On September 6, Caixin reported (Editor: Xia Junxiong) that before the US stock market opened on Friday, the three major stock index futures collectively fell, and major European indices generally declined.

(Source: Investing.com)

The data released before the market showed that the non-farm payrolls in the United States increased by 0.142 million people in August, with an estimated increase of 0.165 million people. The previous value increased by 0.114 million people. The unemployment rate in August was 4.2%, with an estimated rate of 4.2%, and the previous value was 4.3%.

In addition, the July data was revised down from 0.114 million to 0.089 million, and the June data was revised down from 0.179 million to 0.118 million. The combined downward revision of the two months resulted in an additional 0.086 million new employed persons.

After the release of non-farm payrolls data, traders raised their expectations for the magnitude of interest rate cuts by the Federal Reserve this year. Traders believe that there is a 50% chance of a 50 basis point rate cut by the Federal Reserve this month.

Traders closely monitor employment data for clues about the magnitude of interest rate cuts by the Federal Reserve this month. This week, concerns about the economy have once again shaken the market, and any signs of weakness in the job market can make investors uneasy.

Faraday Future's pre-market trading once surged by 28%. On the news front, Faraday Future announced that the company has received $30 million financing commitments from investors in the Middle East, USA, and Asia.

Company news

Qualcomm is reportedly exploring the acquisition of part of Intel's chip design business.

According to sources, Qualcomm is discussing the possibility of acquiring part of Intel's chip design business. Qualcomm executives are very interested in Intel's customer PC design business, but Qualcomm is also studying all of its design departments. An Intel spokesperson said that Qualcomm has not yet contacted Intel regarding the potential acquisition and declined to comment on its plans. Qualcomm also did not comment on the matter.

It is reported that Nippon Steel has proposed signing a national security agreement regarding its plan to acquire United States Steel. The letter was sent on September 3 in response to the Committee on Foreign Investment in the United States (CFIUS). The committee has stated that the transaction could harm the supply of steel needed for critical transportation, construction, and agricultural projects, thus constituting a national security risk.

Nippon Steel has suggested signing a national security agreement to alleviate the concerns of the United States regarding its acquisition of United States Steel. The letter, sent on September 3, aims to respond to the Committee on Foreign Investment in the United States (CFIUS). The committee has stated that the transaction could harm the supply of steel needed for critical transportation, construction, and agricultural projects, thus constituting a national security risk.

Faraday Future announced that it has received a commitment of $30 million in financing. On September 5, local time, Faraday Future, headquartered in California, USA, announced that it has received a commitment of $30 million in financing from investors in the Middle East, the United States, and Asia. The financing includes a $7.5 million pre-investment and an additional $22.5 million in the form of convertible notes and warrants to purchase additional common stock of the company in the future. The conversion price of the convertible notes is $5.24 per share, and the exercise price of the warrants is $6.29 per share, subject to adjustment according to the terms and conditions.

Faraday Future announced that it has received a commitment of $30 million in financing. On September 5, local time, Faraday Future, headquartered in California, USA, announced that it has received a commitment of $30 million in financing from investors in the Middle East, the United States, and Asia. The financing includes a $7.5 million pre-investment and an additional $22.5 million in the form of convertible notes and warrants to purchase additional common stock of the company in the future. The conversion price of the convertible notes is $5.24 per share, and the exercise price of the warrants is $6.29 per share, subject to adjustment according to the terms and conditions.

Institutions: Apple's iPhone 16 series will use the A18 processor, and the pricing may be the same as the previous generation, iPhone 15.

On September 6th, according to the latest survey by TrendForce, Apple's upcoming iPhone 16 series will be equipped with the new A18 and A18 Pro processors, and the DRAM will be upgraded to support Apple Intelligence. The organization estimates that the total output of the four new models of Apple will reach 86.7 million units in the second half of 2024, with a year-on-year increase of nearly 8%. Considering the overall decline in the smartphone market, it is expected that Apple will continue to adopt a cautious pricing strategy. The organization points out that the US dollar pricing of the four new models launched this year is expected to remain the same as the iPhone 15 series, or slightly increase due to cost increases, in order to promote sales of the new models while maintaining profitability.

The UK antitrust department has preliminarily ruled that Google's ad server has engaged in anti-competitive behavior.

The UK's anti-trust department, the Competition and Markets Authority (CMA), announced on September 6th that it has provisionally determined that Google has abused its dominant position through the operation of its advertising server and purchasing tools, thus restricting competition in the UK market. The interim investigation results involve how Google 'self-recommends' its advertising trading platform, which harms competition and therefore the interests of advertisers and publishers. In addition to taking action in the UK, authorities in the US and the EU are also investigating similar issues.

Events to watch during the US stock market hours (Beijing time)

September 6th

22:00 Global Supply Chain Pressure Index for August in the USA

September 7th

01:00 Total number of oil rigs in the USA for the week ending September 6th