits fourteen-month high.
US PCE inflation cooling solidifies the confidence of the Fed in rate cuts, but US stocks fell in the afternoon, with nvidia dropping nearly 4% at one point. China's stimulus policies drove the Chinese concept index up by 4%, nio inc rose by nearly 13%, pan-European stock indexes and German stocks hit new highs for two consecutive days, luxury goods stocks rose again. The Dow, S&P, and Nasdaq have all risen for three consecutive weeks, with two China-focused ETFs achieving the best weekly gains in history.
European luxury goods concept stocks saw the largest weekly increase since 2012.
On Friday, September 27, the personal and household products index of the STOXX 600 index rose by 1.77%, marking a fifth consecutive trading day increase, with a total surge of 9.38% for the week. Data shows that among the component stocks, Henkel rose by 10.91% on Friday, Beiersdorf by 6.96%, Yunji Group by 6.34%, Ubisoft Entertainment by 5.94%, and Hugo Boss by 5.45% ranking fifth in performance, while LVMH Group rose by 3.67% ranking ninth in terms of increase. Meanwhile, L'Oreal dropped by 0.66%, marking the largest decrease among the three component stocks that fell. Among the "EU Eleven Heavenly Kings," Novo-Nordisk A/S dropped by 4.59%, while L'Oreal...