S&P 500 index erases its opening gains, Nvidia turns lower, down 1.3%

Boston Federal Reserve Chair Collins hinted on Friday that tighter monetary policy may be needed to cool prices. In a speech centered on the housing market, Collins noted that higher interest rates could restrict housing affordability, but added that ensuring price stability will benefit both the housing market and the broader economy in the long term. "In the short term, the elevated interest rates sometimes required to cool the economy and curb inflation may raise the cost of buying and building homes," Collins said in her prepared remarks. "But in the long run, stable prices foster a predictable economic environment that benefits the housing market."

Dallas Fed President Lorie Logan said during a speech at the Dallas Fed's Bank Funding Conference on Friday that despite several rounds of interest rate fluctuations, the U.S. Treasury market is functioning "very well" and banks have improved their ability to access emergency funding over the past three years. That said, the Federal Reserve should take steps to strengthen its support tools in both areas. "Especially in an economic environment where it appears necessary to tighten policy, I think it would be prudent for the FOMC to strengthen its tools to support market functioning without providing unnecessary economic stimulus," Logan said.

According to data from the BIT Stock Platform, the Philadelphia Semiconductor Index fell more than 3%. Among its constituent stocks, AMD dropped over 6%, while Coherent, Broadcom, and Marvell Technology each declined around 5%. Intel fell more than 3%, and NVIDIA fell over 2%.

According to CNBC, Jensen Huang stepping down as NVIDIA CEO, combined with the Democrats winning control of both chambers of Congress in the U.S. midterm elections, may make corporate executives more cautious about publicly aligning themselves with the White House. CNBC reporter Steve Liesman argues that corporate direct involvement in policy-making could narrow, and large tech firms may face stricter congressional scrutiny and regulatory pressure. Midterm election surveys show 90% of surveyed voters view corruption as a key or major issue influencing their votes, one percentage point higher than the share citing the cost of living. Another pre-election survey found 93% of respondents oppose elected officials including the president and members of Congress holding or trading stocks of federal government contractors, while 89% object to the president’s family members securing government contracts. Liesman cites NVIDIA as an example, noting the firm once donated alongside other large corporations to the White House Ballroom project. This controversy has drawn increased attention to the relationship between tech executives and the White House, as well as corporate influence over chip export policies. Democratic Senator Elizabeth Warren has called on Congress to pass bipartisan bills including the AI Overwatch Act to restrict China’s access to advanced U.S. AI technology. Warren argues that large tech company CEOs cannot be relied on to prioritize national security over corporate profits. However, even with control of both chambers of Congress, Democrats may not secure the votes needed to override a presidential veto. Liesman suggests a more imminent shift could be corporate executives voluntarily scaling back public outreach to the White House; some Republican lawmakers from swing states may also cooperate with Democrats on issues like data center construction, environmental protection, and corporate regulation.

According to the official page of Bybit WSOT 2026, the AI Trading Championship has officially launched and will run until 18:00 Beijing Time on December 2. This event is designed exclusively for AI traders. Participants can trade using either Bybit AI sub-accounts or general AI sub-accounts, with rankings determined by account profit and loss. The top 200 users will split a maximum prize pool of 1,000,000 USDT. Per the competition rules, only Bybit AI sub-accounts and general AI sub-accounts are eligible; transactions conducted via Bybit AI main accounts are not counted. The two types of AI sub-accounts will be ranked separately based on their respective profit and loss, with no cross-account profit and loss combined. After the official start of the competition, registered accounts must maintain a minimum balance of at least 100 USDT to qualify for rankings. Additionally, when placing orders via Bybit AI’s natural language trading feature, users must input “Use my Bybit AI sub-account for trading” in the prompt to ensure transaction records are fully tracked. Final rankings, the prize pool, and award eligibility are all subject to post-competition review and settlement.

Dongcha Beating AI News Flash: DeepSeek has officially opened its "full suite" of application APIs, making available to third-party developers the web search, deep reasoning search, file parsing, web reading, and voice capabilities originally integrated into its official app. Previously, developers calling DeepSeek APIs only gained the model’s core inference capabilities. To replicate the official app’s experience, they had to integrate search engines, parse PDFs, scrape web pages, and feed the results to the model for processing. Now, by simply enabling corresponding parameters in the original API, DeepSeek automatically completes tool calls and context stitching on the server side. The model can search the web and read links while reasoning, and also combine uploaded PDFs, Office documents, and images to answer questions. DeepSeek has also launched independent interfaces for search, web scraping, OCR, ASR, and TTS. Developers can either use the full conversation suite directly, or call individual functions separately. The company has also open-sourced a chat app demo supporting multi-turn conversation, voice input, read-aloud replies, and importing DeepSeek chat history. Developers can modify it directly to build their own DeepSeek chat products.