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• Fed officials hint at future actions: the labor market has not yet 'flashed a red light', an additional 50 basis points cut expected this year, multiple rate cuts in the next year.

On Monday (September 23), local time, Federal Reserve officials spoke intensively! Kashkari, a 2026 voting member of the Federal Reserve FOMC, said that despite the 50 basis point rate cut by the Federal Reserve last week, the policy remains tight, with expectations of smaller rate cuts in the future. It is expected that there will be two more 25 basis point rate cuts before the end of the year.

Bostic, President of the Federal Reserve Bank of Atlanta, stated that as inflation approaches the Federal Reserve's target and the labor market becomes more balanced, it is time to bring interest rates back to a neutral level.

Evans, President of the Federal Reserve Bank of Chicago, indicated that last week's 50 basis point rate cut signifies the need to consider employment risks in addition to inflation, potentially resulting in multiple rate cuts in the coming year. Media comments suggest that Federal Reserve officials have opened the door for another significant rate cut, but are closely monitoring the data.

• In September, commercial activities in the USA remained stable, with rising price pressures.

US September S&P Global PMI data shows stable business activity, but average prices of goods and services have risen at the fastest pace in six months, possibly indicating a future increase in inflation over the next few months. The September PMI data is consistent with data released this month, including retail sales, indicating that the US economy maintained strong growth momentum in the third quarter. The average prices of goods and services have risen at the fastest pace since March, marking the first acceleration in sales price inflation in four months.

• Wall Street strategist: The Federal Reserve's rate cut has increased the possibility of a 'meltdown' in the stock market.

Wall Street strategist Ed Yardeni stated that benefiting from the significant interest rate cut by the Federal Reserve last week, US stocks may soar to new highs. However, if Federal Reserve officials do not act cautiously, it may also lead to a resurgence of inflation. The latest policy decision will 'melt up' stock prices - just like the S&P 500 index surged by 220% from 1995 to the end of the last century during the dot-com bubble period - raising the possibility from 20% to 30%. He believes there is an 80% possibility of a bull market, with the remaining 20% possibility resembling the situation in the 1970s.

• Spot gold hit a record high above $2630 on Monday.

In the New York closing on Monday (September 23), spot gold rose by 0.26%, to $2628.72 per ounce. After the release of US PMI data at 21:45 Beijing time, it hit a new all-time high of $2634.90 at 22:27.

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

• All three major indices closed up, with S&P and Dow hitting new highs, and Tesla rising by about 5%.

On Monday Eastern Time, the three major indices closed slightly higher, with the S&P 500 and Dow closing at record levels. Traders are hoping to continue the uptrend after the Federal Reserve rate cut.

At the close, the Dow Jones index rose by 0.15%; the S&P 500 index rose by 0.28%; the Nasdaq index rose by 0.14%.

Most large-cap tech stocks rose, with Google down 1.06%, Apple down 0.76%, Microsoft down 0.40%, Nvidia up 0.22%, Meta up 0.55%, Amazon up 1.19%, Intel up 3.30%, and Tesla up 4.93%.

China concept stocks surged, with the Nasdaq Golden Dragon Index up 1.36%. JD.com rose 4.24%, Li Auto Inc. rose 3.06%, PDD Holdings rose 2.40%, Alibaba rose 2.04%, NIO Inc. rose 0.76%, and XPENG fell 0.42%.

• Tesla soared nearly 5% intraday, hitting a two-month high! Barclays: China market may drive deliveries beyond expectations.

$Tesla (TSLA.US)$US stocks rose nearly 5% in midday trading on Monday, reaching their highest level in two months, erasing all year-to-date losses and turning positive. According to media reports, Barclays analysts expect Tesla's third-quarter delivery volume to exceed market expectations, coupled with the upcoming launch of Robotaxi next month, which may continue to drive the stock price higher.

• taiwan semiconductor to build a factory in the United Arab Emirates? The company responded: There are currently no specific plans for new overseas investments.

According to The Wall Street Journal report on the 22nd,$Taiwan Semiconductor (TSM.US)$and another chip giant, Samsung Electronics, have discussed plans to build a large chip factory in the United Arab Emirates, with costs possibly exceeding $100 billion. TSMC responded on the 23rd, indicating that the company has always welcomed constructive discussions to promote the development of the semiconductor industry with an open mind, and is currently focusing on existing global deployment plans without any specific new overseas investment plans.

