American family wealth climbed to a record high thanks to the rise of the stock market. Driven by the rise of the stock market before the US presidential election, American family wealth reached a record high in the third quarter. According to a report released by the Federal Reserve on Thursday, household net assets increased by nearly 4.8 trillion US dollars, up 2.9% from the previous quarter, reaching 168.8 trillion US dollars. The value of American stock holdings increased by 3.8 trillion US dollars, while the value of real estate decreased by nearly 200 billion US dollars. In the third quarter, investors benefited from the stock market rally, as the market expected the Federal Reserve to cut interest rates and Donald Trump to return to the White House next year. Since Trump won the election on November 5, the S&P 500 index has climbed to a new high due to the market expectation that the president-elect will promulgate a pro-business policy.Italian 10-year bond yields rose 14 basis points to 3.33%.Intel executives: TSMC is the benchmark expected by the industry.
Market News: Texas, USA, announced a draft legislation to establish a strategic bitcoin reserve.ECB sources: Some people think that the ECB overestimates economic growth. In the case of Trump's tariff increase, the economic growth next year may be less than 1%.Apple's self-developed wireless chip will be put into new products released in 2025. It is reported that Apple's self-developed wireless chip will be put into new products released in 2025. The chips of Apple iPhone and home wireless devices are close to switching from Broadcom supply to self-developed products. The internal code of Apple's self-developed wireless chip is Proxima, which will be put into iPad and Mac in 2026.
Reaffirming that the army will be mobilized to expel all illegal immigrants, Trump's latest statement revealed more details. On December 12, local time, US President-elect Trump reiterated in an interview that he plans to use the army to the maximum extent permitted by law and promote large-scale expulsion of illegal immigrants. Trump called illegal immigrants "an invasion of the country" and promised to cooperate with federal resources, including the National Guard, to quickly implement deportation. It is reported that Trump plans to declare a state of emergency, allocate resources to support this action, and may build new facilities to resettle immigrants waiting for repatriation. He also stressed that he hopes to reduce the demand for detention facilities through rapid expulsion. The analysis pointed out that although the National Guard has been used to support border patrols before, including the Democratic and Republican parties, it has not directly participated in immigration law enforcement. This time, the Trump team plans to use the military to provide support in transportation, infrastructure construction and intelligence, but the arrest will be carried out by immigration officials. Trump also suggested in the interview that he would expel all illegal immigrants in the next four years. According to data from the US Department of Homeland Security, as of January 2022, there were about 11 million illegal immigrants in the United States, and this number may increase recently. In this regard, some studies believe that the full implementation of the plan is costly, or it will have a far-reaching impact on industries that rely on immigrant labor. On November 18, local time, US President-elect Trump confirmed on the social media platform that the US military would be mobilized by declaring the country into a state of emergency, thus expelling illegal immigrants from the United States. (CCTV News)Freddie Mac: mortgage interest rates dropped for three weeks to 6.60%.Goldman Sachs analysts predict that the European banking industry will be in a difficult situation in 2025. The challenges they face include low interest rates, slow growth and prominent political uncertainty.