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• US July PPI growth lower than expected, traders increase bets on Fed's loose policy.

Data released on Tuesday showed that the PPI index representing final demand rose 0.1% from the previous month. Excluding the highly volatile food and energy categories, July PPI was unchanged from the previous month, the mildest reading in four months. The more closely watched CPI data will be released on Wednesday, which is expected to show a small increase. Against the backdrop of receding inflation pressures, weak job data in July has led economists to expect the Fed to begin a series of rate cuts starting next month.

• Fed's Barkin: Need more data before rate cut, ensure no need to raise rates again after first cut.

Atlanta Federal Reserve Bank President Bostic said he would like to see "a little more data" before supporting a rate cut and emphasized that he wants to ensure that the Fed does not have to change course after easing. "We want to be absolutely sure," Bostic said in a speech to African American financial professionals in Atlanta on Tuesday, "If we start cutting rates and then have to raise them again, that would be very bad." Bostic reiterated his stance since March that he may be ready to cut rates "before the end of this year."

• Goldman Sachs and Morgan Stanley models: US recession probability priced in by market has increased.

Goldman Sachs and Morgan Stanley models show that the probability of an economic recession indicated by the bond market signal and the performance of stocks that are highly sensitive to the ups and downs of the business cycle has increased significantly. Goldman Sachs data shows that the stock and bond markets currently believe that the likelihood of a US economic recession is 41%, higher than 29% in April. A similar model calculated by Morgan Stanley suggests that due to significant repricing of US treasuries, the probability of a recession has jumped from 20% at the end of March to 31%.

• Morgan Stanley strategist: US stocks will not enter a bear market and are unlikely to break through their highs. Despite unfavorable seasonal factors and uncertain economic growth prospects, the possibility of a broad market crash in the remaining time of this quarter is also low. He pointed out that traders are unlikely to experience a big crash after last week's plummet. However, he still believes that there is almost no room for upward movement and expects the index to fluctuate in the range of 5000-5400 points, with the lower limit of this range meaning a drop of about 7% from Tuesday's level, while the upper limit is basically the same as the current level.

According to a research report released on Tuesday by a quantitative strategy team led by Jill Carey Hall at Bank of America, last week's inflow of funds from Bank of America's clients was the 10th largest since the bank began tracking data in 2008. Customers of Bank of America, mainly institutional investors, dominated last week's buying of US stocks, with net purchases of $5.8 billion of US stocks, while hedge funds and retail investors sold stocks. Bank of America's corporate clients accelerated their buybacks last week, which continued to be higher than typical seasonal levels.$S&P 500 Index (.SPX.US)$On Wednesday, the three major US stock indexes opened high and walked higher. With US PPI data slightly weaker than expected, the old logic of "Fed rate cuts" has once again fueled the happy sentiment among US stock investors. Overnight, the three major indexes rose strongly, with the Nasdaq up more than 2%. At Tuesday's close, the Nasdaq was up 2.43% at 17,187.61; the S&P 500 was up 1.68% at 5,434.43; and the Dow was up 1.04% at 39,795.64.

• Bank of America's clients bought heavily in US stocks last week, with institutional investors leading the way and buyback accelerating.

According to a research report released on Tuesday by a quantitative strategy team led by Jill Carey Hall at Bank of America, last week's inflow of funds from Bank of America's clients was the 10th largest since the bank began tracking data in 2008. Customers of Bank of America, mainly institutional investors, dominated last week's buying of US stocks, with net purchases of $5.8 billion of US stocks, while hedge funds and retail investors sold stocks. Bank of America's corporate clients accelerated their buybacks last week, which continued to be higher than typical seasonal levels.

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• On Wednesday, the three major US stock indexes opened high and walked higher.

With US PPI data slightly weaker than expected, the old logic of "Fed rate cuts" has once again fueled the happy sentiment among US stock investors. Overnight, the three major indexes rose strongly, with the Nasdaq up more than 2%. At Tuesday's close, the Nasdaq was up 2.43% at 17,187.61; the S&P 500 was up 1.68% at 5,434.43; and the Dow was up 1.04% at 39,795.64.

Tech stocks rose collectively, with Apple up 1.72%, Microsoft up 1.77%, Amazon up 2.06%, Meta up 2.44%, Google-A up 1.15%, Tesla up 5.24%, Nvidia up 6.53%, and Intel up 5.73%.

