Middle East tensions escalate, U.S. stocks close lower across the board, with defense stocks rising;

The S&P 500 Index records the best election year start ever;

800,000 new jobs added in the U.S. in August, slightly exceeding expectations;

For the first time in nearly 50 years, dockworkers on the East Coast of the U.S. go on strike;

Nike's financial report is mixed, and the investor day event is postponed;

Middle East tensions escalate, and WTI oil prices surge.

Affected by the escalation of tensions in the Middle East, U.S. stocks closed lower on Tuesday, with the CBOE Volatility Index (VIX), which reflects market panic sentiment, breaking through 19. The Dow Jones Industrial Average fell by 173.18 points, a decrease of 0.41%, closing at 42,156.97 points; the Nasdaq Composite fell by 278.81 points, a decrease of 1.53%, closing at 17,910.36 points; the S&P 500 Index fell by 53.73 points, a decrease of 0.93%, closing at 5,708.75 points. The small-cap Russell 2000 Index fell by 1.47%.

The technology sector declined. Tesla closed down by 1.38%, while Nvidia and Apple fell by 3.66% and 2.91%, respectively. However, Meta's stock price rose by 0.70%, setting a new 52-week high.

Iran announced the success of the first wave of missile attacks on Israel. Defense manufacturing stocks rose, with Northrop Grumman increasing by 2.99%, Lockheed Martin by 3.64%, and RTX by 2.67%, all setting new 52-week highs. The iShares U.S. Aerospace & Defense ETF, which includes 35 stocks valued at $6.2 billion, rose by 1.14%, also setting a new 52-week high. In addition, cruise stocks fell, with investors worried that the escalation of geopolitical conflicts could affect bookings and navigation. Carnival Corp fell by 2.49%, Norwegian Cruise Line fell by 2.93%, and Royal Caribbean Cruises fell by 2.33%.

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In terms of Chinese概念股, the NASDAQ Golden Dragon China Index closed up by 5.48%. Bilibili rose by 14.33%, Li Auto by 11.50%, Pinduoduo by 8.03%, JD.com by 7.33%, Alibaba by 6.24%, XPeng by 5.50%, iQIYI by 5.24%, Baidu by 4.74%, and New Oriental by 1.78%.Market Data: S&P 500 Records Best Election Year Start Ever

According to data from Carson Group, the S&P 500 has achieved the strongest performance in the first nine months of a U.S. presidential election year in history. The index recorded a 20.8% increase during the trading period ending in September this year, marking the highest rise among all election years since 1950. The previous record was set in 1976, when the S&P 500 rose by 16.7% in the first nine months.

U.S. Added 8 Million Jobs in August, Exceeding Expectations

On the economic data front, according to the U.S. Department of Labor's Job Openings and Labor Turnover Survey, the U.S. added 8 million jobs in August, exceeding expectations, but down by 1.3 million year-over-year. The number of hires and total separations remained around 5.3 million and 5 million, respectively. The job openings rate was 4.8%, with the number of hires and the hiring rate maintained at 5.3 million and 3.3%, respectively.

ISM Manufacturing Index Stays Flat at 47.2% in September, Slightly Below Expected 47.5%. Employment, inventory, and price indexes all declined, while the production indicator rose.

For the First Time in Nearly 50 Years, East Coast Dockworkers Begin Strike

Following the failure of new labor contract negotiations, dockworkers along the U.S. East Coast and the Gulf Coast began striking on Tuesday. This marks the first large-scale strike by the International Longshoremen's Association (ILA) of U.S. port workers since 1977, with about half of the U.S.'s ocean shipping disrupted.

Market analysis suggests that the dock strike could drive up the prices of food, automobiles, and a range of other consumer goods. However, if the strike does not last too long, it is expected to have a limited impact. Under the Taft-Hartley Act, U.S. President Joe Biden can intervene and order an 80-day cooling-off period to at least temporarily halt the strike action, but there are currently few signs that he will do so. If the strike continues, it will pose a greater challenge to the U.S. economy as it enters the critical holiday shipping season.

Nike's Mixed Earnings Report, Postponement of Investor Day Event

On the corporate front, Nike's earnings report released after the market close showed that the company earned 70 cents per share in the first fiscal quarter, exceeding expectations of 52 cents, with revenue of $11.59 billion, below expectations of $11.65 billion. Due to the mixed results of the latest earnings report, coupled with the upcoming appointment of a new CEO, Nike postponed the investor event originally scheduled for November. Nike's stock fell by 3% after the market close.Artificial intelligence chip manufacturer and Nvidia competitor Cerebras Systems filed a prospectus for its initial public offering (IPO) on Monday. The company will be listed on the NASDAQ stock exchange under the ticker symbol "CBRS."

Ford Motor Company's stock closed up 1.8%, at $10.75 per share. Goldman Sachs upgraded its rating from "neutral" to "buy," citing Ford's growing software and services business, as well as the Super Duty series of vehicles, as potential positive factors.

Middle East tensions escalate, causing a surge in WTI oil prices

In the commodity market, influenced by the escalation of the situation in the Middle East, the November delivery of West Texas Intermediate (WTI) futures on the New York Mercantile Exchange jumped by 2.44%, closing at $69.83 per barrel, and at one point during the session, it rose to $71.94. The December delivery of Brent crude oil futures increased by 2.6%, closing at $73.56 per barrel.