This week's important schedule overview

• As the financial reporting season comes to an end, Nvidia's performance has become a key market catalyst.

Known as the 'most important stock on earth,' Nvidia will announce its performance for the second quarter of the 2025 fiscal year after the US market closes on August 28th.

Nvidia's report card not only affects itself, but also the global technology and even the financial industry chain. Analysts generally expect the company's second fiscal quarter revenue to be $28.67 billion, a 112.2% year-on-year increase, although the growth has slowed compared to the over 250% increase in the same period last year, it is still strong, with an estimated earnings per share of $0.64.

Allspring Global Investments believes that Nvidia has become a stock representing the trend of the times, and its financial report release time is like the 'Super Bowl' of the financial market, attracting broad attention and discussions.

According to data from the options analysis company ORATS, traders expect that on the day after Nvidia announces its financial report, the company's stock price will fluctuate by approximately 10.3%, a number higher than the expected trends before any of Nvidia's financial reports over the past three years, and significantly higher than the average 8.1% volatility of the stock after announcing performance for the same period.

In addition to Nvidia's financial report, Salesforce, Dell Technologies are also worth watching, while Pinduoduo, Meituan, Trip.com, and other Chinese concept stocks will also release their latest results.

According to market expectations, Pinduoduo is expected to achieve revenue of 100.099 billion yuan in Q2, a year-on-year increase of 91.46%; expected EPS of 19.01 yuan, a year-on-year increase of 111.27%. The growth rate of Pinduoduo's Q2 online marketing services and transaction services is expected to slow down slightly, and the momentum of GMV growth will decline.

英伟达亮相Hot Chips，展示Blackwell的最新进展

• The most favored inflation indicator by the Federal Reserve is coming.

In terms of data, the most noteworthy will be the Personal Consumption Expenditures (PCE) Price Index in the United States, which is the inflation indicator most favored by the Federal Reserve. Although the interest rate cut in September has already been set, PCE inflation may affect the magnitude of the interest rate cut by the Federal Reserve and its subsequent policy path.

The market generally expects that the month-on-month Core PCE Index will remain unchanged at 0.2%, and the year-on-year growth rate will rebound slightly to 2.7%. Overall, both the monthly and annual PCE rates are expected to accelerate slightly. At the same time, the personal spending rate for July is expected to increase by 0.5%, which may alleviate concerns about economic recession, but it will also weaken hopes for a substantial interest rate cut.

Before the PCE data is released, the U.S. will also release July durable goods orders, initial jobless claims for the week ending August 24, Conference Board Consumer Confidence Index for August, and the second revised value of Q2 GDP growth.

Due to the limited remarks from the Federal Reserve, investors will have to follow the tone set by Powell in the Jackson Hole speech. However, as trading volume rebounds from the summer lull, a large number of U.S. Treasury auctions in the coming week may stimulate some volatility in the bond market.

• After the Jackson Hole Central Bank Annual Meeting, attention was focused on speeches by Federal Reserve officials.

Federal Reserve Chairman Powell's speech at the Jackson Hole Annual Meeting on Friday delivered the strongest signal for rate cuts so far, ending the week with cheers from Wall Street.

After Powell's speech, traders increased their bets on a significant rate cut in September. The probability of a 50 basis points rate cut for next month in the pricing of Fed Funds futures is currently at 37%, higher than the approximately 25% on Thursday evening. They also predict that by the end of this year, the cumulative rate cuts by the Fed in the remaining three meetings will reach 106 basis points.

Looking ahead to the next week, FOMC voters for 2024 and Atlanta Fed President Bostic will give speeches on Thursday and Friday respectively.

Previously, this official had stated that he was close to being ready for rate cuts and may support more than one rate cut this year. Investors should pay attention to whether he will reveal the speed and pace at which the Fed will take rate-cutting actions in his latest speech.

• Focus on Japan's July unemployment rate and August Tokyo CPI.

When the Bank of Japan simultaneously raised interest rates and announced a gradual halving of its asset purchases at its July meeting, the reality that Japan's years-long ultra-loose monetary policy is coming to an end finally hit investors' nerves. Currently, the Bank of Japan seems likely to raise interest rates for the third time before the end of the year. Although Governor Kuroda expressed concerns about the current market volatility, he hinted that there would be more rate hike plans if the economy and inflation stay on track.

Therefore, the Tokyo CPI data released on Friday will be very important as it is considered a leading indicator of Japan's nationwide inflation trend. In addition, Japan's July unemployment rate is also worth close attention from investors.

• NVIDIA showcased the latest progress of Blackwell at Hot Chips.

This week's key performance calendar

August 26th, Monday

Keywords: China's mid-term lending facility (MLF) successful bid rate as of August 26th, China's mid-term lending facility (MLF) operating scale as of August 26th, US July durable goods orders monthly rate, PDD Holdings / Trip.com performance

On Monday, in terms of economic data, China's mid-term lending facility (MLF) successful bid rate as of August 26th, China's mid-term lending facility (MLF) operating scale as of August 26th, and US July durable goods orders monthly rate will be announced.

On the economic event side, the State Council Information Office held a press conference on the 24th China International Investment and Trade Fair.

