On Wednesday, the US stock market continued its upward momentum, with the three major indices advancing together. The Dow Jones Industrial Average rose by 0.60%, the S&P 500 increased by 0.32%, and the Nasdaq gained a slight 0.22%. Notably, both the Dow and the S&P 500 hit new all-time closing records.

As the traditional US holidays approach, trading hours are shortened, and market participation has noticeably declined. However, this has not affected market sentiment recovery. The VIX fear index, which reflects market risk expectations, dropped to a one-year low, indicating that investors' concerns over short-term risk events have been significantly alleviated.

Expectations of interest rate cuts continue to support the market. It is widely anticipated that the Federal Reserve will cut rates at least twice next year, driving gains in cyclical sectors such as real estate and finance.

The commodity market shows a divided picture. Gold futures slightly declined, closing at $4,502.8 per ounce, a decrease of only 0.06%. In contrast, silver performed more strongly, with March 2024 silver futures reaching a new high, closing at $71.685 per ounce, up 0.77%. Industry analysts believe that the rise in silver is driven by expectations of Fed rate cuts, increased industrial demand, and rising investment demand. However, some caution that the rapid increase in silver prices is accompanied by significant speculative funds, and investors should be alert to potential sharp short-term corrections.

In the Chinese concept stock sector, the Nasdaq Golden Dragon China Index slightly declined by 0.07%. Individual stocks showed mixed performance, with Pinduoduo leading the gains at 1.23%, Li Auto up 0.54%, and NIO and JD.com rising by 0.41% and 0.31%, respectively.