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• Most economists expect the Federal Reserve to cut interest rates three times this year, and the likelihood of an economic recession is small.

Recent data, including strong retail sales reports, show that the U.S. economy is performing well and inflation is easing. According to a survey by foreign media, most economists expect the Fed to cut interest rates by 25 basis points at each of the remaining three meetings in 2024. The forecast has increased from last month, reflecting a reassessment of the economic outlook. However, economists generally believe that the possibility of a U.S. economic downturn is low. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively.

• Fed 'dovish' shifts: Open to rate cuts in September, but should not exceed 25 basis points

Fed's Kashkari said he was open to a rate cut at the next meeting because of the increasing likelihood of a too-weak labor market. 'The risks have shifted, so it's appropriate to discuss the possibility of a rate cut in September,' Kashkari said in an interview. But he still said there was no reason to cut rates by more than 25 basis points, as the layoff rate remained low and the number of people applying for unemployment benefits showed no significant deterioration.

• Goldman Sachs fund flow experts: Bullish on US stocks tactically before mid-September, selling will attract bottom-fishing buyers

Although 'CTA re-leverage', volatility-targeted fund investment, put option closing and corporate buyback demands, Rubner, a Goldman Sachs expert who accurately predicted the downturn of US stocks this summer, points out that current positions and fund flows will be a tailwind for US stocks, as sellers have run out of ammunition. The four weeks leading up to September 16 are very favorable for US stock trading, while the current market period is the worst two weeks of the year.

• US Chamber of Commerce: US future economic growth faces obstacles

Justyna Zabinska-La Monica, senior director of the US Chamber of Commerce's Business Cycle Index, said that in July, non-financial sectors were generally weak. The sharp deterioration of new orders, consumers' continued pessimistic expectations for business conditions, and the slowdown in building permits and manufacturing hours worked contributed to the decline. These data continue to indicate that future economic growth will face obstacles. The US Chamber of Commerce expects US real GDP growth to slow in the coming quarters as consumers and businesses continue to cut spending and investment.

• Survey shows: US unemployment expectations reach new highs, dissatisfaction with wages soars

According to a survey by the Federal Reserve Bank of New York on consumer expectations, since the survey began in 2014, the proportion of people who think they may be unemployed in the next four months has reached a record high. After the July employment report showed an increase in the unemployment rate, economists and policy makers have been highly alert to any signs that the deterioration of the job market may be faster than expected. The survey found that 4.4% of respondents expect to be unemployed in the next four months, the highest level on record.

• Historic first! Gold bar prices reach $1 million

Last Friday, the spot gold price exceeded $2,500 per ounce, continuing to hit a historical high. Gold bars typically weigh about 400 ounces, which means that each gold bar has reached a milestone price of over $1 million.

• Heat wave hits Texas power grid faces toughest test this summer

Texas faces its largest heat test of the summer this week, and how to keep the power and air conditioning running in Fahrenheit and record power consumption has become a top priority. The Texas grid operator said electricity consumption could reach 86 gigawatts (86,000 megawatts) by 5 p.m. Monday, and would test that level again on Tuesday. Extreme weather has caused multiple failures of the Texas grid, leading to widespread power outages and soaring energy costs.

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

• S&P, Nasdaq hit eight-day winning streak, Nvidia up more than 24% accumulated

On Monday, the US stock market continued its stunning momentum, with the S&P 500 and Nasdaq recording eight consecutive gains and the S&P 500 closing significantly higher, just a step away from its historical high, as the market bet on an imminent rate cut by the Fed.

At the close, the Dow rose 236.77 points, or 0.58%, to 40,896.53; the Nasdaq rose 245.05 points, or 1.39%, to 17,876.77; and the S&P 500 rose 54.00 points, or 0.97%, to 5,608.25.

Most large technology stocks rose, with Nvidia up more than 4%, rising for the sixth consecutive day. Tesla rose more than 3%, Google A rose more than 2%, Microsoft rose 0.73%, Amazon rose 0.66%, Meta rose 0.35%, and Apple fell 0.07%.

Hot Chinese stocks generally rise, Nasdaq China Long Dragon Index up 1.39%. iQiyi rose more than 6%, Li Auto rose more than 4%, Xiaopeng Auto, Bilibili, and NIO rose more than 3%.

Monkey pox concept stocks rose and fell, with GeoVax Labs up 1.27% and up nearly 55% at one point in early trading; Chimerix also rose 2.94%, up more than 15% at one point in the session.

• Challenging Nvidia! AMD plans to spend $4.9 billion to acquire ZT Systems, an AI data center equipment company.

U.S. chip giant $Advanced Micro Devices (AMD.US)$ announced on its official website on Monday that it has signed a definitive agreement to acquire ZT Systems for $4.9 billion. The press release stated that AMD would pay the $4.9 billion in a mixture of cash and stock. Media analysis suggests that AMD's decision to acquire ZT is to expand its portfolio of AI chips and hardware products in order to compete with industry leader Nvidia.