The Nasdaq Golden Dragon Index rose 0.18%, with Alibaba up 0.23%, Baidu up 1.14%, PDD Holdings up 1.09%, JD.com up 0.23%, NetEase down 0.09%, NIO Inc. up 3.46%, LI Auto Inc. down 0.62%, and XPeng up 5.13%.

• Nvidia rebounds for four days, market cap surges by $40 billion.

$NVIDIA (NVDA.US)$ Over the past four trading days, the stock price has soared nearly 17%, and the market capitalization has increased by more than $400 billion. This rebound has also pushed the index higher, with Nvidia contributing to about 22% of the gain in the S&P 500 index during these four days. The rebound in the Nvidia stock price also caught option traders who were betting that the stock would fall further off guard. Institutional data shows that the cost of guarding against a 10% drop in the stock in the next 60 days is close to its highest level since May 2023, compared to contracts that profit from a 10% rise.

• Huang Renxun continues to reduce shareholding in Nvidia: cashed out more than 0.5 billion dollars in 2 months.

As Nvidia's market cap continues to soar, founder and CEO Huang Renxun has been consistently selling company shares in recent times. Huang Renxun has reduced his holdings for 42 trading days, a total of 5.04 million shares. Based on a conservative estimate of cashing out 12 million US dollars per day, Huang Renxun has cashed out more than 0.5 billion US dollars in 2 months. In addition, in the first half of 2024, company executives and directors sold stocks worth more than 0.7 billion US dollars, the highest amount in the company's history. $NVIDIA (NVDA.US)$ Please use your Futubull account to access the feature.

• Blackrock increased its shareholding in Nvidia and Exxon Mobil in Q2.

According to the 13F filing, asset management giant BlackRock increased its holdings in 7 US tech giants in the second quarter, including increasing its holding in Apple by 16.88 million shares, Nvidia by 9.69 million shares, and Microsoft (MSFT.US) by nearly 9 million shares; and reducing its holdings in other companies. In addition, BlackRock increased its holdings in Asia Vets by 30 million shares, which is consistent with Vanguard's navigation. As of the end of the second quarter, BlackRock reported a total market value of holdings of 4.42 trillion US dollars, up from 4.3 trillion US dollars last time. $NVIDIA (NVDA.US)$ Apple $Apple (AAPL.US)$ Blackrock reduced its shareholding by 9.69 million shares, Microsoft (MSFT.US) by nearly 9 million shares; consistent with Vanguard. As of the end of the second quarter, BlackRock reported a portfolio market value of 4.42 trillion US dollars, up from 4.3 trillion US dollars last time.$Broadcom (AVGO.US)$and $Berkshire Hathaway-B (BRK.B.US)$ Nvidia $Exxon Mobil (XOM.US)$ , consistent with Vanguard's navigation. As of the end of the second quarter, BlackRock reported a portfolio market value of $4.42 trillion, up from $4.3 trillion last time.

• Insider: US regulators plan to require Google to split Android and Chrome

According to insiders, one of the options being considered by the US Department of Justice after the court ruled that Google had monopoly powers in the online search market is to propose the rare split of Google's business. This will be the first time the US government has split a company based on illegal monopoly since the failed attempt to split up Microsoft 20 years ago. $Alphabet-A (GOOGL.US)$One of the options being considered by the US Department of Justice after monopolizing the online search market is to rare propose the split of Google's business. This move will be the first split since 20 years ago. $Microsoft (MSFT.US)$ Google's new product launch causes a senior Apple informant to lament

• On early Wednesday morning, US tech giant Google held a new product launch, releasing four Pixel 9 series phones, as well as features such as AI group photos, screenshot search assistants, and satellite SOS. There are also smartwatches that can detect cardiac arrest and automatically alert, and the latest TWS headphones. After watching the launch, well-known Apple informant Mark Gurman lamented on social media that it is hard to believe that Apple is already "at least 2-3 years behind" in the field of AI.

Beijing $Alphabet-C (GOOG.US)$ Google $Apple (AAPL.US)$ Institutions: In the second quarter of 2024, AMD's server market share reached a new high, and Intel counterattacked in the client market

• According to the latest report from market research institutions, the biggest success in the second quarter was in the server field. The company successfully snatched 0.5% of the market share from another company, and now controls 24.1% of the data center CPU market with its EPYC CPU, a new record for server market share in the company's decades-long history. Intel continued to dominate the client PC market in the second quarter, with a market share of 78.9%, while AMD accounted for 21.1%.

