①The US PPI in August increased by 1.7% year-on-year, with an estimated increase of 1.7%; ②The European Central Bank is lowering the deposit facility rate by 25 basis points; ③Google and OpenAI executives are expected to attend a meeting at the White House today to discuss artificial intelligence.
On Thursday, the three major US stock index futures collectively rose, while major European indices generally increased.
(Source: Investing.com)
The European Central Bank lowered the deposit facility rate by 25 basis points on Thursday, and cut the main refinancing rate and the marginal lending rate by 60 basis points. After the rate cut, the main refinancing rate, marginal lending rate, and deposit facility rate are 3.65%, 3.90%, and 3.50% respectively.
The data released before the market opened showed that the US PPI in August increased by 1.7% year-on-year, with an estimated increase of 1.7%, down from the previous value of 2.2%; and increased by 0.2% month-on-month, with an estimated increase of 0.1%, revised from an increase of 0.1% to 0%.
The US core PPI in August increased by 2.4% year-on-year, with an expected 2.5%, down from the previous value of 2.40%; and increased by 0.3% month-on-month, with an expected 0.20%, revised from 0.00% to -0.2%.
Lauren Goodwin, Chief Market Strategist at New York Life Investment Management, said, "The inflation report we saw on Wednesday confirms a trend that we have recognized in recent months - that the Fed is now less focused on inflation (which I think is appropriate) and is more focused on economic growth, completely changing the market's reaction."
Company news
Google and OpenAI executives are reportedly attending a meeting at the White House today to discuss artificial intelligence.
Sources say that OpenAI CEO Sam Altman, Google executive Ruth Porat, and Anthropic CEO Dario Amodei are expected to attend the technology company executives meeting at the White House on September 12. Senior White House officials will meet with technology company leadership to discuss artificial intelligence. A White House official stated that Energy Secretary Jennifer Granholm, Commerce Secretary Ramondo, other senior officials, and representatives from microsoft will be in attendance.
SpaceX's commercial spacewalk mission 'Polaris Dawn' has concluded.
SpaceX announced on Thursday local time that the commercial spacewalk mission 'Polaris Dawn' has concluded.
On Thursday local time, the two crew members of the 'Polaris Dawn' space mission began taking turns to carry out spacewalk activities, marking the first commercial spacewalk conducted by non-professional astronauts globally, at around 6:00 am Eastern Time on September 12th (around 18:00 Beijing Time).
Volkswagen and the German metalworkers' union will begin wage negotiations early on September 25th.
On September 12th, Volkswagen announced that the company will begin salary negotiations with the German Metalworkers' Union IG Metall on September 25th. Volkswagen stated that due to the current severe situation faced by the company and the resulting uncertainties, the negotiating parties have jointly decided to bring forward the start time of the collective bargaining from the end of October to September 25th.
JPMorgan and Bank of America are reportedly restricting the working hours of young bankers.
On September 12th, it was reported that Bank of America and JPMorgan plan to limit the working hours of young bankers and strengthen monitoring. Insiders said that in most cases, JPMorgan will limit the working hours of junior bankers to 80 hours per week. Meanwhile, Bank of America is introducing a new tool to closely track the working hours of junior bankers.
Microsoft is planning to lay off 650 employees in its Xbox gaming division.
As Microsoft tries to control costs and integrate the previously acquired Activision Blizzard, the company announced that it will lay off 650 employees in its Xbox division. According to a memo sent by Xbox head Phil Spencer to employees on September 12th, the positions being eliminated are primarily in corporate and support functions. The memo stated that no gaming, hardware, or experience positions are being eliminated in today's restructuring, and no studios are being closed.
European privacy regulators are investigating Google's use of data for artificial intelligence models.
European privacy regulators are investigating the handling of artificial data by a artificial intelligence model developed by Google. PaLM 2, a technology giant, has become the latest target of the Irish Data Protection Commission.
Events to watch during the US stock market hours (Beijing time)
September 12th
22:30 United States EIA Natural Gas Inventory as of September 6th