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Hot news
It's going to be a big week! Before the Fed cuts interest rates this month, there are still three major 'exams' for the data.
As September begins, apart from the U.S. August retail sales data to be released on the interest rate decision day, there are actually only three sets of key U.S. macroeconomic indicators left: the U.S. JOLTs job openings for July to be released this Wednesday; the U.S. August non-farm employment data to be released this Friday; and the U.S. August CPI data to be released next Wednesday.
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Should the Fed act quickly? Citigroup expects a 50 basis point rate cut in September.
Wall Street believes that this week's non-farm data may become the decisive factor for the Fed's interest rate cut in September. Citi believes that if the employment report meets the bank's expectations, with an increase of 0.125 million in employment and an unemployment rate of 4.3%, the Fed will cut interest rates by 50 basis points at the upcoming September meeting.
The bull market has just begun! Bank of America shouts: Investing in this asset is the right choice.
According to Bank of America, commodities are the area that investors should focus on for the next decade. The bank stated that investing in commodities can generate an 11% annualized return, 'because debt, deficits, demographics, deglobalization, artificial intelligence, and net zero emission policies are all inflationary'.
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Will bitcoin be able to break the "September curse" with the bullish impact of the Federal Reserve's interest rate cut?
As cryptocurrency traders are still waiting for a clear direction on the Fed rate cut and the upcoming presidential election, $Bitcoin (BTC.CC)$ The weak trading situation may continue for another month. According to CoinGlass data, Bitcoin has closed lower in 8 out of the past 11 Septembers, making it the month with the largest average decline in Bitcoin's annual performance, at 4.8%.
For seven consecutive years, there has been a 'September Crash' in the gold price! Can the gold price break this seasonal 'curse' this year?
Gold, which has been soaring to new highs all year, may face a daunting "seasonal test" this month: Will the "September curse" return? As shown in the chart below, since 2017, gold prices have fallen in September every year - during this period, the average decline in gold prices in September is nearly 3.3%, making it undoubtedly the worst-performing month of the year, far below the average increase of 1% in other months.
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US stock market news
Boosted by the subsidy for trade-in, Tesla's shipment volume in China increased year-on-year in August.
$Tesla (TSLA.US)$ In August, the shipment volume of the Shanghai factory increased by 3% year-on-year, marking the second consecutive monthly increase. This growth was attributed to the Chinese government doubling the subsidy for the 'trade-in' of new energy vehicles to 0.02 million RMB at the end of July. According to data from the China Association of Automobile Manufacturers, the wholesale sales volume of new energy passenger vehicles in August reached 1.05 million units, a year-on-year increase of 32% and a month-on-month increase of 11%. It is expected that Tesla's shipment volume in China will continue to grow.
Taiwan Semiconductor's cutting-edge A16 chip has received orders! Apple and OpenAI are said to have booked the first batch of production capacity.
$Taiwan Semiconductor (TSM.US)$ The cutting-edge 'A16' chip, developed by technology giant Intel, has caused a sensation in the industry even before mass production. According to Taiwan Economic Daily, both Intel and the AI leader OpenAI have already placed orders for Taiwan Semiconductor's A16 chip. $Apple (AAPL.US)$ Both Apple and the AI powerhouse OpenAI have already reserved Taiwan Semiconductor's A16 chip, which is a hot commodity in the technology and AI industry.
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Will iPhone usher in a wave of replacements? At the Glowtime conference, Apple AI may determine the fate.
$Apple (AAPL.US)$ The countdown to the autumn new product launch enters its final week, and the iPhone 16 is about to make its debut. "Apple Intelligence" is likely to be the highlight of this launch event. "Glowtime" almost certainly refers to the new Siri interface. According to Daiwa Securities, the introduction of Apple Intelligence will stimulate demand and accelerate the iPhone replacement cycle. Currently, the iPhone replacement cycle is at a historical peak of 4.8 years.
Intel's 'self-rescue' roadmap: splitting Altera and suspending the $32 billion German factory project.
$Intel (INTC.US)$ The CEO will propose a plan in mid-September, including selling off business units that the company cannot continue to fund, such as the programmable chip division Altera. The plan may also involve suspending or completely stopping its $32 billion German factory project. This plan aims to reduce the company's overall costs and reshape its capital expenditure.
Research: Novo Nordisk's weight loss drug can reduce the mortality rate of COVID-19.
Recent studies have found that people who take the key active ingredient, semaglutide, in the popular weight-loss drugs Ozempic and Wegovy have a lower risk of death after contracting the COVID-19 virus. $Novo-Nordisk A/S (NVO.US)$ People who were infected with COVID-19 and took Semaglutide had a 33% lower risk of death than those who did not take it. Semaglutide not only reduces the risk of heart disease but also has other benefits, such as improving symptoms of heart failure and inflammation, and reducing the mortality rate of patients with chronic kidney disease.
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For the first time in history, Volkswagen is reportedly considering closing its factories in Germany to further reduce costs.
According to Bloomberg, $VOLKSWAGEN A G (VWAGY.US)$ It is considering closing its factories in Germany for the first time and abolishing wage agreements to further reduce expenses. These potential measures are not only aimed at its main passenger vehicle brand, but also other corporate entities. It may also attempt to terminate the agreements with the unions that guarantee job security until 2029. If these closures are implemented, it will be the first time in the 87-year history of Volkswagen that a factory is closed in Germany, which will create conflicts with Germany's powerful unions.
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 significantly increased its holdings in Hong Kong ETF, buying over 6.7 billion Hong Kong dollars of tracker fund of Hong Kong, and sold nearly 0.2 billion Hong Kong dollars of Tencent.
On September 2nd (Monday), southbound funds net bought 11.939 billion Hong Kong dollars of Hong Kong stocks.
$TRACKER FUND OF HONG KONG (02800.HK)$,$CSOP Hang Seng TECH Index ETF (03033.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$Net purchases of 6.756 billion Hong Kong dollars, 1.135 billion Hong Kong dollars, and 1.126 billion Hong Kong dollars, respectively.
$TENCENT (00700.HK)$,$XIAOMI-W (01810.HK)$They were respectively sold by net 0.191 billion Hong Kong dollars and 53.43 million Hong Kong dollars.
HKEX will launch a weekly series of stock options, trading starts on November 4th.
HKEX will launch a weekly stock options series. The series has been approved by the Hong Kong Securities and Futures Commission and will be available for trading by market participants on November 4, 2024, once the market is ready.
The following stocks will have new options series added:$HSBC HOLDINGS (00005.HK)$and$HKEX (00388.HK)$N/A.$TENCENT (00700.HK)$,$KUAISHOU-W (01024.HK)$,$BYD COMPANY (01211.HK)$,$PING AN (02318.HK)$,$MEITUAN-W (03690.HK)$,$JD-SW (09618.HK)$,$BIDU-SW (09888.HK)$and$BABA-W (09988.HK)$.
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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: U.S. PMI; Construction Spending Month-over-Month
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In terms of financial data, the final value of the S&P Global Manufacturing PMI for August, the ISM Manufacturing PMI for August, and the Construction Spending Month-over-Month for July in the United States will be released.
In terms of financial reports, $Gitlab (GTLB.US)$ Will announce financial results after the US stock market closes.
Futubull Morning News:
"- Charlie Munger"
Editor/Somer