Market Review on September 2nd

The overnight Nasdaq index and the S & P 500 index hit record highs; Zhongnai, the top six technology stocks in FAANMG, soared more than 5 per cent to take the lead, while Apple Inc rose nearly 4 per cent to a new high. For the first time in the history of market capitalization, Apple Inc surpassed all small-cap stocks of Russell 2000. Tesla, Inc. fell by more than 4%. Bilibili Inc. rose by more than 10% to a new high.

White House Chief of staff Meadows said in an interview that Senate Republicans may propose a stimulus bill worth about $500 billion next week. But they still face opposition from some members of the party who do not approve of any additional economic stimulus. In addition, any proposal requires 60 votes in the Senate, and if House Speaker Nancy Pelosi and the White House fail to reach an agreement, Democrats are expected to veto the bill.

The Hang Seng Index fell 0.26% to 25120 today. In the market, popular Hong Kong stocks continued to be strong, JD.com rose more than 7 per cent to reach a new high, BABA and Meituan both rose about 3 per cent to break the top, and Tencent also closed up more than 1 per cent. Yuantong Express International soared by 259%, and the parent company won the BABA 6.6 billion strategy to increase its holdings by 12%. BABA and Apple Inc concept stocks led the rise, BYD Electronic soared by more than 14%, BABA Pictures soared 7% SaaS concept stocks rose, Weimeng rose 6% to a new high; the Ministry of Education issued a document standardizing the management of education fees, education stocks fell across the board, and wise vision education and Tianli education plummeted by more than 23%.

Us stocks before trading: Nasdaq futures hit new highs again

Us stock futures strengthened before the day of trading, and Nasdaq futures once again hit an all-time high. As of press time, Nasdaq futures rose 1.05%, S & P 500 index rose 0.69%, and Dow futures rose 0.67%. The daily domestic demand of investors pays attention to the data of "small non-farmers".

Performance of major ETF products in Hong Kong stocks

• The Hang Seng Index is down 0.26%, while the South double bullish Hang Seng Index is down 0.69%.

The Hang Seng Index fell 0.26%$South double bullish Hang Seng Index (07200.HK) $Down 0.69%, the turnover reached HK $5.11South double bearish Hang Seng Index (07300.HK) $Up 0.28%, the turnover reached HK $6.98 million$South double bearish Hang Seng Index (07500.HK) $The turnover increased by 0.56% to HK $689 million.

• The Hang Seng Technology Index rose more than 3%, and Southern Hang Seng Technology rose nearly 3%.

Hang Seng Technology Index rose 3.06%Southern Hang Seng Technology (03033.HK) $It rose 2.99%, with a turnover of HK $445 million.

• The CSI 300 closed slightly higher, while the CSI 300 rose 0.11% as the South doubled.

Shanghai and Shenzhen 300 closed up 0.04%.The South is twice as long as Shanghai and Shenzhen (07233.HK) $Up 0.11%, turnover was HK $90.82 millionSouth double shorting Shanghai and Shenzhen 300 (07333.HK) $Down 0.14%, with a turnover of HK $25.8 million.

• Hong Kong stock market rose by the top 10 ETF

The top 10 gains in the Hong Kong stock market today are mainly the Hang Seng Technology Index and the Nasdaq-related ETF, of whichSouthern Hang Seng Technology (03033.HK) $Up 2.99%, the turnover reached HK $445 million$Huaxia Direxion double look at the 07261.HK (Donna Index) $The turnover increased by 3.31% to HK $10.8 million.

Performance of major ETF products in US stocks

The three major indexes of US stocks all closed higher overnight, with the Nasdaq and the S & P 500 all reaching new highs.$NASDAQ triple long ETF-ProShares (TQQQ.US) $Close up by more than 5%Direxion see more than 3 times more than S & P 500 per day (SPXL.US) $、$ProShares UltraPro 3 times Dow 30 (UDOW.US) $Up nearly 3%.

The pre-market index strengthened again today.$NASDAQ triple long ETF-ProShares (TQQQ.US) $It was up more than 3% before trading.

ETF of US stocks related to listing on the Hong Kong Stock Exchange$Huaxia Direxion double look at the 07261.HK (Donna Index) $Up 3.31%, the turnover reached HK $10.8 million$FI2 Warsaw 100 (07522.HK) $The turnover fell 3.24% to HK $12.29 million.

ETF performance of energy and precious metals

• API crude oil inventory fell for six consecutive years, while US oil rose slightly.

API crude stocks fell for the sixth time in a row, with U.S. crude stocks falling 6.4 million barrels to about 501.2 million barrels in the week ended Aug. 28, according to the American Petroleum Institute (API). Analysts expect a reduction of 1.9 million barrels. Gasoline inventories also fell by 5.8 million barrels, exceeding analysts' expectations of a drop of 3 million barrels. Follow the EIA data during the day. Similar to the API data, U. S. EIA crude stocks have fallen for five consecutive weeks. WTI crude oil futures have narrowed down, rising 0.28 per cent, after rising more than 1 per cent at one point in intraday trading.

In addition, Goldman Sachs Group believes that by next spring, the possibility of wider use of novel coronavirus vaccine will increase, which will offset the decline in crude oil demand and help the crude oil market gain momentum in 2021. U.S. crude oil futures prices are expected to rise from the previous $51.38 / barrel to $55.88 / barrel in 2021, while Brent oil prices will rise to $65 by the end of the third quarter of 2021. It is increasingly likely that the novel coronavirus vaccine will be put into widespread use next spring, helping to support global growth and oil demand, especially jets, despite the decline in crude oil inventories this summer. however, the key to the rebound in the spot price of crude oil is a steady rise in long-term prices.

• The dollar index rebounded and gold prices fell slightly

The performance of US manufacturing data made the market optimistic, with the dollar index rebounding since yesterday, while gold futures narrowed to $2.70 from more than $20 yesterday. Gold prices fell slightly today and are now down 0.15 per cent.$Gold ETF-SPDR (GLD.US) $It was down 0.23% before trading.

Other ETF manifestations

• Overnight US stock market rose by the top 10 ETF

The top 10 ETF gains in the overnight US stock market are mainly housing construction and Brazil-related ETF, of which$Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL.US) $涨8.9%，$Direxion daily Brazil bullish twice as much stock (BRZU.US) $7.68%。