On Monday, the three major indices closed higher. During the session, the Dow Jones Industrial Average rose to a record intraday high of 44,815.67 points, and the S&P 500 index climbed to a record intraday high of 6,020.75 points. U.S. markets will be closed on Thursday for the Thanksgiving holiday and will close early on Friday, so trading volumes this week may be light.

[U.S. Stocks] As of the close, the Dow Jones Industrial Average gained 440.06 points, or 0.99%, to 44,736.57; the Nasdaq Composite added 51.18 points, or 0.27%, to 19,054.84; the S&P 500 index rose 18.03 points, or 0.30%, to 5,987.37. Tesla (TSLA.US) fell 3.9%, Nvidia (NVDA.US) dropped 4.1%, and MicroStrategy (MSTR.US) declined 4.3%. The NASDAQ Golden Dragon China Index closed up 0.4%, with iQIYI (IQ.US) surging over 6% and Alibaba (BABA.US) rising nearly 3%.

[European Stocks] The German DAX 30 index increased by 121.26 points, or 0.63%, to 19,427.05; the UK's FTSE 100 index added 27.37 points, or 0.33%, to 8,289.45; the French CAC 40 index edged up by 2.46 points, or 0.03%, to 7,257.47; the EURO STOXX 50 index rose by 10.27 points, or 0.21%, to 4,799.35; the Spanish IBEX 35 index gained 66.15 points, or 0.57%, to 11,722.75; the Italian FTSE MIB index fell 79.83 points, or 0.24%, to 33,415.00.

[Asia-Pacific Stocks] The Nikkei 225 index rose by 1.3%, the Jakarta Composite Index in Indonesia climbed by 1.65%, and South Korea's KOSPI index gained 1.39%.

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[Cryptocurrencies] Bitcoin retreated to $94,000 per coin, with a total of $27.985 million in cryptocurrency liquidations across the network in the past hour; over the last 24 hours, 157,061 individuals have been liquidated, with a total liquidated amount of $457 million.

[Gold] Spot gold fell by 3.33% to $2,625.82 per ounce, trading in a downward trend throughout the day, with the majority of the time in a decline, ranging from $2,721.41 to $2,615.68. COMEX gold futures dropped by 3.13% to $2,627.40 per ounce.

[Oil] The price of West Texas Intermediate (WTI) crude oil futures for January delivery on the New York Mercantile Exchange fell by $2.30, or 3.23%, to close at $68.94 per barrel.

[Metals] LME copper futures closed up $78 at $9,046 per ton. LME aluminum futures rose by $28 to $2,652 per ton. LME zinc futures gained $54 to $3,020 per ton. LME lead futures increased by $7 to $2,029 per ton. LME nickel futures jumped by $233 to $16,203 per ton. LME tin futures added $62 to $28,976 per ton. LME cobalt futures remained flat at $24,300 per ton.

[Macro News]

Chicago Fed President Goolsbee Advocates for Further Rate Cuts Unless Signs of Economic Overheating Emerge. Chicago Fed President Goolsbee stated that he anticipates the central bank will continue to lower interest rates towards a stance that neither restrains nor stimulates economic activity. "Unless there is compelling evidence of economic overheating, I see no reason not to continue to lower the federal funds rate," Goolsbee said in an interview on Monday, referring to the central bank's benchmark interest rate. "The pace of action will depend on the outlook and conditions," Goolsbee added. "But it is quite clear to me that we are on a path of rate decreases, closer to a neutral level."

U.S. Media: Treasury Secretary Nominee Benton's Core Agenda is "3/3/3". AXIOS analyzes U.S. Treasury Secretary nominee Scott Benton's core economic agenda of the "3/3/3" policy approach, which aims to reduce the budget deficit to 3% of GDP, achieve a 3% annual economic growth rate, and increase domestic oil production by 3 million barrels per day. Currently, the U.S. deficit is expected to remain between 6% and 7% of GDP in the coming years, forming a spiraling trend that could bring the risk of significant interest rate increases, thus the first agenda item would satisfy "deficit hawks". Regarding the second agenda item, the U.S. has achieved around 3% growth for a long period in its history, but this goal may conflict with policies restricting immigration. For the third agenda item, with U.S. oil production already around 13 million barrels per day and a market oversupplied, energy executives have questioned the geological feasibility of further significant increases in production.

