Fuel prices are set for an adjustment window; November financial data may be released; the Federal Reserve will hold its interest rate meeting.

**Key Events** **Fuel Price Adjustment Window** Based on the "10 working days" principle, the next fuel price adjustment window is set for December 8 at 24:00. The previous adjustment on November 24 saw domestic gasoline and diesel retail prices drop by 70 yuan/ton and 65 yuan/ton, respectively.

**CPI and PPI Data Release** On December 10, China's National Bureau of Statistics will release the November CPI and PPI data. Huachuang Securities predicts that the year-on-year CPI growth rate may rebound from 0.2% in October to around 0.7% in November. The significant increase is mainly driven by food price fluctuations. Last November, food prices fell by 2.7% month-on-month, the lowest in a decade, while this November is expected to see a 1.1% increase. The volatility stems from vegetable prices affected by weather conditions, including lower temperatures and increased autumn rains since mid-to-late October, leading to supply shortages in some regions due to natural disasters.

**November Financial Data Likely to Be Released** In addition to CPI and PPI, key financial indicators such as new loans, M2, and aggregate financing (social financing) for November may also be announced next week. Zheshang Securities estimates that new RMB loans in November will reach 300 billion yuan, down 280 billion yuan year-on-year, with a growth rate decline of 0.1 percentage points to 6.4%. Aggregate financing is projected at 2.2 trillion yuan, down 342 billion yuan year-on-year, with a growth rate decline of 0.1 percentage points to 8.4%. M2 growth is expected to slow by 0.2 percentage points to 8.0%, while M1 growth may drop by 0.9 percentage points to 5.3%.

**Federal Reserve Interest Rate Meeting** The Federal Reserve is scheduled to hold its interest rate meeting next week. According to CME's "FedWatch Tool," as of 7:00 AM Beijing time on December 5, the probability of a 25-basis-point rate cut in December stands at 87%, with a 13% chance of rates remaining unchanged. Additionally, the likelihood of a cumulative 25-basis-point cut by January next year is 64%, while the probability of no change is 9%, and a 50-basis-point cut is 27%.

**Nearly 400 Billion Yuan in Lock-up Shares to Be Released Next Week** Wind data shows that 40 stocks will see lock-up shares lifted next week, with a total market value of nearly 400 billion yuan based on Friday's closing prices. Among them, 10 companies have lock-up shares worth over 1 billion yuan, including Ningbo Ocean Shipping, Eve Energy, Pioneer Precision, Ouke Technology, Jingpin Special Equipment, Boyuan Shares, Nanshan Zhishang, Changyingtong, Jingsong Intelligent, and Juhe Materials.

**IPO Opportunities** Wind data indicates that five new stocks will be issued next week: one on the Shanghai Main Board, one on the STAR Market, one on the Shenzhen Main Board, and two on the ChiNext Board. Specifically, Youxun Co. and Nabai Chuan will debut on December 8, Yuanchuang Co. on December 9, and Xihua Technology and Tiansu Measurement on December 12.