CBS: U.S. Treasury Secretary and Trump Once Had Heated Debate on Tariff Policy

Overnight to early this morning, Anthropic filed for an IPO, reigniting short-term AI hype in the market. The Philadelphia Semiconductor Index rose around 3% in a single day, driving the S&P 500 up 0.70% and the Nasdaq up 0.82%, both ending their two-day losing streak. On the other hand, ahead of the Federal Reserve's policy decision, the U.S. Treasury market remained calm. Oil prices edged lower, but Middle East risk premiums persisted. Additionally, market turmoil in Brazil has drawn global attention. With Lula's surprise election victory, Brazil's stock market, bonds, and the real all slumped simultaneously; multiple stocks dropped over 30% in a single session, with some falling more than 50%. Investors worry the new government will expand fiscal spending, stoking inflation expectations, leading to a sharp spike in Brazil's 5-year credit default swap (CDS) spreads. For equities, per data from BIT Stock Platform, star stock Nvidia rose 2.4%, Micron gained 2.98%. CoreWeave reversed its pre-market decline to close up 1.76%. The optical communications sector stayed strong: LITE rose over 8%, AAOI over 6%. Neocloud, which was bearish on by Musk, showed relative resilience; only NBIS fell 3.48%, while other major stocks closed higher. The storage sector was flat: SNDK rose 1.42%. Crypto-related stocks fell broadly: MSTR dropped 4.21%, the previously standout NEAR Treasury Company fell 10.48%, BMNR down 6.52%, CRCL down 7.07%. Separately, per HTX market data, ahead of the Federal Reserve's interest rate decision, market sentiment was cautious, with Bitcoin trading in the $80,000 range, currently at $80,094.20.

According to a report by The New York Times on the evening of the 26th Beijing time, as widespread concerns mount that the U.S. and Israel may soon launch a new round of strikes against Iran, senior representatives from Saudi Arabia, Turkey and Pakistan held talks with Iranian officials in Tehran on Monday. The visit is the latest step in a series of intense diplomatic efforts by regional mediators in recent times. Gulf officials said Monday’s talks aim to support the mediation work of Qatar and Pakistan, with the goal of urging Iran to demonstrate sufficient flexibility to reach a diplomatic solution with the U.S. Two diplomats noted that Qatari mediators have been pushing for a U.S.-Iran agreement under which both sides will make a series of concessions within five days. Under part of the proposed concession terms, Iran will reopen the Strait of Hormuz to allow commercial vessels to transit, while the U.S. will lift its naval blockade on Iranian ports. The main obstacle to reaching an agreement is determining the timing of each side’s respective concessions. They added that mediators have been pressing Iran to make concessions on its nuclear program in the early phase of the agreement’s implementation.

Intel has announced the acquisition of Israeli quantum computing startup Classiq, with the transaction expected to be completed in the first half of 2027. The deal will integrate Classiq’s quantum algorithm software platform with Intel’s silicon-based qubit hardware capabilities to build a full-stack quantum computing business spanning both hardware and software, filling Intel’s gap in quantum software. CEO Chen Liwu stated that the merger will transform Intel’s quantum computing division into a "full-stack quantum computing business".

U.S. President Donald Trump stated, "In my view, the Brazilian election is very bad—it looks like another rigged election." Earlier news reported that Luiz Inácio Lula da Silva unexpectedly won Brazil’s presidential election, triggering a sharp repricing of Brazilian assets: the benchmark stock index plummeted by double digits, the local currency real recorded its largest decline since the start of the 21st century, and the market’s deep-seated concerns over fiscal discipline and state-owned enterprise governance flared up.

OpenAI announced that its AI model has achieved three major breakthroughs in mathematics, computer science, and physics, demonstrating AI’s capability to independently discover and prove complex scientific theories rather than merely answering questions or assisting research. In mathematics, the AI proved the local smoothing conjecture (applicable to all dimensions, which studies how long energy concentration persists in phenomena like waves) and thereby resolved the Kakeya conjecture (on the minimum space required for a needle to turn in all directions within a limited space) and the Stein restriction conjecture (a mathematical problem concerning complex wave patterns). In computer science, the AI overturned the long-accepted exponential time hypothesis, which posits that certain complex computational problems inevitably see their workload grow sharply with scale, suggesting faster algorithms may be developed in the future. In physics, the AI put forward a rigorous mathematical existence proof for quantum chromodynamics (the theory explaining how quarks combine to form protons, neutrons and other particles) and Yang-Mills theory (the mathematical framework describing forces between fundamental particles), involving one of the seven Millennium Prize Problems. OpenAI stated that the mathematics and computer science results have undergone formal verification via the Lean mathematical tool, with proof materials released publicly; the physics findings are currently under review by experts including Nobel Prize-winning physicists. The related results still require further independent confirmation from the academic community.

According to BIT (Bit.com) market data, Apple’s U.S. stock is currently down 1.02%, with its market capitalization temporarily standing at $5.02 trillion. Apple stated in a post that it has noticed internal screen defects on a small number of iPhone Duo units, advising users to contact AppleCare for a replacement. Apple’s first foldable iPhone, the iPhone Duo, has seen consecutive screen damage issues near the hinge since its launch in major markets on October 23. Photos uploaded by users show that some devices have white, ray-like cracks starting from the hinge center and extending to the lower right of the screen. Industry insiders believe the defects, concentrated at the same hinge location, may be related to hinge design, and Apple may have to redesign the relevant structure. Reports indicate Apple faced hinge supply issues during the R&D phase. Its original primary supplier, U.S.-based Amphenol, was replaced by Taiwan’s Xinrixing due to lower-than-expected production yield, but the latter also encountered manufacturing difficulties and had to supply only "golden samples" that met standards. Apple previously stated the iPhone Duo’s hinge includes over 100 components and uses a 3D-printed hinge module. Since the product has entered mass production, Apple may need to resolve the defects by reducing hinge components and other methods while minimizing design changes. Reports note the hinge issues could impact product delivery and sales performance. Apple’s expected supply to suppliers shows that as of the end of this year, the component supply corresponding to the iPhone Duo’s full production capacity is about 6 million units. According to another report, component supplier Fine M-Tec has stated that recent quality issues with related products are unrelated to the assembly of its supplied components.