Why it pumped yesterday is something you must know; only then can you see the future clearly.

1. The frenzy of large tech companies and AI
Google's Gemini 3 is like the innovation at the launch of ChatGPT. $G00GL led the market to rise significantly, and Elon Musk of Tesla also propelled a substantial rebound in Nasdaq with his remarks about "producing more AI chips than all other car manufacturers combined."

2. "Dependence on the Federal Reserve"
During the last FOMC meeting, the possibility of a rate cut was discussed by Jerome.
Powell's remarks conveyed the message that "interest rate cuts are not a given," causing turmoil in the market and reducing the likelihood of a rate cut to about 20%.
But today, due to the remarks made by the President of the New York Federal Reserve,
The possibility of interest rate cuts in December has risen to 80% again.
The market rebound today is [the interest rate cut expectation has been reflected in].
The current market is "dependent on the Federal Reserve"; simply put, it is about "watching the level of interest rates."

The company's performance or fundamentals are not as good as
The phenomenon of "the price of capital" being more important continues to exist.
The phenomenon of stagnation is still ongoing.
Even with rising unemployment rates, shrinking consumption, and other economic downturns, as long as the Federal Reserve says "cut interest rates," asset prices will continue to rise.
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