U.S. stocks open lower, China concept index drops over 0.5%, Disney falls over 7% on Q4 profit decline

Glonghui, February 2nd｜All three major US stock indexes opened lower, with the Dow Jones down 0.02%, the Nasdaq down 0.41%, and the S&P 500 down 0.21%. The Nasdaq Golden Dragon China Index fell more than 0.5%, with 111, Inc. down 14.66%, Canaan Technology down 2.71%, Huya down 4.25%, Niu Technologies down 3.32%, and 21Vianet down 2.71%. The rare earth sector strengthened, as Trump proposed to establish a $12 billion rare earth reserve; USA Rare Earth rose 7.7%, Critical Metals rose 6.5%, and MP Materials rose 2.7%. Nvidia fell 1.7%, suspending its investment plan in OpenAI. Cryptocurrency concept stocks generally declined, with Strategy down more than 6%. Oracle rose more than 3% as the company launched a US dollar bond issuance plan. Disney fell more than 7%, dragged down by its film and television business, with Q4 profits declining.