Above 50,000 points, the Dow hits a new high. Trump: Before my term ends, I will reach 100,000 points! Dalio, however, issues a warning...

Editor | Duan Lian, Du Hengfeng Proofreader | He Xiaotao

On February 10th, local time, the U.S. stock market opened with mixed gains and losses across the three major indices. By the time of this report, all had turned positive, with the Dow Jones Industrial Average rising 0.7% to a new high, while the Nasdaq and S&P 500 indices shifted from declines to gains, up 0.09% and 0.2%, respectively.

Technology stocks in the U.S. market generally declined, with the Philadelphia Semiconductor Index plunging at the open, falling over 1% at one point. Among the “Big Seven” tech giants, Google briefly fell over 2%, while Nvidia and Meta declined. Tesla, Microsoft, and Amazon rose. TSMC increased by 1.49%, reaching a new high.

On February 10th, according to media reports citing informed sources, Google’s parent company Alphabet has launched its first Swiss franc bond issuance. The issuance includes bonds with maturities of 3, 6, 10, 15, and 25 years, with pricing expected later today. Additionally, Alphabet has also initiated its first British pound bond issuance, with maturities of 3, 6, 15, 32, and 100 years, also expected to be priced later today.

Chinese concept stocks mostly rose, with the Nasdaq Golden Dragon China Index up 0.78%. Alibaba, JD.com, Sohu, Tencent Music, Li Auto, XPeng, and iQiyi all increased, with Dingdong Maicai surging over 9%.

International gold prices declined, briefly falling below $5,000. As of this report, spot gold was priced at $5,043.35, with intraday losses narrowing to 0.31%.

According to Cailian Press, U.S. President Donald Trump recently stated that he expects the Dow Jones Industrial Average to reach 100,000 points before he leaves the White House in January 2029. Last Friday, the Dow first surpassed the 50,000-point mark.

Trump attributed the rise in U.S. stocks to his tariff policies and predicted that the Dow would double again before the end of his term. “The record-breaking stock market and national security are driven by our great tariff policies. I expect the Dow to reach 100,000 points before my term ends,” Trump wrote on his self-created social media platform, Truth Social. He also claimed to be “correct on everything” and said, “Remember, Trump is right about everything! I hope the U.S. Supreme Court is paying attention to this.”

However, on February 10th, Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, issued a warning that the U.S. is in the “fifth stage” of the empire’s rise and decline cycle, which is the eve of chaos and conflict. Dalio pointed out that the world is being affected by five major forces: the monetary/credit cycle, domestic political order, geopolitical order, natural forces, and technological change. He believes the U.S. is currently in the fifth stage of its defined “six-stage long cycle”—a period of extreme polarization and debt imbalance, on the brink but not yet fully collapsing. He emphasized that the U.S. faces severe debt supply and demand issues, and that central bank money printing to cover deficits will lead to currency devaluation. For investors, Dalio explicitly recommended allocating 5%-15% of their portfolios to gold, calling it “the only asset not owed to others.” For ordinary people, he suggested strategies such as saving, investing in gold, and choosing stable regions for residence.