[Overnight global news you need to know on Friday: Cisco, Applied Materials, and Cerebras performance exceeded expectations; Nvidia’s market value evaporated by US$182 billion in a single day; Trump suggested that Cook replace Jensen Huang as Nvidia CEO] global news 1. Cisco rose 8% after the market closed. The company raised its adjusted earnings per share guidance for fiscal year 2027 to US$5.47 to US$5.53. The previous guidance was US$5.05 to US$5.11, and the market estimate was US$5.10. The revenue guidance was raised to US$74.8 billion to US$75.8 billion, from US$72.2 billion to US$73.4 billion, and the market estimate was US$73.15 billion. 2. Cerebras Systems once rose 10% after the market closed. The company’s core revenue in the third fiscal quarter was US$230.9 million, higher than the estimated US$214.7 million. The fourth quarter core revenue is expected to be US$310 million to US$330 million, and the market estimate is US$271.2 million. 3. Applied Materials rose 2% after the closing bell. The company’s fourth-quarter net sales were US$10.41 billion, a year-on-year increase of 53%, higher than the estimated US$10.27 billion. Net sales in the first fiscal quarter were expected to be US$10.6 billion to US$11.6 billion, with an estimated US$10.87 billion. 4. U.S. President Trump said that force may be used against Iran if necessary. Asked whether he might use force against Cuba, Trump said he would consider it. 5. U.S. President Trump said that Cook should succeed Huang Jensen as CEO of Nvidia. 6. The Federal Reserve updated the 2027 Federal Open Market Committee (FOMC) meeting schedule and canceled the October interest rate meeting schedule. 7. It is reported that merger negotiations between SpaceX and Tesla are advancing, and the deal may be announced as early as December. Advisers from both sides are discussing terms, but the final delivery date could still be pushed back to 2027. 8. SpaceX plans to invest up to US$24 billion to build new supercomputing infrastructure, and at the same time promote the construction of a supercomputing park in Arizona of approximately US$50 billion. 9. Cleveland Fed President Beth Hammack reiterated her belief that interest rates need to be raised to combat inflation amid demand pressure from investments in artificial intelligence. 10. San Francisco Fed President Mary Daly said further interest rate increases may be needed to reduce inflation and said more and more companies are considering raising prices. 11. The White House is reported to be discussing whether Howard Lutnick will continue to serve as U.S. Secretary of Commerce. 12. Prediction market Kalshi terminates Donald Trump Jr.’s consulting contract. 13. Chile raised its lithium production forecast for this year to 325,000 tons. 14. Goldman Sachs predicts in its 2027 outlook that global GDP will grow by 2.8% in 2027, US GDP will grow by 2.4%, and UK GDP will grow by 1.4%. 15. The U.S. Department of Justice will seize $1.2 billion worth of cryptocurrency previously stolen from Binance by hackers. global market 1. The three major U.S. stock indexes collectively closed down, with the Nasdaq falling 0.39%, the Dow Jones Industrial Average falling 0.36%, and the S&P 500 Index falling 0.35%. Most chip stocks fell, with the Philadelphia Semiconductor Index falling 0.%. NVIDIA fell 4.34% and its market value evaporated by US$182 billion; SanDisk fell 4.1%, Applied Materials and Cerebras fell more than 3%; NVIDIA GPU competitors Broadcom and AMD rose more than 5%. 2. International oil prices rose. WTI crude oil futures for December delivery rose by 2.6%, settling at US$88.74 per barrel; Brent crude oil in January rose by 3.3%, closing at US$95.82 per barrel. 3. International precious metals fell, with spot gold prices falling by 2.87% to US$3,873.42/oz; spot silver prices falling by 3.29% to US$49.95/oz. 4. Livermore’s leading index of Chinese concept stocks closed down 3%. Among the constituent stocks, iQiyi and Alibaba fell by more than 7%, Weilai fell by more than 6%, and Xpeng Group, Li Auto, and Bilibili fell by more than 3%.