Dallas Fed: Several Markets Including Consumer Goods, Communications, and Computers Have Bottomed Out, with a Bright Outlook for the Machinery Manufacturing Industry. A report from the Dallas Fed points out that global industrial demand for chemicals remains stable but at a lower level. The outlook for the next six months is for a very gradual improvement, but the outlook is uncertain due to tariff risks and potential impacts on global demand. Several markets, including consumer goods, communications, and computers, have bottomed out. The automotive and industrial markets remain uncertain, but the industrial market is closer to the bottom. The machinery manufacturing industry still has some difficulties to overcome in the short term, but many areas of the market have a bright outlook in the long run.

Tailoring to Different Investors, Wall Street Prepares to Launch a New Generation of Cryptocurrency-Related ETFs. In this $3.2 trillion industry, Wall Street is preparing to launch a new generation of risk products to cater to the tastes of all types of investors, from institutional novices to die-hard retail traders. Executives and lawyers involved in ETFs have said that the products they describe include both defensive ETFs aimed at professional fund managers curious about cryptocurrencies, as well as full-speculation bets aimed at those who call themselves fallen gamblers. Industry investors and lawyers have said that higher-risk cryptocurrency ETFs may focus on various digital tokens, sometimes using leverage, options, or quantitative strategies.

[Individual Stock News]

Buffett to Convert Part of Berkshire Hathaway (BRK.A.US, BRK.B.US) Holdings to Donate to Four Family Foundations. Berkshire Hathaway announced on November 25th that Buffett will convert 1,600 Class A shares into 2.4 million Class B shares to donate the Class B shares to four family foundations. Approximately 1.5 million Class B shares will be given to the Susan Thompson Buffett Foundation, while 300,000 Class B shares will be given to the Sherwood Foundation, the Howard G. Buffett Foundation, and the Novo Foundation, respectively. "After today's gift, the number of Berkshire Hathaway Class A shares I hold has decreased to 206,363, a 56.6% reduction from when I committed in 2006," said Buffett. Buffett also stated that his children will be fully responsible for gradually distributing all of his Berkshire Hathaway holdings after his passing.

California Proposes Electric Vehicle Purchase Subsidies, Excluding Tesla (TSLA.US). The Governor of California is proposing to offer consumer purchase incentives for electric vehicles, excluding Tesla's electric cars. The state legislators' decision aims to promote competition, which may anger Elon Musk. California Governor Gavin Newsom announced on Monday that if a federal subsidy is repealed next year, California plans to offer incentives to electric vehicle buyers. Newsom, a well-known Democrat who often criticizes Republican propositions, said in a statement that a plan California is phasing out in 2023 may be revived to alleviate the burden on car buyers, replacing the intended cancellation of a $7,500 tax credit. The governor's office said the current proposal covers market share limits that would exclude Tesla's best-selling electric vehicle models. Details will be negotiated with the state legislature and may be adjusted.

MicroStrategy (MSTR.US) Accumulates a Record $5.4 Billion in Bitcoin. MicroStrategy has accumulated approximately $5.4 billion in Bitcoin, marking the largest scale of Bitcoin purchase transactions since the company first began acquiring Bitcoin over four years ago. The company said on Monday that it purchased 55,500 Bitcoins in cash last week, at an average price of $97,862 per Bitcoin (including fees and expenses). The company now holds about 386,700 Bitcoins, valued at nearly $38 billion. Last week, the company sold $3 billion in convertible bonds to buy more Bitcoin and issued nearly $2.5 billion in stock.