• The USA Federal Trade Commission will approve Chevron's $53 billion acquisition of Hess.

The Federal Trade Commission (FTC) is expected to approve.$Chevron (CVX.US)$The acquisition of Hess Corp (Hess) by Chevron for $53 billion. The FTC may announce this decision as early as this week. To complete the transaction, Chevron still needs to win the arbitration case filed by Exxon Mobil. Hess's largest asset is its stake in the giant oil field project in Guyana, controlled by Exxon Mobil. Exxon Mobil claims to have a right of first refusal. Chevron's acquisition of Hess would be one of the largest oil transactions in recent years.

As of press time,$Hess Corp (HES.US)$Rises over 1% after hours.

• Boeing proposed a 30% overall pay raise to the union, calling the new proposal the best and final version.

Boeing has increased the contract quote for about 33,000 employees at its main manufacturing center in Seattle, in an attempt to resolve a strike that has been ongoing for over a week and could potentially worsen the company's financial crisis. In a statement, Boeing stated that the plan includes a 30% overall salary increase over four years, approval to double bonuses to $6,000, and the restoration of performance plan bonuses for aviation machinists. The company had previously proposed a 25% pay raise, while the union demanded a 40% increase.

As of press time,$Boeing (BA.US)$After-hours trading up 0.13%.

• Bank of America plans to open over 165 new branches by the end of 2026.

$Bank of America (BAC.US)$On Monday, it was announced that plans to open more than 165 new branches in the United States by the end of 2026. The bank has redesigned its branches to emphasize in-person sales of products such as mortgages and investments, instead of the traditional teller transactions. Bank of America stated in a release that this year's expansion plans will include the establishment of 40 new branches. The company mentioned that, except for the District of Columbia, it currently operates in 38 states and aims to expand to 41 states by 2026.

• Miniso Chief Financial Officer: It is expected that yonghui superstores will not control the majority of the board of directors and will not act as the controlling shareholder.

Miniso's Chief Financial Officer, Zhang Jingjing, stated in a conference call that after the acquisition of 29.4% equity of Yonghui Superstores is completed, Miniso will become the largest shareholder of Yonghui Superstores. However, we do not expect to control the majority of the board of directors, so we will not be the controlling shareholder or controller of Yonghui Superstores, nor will we consolidate financial statements. This decision is made based on the current situation. The trade is expected to be completed in the first half of 2025, and every important milestone will be disclosed to everyone during this period.

At the close,$MINISO (MNSO.US)$Dropped more than 16%.

Top 20 US stock transactions

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 bought tracker fund of hong kong for nearly 4 billion Hong Kong dollars, purchased Alibaba for nearly 2 billion Hong Kong dollars, and sold Meituan for over 0.8 billion Hong Kong dollars.

On September 23 (Monday), the net inflow of funds from mainland China into Hong Kong stocks was 8.415 billion Hong Kong dollars.

Tracker fund of hong kong (02800.HK),$BABA-W (09988.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$received net purchases of 3.931 billion Hong Kong dollars, 1.965 billion Hong Kong dollars, and 0.545 billion Hong Kong dollars respectively;

$MEITUAN-W (03690.HK)$,$TENCENT (00700.HK)$,$CNOOC (00883.HK)$Net sales of 0.824 billion Hong Kong dollars, 0.6 billion Hong Kong dollars, and 0.147 billion Hong Kong dollars were respectively sold.

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. Conference Board Consumer Confidence Index; Australian Reserve Bank Interest Rate Decision

In terms of financial data, the July FHFA House Price Index MoM for the U.S., the July S&P/CS20-City Composite House Price Index YoY for the U.S., the September Conference Board Consumer Confidence Index for the U.S., and the September Richmond Fed Manufacturing Index for the U.S. will be released.

In terms of financial events, in 2026, FOMC voting committee members and the President of the Minneapolis Fed, Kashkari, will give a speech. The Reserve Bank of Australia will announce its interest rate decision, and the Governor of the Reserve Bank of Australia, Lowe, will hold a press conference on monetary policy.

In terms of financial reports,$AutoZone (AZO.US)$ it will be released before the US stock market opens.

Futubull Morning News:

Interest rates are like the gravitational pull in investments.

- Buffett

Editor/ping