Us stocks opened lower on Friday. As of press time, the three major indexes were slightly weaker, with the Dow down 0.33%, the Nasdaq down 0.44% and the S & P 500 down 0.25%.

By Thursday's close in September, both the s & p 500 and the Dow had fallen more than 7%. It would be the Dow's worst monthly performance since March 2020 and the S & P 500's biggest monthly decline since June. The Nasdaq has fallen 9.1 per cent, its biggest monthly decline since April.

Jamie Cox, managing partner of Harris Financial Group, said: "the market stinks. But that's basically what the Fed wants: to tighten financial conditions, which they think will help bring inflation down to acceptable levels. They are using the market transmission mechanism to achieve this goal. "

"now all the targets are oversold, so there has been a rebound," Esty Dwek, chief investment officer of Flowbank in Switzerland, said on Friday. We are a little closer to the bottom of the market.Market sentiment is so negative that the downside is more limited.」

On the economic data side on Friday, the US PCE price index rose 6.2 per cent in August from a year earlier, higher than market expectations of 6 per cent, compared with 6.3 per cent (revised to 6.4 per cent), according to the Commerce Department.

The PCE price index rose 0.3 per cent in August from a month earlier, higher than the expected 0.1 per cent, compared with a previous value of-0.1 per cent.

Meanwhile,The Fed's most important indicator of inflation, the core PCE price index, accelerated upward.Excluding food and energy pricesIn the US, the core PCE index rose 4.9 per cent year-on-year in August, higher than the expected 4.7 per cent, compared with 4.6 per cent (revised to 4.7 per cent), the fastest pace since May.

The core PCE price index rose 0.6 per cent in August from a month earlier, higher than the expected 0.5 per cent, with a previous value of 0.1 per cent (revised down to 0 per cent).

In additionThe data showed that US labor costs continued to rise and personal consumption spending showed a weak trend.

Overseas markets, as an important factor in the current round of global market turmoil, British Prime Minister Truss and Chancellor of the Exchequer Kvorten will meet with the British Office of Budget responsibility today, which is also seen as a measure to reassure the market.

Long before the UK market shock, the European systemic risk Committee (ESRB) issued its first risk warning since its establishment.

Focus stocks

Star technology stocks go up and down.$Micron Technology (MU.US)$Increase by more than 3%$Microsoft (MSFT.US)$$NVIDIA (NVDA.US)$Rise slightly$Nike (NKE.US)$It fell nearly 13%.$Apple (AAPL.US)$、$Tesla (TSLA.US)$A slight drop.

Hot Chinese stocks are mixed.$KE Holdings (BEKE.US)$Increase by more than 3%$Pinduoduo (PDD.US)$Increase by more than 1%$XPeng (XPEV.US)$、$Li Auto (LI.US)$Down about 3%.

$Tesla (TSLA.US)$AI Day is held on Saturday morning. According to Tesla, Inc. 's official microblog, the AI Day in 2022 will begin at 8: 00 a.m. Beijing time on October 1. The market is expected to release the latest developments in the humanoid robot Tesla Bot and the Dojo supercomputer. As of press time, Tesla, Inc. is down nearly 2%.

$Nike (NKE.US)$Revenue in the first quarter of fiscal 2023 rose 4 per cent from a year earlier to $12.27 billion, but net profit fell 22 per cent to $1.5 billion. The company confirmed that overall inventories rose 40 per cent to $9.7 billion at the end of the quarter due to supply chain problems, with inventories in North America soaring 65 per cent. The company said it plans to increase discounts to clear inventory. As of press time, Nike Inc fell by more than 13%.

$Micron Technology (MU.US)$Revenue in the fourth quarter of fiscal 2022 fell nearly 20 per cent year-on-year to $6.64 billion, although earnings per share were slightly better than expected. For the next quarter, Micron expects revenue of about $4.25 billion and an adjusted earnings per share of $.40 to $0.10, well below expectations of $0.87. As of press time, Micron Technology Inc is up nearly 1 per cent.

$Alphabet-A (GOOGL.US)$Acknowledging the failure of its attempt to reshape the gaming industry around cloud computing, the company will shut down its cloud gaming service Stadia early next year to further cut costs and save money. According to the official page, the Stadia server will be shut down on January 18. The company promises to provide refunds for all hardware, games and add-ons that players buy through the Stadia store. As of press time, Alphabet Inc-CL C fell 0.34%.

Facebook Inc parent company$Meta Platforms (META.US)$Hiring will be frozen and some teams will be reorganized to cut costs and refocus, it was announced on Thursday. Meta CEO Zuckerberg announced the decision at a weekly question-and-answer session, the company's clearest statement to date. As of press time, the company's shares are up 0.23%.

According to one attendee, the company will cut the budgets of most teams, even those whose performance is growing. Some media commented that restructuring the team may mean the adjustment and transfer of personnel within the company, and the dismissal of those who lag behind.

The Federal Aviation Administration says$Boeing (BA.US)$The key work required for the approval of 737 MAX 7 has not yet been completed. According to media reports, the Federal Aviation Administration (FAA) told Boeing Co that the company had not yet completed the key work required to certify the 737 MAX 7 by December. As of press time, Boeing Co is down more than 1%.