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25 or 50 basis points rate cut in September? This week's non-farm payroll data may reveal the "answer".
This Friday the market will usher in August non-farm payroll data, which will be the last heavyweight employment data before the September Fed decision, and may be the key to deciding whether to cut rates by 25 or 50 basis points. Due to the lower-than-expected growth in non-farm payrolls in July, the unemployment rate reached its highest level in nearly three years. The market generally expects the number of new jobs added in August to be 165,000, a significant increase from the 114,000 last month. The average increase in employment over the past three months will slow to slightly above 150,000, the smallest increase since early 2021, while the unemployment rate may drop slightly from 4.3% to 4.2%.
USA's July PCE inflation rose moderately, paving the way for a rate cut next month.
Last Friday, the U.S. Department of Commerce's Bureau of Economic Analysis released the July PCE price index, excluding the volatile food and energy components, the core PCE price index recorded a 2.6% annual rate, unchanged from the previous month, slightly lower than the market's expectation of 2.70%; the core PCE price index recorded a 0.2% monthly rate, unchanged from the previous month, in line with market expectations. As the Federal Reserve's most favored inflation indicator, PCE data rose moderately in July, with household spending remaining robust, paving the way for a rate cut next month.
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Harris completely reverses the "Biden decline": Leading Trump in all polls, with the lead steadily expanding.
A series of updated U.S. presidential election polls in recent days have shown that after the 'Pennsylvania assassination' incident, which was once considered a 'sure win' for Trump, he is now completely trailing Harris. With the two candidates' vastly different policy orientations, the sudden change in poll results means that economies around the world are currently transitioning from 'preparing for Trump's second term' to 'studying Harris' economic policies'.
Bank of America's "big turn": bullish on commodities, bearish on US bonds, the key is this week's data.
At the beginning of August, when the market fell sharply, Bank of America reminded to pay attention to key support levels. Now, with the Fed about to start cutting interest rates, Bank of America believes that US bonds may face a decline and that the bull market in commodities is just beginning. The famous strategist Michael Hartnett of Bank of America commented in his latest Flow Show note that he sees opportunities to re-enter long-term bond trades, especially if the ISM Manufacturing Index is above 49, which could push the 30-year bond yield above 4.3%.
Focusing on giants! Invesco and BlackRock have successively launched "Nasdaq and S&P giants ETF".
比亚迪股份8月新能源汽车销量约0.3731 million辆,同比增加35.97%
President Trump warmly embraces cryptos as the family's digital assets continue to grow.
US presidential candidate Trump currently advocates for decentralized financial platforms and promises to make the US the "crypto capital" of the world. All eyes are on the growing digital asset efforts of his family members and colleagues. In recent weeks, Trump and his two sons have been promoting World Liberty Financial, a decentralized (DeFi) project aimed at eliminating intermediaries such as banks through the use of software-driven applications.
Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.
All three major indices rose, with the S&P 500 approaching a new all-time high and the Nasdaq rising over 1%.
Last Friday, the three major indices closed higher, with the Dow hitting another record high and the S&P 500 approaching a historical high. At the close, the Dow Jones Industrial Average rose 0.55%, the S&P 500 rose 1.01%, and the Nasdaq Composite rose 1.13%.
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Large tech stocks generally rose, with Apple bucking the trend and falling 0.34%, Meta rising 0.60%, Microsoft rising 0.97%, Google rising 0.99%, Nvidia rising 1.51%, Amazon rising 3.71%, and Tesla rising 3.80%.
Most popular Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index rising 1.20%, Pinduoduo rising 2.88%, Alibaba rising 2.86%, JD.com rising 2.39%, Nio Inc rising 2.54%, Xpeng rising 2.29%, NetEase falling 0.11%, Li Auto Inc falling 1.17%, and iQiyi falling 4.02%.
Media: Tesla will launch its Robotaxi at Warner Bros. Hollywood Studio.
According to media reports citing sources, Tesla plans to launch Robotaxi (self-driving taxis) at Warner Bros. Studios in Hollywood. At the time, Tesla CEO Musk stated that Tesla needed more time to make some design changes to the vehicles. Insiders revealed that Tesla will showcase specially manufactured Robotaxi vehicles at the Warner Bros. studio in Burbank, California on October 10th local time.
At the close,$Tesla (TSLA.US)$up nearly 4%.
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Intel closed up over 9%, potentially spinning off its manufacturing business for sale.
$Intel (INTC.US)$It rose 9.49% last Friday, the largest single-day increase since October 2022, with a trading volume of $3.874 billion. According to insiders, Intel is currently working with investment banks to discuss various options, such as splitting its product design and manufacturing business, as well as suspending or canceling some projects to improve the company's financial performance.
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The US is pressuring ASML to stop equipment maintenance in China. Experts say that the US is recklessly breaking up the global production and supply chain under the guise of safety.
