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• Federal Reserve committee: The time for interest rate cuts has come, and it's hard to imagine any unexpected outcomes at the September meeting.

San Francisco Federal Reserve President Daley stated that she believes it is appropriate for the Fed to start cutting interest rates. Daley said in an interview on Monday, 'The labor market has achieved full balance. The time to adjust policies has arrived.' This view echoes last week's remarks by Fed Chairman Powell at the Jackson Hole Symposium, where Powell expressed confidence in the inflation rate returning to 2%, also stating 'the time to adjust policies has arrived.' Daley stressed that the Fed must bring the inflation rate down to the 2% target, but she and her colleagues will also strive to prevent restrictive policies from harming the labor market.

• The Jackson Hole summit concluded, and central banks in Europe and the US are starting to be optimistic, in an effort to ensure a 'soft landing' for interest rate cuts.

During the past weekend, global central banks gathered at the annual Jackson Hole summit. Officials at the meeting seemed to see hope for achieving a 'soft landing' for the global economy. After experiencing the most severe inflation shock in 40 years, which many previously thought was almost impossible, Bank of England Governor Bailey and Federal Reserve Chairman Powell responded to the concerns that sacrificing economic growth would be necessary to achieve inflation targets. Both of them expressed that as the interest rate cutting cycle begins, they are still steering clear of an economic recession.

• Goldman Sachs: It is expected that the S&P 500 index will reach new highs again this week, making investors increasingly worried about missing out on the gains.

Scott Rubner recently stated that strong inflows of funds from corporate buybacks and systematic funds are likely to drive the S&P 500 index to new historical highs this week, further raising investors' fear of missing out (FOMO). However, stock demand may be exhausted in three weeks, indicating that the US stock market may decline once again. NVIDIA's profit threshold for this quarter is much lower than in previous quarters.

• Hedge funds are increasing their selling pressure on large US tech stocks.

According to data from Goldman Sachs' brokerage business as of August 23, although US technology stocks have rebounded significantly since early August, hedge funds have sold the sector at the highest level in two months. Information technology stocks have been sold in all regions, with North America accounting for 86% of the net selling volume. In terms of industry, net sales were encountered in technology hardware, software, semiconductors, and semiconductor equipment stocks, overshadowing the mild bidding for communications equipment and IT service stocks. The second largest net selling sector is non-essential consumer goods stocks, with the net selling scale of essential consumer goods stocks reaching the highest level since September 2023.

• The Middle East situation escalated and Libya suspended its oil exports, causing oil prices to rise more than 3%.

The eastern Libyan government announced on Monday that it would halt all oil production and exports, and Hezbollah in Lebanon announced a large-scale attack on Israel, increasing concerns about disruptions in crude oil supply. Yesterday, Brent oil briefly touched $81, and US oil rose over $77. The Commonwealth Bank of Australia believes that the trading price of Brent crude oil in September will be between $75 and $85 per barrel, with the possibility of further upward momentum if hopes for a ceasefire in Gaza diminish and the possibility of retaliation by Iran against Israel remains.

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

• The three major indexes had mixed performances, with the Dow Jones reaching a new all-time high and PDD Holdings experiencing a drop of over 28%.

On Monday, the three major US indexes had divergent closing trends, with the Dow Jones rising 0.16% to reach a new all-time high, the Nasdaq falling 0.85%, and the S&P 500 index falling 0.31%.

Growth tech and semiconductor stocks mostly declined, with Tesla down over 3%, Nvidia down over 2%, Broadcom down over 4%, Micron Technology and Advanced Micro Devices down over 3%.

China concept stocks mostly declined, with the Nasdaq Golden Dragon China Index falling 0.76%. PDD Holdings dropped over 28%, Bilibili and Alibaba dropped over 4%, and JD.com dropped over 3%.

• Apple will hold a product launch event on September 10th Beijing time, and the first AI iPhone will make its debut.