In terms of financial reports, $PDD Holdings (PDD.US)$ The performance will be announced before the US stock market opens. $Trip.com (TCOM.US)$ The performance will be announced after the US stock market closes; Hong Kong stock $PETROCHINA (00857.HK)$Please use your Futubull account to access the feature.$CHABAIDAO (02555.HK)$ Wait for the performance announcement.

In terms of new stocks, USA $YHN Acquisition I Corp. (YHNAU.US)$ will be listed. $Breathe BioMedical Inc. (BRTH.US)$Please use your Futubull account to access the feature.$YHN Acquisition I Corp. (YHNAU.US)$ Will go public.

Tuesday, August 27th.

Keywords: China's year-to-date year-on-year profit of large-scale industrial enterprises in July, China's year-on-year profit rate of large-scale industrial enterprises in July, USA's monthly rate of FHFA house price index in June, USA's consumer confidence index in August.

On Tuesday, in terms of economic data, China will release the year-on-year profit rate of large-scale industrial enterprises in July, year-to-date year-on-year profit rate of large-scale industrial enterprises in July; while the USA will release the monthly rate of FHFA house price index in June, and the consumer confidence index of the Conference Board in August, and other data.

In terms of financial reports, in the Hong Kong stock market $ANTA SPORTS (02020.HK)$Please use your Futubull account to access the feature.$CHINA RES POWER (00836.HK)$Please use your Futubull account to access the feature.$HAIDILAO (06862.HK)$Please use your Futubull account to access the feature.$CHINA TAIPING (00966.HK)$ The performance will be announced; $Bank of Montreal (BMO.US)$Please use your Futubull account to access the feature.$Bank of Nova Scotia (BNS.US)$Please use your Futubull account to access the feature.$Gaotu Techedu (GOTU.US)$ The performance will be announced before the US stock market opens.

Wednesday, August 28th

Keywords: US API crude oil inventories as of August 23rd, Nvidia/Meituan/Li Auto performance

On Wednesday, in terms of economic data, US API crude oil inventories as of August 23rd, US EIA crude oil inventories as of August 23rd, and US EIA strategic petroleum reserve inventories as of August 23rd will be released.

As for financial reports, the most important ones in the US stock market $NVIDIA (NVDA.US)$ will be announced after the market closes. $Salesforce (CRM.US)$ Will also announce the latest performance post-market. $Li Auto (LI.US)$Please use your Futubull account to access the feature.$Chewy (CHWY.US)$ Performance will be released pre-market.

In addition, Hong Kong stocks $MEITUAN-W (03690.HK)$Please use your Futubull account to access the feature.$CNOOC (00883.HK)$Please use your Futubull account to access the feature.$BYD COMPANY (01211.HK)$Please use your Futubull account to access the feature.$CHINA LONGYUAN (00916.HK)$ The performance will be released on that day.

Thursday, August 29th

Keywords: Number of initial jobless claims in the US up to August 24th, revised annualized GDP growth rate for the second quarter, speech by Atlanta Fed President Bostic on economic outlook, financial reports of Cosco Shipping Holdings/Dell Technologies

On Thursday, in terms of economic data, the US will release a series of data including the initial jobless claims for the week ending August 24, the revised annualized quarterly rate of real GDP for the second quarter, the monthly rate of pending home sales index for July, and the natural gas inventory for the week ending August 23.

As for financial events, the 2024 FOMC voting members and the President of the Federal Reserve Bank of Atlanta, Bostic, will deliver speeches on the economic outlook.

In terms of financial reports, in the Hong Kong stock market $COSCO SHIP HOLD (01919.HK)$Please use your Futubull account to access the feature.$TSINGTAO BREW (00168.HK)$Please use your Futubull account to access the feature.$SD GOLD (01787.HK)$ The performance will be announced; $Dell Technologies (DELL.US)$Please use your Futubull account to access the feature.$Lululemon Athletica (LULU.US)$ The performance will be released after the market closes.

In terms of new stocks, $Majestic Ideal (MJID.US)$ Will go public.

Friday, August 30th.

Keywords: Japan's unemployment rate in July, Tokyo CPI in August, US core PCE price index annual rate in July, US personal spending rate in July, US one-year inflation rate in August is expected to be the final value, remarks by Federal Reserve's Bostic.

On Friday, in terms of economic data, Japan will release the unemployment rate in July and Tokyo CPI data, while the US will publish a series of heavyweight data including the US core PCE price index annual rate in July, US personal spending rate in July, US University of Michigan Consumer Confidence Index final value in August, and US one-year inflation rate in August is expected to be the final value.

In terms of financial events, Atlanta Fed President Bostic will give a speech on monetary policy and economic outlook.

As for financial reports, Hong Kong stocks.$CHINA SHENHUA (01088.HK)$Please use your Futubull account to access the feature.$CITIC (00267.HK)$ Will announce performance, post-market trading $Frontline (FRO.US)$Please use your Futubull account to access the feature.$MINISO (MNSO.US)$ Performance will be released before the post-market trading of usa

Wishing Mooers a successful week of investment!

Editor/Somer