According to anonymous sources cited by Bloomberg, the Dutch government plans to restrict$ASML Holding (ASML.US)$to provide maintenance and repair services for semiconductor equipment to Chinese customers, which may result in some equipment becoming inoperable as early as next year. This move may affect China's ability to develop a world-class chip industry. Both ASML Holding and the Dutch government have refused to comment on this matter.
Google plans to invest $0.85 billion to establish its second data center in Latin America. The center will be located in Canelones, Uruguay, and marks Google's second data center in Latin America. The company initially invested $0.15 billion in its first data center near the Chilean capital, Santiago, in 2015, and made an additional investment of $0.14 billion in 2018 for expansion.
American technology giant$Alphabet-C (GOOG.US)$Google plans to invest $0.85 billion to establish its second data center in Latin America. The center will be located in Canelones, Uruguay, and marks Google's second data center in Latin America. The company initially invested $0.15 billion in its first data center near the Chilean capital, Santiago, in 2015, and made an additional investment of $0.14 billion in 2018 for expansion.
At the close, Google rose more than 1%.
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Goldman Sachs' annual performance elimination plan is rumored to be underway, with hundreds of layoffs expected in the coming weeks.
According to insiders, as part of the low-performance employee elimination plan,$Goldman Sachs (GS.US)$it is planned to lay off hundreds of people in the coming weeks. A source said that the layoffs will account for 3% to 4% of Goldman Sachs' total staff in 2024, with most of the layoffs already taking place earlier this year. This is a typical move by Goldman Sachs to control costs and make room for attracting new talent. As of mid-year, Goldman Sachs had a total of 44,300 employees.
Buffett's "clearing-style reduction" of Bank of America: selling for six consecutive trading days, cashing out a total of $44 billion.
Since mid-July, "Stock God" Warren Buffett has been selling shares of the second largest bank in the United States -$Bank of America (BAC.US)$The stock, institutions under his control$Berkshire Hathaway-B (BRK.B.US)$As of the time of writing, bank of america's stock fell slightly by 0.17% after hours.
Berkshire Hathaway's large cash reserves grew by over $6 billion. According to a new filing submitted to the SEC last Friday, Berkshire Hathaway sold a total of 21.1 million shares of Bank of America stock at an average price of $40.24 on Wednesday, Thursday, and Friday, cashing out approximately $0.85 billion.
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OpenAI is reportedly considering changing its company structure or eliminating the investors' profit cap.
According to media reports citing sources, the AI research company OpenAI is considering changing its corporate structure to be more investor-friendly, and is in the process of raising billions of dollars in financing. It is reported that OpenAI has not made a final decision on whether to change its own structure, and one option is to remove the profit cap for existing investors in its for-profit subsidiary. OpenAI currently offers shares to investors through its for-profit subsidiary, which is managed by its non-profit board of directors.
If you want to play this game, you must believe in yourself and your judgment.
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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 increased its holdings of Tencent by nearly 0.7 billion Hong Kong dollars, bought nearly 0.4 billion Hong Kong dollars of Ping An, and sold more than 0.4 billion Hong Kong dollars of ICBC and China Construction Bank.
On August 30, the net inbound capital into Hong Kong stocks was 1.367 billion Hong Kong dollars.
$TENCENT (00700.HK)$,$PING AN (02318.HK)$,$XIAOMI-W (01810.HK)$Net purchases of HKD 0.681 billion, HKD 0.39 billion, HKD 0.205 billion respectively.
$ICBC (01398.HK)$Please use your Futubull account to access the feature.$CCB (00939.HK)$N/A.$LI AUTO-W (02015.HK)$Net sales of HKD 0.479 billion, HKD 0.419 billion, HKD 0.203 billion respectively.
August electric vehicle performance report: Xiaomi has exceeded 10,000 units for three consecutive months, and the delivery of Ideal has increased by 37.8% year-on-year.
On September 1,$XIAOMI-W (01810.HK)$,$LI AUTO-W (02015.HK)$waiting for the announcement of August performance of new energy vehicles. Xiaomi SU7 delivery volume exceeded 10,000 units, and has achieved the target of over ten thousand deliveries for three consecutive months. Li Auto Inc delivered 48,122 new vehicles in August, a year-on-year growth of 37.8%,$LEAPMOTOR (09863.HK)$becoming the third new force in the monthly sales to break 0.03 million.
BYD's August sales of new energy vehicles reached approximately 0.3731 million units, a year-on-year increase of 35.97%.
$BYD COMPANY (01211.HK)$Announcement: In August 2024, the production of new energy vehicles reached approximately 0.367 million units, a year-on-year increase of 28.8%; sales reached approximately 0.3731 million units, a year-on-year increase of 35.97%. From January to August, the production of new energy vehicles reached approximately 2.3199 million units, a year-on-year increase of 26.57%; sales reached approximately 2.3284 million units, a year-on-year increase of 29.92%.
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: Caixin Manufacturing PMI; U.S. stock market closed
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On Monday, in terms of economic data, China's Caixin Manufacturing PMI will be released.
In the market, the U.S. stock market and Canadian stock market will be closed due to Labor Day.
Futubull Morning News:
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