$Apple (AAPL.US)$ Issued an invitation to the product launch event held at the company's headquarters on September 9th (1:00 am on September 10th, 2024 Beijing time), with the theme "It’s Glowingtime". The event is expected to release the latest iPhone, Watch, and AirPods. Apple has been preparing for the launch event on September 10th, but the time has now been moved up a day. The focus of this launch event is expected to be Apple Intelligence, with some media predicting that the addition of AI features may lead to a comprehensive price increase for the iPhone 16.

In addition, Apple has replaced its CFO and, as per the "established plan", appointed Kevan Parekh as the CFO, replacing Luca Maestri, effective January 1, 2025.

• Pinduoduo plummeted over 28%, with Q2 revenue falling short of expectations, and future profits expected to gradually decline.

$PDD Holdings (PDD.US)$ The financial report shows that the second quarter revenue was 97.06 billion yuan, an 86% year-on-year growth, market expectation was 99.985 billion yuan; adjusted operating profit was 34.99 billion yuan, a 139% year-on-year growth; adjusted net profit attributable to ordinary shareholders was 34.43 billion yuan, a 125% year-on-year growth. During the financial report conference call, Zhao Jiazhen, Executive Director and Co-CEO of Pinduoduo Group, stated that the increasingly fierce competition in the e-commerce industry is inevitable... Pinduoduo's future profits are expected to gradually decline, which is a necessary cost for long-term health.

• Pinduoduo's Chen Lei: It is still in the investment period, and there are no plans for buybacks or dividends in the coming years.

$PDD Holdings (PDD.US)$ During the financial report conference call, PDD Group Chairman and Co-CEO Chen Lei stated that in terms of shareholder returns, PDD believes that the company is still in a stage of investment. The various business lines of the company are facing intense competition and uncertainties brought by the external environment. Therefore, Chen Lei and other management members unanimously believe that it is inappropriate to conduct capital-level buybacks or dividends at the current stage, and there is no need for such actions in the foreseeable future.

• With increased holdings by He Xiaopeng, Xpeng Motors rose more than 7%.

$XPeng (XPEV.US)$ Rising more than 7% overnight, Xpeng Motors CEO He Xiaopeng previously purchased 1 million H-shares at an average price of HK$27.13 per share, as well as 1.42 million American Depositary Receipts at an average price of $7.02 per share between August 21 and 23, totaling over HK$0.1 billion in additional holdings. He plans to continue increasing his holdings.

• Exxon Mobil: No Long-Term Slowdown in Global Oil Demand

US energy giant. $Exxon Mobil (XOM.US)$ Exxon Mobil updated its "Global Outlook" on its official website on Monday. According to Exxon Mobil, global oil demand will remain level with current levels, or even slightly increase, by 2050. The report states that the demand for oil in power generation and passenger vehicles will weaken, but the demand will be supported by the chemical and commercial transportation sectors, maintaining a level above 0.1 billion barrels per day.

• Countdown to the first ever commercial spacewalk by humans, SpaceX spacecraft set to launch on Tuesday.

In addition to the first private company spacewalk, SpaceX's mission codenamed Polar Star Dawn is also planned to have the farthest flight orbit from Earth, 1,400 kilometers, creating the farthest distance from Earth for humans since the end of the 1972 American Apollo moon landing mission. Two engineers from Space X onboard will become the women who have flown farthest from Earth.

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.

• Beishui sold Tencent for over 0.2 billion Hong Kong dollars, and bought China Mobile for over 0.1 billion Hong Kong dollars against the trend.

On August 26, the southbound funds sold a net amount of 0.041 billion Hong Kong dollars, $TRACKER FUND OF HONG KONG (02800.HK)$,$TENCENT (00700.HK)$,$CNOOC (00883.HK)$respectively experiencing a net sell-off of 0.335 billion Hong Kong dollars, 0.263 billion Hong Kong dollars, 0.169 billion Hong Kong dollars;$CHINA MOBILE (00941.HK)$Received a net buy of 0.12 billion Hong Kong dollars against the market trend.

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 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.

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