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

【U.S. Stock Indices】

On February 20th, Eastern Time (Friday), the three major U.S. stock indices all closed higher, with the S&P 500 up 0.69% at 6909.51 points; the Dow Jones Industrial Average up 0.47% at 49625.97 points; and the Nasdaq Composite 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 U.S. Treasury yield, which is most sensitive to Federal Reserve policy rates, was 3.48%.

【Popular U.S. Stocks】

Among popular U.S. stocks, Nvidia rose 1.02%, Apple increased 1.54%, Google A rose 4.01%, Google C rose 3.74%, Microsoft fell 0.31%, Amazon gained 2.56%, TSMC rose 2.82%, Meta increased 1.69%, Tesla rose 0.03%, Seagate Technology declined 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 declined 0.63%, Baidu fell 0.91%, Ctrip dropped 1.39%, Li Auto decreased 0.22%, Xpeng Motors declined 0.73%, NIO rose 2.84%.

【Forex and Commodities】

【Global News】

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

OpenAI’s smart speaker priced at $200-$300 is expected to ship no earlier than February 2027. (Sina Finance)

The European Central Bank announced a €12.18 million fine on JPMorgan Chase’s European subsidiary for violating reporting rules and providing false information regarding capital requirements. This is reportedly the largest fine issued by the ECB to date. The ECB stated that from 2019 to 2024, JPMorgan reported risk-weighted assets lower than actual levels due to misclassification of corporate risk exposures over 15 consecutive quarters and using lower credit risk weights than banking industry standards. Additionally, JPMorgan 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 said the company has taken corrective actions and will maintain a “prudent and solid” approach to capital adequacy. (CCTV News)

Tesla has reduced the price of its electric pickup truck Cybertruck’s Cyberbeast version from $115,000 to $99,990. (Cailian Press)

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.