Global News | US stocks rise, European Central Bank fines JPMorgan Chase record high

【U.S. Stock Indices】

On February 20th (Friday), U.S. major stock indices all closed higher, with the S&P 500 up 0.69% at 6909.51 points; the Dow Jones up 0.47% at 49625.97 points; and the Nasdaq up 0.90% at 22886.07 points.

【U.S. Bonds】

On February 20th, the benchmark 10-year U.S. Treasury yield was 4.08%, and the 2-year Treasury yield, most sensitive to Federal Reserve policy rates, was 3.48%.

【Popular U.S. Stocks】

Among popular stocks, Nvidia rose 1.02%, Apple increased 1.54%, Google A gained 4.01%, Google C up 3.74%, Microsoft fell 0.31%, Amazon rose 2.56%, TSMC increased 2.82%, Meta up 1.69%, Tesla up 0.03%, Super Micro Semiconductor down 1.58%, and Intel fell 1.14%.

【Global Indices】

【Chinese Indices】

On February 20th, overnight Hang Seng Tech Index futures fell 3.30%, and Nasdaq China Golden Dragon Index declined 0.05%.

【Chinese Concept Stocks】

In popular Chinese concept stocks, Tencent Holdings (HK) fell 2.06%, Alibaba rose 0.12%, Pinduoduo increased 2.93%, NetEase down 0.63%, Baidu down 0.91%, Ctrip down 1.39%, Li Auto down 0.22%, Xpeng Motors down 0.73%, NIO rose 2.84%.

【Forex and Commodities】

【Global News】

U.S. February S&P Global Manufacturing PMI preliminary at 51.2, expected 52.6, previous 52.4

The U.S. February S&P Global Manufacturing PMI preliminary was 51.2, versus an expected 52.6 and previous 52.4. The February S&P Global Services PMI preliminary was 52.3, versus an expected 53 and previous 52.7.

OpenAI’s smart speaker priced at $200-300 may not ship until February 2027

OpenAI’s smart speaker priced at $200-300 may not ship until February 2027. (Sina Finance)

European Central Bank fines JPMorgan Chase €10 million

On the 19th, the European Central Bank announced an administrative fine of €12.18 million against JPMorgan Chase’s European subsidiary for violating reporting rules and providing false information regarding capital requirements. This is reportedly the highest fine issued by the ECB to date. The ECB stated that from 2019 to 2024, JPMorgan Chase reported risk-weighted assets lower than actual levels due to misclassification of corporate risk exposures over 15 consecutive quarters and using credit risk weights below banking industry standards. Additionally, JPMorgan Chase improperly excluded certain transactions when calculating risk-weighted assets for 21 consecutive quarters. The bank submitted incorrect financial data, preventing the ECB from fully understanding its risk profile. JPMorgan Chase is one of the largest banks in the U.S. A spokesperson for JPMorgan Chase said the company has taken corrective actions and will maintain a “prudent and solid” approach to capital adequacy. (CCTV News)

Tesla reduces price of Cybertruck Cyberbeast version from $115,000 to $99,990

Tesla’s official website shows that the price of the Cybertruck’s Cyberbeast version in the U.S. has been reduced from $115,000 to $99,990. (Cailian Press)

Nvidia close to finalizing $30 billion investment in OpenAI

Nvidia is close to finalizing a $30 billion investment in OpenAI, replacing the $100 billion long-term commitment made between the two companies last year.