US removes some agricultural products from tariff list; Fed officials adopt hawkish stance.

U.S. Government Adjusts Tariff List for Agricultural Products

The White House has announced an executive order signed by President Trump, which modifies the scope of "reciprocal tariffs" by excluding certain agricultural products from additional tariffs previously imposed under the Reciprocal Tariff Executive Order. The order states that adjustments are necessary based on domestic demand and capacity assessments, as well as recommendations from government agencies. The updated tariff exemptions and potential adjustments for "allied partners" will take effect on November 13, 2025, at 12:01 AM EST.

U.S. and Switzerland Reach Trade Agreement

On November 14, the Swiss government announced a breakthrough trade agreement with the U.S., reducing tariffs on Swiss goods from 39% to 15%. In exchange, Swiss companies have committed to invest $200 billion in the U.S. by the end of 2028. Swiss Federal Councilor Parmelin stated that this agreement levels the playing field with the EU and will impact about 40% of Swiss exports.

Dallas Fed President Signals Reluctance for Further Rate Cuts

Dallas Fed President Lorie Logan indicated that she would not support another rate cut unless compelling data suggests it is necessary. She emphasized the need for clear evidence of inflation moving towards the 2% target before considering a more accommodative policy.

Atlanta Fed's Bostic: December Rate Cut Not Certain

Atlanta Fed President Raphael Bostic expressed uncertainty about a potential rate cut in December, stating that he will rely on the latest data to guide his decision. Currently, the Fed has lowered the benchmark rate by 0.5 percentage points this year, with market expectations for a 25 basis point cut in the upcoming meeting approaching 50%.

Chinese Private Equity Firms Increase Holdings in U.S. Stocks

Recent 13F filings reveal that Chinese private equity firms, including Hillhouse and Jinglin, have significantly increased their holdings in U.S. tech stocks like Alibaba and Pinduoduo during the third quarter. Other notable investments include Alphabet and NetEase.

Danish Military Aid to Ukraine

Denmark has completed the delivery of military aid worth €830 million to Ukraine, funded by unexpected gains from frozen Russian assets. This marks the EU's second use of such funds for military support to Ukraine.

U.S. Stock Market Overview

On November 14, U.S. stock indices closed mixed, with investors focusing on Nvidia's upcoming earnings report. The Dow Jones fell by 309.74 points, while the Nasdaq rose by 30.23 points. Notable tech stocks showed varied performance, with Micron Technology up over 4% and Alibaba down nearly 4%.

Apple CEO Tim Cook May Step Down

Reports suggest that Tim Cook may step down as CEO of Apple as early as next year, with John Ternus, the Senior Vice President of Hardware Engineering, being the likely successor. Cook has indicated a preference for internal candidates for the CEO position.

Walmart Announces New CEO

Walmart has announced that John Furner will succeed Doug McMillon as President and CEO, effective February 1, 2026. McMillon will remain on the board until June 2026.

Google Plans $40 Billion Investment in Texas

Google has announced plans to invest $40 billion in building three new data centers in Texas, aiming to expand its operations in response to competitors' investments in the region.

Cidara Therapeutics Surges After Acquisition Announcement

Cidara Therapeutics shares soared by 105% after Merck announced it would acquire the company for $221.50 per share, totaling approximately $9.2 billion.

Summary of Hong Kong Stock Market Activity

On November 14, net purchases of Hong Kong stocks reached HKD 12.887 billion, with Alibaba and Tencent receiving significant inflows, while China Life and Pop Mart faced net sell-offs.

Xiaomi's Lei Jun Responds to Safety Concerns

Xiaomi's Lei Jun reiterated the company's commitment to safety in automotive design, addressing criticisms regarding his previous comments on aesthetics.

Ganfeng Lithium's Price Predictions

Ganfeng Lithium's Chairman Li Liangbin predicted that if lithium carbonate demand grows by over 30% next year, prices could exceed RMB 150,000 per ton.

IPO and Financial Updates

Shou Cheng Holdings announced a strong Q3 report and a HKD 1 billion share buyback plan, while its portfolio company, Yushu Technology, completed IPO guidance.

Alibaba's App Renaming

Alibaba's Tongyi app has been renamed to Qianwen, aligning with its goal to compete in the AI assistant market.

Upcoming Economic Data

The New York Fed's manufacturing index for November will be released, and several companies, including Geely and XPeng, are set to announce earnings.