Meanwhile, U.S. Treasury yields fell from their nearly 10-year highs, with two-year Treasury yields falling 9 basis points to 4.118% on Monday and ten-year Treasury yields fell 15 basis points to 3.647%.

*Citi lowered S&P 500 index year-end target to 4000 points

*Transfer OPEC + will announce production cuts WTI oil prices rose by more than 5%

*Delivery volume in the third quarter was lower than expected Tesla stock price closed down against the trend

U.S. stock rose across the board on Monday, and the three major stock indexes tried to rebound after experiencing a sharp drop in September. Meanwhile, U.S. Treasury yields fell from their nearly 10-year highs, with two-year Treasury yields falling 9 basis points to 4.118% on Monday and ten-year Treasury yields fell 15 basis points to 3.647%. The 10-year Treasury bond yield once exceeded 4% last week, putting pressure on the U.S. stock market trend.

As of the close, the Dow Jones Industrial Average rose 765.38 points to 29,490.89 points, or 2.66%; the Nasdaq rose 239.82 points to 10,815.44 points, or 2.27%; the S&P 500 rose 92.81 points to 3,678.43 points, or 2.59%. In terms of the

sector, semiconductors led the market , regaining some of the lost ground this year. Among them, the Philadelphia Semiconductor Index (PHLX Semiconductor Sector) closed up 3.76% on Monday, and the index has fallen by nearly 39% so far this year. Intel closed up 4.66%, AMD closed up 4.34%, and Nvidia closed up 3.07%. Utilities, energy and materials stocks also led the market, with SPDR utility ETF rising 2.93% on Monday, New Era Energy's share price closing up 3.55%, US Southern Power Company rose 2.54%, and Duke Energy rose 2.48%.

Most popular Chinese stocks rose on Monday, with Daily Youxian rising 12.94%, Qutoutiao rising 7.84%, Tuniu rising 6.90%, Xiaoying Technology rising 6.73%, and New Oriental rising 4.42%.

New York Fed Chairman John Williams said on Monday that cooling global demand and a steady improvement in supply will bring inflation to around 3% next year. Williams said monetary tightening has achieved results, the real estate market has slowed, and consumer and corporate spending has shown signs of slowing down. He also said that it will take longer to fully reduce inflation to achieve the Fed's 2% inflation target. Data released by the U.S. Department of Commerce last Friday showed that personal consumption expenditure (PCE) in August was still higher than market expectations, up 6.2% year-on-year, and core PCE rose 4.9% year-on-year, still accelerating the upward trend.

Citi lowered S&P 500 index year-end target to 4000 point

Although US stocks rebounded on Monday, most Wall Street technical strategists are still skeptical of the market bottoming out, believing that the market may fall further before the sell-off ends.

Citi chief U.S. stock strategist Scott Chronert lowered its 2022 S&P 500 index target level from 4,200 points to 4,000 points on Sunday, and expects the index to be at 3,900 points by the end of 2023. However, despite a cut in this year's target price, it still means about 8% upside potential for the S&P 500. Cronette believes that the market has digested the risk of recession. Citigroup expects a 60% chance of a moderate recession in the first half of next year.

In terms of economic data, the US ISM manufacturing index fell to 50.9 in September, a new low since May 2020, and means that manufacturing activity is close to a contraction. In the sub-index, the new order and price index fell to 47.1 and 51.7 respectively, which hit the lowest level since June 2020.

rumor OPEC + will announce production cuts WTI Oil price has risen more than 5%

In the commodity market, driven by the news that OPEC+ is considering production cuts, oil prices rose on Monday. WTI crude oil futures for delivery in November rose 4.14 US dollars, or 5.2%, closing at US$83.63/barrel, and Brent crude oil futures rose 3.72 US dollars, or 4.37%, closing at US$88.86/barrel.

According to market news, the Organization of Petroleum Exporting Countries and other oil-producing allies may announce a significant production cut in their monthly meeting held on Wednesday, with production cuts expected to exceed 1 million barrels per day. In addition, after hitting a 20-year high, the index recorded four consecutive declines on Monday, driving crude oil demand and supporting prices.

follows the US dollar and Treasury yields lower, with gold rising more than 2% on Monday. Gold futures for December delivery on the New York Mercantile Exchange rose 2.21% to $1,708.90 per ounce.

The third quarter delivery volume was lower than expected Tesla's stock price closed down against the trend

For companies, Tesla's stock price closed down 8.61% against the trend on Monday, closing at US$242.40 per share. The company delivered about 343,000 vehicles in the third quarter, which was below market expectations. Based on macroeconomic uncertainty, Wall Street has differences on the future performance of Tesla's stock price. In addition, Tesla held the highly anticipated "AI Day" last weekend.

investment bank Goldman Sachs raised its Wells Fargo stock rating, and the bank's stock is expected to have nearly 20% room for upward. Wells Fargo shares closed up 3.38% on Monday to close at $41.58 per share.

investment bank JPMorgan announced its favored stocks in October on Monday, with the target price for Amazon being $185, which means a nearly 64% increase based on Amazon's closing price last Friday. Amazon's stock price closed up 2.55% on Monday to close at $115.88 per share.