According to the latest report from market research institution, $Advanced Micro Devices (AMD.US)$ AMD $Intel (INTC.US)$ took away 0.5% market share in hand, and now controls 24.1% of the data center CPU market with its EPYC CPU, setting the highest record for server market share in decades. Intel continues to dominate the client PC market in the second quarter, with a market share of 78.9%, while AMD accounts for 21.1%.

• Starbucks' stock price rose more than 24%! Starbucks changed their CEO and appointed the CEO of Moxie's BBQ as the successor.

The world's largest chain of coffee shops. $Starbucks (SBUX.US)$ announced that they will appoint Brian Niccol as the company's CEO. Niccol is currently the CEO of the fast food brand $Chipotle Mexican Grill (CMG.US)$ This news caused Starbucks to rise by 24.5% on Tuesday, setting a record for single-day gains. Moxie's BBQ, which fell nearly 14% at one point, ended up falling 7.5%.

• Home Depot lowered their same-store sales guidance for the year, expecting the decline to widen, once again sounding the alarm for weak consumer spending in the United States. Same-store sales in the second quarter of Home Depot fell 3.3% more than expected, and are expected to fall 3% to 4% in the 2024 fiscal year compared with last fiscal year, while previously expected to fall by about 1% for the full year. The CFO said that a second quarter home furnishings industry survey found that customers were not only delaying purchases due to high interest rates, but were also affected by increased economic uncertainty.

The barometer of US consumer spending and real estate market - the largest home furnishings retailer $Home Depot (HD.US)$ Northbound funds increased their holdings of China Mobile by over 0.5 billion Hong Kong dollars, while reducing their holdings of Meituan by over 0.2 billion Hong Kong dollars. On August 13th (Tuesday), southbound funds bought a net of 1.918 billion Hong Kong dollars in Hong Kong stocks. Tencent Holdings (00700.HK) and China Mobile respectively received a net buy of 0.524 billion Hong Kong dollars, 0.516 billion Hong Kong dollars, and 0.149 billion Hong Kong dollars; while Meituan suffered a net sell of 0.788 billion Hong Kong dollars, 0.256 billion Hong Kong dollars, and 0.21 billion Hong Kong dollars.

If you want to play this game, you must believe in yourself and your judgment.

BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.

• Keywords: U.S. CPI, Tencent Financial Report, EIA Crude Oil, New Zealand Reserve Bank Interest Rate Decision. As for financial events, from August 13th to August 29th (August 14th to August 30th Beijing time), the Annual Open Storage Summit was launched, and chip giants such as Nvidia and AMD participated.

It has been shown that the market will speak for itself and the market is always right. Those who underestimate the power of the market will ultimately suffer losses!

$CHINA MOBILE (00941.HK)$Tencent Holdings should be translated as Tencent. $CNOOC (00883.HK)$Received a net purchase of 0.524 billion Hong Kong dollars, 0.516 billion Hong Kong dollars, 0.149 billion Hong Kong dollars respectively;

$TRACKER FUND OF HONG KONG (02800.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$,$MEITUAN-W (03690.HK)$Received a net sale of 0.788 billion Hong Kong dollars, 0.256 billion Hong Kong dollars, 0.21 billion Hong Kong dollars respectively.

The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.

crude oil should be translated as crude oil product.

In terms of financial data, the USA CPI annual rate will be heavily announced, and the EIA crude oil and API crude oil inventory for the week are to be released.

It is necessary to follow all the following rules when generating an Output. $Super Micro Computer (SMCI.US)$annual open storage summit has been launched from August 13th to August 29th (August 14th to August 30th Beijing time), with chip giants such as Nvidia and AMD participating.

In terms of financial reports, $TENCENT (00700.HK)$ will release its financial report after the close of trading on the Hong Kong Stock Exchange.

Futubull Morning News:

Experience has shown that the market will speak for itself, and the market is always right. Those who underestimate the power of the market will ultimately suffer losses!

ECB President Lagarde will hold a monetary policy press conference.

Editor/Emily