• Buffett continues to reduce shareholding in Bank of America.

$Berkshire Hathaway-A (BRK.A.US)$ selling shares worth $550.7 million. $Bank of America (BAC.US)$ On August 20th, according to documents disclosed by the U.S. Securities and Exchange Commission (SEC) on August 19th, Bank of America shareholder Berkshire Hathaway sold 13.9689 million ordinary shares at an average price of $39.4202 per share on August 15th, 16th, and 19th, worth about $551 million.

• Waymo reveals details of its sixth generation self-driving taxi.

on Monday, Waymo, a subsidiary of , released the technical details of its latest 'sixth-generation' autonomous taxi. The company has redesigned the hardware and software for its autonomous vehicles, providing clearer vision, stronger computing power, and more functionality without the need for more expensive cameras and sensors, resulting in significantly lower manufacturing costs. $Alphabet-A (GOOGL.US)$ McDonald's has risen for 6 consecutive days to a 5-month high. Institutional investors have raised their target price for the stock to $320.

• General Motors is cutting more than 1,000 software engineers to streamline its software and services departments. It is reported that more than 600 jobs will be cut in Michigan.

mcdonald's (MCD.US) LatePost reported that Luckin plans to launch a large-scale overseas expansion plan between Q4 2024 and Q1 2025, focusing on Southeast Asia and the U.S. markets. At present, Luckin has only 38 directly operated stores overseas in Singapore.

• Beishui sold Hong Kong ETFs and increased its holdings in China Mobile by more than HK$0.1 billion; the information disclosure mechanism for Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect will be adjusted starting from Monday.

According to people familiar with the matter, $General Motors (GM.US)$ will cut more than 1,000 software engineers to streamline its software and services departments. It is reported that more than 600 jobs will be cut in Michigan.

• Luckin plans massive overseas expansion by the end of the year, with a focus on Southeast Asia and the USA.

According to LatePost, Luckin plans to launch a large-scale overseas expansion plan between Q4 2024 and Q1 2025, focusing on Southeast Asia and the U.S. markets. At present, Luckin has only 38 directly operated stores overseas in Singapore. $Luckin Coffee (LKNCY.US)$ NetEase Cloud Music crashes! Industry insiders say there may be problems with the data. The official response from NetEase Cloud Music is that due to infrastructure failures, NetEase Cloud Music cannot be used normally and is currently being repaired. Regarding rumors such as 'Developers from NetEase Cloud Music deleted the database and fled' and 'NetEase Cloud Music cannot search for songs,' the official response is 'the fault has nothing to do with the machine room and the content is untrue'.

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.

• On Monday (August 19th), southbound funds net sold HKD 6.179 billion. Among them,

The Shanghai Stock Exchange and Shenzhen Stock Exchange recently announced that they have decided to adjust the information disclosure mechanism for Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect starting from August 19th. Regarding Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, after the adjustment, at the end of each Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect trading day, the total turnover and number of transactions for that day, the total turnover of ETFs, the top ten active securities for transactions and their total turnover will be announced monthly and annually.$CHINA MOBILE (00941.HK)$and$CCB (00939.HK)$N/A.$CNOOC (00883.HK)$The net buying amounts ranked top three, with net buying of 0.135 billion Hong Kong dollars, 0.131 billion Hong Kong dollars and 0.01 billion Hong Kong dollars respectively.

On the net selling side,$TRACKER FUND OF HONG KONG (02800.HK)$,$CSOP Hang Seng TECH Index ETF (03033.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$They suffered net sales of 5.052 billion Hong Kong dollars, 1.294 billion Hong Kong dollars, and 1.123 billion Hong Kong dollars respectively.

Berkshire Hathaway Inc., a Bank of America shareholder, sold 13.9689 million ordinary shares for approximately US$550 million at an average price of US$39.4202 per share on August 15, 16, and 19, according to documents filed by the U.S. Securities and Exchange Commission (SEC) on August 19.

On the fifth trading day of each quarter for the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect, the total number of shares held by investors through the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect for a single security at the end of the previous quarter will be disclosed.

• In 2023, the company's overall sales volume of 18,000 kiloliters, +28.10% year-on-year, significant growth. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively.

$CLOUD MUSIC (09899.HK)$ McDonald's has risen for 6 consecutive days to a 5-month high. Institutional investors have raised their target price for the stock to $320.

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.

Keywords: China's August one-year and five-year loan market quote rate (LPR); Eurozone seasonally adjusted current account and July CPI data.

On Tuesday, economic data: China will release August one-year and five-year LPR; Eurozone will release June seasonally adjusted current account and July CPI data; Canada will release July CPI data; USA will release weekly redbook retail sales.

In terms of financial reports, China Telecom, Kuaishou-W, and Pop Mart will announce their financial reports today; Futu Holdings Ltd, Vipshop, and Xpeng will release their results before pre-market trading.

As for new stocks, Tongyong Kang Medicine-B will be listed today.

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!

- [USA] William O'Neil

Editor/Emily